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Stocks Blog: China traders hoping mainland banks will cut loan prime rate

Happy Friday, traders — In China, traders are hoping mainland banks will cut the loan prime rate, following a reduction by the US Fed in its key benchmark rate and as the China economy slows. Sentiment remains week in Hong Kong, where stocks have fallen four straight days. Stocks of retailers have been hit hard. Chow Sang Sang (116 HK) is down 24 percent, and Chow Tai Fook (129 HK) is down 20.7 per cent, since July 19, when the demonstrations began taking a violent turn.  We have you… Source link

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Stocks Blog: Hong Kong cuts base rate after US Fed move

Good day traders — Well, we’ll see whether the Fed’s interest cut stirs any investor passions since it’s been baked in the cake. “We took this step to help keep the U.S. economy strong in the face of some notable developments and to provide insurance against ongoing risks,” Chairman Jerome Powell said, but left door open to more cuts if needed.  We’ll be watching Kweichow Moutai (600519 CH) after its 5 per cent jump Wednesday. Blog readers will remember the prediction in Wednesday’s blog by… Source link

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Stocks Blog: Hong Kong retailers slammed by protests

Good day, traders — We can expect Hong Kong ‘s stock market to continue to feel fallout from the protests today. Here are just a few things to consider: One in every 10 shops in Causeway Bay now stands empty, as three months of protest rallies have deterred visitors from the world’s most expensive shopping district, our SCMP reporters note. On the other hand, as questions are growing about Hong Kong’s future, new data shows that its role as the primary gateway for long-term international… Source link

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Stocks Blog: Traders look to more policy support after China data disappoints

Good day, traders — Several dozen small retailers in Hong Kong are likely to shut shop as soon as the end of this month due to plunging sales that could lead to thousands of lay-offs as protests frighten away tourists, Holly Chik reports. It can be eerie walking by empty shops but for clerks here in Hong Kong. The city reports its unemployment rate for August after market close.   We’ve got you covered on all the big moves and news in Hong Kong and mainland China markets. If you would like……

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Stocks Blog: China opens door to buying more US pork, agricultural products

Good day traders — It’s the start of the third full week of September, and what a great month it has been so far for the Hang Seng Index, which is up 6.3 per cent as of Friday’s close. Lots of news since markets closed for traders to weigh. On Friday after market close, China said it will exclude imports of US soybeans, pork and other farm goods from additional tariffs. That followed US president Donald Trump saying he would be open to a mini trade deal to get things…

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Stocks Blog: Trump team sends signal of possible interim trade deal with China

Happy Friday traders and Happy countdown to Mid-Autumn Festival! So Bloomberg is reporting that the Trump folks are looking at a China light deal in which some US tariffs would be rolled back in return for Beijing agreements on intellectual property and agricultural purchases. Politico says Trump’s advisers are looking for an “escape hatch” for tariffs increases set to go into effect in coming months. A trade deal has felt very stuck in the mud, but, maybe …  The surprise bid by the Hong… Source link

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Stocks Blog: Trump delays next China tariffs for two weeks as 'gesture of goodwill'

Good day, traders. Lots of news since market close for traders to digest.  On the trade front, US president Donald Trump delayed new China tariffs by two weeks as a “gesture of good will” because they were to start on October 1, when celebrations will be held for the 70th anniversary of the founding of the People’s Republic of China. The Hong Kong Exchanges and Clearing Limited (HKEX) has made a surprise takeover bid for London Stock Exchange Group (LSE). We’ll be watching all the top moves… Source link

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Stocks Blog: China gives foreign investors unfettered access to its stock markets, scraps investment quotas

Good day, traders. China took a big step Tuesday after mainland markets closed and scrapped two equity investment limits for foreigners, giving global traders unfettered access to the world’s second-largest capital market. We’ve got you covered on the major news and moves in mainland and Hong Kong markets. If you have any feedback about our blog, please send it to deb.price@scmp.com. And, due to a number of reader requests, we are doing an experiment and sending out the blog each day by… Source link

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Stocks Blog: Huge drop in tourist visits to Hong Kong weighs on investor sentiment

Good morning, traders — China inflation data comes out this morning. In Hong Kong, investors are still trying to figure out how to deal with ongoing protests and their fallout — including a huge drop in tourists. We’ve got you covered on the news and moves in mainland and Hong Kong markets. If you have any feedback or questions, please shoot them to deb.price@scmp.com. And if you would like to receive the blog each day via email, send a quick note to Deb. We’re trying this out due to… Source link

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Stocks Blog: China boosts liquidity, protesters set fire in heart of Hong Kong business district

Welcome to Monday, traders, our second week of September. The impact of protests on Hong Kong’s businesses and economy will continue to weigh on trading sentiment here. Overnight, a group of protesters set fire to the entrance of Central MTR station. Central, Wan Chai, Mong Kong and Prince Edward subway stations were closed, but were back open this morning. Meanwhile, on Friday, after China markets closed, the People’s Bank of China cut the cash reserve requirement for banks in the latest… Source link

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