Hong Kong has long wanted to promote Islamic finance, but progress has been slow. Now, though, the time is more auspicious as the city seeks to diversify its financial services and business beyond Western or developed economies. At the same time, countries in the Middle East are moving quickly to form new business links with…
Hong Kong Debuts Islamic Bond ETF As part of ongoing efforts to strengthen Middle Eastern links, Hong Kong has launched its first-ever Islamic bond ETF. Hong Kong has listed its first-ever Islamic bond – also known as sukuk – exchange-traded fund (ETF), according to a statement by the Securities and Futures Commission (SFC). «Strengthening collaboration…
CLN KraneShares April Economic Data Release New Home Prices Month over Month -0.12% Used Home Prices MoM -0.41% Property Investment Year-to-Date (YTD) -10.3% versus expectations -10% and March’s -9.9% Residential Property Sales YTD -1.9% versus March’s -0.4% Retail Sales +5.1% versus expectation 5.8% and March’s 5.9% Online Retail Sales +7.7% YTD YoY Industrial Production +6.1%…
CLN KraneShares Key News Asian equities had a strong day on light volumes, except the Philippines, which was closed for Maundy Thursday, also known as Holy Thursday, commemorating the Last Supper. Hong Kong and Stock Connect are closed tomorrow and Monday. It was a fairly quiet night as Hong Kong rebounded by the same names…
CLN KraneShares Key News Asian equities experienced another deep drawdown, except for Hong Kong, Mainland China, and Thailand, as the Philippines missed the fun due to “Araw ng Kagitingan,” which celebrates the heroism of Filipino and American soldiers in World War II. This morning, China’s government reciprocated the U.S. government’s tariff increase by increasing tariffs…
CLN KraneShares Key News Mainland China and Hong Kong markets were closed overnight to celebrate the Ching Ming Festival (“Tomb Sweeping Day”). This is the day when Chinese families visit the tombs of their ancestors to clean the gravesites and make offerings. It is important to note that with China’s markets closed overnight, the natural…
CLN KraneShares Key News Asian equities were lower overnight following President Trump’s “Liberation Day” tariff announcements. Vietnam and Japan were hit hard, while Taiwan and Indonesia picked the right day to be closed. Hong Kong, Mainland China, and South Korea were all off, but quite resilient as all markets were down less than -2%. I…
CLN KraneShares Key News Asian equities mostly followed Wall Street lower overnight, except for Mainland China and Hang Seng Tech, as the Philippines and Singapore were hit the hardest. Yesterday’s market tantrum in the U.S. and China’s subsequent gains overnight, though Hong Kong was nearly flat overall, highlight the diversification benefits of owning China. Were…
CLN KraneShares Key News Asian equities were mixed but mostly lower overnight as the Philippines and Japan outperformed while Thailand and Hong Kong underperformed. Both Hong Kong and Mainland China underperformed the region and lost some of their strong gains from last week. However, Mainland investors bought the dip in Hong Kong intensively, pouring nearly…
CLN KraneShares Key News Asian equities were largely lower despite a weaker U.S. dollar overnight, as Japan outperformed and India underperformed. Hong Kong-listed growth stocks were hit with profit-taking, triggered by President Donald Trump’s last Friday night release stating “The Committee on Foreign Investment in the United States (CFIUS) will be used to restrict Chinese…