Resource constraints and precedent mean China is unlikely to become one of Ukraine’s security guarantors – despite Russia’s suggestion that it could, according to analysts. With rising expectations for a face-to-face meeting between Russian President Vladimir Putin and his Ukrainian counterpart Volodymyr Zelensky, security guarantees for Kyiv have taken centre stage in discussions about a…
(Bloomberg) — Sharp losses in high-flying momentum stocks may present a dip-buying opportunity if history is any guide, according to Goldman Sachs Group Inc.’s trading desk. The traders cited rebounds after similar prior losses in Goldman’s High Beta Momentum basket, coupled with the current technical setup. Most Read from Bloomberg When the long-short momentum basket…
(Bloomberg) — Hong Kong Exchanges and Clearing Ltd. delivered record profit in the second quarter as initial public offerings and trading boomed. The bourse’s second-quarter profit rose 41% to HK$4.44 billion ($570 million), according to a statement Wednesday. Core revenue rose to HK$6.64 billion. Most Read from Bloomberg Hong Kong’s stock market has boomed this…
Mainland Chinese stocks rose on Monday, driving a key gauge to a decade high amid increasing signs that investors have been rotating out of bonds and bank deposits into equities in hunt for better returns. The Shanghai Composite Index advanced 0.9 per cent to 3,728.03 at the close, a level not seen since August 19,…
(Bloomberg) — A gauge of Shanghai-listed stocks closed at its highest level in a decade, as cash-rich local investors plow into a market that has surged amid easing trade tensions with the US. The Shanghai Stock Exchange Composite Index jumped 0.9% to close at 3,728 on Monday, its strongest finish since August 2015, according to…
Zhejiang Leapmotor Technology, once a fringe player in China’s electric vehicle (EV) industry, is beating all its start-up rivals by sales and stock gains this year and analysts say there is more to come. The carmaker’s Hong Kong-listed shares have doubled since January – outpacing better-known peers XPeng and Xiaomi – and have surged more…
A technician works on a computer at the Applied Materials Inc. facility in Santa Clara, California. (Bloomberg) — Applied Materials Inc. suffered the worst single-day stock decline in five years after giving a disappointing sales and profit forecast, renewing concerns that the US trade dispute with China is weighing on demand. Most Read from Bloomberg…
The Marriner S. Eccles Federal Reserve building in Washington, DC. Photographer: Al Drago/Bloomberg (Bloomberg) — US short-dated bonds yields fell to their lowest levels in more than three months, reflecting conviction among traders that the Federal Reserve will cut interest rates in September. The two-year yield, among the most sensitive to changes in monetary policy,…
CK Asset Holdings, one of the flagship companies owned by billionaire Li Ka-shing’s family, reported weaker-than-expected first-half profit amid a challenging housing market in Hong Kong and declining rental income from its commercial properties. Profit attributable to shareholders fell 26.2 per cent to HK$6.3 billion (US$806.4 million) in the six months to June, according to…
Miami International Holdings (MIAX) signage during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange on Aug. 14. (Bloomberg) — Miami International Holdings Inc. rose 33% from its initial public offering price as the exchange operator became the most recent financial services business to get a warm welcome in…