Stock market action from around the world, with a focus on Hong Kong, China and the rest of Asia.

  • The Saudi public fund would join existing owners including Qatar, which holds 20 per cent, and Singapore’s GIC sovereign wealth fund, which has an 11.2 per cent stake
  • Heathrow is a major destination for flights from the Gulf region, with Emirates, Qatar Airways and Etihad Airways serving the hub with multiple arrivals a day

Charlie Munger, a former lawyer, was Warren Buffett’s deputy at Berkshire Hathaway. He was a value investor who believed in long-term investments and companies’ intrinsic value.

Meituan plunged after warning about a slowdown in demand, erasing all of the stock’s post-Covid rebound. The Hang Seng Index has erased all of its gain in November, having also lost 15 per cent in preceding three months.


The BSE 50 Index sinks by a record after the exchange moves to tamp down a rally of more than 50 per cent in the last month. The 232 stocks that trade on the bourse have a market capitalisation of US$58.3 billion.

Local stocks suffered another bout of selling amid concerns about China’s weakening earnings and recovery momentum. Small-caps sank by a record in Beijing, while SenseTime tumbled after a short-seller attack.

Index compiler China Securities Index is making a conscious effort to increase the representation of tech firms in the CSI 300 Index. The gauge is among the worst-performing benchmarks globally this year.


Stocks fell, approaching a two-week low, before government reports this week that may show China’s struggle to revive its faltering economy. Banks led losses, while BYD tumbled on concerns about EV price war.

Stocks pared gains in week as corporate earnings so far from Hang Seng Index members trailed market projection with tech and banks among the biggest culprits.

Hong Kong stocks ended a rangebound trading day on a cautious note, with eyes on pending corporate earnings releases, but Baidu outperformed the broad market after unveiling better than expected results.

Funds raised by share listings in the city declined 59 per cent year on year to US$5.3 billion as of November 17, according to a report from EY, which calls for more government and regulatory action to woo foreign capital.

Troubled developer’s shares soared after it said it had satisfied conditions for a long-awaited offshore debt restructuring – the first of its kind since the crisis in China’s property sector erupted.

Stocks surrendered gains as mainland traders sold local shares for a second consecutive day, offsetting the positive impact of the yuan’s appreciation to a five-month high against the US dollar.

At least 16 analysts have reduced their stock valuation after last week’s sell-off in New York and Hong Kong, driving the consensus to a record low. Jefferies, CICC and Guotai Junan are the most aggressive among them.


Hong Kong stocks rose, extending last week’s gain, after Chinese regulators said they would support financing activities by property developers, adding to optimism about a stabilisation of economic growth.

Alibaba announced overnight that it would not proceed with the full spin-off of its cloud computing unit after posting 9 per cent revenue growth in its September quarter.

Chinese electric-car maker Li Auto and pharmaceutical company WuXi Apptec will join the Hang Seng Index as new constituents next month, according to the latest quarterly review by Hong Kong’s index compiler.

The Hong Kong Monetary Authority is working with the city’s other market regulators to see how banks can help the local stock market stay open during typhoons and rainstorms.

Stocks slipped in Hong Kong amid the biggest sell-off in Alibaba Group in 13 months. The e-commerce group cancelled a key part of its business reorganisation amid heightened US-China tech rivalry.


The war chest used to defend Hong Kong’s currency posted a third quarter loss but still reported strong returns in the first nine months of 2023 as robust performance in the bond market offset losses in stocks.

China’s initial public offering (IPO) volume has slumped 70 per cent from a year ago after the securities regulator pledged in late August to bolster the sluggish stock market by restricting approvals and slowing down the pace of new-share offerings.

US chip maker Nvidia’s record-tying streak of gains ended after a technical signal flashed a warning sign and the unveiling of a competing artificial intelligence chip from Microsoft.

Local stocks fail to hang onto Wednesday’s big rally amid concerns about weak tech earnings. The Xi-Biden meeting in San Francisco has done little to shore up appetite for riskier assets.


Two of the world’s biggest state owned investors have poured money into China’s consumption stocks during the third quarter, at a time when Western investors are retreating over growth concerns and amid an intensifying property crisis.

Shares of AI chip maker Nvidia rose 2.1 per cent Tuesday to close at a record high and notch its 10th consecutive session of gains, matching its longest-ever streak of advances.

Easing US inflation and a faster than anticipated increase in China’s retail and industrial figures aided sentiment, lifting the Hang Seng Index to a 1-month high.

Chinese manufacturers of machinery, textiles and electronics with significant exposure to the US market could extend gains, as the upcoming meeting between President Xi Jinping and US President Joe Biden has stoked hopes of a reduction in US tariffs and an easing of technology curbs.

Some fund managers are keeping their bullish view on cheap Chinese stocks after months of sell-off, while reports showed weak economic recovery with the latest credit data falling short of market expectations.