China’s stocks fell for the first time this week, as investors struggle to find a catalyst for powering the trading pause in many global markets during the Christmas holiday week. The CSI 300 Index, which tracks 300 of the largest stocks in Shanghai and Shenzhen, slid 0.2 per cent to 3,976.53 as of 9.56am local…
Crude oil prices began trade with a gain today as traders turned their attention to U.S. monetary policy and China’s latest move to accelerate growth through stimulus measures. At the time of writing Brent crude was trading at $72.57 per barrel, with West Texas Intermediate changing hands for $68.98 per barrel. The climb followed an…
The Exchange Fund reported one of its best quarterly returns as stock markets rallied in Hong Kong and the United States, as a diversified investment approach helped to swell the financial war chest for defending the city’s currency peg. The fund’s investment return more than doubled to HK$224.7 billion (US$28.8 billion) in the first nine…
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…
If any more evidence were needed of a sense of urgency about the revival of China’s economy, it has come from the latest meeting of the Politburo, chaired by President Xi Jinping. The top decision-making gathering waived punishment for bureaucrats and officials who make mistakes in well-intended initiatives to boost the economy through inexperience, inadvertent…
China’s leaders are again seeking to rally risk-averse cadres to the cause of decisive economic action by stressing the need to “get things done” and its tolerance of mistakes in a policy known as the “three exempts”. The Politburo, the ruling Communist Party’s inner circle, signalled the renewed political commitment in a statement after a…
China’s mortgage rate cut for existing properties will hardly make any impact for Ivy Cai, as the Shanghai-based homeowner is facing the burden of a 15,000 yuan (US$2,131) monthly repayment. She is expected to save a few hundred yuan per month once the rate cut, announced on Tuesday as part of a bumper round of…