Latest news with #HangSengTechIndex
RTHK
16 hours ago
- Business
- RTHK
Hong Kong stocks edge higher
Hong Kong stocks edge higher The Hang Seng Index gains 8 points or 0.03 percent on Wednesday. File photo: RTHK Asian equities generally edged higher on Wednesday as traders weighed US President Donald Trump's trade war and fresh data that indicated further weakness in the US economy but added to interest rate cut speculation. In Hong Kong, the Hang Seng Index increased 0.03 percent to close at 24,910. The Hang Seng China Enterprises Index fell 0.21 percent to end at 8,932, and the Hang Seng Tech Index went up 0.2 percent to end at 5,532. Mainland stocks also closed higher, with the benchmark Shanghai Composite Index up 0.45 percent to 3,633, its highest close in more than 3 1/2 years. The Shenzhen Component Index closed 0.64 percent higher at 11,177. (Agencies)
RTHK
2 days ago
- Business
- RTHK
HK stocks head north on rates hopes
HK stocks head north on rates hopes The Hang Seng Index finishes Tuesday's trading 169 points higher. File photo: RTHK Stock markets rose on Tuesday as investors grew increasingly confident the US Federal Reserve will cut interest rates next month, despite concerns about the world's largest economy and US President Donald Trump's tariffs. In Hong Kong, the Hang Seng Index gained 169 points or 0.68 percent to close at 24,902. The Hang Seng China Enterprises Index rose 0.65 percent to 8,951, and the Hang Seng Tech Index climbed 0.73 percent to 5,521. Mainland stocks also gained ground, with the benchmark Shanghai Composite Index up 0.96 percent to 3,617 and the Shenzhen Component Index finishing 0.59 percent higher at 11,106. However, while there is a broad expectation that the Fed will cut rates, some analysts remained sceptical. "I continue to believe the Fed will not reduce rates at all this year given rising inflation caused by tariffs and a relatively stable unemployment rate," Lazard chief market strategist Ronald Temple wrote. Traders were also keeping an eye on trade talks between Washington and dozens of its trade partners after Trump imposed tariffs of between 10 and 41 percent on them. (Agencies)
RTHK
2 days ago
- Business
- RTHK
HK stocks head north on rates hopes
HK stocks head north on rates hopes The Hang Seng Index finishes Tuesday's trading 169 points higher. File photo: RTHK Stock markets rose on Tuesday as investors grew increasingly confident the US Federal Reserve will cut interest rates next month, despite concerns about the world's largest economy and US President Donald Trump's tariffs. In Hong Kong, the Hang Seng Index gained 169 points or 0.68 percent to close at 24,902. The Hang Seng China Enterprises Index rose 0.65 percent to 8,951, and the Hang Seng Tech Index climbed 0.73 percent to 5,521. Mainland stocks also gained ground, with the benchmark Shanghai Composite Index up 0.96 percent to 3,617 and the Shenzhen Component Index finishing 0.59 percent higher at 11,106. However, while there is a broad expectation that the Fed will cut rates, some analysts remained sceptical. "I continue to believe the Fed will not reduce rates at all this year given rising inflation caused by tariffs and a relatively stable unemployment rate," Lazard chief market strategist Ronald Temple wrote. Traders were also keeping an eye on trade talks between Washington and dozens of its trade partners after Trump imposed tariffs of between 10 and 41 percent on them. (Agencies)
Forbes
3 days ago
- Business
- Forbes
China Market Update: Growth Stocks Lead Hong Kong & Mainland China Higher
Asian equities were largely higher overnight, led by Vietnam, Singapore, and the Hang Seng Tech Index, while Japan underperformed. The Asia Dollar Index gained versus the US dollar, as CNY appreciated following last week's weakness on Trump tariff concerns. The Hang Seng Index snapped a four-day losing streak as local investors recognized the importance of the National Development and Reform Commission's (NDRC) anti-involution announcement aimed at Alibaba, and Meituan for their instant commerce price war on Friday. Alibaba's Hong Kong share class appreciated 1.04% on Friday, while its US listing fell -2.95%! This was similar to the price action in which fell -0.16% in Hong Kong on Friday, while its US listing fell -1.84%. Growth stocks and subsectors led Hong Kong higher, including Tencent, which gained +2.80%, Xiaomi, which gained +2.15%, Kuaishou, which gained +3.22%. Meanwhile, reports that the Chinese government wants assurances from Nvidia that there is no 'backdoor' on its H20 chips, leading Semiconductor Manufacturing International (SMIC) to gain +2.90% and Hua Hong Semiconductor to gain +8.69%. Alibaba was off -0.6%, though the ADR is rebounding, as it was at a -1.73% discount to the Hong Kong share class this morning. In addition to semiconductors, metal and mining stocks followed gold prices higher, while online entertainment continues to outperform, led by Kuaishou, Tencent Music Entertainment, which gained +8.70%, and Bilibili, which gained +1.45%. Baidu gained +0.7%, though, after the close, it announced a Robotaxi partnership with Lyft in Europe, with services in Germany and the UK slated to launch in 2026. It was a solid day in Hong Kong overall, as 81% of the Hang Seng Index constituents are above their 200-day moving averages, as the market took a healthy breather last week. Let's see if the pullback turns previous resistance into support. Southbound Stock Connect saw very large sells in the Hong Kong Tracker and Hang Seng China Enterprise ETFs, with $2.30 billion worth of outflow today, though Alibaba had a strong day of net buying. Mainland investors had bought a very healthy, abnormally large $10.56 billion worth of Hong Kong-listed stocks and ETFs from July 24th to last Friday. Oil & gas names were mostly lower in both Hong Kong and Mainland China. Mainland investors' appetite for stocks is increasing as evidenced by July's new brokerage account openings, which increased 71% year-over-year (YoY) to 1.96 million, though the month-to-month data can be volatile based on market performance. As in Hong Kong, growth stocks outperformed in Mainland trading, as the Shenzhen gained +0.78% and the STAR Board gained +1.22%, versus Shanghai, which gained +0.66%. There was some chatter of the National Team buying ETFs, though favored ETFs did not have above-average volume. Over the weekend, the China Passenger Car Association (CPCA) announced July new energy vehicle (NEV), which includes EVs and hybrids, sales of 1.18 million, which is up +25% YoY, though down -4% from July. BYD led auto makers, with 341,030 units sold in July, followed by Geely's 130,124 units, Changan's 76,765 units, and Tesla's 67,886 units, according to CnEVPost. Year-to-date (YTD) NEV sales are up +35% to 7.6 million YoY. Sounds good to me! Live Webinar Join us on Wednesday, August 6th, at 11 am EDT for: Private AI Unicorn Access: How Our AI ETF Opens Doors to xAI and Anthropic Please click here to register New Content Read our latest article: KraneShares KOID ETF: Humanoid Robot Rings Nasdaq Opening Bell Please click here to read
RTHK
3 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)
