More Monetary Authority interventions likely, says Standard Chartered
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South China Morning Post
27 minutes ago
- South China Morning Post
Hong Kong stocks waver as traders focus on US tariff threats, ignore China trade data
Hong Kong stocks fluctuated on Monday as traders weighed renewed US tariff threats against better-than-expected China trade data. The Hang Seng Index rose 0.1 per cent to 24,148.71 as of 10.05am local time after dropping as much as 0.2 per cent. The Hang Seng Tech Index fell 0.1 per cent. On the mainland, the Shanghai Composite Index advanced 0.3 per cent, while the CSI 300 Index was little changed. Electric-car maker Li Auto gained 2.8 per cent to HK$111.90, while coal miner Zijin Mining Group advanced 3.3 per cent to HK$20.65 and China Shenhua Energy added 4.2 per cent to HK$32.20. The laggards included search-engine operator Baidu, which slumped 3.1 per cent to HK$83.85, while e-commerce leader slid 1.5 per cent to HK$121.40 and online travel platform eased 1.4 per cent to HK$481.20. US President Donald Trump on Friday proposed raising baseline tariffs on imports to 15 to 20 per cent, and later threatened 30 per cent duties on goods from the European Union and Mexico from August 1, despite ongoing talks. China's exports in yuan terms rose 7.2 per cent year on year from January to June, official data released on Monday morning showed, beating a 5 per cent increase forecast by Bloomberg, as exporters took advantage of a 90-day tariff truce to speed up their shipments. The figure follows a 4.8 per cent growth in May.
South China Morning Post
44 minutes ago
- South China Morning Post
Singapore dodges recession as economy grows 4.3% in second quarter amid tariff uncertainty
Singapore 's economy grew a faster-than-expected 4.3 per cent in the second quarter year-on-year, preliminary government data showed on Monday, despite a dimming outlook due to global economic uncertainty. The trade ministry's advance estimate for gross domestic product in the April to June period compared to an expected expansion of 3.5 per cent, according to economists polled by Reuters. On a quarter-on-quarter seasonally adjusted basis, GDP grew 1.4 per cent in the April to June period, the advance estimates showed, avoiding a technical recession after the first quarter's revised 0.5 per cent contraction. 'The economy is holding up despite tariff and geopolitical shocks. The de-escalation in the US-China tariff war and front-loading of exports during the 90-day reprieve has cushioned the tariff shocks,' Maybank economist Chua Hak Bin said. On Thursday, Trade Minister Gan Kim Yong said the economy likely held up well in the first half of 2025 as businesses took advantage of the pause in tariffs to front-load exports to the US , but warned that growth could slow in the next six to 12 months. The trade ministry in April downgraded the city state's GDP forecast for 2025 to a range of 0 per cent to 2 per cent from 1 per cent to 3 per cent. Singapore's Deputy Prime Minister and Minister of Trade and Industry Gan Kim Yong said the economy likely held up well in the first half of 2025 as businesses took advantage of the pause in tariffs to front-load exports to the US. Photo: Reuters
South China Morning Post
an hour ago
- South China Morning Post
Building on a century of vision: Irene Lee's leadership at Hysan Development
Under the stewardship of chairman Irene Lee, Hysan Development is redefining urban sustainability and community in Hong Kong. Anchored by a century-old legacy, Lee's leadership is driving the transformation of Causeway Bay with a future-focused vision and a 'Core and Pillars' strategy that set new benchmarks for urban evolution in Hong Kong. By spearheading the development of Hysan's Lee Gardens area, Lee is ensuring the company retains its strong foundation in Hong Kong while addressing the needs of an ever-changing city. Urban transformation Hysan's latest milestone, Lee Garden Eight – a 1 million sq ft premium commercial development set for completion in 2026 – will expand the Lee Gardens leasable portfolio by approximately 30 per cent, establishing new benchmarks for sustainability and connectivity. This groundbreaking project and the broader Lee Gardens rejuvenation, including new pedestrian bridges, with a total investment by Hysan and its tenants amounting to approximately HK$30 billion, illustrate Lee's devotion to creating people-centric spaces that anticipate the emerging needs of Hong Kong's dynamic community. 'Our roots are deep, but our vision is always forward-looking,' Lee says. 'We are true to my grandfather's vision, which was to create a commercial precinct catering to a growing and increasingly prosperous population. It sets our bedrock while we remain committed to a dynamic curation which addresses changes and structural shifts. We are devoted to adapting and transforming Lee Gardens for those who visit, work, shop, or just come to enjoy the area. Our legacy must remain relevant for future generations.'
