Latest news with #JasonChan
Yahoo
12-05-2025
- Business
- Yahoo
Stocks, dollar up as investors wait for details on Sino-US trade talks
SINGAPORE (Reuters) -The United States and China ended high-stakes trade talks on a positive note on Sunday, with U.S. officials touting a "deal" to reduce the U.S. trade deficit while Chinese officials said the sides had reached "important consensus." Wall Street stock futures climbed and the dollar firmed against safe haven peers on Monday as investors waited for a joint statement expected to be released in Geneva later in the day. Vice Commerce Minister Li Chenggang said it would contain "good news for the world." QUOTES: CHARLES WANG, CHAIRMAN OF SHENZHEN DRAGON PACIFIC CAPITAL MANAGEMENT CO, SHENZHEN "The weekend talks are better than expected. Both sides are under strong incentives, and pressure, to push forward trade talks. The U.S. is facing supply chain pressure, while China faces challenges in GDP growth. Both sides need to sit down to strike a mutually acceptable deal. "But the game will be a long process. Both sides need to determine areas of concession and persistence." JASON CHAN, SENIOR INVESTMENT STRATEGIST, BANK OF EAST ASIA, HONG KONG "If the two sides announce or establish a mechanism for regular talks going forward, or some substantial tariff cuts, then other U.S. trade partners or countries trying to make deals will have a reference point or an indicator. How the U.S.-China talks went shows what's the bottomline for both sides. "I think the talks should be quite positive and, if even China can make a deal, then other Asian countries like Japan, India, and Southeast Asian countries could follow and progress their own trade talks."
Yahoo
07-05-2025
- Business
- Yahoo
Chinese Stock Gains Fizzle as Focus Shifts to US Trade Talks
(Bloomberg) -- For all the excitement at the start of the day, investors in Chinese stocks ended Wednesday's session on a rather disappointing note. Most Read from Bloomberg Markets opened gap up, helped by news that Chinese and US officials are meeting to discuss trade later this week after a monthlong standoff. The central bank bolstered the mood, reducing its policy rate and lowering the amount of cash lenders must keep in reserve. But it seemed investors used those gains to take some money off the table with no certainty that the trade talks will go smoothly. In the end, the Hang Seng China Enterprises Index closed down 0.2% after rising as much as 2.4% in the morning. The CSI 300 Index, a benchmark for onshore shares, more than halved its advance to 0.6%. 'Investors are probably taking some profits,' said Jason Chan, a senior investment strategist at Bank of East Asia. 'The market is now turning to see the progress in trade talks. Investors may be more cautious that both sides may not be able to make a deal in the near term.' Onshore Chinese stocks and bonds have been notably stable in recent weeks, relative to turbulent global markets. Volatility in the CSI 300 Index fell to a record low last month. Still, the country's shares have underperformed some of their Asian peers, which have staged a sharp rebound since President Donald Trump's April 2 tariff onslaught, on concern over the impact of the trade war. The PBOC cut the seven-day reverse repurchase rate to 1.4% from 1.5%, according to Governor Pan Gongsheng. The central bank will also trim the reserve requirement ratio by half a percentage point, Pan said. China Securities Regulatory Commission's chief Wu Qing said the government will consolidate momentum in market recovery by supporting Central Huijin Investment Ltd. and other institutions to act as stabilization funds. The measures underscore a sense of urgency among Chinese officials as stiff tariffs threaten the country's economic growth goal for the year. Retail and catering sales expanded at a slower pace relative to last year with an increase of 6.3% during the Labor Day break, the Xinhua news agency reported earlier this week. The country's factory activity slipped into the worst contraction since December 2023 in April, revealing early damage from the trade war.
Yahoo
10-03-2025
- Business
- Yahoo
Mainland Chinese Investors Buy Record Amount of Hong Kong Stocks
(Bloomberg) -- Mainland Chinese investors bought an unprecedented amount of Hong Kong stocks on Monday, continuing to boost their holdings amid a tech-driven rally this year. NJ College to Merge With State School After Financial Stress Trump Administration Plans to Eliminate Dozens of Housing Offices Where New York City's Zoning Reform Will Add Housing Buffalo's Billion-Dollar Freeway Fix Is on Ice, But Not Because of Trump Inside the 'Not Architecture' of High Line Designers Diller Scofidio + Renfro They snapped up shares worth HK$29.6 billion ($3.8 billion) on a net basis, surpassing the previous record seen in early 2021, according to Bloomberg-compiled data going back to late 2016 — when trading links with the financial hub began. Chinese stocks listed in Hong Kong have been on a tear this year, thanks to the emergence of an artificial-intelligence model from startup DeepSeek that was considered a game-changer in the industry. A gauge of Chinese equities in Hong Kong has outperformed the onshore benchmark as the former houses some of the nation's biggest tech firms like Alibaba Group Holding Ltd. and Inc. Monday's inflows from Chinese buyers came as the Hang Seng China Enterprises Index slid 2.1% following a 5.9% rally last week. 'Mainland funds are keen on buying at the dips, as they still believe most of the Hong Kong tech stocks are still undervalued,' said Jason Chan, a senior investment strategist at Bank of East Asia. 'The major difference of views between foreign investors and Chinese mainland investors is that global investors are more concerned over the geopolitical risks and mainland investors are speculating more on favorable policy toward the AI industry.' The HSCEI gauge is up nearly 20% this year while the onshore benchmark CSI 300 Index has shed 0.2%. The rally in Hong Kong has come even as tariffs-induced trade tensions with the US have intensified. By setting an ambitious economic growth target of around 5% this year, China's ongoing annual legislative session that started last week also has fueled investors' hopes for stronger stimulus measures. Mainland investors have become more influential in the Asian financial hub. In February, they bought HK$153 billion of Hong Kong shares on a net basis, the second-largest monthly purchase on record. Southbound trading accounted for about 24% of the average daily turnover last month, versus 16% a year ago, according to Hong Kong Exchanges & Clearing Ltd. data. (Updates with details on market performance) How Natural Gas Became America's Most Important Export The Mysterious Billionaire Behind the World's Most Popular Vapes An All-American Finance Empire Drew Billions—and a Regulator's Attention Greenland Voters Weigh Their Election's Most Important Issue: Trump Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? ©2025 Bloomberg L.P.
