Latest news with #HongKongStocks
Bloomberg
23-05-2025
- Business
- Bloomberg
Chinese Firms' Stellar HK Debuts Spur Hopes of Valuation Shift
The robust performance of two major Hong Kong stock listings this week has raised hopes that a small group of elite Chinese companies may start driving a shift to end the city's historical discount to mainland markets. The latest addition to the cohort is Jiangsu Hengrui Pharmaceuticals Co., China's largest drugmaker by market value, which surged as much as 37% in its trading debut Friday in the Asian financial hub after raising HK$9.9 billion ($1.3 billion). The company's H-shares briefly commanded a 0.3% premium over its Shanghai-listed A-shares, before reverting to a discount of 4%.
South China Morning Post
14-05-2025
- Business
- South China Morning Post
Hong Kong stocks jump on strong JD.com results, with Tencent, Alibaba on deck
Hong Kong stocks rose as reported the fastest earnings growth in three years while investors are gearing up for results from bellwethers such as Tencent Holdings and Alibaba Group Holding. The Hang Seng Index climbed 1.4 per cent to 23,425.51 as of 10.05am local time. The Hang Seng Tech Index gained 2 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index were both little changed. E-commerce giant advanced 3.7 per cent to HK$142 after posting a 16 per cent year-on-year increase in sales in the first quarter. Tencent gained 2 per cent to HK$516 before its earnings release later on Wednesday. Alibaba, which is due to report results on Thursday, added 1 per cent to HK$127.40. Sentiment also got a lift after US stocks recovered their losses for the year on news that inflation cooled in April and amid optimism that a reduction in trade tensions will improve the growth outlook. Other major Asian markets were mixed. Japan's Nikkei 225 slipped 0.6 per cent, Australia's S&P/ASX 200 lost 0.1 per cent and South Korea's Kospi rose 0.7 per cent.
Forbes
12-05-2025
- Business
- Forbes
China Market Update: Substantial Progress, Tariffs Reduced To 10% For 90 Days
CLN Asian equities cheered the initial positive comments concerning the US-China trade meeting over the weekend and the India-Pakistan truce, as the Renminbi appreciated nearly +0.5% versus the US dollar. Indonesia, Thailand, and Singapore were closed for Vesak Day, celebrating the birth, Enlightenment, and death of the Buddha. After Japan, South Korea, Taiwan and Mainland China's Shanghai and Shenzhen markets closed today, Hong Kong stocks went vertical once the 3 pm local time press conference from Treasury Secretary Bessent and US Trade Representative Greer revealed the larger than expected 90-day drop in US tariffs on Chinese goods from 145% to 10%, though it appears a 20% additional levy could remain pending progress on curbing fentanyl precursor imports, and China's tariffs on US goods from 125% to 10%. Bessent said that 'substantial progress' had been made, though Vice Premier He Lifeng, China's Minister of Commerce, did not elaborate beyond the joint statement. With Treasury Secretary Bessent's comments on supply chain independence in 'strategic industries,' we can assume that this includes steel, aluminum, semiconductors, and pharmaceuticals. The Hang Seng, Hang Seng Tech, Shanghai, and Shenzhen indexes all closed above, i.e. 'filled the gap', from their pre-Liberation Day levels. Hong Kong-listed Healthcare stocks constituted the only negative sector, after President Trump's Executive Order on lowering drug costs. Wuxi AppTec, with its US facilities, was a rare healthcare gainer. All things growth, consumer, and capital markets were on fire, including electric vehicles, hybrids, E-Commerce, household appliances, semiconductors, brokerages, and beverages were all higher. Hong Kong-listed growth stocks ripped higher on volume that increased +99% from Friday to 172% of the 1-year average, led by the most heavily traded stocks by value Alibaba, which gained +6.15%, Tencent, which gained +4.63%, Xiaomi, which fell -1.46%, Meituan, which gained +2.48%, BYD, which gained +7.39%, and Hong Kong Exchanges, which gained +3.38%. Mainland investors sold a net -$2.38 billion worth of Hong Kong-listed stocks and ETFs today. Despite closing prior to the press conferences from Bessent, Greer, and the Ministry of Commerce. Mainland China had a good day, led by growth stocks, especially electronic equipment makers. Battery giant CATL gained +3.52% in advance of their Hong Kong relisting. reports tomorrow after the close in Hong Kong. China's delegation, led by Vice Premier He Lifeng, stated, 'The high-level talks between China and the United States were frank, in-depth and constructive, reached an important consensus and made substantial progress. Both sides agreed to establish a Sino-US economic and trade consultation mechanism. China and the United States will finalize the relevant details as soon as possible and will issue a joint statement reached in the talks on May 12.' Today's positive announcement