Latest news with #HongKong-China
Hans India
2 days ago
- Sport
- Hans India
India not looking to rest on past laurels against Hong Kong, says Sandesh Jhingan
Kowloon (HK-China): As the Asian Cup qualifier against Hong Kong, China, gets closer, many on the Indian side of the continental football spectrum will be recalling the last match played between the two sides – a roaring 4-0 victory for the Blue Tigers in Kolkata, three years ago. For the Indian senior men's national team, however, that is ancient history. While the last meeting between India and Hong Kong-China was a resounding win for the former, things have changed since then. 'In football, you can never rest on the laurels of the past. I remember we played them (in 2022) and we won 4-0, but that's a thing of the past now,' said Jhingan, about the much-changed Hong Kong side now. 'We know how good a side they are, and how important this game is, and that's that.' The Indian senior men's team, ahead of Matchday 2 of the AFC Asian Cup 2027 Qualifiers, held their first training session in Hong Kong on Friday evening at the Jockey Club HKFA Football Training Centre in Tseung Kwan O. The Blue Tigers will train at the Siu Sai Wan Sports Ground on Saturday and Sunday, followed by an official training session at the newly constructed Kai Tak Stadium on matchday minus one (Monday). The Asian Cup qualifier on June 10 will be the first competitive football match at the 50,000-capacity venue. Still looking to recapture their form, the Blue Tigers have kept their heads up and are focusing on what needs to be done to turn their fortunes around, after a 0-2 loss against Thailand in a preparatory international friendly last week. Sandesh Jhingan, who had captained the side against Thailand on June 4, is focused on getting the best result against Hong Kong. 'When we arrived (in Hong Kong) just after the Thailand game, the focus for the team was on recovery. However, the main focus since we assembled for the camp in Kolkata (on May 18), has always been to get the maximum points against Hong Kong,' said Jhingan. 'It's all about preparing ourselves in the training sessions leading up to the game, so we can arrive at the match in the best way possible, both physically and mentally, and try to get maximum points,' he added. While the loss against Thailand was a bitter pill to swallow for the Blue Tigers, it did afford them insight into the areas that need to be improved upon. 'We need to be more decisive and clinical inside the boxes at both ends. First and foremost, we need to be more solid at the back. If the defence is good, we will have more chances going forward. And the other part, of course, is that we need to be more clinical in attack. 'There were both positives and negatives from that game, and we will analyse and build on them," he added.
Zawya
18-02-2025
- Business
- Zawya
China's tech rally rests on 'hot money'
HONG KONG - China's apparent breakthrough in AI and rapprochement with tech giants has sent Hong Kong stocks and internet giants soaring, but the buyers behind it are flighty and brokers say global investors are wary of big bets while markets swing wildly. Hong Kong's Hang Seng has roared back from a run of lean years to vie with Germany's DAX as the world's best-performing market for the year so far, with gains of 13% and 13.1% respectively, against a 4% rise for the S&P500. Hong Kong tech shares have surged 31% since the middle of January to hit three-year highs on Monday, while President Xi Jinping sat down with top tech leaders in Beijing. Prices gyrating as investors scoured pictures and footage of the meeting for the faces of top bosses neatly underscored the fevered speculation and the degree of hope behind the rally. Trading also illustrated what has become an adage of investing in China in recent years, that the biggest prize goes to the earliest movers, especially if they can get out as soon as the euphoria begins to fade. "As with moves in the past two years or so in HK/China, it's very retail driven (and volatile) - a trading market," said Wong Kok Hoong, head of equity sales trading at Maybank. "Hedge funds or the more Hong Kong-China centric funds are well aware of the dangers of not rushing in from the onset." Data from brokers seems to show that is exactly who is buying. CICC estimates that cumulative southbound flows - that is, buying by mainland investors - have reached HK$26.6 billion ($3.4 billion) since the Lunar New Year holiday in early February, on par with a record-breaking rush in September. A Morgan Stanley note on hedge fund positioning showed net exposures near their highest in a year, with buyers mostly in Asia and taking long positions, rather than covering short bets. "Hot money is driving the market for the past two weeks," said Steven Leung, who handles institutional clients at brokerage UOB KayHian in Hong Kong, referring to funds controlled by investors seeking short-term returns. EARLY BELIEVERS The rally's triggers include the sudden popularity of Chinese AI startup DeepSeek, which has developed an AI model far cheaper than U.S. rivals, relief that China has not been hit with big U.S. sanctions, and the sight of Xi meeting with tech leaders. Shares in Alibaba have headlined the rally on news of an AI partnership with Apple along with the appearance of founder Jack Ma, who has kept a low profile over years of crackdowns on China's tech giants, at this week's symposium with Xi Jinping. The stock touched a three-year high on Monday and is up nearly 50% for the year so far. The volume of Alibaba shares traded in Hong Kong last week was the largest since listing in late 2019 and weekly volume for its U.S.