Hong Kong stocks struck two-month low as investors were rattled by reports of Israeli missiles hitting Iran, and the heightened Middle East tensions triggered a scramble for safe haven assets. The Hang Seng Index lost 1.2 per cent to 16,184.02 at the local noon trading break, the lowest level since February 19. The Tech Index
Hong Kong stocks gained as property developers advanced on speculation the city’s government will remove more curbs this month to stem an industry slump, while HSBC jumped before its earnings report. China pledged to improve policy transparency while state-run funds have stepped up intervention. The Hang Seng Index rose for a second day, adding 2.3
42 Mins Ago Kakaobank shares jump as Q4 profit rises, customer base grows Kakaobank shares jumped 7% on Wednesday after the digital payments firm reported higher fourth-quarter profit. The company’s fourth-quarter net profit rose nearly 25% to 75.7 billion Korean won ($57.2 million) from a year earlier. Kakaobank added 2.42 million new users to its
NEW YORK (AP) — Shares are mixed in Asia, where Chinese markets advanced after a government investment fund said it would step up stock purchases. But the gains in Shanghai, Shenzhen and Hong Kong were much smaller than recent losses. Oil prices rose and U.S. futures were mixed. China’s Central Huijin Investment, a sovereign fund
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 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 per cent to 16,320.00 at 10.35am local time. The Tech
Thu, Jan 4 2024 12:33 AM EST Japan to approve reserved funds to cover damages from New Year’s Day earthquake Japan’s cabinet will approve the use of its reserved funds to cover the damage from the earthquake that hit the Noto Peninsula in Ishikawa prefecture on New Year’s Day, Prime Minister Fumio Kishida said. Reuters
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