Latest news with #Hang Seng
Bloomberg
18 hours ago
- Automotive
- Bloomberg
Price War Hits to China Corporate Profits Confirm Investor Fears
Two of China's corporate heavyweights Inc. and Geely Automobile Holdings Ltd. have revealed the scope of the earnings impact they're having from brutal price competition, and investors are hitting the sell button. Shares of slid as much as 4.5% in Hong Kong after the online retailer reported quarterly profit halved from a year ago. Electric-vehicle maker Geely's stock tumbled nearly 6% on a drop in net income before erasing the loss. Respective rivals fell in sympathy, and the Hang Seng China Enterprises Index sank 1.5%.
Free Malaysia Today
05-08-2025
- Business
- Free Malaysia Today
China's stocks extend gains as key services data lifts sentiment
China's blue-chip CSI300 Index was up 0.3% by the lunch break, while the Shanghai Composite Index gained 0.5%. (EPA Images pic) HONG KONG : China and Hong Kong stocks climbed for a second consecutive session today, recovering from steep losses last week, as a private-sector survey showed strong recovery in China's services activity in July, lifting investor sentiment. China's blue-chip CSI300 Index was up 0.3% by the lunch break, while the Shanghai Composite Index gained 0.5%. Hong Kong benchmark Hang Seng also advanced 0.3% The S&P Global China general services PMI rose to 52.6 in July from 50.6 in the prior month, marking the fastest expansion since May 2024, fuelled by stronger demand and a rise in new export orders. The S&P PMI is considered a better read of trends among smaller, export-oriented firms, particularly along the east coast. The data suggests service sector activity picked up pace in July, Goldman Sachs analysts said in a note, but the significant divergence between the official services PMI (which was down in July) and the S&P one implies 'substantial variation across services sub-industries,' they added. Gains in Chinese stocks also tracked overnight Wall Street rally, fuelled by growing bets on US interest rate cuts. Still, analysts expect some consolidation of gains in the next few weeks given the uncertainties on US-China tariff rates and persistent domestic tough business environment. Limited signs of further progress appeared in recent tariff negotiations between the two countries have driven weaker positioning in China and Hong Kong stocks, Citi analysts said in a note. 'Some Hong Kong-listed firms have reported disappointing earnings, in contrast to the strong results from US companies, particularly in the tech sector, which could lead to market consolidation,' said Dickie Wong, Kingston Securities executive director. By sector, biotech firms jumped 2% to lead gains in Hong Kong. In mainland A-shares, Anime comic and game shares and bank stocks outperformed, up 1% each. Hong Kong-listed shares of electric car maker Nio slumped 6.8% by midday as July delivery falls month-on-month.
Yahoo
28-07-2025
- Automotive
- Yahoo
Global Stocks Mostly Rise as US Agrees to Trade Deal With EU
Global stocks are largely rising Monday, a day after the European Union reached a trade deal with President Donald Trump and calmed investor concerns of an escalating trade war. According to the EU, the 15% baseline tariff "applies across most sectors, including cars, semiconductors and pharmaceuticals." The deal came just days after the U.S. struck a similar agreement with Japan for 15% baseline tariffs on imports including automobiles, for which Trump had imposed a 25% levy on all foreign-made vehicles and parts in early April. The Stoxx Europe 600 index is about 0.7% higher. Hong Kong's Hang Seng, where the biggest Chinese companies are listed, closed up 0.7% following a report in The South China Morning Post that the U.S. and China are set to extend their tariff truce by another three months. However, Japan's Nikkei ended down 1.1%. Meanwhile, U.S. stock futures are gaining, with those associated with the Nasdaq and S&P 500 up 0.4% and 0.2%, respectively, after the indexes ended last week at fresh all-time closing highs. Futures associated with the Dow Jones Industrial Average are 0.1% higher as the index hovers near its all-time high set last December. Read the original article on Investopedia Error 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
Bloomberg
16-07-2025
- Business
- Bloomberg
Hang Seng Index Heads for Highest Close Since Feb 2022
Hong Kong's equity benchmark is heading for its highest close since February 2022, reflecting a rebound in risk appetite on signs of easing US-China trade tensions. The Hang Seng Index advanced as much as 1.1% on Wednesday, extending gains for a fifth day. Alibaba Group Holding Ltd. and Tencent Holdings Ltd. were among the top performers on the gauge. Another closely watched gauge, Hang Seng China Enterprises Index, also jumped as much as 1.3%.