-listed ADR was the highest for two years. "(Jack Ma's) presence would be hugely symbolic of how the government's stance towards the tech sector has changed," said Christopher Beddor, deputy China research director at Gavekal Dragonomics in Hong Kong. "If there's one person associated with the tech crackdown, it's Jack more or less a total reversal of the policy stance from a few years ago, when officials vowed to curb the 'disorderly' expansion of capital." To be sure, Morgan Stanley said in a note last week that global investors were starting to reassess China's investability, after a long period of limited attention, though it added that as of late January they had been underweight. On Monday, Goldman Sachs analysts raised forecasts for the MSCI China index to 85 from 75 and there are investors who see a sustainable rally. Still, for many the lesson from disappointments after rallies on China's post-COVID reopening and pledges of stimulus in September has been to move fast and think short-term. Maybank's Wong said that amongst themselves, retail investors in China say: "The early believers get to eat the chicken; the subsequent ones get to drink the chicken soup; and the late true believers will have to take over the empty plates." ($1 = 7.7807 Hong Kong dollars)
Yahoo
17-02-2025
- Business
- Yahoo
Analysis-China's tech rally rests on 'hot money'
By Summer Zhen and Jiaxing Li HONG KONG (Reuters) - China's apparent breakthrough in AI and rapprochement with tech giants has sent Hong Kong stocks and internet giants soaring, but the buyers behind it are flighty and brokers say global investors are wary of big bets while markets swing wildly. Hong Kong's Hang Seng has roared back from a run of lean years to vie with Germany's DAX as the world's best-performing market for the year so far, with gains of 13% and 13.1% respectively, against a 4% rise for the S&P500. Hong Kong tech shares have surged 31% since the middle of January to hit three-year highs on Monday, while President Xi Jinping sat down with top tech leaders in Beijing. Prices gyrating as investors scoured pictures and footage of the meeting for the faces of top bosses neatly underscored the fevered speculation and the degree of hope behind the rally. Trading also illustrated what has become an adage of investing in China in recent years, that the biggest prize goes to the earliest movers, especially if they can get out as soon as the euphoria begins to fade. "As with moves in the past two years or so in HK/China, it's very retail driven (and volatile) - a trading market," said Wong Kok Hoong, head of equity sales trading at Maybank. "Hedge funds or the more Hong Kong-China centric funds are well aware of the dangers of not rushing in from the onset." Data from brokers seems to show that is exactly who is buying. CICC estimates that cumulative southbound flows - that is, buying by mainland investors - have reached HK$26.6 billion ($3.4 billion) since the Lunar New Year holiday in early February, on par with a record-breaking rush in September. A Morgan Stanley note on hedge fund positioning showed net exposures near their highest in a year, with buyers mostly in Asia and taking long positions, rather than covering short bets. "Hot money is driving the market for the past two weeks," said Steven Leung, who handles institutional clients at brokerage UOB KayHian in Hong Kong, referring to funds controlled by investors seeking short-term returns. EARLY BELIEVERS The rally's triggers include the sudden popularity of Chinese AI startup DeepSeek, which has developed an AI model far cheaper than U.S. rivals, relief that China has not been hit with big U.S. sanctions, and the sight of Xi meeting with tech leaders. Shares in Alibaba have headlined the rally on news of an AI partnership with Apple along with the appearance of founder Jack Ma, who has kept a low profile over years of crackdowns on China's tech giants, at this week's symposium with Xi Jinping. The stock touched a three-year high on Monday and is up nearly 50% for the year so far. The volume of Alibaba shares traded in Hong Kong last week was the largest since listing in late 2019 and weekly volume for its U.S.