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China stock market
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Some officials in the Chinese government are so desperate to get their desired narrative across that they have started to disregard basic principles, an approach which may carry a high cost in the long run.

  • ABC chairman Gu Shu said the overall economy was showing positive signs of recovery which was creating a good environment for steady profit growth at his bank
  • Chifeng Jilong Gold Mining rose by the maximum 10 per cent and peer Shandong Gold Mining rallied 7.9 per cent as the precious metal struck record highs

Hong Kong stocks underperformed the region as sentiment was dealt a blow by the cancellation of a Hong Kong IPO by Alibaba Group’s logistic unit and a cautious outlook from electric vehicle maker BYD, with the yuan’s slide adding to the gloom.

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BYD reported an 81 per cent jump in earnings last year to an all-time high on the back of record deliveries of new electric vehicles. Weak consumer spending might, however, cool sales, it said.

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Hong Kong stocks closed higher as China Merchants Bank and China Resources Land posted better-than-estimated results and China’s central bank governor struck an upbeat tone about the property market.

The sell-off follows Shenzhen exchange’s statement that it would take action against Citic for failing to fully clarify issues regarding Liangang Optoelectronic’s IPO prospectus.

Hong Kong stocks retreated after a brief boost from a resurgent yuan currency, as investors are watchful awaiting earnings announcements this week from about a third of the companies that comprise the benchmark.

Has China’s long march to recouping stock market losses begun, after a US$1.75 trillion bounce in value from January lows? Many sentiment indicators have reached inflection points, backstopped by state intervention. Or do market bears still hold sway?

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Samsonite is exploring a dual listing plan for its shares, a surprise move that tempered market speculation about a potential offer to take the luggage maker private.

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Hong Kong stocks retreated as the focus returned to corporate earnings and after the euphoria over the US Federal Reserve’s dovish comments evaporated. The yuan broke a key level for the first time since November, adding to the gloomy sentiment.

Hong Kong stocks made a firm start after the US Federal Reserve’s dovish outlook brightened the prospects of lower funding costs in the months ahead.

The Hong Kong stock market posted gains driven by corporate earnings announcements but investors were cautious awaiting central bank monetary policy moves after benchmark rates were held steady

The cuts are part of a broader cost-reduction programme launched globally this month, which is expected to save US$125 million and make 9 per cent of its workforce redundant.

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The CSRC under Wu Qing will aim to develop 10 first-class brokerages including two or three that can compete with top global names like Goldman Sachs and Morgan Stanley by 2035.

WuXi AppTech, WuXi Biologics and Xpeng weighed on the market as fourth-quarter earnings of Chinese companies trail those of peers in the rest of Asia, according to Goldman Sachs.

In this week’s issue of the Global Impact newsletter, we reflect on what is in store for Hong Kong’s stock market and its operator, the Hong Kong Exchanges and Clearing Limited (HKEX), in the Year of the Dragon.

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China is tightening the screws on new domestic stock offerings, issuing four documents at once laying out some of the harshest rules, checks and penalties yet to crack down on fake accounting and restore confidence.

Investors should seek refuge in Chinese domestic consumption stocks and avoid hardware and semiconductor makers to ride out the US-China geopolitical uncertainty, according to Goldman Sachs.

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Stocks suffer from a twin blow on interest-rate front. China keeps its one-year loan facility unchanged, while stronger than expected US price reports this week undermine bets on a rate cut in the next two meetings.

The New York-based bank will continue to invest in Hong Kong, betting that the city where it has been doing business for a century can recover when the economic cycle turns, and live up to its potential as the financial centre of the world’s second largest economy.

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Hong Kong stocks took a breather from a three-day gain that helped key equity gauges overcome some key technical barriers, with sportswear maker Li Ning and Chinese developers weighing on the market.

South Korea plans to review the sale of potentially high-risk investments after a probe found that banks mis-sold China-linked structured products, exposing retail investors to more than US$4 billion in losses.

Hong Kong-listed stocks are witnessing a surge in share buy-backs as companies use their cash hoard to boost valuations, lift investor confidence.

Hong Kong stocks were lifted by hopes more companies could launch share buy-backs to take advantage of the current market valuations, sending the Hang Seng Index into the black for the year and thrusting the Hang Seng Tech Index into a bull market, defined as a rise of 20 per cent from recent lows.

The minimum asset requirement for investing in Hong Kong equities via the Stock Connect scheme should be cut to 100,000 yuan (US$13,900) from 500,000 yuan, SFC chairman Tim Lui says.

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Hong Kong stock market began the week on a firm note amid signs of a demand pickup in the world’s second largest economy and following positive investor flow data.

San Francisco-based Matthews International, which had fewer than 10 people in the Shanghai office, will centralise its regional research business in Hong Kong.

Hong Kong stocks rose, amid expectations global central banks will ease monetary conditions this year following dovish comments from heads of the US Federal Reserve and the ECB.