Asian equities fell as COVID-19 concerns and revived concerns about regulatory pressure from China weighed on markets.
Tutoring industry stocks plummeted after Chinese officials confirmed a crackdown on after-school education businesses.
Despite strong volatility in the sector and recent share price tumbles, Ark Invest CEO Cathie Wood backs "disruptive innovation platforms" in China.
With $1.9 trillion in stimulus now a certainty, risk assets such as stocks, emerging-market currencies, crude oil and copper rallied.
European shares eased, but would still likely post their biggest monthly increase on record in November, buoyed by optimism over the economic outlook from the rollout of a COVID-19 vaccine. Market-based signs of investor nervousness, including falling government bond yields and a rise in volatility, pointed to a degree of […]
A Hong Kong media stock rose over 1,000%, as pro-democracy activists piled into the company’s shares in support of its arrested founder, Jimmy Lai. Shares of Lai’s firm, Next Digital, were the third-most traded in Hong Kong markets on Tuesday after tech giant Tencent and web-based retailer Meituan Dianping. The […]
Investors from mainland China bought nearly $US20 billion worth of Hong Kong stocks in the months since June, The Wall Street Journal reported. The Chinese buyers are enticed by cheap prices, as antigovernment protests pull Hong Kong into its first recession in a decade and drag on the city’s Hang […]
Hong Kong’s stocks rallied on close as Carrie Lam, chief executive of Hong Kong, is set to remove the controversial extradition bill. Thousands of protesters marched against the bill for months, as the central Chinese government wanted to allow Hong Kong’s citizens to be tried in mainland China. The Hang […]
The US Treasury Department has officially called China out for manipulating its currency to give itself “an unfair competitive advantage”. The accusation was in response to China setting its yuan to an 11-year low amid rising US tariffs against its goods. The escalation has spooked global markets, wiping between 2.9% […]
The Federal Reserve held interest rates steady Wednesday, and Fed Chairman Jerome Powell said the US central bank would be patient with hikes. Stock markets quickly moved higher, with the Hang Seng approaching a four-month high. Also Wednesday, Facebook announced fourth-quarter earnings that beat Wall Street expectations. Facebook soared 11% […]
Hong Kong media company sees shares jump almost 900% on day of IPO. Shares in Most Kwai Chung, a media firm which publishes a popular satirical magazine, climbed from HK$1.2 (£0.11; $US0.15) to a high of HK$11.76 (£1.06; $US1.50). “We feel surprised about the market response,” a spokesman for the […]
With China at the centre of an escalating trade war that has rattled global markets, all eyes were on the Shanghai stock exchange when markets opened at 12:30pm AEDT. And perhaps not surprisingly, Chinese stocks are getting hammered — as the Shanghai composite index immediately dipped by more than 3%. […]
The Hang Seng index on the Hong Kong stock exchange cleared 28,000 in early trade this morning. The index last closed above 28,000 in May 2015. This morning’s gain follow a 1.2% rise on Friday, after the index was closed for a typhoon on Thursday. Despite the move higher, global […]
Hong Kong’s stock exchange (HKSE) was closed for morning trade as a severe typhoon hit the island. Authorities yesterday raised the storm warning to its highest level for the first time in five years due to Typhoon Hato. Flights to and from Hong Kong airport were cancelled and the city’s […]
Stocks across Asia-Pacific markets are lower today amid rising geo-political tensions in the region. It follows a sell-off in overnight markets, as global stocks got the jitters from rising levels of animosity between the US and North Korea. Overnight there was more tough rhetoric from US President Donald Trump, who […]
Hong Kong’s Hang Seng index is on track for another intra-day gain of more than 1% this afternoon, and is now up an impressive 3.9% for the week. It follows another strong gain yesterday which pushed the index to a two-year high above 26,000. Asian markets are getting the positive […]
It’s not been a good start to Lunar New Year for stocks in Hong Kong. Upon the resumption of trade following a five-day break the Hang Seng index has fallen by over 4%, taking it to levels last seen in June 2012. As the chart below reveals, it’s not been […]