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South China Morning Post
28-04-2025
- Business
- South China Morning Post
Hong Kong stocks slip as investors await Beijing briefing on economic growth
Hong Kong stocks edged down as investors awaited potential stimulus measures from Chinese authorities in an imminent briefing, amid uncertainty about economic support for the country's recovery and tariff tensions with the US. Advertisement The Hang Seng Index dropped 0.5 per cent to 21,882.57 as of 9.45am local time. The Hang Seng Tech Index lost 0.2 per cent. On the mainland, the CSI 300 Index slipped 0.2 per cent and the Shanghai Composite Index dropped 0.3 per cent. BYD Electronic International fell 6.6 per cent to HK$32.45, while electric-vehicle maker BYD slid 4.6 per cent to HK$29.40. Ping An Insurance Group declined 2.2 per cent to HK$44.95, and China Resources Land dropped 3.1 per cent to HK$26.25. On the flip side, e-commerce giant rose 1.7 per cent to HK$125.90, Sinopharm gained 2 per cent to HK$17.76 and Wuxi Biologics rose 1.1 per cent to HK$23.05. Advertisement Retail broker Bright Smart Securities surged 34.8 per cent to HK$4.11 after it resumed trading following an announcement that mainland China's online payment giant Ant Group agreed to buy a controlling stake Multiple Chinese agencies are set to hold a joint briefing at 10am local time to discuss policies and measures on stabilising employment, ensuring stable growth and promoting high-quality development. The National Development and Reform Commission, Ministry of Human Resources and Social Security, Ministry of Commerce and the People's Bank of China are in the line-up.
South China Morning Post
14-04-2025
- Business
- South China Morning Post
Hong Kong stocks rise for fifth day as Trump suspends tariffs on electronics
Hong Kong stocks rose for a fifth day, putting the benchmark on course for its longest winning streak in nearly three months, after the US suspended tariffs on an array of consumer electronics. Advertisement The Hang Seng Index rose 1.7 per cent to 21,271.95 as of 9.52am local time. The Hang Seng Tech Index gained 2.2 per cent. On the mainland, the CSI 300 Index climbed 0.4 per cent and the Shanghai Composite Index added 0.6 per cent. Electronics firms led the market higher. Personal-computer maker Lenovo Group advanced 5.5 per cent to HK$8.46 and BYD Electronic International rallied 4.3 per cent to HK$34.25. Alibaba Group Holding gained 3.7 per cent to HK$106.80 and Tencent Holdings added 1.6 per cent to HK$450.60. The pause on duties includes smartphones, laptops and memory chips, though US President Donald Trump said the exemption was only temporary and that he would come up with separate tariffs on these items. Advertisement Elsewhere in Asia-Pacific, Japan's Nikkei 225 climbed 1.4 per cent, South Korea's Kospi rose 0.9 per cent and Australia's S&P/ASX 200 added 1 per cent.
South China Morning Post
04-03-2025
- Automotive
- South China Morning Post
Hong Kong stocks sink to almost 2-week low as Trump's tariffs stoke trade-war fears
Hong Kong stocks slumped to an almost two-week low, taking cues from sell-offs in the US and Asia after US President Donald Trump's tariff approach stirred fears of a global trade war. Advertisement The Hang Seng Index fell 1.7 per cent to 22,614.55 as of 10.02am local time, heading for the lowest close since February 20. The Hang Seng Tech Index dropped 2.6 per cent. On the mainland, the CSI 300 Index slid 0.6 per cent and the Shanghai Composite Index retreated 0.3 per cent. Electric-vehicle maker BYD plunged 7.1 per cent to HK$338 on a plan to raise as much as HK$40.7 billion (US$5.05 billion) in its biggest-ever share placement . Affiliate BYD Electronic International slid 3.1 per cent to HK$46.75. Alibaba Group Holding retreated 3.1 per cent to HK$126.40, and Tencent Holdings sank 1.2 per cent to HK$477.60. Trump reaffirmed with reporters that the tariff on Chinese imports would be doubled to 20 per cent, a move he first announced on his social-media account last week. The 25 per cent tariffs on Canada and Mexico would come into effect on Tuesday after the end of a reprieve period. China will take countermeasures against the US tariffs to protect its own interests, according to a statement by the commerce ministry on Tuesday. Meanwhile, Canada said that it was preparing retaliatory measures. Advertisement Two companies started trading. Auto-parts maker Hefei Conver Holding jumped 98 per cent to 47.85 yuan in Shanghai and Jiangsu Changyou Environmental Protection Technology, a maker of advanced materials, soared 243 per cent to 99.15 yuan in Shenzhen.
