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30 Jan Hong Kong stocks slip in worst January since 2016 on BYD earnings miss, weak China manufacturing outlook

Posted at 02:44h in Asia

Hong Kong stocks dropped, with the benchmark index heading for the worst January since 2016, amid renewed concerns about corporate earnings and China’s economic recovery outlook. EV maker BYD slumped after profits trailed market consensus.The Hang Seng Index fell 1.8 per cent to 15,794.32...

19 Jan Hong Kong stocks rise for second day, trimming weekly loss with AIA, SMIC, BYD posting gains on valuation appeal

Posted at 02:32h in Asia

Stocks in Hong Kong rebounded for a second day as traders deemed the market’s slump this week to the lowest level in 14 months as excessive. Some valuation measures reached near all-time lows.The Hang Seng Index climbed 0.6 per cent to 15,483.85 as of...

18 Jan Hong Kong stocks halt four-day rout as market’s slump to 14-month low deemed excessive

Posted at 03:05h in Asia

Hong Kong stocks halt four-day rout as market’s slump to 14-month low deemed excessiveHong Kong stocks rebounded on speculation a four-day rout in the city’s benchmark index was excessive. A technical indicator indicated the market was oversold and due for a reversal.The Hang Seng...

17 Jan ‘Chronic disappointment’: global funds make big cut in China stock allocation amid entrenched pessimism on economy, policies

Posted at 06:30h in Asia

More global fund managers are turning away from Chinese stocks due to “chronic disappointment” with the economic outlook and market slump, trimming their allocations by the most since April, according to a Bank of America survey. Japan remains the undisputed favourite market.Investors cut the...

17 Jan Alibaba, HSBC, Longfor drag Hong Kong stocks to 14-month low as China’s growth trails forecasts, home prices fall by most since 2015

Posted at 02:39h in Asia

Hong Kong stocks slumped to the lowest in more than 14 months after a government report on growth in China’s economy trailed market consensus and home prices slipped. Fund managers are trimming their allocations on Chinese companies, with policymakers hobbled by inadequate monetary stimulus.The...

16 Jan Hong Kong stocks hover near 14-month low as cautious investors expect mixed China economic data

Posted at 02:31h in Asia

Hong Kong stocks declined for a third day before a key release of 2023 economic data that is expected paint a mixed picture for China’s recovery.The Hang Seng Index fell 0.2 per cent to 16,182.02 as of 10am local time to hover around a...

11 Jan Hong Kong stocks arrest 7-day slump as mainland China funds step up purchases with market trading at 14-month low

Posted at 02:55h in Asia

Hong Kong stocks jumped, snapping a seven-day slide, after mainland Chinese fund managers added to their purchases as the market reached the lowest level since November 2022 this week. Sentiment improved amid bullish trades in US and Asian equities.The Hang Seng Index added 1.4...

10 Jan China stock catalysts seen lacking as economic woes run deep while Goldman bets on a 19 per cent rebound to end 3-year slump

Posted at 07:00h in Asia

China’s stock market suffers from a lack of positive drivers as the new year begins and Beijing’s support efforts are likely to keep falling flat amid persistent risks, according to analysts and money managers.Geopolitical tensions, China deflation and a possible US recession are seen...

10 Jan Hong Kong stocks slide for seventh day as strategists cut targets on growth outlook while Taiwan tensions sap appetite

Posted at 02:35h in Asia

Hong Kong stocks fell for a seventh day as strategists at Citigroup and HSBC lowered their upside targets amid worries about interest rates and China’s weak economic recovery. China cranked up cross-strait tensions ahead of a presidential election in Taiwan.The Hang Seng Index declined...

05 Jan Hong Kong stocks set to cap loss in first week of 2024 on China growth concerns and US rate outlook

Posted at 02:38h in Asia

Hong Kong stocks were heading for a loss in the first week of 2024, as a slowdown in China’s growth and longer than expected policy tightening in the US dented sentiment.The Hang Seng Index fell 0.1 per cent to 16,637.83 as of 10am local...

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