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Baijiu is a liquor (the word means white liquor) distilled in China that is sought after for official banquets and for gifts. Kweichow Moutai is probably the best known baijiu. Sales of the potent white spirit have risen in recent years, powered by a boom in the luxury market in China.
- The 14-day relative strength indices for the Shanghai Composite and the Hang Seng reach levels that indicate stocks are overbought
- Sell-offs are mild amid China’s trade data that exceeds estimates and the Sino-US trade deal
Daiwa Capital Markets downgrades Kweichow Moutai to hold from outperform, citing "a lack of near-term share price catalysts." Gold stocks jump on worries about US-Iran tensions.
Daiwa Capital Markets downgrades Kweichow Moutai to hold from outperform, citing "a lack of near-term share price catalysts." Gold stocks jump on worries about US-Iran tensions.
“Market players are generally upbeat on this year’s outlook,” said Zhou Ling, a hedge fund manager with Shanghai Shiva Investment. “The central bank’s reduction in deposit reserve ratio cemented their belief in a bull run.”
“Market players are generally upbeat on this year’s outlook,” said Zhou Ling, a hedge fund manager with Shanghai Shiva Investment. “The central bank’s reduction in deposit reserve ratio cemented their belief in a bull run.”
Stocks posted monthly gains in Hong Kong in four out of the five past Januaries.
Stocks posted monthly gains in Hong Kong in four out of the five past Januaries.
Shanghai Composite Index posts a more than 22 per cent gain for the year. It weathered economic slowdown and the US-China trade war. Hong Kong stocks faced those as well, plus nearly seven months of protests.
Shanghai Composite Index posts a more than 22 per cent gain for the year. It weathered economic slowdown and the US-China trade war. Hong Kong stocks faced those as well, plus nearly seven months of protests.
“Market sentiment remains good,” said Kenny Wen, wealth management strategist at Everbright Sun Hung Kai. “People are chasing those sectors lagging behind,” such as Hong Kong property.
“Market sentiment remains good,” said Kenny Wen, wealth management strategist at Everbright Sun Hung Kai. “People are chasing those sectors lagging behind,” such as Hong Kong property.
Mainland stocks get a boost from central bank move that will make borrowing cheaper for individuals and businesses.
Mainland stocks get a boost from central bank move that will make borrowing cheaper for individuals and businesses.
China property stocks get boost from news proposed property tax will likely be further delayed.
China property stocks get boost from news proposed property tax will likely be further delayed.
Tencent (700 HK), the Chinese mobile game and social media giant, has been on a big roll in December. It fell today.
Tencent (700 HK), the Chinese mobile game and social media giant, has been on a big roll in December. It fell today.
“The [Hang Seng Index] may face a bit resistance before 28,000, but I don’t expect a deep adjustment,” said Alan Li, portfolio manager at Atta Capital. It closed at 27,884.21 Wednesday, and he expects it to hit 28,000 by the end of the year.
“The [Hang Seng Index] may face a bit resistance before 28,000, but I don’t expect a deep adjustment,” said Alan Li, portfolio manager at Atta Capital. It closed at 27,884.21 Wednesday, and he expects it to hit 28,000 by the end of the year.
Tencent (700 HK) gained. It has risen on nine of the 10 last sessions. Liquor distiller giant Kweichow Moutai (600519 CH) lost 0.2 per cent to 1,168 yuan.
Tencent (700 HK) gained. It has risen on nine of the 10 last sessions. Liquor distiller giant Kweichow Moutai (600519 CH) lost 0.2 per cent to 1,168 yuan.
China's CSI 300 index of stocks traded in Shanghai and Shenzhen closes at eight-month high, as pent-up demand for stocks is released after US China trade deal.
China's CSI 300 index of stocks traded in Shanghai and Shenzhen closes at eight-month high, as pent-up demand for stocks is released after US China trade deal.
Despite Beijing’s anger about US bills supporting Hong Kong protesters and Uygur Muslims, investors are betting it wants to strike a deal with the US over trade tariffs amid an economic slowdown.
Despite Beijing’s anger about US bills supporting Hong Kong protesters and Uygur Muslims, investors are betting it wants to strike a deal with the US over trade tariffs amid an economic slowdown.
Apple supplier AAC Technologies (2018 HK) shoots up 9 per cent, while Alibaba (9988 HK) climbs 2.8 per cent. In China, Kweichow Moutai jumps 3.6 per cent.
Apple supplier AAC Technologies (2018 HK) shoots up 9 per cent, while Alibaba (9988 HK) climbs 2.8 per cent. In China, Kweichow Moutai jumps 3.6 per cent.
“The market remains highly uncertain,” said Kenny Wen, wealth management strategist at Everbright Sun Hung Kai. “The market is still waiting for further information on the trade deal.”
