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China stocks rise to 13-month high, as China Life’s earnings forecast brightens outlook

China’s stocks rose on Friday, with the benchmark reaching a 13-month high, as a profit forecast from bellwether China Life Insurance spurred optimism that corporate earnings growth will pick up.The Shanghai Composite Index closed 0.6 per cent higher, reflecting its highest level since March 21, 2018 and capped a weekly gain of 2.6 per cent. The CSI 300 Index of big-caps gained 1.2 per cent. Hong Kong’s market was shut for an extended holiday and will reopen on Tuesday.With China reporting… Source link

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Stocks Blog: China stocks head for weekly gain as 1Q earnings season kicks off

Happy Friday, traders. Hong Kong markets are closed and will reopen Tuesday due to the Good Friday and Easter Monday holidays, meaning no stock connect trading as well as no trading on the city’s exchange. But there will be plenty of action on China’s markets that we will cover for  you. So come back and visit us throughout the day. Please send any questions to deb.price@scmp.com . — Zhang Shidong in Shanghai and Deb Price in Hong Kong. Source link

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Stocks Blog: Flood of earnings coming for traders

Skittish. That pretty much describes traders this week, especially in Shanghai, where the main benchmark got clobbered in back-to-back days before gaining 0.9 per cent Wednesday. Only two trading days left in the first quarter, with the Shanghai Composite Index up 21 per cent and the Hang Seng Index up 11 percent so far this year.  Japan and South Korea opened lower, and futures point to slim losses at the open in Hong Kong.  More earnings to look out for today, including from two of China’s… Source link

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Stocks Blog: China Vanke gets ready to report in big earnings week

Welcome to the first trading day of the last week of the first quarter. It’s been quite a quarter. The Hang Seng Index is up 12.6 per cent for the year, while the Shanghai Composite Index galloped into a bull market and is now ahead by nearly 25 per cent for 2019. Both are showing signs of fatigue, though. The Hang Seng can’t break through the resistance level of 30,000 (it closed at 29,113 on Friday). The Shanghai Composite Index flirted with its resistance level of 3,100 on Friday, closing……

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Geely sees speed bumps ahead as its car sales and earnings sputter while China’s economic engine loses power

Geely Automobile Holdings, whose founder Li Shufu is the largest single shareholder of Daimler, said sales of its portfolio of brands including Lynk and Volvo are likely to remain flat this year in China, as economic growth slows down in the world’s largest vehicle market.The Zhejiang-based carmaker sold 44 per cent fewer vehicles in December, causing Geely to miss its 2018 sales target by 5 per cent.Car sales in China sputtered last year, as three decades of double-digit percentage growth… Source link

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Stocks Blog: Traders await Tencent's earnings after heaven-to-hell 2018

Happy Thursday! And welcome to the second day of the new 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.) In Hong Kong today, it’s… Source link

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Hong Kong-listed developer Shui On reports drop in earnings for 2018 and slashes sales target for this year

Hong Kong-listed property developer Shui On Land reported on Wednesday that its core earnings had dropped by 3 per cent to 3.06 billion yuan (US$457.09 million) for the year ending December 31, 2018.The company, which has the second-largest commercial property portfolio in Shanghai, said its revenue had jumped by 35 per cent to 24.84 billion yuan for the year, and that it would pay a final dividend of 8.4 Hong Kong cents, an increase of 20 per cent year on year.Vincent Lo Hong-sui, Shui On’s… Source link

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Three Hong Kong-listed Chinese developers disappoint investors as earnings miss estimates

Three Hong Kong-listed Chinese developers that released their 2018 results on Wednesday missed expectations because of lower-than-expected revenue booking.China Overseas Land & Investment (COLI), the second-largest Hong Kong-traded Chinese developer by market capitalisation, posted an 8.3 per cent increase in core profit while revenue grew just 3.25 per cent.The HK$37.1 billion (US$4.7 billion) core profit missed analysts’ average estimate of HK$39.8 billion polled by Bloomberg, and the HK$171… Source link

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Tencent clawing its way back from cliffhanger year, winning rave analyst reviews ahead of earnings

With the nail-biting heroics of one of its video games, Tencent has seen its shares hit an all-time high, slide off a cliff, then claw themselves halfway back up – all in a matter of 14 months.Now – with new Tencent games approved to slowly roll out again after China’s industry-wide crackdown and a blizzard of new tech deals added to its huge investment portfolio – the online giant is attracting rave reviews from analysts ahead its fourth-quarter and annual results on Thursday evening Hong Kong… Source link

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China’s biggest developer, Country Garden, sees 2018 core profit beat estimates, but analysts are not convinced about future earnings

Country Garden Holdings, China’s biggest property developer by sales, has reported profit slightly ahead of estimates, though analysts said they are worried about its ability to continue to deliver.The Guangdong-based builder’s net profit attributable to shareholders, known as core profit, rose 32.8 per cent last year to 34.6 billion yuan (US$5.15 billion). That just beat the average estimate of 33.8 billion among analysts polled by Bloomberg, but was a far cry from the 126 per cent spike seen… Source link

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