The city is slowly building up its foundation as a center for innovation and technology development By Lee Shih Ta “Without innovation and technology, there is no future” says John Lee Ka-chiu, Hong Kong’s leader. As a global financial and commercial hub, Hong Kong has been transforming itself into a technology-driven innovation center in…
* China shares slump as shape of Trump administration raises anxiety Hang Seng breaks support at 20,000 * Yuan slides to lowest since August * Chip, defence shares hit hardest By Jiaxing Li HONG KONG, – Hong Kong stocks tumbled to a seven-week low on Tuesday and Chinese markets notched their heaviest fall in nearly…
Hong Kong stocks fell for a second day, led by electric-car makers, on concerns Donald Trump’s return to the White House will heighten trade tensions, following his election pledges to raise tariffs on Chinese exports. Losses were limited on hopes China will frontload its stimulus to counter the impact. The Hang Seng Index dropped 0.3…
Hong Kong stocks rose, paring back a loss for the week, after property sales in China returned to growth for the first time this year, adding to evidence of stabilisation in the world’s second-largest economy. The Hang Seng Index gained 0.5 per cent to 20,417.72 as of 9.47am local time, paring to 0.6 per cent…
The Hang Seng Index fell 1.1 per cent to 20,469.32 as of 11.15am local time, erasing all gains from the past three days. China Merchants Bank slid after reporting a lower profit and Haier Smart Home retreated on lower-than-expected earnings, while WH Group rallied after its profit almost doubled. The Hang Seng Tech Index sank…
Hong Kong and Chinese stocks fell after a raft of sluggish economic data underscored the urgency for Beijing to roll out fiscal stimulus to stabilise growth. The Hang Seng Index fell 0.6 per cent to 20,976.99 as of 10.03am local time. The Hang Seng Tech Index eased 0.1 per cent. The CSI 300 Index lost…
Hong Kong and Chinese stocks both rebounded from sell-offs after China’s central bank kicked off a US$70 billion financing facility to fund institutional buying and traders bet on more fiscal stimulus to shore up growth. The Hang Seng Index jumped 4.2 per cent to 21,508.37 at the noon break, set to snap a two-day, 11…
Beijing’s big-bang stimulus may have restored more than US$3 trillion of value to Chinese stocks, but not everyone has been lucky enough to reap that windfall, especially those who timed their exit before the rally took hold. Retail giant Walmart sold 144.5 million of JD.com’s US-listed shares at US$24.95 each on August 20, missing out…
Hong Kong stocks soared for a sixth day in a row, hitting a 22-month high as the China market frenzy rolled on, while BlackRock said more stimulus from Beijing could be coming. The Hang Seng Index jumped 4.8 per cent to 22,151.09 as of 10.55am local time, the highest level since January 2023. The Hang…
Hong Kong stocks rallied, driving the market to its best month in almost two years. Major mainland Chinese cities removed more curbs on home purchases in a follow-up to Beijing’s stimulus package, brightening the recovery outlook. The Hang Seng Index surged 3.3 per cent to 21,321.97 at the local noon trading break. The benchmark has…