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Shanghai benchmark retreats to five-month low as US and China up the ante in trade war

China’s stocks dropped to the lowest level in five months after the US designated the Asian nation as a currency manipulator and Beijing suspended procurement of American agricultural products as the trade war flared up between the world’s two largest economies.The Shanghai Composite Index fell 1.6 per cent to 2,775.14 on Tuesday, with the benchmark capping a 5.9 per cent, five-day loss and closing at the lowest level since February 21. Hong Kong’s Hang Seng Index lost 0.7 per cent to 25,976.24… Source link

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China’s stock benchmark extends biggest drop in nine weeks as interest rate outlook and IPO glut weigh on sentiment

China’s stocks extended their steepest decline in nine weeks on Tuesday, as concerns about global monetary policies and increased stock supply continued to weigh on sentiment.The Shanghai Composite Index fell 0.2 per cent to 2,928.19. The benchmark had tumbled 2.6 per cent in the previous session on fears the Federal Reserve would not cut interest rates soon amid improved US jobs data and a slew of IPOs would drain liquidity.Hong Kong’s Hang Seng Index slid for a fifth session. It fell 0.8 per… Source link

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China mulls scrapping benchmark lending rates in line with market conditions in latest reform move

China is considering scrapping its official benchmark lending rates to allow banks to react to market conditions in the latest move to liberalise interest rates, People’s Bank of China governor Yi Gang said on Tuesday.Yi’s comments in the middle of the trade war with the United States may be a bid to show that Beijing remains determined to continue market-oriented reforms rather than embark on aggressive monetary easing to help stabilise the economy.Market reforms should continue to benefit… Source link

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Global index compiler MSCI begins process to lift Chinese stocks’ weighting in benchmark gauges

Global index compiler MSCI has taken the first step to increase the representation of Chinese shares in its benchmark gauges as part of a plan to quadruple the stocks’ weighting by November.The weighting of mainland-traded shares in the MSCI Emerging Markets Index will double starting on Tuesday, with the inclusion factor, or adjusted free-float market cap, lifted to 10 per cent from 5 per cent, MSCI said in a media release.Meanwhile, a raft of big companies on the ChiNext board hosting growth… Source link

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Hong Kong’s benchmark stock index bursts through 30,000 points again as HSBC profit beats estimates

Hong Kong stocks rose on Friday after HSBC beat estimates with its first-quarter earnings, the benchmark Hang Seng Index finishing above the key 30,000-point level.The gauge added 0.5 per cent to close at 30,081.55, bringing the week’s gains to 1.6 per cent, the largest increase in four weeks.Turnover in the market stood at HK$66.9 billion (US$8.5 billion), well below the daily average of HK$110.6 billion achieved in March. The mainland Chinese markets remained closed for the Labour Day public… Source link

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China’s stock benchmark drops from one-year high as carmakers weigh on sentiment

China’s stocks fell from a one-year high, as carmakers ran out of gas following a rally spurred by speculation about government stimulus to bolster car salses.The Shanghai Composite Index dropped 0.4 per cent, or 12.92 points, to 3,250.20 at the close on Thursday after rising to the highest level since March 2018 a day earlier. A gauge tracking auto stocks slumped 1.9 per cent after surging 7 per cent over the past two days, according to data provider Shanghai DZH. Hong Kong’s Hang Seng Index… Source link

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Shanghai’s benchmark stock index rises to a 12-month high, buoyed by an unexpected pickup in China’s services industry

An investor at a stock exchange in Nanjing, capital of east China’s Jiangsu province on March 4, 2019. Contrary to global conventions, China’s stock market denotes gains and advances in red, and represents losses and declines in green. Photo: Xinhua Source link

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China’s world-beating stocks rally fizzles out as benchmark closes below 3,000 for first time in two weeks

The world-beating run-up on Chinese stocks faltered on Tuesday, with the benchmark Shanghai Composite Index falling back below the 3,000-point level on mounting concern that the rapid share-price gains had outstripped an improvement in fundamentals.The Shanghai Composite retreated 1.5 per cent, or 45.94 points, to 2,997.10 at the close, extending a 2 per cent slump on Monday. It was the first time the gauge had closed below the 3,000-point milestone in two weeks. Hong Kong’s Hang Seng Index… Source link

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Shanghai bulls charge ahead, giving benchmark 2.7 per cent weekly gain

China’s stocks rose on Friday, with the benchmark gauge capping a second weekly gain, as traders bet that the world-beating rally on the world’s biggest emerging market will carry on.The Shanghai Composite Index added 0.1 per cent, or 2.69 points, to 3,104.15 at the close, adding to a 2.7 per cent gain this week. Hong Kong’s Hang Seng Index also rose slightly.The mainland’s equity benchmark has eked out gains every week this year except one, rising 24 per cent this year as the world’s best… Source link

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Stocks Blog: Shanghai benchmark trying to hit 9-month high

Welcome to the launch of the South China Morning Post’s Live Stocks Blog!  Each trading day, we will provide investors with timely news and analysis about markets in mainland China and Hong Kong, including significant moves in benchmarks and individual shares as well snapshots of companies, sectors, trends and markets-impacting government policy. (Stock trading involves judgment calls and risks that the SCMP cannot be held responsible for.) Today, your main markets guides will be Zhang… Source link

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