Latest news with #HangSengTech
RTHK
3 days ago
- Business
- RTHK
HK stocks end day up in relief at US tariffs ruling
HK stocks end day up in relief at US tariffs ruling The Hang Seng Index closed trading for the day up 315.07 points, or 1.35 percent, at 23,573.38 on news of the US court's move to block the Trump tariffs. File photo: RTHK Mainland Chinese and Hong Kong stocks ended for the day on the front foot on Thursday as sentiment improved after a US trade court blocked President Donald Trump's sweeping tariffs, which had weighed on global trade and roiled financial markets. Key Chinese stock indexes snapped a five-day losing streak, while the US dollar rallied and gold sank, as risk appetite sharply improved following the court decision. In Hong Kong, the benchmark Hang Seng Index was up 315.07 points, or 1.35 percent, at 23,573.38, while the Hang Seng China Enterprises index rose 1.37 percent to 8,559.71 and the Hang Seng Tech index jumped 2.46 percent at 5,301.92. The gains across a broad swathe of markets came after a US trade court blocked Trump's tariffs from going into effect in a sweeping ruling that found he overstepped his authority by imposing across-the-board duties on imports from US trading partners. The benchmark Shanghai Composite index closed up 0.7 percent at 3,363.45, while the blue-chip CHI 300 was up 0.59 percent at 3,858.70. Both indexes booked their first daily gain since May 21. The smaller Shenzhen index ended up 1.4 percent and the start-up board Chi Next Composite index was higher by 1.368 percent. However, gains in Chinese shares were capped as uncertainty around bilateral relations between Washington and Beijing lingered, traders and analysts said. "The ruling gives an interim boost to risk sentiment which saw US equity futures, bond yields and the dollar higher," said Frances Cheng, head of FX and rates strategy at OCBC Bank. "Development on tariff and trade relations remains fluid. Investors may be reluctant to load heavy positions on either side of the trade." "We don't believe that the latest ruling reduces any uncertainty related to tariff developments," said David Chaos, global market strategist for Asia Pacific at Investcorp. "It's possible that we could see Trump escalate trade tensions further in response to the court's ruling against him." The US has ordered companies that offer software used to design semiconductors to stop selling to China without first getting an export license, sources said. However, Beijing-based Empyrean Technology, considered to be China's primary alternative to US giants like Cadence, Synopses, and Siemens in the electronic design automation market, jumped 14.7 percent. A sub-index tracking Chinese semiconductor and equipment companies ended 2.1 percent higher. In Tokyo, Japan's Nikkei ended trade at the highest point in more than two weeks on news of the US ruling, while a weaker yen and a rally in chip-related stocks also supported the benchmark index. The Nikkei climbed 1.88 percent to 38,432.98, its highest close since May 13. The broader Topix rose 1.53 percent to 2,812.02. (Reuters/Xinhua)
Bloomberg
13-05-2025
- Business
- Bloomberg
JD.com's Low Profitability in Focus as Traders Brace for Results
By Investors are prepared for a big jolt in battered shares of Inc. following an earnings report from the Chinese e-commerce company, which is mounting a costly foray into food delivery. Options traders are pricing in a 6.9% move in the Hong Kong-listed stock in either direction after the results due later Tuesday, versus an average 4.2% move following the last eight quarterly reports. Its shares are down 22% from a March high, underperforming all but two members of the Hang Seng Tech Index.
Business Recorder
30-04-2025
- Business
- Business Recorder
China stocks inch lower, Hong Kong up slightly
HONG KONG: China stocks fell slightly on Tuesday, while Hong Kong shares edged up as investors refrained from making big bets until there is more clarity on US tariff plans and their impact on the Chinese economy. At the close, the Shanghai Composite index was down 0.05% at 3,286.65, marking its third consecutive session of blue-chip CSI300 index declined 0.17%, with its financial sector sub-index lower by 0.39%. The consumer staples sector was down 0.51%, the real estate index was flat and the healthcare sub-index was up 0.34%. In Hong Kong, the Hang Seng Index went up 0.16%. Tech shares led the gains in Hong Kong, with Hang Seng Tech up 0.6%. Investors' nerves remained tense amid the ongoing tariff battle between the world's two largest economies. China's factory activity likely contracted in April, a Reuters poll showed on Tuesday, due to the challenges from tariffs. US Treasury Secretary Scott Bessent said in an interview on Monday that it was up to China to de-escalate on tariffs - the latest in a slew of conflicting signals over progress on trade talks. Meanwhile, China is holding off on fresh stimulus measures as it tries to maintain composure, betting on Washington blinking first in a protracted trade war. 'For better or worse, the increasing likelihood of economic decoupling has made Chinese markets relatively resilient to the global market selloff compared to other indices,' said Nicholas Yeo, head of China equities at Aberdeen Investments. The resilience is supported by light positioning, low valuation and continued government support, Yeo said, but added that further stimulus measures are needed for China market's re-rating.
