Latest news with #SeanTeo
RTHK
3 hours ago
- Business
- RTHK
HK stocks end flat in wait for trade talks' direction
HK stocks end flat in wait for trade talks' direction The Hang Seng Index ended trading for the day 18 points down at 24,162. File photo: AFP Mainland and Hong Kong stocks gave up early gains to close lower on Tuesday as investors adopted a risk-off stance ahead of fresh cues from the ongoing high-level Sino-US trade talks in London. In Hong Kong, the benchmark Hang Seng Index ended trading for the day 18.56 points, or 0.077 percent, down at 24,162.87. The Hang Seng China Enterprises Index fell 0.15 percent to end at 8,767.36 while the Hang Seng Tech Index fell 0.76 percent to end at 5,392.19. Further north, the benchmark Shanghai Composite Index ended down 0.44 percent at 3,384.82. The Shenzhen Component Index closed 0.86 percent lower at 10,162.18. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, was down 1.17 percent to close at 2,037.27. The trade talks extended to a second day as top officials from the world's two largest economies sought to defuse a bitter dispute that has widened from tariffs to restrictions over rare earths, threatening a global supply chain shock and slower economic growth. "US-China talks are definitely the focus for markets this week, yet after the first day of negotiations we're seeing that markets are relatively flat," said Sean Teo, a sales trader at Saxo in Singapore. The two parties are negotiating more complex strategic issues like rare earths, semiconductors and student visas, which are unlikely to be resolved in this meeting alone, he said, so markets are taking a more wait-and-see approach after the initial optimism. The meeting comes at a critical time when China's exports to the US plunged 34.5 percent in May. Semiconductor and defence stocks led the decline, dropping more than 2 percent each at the close. Shares of rare earth companies, which is at the center of the negotiations, extended their rally, with China Rare Earth Holdings jumping 13 percent, after a 60 percent gain in the previous session. Hang Seng Mainland Properties gained 1.9 percent, following a new government guideline released on Monday that vowed to increase the supply of affordable housing. Weaker-than-expected trade and inflation data on Monday is adding to investor hopes of more government stimulus, Bob Savage, head of markets macro strategy at BNY, said in a note. (Reuters/Xinhua)
Business Recorder
6 hours ago
- Business
- Business Recorder
China, HK stocks edge up on hopes for trade talks, more stimulus
HONG KONG: China and Hong Kong stocks inched higher on Tuesday as investors remained cautiously positive and awaited news from high-level US-China trade talks in London, while weak Chinese economic data fuelled expectations of more stimulus from Beijing. The trade talks extended to a second day as top economic officials from the world's two largest economies sought to defuse a bitter dispute that has widened from tariffs to restrictions over rare earths, threatening a global supply chain shock and slower economic growth. China's blue-chip CSI300 Index climbed 0.2% by the lunch break, while the Shanghai Composite Index rose a moderate 0.1%. In Hong Kong, both benchmark Hang Seng and the Hang Seng China Enterprises Index went up 0.3%. 'US-China talks are definitely the focus for markets this week, yet after the first day of negotiations we're seeing that markets are relatively flat,' said Sean Teo, a sales trader at Saxo in Singapore. The two parties are negotiating more complex strategic issues like rare earths, semiconductors and student visas which is unlikely to be resolved in this meeting alone, he said, so markets are taking a more wait-and-see approach after the initial optimism. The meeting comes at a critical time when China's exports to the US plunged 34.5% in May, while its domestic deflationary pressures worsened. Chinese and Hong Kong stocks gain ahead of Sino-US trade talks By midday, real estate and healthcare stocks led the gains, with Hang Seng Mainland Properties gaining 3% and Hang Seng Healthcare up 2.6%. An index tracking onshore pharma and biotech companies also advanced 0.9%. But defense stocks dropped 1.7%. Weaker-than-expected trade and inflation data on Monday is adding to investor hopes of more government stimulus, Bob Savage, head of markets macro strategy at BNY, said in a note. China will provide social insurance subsidies to eligible college graduates and individuals with employment difficulties, raise minimum wage standards, and increase the supply of affordable housing, according to new government guidelines released on Monday.
