Hong Kong and Shanghai stocks finished lower on Tuesday with investors worried about the economic impact of a fresh Covid outbreak in China that has forced officials to lockdown millions to prevent its spread. The Hang Seng Index shed 0.36 percent, or 93.76 points, to 26,038.27. The Shanghai Composite Index slipped 0.34 percent, or 12.22 […]
Hong Kong stocks opened sharply lower on Wednesday morning after US officials banned China Telecom from operating in the country citing national security concerns, cranking up tensions between the economic superpowers. The Hang Seng Index fell 0.93 percent to 25,795. The Shanghai Composite Index slipped 0.22 percent to 3,590, while the Shenzhen Composite Index dropped […]
US stock indexes closed modestly higher on Tuesday, with the Dow Industrials and S&P 500 hitting fresh records, and gains were subdued as Facebook shares fell in the wake of its quarterly earnings. Facebook, down 3.92 percent, was the biggest drag on the S&P 500 and Nasdaq, after the company warned that Apple’s new privacy […]
The World Trade Organisation said on Tuesday it had agreed to set up a panel to examine China’s imposition of duties on imported Australian wine, one of several disputes souring relations between the two countries. The dispute settlement body, which met behind closed doors on Tuesday, agreed to Australia’s second request after its first attempt […]
The US Federal Communications Commission (FCC) on Tuesday voted to revoke authorisation for China Telecom’s US subsidiary to operate in the United States, citing what it said were national security concerns. China Telecom, the largest Chinese telecommunications company, has had authorisation to provide telecommunications services for nearly 20 years in the United States. China Telecom […]
Hong Kong stocks ended flat on Monday following last week’s healthy gains, with traders keeping tabs on developments in China where authorities are battling another Covid outbreak. The Hang Seng Index inched up 5.10 points to 26,132.03. The Shanghai Composite Index rose 0.76 percent, or 27.26 points, to 3,609.86, while the Shenzhen Composite Index on […]
Hong Kong stocks opened higher on Tuesday following a record close on Wall Street while traders cheered US lawmakers’ progress on an agreement over President Joe Biden’s proposals to stimulate the economy. The Hang Seng Index added 0.4 percent to 26,234. The Shanghai Composite Index ticked up 0.1 percent to 3,612, while the Shenzhen Composite […]
The Dow Industrials and S&P 500 closed at record highs on Monday, as earnings season kicked in to high gear in one of the heaviest reporting weeks of the quarter with bellwethers in multiple sectors poised to announce results. While the Dow and S&P hit new highs, the Nasdaq outperformed on the day, buoyed by […]
The head of the US National Transportation Safety Board on Monday criticised electric carmaker Tesla’s decision to provide new self-driving software to vehicle owners without addressing safety concerns that the agency raised after a series of fatal accidents. NTSB Chair Jennifer Homendy wrote a letter to Tesla chief executive Elon Musk about his decision to […]
China Evergrande Group said on Sunday it had resumed work on more than 10 projects in six cities including Shenzhen – a statement that comes after it appeared to avert default with a last-minute bond coupon payment last week. Evergrande, deep in crisis with more than US$300 billion in liabilities, has not disclosed how many […]
HSBC’s pre-tax profit jumped 76 percent on year in the third quarter, the British bank said Monday, as chief executive Noel Quinn declared ‘the lows of recent quarters are behind us’ and announced a US$2 billion share buyback. In a statement to the Hong Kong stock exchange the banking giant reported pre-tax profit in July-September […]
Hong Kong stocks opened slightly lower on Monday morning following a healthy run-up last week, while traders are keeping a wary eye on a fresh Covid outbreak on the mainland. The Hang Seng Index slipped 0.4 percent to 26,020. The Shanghai Composite Index shed 0.2 percent to 3,574, while the Shenzhen Composite Index was marginally […]
The top decision-making body of the Chinese parliament said on Saturday it will roll out a pilot real estate tax in some regions, the official Xinhua news agency reported. The State Council will determine which regions will be involved and other details, Xinhua added. The long-mooted and long-resisted property tax has gained new momentum since […]
Hong Kong stocks ended a positive week with more gains on Friday as traders were buoyed by reports that troubled developer China Evergrande had averted a default after paying interest on a bond just ahead of a weekend deadline. The Hang Seng Index rose 0.42 percent, or 109.40 points, to 26,126.93. Evergrande climbed 4.26 percent. […]
The Dow has finished at a record on Friday, capping a strong week for US stocks following mostly solid corporate earnings that have offset worries about inflation. The blue-chip Dow Jones Industrial Average ended up 0.2 percent at 35,677, its first record since mid-August. But both of the other two major indices retreated, even as […]
Hong Kong stocks shares fell on Thursday as teetering developer China Evergrande resumed trading after a 17-day suspension, announcing that a planned sale of its property services unit had fallen through and warning it would struggle to meet its debt obligations. The Hang Seng Index sank 0.45 percent, or 118.49 points, to 26,017.53. Evergrande ended […]
China’s troubled property giant Evergrande has made a key offshore interest payment a day ahead of a weekend deadline, mainland media said on Friday, averting a devastating default. Fears that Evergrande could collapse and send shockwaves through the Chinese economy have rattled buyers and markets, and shares plunged as the group resumed trading on Thursday […]
Hong Kong shares rose in the first few minutes of trade Friday morning following a record lead from Wall Street while a report said troubled developer China Evergrande had paid the interest on an offshore bond a day before the deadline. The Hang Seng Index rose 0.37 percent, or 97.31 points, to 26,114.84. The Shanghai […]
The S&P 500 finished at a record on Thursday following another round of mostly solid earnings from Tesla and others, even as weak IBM results weighed on the Dow. The broad-based S&P 500 climbed 0.3 percent to 4,550, its first record close since early September as Tesla, American Airlines and Union Pacific all climbed following […]
Bitcoin hit a new record on Wednesday, surging past US$65,000 after it took another step towards mainstream status as the world’s biggest cryptocurrency forayed onto Wall Street. A bitcoin futures exchange-traded fund (ETF), a type of financial instrument, made its debut on the New York Stock Exchange on Tuesday. The cryptocurrency soared to US$65,778, according […]