Time of India
29-04-2025
- Business
- Time of India
China stocks inch lower, Hong Kong up slightly as investors assess tariff impact
China stocks fell slightly on Tuesday, while Hong Kong shares edged up as investors refrained from making big bets until there is more clarity on U.S. tariff plans and their impact on the Chinese economy. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads China stocks fell slightly on Tuesday, while Hong Kong shares edged up as investors refrained from making big bets until there is more clarity on U.S. tariff plans and their impact on the Chinese economy.** At the close, the Shanghai Composite index was down 0.05% at 3,286.65, marking its third consecutive session of decline.** The blue-chip CSI300 index declined 0.17%, with its financial sector sub-index lower by 0.39%. The consumer staples sector was down 0.51%, the real estate index was flat and the healthcare sub-index was up 0.34%.** In Hong Kong, the Hang Seng Index went up 0.16%.** Tech shares led the gains in Hong Kong, with Hang Seng Tech up 0.6%.** Investors' nerves remained tense amid the ongoing tariff battle between the world's two largest economies.** China's factory activity likely contracted in April, a Reuters poll showed on Tuesday, due to the challenges from tariffs.** U.S. Treasury Secretary Scott Bessent said in an interview on Monday that it was up to China to de-escalate on tariffs - the latest in a slew of conflicting signals over progress on trade talks.** Meanwhile, China is holding off on fresh stimulus measures as it tries to maintain composure, betting on Washington blinking first in a protracted trade war.** "For better or worse, the increasing likelihood of economic decoupling has made Chinese markets relatively resilient to the global market selloff compared to other indices," said Nicholas Yeo, head of China equities at Aberdeen Investments.** The resilience is supported by light positioning, low valuation and continued government support, Yeo said, but added that further stimulus measures are needed for China market's re-rating.** Analysts said turnover is also reduced due to the holiday season. Mainland China market will be closed from May 1 for a five-day Labour Day holiday.
Mint
29-04-2025
- Business
- Mint
China stocks inch lower, Hong Kong gains slightly as investors assess tariff impact
HONG KONG, - China stocks fell slightly in choppy trading on Tuesday, while Hong Kong shares edged up as investors refrained from making big bets until there is more clarity on U.S. tariff plans and their impact on the Chinese economy. ** At the midday break, the Shanghai Composite index was down 0.03% at 3,287.45. ** China's blue-chip CSI300 index was down 0.13%, with its financial sector sub-index falling 0.27%, the consumer staples sector slipping 0.53%, the real estate index up 0.18% and the healthcare sub-index rising 0.12%. ** In Hong Kong, both the Hang Seng Index and the Hang Seng China Enterprises Index rose 0.12%. ** Tech shares led the gains in Hong Kong, with Hang Seng Tech up 0.8%. ** Investors' nerves remain tense amid the ongoing tariff battle between the world's two largest economies. ** U.S. Treasury Secretary Scott Bessent said in an interview on Monday that it was up to China to de-escalate on tariffs - the latest in a slew of conflicting signals over progress on trade talks. ** Meanwhile, China is holding off on fresh stimulus measures as it tries to maintain composure, betting on Washington blinking first in a protracted trade war. ** "For better or worse, the increasing likelihood of economic decoupling has made Chinese markets relatively resilient to the global market selloff compared to other indices," said Nicholas Yeo, head of China equities at Aberdeen Investments. ** The resilience is supported by light positioning, low valuation and continued government support, Yeo said, but added that further stimulus measures are needed for China market's re-rating. ** Analysts said turnover is also reduced due to the holiday season. Mainland China market will be closed from May 1 for a five-day Labour Day holiday. This article was generated from an automated news agency feed without modifications to text. First Published: 29 Apr 2025, 10:44 AM IST
