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Hang Seng ends with tiny loss as normalcy returns to Hong Kong after huge protests

The Hang Seng Index closed slightly down while China shares eked out a tiny gain, as traders battled nerves over trade uncertainty while feeling excited about the official launch of a Nasdaq-style board on the mainland and a return of normalcy in Hong Kong after large protests.The Hang Seng fell 0.05 per cent to 27,294.71, crawling out of a morning hole in which lows were as deep as 1.6 per cent. In addition to trade, investors were focused on ongoing tension over a controversial proposal that… 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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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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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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Singapore 

Older owner of Ah Seng Durian gets 3 weeks’ jail, fine for tax-related offences, Singapore News

SINGAPORE – Shui Poh Sing, 60, who owns a business popularly known as Ah Seng Durian with his brother, was on Tuesday (May 7) sentenced to three weeks’ jail and fined $5,000 for evading taxes. He was also ordered to pay a penalty of $77,077.91. Shui and his brother Poh Chung, 57, had earlier pleaded guilty to not paying taxes, including failing to register for Goods and Services Tax (GST) when their revenue exceeded $1 million. The younger brother was fined $10,000 and ordered to pay a penalty of $46,303.14…

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Singapore 

Brothers of famous ‘Ah Seng Durian’ guilty of evading more than $160,000 in taxes over six years, Singapore News

Two brothers, who own a business in Ghim Moh popularly known as Ah Seng Durian, have been found guilty of not paying taxes, including not registering for Goods and Services Tax (GST) when their revenue exceeded $1 million. Shui Poh Sing, 60, and Shui Poh Chung, 57, had under-declared their income by about $708,000 for six years. As a result, they failed to pay an additional $161,604.62 to the taxman. On Friday (May 3), the younger Shui was fined $10,000 and ordered to pay a penalty of $46,303.14 by District…

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Shanghai ekes out a gain, while Hang Seng falls on day filled with jitters over global growth, trade

Hong Kong and China markets have got the jitters.The Shanghai Composite Index on Wednesday eked out the tiniest of gains – 0.1 per cent to 3,241.93 – on a day it struggled to climb out of a hole. Global growth concerns and escalating trade tensions also were felt in Hong Kong, which spent the day under water, though ended down just 0.1 per cent at 30,119.56.Overnight, the International Monetary Fund cut its global growth forecast to 3.3 per cent for this year, down from the 3.5 per cent it… Source…

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