Latest news with #VivekBhutoria
RTHK
3 days ago
- Business
- RTHK
Hang Seng Index races up amid rate cut hopes
Hang Seng Index races up amid rate cut hopes The Hang Seng Index put on 643 points, or 2.58 percent, to end trading for Wednesday at 25,613. File photo: RTHK Mainland and Hong Kong stocks rose for a third straight session on Wednesday, with the Shanghai benchmark posting its highest close in nearly four years, as prospects of a Federal Reserve interest rate cut next month lifted investor sentiment. The benchmark Hang Seng Index added 643 points, or 2.58 percent, to end trading for the day at 25,613. The Hang Seng China Enterprises Index ticked up 2.62 percent to end at 9,150 while the Hang Seng Tech Index climbed 3.52 percent to close at 5,630. Mainland stocks closed higher, with the benchmark Shanghai Composite Index up 0.48 percent at 3,683 and the Shenzhen Component Index 1.76 percent higher at 11,551. The combined turnover for these two indexes was 2.15 trillion yuan, up from 1.88 trillion yuan on Tuesday. Shares related to glass and non-ferrous metals led gains while stocks related to petroleum and breweries suffered major losses. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 3.62 percent to close at 2,496. Expectations have firmed for a Fed rate cut in September after the US consumer inflation report indicated the pass-through from President Donald Trump's sweeping tariffs to goods prices has so far been limited. With rising expectations of a Fed rate cut, risk appetite improved and "emerging and developed equity markets resonated," analysts at Guoyuan Securities said in a note. Lifting market sentiment further, China said it would offer interest subsidies for businesses in eight consumer service sectors to support services consumption amid a slowing economy. "China retains the fiscal firepower to stimulate growth and absorb slack from reduced exports should tariffs from the US be punitive," said Vivek Bhutoria, portfolio manager for global emerging market equities at Federated Hermes. "We believe the market has been over-discounting risks in relation to Chinese equities, and even if Trump levies punitive tariffs this week, China has the ability to grow its way to prosperity and, as such, we are still positive on China." (Reuters/Xinhua)
RTHK
3 days ago
- Business
- RTHK
Hang Seng Index races up amid rate cut hopes
Hang Seng Index races up amid rate cut hopes The Hang Seng Index put on 643 points, or 2.58 percent, to end trading for Wednesday at 25,613. File photo: RTHK Mainland and Hong Kong stocks rose for a third straight session on Wednesday, with the Shanghai benchmark posting its highest close in nearly four years, as prospects of a Federal Reserve interest rate cut next month lifted investor sentiment. The benchmark Hang Seng Index added 643 points, or 2.58 percent, to end trading for the day at 25,613. The Hang Seng China Enterprises Index ticked up 2.62 percent to end at 9,150 while the Hang Seng Tech Index climbed 3.52 percent to close at 5,630. Mainland stocks closed higher, with the benchmark Shanghai Composite Index up 0.48 percent at 3,683 and the Shenzhen Component Index 1.76 percent higher at 11,551. The combined turnover for these two indexes was 2.15 trillion yuan, up from 1.88 trillion yuan on Tuesday. Shares related to glass and non-ferrous metals led gains while stocks related to petroleum and breweries suffered major losses. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 3.62 percent to close at 2,496. Expectations have firmed for a Fed rate cut in September after the US consumer inflation report indicated the pass-through from President Donald Trump's sweeping tariffs to goods prices has so far been limited. With rising expectations of a Fed rate cut, risk appetite improved and "emerging and developed equity markets resonated," analysts at Guoyuan Securities said in a note. Lifting market sentiment further, China said it would offer interest subsidies for businesses in eight consumer service sectors to support services consumption amid a slowing economy. "China retains the fiscal firepower to stimulate growth and absorb slack from reduced exports should tariffs from the US be punitive," said Vivek Bhutoria, portfolio manager for global emerging market equities at Federated Hermes. "We believe the market has been over-discounting risks in relation to Chinese equities, and even if Trump levies punitive tariffs this week, China has the ability to grow its way to prosperity and, as such, we are still positive on China." (Reuters/Xinhua)
Business Recorder
3 days ago
- Business
- Business Recorder
Shanghai stocks hit over 3-1/2-year high on Fed rate-cut hopes
SHANGHAI/SINGAPORE: Mainland China and Hong Kong stocks rose for a third consecutive session on Wednesday, with the Shanghai benchmark hitting a more than 3-1/2-year high, as prospects of a Federal Reserve interest rate cut next month lifted investor sentiment. At the midday break, the Shanghai Composite index was up 0.56% after hitting the highest level since December 13, 2021 in morning trade. China's blue-chip CSI300 index climbed 0.92%. In Hong Kong, the Hang Seng Index rose 1.88%. Expectations have firmed for a Fed rate cut in September after the US consumer inflation report indicated the pass-through from President Donald Trump's sweeping tariffs to goods prices has so far been limited. With rising expectations of a Fed rate cut, risk appetite improved and 'emerging and developed equity markets resonated,' analysts at Guoyuan Securities said in a note. The MSCI All Country World Index hit an all-time high. Lifting market sentiment further, China said it will offer interest subsidies for businesses in eight consumer service sectors to support services consumption amid a slowing economy. 'China retains the fiscal firepower to stimulate growth and absorb slack from reduced exports should tariffs from the US be punitive,' said Vivek Bhutoria, portfolio manager for global emerging market equities at Federated Hermes. 'We believe the market has been over-discounting risks in relation to Chinese equities, and even if Trump levies punitive tariffs this week, China has the ability to grow its way to prosperity and, as such, as we are still positive on China.' China's A shares have been trending higher in recent weeks, as investors priced in positive signals from a series of US-China trade talks.
Bloomberg
30-01-2025
- Business
- Bloomberg
Federated Hermes Says Indian Stocks Battling a ‘A Perfect Storm'
Vivek Bhutoria has been bearish on Indian stocks for three quarters. The Federated Hermes money manager is now keen to see if two major policy events due within the next seven days give him reasons to change that view. 'We are in a wait-and-watch mode,' said Bhutoria, who manages about $2.7 billion in assets across emerging markets. 'In a way, India is in a perfect storm: slowing growth, tight liquidity, a weakening rupee, foreign outflows on dollar's strength, weak earnings, and high valuations.'
