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Business Recorder
a day ago
- Business
- Business Recorder
China stocks rise, HK lower as investors await trade talk details
HONG KONG: China stocks ended higher on Tuesday as a new round of Sino-U.S. trade talks continued, while the Hong Kong benchmark declined with some investors booking profits near the month-end. China's blue-chip CSI300 Index and the Shanghai Composite Index reversed morning session's losses, closing up 0.39% and 0.33%, respectively. Hong Kong benchmark Hang Seng dropped 0.34%, while Hang Seng Tech fell 0.35%. Market sentiment cooled slightly as investors awaited details from the ongoing U.S.-China trade talks that started on Monday in Stockholm. China faces an August 12 deadline to reach a durable tariff agreement; both China and U.S. are expected to push for an extension of the trade truce. 'A truce extension would calm markets… a confrontational tone or vague outcomes could reignite fears of renewed tariffs down the line, resulting in a risk-off sentiment,' Charu Chanana, Saxo chief investment strategist, said in a note on Tuesday. Hong Kong stocks struggled for direction in the past few sessions after the Hang Seng hit its highest level since November 2021 last week. China stocks pause rally as investors eye Politburo meeting 'Most likely, people are taking some money off the table before the Hang Seng Index futures that expire tomorrow (to book gains),' said Steven Leung, executive director at broker UOB Kay Hian. Healthcare extended their rally to lead gains, with Hong Kong-listed healthcare stocks jumping 3.8%, biotech companies listed in mainland A-shares advancing 3%. China's announced measures to boost birthrate through an annual childcare subsidy of 3,600 yuan (about $500) until age three, but markets reacted relatively mutely. Infant formula maker Beingmate and China Feihe rose 3.5% and 0.4% respectively, while Jinxin Fertility went down 4%. 'As the subsidy is relatively small, we don't think the birth rate will significantly increase in coming years,' Ting Lu, Nomura chief China economist, said in a note. Smaller Shenzhen index ended up 0.46% and the start-up board ChiNext Composite index was higher by 1.862%.
Business Recorder
2 days ago
- Business
- Business Recorder
China and HK stocks lower as investors book profits after strong rally
HONG KONG: China and Hong Kong stocks declined on Tuesday as investors locked in profits ahead of the end of the month, after benchmarks hit multi-year highs. China's blue-chip CSI300 Index and the Shanghai Composite Index edged down 0.05% and 0.08%, respectively, by the lunch break. Hong Kong benchmark Hang Seng dropped 0.95%, while Hang Seng Tech lost 1.76%. The retreat comes after the Shanghai Composite peaked to a 3-1/2-year high on Monday. The Hang Seng also hit its highest since November 2021 last week. 'Most likely, people are taking some money off the table before the Hang Seng Index futures that expire tomorrow (to book gains),' said Steven Leung, executive director at broker UOB Kay Hian. China's announced measures to boost birthrate through an annual childcare subsidy of 3,600 yuan (about $500) until age three. That failed to boost market sentiment. Infant formula maker Beingmate jumped 6% in Shenzhen, but China Feihe dipped 0.6% in Hong Kong. Hong Kong-listed Jinxin Fertility was also down 1.2% China stocks pause rally as investors eye Politburo meeting 'As the subsidy is relatively small, we don't think the birth rate will significantly increase in coming years,' Ting Lu, chief China economist at Nomura, said in a note on Monday night. Meanwhile, healthcare and biotech stocks extended their rally, up more than 2% both in Hong Kong and mainland A-shares, to lead gains. Investors are also awaiting the outcome of a new round of trade talks between top U.S. and Chinese economic officials, which began in Stockholm on Monday. The smaller Shenzhen index was down 0.2%, the start-up board ChiNext Composite index was higher by 0.92% and Shanghai's tech-focused STAR50 index was up 0.83%?. Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.69% while Japan's Nikkei index was down 0.87%.
RTHK
29-05-2025
- 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.