-listed ADR was the highest for two years. "(Jack Ma's) presence would be hugely symbolic of how the government's stance towards the tech sector has changed," said Christopher Beddor, deputy China research director at Gavekal Dragonomics in Hong Kong. "If there's one person associated with the tech crackdown, it's Jack more or less a total reversal of the policy stance from a few years ago, when officials vowed to curb the 'disorderly' expansion of capital." To be sure, Morgan Stanley said in a note last week that global investors were starting to reassess China's investability, after a long period of limited attention, though it added that as of late January they had been underweight. On Monday, Goldman Sachs analysts raised forecasts for the MSCI China index to 85 from 75 and there are investors who see a sustainable rally. Still, for many the lesson from disappointments after rallies on China's post-COVID reopening and pledges of stimulus in September has been to move fast and think short-term. Maybank's Wong said that amongst themselves, retail investors in China say: "The early believers get to eat the chicken; the subsequent ones get to drink the chicken soup; and the late true believers will have to take over the empty plates." ($1 = 7.7807 Hong Kong dollars) Sign in to access your portfolio
Reuters
17-02-2025
- Business
- Reuters
China's tech rally rests on 'hot money'
HONG KONG, Feb 17 (Reuters) - China's apparent breakthrough in AI and rapprochement with tech giants has sent Hong Kong stocks and internet giants soaring, but the buyers behind it are flighty and brokers say global investors are wary of big bets while markets swing wildly. Hong Kong's Hang Seng (.HSI), opens new tab has roared back from a run of lean years to vie with Germany's DAX (.DAX), opens new tab as the world's best-performing market for the year so far, with gains of 13% and 13.1% respectively, against a 4% rise for the S&P500 (.SPX), opens new tab. Hong Kong tech shares (.HSTECH), opens new tab have surged 31% since the middle of January to hit three-year highs on Monday, while President Xi Jinping sat down with top tech leaders in Beijing. Prices gyrating as investors scoured pictures and footage of the meeting for the faces of top bosses neatly underscored the fevered speculation and the degree of hope behind the rally. Trading also illustrated what has become an adage of investing in China in recent years, that the biggest prize goes to the earliest movers, especially if they can get out as soon as the euphoria begins to fade. "As with moves in the past two years or so in HK/China, it's very retail driven (and volatile) - a trading market," said Wong Kok Hoong, head of equity sales trading at Maybank. "Hedge funds or the more Hong Kong-China centric funds are well aware of the dangers of not rushing in from the onset." Data from brokers seems to show that is exactly who is buying. CICC estimates that cumulative southbound flows - that is, buying by mainland investors - have reached HK$26.6 billion ($3.4 billion) since the Lunar New Year holiday in early February, on par with a record-breaking rush in September. A Morgan Stanley note on hedge fund positioning showed net exposures near their highest in a year, with buyers mostly in Asia and taking long positions, rather than covering short bets. "Hot money is driving the market for the past two weeks," said Steven Leung, who handles institutional clients at brokerage UOB KayHian in Hong Kong, referring to funds controlled by investors seeking short-term returns. EARLY BELIEVERS The rally's triggers include the sudden popularity of Chinese AI startup DeepSeek, which has developed an AI model far cheaper than U.S. rivals, relief that China has not been hit with big U.S. sanctions, and the sight of Xi meeting with tech leaders. Shares in Alibaba ( opens new tab have headlined the rally on news of an AI partnership with Apple (AAPL.O), opens new tab along with the appearance of founder Jack Ma, who has kept a low profile over years of crackdowns on China's tech giants, at this week's symposium with Xi Jinping. The stock touched a three-year high on Monday and is up nearly 50% for the year so far. The volume of Alibaba shares traded in Hong Kong last week was the largest since listing in late 2019 and weekly volume for its U.S.-listed ADR was the highest for two years. "(Jack Ma's) presence would be hugely symbolic of how the government's stance towards the tech sector has changed," said Christopher Beddor, deputy China research director at Gavekal Dragonomics in Hong Kong. "If there's one person associated with the tech crackdown, it's Jack more or less a total reversal of the policy stance from a few years ago, when officials vowed to curb the 'disorderly' expansion of capital." To be sure, Morgan Stanley said in a note last week that global investors were starting to reassess China's investability, after a long period of limited attention, though it added that as of late January they had been underweight. On Monday, Goldman Sachs analysts raised forecasts for the MSCI China index (.dMICN00000PUS), opens new tab to 85 from 75 and there are investors who see a sustainable rally. Still, for many the lesson from disappointments after rallies on China's post-COVID reopening and pledges of stimulus in September has been to move fast and think short-term. Maybank's Wong said that amongst themselves, retail investors in China say: "The early believers get to eat the chicken; the subsequent ones get to drink the chicken soup; and the late true believers will have to take over the empty plates." ($1 = 7.7807 Hong Kong dollars)
