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Business Recorder
6 days ago
- Business
- Business Recorder
China, HK stocks rebound after steep weekly loss
HONG KONG: Chinese and Hong Kong stocks gained on Monday, recovering from last week's sharp declines, as defence and tech stocks led gains. At market close, the Shanghai Composite index was up 0.7% at 3,583.31 points, recovering from losses in earlier trades. The blue-chip CSI300 index jumped 0.4%. The defence sector led the onshore market higher with a 2.9% gain. The semiconductor sector gained 1% and AI-related stocks added 0.9%. The rebound on Monday came after markets last week booked their steepest losses since April. The bullish trend for Chinese equities has started to show signs of slowing as the much anticipated Politburo meeting and tariff negotiations with the US both failed to deliver positive surprises. 'Market sentiment is becoming more volatile as positive catalysts are losing momentum,' Citic Securities said in a note, adding that investors might shift focus to defensive sectors for shelter or industries with clear growth trajectories. In Hong Kong, the benchmark Hang Seng Index was up 0.9% at 24,733.45, also recovering from last week's loss. The tech sector jumped 1.6% and AI-related shares added 1.7%, leading markets higher. Domestic ship stocks continued to rally on Monday after Beijing raised concerns over potential security risks in Nvidia's H20 chip. Looking ahead, markets are awaiting new developments on the trade truce between China and the US that expires on August 12. US Treasury Secretary Scott Bessent said Washington has the makings of a deal and was 'optimistic' about the path forward. 'Given rising uncertainties in the foreign market, especially in the US where Trump's intervention in economic reporting undermines the efficacy of policies, both on- and off-shore Chinese markets will likely be under pressure in the near term,' Hong Hao, chief investment officer at Lotus Asset Management, said in a note.
RTHK
7 days ago
- Business
- RTHK
HK and mainland markets rally after bad week
HK and mainland markets rally after bad week The Hang Seng Index ended trading on Monday up 225 points, or 0.92 percent, at 24,733. File photo: RTHK Mainland and Hong Kong stocks gained on Monday, recovering from last week's sharp declines, as defence and tech stocks led gains. The benchmark Hang Seng Index ended trading for the day up 225 points, or 0.92 percent, at 24,733. The Hang Seng China Enterprises Index climbed 1.01 percent to 8,893 while the Hang Seng Tech Index jumped 1.55 percent to 5,481. Up north, the benchmark Shanghai Composite Index closed up 0.66 percent at 3,583 while the Shenzhen Component Index closed 0.46 percent higher at 11,041. The combined turnover of these two indexes stood at about 1.5 trillion yuan, down from 1.6 trillion yuan on Friday. Sectors such as military equipment and gold led gains while stocks related to photovoltaic equipment suffered major losses. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 0.5 percent to close at 2,334 The rebound on Monday came after markets last week booked their steepest losses since April. The bullish trend for Chinese equities has started to show signs of slowing as the much anticipated Politburo meeting and tariff negotiations with the United States both failed to deliver positive surprises. "Market sentiment is becoming more volatile as positive catalysts are losing momentum," Citic Securities said in a note, adding that investors might shift focus to defensive sectors for shelter or industries with clear growth trajectories. The tech sector jumped 1.6 percent and AI-related shares added 1.7 percent, leading markets higher. Domestic chip stocks continued to rally on Monday after Beijing raised concerns over potential security risks in Nvidia's H20 chip. Looking ahead, markets are awaiting new developments on the trade truce between China and the United States that expires on August 12. US Treasury Secretary Scott Bessent said Washington has the makings of a deal and was "optimistic" about the path forward. "Given rising uncertainties in the foreign market, especially in the US where Trump's intervention in economic reporting undermines the efficacy of policies, both on- and off-shore Chinese markets will likely be under pressure in the near term," Hong Hao, chief investment officer at Lotus Asset Management, said in a note. (Reuters/Xinhua)
Free Malaysia Today
7 days ago
- Business
- Free Malaysia Today
China, Hong Kong stocks rebound after steep weekly loss
The small gains today came after markets booked their steepest losses since April last week. (EPA Images pic) HONG KONG : Chinese and Hong Kong stocks inched higher today, recovering from last week's sharp declines, as defense and banking stocks led gains. By the midday break, the Shanghai Composite index was up 0.2% at 3,567.02 points, recovering from losses in the opening hour. The blue-chip CSI300 index was barely changed. The defence sector led the onshore market higher with a 2.2% gain. The banking sector added 1% and semiconductors gained 0.4%. The small gains today came after markets booked their steepest losses since April last week. The bullish trend for Chinese equities has started to show signs of slowing as the much anticipated Politburo meeting and tariff negotiations with the US both failed to deliver positive surprises. 'Market sentiment is becoming more volatile as positive catalysts are losing momentum,' Citic Securities said in a note, adding that investors might shift focus to defensive sectors and those more insulated from external shocks. In Hong Kong, the benchmark Hang Seng Index was up 0.5% at 24,627.25, also recovering from last week's loss. The tech sector jumped 0.9% and AI-related shares added 1%, leading markets higher. Looking ahead, markets are awaiting new developments on the trade truce between China and the US that expires on Aug 12. US treasury secretary Scott Bessent said on Friday that Washington has the makings of a deal and was 'optimistic' about the path forward. China's trade data and CPI readings later this week will also give investors more clues about the health of the world's second-largest economy. 'Given rising uncertainties in the foreign market, especially in the US where Trump's intervention of economic reporting undermines the efficacy of policies, both on- and off-shore Chinese markets will likely be under pressure in the near term,' Hong Hao, CIO at Lotus Asset Management, said in a note.