is a small step toward better US-China political relations, while dampening the geopolitical headwind that has kept many US investors from owning Chinese equities. I suspect US ownership of Chinese equities is at or near all-time lows, though an improving relationship could bring investors off the sidelines. Congress's view of China is abysmal, which raises the positive knock-on effects of President Trump's effort, as numerous former Republican politicians failed to support his agenda. This won't happen overnight, obviously, but it is an underestimated detour in the re-rating of China's stocks. The Wall Street Journal had a worthwhile read titled 'How Tariffs Are Crushing Small Businesses: 'Nobody in Power Seems to Care''. The article provides examples of small businesses reliant on Chinese goods or inputs, while lacking lobbyist support in Washington, DC. I stumbled upon a Buzzfeed article titled 'Tariff Sticker Shock: Real Receipts From Americans' that looked at receipts from individuals and small businesses that show the additional tariff costs from Twitter and other social media. From Mother Day's flowers to business suits to MAGA hats, the tariffs on goods from numerous countries left readers shocked, based on their comments. New Content Read our latest article: New Drivers For China Healthcare: AI Med-Tech Innovation, Cancer Treatment, & Favorable Balance of Trade Please click here to read Chart1 Chart2 Chart3 Chart4 Chart5 Chart6
South China Morning Post
09-05-2025
- Business
- South China Morning Post
Hong Kong stocks waver ahead of US-China trade talks in Switzerland
Hong Kong stocks fluctuated between losses and gains for most of the morning session after US President Donald Trump said that the trade talks with China on the weekend could lead to 'substantive' tariff cuts. Advertisement The Hang Seng Index edged up 0.01 per cent to 22,777.88 at the noon break, having risen as much as 0.6 per cent before retreating 0.4 per cent. The Hang Seng Tech Index declined 1.6 per cent. On the mainland, the CSI 300 Index fell 0.2 per cent, while the Shanghai Composite Index eased 0.3 per cent. Chow Tai Fook Jewellery rose 3.8 per cent to HK$10.88 and Sun Hung Kai Properties was up 3 per cent to HK$78.65. Chipmaker Semiconductor Manufacturing International, which reported a 28 per cent year on year increase in revenue for the first quarter, fell 6.9 per cent to HK$42.05. State-owned developer China Resources Land fell 3 per cent to HK$25.50. Dickie Wong, executive director of research at Kingston Securities, said investors were resorting to profit-taking following the market's rally over the past few days. Investors were likely to take a wait-and-see approach over the next few days to see how the trade talks play out, he added. Chinese Vice-Premier He Lifeng will meet US Treasury Secretary Scott Bessent this weekend in Switzerland. Trump said on Thursday that he believed the negotiations would result in tangible progress. Advertisement 'I think it's going to be substantive,' Trump said, while announcing a framework trade agreement with the UK, the first such deal since he imposed sweeping tariffs on April 2 on all trading partners. The agreement, which is seen by many as limited, still maintains 10 per cent duties on UK exports.
South China Morning Post
09-05-2025
- Business
- South China Morning Post
Hong Kong stocks extend longest winning streak in over a year on hopes of tariff cuts
Hong Kong stocks rose for the seventh straight trading day on Friday, their longest winning streak in more than a year, after US President Donald Trump said that the trade talks with China on the weekend could lead to 'substantive' tariff cuts. Advertisement The Hang Seng Index edged up 0.4 per cent to 22,859.46 at 10am. The Hang Seng Tech Index was down about 0.8 per cent. On the mainland, the CSI 300 Index fell marginally, while the Shanghai Composite Index eased 0.1 per cent. Chow Tai Fook Jewellery rose 4 per cent to HK$23.55 and Geely Automobile gained 2.7 per cent to HK$18.00. Chipmaker Semiconductor Manufacturing International, which reported a 28 per cent year on year increase in revenue for the first quarter, fell 4.8 per cent to HK$43.00. Developer Longfor Group fell 1 per cent to HK$17.40. Chinese Vice-Premier He Lifeng will meet US Treasury Secretary Scott Bessent this weekend in Switzerland. Trump said on Thursday that he believed the negotiations would result in tangible progress. 'I think it's going to be substantive,' Trump said, while announcing a framework trade agreement with the UK, the first such deal since he imposed sweeping tariffs on April 2 on all trading partners. The agreement, which is seen by many as limited, still maintains 10 per cent duties on UK exports. Advertisement The Hang Seng Index's rally is the longest since April last year, when Beijing announced a series of measures to boost the city's financial market amid an exodus of foreign investments and a period of low capital market activity.
