The lack of Google apps has been a problem for Huawei, with its consumer business missing its target by US$10 billion in 2019
It was a day of chopping trading in Hong Kong, with the benchmark fluctuating between losses and gains throughout the day.
Hong Kong and mainland stocks fell for a second straight day as investors moved to the sidelines amid lingering concerns over the US-China trade deal that will be signed later tonight in Washington.
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"
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.
China stocks rose on fresh data showing manufacturing activity is growing. Hong Kong-listed Chinese property developers rallied on new data showing strong contracted home sales in November.
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.
“The gains are highly related to the election results and the peaceful weekend,” said Alan Li, portfolio manager at Atta Capital.
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.
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.
Hong Kong market closes at fresh three-month high
Chinese listed companies’ profits increased in first nine months, exchanges say
China social media and gaming giant Tencent finished down 0.3 per cent at HK$319 -- below HK$320, which has been a key resistance level for it this year