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Stocks Blog: Are Hong Kong, China markets ready to keep the rally going?

Happy Friday, traders. Thursday saw some big gains in mainland markets, and Hong Kong had a healthy bounce. Markets were up overnight in the US. Meanwhile, China’s securities regulator is preparing to relax controls on mergers and acquisitions of listed companies that would open the door to backdoor listing on its start-up board of ChiNext. We will keep up on the latest action. If you have questions, please shoot them to deb.price@scmp.com . — Yujing Liu and Deb Price in Hong Kong      Source link

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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 

Share rally narrows in afternoon trade – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Investors at An Binh Securities Trading Floor. — VNA/VNS Photo Vietnamese markets had a good start on Monday thanks to the performance of large-cap stocks but momentum narrowed in the afternoon. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange rose 0.48 per cent to close at 962.90 points. On the southern exchange, 158 stocks advanced while 132 declined. Nearly 155 million shares were traded on the bourse, worth VNĐ3.8 trillion (US$164 million). The benchmark index lost 0.17 per cent last week. Insurance, stock brokerages, real estate, petroleum and mining,…

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Bitcoin tops US$8,000 as cryptocurrency’s rally gains momentum while US-China trade war talks reach an impasse

Bitcoin surged to more than US$8,000 late on Monday, its highest level since July last year, as the cryptocurrency’s rally gained further momentum.There is no real fundamental explanation as to why bitcoin, the original cryptocurrency, hit a 10-month high on Monday.But there is an ongoing blockchain and cryptocurrency conference in New York called Consensus, with big investors and influential market players gathered to network and discuss the current state of the industry. Bitcoin had also… Source link

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Vietnam 

VN stocks decline from a two-day rally – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An investor watches stock prices Tân Việt Securities. — VNS Photo Trương Vị HÀ NỘI – Vietnamese shares returned to negative territory after a two-day increase as investors looked for profits ahead of the national holidays. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange dropped 0.29 per cent to close at 974.13 points. The VN-Index had gained total 1.14 per cent in the previous two trading days. More than 149 million shares were traded on the southern bourse, worth nearly VNĐ3 trillion (US$127.6 million). Trading liquidity improved slightly compared…

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Chinese stocks’ world-beating rally risks losing momentum as Beijing rolls back stimulus

Chinese stocks’ world-beating rally is at risk of faltering, as a meeting of the Communist Party’s highest decision-making body signalled a tougher stance on further policy easing.After an almost 30 per cent surge that has made the Shanghai Composite Index the best-performing equity benchmark this year globally, the gauge slid the most in four weeks on Monday. A change of tone at the Politburo meeting rattled traders’ nerves, with top policymakers re-emphasising deleveraging and curbing asset… Source link

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Oil price extends rally in global energy markets as US stops waiving sanctions on any country that imports Iran’s oil

Oil extended gains after leaping to a six-month high on Monday as the US said it’ll no longer give any buyer of Iranian crude a waiver from sanctions aimed at cutting the Opec producer’s exports to zero.Futures in London added as much as 0.6 per cent, a day after US Secretary of State Mike Pompeo said any nation that continues to buy Iranian oil will face American sanctions. In response, the Islamic Republic threatened to shut the Strait of Hormuz, a key waterway for Middle East crude.Meanwhile… Source link

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Vietnam 

Market drops despite global rally – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Shares reversed at the end of the session on Tuesday, dropping due to selling pressure weighing down many large-caps, in contrast to the rally of the global market. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange was down 0.28 per cent, closing at 985.81 points. The southern market index rose 0.79 per cent on Monday. More than 236 million shares, worth VNĐ4.9 trillion (US$209 million), were traded on the southern bourse. The VN-Index in the morning extended gains,…

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China stocks post modest gains as market takes breather after huge two-day rally

Bears and bulls were locked in a tight battle in China’s stock markets on Tuesday following a huge, two-day rally on Friday and Monday.In mainland China, the Shanghai Composite Index swung between gains and losses before ending the day 0.2 per cent higher at 3,176.82. the gauge failed to breach the 3,200 level, but trading volume surged above 1 trillion yuan (US$145 billion) for a second straight day.In Hong Kong, early gains by the Hang Seng Index – a result of an overnight rally in US stocks … Source link

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Chinese stocks retreat from key 3,000 level as early rally in 5G sector gives way to sell-off in hemp, insurance companies

Chinese stocks retreated again from a key level on Thursday as an early rally in stocks linked to 5G mobile technology gave way to a sharp sell-off in industrial hemp-related companies and insurers that had reported disappointing results.The Shanghai Composite Index lost 0.9 per cent to 2,994.94, having held above the 3,000 threshold until the last 30 minutes of trading. The large-cap CSI 300 Index was down 0.4 per cent, and the Nasdaq-style Chinext Index shed 0.7 per cent.In Hong Kong, the… Source link

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