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Stocksi

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

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  • Gold and US Treasuries rally as investors sought safe haven assets. Stocks of gold and energy companies advanced as bullion and oil prices vault.
  • Japanese investment bank Nomura downgrades MSCI Hong Kong to ‘underweight’ from ‘neutral’ in its model portfolio

Hong Kong stocks gains were driven by insurance, banks and casino stocks with some investors saying conditions are right for a substantial rally in Chinese shares.

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The erratic performance of Chinese stocks is not giving investors the confidence to commit their funds for the long haul, so some are betting on proxies outside the country, according to top wealth managers.

While worries about Chinese consumers and government debt are making investors cautious, attractive investment opportunities exist, according to asset managers from Pimco and Amundi at a summit in Hong Kong.

Asia looks ready to turn a corner in quarterly earnings growth this results season. Here are five key themes to watch as the report cards roll in over the next few weeks.

Hang Seng Index hovers near a five-week low after comments by Fed chairman Jerome Powell, who said it could take ‘longer than expected’ to get inflation back on target.

Global fashion retailer Ralph Lauren will explore the ‘still significant’ growth opportunities in China’s key cities as it expands in a ‘disciplined and sequenced’ manner.

WeWork’s US$47 billion valuation plunged after the company’s 2019 IPO failed to materialise due to multiple controversies – but now co-founder and former CEO Neumann wants back in to the business

Debt-laden property developer Times China Holdings is faced with a winding-up petition as it becomes the latest property company creditors are seeking to liquidate.

Hong Kong stocks struck five week lows as consensus-beating GDP data reduced expectations of a rate cut in China, while weak retail, industrial and property data weighed on sentiment.

Hong Kong stocks declined to three week-lows as rising geopolitical tensions dealt a further setback to investor sentiment, already jittery ahead of a batch of economic data due to be released during the week.

Laura Cha worked hard to elevate Hong Kong’s prominence on the international stage since she became the first and only female chairman of HKEX in 2018. As her tenure draws to a close, she believes that aim is no less important today.

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Readers discuss suggestions that stringent checks on investors might scare them away, the need to widen pavements near beaches, and making payment on public transport more convenient for visitors.

A document published by the nation’s cabinet on Friday promises to promote the ‘high-quality’ development of China’s capital market by strengthening supervision and guarding against risks.

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Hong Kong stocks eased, pressured by the weak Chinese yuan currency and following trade data that showed a contraction in exports from the world’s second-largest economy.

Truong My Lan, 67, was found guilty of embezzlement, bribery, and banking regulation violations for orchestrating a massive fraud using hundreds of ghost companies.

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Hong Kong stocks tumble after data suggested China’s consumption demand remains weak and as investors lowered their bets on the US Federal Reserve cutting rates in June.

China’s stockbrokers took another pay cut in 2023 as the double whammy of a slumping equities market and a government crackdown on corporate extravagance eroded the incomes of financial workers. Things don’t look much better this year, one fund manager says.

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Companies in Saudi Arabis and Indonesia have shown a genuine interest in Hong Kong’s IPO market, Bonnie Chan Yiting, CEO of Hong Kong Exchanges and Clearing, says at a Legislative Council meeting on Monday.

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Yield-hungry Chinese investors are flocking to pockets of strength as property woes, volatile stocks and falling deposit rates reduce their options.

Stocks pare gains in week as traders continue to dial back bets on a rate cut in June amid concerns about sticky US inflation data. Trading shrinks as markets in mainland China are closed for a holiday.

China’s state-directed buying binge has swollen the size of exchange-traded funds (ETFs) tracking the underlying benchmark CSI 300 Index, helping them outperform the market while boosting their asset-size ranking.