Latest news with #HangSengIndex
RTHK
3 hours ago
- Business
- RTHK
HK stocks end week down as tariff deadline looms
HK stocks end week down as tariff deadline looms The Hang Seng Index ended trading for Friday down 222 points, or 0.89 percent, at 24,858. File photo: RTHK Mainland stocks closed slightly down on Friday, but ended the week near their highest level in 10 months, as upbeat economic data lifted sentiment and investors largely looked past US tariff concerns, while Hong Kong shares declined. The benchmark Hang Seng Index ended trading for the day down 222 points, or 0.89 percent, at 24,858 but is up 1.2 percent for the week. The Hang Seng China Enterprises Index fell 0.96 percent to 8,895 while the Hang Seng Tech Index fell 1.56 percent to 5,460. Tech majors were down 1.6 percent while materials shares were up 2.5 percent. Shares of semiconductors dropped nearly two percent, weighed by an eight percent fall in China's largest chipmaker SMIC after it reported weaker-than-expected second-quarter earnings. On the mainland, the benchmark Shanghai Composite Index ended down 0.12 percent at 3,635 while the Shenzhen Component Index was 0.26 percent lower at 11,128. Their combined turnover was 1.71 trillion yuan, down from 1.83 trillion yuan on Thursday. Shares related to the high-speed railway, mega-hydropower and electric power industries led gains while stocks related to the e-commerce and semiconductor sectors suffered major losses. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 0.38 percent to close at 2,333. China stocks have steadily climbed this week, supported by upbeat trade and service activity data. "The market may be underpricing the risk of near-term deterioration in the US-China relationship," said Morgan Stanley strategists led by Laura Wang. The strategists urged investors to monitor developments in trade tensions and flagged the upcoming National People' Congress Standing Committee meeting and second-quarter earnings season as potential catalysts for market direction. In the interim, they prefer mainland-listed A-shares over Hong Kong-listed H-shares, citing stronger relative performance during periods of global market volatility. China faces an August 12 deadline to reach a durable tariff agreement with the Trump administration. (Reuters/Xinhua)
The Star
4 hours ago
- Business
- The Star
Late buying interest pushes FBM KLCI to close at day's high
KUALA LUMPUR: Last-minute buying interest pushed the FBM KLCI to close at its intraday high on Friday, after a subdued session earlier in the day. The FBM KLCI ended 7.87 points higher or 0.51% at 1,556.98, its intraday high, after rebounding from a low of 1,546.41. For the week, the benchmark rose 1.54%. Broad market sentiment continued to be weak, with 541 losers outpacing 448 gainers and 494 counters which traded unchanged. Turnover was at 2.42 billion shares valued at RM2.22bil. PETRONAS Gas was the top gainer on Bursa Malaysia, rising 52 sen to RM18.68, followed by United Plantations, up 22 sen to RM21.78, Riverview Rubber Estates, up 20 sen to RM3.05, and Dutch Lady , up 20 sen to RM27.60. Among the decliners, Nestle fell RM2.30 to RM87.50, F&N dropped 70 sen to RM27.50, PPB Group slipped 18 sen to RM9.12, and BAT eased 16 sen to RM4.91. On the forex market, the ringgit eased 0.16% against the US dollar to 4.2430 and slipped 0.08% against the Singapore dollar to 3.3019. It weakened 0.7% against the pound sterling to 5.6980 but firmed 0.11% against the euro to 4.9386. Regional bourses finished mixed today. Among key regional markets: Japan's Nikkei 225 closed up 1.85% to 41,820.48; Hong Kong's Hang Seng Index fell 0.89% to 24,858.82; China's CSI300 Index declined 0.24% to 4,104.97; Taiwan's Taiex rose 0.07% to 24,021.26; South Korea's Kospi closed down 0.55% to 3,210.01 and; Singapore's Straits Times Index fell 0.43% to 4,239.83 points.
