Hong Kong stocks rise driven by economic optimism after policy loosening measures announced by nearly 60 Chinese cities targeted the floundering property market with upbeat trade data providing a further boost.

Investors should exercise caution while chasing Chinese stocks, among the best performers globally last month, amid technical signs the market is in overbought territory, US investment bank says in report.

‘Earnings are set to pick up as property activity stabilises and inflation recovery fuels household income and consumer spending growth,’ UBS strategist Meng Lei says.

Chinese regulators are scrutinising old business deals and bank accounts of senior executives as they ramp up inspections of stock-listing hopefuls. No companies have lodged IPO plans in Shanghai and Shenzhen this year.

Hong Kong stocks fell for the second straight day on Wednesday as investors awaited trade data which is expected to show both exports and imports returned to expansion territory in April, following a contraction in the previous month.

Swiss financial firm EFG has increased its investment in Chinese and other non-Japan Asian stocks, on expectations of steady growth in the region and driven by the belief the worst was over for stocks in China.

Hong Kong stocks decline from an eight-month high as traders cash in on the market bull run, while robust mainland tourism data for the holiday period fails to lift sentiment.

Investor sentiment has turned positive after a clutch of global investment banks made positive calls on Chinese stocks amid expectations of more policy support from Beijing.

Hong Kong’s Exchange Fund, the war chest used to defend the local currency, continued its comeback in the first quarter, posting a return of HK$54.3 billion (US$7 billion) as rising overseas stock markets offset losses in domestic equities.

Investment banks including Goldman Sachs, UBS and BNP have become more positive on Chinese stocks, with foreign selling having subsided. But the property crisis, deflationary risks and tepid consumer demand mean global investors are yet to go all ‘all in’.

Fintech company Stacs and ESG consulting firm Downundered are among those offering tools for SMEs to measure emissions.

A dovish US Federal Reserve and a gigantic share buy-back programme from Apple lifted Hong Kong stocks with sentiment remaining upbeat after China’s top policymakers signalled further support to economic growth.

Mainland China investors will gain access to Hong Kong’s Reits via an expanded mutual market access scheme in a move which will deepen the market, enhance its liquidity and attract international issuers, analysts say.

Hong Kong kept its key interest rate unchanged for a sixth consecutive time in lockstep with the Federal Reserve’s overnight decision, with sticky US inflation forcing investors to delay rate cut bets.

Foreign investors loaded up on Chinese stocks for a third straight month in April, adding to evidence that global fund managers have become more positive about the world’s second-largest market.

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Six bitcoin and ether ETFs saw US$12 million in trading on Tuesday, compared with US$4.6 billion for US bitcoin ETFs on their first day.

Hong Kong stocks emerged as the best-performing key market globally in April, after funds sought bargains by shifting out of expensive US and Japanese equities and as China’s growth shows more signs of stabilising.

Hong Kong’s market is the best performer among major peers globally this month, and better-than-expected manufacturing activity in mainland China is expected to add further impetus.

The Warren Buffett-backed carmaker posted first-quarter net profit of 4.57 billion yuan (US$631 million), 47.3 per cent lower than the quarter ended December 2023.

Hong Kong stocks closed near bull market territory after corporate earnings continued to surprise on the upside with property sector support measures on mainland China adding to the momentum.

Reinhold Geiger is considering making an offer for the L’Occitane shares he does not already own at HK$33 to HK$34 apiece as early as Monday.

CICC cuts pay amid brutal business environment as a sluggish economy and dismal IPO volumes hurt the financial services sector.

This was the smallest batch of video games approved so far this year by regulator the National Press and Publication Administration.

Chinese local government entities have carried the mantle of cornerstone investors in first-time stock offerings in Hong Kong in the past two years as foreign investors shun deals. Their outsize role could work against the city’s capital market, market experts say.