Latest news with #HangSengChinaEnterprises
RTHK
09-07-2025
- Business
- RTHK
HK stocks slip amid China factory deflation worries
HK stocks slip amid China factory deflation worries The Hang Seng Index ended down 255.75 points, or 1.06 percent, at 23,892.32 on Wednesday. File photo: RTHK Mainland stocks ended lower on Wednesday, wiping out all intraday gains, due to worries over deepening factory deflation as firms cut prices amid weak demand. In Hong Kong, the benchmark Hang Seng Index ended the day at 23,892.32, down 255.75 points or 1.06 percent. The Hang Seng China Enterprises index fell 1.28 percent to 8,597.27. Up north, the benchmark Shanghai Composite Index closed down 0.13 percent at 3,493.05 while the Shenzhen Component Index closed 0.06 percent lower at 10,581.80. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 0.16 percent to close at 2,184.67. China's producer deflation deepened to its worst level in almost two years in June as the economy grapples with uncertainty over a global trade war and subdued demand at home, piling pressure on policymakers to roll out more support measures. "Combined with the persistently negative GDP deflator, deflation remains a concern," said Lynn Song, chief economist for Greater China at ING. Citi analysts said in a note that they remain "cautious on the inflation trajectory while waiting for more policy actions". They added that further guidance from the upcoming Chinese Communist Party politburo meeting and action plans from the State Council and state planner could be worth monitoring. On the trade front, US President Donald Trump said said he would impose a 50 percent tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals, broadening his trade war that has rattled markets worldwide. Trump also said trade talks have been going well with the European Union and China, though he added he is only days away from sending a tariff letter to the former. "We have had a really good relationship with China lately, and we're getting along with them very well. They've been very fair on our trade deal, honestly," Trump said, adding that he has been speaking regularly with President Xi Jinping. "It may boost market sentiment in the short term," said Deng Lijun, analyst, Huajin Securities. "The new wave of tariff increases did not involve China, and the United States had lifted export restrictions to China for chip design software developers and ethane, and Sino-U.S. trade tensions have eased in the short term," Deng said, adding that risk appetite for A-shares may rebound once Beijing and Washington reach a tariff deal. Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.42 percent, while Japan's Nikkei index closed up 0.33 percent. (Reuters/Xinhua)
RTHK
04-07-2025
- Business
- RTHK
HK stocks end down as Shanghai edges up to a high
HK stocks end down as Shanghai edges up to a high The Hang Seng Index closes below 24,000 on Friday. File photo: RTHK Mainland stocks edged higher on Friday, with the benchmark Shanghai index ending at a nine-month high on fresh signs of easing Sino-US trade tensions, while Hong Kong shares slipped. The benchmark Hang Seng Index ended the day at 23,916.06, down 153.88 points or 0.64 percent while the Hang Seng China Enterprises index fell 0.45 percent to 8,609.27. On the mainland, the benchmark Shanghai Composite Index ended up 0.32 percent at 3,472.32, the highest closing since October 8, while the Shenzhen Component Index closed 0.25 percent lower at 10,508.76. The combined turnover of these two indices stood at 1.43 trillion yuan, up from 1.31 trillion yuan on the previous trading day. Shares in the gaming, banking and power sectors led the gains, while those related to solid-state battery, beauty care and non-ferrous metals suffered the most. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 0.36 percent to close at 2,156.23. The banking sector was among the top gainers, with a sub-index tracking the industry closing 1.86 percent higher at a record high. The sub-index gained 3.81 percent for the week. The steel sector also outperformed after China's top leaders pledged to tighten oversight of aggressive price-cutting by domestic firms, as the economy grapples with persistent deflationary pressures. The CSI steel sub-index gained 0.58 percent. "It could be a prelude to potential supply side reform 2.0, in our view," Citi analysts said. "We see the prolonged producer price index deflation and profitability concerns as the motives this time. Steady growth so far this year has also opened room for such an initiative." Citi identified sectors where reform is most urgently needed: ferrous-metal processing (mostly steel), fuel processing, chemicals, non-mineral products (including cement, glass) and metal products. The mainland gains came as the United States told GE Aerospace it can restart jet engine shipments to China's Comac, a source said. The United States has also lifted restrictions on exports to China for chip design software developers and ethane producers. Meanwhile, China is reviewing and approving export licences for controlled items and has been informed by the United States about cancellations of "restrictive measures" against Beijing, the Commerce Ministry in Beijing said. (Reuters/Xinhua)
RTHK
04-07-2025
- Business
- RTHK
HK stocks end down as Shanghai edges up to a high