Business Recorder
7 days ago
- Business
- Business Recorder
China, Hong Kong stocks rebound after steep weekly loss
HONG KONG: Chinese and Hong Kong stocks inched higher on Monday, recovering from last week's sharp declines, as defense and banking stocks led gains. By the midday break, the Shanghai Composite index was up 0.2% at 3,567.02 points, recovering from losses in the opening hour. The blue-chip CSI300 index was barely changed. The defence sector led the onshore market higher with a 2.2% gain. The banking sector added 1% and semiconductors gained 0.4%. The small gains on Monday came after markets booked their steepest losses since April last week. The bullish trend for Chinese equities has started to show signs of slowing as the much anticipated Politburo meeting and tariff negotiations with the U.S. both failed to deliver positive surprises. 'Market sentiment is becoming more volatile as positive catalysts are losing momentum,' Citic Securities said in a note, adding that investors might shift focus to defensive sectors and those more insulated from external shocks. In Hong Kong, the benchmark Hang Seng Index was up 0.5% at 24,627.25, also recovering from last week's loss. The tech sector jumped 0.9% and AI-related shares added 1%, leading markets higher. Looking ahead, markets are awaiting new developments on the trade truce between China and the U.S. that expires on August 12. U.S. Treasury Secretary Scott Bessent said on Friday that Washington has the makings of a deal and was 'optimistic' about the path forward. China's trade data and CPI readings later this week will also give investors more clues about the health of the world's second-largest economy.
Yahoo
09-07-2025
- Business
- Yahoo
Apple supplier Lens Tech said to price US$607 mil Hong Kong listing at top of range
The company, which makes mobile-phone-glass covers and other components for consumer electronics, joins the growing wave of China-listed companies seeking to go public in Hong Kong. Apple supplier Lens Technology Co. has raised HK$4.8 billion ($781 million) after pricing its Hong Kong listing at the top of the marketed range, according to people familiar with the matter. The Shenzhen-listed company has sold 262.3 million shares at HK$18.18 each, the people said, asking not to be identified because the information isn't public. Lens Technology had offered the shares at HK$17.38 to HK$18.18 apiece. The HK$18.18 price reflects a discount of 30% to Lens Technology's closing price of 23.74 yuan on Friday. A representative for Lens Technology declined to comment. The company, which makes mobile-phone-glass covers and other components for consumer electronics, joins the growing wave of China-listed companies seeking to go public in Hong Kong. Lens Technology expects the shares to start trading in the city on Wednesday. Proceeds from the sale will be used to expand the company's product and service portfolio, broaden its overseas presence and production capacity, as well as for work on smart-manufacturing projects such as automated industrial systems, according to a prospectus for the listing. Citic Securities Co. is the sole sponsor for Lens Technology's listing. See Also: Click here to stay updated with the Latest Business & Investment News in Singapore How Xiaomi succeeded where Apple failed Hong Kong to reclaim top spot in global IPOs: PwC Gold miner Shanjin Int'l said to pick banks for Hong Kong listing Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World Get in-depth insights from our expert contributors, and dive into financial and economic trends Follow the market issue situation with our daily updates Or want more Lifestyle and Passion stories? Click hereError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