Mint
9 hours ago
- Business
- Mint
China stocks set to end week at 10-month high on strong data; HK lags
SHANGHAI, - China stocks climbed on Friday, on track to close the week at their highest level in 10 months, as upbeat economic data lifted sentiment and investors largely looked past U.S. tariff concerns. Hong Kong shares declined on the day. ** China's blue-chip CSI300 Index and the Shanghai Composite Index were up 1% each by the lunch break. Hong Kong benchmark Hang Seng slipped 0.7%. ** The Shanghai Composite Index rose to 3,642 points on Friday, its highest level since October 2024. ** China stocks have steadily climbed this week, supported by upbeat trade and service activity data. For the week, the CSI300 Index has gained 1.5% so far, while the Hang Seng Index rose 1.7%. ** "The market may be underpricing the risk of near-term deterioration in the U.S.-China relationship," said Morgan Stanley strategists led by Laura Wang. ** The strategists urged investors to monitor developments in trade tensions and flagged the upcoming NPC Standing Committee meeting and second-quarter earnings season as potential catalysts for market direction. In the interim, they expressed a preference for mainland-listed A-shares over their Hong Kong-listed H-share counterparts. ** U.S. President Donald Trump said on Wednesday that he could announce further tariffs on China, similar to the 25% duties announced earlier on India over its purchases of Russian oil, depending on the developments in the trade discussions. ** China is facing an August 12 deadline to reach a durable tariff agreement with Trump's administration. ** Tech majors traded in Hong Kong were down 1%, while materials shares were up nearly 2%. ** Shares of semiconductors dropped 1.4%, weighed down by a nearly 6% fall in China's largest chipmaker SMIC after it reported weaker-than-expected second-quarter earnings. This article was generated from an automated news agency feed without modifications to text.
RTHK
11 hours ago
- Business
- RTHK
HSI opens marginally lower
HSI opens marginally lower The mainland's two main indices also dropped at the open. File photo: RTHK The Hang Seng Index fell 113.32 points, or 0.45 percent, to open at 24,968 on Friday. On the mainland, the benchmark Shanghai Composite Index opened down 0.13 percent at 3,634, while the Shenzhen Component Index opened 0.19 percent lower at 11,136. (Xinhua)
New Straits Times
11 hours ago
- Business
- New Straits Times
Bursa opens nearly flat on lingering US tariff worries
KUALA LUMPUR: Bursa Malaysia opened nearly flat on Friday after a mixed overnight performance on Wall Street, as investors turned cautious over the impact of US President Donald Trump's tariffs. Tariffs of between 15 per cent and 50 per cent on major economies took effect on Thursday, even as negotiations with Washington continued. At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.28 of a point, or 0.02 per cent, to 1,549.39 from Thursday's close of 1,549.11. The benchmark had earlier opened 0.11 of a point lower at 1,549.00. Market breadth was slightly negative, with decliners outnumbering gainers 157 to 111. Another 255 counters were unchanged, 1,990 untraded and nine suspended. Turnover stood at 158.25 million shares worth RM69.68 million. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Wall Street's mixed close reflected investor caution over the potential impact of Trump's tariffs, which could be felt in the coming months. In the region, Hong Kong's Hang Seng Index extended its uptrend, supported by an unexpected improvement in China's July exports, which rose 7.2 per cent against market expectations of 5.6 per cent. "Additionally, while we believe there could be some foreign buying, we hope this time they will stay a tad longer. For today, we expect the FBM KLCI to trend between the 1,545 and 1,555 range," Thong told Bernama. Among the heavyweights, Maybank and Tenaga Nasional gained two sen each to RM9.65 and RM13.78 respectively, CIMB rose three sen to RM6.81, and Public Bank was flat at RM4.29. IHH Healthcare fell four sen to RM6.91. On the actively traded list, TWL was unchanged at 2.5 sen, Ekovest slipped one sen to 39.5 sen, and Genting lost four sen to RM2.96. NexG and Malayan United Industries added half a sen each to 53.5 sen and 6.5 sen respectively. On the broader market, the FBM Emas Index eased 0.39 of a point to 11,566.15, the FBM Emas Shariah Index shed 7.58 points to 11,598.58, and the FBMT 100 Index edged up 0.41 of a point to 11,341.07. The FBM 70 Index fell 6.69 points to 16,522.28, while the FBM ACE Index dropped 14.72 points to 4,616.16. By sector, the Financial Services Index advanced 20.22 points to 17,514.68, the Plantation Index gained 27.14 points to 7,375.88, the Energy Index rose 0.49 of a point to 735.17, while the Industrial Products and Services Index slipped 0.17 of a point to 157.85.