HK stocks end down as Shanghai edges up to a high The Hang Seng Index closes below 24,000 on Friday. File photo: RTHK Mainland stocks edged higher on Friday, with the benchmark Shanghai index ending at a nine-month high on fresh signs of easing Sino-US trade tensions, while Hong Kong shares slipped. The benchmark Hang Seng Index ended the day at 23,916.06, down 153.88 points or 0.64 percent while the Hang Seng China Enterprises index fell 0.45 percent to 8,609.27. On the mainland, the benchmark Shanghai Composite Index ended up 0.32 percent at 3,472.32, the highest closing since October 8, while the Shenzhen Component Index closed 0.25 percent lower at 10,508.76. The combined turnover of these two indices stood at 1.43 trillion yuan, up from 1.31 trillion yuan on the previous trading day. Shares in the gaming, banking and power sectors led the gains, while those related to solid-state battery, beauty care and non-ferrous metals suffered the most. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 0.36 percent to close at 2,156.23. The banking sector was among the top gainers, with a sub-index tracking the industry closing 1.86 percent higher at a record high. The sub-index gained 3.81 percent for the week. The steel sector also outperformed after China's top leaders pledged to tighten oversight of aggressive price-cutting by domestic firms, as the economy grapples with persistent deflationary pressures. The CSI steel sub-index gained 0.58 percent. "It could be a prelude to potential supply side reform 2.0, in our view," Citi analysts said. "We see the prolonged producer price index deflation and profitability concerns as the motives this time. Steady growth so far this year has also opened room for such an initiative." Citi identified sectors where reform is most urgently needed: ferrous-metal processing (mostly steel), fuel processing, chemicals, non-mineral products (including cement, glass) and metal products. The mainland gains came as the United States told GE Aerospace it can restart jet engine shipments to China's Comac, a source said. The United States has also lifted restrictions on exports to China for chip design software developers and ethane producers. Meanwhile, China is reviewing and approving export licences for controlled items and has been informed by the United States about cancellations of "restrictive measures" against Beijing, the Commerce Ministry in Beijing said. (Reuters/Xinhua)
Business Recorder
26-06-2025
- Business
- Business Recorder
China stocks closes at six-month high as ME truce lifts sentiment
SHANGHAI: Shanghai stocks closed at a more-than-six-month high on Wednesday, while Hong Kong ended at its loftiest since March, boosted by a ceasefire between Israel and Iran, as well as some hopes of an earlier-than-expected US Federal Reserve rate cut. The ceasefire brokered by US President Donald Trump between Iran and Israel appeared to be holding on Wednesday, a day after both countries signalled that their air war had ended, at least for now. 'Tensions between Iran-Israel will be eyed as financial markets remain hopeful that a delicate ceasefire between the two nations would hold,' analysts at UOB said in a note. At the close, the Shanghai Composite index was up 1.04% at 3,455.97 points, the highest close since December 12, 2024. The blue-chip CSI300 index was up 1.44% at 3,960.07 points, the highest closing level since March 20. The smaller Shenzhen index ended up 1.41% and the start-up board ChiNext Composite index was higher by 3.113%. Brokerage shares led the gains, with CSI securities sub-index rallying 5.48%. Defence shares were also among top winners, with the sub-index jumping 3.68%. Meanwhile, China's Premier Li Qiang said on Wednesday that he was confident the country could maintain a 'relatively rapid growth rate' and transition from a manufacturing-led economy to a consumer-driven one. In Hong Kong, the Hang Seng index was up 1.23% at 24,474.67 points, the highest closing level since March 19. The Hang Seng China Enterprises index rose 1.13% to 8,859.29 points. Separately, Fed Chair Jerome Powell said on Tuesday that higher tariffs could begin raising inflation this summer, a period that will be key to the US central bank considering possible interest rate cuts. 'While Powell reiterated the message that Fed need not rush to cut, he did suggest that the Fed may cut rates sooner rather than later if inflation pressures remain contained,' OCBC analysts said in a note. 'But he was careful in not committing to a timeline.' Fed rate cuts could aid Hong Kong stocks as they are closely tied to global monetary policy shifts.
Economic Times
13-06-2025
- Business
- Economic Times
China, Hong Kong stocks end lower as Israeli strikes on Iran weigh on risk assets
Mainland China and Hong Kong stocks slipped on Friday, mirroring losses across regional markets, as investors rushed toward safe-haven assets in response to Israeli strikes on Iran that escalated tensions in the Middle East. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mainland China and Hong Kong stocks slipped on Friday, mirroring losses across regional markets, as investors rushed toward safe-haven assets in response to Israeli strikes on Iran that escalated tensions in the Middle launched strikes against Iran on Friday, saying it targeted nuclear facilities, ballistic missile factories and military commanders during the start of a prolonged operation to prevent Tehran from building an atomic weapon.** At the close, the Shanghai Composite index ended 0.75% lower at 3,377.00 points, while the blue-chip CSI300 index dropped 0.72% to 3,864.18 points.** The smaller Shenzhen index ended down 1.32% and the start-up board ChiNext Composite index was weaker by 1.13%.** In Hong Kong, the benchmark Hang Seng index dropped 0.59% to 23,892.56 points, while the Hang Seng China Enterprises index fell 0.85% to 8,655.33 points.** However, the risk-off sentiment lifted gold and miners' shares , with key performers including Western Region Gold Co , Shandong Gold Mining Co, and Zhongjin Gold Corp all closing more than 2% higher.** China's defense sub-index closed up 1.7%.** Oil and gas shares were another outperformer, with a sub-index jumping 2.02%.** Safe-haven demand for the U.S. dollar also pressured the yuan, with the onshore spot price weakening 0.14% to 7.1815 per dollar around 0800 GMT.* Major Chinese stock indexes appeared poised for a weekly decline, despite the recent trade truce between Washington and Beijing easing the risk of further tariff escalation in the near term.** "While geopolitical tensions (between the United States and China) may have temporarily deescalated, China's macroeconomic outlook remains fragile," BCA Research said in a note."As a result, without a decisive policy boost, Chinese equities lack any catalyst to trend higher."** Both the SSEC and CSI300 indexes fell 0.25% for the week, booking their third weekly loss in four weeks.