Mint
7 hours ago
- Business
- Mint
China, HK stocks edge up on hopes for trade talks, more stimulus
HONG KONG, - China and Hong Kong stocks inched higher on Tuesday as investors remained cautiously positive and awaited news from high-level U.S.-China trade talks in London, while weak Chinese economic data fuelled expectations of more stimulus from Beijing. The trade talks extended to a second day as top economic officials from the world's two largest economies sought to defuse a bitter dispute that has widened from tariffs to restrictions over rare earths, threatening a global supply chain shock and slower economic growth. China's blue-chip CSI300 Index climbed 0.2% by the lunch break, while the Shanghai Composite Index rose a moderate 0.1%. In Hong Kong, both benchmark Hang Seng and the Hang Seng China Enterprises Index went up 0.3%. "U.S.-China talks are definitely the focus for markets this week, yet after the first day of negotiations we're seeing that markets are relatively flat," said Sean Teo, a sales trader at Saxo in Singapore. The two parties are negotiating more complex strategic issues like rare earths, semiconductors and student visas which is unlikely to be resolved in this meeting alone, he said, so markets are taking a more wait-and-see approach after the initial optimism. The meeting comes at a critical time when China's exports to the U.S. plunged 34.5% in May, while its domestic deflationary pressures worsened. By midday, real estate and healthcare stocks led the gains, with Hang Seng Mainland Properties gaining 3% and Hang Seng Healthcare up 2.6%. An index tracking onshore pharma and biotech companies also advanced 0.9%. But defense stocks dropped 1.7%. Weaker-than-expected trade and inflation data on Monday is adding to investor hopes of more government stimulus, Bob Savage, head of markets macro strategy at BNY, said in a note. China will provide social insurance subsidies to eligible college graduates and individuals with employment difficulties, raise minimum wage standards, and increase the supply of affordable housing, according to new government guidelines released on Monday. This article was generated from an automated news agency feed without modifications to text.
Gulf Insider
30-04-2025
- Automotive
- Gulf Insider
Abu Dhabi Expands Autonomous Robotaxi Trials
The Integrated Transport Centre (Abu Dhabi Mobility) announced expanding the autonomous RoboTaxi service in the emirate. The service is offered in collaboration with Autogo, a subsidiary of Kintsugi Holding, as part of a strategic partnership with Apollo Go, a subsidiary of China's Baidu. These trials represent a preparatory phase for the full-scale launch of the service by 2026. UAE announces new air corridor project for flying taxis, drones Dr Abdulla AlGhfeli, Acting Director-General of the Integrated Transport Centre, said the expansion of the autonomous RoboTaxi service in Abu Dhabi marks a pivotal milestone in the journey towards smart mobility. 'We are committed to leveraging the latest technologies to make mobility smarter and safer, while reinforcing Abu Dhabi's position as a global leader in this field,' he said. Sean Teo, General Manager of Kintsugi Holding, said the start of a new operational phase of the RoboTaxi service in Abu Dhabi marks the beginning of a transformative shift in urban mobility. 'Autonomous taxis serve two vital objectives: improving road safety and enabling more sustainable transport. We are proud to support this significant development in the United Arab Emirates,' Teo said. The smart mobility technology initiative is launched in line with Abu Dhabi's mobility vision to deliver smart, efficient transport solutions that enhance quality of life and support digital transformation. The sixth generation of RoboTaxi vehicles (RT6) has been designed to provide an intelligent and seamless mobility experience. Developed to meet the evolving needs of modern cities, the RT6 features a cutting-edge electric design and AI-powered systems that enable accurate navigation and immediate responsiveness to real-time road conditions. They also support environmental sustainability by lowering emissions, alleviating traffic congestion, and contributing to the development of future-ready smart cities. Also read: UAE: Fire at Abu Dhabi's Al Wahda Mall Brought Under Control; No Injuries Reported
Arabian Business
29-04-2025
- Automotive
- Arabian Business
Abu Dhabi expands autonomous RoboTaxi trials ahead of 2026 full launch
The Integrated Transport Centre (Abu Dhabi Mobility) announced expanding the autonomous RoboTaxi service in the emirate. The service is offered in collaboration with Autogo, a subsidiary of Kintsugi Holding, as part of a strategic partnership with Apollo Go, a subsidiary of China's Baidu. These trials represent a preparatory phase for the full-scale launch of the service by 2026. Dr Abdulla AlGhfeli, Acting Director-General of the Integrated Transport Centre, said the expansion of the autonomous RoboTaxi service in Abu Dhabi marks a pivotal milestone in the journey towards smart mobility. 'We are committed to leveraging the latest technologies to make mobility smarter and safer, while reinforcing Abu Dhabi's position as a global leader in this field,' he said. Sean Teo, General Manager of Kintsugi Holding, said the start of a new operational phase of the RoboTaxi service in Abu Dhabi marks the beginning of a transformative shift in urban mobility. 'Autonomous taxis serve two vital objectives: improving road safety and enabling more sustainable transport. We are proud to support this significant development in the United Arab Emirates,' Teo said. The smart mobility technology initiative is launched in line with Abu Dhabi's mobility vision to deliver smart, efficient transport solutions that enhance quality of life and support digital transformation. The sixth generation of RoboTaxi vehicles (RT6) has been designed to provide an intelligent and seamless mobility experience. Developed to meet the evolving needs of modern cities, the RT6 features a cutting-edge electric design and AI-powered systems that enable accurate navigation and immediate responsiveness to real-time road conditions. They also support environmental sustainability by lowering emissions, alleviating traffic congestion, and contributing to the development of future-ready smart cities.
