Latest news with #ChinaSecurities
Business Recorder
6 hours ago
- Business
- Business Recorder
China and Hong Kong stocks gain ahead of Sino-US trade talks
HONG KONG: China and Hong Kong stocks edged higher on Monday, led by gains in rare-earth and technology sectors, as investors awaited the high-level US-China trade negotiations in London. China's blue-chip CSI300 Index climbed 0.3% in early trades, while the Shanghai Composite Index gained 0.4%. Hong Kong benchmark Hang Seng advanced more than 1% and reclaimed the key 24,000 level, first time since March 21. Sentiment was cautiously positive, with the US and China set to resume trade talks later in the day. Top US officials including Treasury Secretary Scott Bessent and China's vice premier He Lifeng will meet in London for talks aimed at resolving a trade dispute between the world's two largest economies. The meeting follows a rare leader-to-leader call between Chinese leader Xi Jinping and US President Donald Trump on Thursday, after weeks of brewing trade tensions and a dispute over critical minerals. 'We think there could be some favourable outcomes from the meeting as Trump has hinted some positive signs,' analysts at China Securities said in a note, adding that any progress will offer markets some relief. The strategically-important rare earth sector, which is expected to be a key focus of the talks, led onshore gains on Monday, up 0.8%. Technology shares led markets higher in Hong Kong, with the Hang Seng Tech Index rising 2% to a near three-week high. Chinese stocks have been struggling for direction since the April 2 'Liberation Day', when Trump announced sweeping reciprocal tariffs that threatened to upend the global trade order. China, HK stocks close down as US-China call offers no clear progress on trade The blue-chip CSI300 Index onshore has barely budged from the April 2 level, and Hong Kong's benchmark Hang Seng Index gained around 2% during the period, both lagging the recovery among major global markets. Elsewhere, China's consumer prices fell for a fourth straight month in May while producer deflation deepened, as the economy faces headwinds from trade tensions and a prolonged housing downturn.
New Straits Times
9 hours ago
- Business
- New Straits Times
China and Hong Kong stocks gain ahead of China-US trade talks
HONG KONG: China and Hong Kong stocks edged higher on Monday, led by gains in rare-earth and technology sectors, as investors awaited the high-level US-China trade negotiations in London. China's blue-chip CSI300 Index climbed 0.3 per cent in early trades, while the Shanghai Composite Index gained 0.4 per cent. Hong Kong benchmark Hang Seng advanced more than 1 per cent and reclaimed the key 24,000 level, first time since March 21. Sentiment was cautiously positive, with the US and China set to resume trade talks later in the day. Top US officials including Treasury Secretary Scott Bessent and China's vice premier He Lifeng will meet in London for talks aimed at resolving a trade dispute between the world's two largest economies. The meeting follows a rare leader-to-leader call between Chinese leader Xi Jinping and US President Donald Trump on Thursday, after weeks of brewing trade tensions and a dispute over critical minerals. "We think there could be some favourable outcomes from the meeting as Trump has hinted some positive signs," analysts at China Securities said in a note, adding that any progress will offer markets some relief. The strategically-important rare earth sector, which is expected to be a key focus of the talks, led onshore gains on Monday, up 0.8 per cent. Technology shares led markets higher in Hong Kong, with the Hang Seng Tech Index rising 2 per cent to a near three-week high. Chinese stocks have been struggling for direction since the April 2 "Liberation Day", when Trump announced sweeping reciprocal tariffs that threatened to upend the global trade order. The blue-chip CSI300 Index onshore has barely budged from the April 2 level, and Hong Kong's benchmark Hang Seng Index gained around 2 per cent during the period, both lagging the recovery among major global markets. Elsewhere, China's consumer prices fell for a fourth straight month in May while producer deflation deepened, as the economy faces headwinds from trade tensions and a prolonged housing downturn.