“The market remains highly uncertain,” said Kenny Wen, wealth management strategist at Everbright Sun Hung Kai. “The market is still waiting for further information on the trade deal.”
US President Donald Trump says he has no deadline for getting a partial trade deal completed with China. “I just tell you, in some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we’ll see whether or not the deal is going to be right"
US President Donald Trump says he has no deadline for getting a partial trade deal completed with China. “I just tell you, in some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we’ll see whether or not the deal is going to be right"
Traders are worried that Beijing’s anger over US legislation supporting Hong Kong protesters and condemning alleged abuse of Muslim minorities in northwest China threatens the US-China trade talks under way.
Traders are worried that Beijing’s anger over US legislation supporting Hong Kong protesters and condemning alleged abuse of Muslim minorities in northwest China threatens the US-China trade talks under way.
Alibaba (9988 HK) fell again, posting its third straight day of losses. Sa Sa International (178 HK), Hong Kong’s biggest cosmetics retailer, declined after announcing cost cutting measures as it reels from protests, trade war.
Alibaba (9988 HK) fell again, posting its third straight day of losses. Sa Sa International (178 HK), Hong Kong’s biggest cosmetics retailer, declined after announcing cost cutting measures as it reels from protests, trade war.
Concern about whether even a partial trade deal can be worked out between the world’s two largest economies was offset by economic data showing manufacturing expanded in November.
Concern about whether even a partial trade deal can be worked out between the world’s two largest economies was offset by economic data showing manufacturing expanded in November.
Alibaba (9988 HK) falls for first time since it started trading in Hong Kong on Tuesday.
Alibaba (9988 HK) falls for first time since it started trading in Hong Kong on Tuesday.
Alibaba (9988 HK) gained 5.6 per cent in its third day of trading, after news it is being fast tracked onto a broad version of Hong Kong’s benchmark stock index. That boosted hopes it will be added to the trading link between Hong Kong and mainland markets sooner than had been expected.
Alibaba (9988 HK) gained 5.6 per cent in its third day of trading, after news it is being fast tracked onto a broad version of Hong Kong’s benchmark stock index. That boosted hopes it will be added to the trading link between Hong Kong and mainland markets sooner than had been expected.
Author Derek Sandhaus examines the country’s long history and present relationship with alcohol.
Author Derek Sandhaus examines the country’s long history and present relationship with alcohol.
Alibaba finishes second day of trading with a nearly 3 per cent gain. MTR sees biggest gain since city leader Carrie Lam withdrew extradition bill that sparked ongoing protests.
Alibaba finishes second day of trading with a nearly 3 per cent gain. MTR sees biggest gain since city leader Carrie Lam withdrew extradition bill that sparked ongoing protests.
“We are seeing conflicting noise in the market,” said Ken Wong, a portfolio manager specialising on China at Eastspring Investments, referring to uncertainty about the pro-democracy bill in the US and its potential impact on trade talks.
“We are seeing conflicting noise in the market,” said Ken Wong, a portfolio manager specialising on China at Eastspring Investments, referring to uncertainty about the pro-democracy bill in the US and its potential impact on trade talks.
Meituan Dianping jumps on Q3 revenue beat; Kasen International soars nearly 500 per cent after rebuttal to short seller attack.
Meituan Dianping jumps on Q3 revenue beat; Kasen International soars nearly 500 per cent after rebuttal to short seller attack.
Donald Trump reportedly will sign legislation supporting Hong Kong protesters. That could upend progress on phase one US-China trade deal.
Donald Trump reportedly will sign legislation supporting Hong Kong protesters. That could upend progress on phase one US-China trade deal.
Stocks Blog: "Stocks fell in Hong Kong today on worries about escalating violence in the city and whether the US and China can reach even a partial trade deal," says Kenny Wen, wealth management strategist at Everbright Sun Hung Kai.
Stocks Blog: "Stocks fell in Hong Kong today on worries about escalating violence in the city and whether the US and China can reach even a partial trade deal," says Kenny Wen, wealth management strategist at Everbright Sun Hung Kai.
Alibaba seeing strong interest in orders for its US$13.9 billion Hong Kong secondary listing. China indexes close with biggest percentage gain in two weeks.
Alibaba seeing strong interest in orders for its US$13.9 billion Hong Kong secondary listing. China indexes close with biggest percentage gain in two weeks.
Protesters are testing out a new strategy of "weekday violence," including today in the Central business district and on campuses. The escalating violence is weighing down shares of retailers and property developers.
Protesters are testing out a new strategy of "weekday violence," including today in the Central business district and on campuses. The escalating violence is weighing down shares of retailers and property developers.
Swire Pacific falls after saying it expects to post a lower recurring profit for this year.
Swire Pacific falls after saying it expects to post a lower recurring profit for this year.