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Hang Seng Index is world’s worst performer this week as political turmoil takes toll on economy

Hong Kong stocks ended the week as the world’s worst-performing major equity market after concerns heightened that the political unrest has already taken a heavy toll on the city’s economy.The Hang Seng Index dropped 3.4 per cent for the week, delivering the steepest decline among the world’s major benchmarks. It slipped 0.1 per cent to 26,435.67 on Friday.The protests, which started in June because of Hongkongers’ opposition to the now shelved extradition bill, have already weighed on retail… Source link

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Hong Kong’s ‘unwise policies’ fuelled protests, unrest in city, Hang Lung Properties chairman Ronnie Chan says

Hang Lung Properties chairman Ronnie Chan Chi-chung said the “unwise policies” of Hong Kong’s government had contributed to an atmosphere that sparked protests and civil unrest and are now threatening the city’s business community.Chan said the unrest “cannot but negatively affect business” and reduce “confidence among the international business community”.“In the past month and a half, the city has erupted into a tumultuous place. It was the result of unwise policies made locally and not… Source link

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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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Hang Seng ekes out teensy gain as protests weigh on sentiment; China indexes down on deflationary data

China stocks slipped as the nation’s producer price index fell further into deflation, underscoring how the trade war with the US continues to be a drag on growth of the world’s second largest economy.In Hong Kong, the Hang Seng Index eked out the teeniest of gains, as uncertainty about a resolution to end the three-month long protests continues to sideline investors. The Hang Seng closed at 26,683.68, higher by less than 0.1 per cent.The jewellery and watch making sector was the top losing… Source link

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With any luck, Hong Kong’s ninja protesters will hang up their masks and the summer of discontent will pass

For those of us confounded and stressed by the convolutions roiling the streets of Hong Kong over the past months, I offer one small but important source of comfort: Brexit. Hong Kong’s awesome street protests (I can think of no other city in the world whose compactness and excellent transport infrastructure would make it possible for so many hundreds of thousands of people to surge as fluidly across the length of the city as we are seeing daily in Hong Kong), its ninja demonstrators acting… Source link

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Hong Kong’s Hang Seng surges on SCMP report city leader Carrie Lam plans to formally withdraw extradition bill

Hong Kong’s battered stock market surged Wednesday on a South China Morning News report that chief executive Carrie Lam plans to formally withdraw the controversial extradition bill that has hammered local businesses and raised questions about the future of the city as an international financial centre.The Hang Seng Index closed up 3.9 per cent, at 26,523.23, after shooting up as much as 4.35 per cent. That was its biggest daily gain in 10 months. On November 2, the HSI gained 4.2 per cent, or… Source link

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Hong Kong’s Hang Seng extends losing streak to second day amid uncertainty over trade war, end to protests

Hong Kong’s Hang Seng Index had another weak day, with investors selling off consumer staples and state-owned financial companies as uncertainty lingered over trade talks and Beijing sent a fresh warning about the city’s ongoing protests.The Hang Seng Index on Tuesday closed 0.4 per cent lower at 25,527.9, marking its second straight session of losses.The biggest losers included Geely Automobile, which closed lower by 3 per cent lower at HK$11.7. Mengniu Dairy closed 2.1 per cent lower at HK$30… Source link

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Stocks Blog: Concerns about trade talks, protests likely to continue to weigh on Hang Seng

Good day, traders — Well, the buzz is that Washington and Beijing aren’t finding it easy to set up their next trade talk meetings. That after both sides set into motion new tariffs on Sunday. Meanwhile, on the protest front, Reuters got hold of a recording of Hong Kong leader Carrie Lam telling businesspeople she’d quit, if she could, and said her “political room for maneuvering is very, very, very limited.” So, it sure doesn’t look like a big breakthrough to end the protests is near. The… Source link

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Chinese investors buy the dips even as Hang Seng Index ends August as world’s worst performer

Mainland investors are unfazed by the downbeat mood clouding Hong Kong’s stocks – the worst performer among the world’s major markets this month.While the Hang Seng Index dropped 7.4 per cent in August amid civic unrest rattling the city and escalating US-China trade tension, mainland traders have been buying the stocks for 31 straight days through Friday. The buying binge matched the last such stretch in February last year.Over the past six weeks, Chinese investors have spent a total of HK$70… Source link

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AIA, China Life propel Hang Seng Index to its best weekly finish in over two months

Hong Kong and China stocks rose on Friday to finish their best week in over two months, as investors were encouraged by a mix of positive factors including China’s monetary easing and upbeat earnings from insurers.The Hang Seng Index rose 0.5 per cent to close at 26,179.33. The benchmark gained 1.7 per cent this week, recording its best weekly performance in nine weeks.The Shanghai Composite added 0.5 per cent to 2,897.42, bringing its gains this week to 2.6 per cent, which is also its largest… Source link

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