Chinese stocks jumped by the most in more than a month after a stronger than expected rebound in manufacturing underpinned improving sentiment among foreign investors. The CSI 300 Index of the nation’s biggest companies advanced 1.5 per cent to 3,591.61 at the local noon trading break in Shanghai, the most since February 29, while the
UBS Group AG is planning to cut about 90 jobs in Asia private wealth and investment banking in March as China’s stock market rout and a slump in dealmaking have eroded revenue, people familiar with the matter said as quoted by Bloomberg. The Zurich-based lender is weighing a plan to cut about 70 jobs at
Fund managers in Hong Kong appear to be baffled by the slump in Chinese stocks after the market’s worst start to a year since 2016. Some bearish investors wished they were wrong about the gloom. “We have met many investors in Hong Kong in the past weeks, and sentiment is poor,” Winnie Wu, head of
Hong Kong’s stock market ended the year on a miserable note, with some US$520 billion of value obliterated. To Singapore-based hedge fund manager Chua Soon Hock, this provides a “once-in-a-lifetime” opportunity to pick up the pieces. The market kicked off the year with a bang, with investors lapping up so-called “China reopening” stocks, soon after