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Hang Seng Index drops by the most in five weeks as Hong Kong’s biggest protest rally in decades finds city on edge

Hong Kong stocks fell by the most in five weeks, as traders pocketed their profits from a recent run-up in prices after the city’s police fired tear gas on demonstrators protesting a controversial extradition proposal.The Hang Seng Index fell 1.7 per cent to 27,308.46, its biggest daily decline since a 2.4 per cent plunge on May 9 amid escalating tensions between the United States and China over trade.“The main issue the market is facing is still the Sino-US trade tussle. We have not seen the… Source link

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Vietnam 

VN to lift Cross-border Trade Transaction index – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Goods are unloaded at Hải Phòng Port in Hải Phòng City. — Photo thoibaotaichinhvietnam.vn HÀ NỘI — Việt Nam plans to raise the cross-border trade transaction index by 3-5 places this year compared to 2018. By 2020, it targets to raise the cross-border trade transaction index by 10-15 places compared to 2018. Minister of Finance Đinh Tiến Dũng issued Decision 876/QĐ-BTC, promulgating the plan to improve Việt Nam’s cross-border trade transaction index in the period 2019-21. In order to achieve this goal, the Ministry of Finance will chair and co-ordinate…

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Hang Seng Index thuds to a four-month low, as May sees index rattled for 9.4 per cent loss

Hong Kong and China equity indexes ended May trade with respective monthly losses, led lower by the sustained selling in the mainland’s blue chip CSI 300 index, which posted a loss of 7.24 per cent for the period as investors fretted that the escalation of the US-China trade war could spin the world into a recession.The Hang Seng Index closed out Friday trade down 0.79 per cent or 213.79 points at 26,901.09. The level was its lowest since mid-January, dragging its loss for May to 9.42 per cent… Source link

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China 

China manufacturing index crashes into negative territory in May as economic pressures mount

China’s manufacturing purchasing managers’ index fell further in May, suggesting the economy is continuing to slow amid the escalating trade war with the United States.The manufacturing purchasing managers’ index (PMI), a gauge of sentiment among factory operators, fell to 49.4 in May, a decrease on April’s performance of 50.1, and well below the median expectations of a poll of Bloomberg analysts, which had predicted a drop to 49.9. A reading of below 50 means that the activity in the sector… Source link

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Shanghai ends seven-day losing streak while Hang Seng Index falls on thin trading

Mainland stocks posted solid gains while Hong Kong’s Hang Seng Index finished lower on thin trading, as China traders hoped for additional stimulus measures from Beijing.All leading Chinese benchmarks ended higher on Monday, with the Shanghai Composite Index up 1.38 per cent, or 39.38 points at 2,892.38. The CSI 300, which tracks blue chips listed in both Shanghai and Shenzhen bourse, also rose 1.21 per cent, 43.29 points, at 3,637.2.Traders shrugged off China’s industrial profit report for… Source link

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Hang Seng Indexes launches two new ESG benchmarks, expands Greater Bay Area Index series tracking innovative firms

Hang Seng Indexeson Tuesday launched two new indices tracking the environmental, social and corporate governance performance of listed companies, expanding its portfolio of benchmarks for investors interested in socially responsible investment strategies.It also launched a third index that tracks innovative companies in the Greater Bay Area.The wholly-owned subsidiary of Hang Seng Bank manages and compiles gauges covering stocks and bonds listed in Hong Kong and mainland China markets,The HSI… 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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China ‘Snow’ beer maker among five new entrants to China Enterprises Index from June 17

China’s largest beer maker is among five new constituent stocks that will join the Hang Seng China Enterprises Index from June 17, compiler Hang Seng Indexes said on Friday as part of its quarterly review.The incoming constituents include China Resources Beer (Holdings) which sells“Snow” brand beer, mainland property developers Longfor Group and Country Garden Holdings, as well as ANTA Sports Products, which is the largest mainland sportswear company, and ENN Energy Holdings.Among the new… 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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Shanghai share index rallies to 12-month high following quarterly economic data indicating growth upswing

China’s stocks climbed for a second day, sending the benchmark gauge to a one-year high, as the economy grew at a pace topping analysts’ estimates, strengthening evidence of a firmer recovery in full swing.The Shanghai Composite Index rose 0.3 per cent, or 9.52 points, to 3,263.12 at the close on Wednesday, finishing at the highest level since March 22, 2018. Carmakers paced the gains on expectations that the government will unveil plans that will ease license controls and encourage the… Source link

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