Yahoo
07-05-2025
- Business
- Yahoo
Chinese Regulator Applauds Warren Buffett's Long-Term Approach
(Bloomberg) -- China's top securities regulator has become a surprising addition to the chorus of voices praising Warren Buffett, after the legendary investor announced his plan to step down as chief executive of Berkshire Hathaway Inc. Most Read from Bloomberg Buffett is retiring as CEO 'but the fundamental principles of long-term value investing, rational investment, and striving to reward investors will never retire,' Wu Qing, chairman of the China Securities Regulatory Commission, said during a press conference in Beijing on Wednesday. Wu was speaking alongside other officials, including the head of the People's Bank of China, who had assembled to announce rate cuts and other policies intended to stabilize a market that has been rocked by fears over the trade war. Those moves were an attempt to address short-term uncertainty — but Wu also said China will nurture investment firms that take a Buffett-style long-term approach to investing. 'Perhaps there won't be just one or two 'stock gods,' but undoubtedly some century-old institutions and exceptional investment teams will rise in our market,' he said. The comments show China's desire to combat volatility in a market where retail investors still drive the majority of trading volumes, a contrast to markets like the US where institutional investors hold more sway. Small investors have a reputation for short-termism during periods of boom and bust as crowd behavior emerges. It remains debatable how suitable China's stock market is for long-term investment, given its vulnerability to policy shifts from Beijing. Foreign investors, in particular, have long debated whether the market is 'uninvestable.' But Wu's comments make clear that Beijing is determined to bring long-term capital to play. Wu said Wednesday that China would promote the sale of equity mutual-funds. An action plan to reform the nation's $4.5 trillion mutual funds industry will be announced later in the day, he said. Beijing has previously pushed mutual funds and insurers to put more of their money into the stock market. Buffett, 94, surprised investors days ago when he announced his decision to step down as CEO of the business he built into one valued at more than $1.16 trillion. He ran the firm for six decades, longer than modern-day Chinese stock markets have been around. He will remain chairman of the firm.
South China Morning Post
05-05-2025
- Automotive
- South China Morning Post
Tesla pushes lidar-free self-driving system in China amid wait for Beijing's FSD approval
Advertisement The US carmaker will 'adhere to visual processing solutions' to achieve safer intelligent driving in various scenarios, the company said in a post on Chinese microblogging platform Weibo on Sunday. It added that this initiative would prove that 'advanced technology doesn't require expensive, complicated sensors'. The post formed part of Tesla's latest social-media campaign on the mainland, which reasserts billionaire chief executive Elon Musk 's scepticism of lidar – short for light detection and ranging. Similar to radar, lidar uses lasers to measure a car's distance from objects, providing higher precision in certain environments. Musk in 2019 famously dismissed the idea of installing lidar sensors on EVs, calling it a 'a fool's errand' because of the high production costs involved. Advertisement On the mainland, however, one out of every four new cars taking to the streets this year is expected to be fitted with at least one lidar sensor, according to a recent China Securities report.
South China Morning Post
10-03-2025
- Business
- South China Morning Post
Stop ‘flaunting wealth', Chinese bankers told in new guidelines
China's securities association has published new draft guidelines that will penalise companies whose staff flaunt their wealth and privilege, as Beijing continues its drive to remould an industry once known for its lavish lifestyle. Advertisement In the proposed revisions to its rules, the Securities Association of China has added tougher points deductions for firms that 'offer questionable pay incentives', or whose staff 'flaunt wealth' and indulge in 'excessive luxury', Chinese financial media outlet Cailian Press reported on Friday. The revised guidelines are currently open for industry feedback. If passed, they will affect the way the association assesses securities' firms corporate culture, with each firm receiving a score that is made public. The move is part of China's broader push to reshape its financial sector – once known for its streams of hot money, big bonuses, and over-the-top lifestyle – into a disciplined industry that puts the national interest over excessive profits. China's finance sector has been rocked by a string of wealth-flaunting scandals in recent years. Advertisement Last year, China Securities, a leading brokerage, was embroiled in public controversy after an intern posted a video boasting about their wealth and leaking client information, sparking questions about the company's workplace culture. In 2022, an employee at China International Capital Corporation was suspended after his wife revealed his monthly salary of more than 80,000 yuan (US$11,000) on the social media platform RedNote, triggering uproar over high pay in the financial sector.
