HSI surges over China rate cut

Hong Kong equities closed higher on Friday, with market sentiment boosted by China’s decision to lower a key benchmark rate. The Hang Seng Index rose 2.96 percent, or 596.56 points, to 20,717.24. Both the mainland’s indexes also closed higher. The Shanghai Composite Index jumped 1.60 percent, or 49.60 points, to 3,146.57, while the Shenzhen Composite […]

Hong Kong shares open flat

Hong Kong stocks barely moved at the open of trade on Friday as traders struggled to track a strong rally on Wall Street, with tech firms in the spotlight after Apple and Amazon reported below-forecast earnings. The Hang Seng Index inched down to 20,271. The Shanghai Composite Index rose 0.36 percent to 2,986, while the […]

Streaming drives 2021 music sales to record US$26bn

Global recorded music revenues rose 18.5 percent to a record US$25.9 billion last year, driven by an increase in paid subscription streaming, according to a report released on Tuesday. The numbers represent the market’s seventh consecutive year of growth. A recovery in physical retail following Covid-19 lockdowns also allowed physical music formats to enjoy growth […]