Bloomberg
04-03-2025
- Business
- Bloomberg
Trump's New Tariffs on China, Canada and Mexico to Take Effect
Here's some commentary from Jason Chan, a senior investment strategist at Bank of East Asia: 'While an additional 10% tariff hike to Chinese imports has been mostly priced in, the market would start to worry about further conflicts between China and US. Near term sentiment could turn more cautious. 'However, if there is a stronger-than-expected stimulus package announced in the NPC meeting, the risk-on appetite may resume.'
USA Today
06-02-2025
- General
- USA Today
Japan Airlines plane slices tail of parked Delta Air Lines plane: See video
Japan Airlines plane slices tail of parked Delta Air Lines plane: See video Show Caption Hide Caption Videos show Japan Airlines plane striking parked Delta plane A taxiing Japan Airlines plane appeared to strike a parked Delta plane at the Seattle-Tacoma International Airport. No injuries were reported. A taxiing Japan Airlines plane struck a parked Delta Air Lines plane at Seattle-Tacoma International Airport Wednesday, almost slicing off its tail and prompting the aircrafts to be evacuated. Video footage from the incident shows the right wing of the Japan Airlines plane strike the tail of the Delta Air Lines plane as they were taxiing at the airport. Watch it below. The airport, in a post on X, formerly Twitter, said officials responded to the apparent collision between the two airplanes that occurred between the airport's S concourse and the south maintenance hangars around 10 a.m. local time. The Federal Aviation Authority, in a statement on their website, noted the "aircrafts were in an area that is not under air traffic control." No injuries were reported, and the passengers were safely deplaned back to the terminal, the airport said. One of the passengers on the Delta flight, Jason Chan told the Associated Press the plane shook slightly and 'jiggled back and forth' when the collision occurred. Chan said soon after the shake, the captain announced the plane's tail had been hit, adding passengers remained calm, and they were later taken back to the terminal in buses. Another passenger on the Delta Air Lines flight, Jackie Patton, who was sitting in a window seat, told The New York Times she experienced 'violent shaking in the plane and a really loud crunching sound" when the plane struck. 'It was obvious right away something was wrong,' Patton, who was on her way to Puerto Vallarta to meet her parents for a vacation told the media outlet. 'It was very scary." Lida Turner, who was on the Japan Airlines plane, told local media outlet King 5, the accident "felt like we were in a car accident, like a fender bender." "I think everyone was just in disbelief of what happened with all the recent air issues," Turner told King 5. Airlines issue statements Japan Airlines, in a statement to USA TODAY said it "sincerely apologize(s) to all involved for any inconvenience." "The detailed cause and circumstances are currently under investigation," the statement said. Delta Air Lines, in a statement Thursday, said the Delta 737 aircraft was in line for de-icing, when it "reportedly made contact with a wing tip of another airline's aircraft." "There are no reports of injuries for crew or customers on the flight, and we apologize for the experience and delay in travels," the airline said. Delta Air Lines Flight 1921 with 142 passengers and six crew members on board was heading to Puerto Vallarta, Mexico from Seattle, the airline said, while Japan Airlines Flight 68 had arrived from Tokyo shortly before the incident, according to data on FlightAware. FAA, in its statement, said the agency will investigate the incident. While the airport said there was minimal impact on operations due to the incident, FAA, said it had temporarily "paused some flights to the airport as a result of the incident." Incident comes after crashes in Philadelphia and DC area The incident in Seattle comes amid heightened concerns over air travel in the U.S. after high-profile plane crashes in Philadelphia and near Washington, D.C. left more than 70 people dead. On Tuesday, officials said they recovered all 67 victims in last week's devastating plane and helicopter crash outside the nation's capital, confirming they have identified 66 bodies, as crews worked to remove wreckage from the Potomac River. Then on Friday, a medical transport plane crashed in a residential area of Northeast Philadelphia leaving six people on the plane and one person on the ground dead. Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at and follow him on X @fern_cerv_. Saman Shafiq is a trending news reporter for USA TODAY. Reach her at sshafiq@ and follow her on X and Instagram @saman_shafiq.
