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Hang Seng Index rises to highest level in six weeks as trade war angst eases

The Hang Seng Index rose 1.8 per cent to close at 27,159.06, its highest level since August 1, as investors’ outlook on the US China trade war improved, prompting them to snap up banking and property stocks.The gains in Hong Kong on Wednesday contrasted with the CSI 300, which tracks blue chips listed on Shenzhen and Shanghai bourse. It closed down 0.7 per cent at 3,930.1, while the Shanghai Composite Index finished down 0.4 per cent at 3,008.81.China on Wednesday unveiled a list of 16 types of… Source link

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Stocks Blog: China, Hong Kong markets trying to shake off trade war angst

Good day, traders. US universities are the latest to be pulled into the US-China tug-of-war. China is warning its students about a growing chill around visas.  We’re into the second trading day of June, with many traders feeling stuck until they see real news of progress in relations between the world’s two largest economies. The stocks team will be keeping you posted on the latest in the Hong Kong and mainland markets. If you have questions or feedback, please reach out to deb.price@scmp… Source link

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Loss aversion angst grips Chinese developers as Australian housing market fades

Chinese developers who arrived late to the fading Australian housing boom are faced with a curious choice: is it better to cut losses on investments that have turned sour or ride out the slump in the hope of an eventual recovery?One option is take the loss upfront by unloading land to other developers, a move seen as appealing to smaller developers who lack the financial firepower to wait it out in expectation of an eventual recovery.About a half-dozen Chinese developers have expressed a… Source link

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