Post Tagged with: "markets"

China, Hong Kong benchmarks rebound, defying big sell-offs in region over Apple train wreck

China, Hong Kong benchmarks rebound, defying big sell-offs in region over Apple train wreck

China and Hong Kong stocks defied big sell-offs in Asia in Friday trading, with the Shanghai Composite capping its biggest gain in a month, as suspected state buying and bargain-hunting of beaten-down companies propped up equities reeling from the world’s worst performance last year. Apple suppliers in Asia, however, took […]

Apple-related stocks hammered in China, Hong Kong markets after US smartphone giant cuts revenue outlook

Apple-related stocks hammered in China, Hong Kong markets after US smartphone giant cuts revenue outlook

Hong Kong and Chinese stocks struggled for direction on Thursday, ending the session with marginal losses, as Apple suppliers were hammered after the smartphone giant slashed its revenue outlook based on weaker-than-expected iPhone sales in China. The Hang Seng Index closed down 0.35 per cent, or 87.74 points, at 25,042.61. […]

‘Flash crash’ rips through Asia’s currency markets, exacerbated by algorithmic programming that sends the yen soaring

‘Flash crash’ rips through Asia’s currency markets, exacerbated by algorithmic programming that sends the yen soaring

It took seven minutes for the yen to surge through levels that have held through almost a decade. Traders are still seeking to piece together what happened just before 9:30am in Sydney, when orders came to sell Australia’s dollar and Turkey’s lira against the yen. While some pointed to risk […]

Citibank thinks Hong Kong stocks can claw their way back from painful slide. Here’s how

Citibank thinks Hong Kong stocks can claw their way back from painful slide. Here’s how

After a bloodbath in 2018, the Hong Kong stock market just got bullish vote of confidence – Citibank is forecasting the Hang Seng Index will rebound to 30,000 by the end of the year. That would be a nearly 20 per cent rise from its close at 25,130 on Wednesday. […]

China National Tobacco, the world’s largest cigarette maker, plans Hong Kong IPO for international unit

China National Tobacco, the world’s largest cigarette maker, plans Hong Kong IPO for international unit

China National Tobacco, a state monopoly that is by far the biggest cigarette maker in the world, plans to list its international unit on the Hong Kong stock exchange even as pressure increases on the government to curb smoking. The unit, China Tobacco International, is primarily responsible for procuring overseas […]

Why this Hong Kong tycoon’s family backed biotech firm ditches the city for Nasdaq listing

Why this Hong Kong tycoon’s family backed biotech firm ditches the city for Nasdaq listing

Stealth BioTherapeutics, a US-based mitochondrial diseases drug developer backed by Hong Kong property developer Hang Lung Group’s Chan family, has ditched its listing plan in the city for a flotation in the disclosure-based Nasdaq market that has fewer time-consuming approval hurdles. The move comes after a sharp correction of pharmaceutical […]

Market woes continue into 2019 as China, Hong Kong stocks kick off new year with losses amid fresh indications of slowdown

Market woes continue into 2019 as China, Hong Kong stocks kick off new year with losses amid fresh indications of slowdown

The stock markets in mainland China and Hong Kong kicked off 2019 with losses, after two gauges indicated manufacturing had contracted in China, the world’s second-largest economy, and added to concerns about a slowdown. On the mainland, the benchmark Shanghai Composite Index dropped 1.15 per cent, or 28.61 points, to […]

The bicycle kingdom goes electric, and China’s biggest e-bike maker Yadea wants to make most of them

The bicycle kingdom goes electric, and China’s biggest e-bike maker Yadea wants to make most of them

Dong Jinggui, chairman of China’s largest electric scooter maker , envisions rebranding e-bike as glitzy and hi-tech by launching new models that would be priced five times more than existing products. The Hong Kong-listed company plans to unveil dozens of new electric bicycles in 2019, with some products priced at […]

Electric carmaker Faraday Future gets opportunity to rebuild after settling dispute with main investor Evergrande

Electric carmaker Faraday Future gets opportunity to rebuild after settling dispute with main investor Evergrande

Embattled electric car start-up Faraday Future is free to conduct debt and equity financing after it settled a dispute with mainland China property conglomerate Evergrande Group, a key investor, on Monday. Evergrande said it had agreed to restructure its pledged US$2 billion investment in the Los Angeles, California-based carmaker, which […]

Gold price rises above US$1,300 as investors rush for sanctuary amid the bloodbath in global stock markets

Gold price rises above US$1,300 as investors rush for sanctuary amid the bloodbath in global stock markets

Gold pierced the US$1,300 level to extend a new year rally. Investors flocked to the metal with global equities in retreat, signs of a slowdown stacking up, and the oldest of havens showing its mettle as exchange-traded funds draw in increased flows. Futures spiked as much as 0.4 per cent […]