Latest news with #HangSengIndex
BusinessToday
a day ago
- Business
- BusinessToday
Hang Seng Ends Slightly Lower As Investors Lock In Gains After Recent Rally
The Hong Kong stock market edged lower on June 27, snapping a multi-day winning streak, as investors opted to take profits following a strong mid-week rally that pushed the Hang Seng Index to its highest level in over three months. The Hang Seng Index slipped 0.2% to close at 24,284, easing from June 25's peak of 24,475, its strongest finish since March. Despite the slight pullback, the index remains up for the week, buoyed by optimism surrounding regional economic resilience and continued demand in technology and financial sectors. Profit-taking emerged across several key sectors, with healthcare and biotech names such as Wuxi Biologics and Innovent Biologics among the notable laggards. Meanwhile, investor caution resurfaced amid renewed scrutiny of global interest rate trends and geopolitical developments. On the upside, Hong Kong's robust IPO pipeline continued to generate interest. According to exchange data, 31 IPOs have raised over HK$88 billion so far in 2025, already outpacing the full-year tally for 2024, underscoring renewed capital market confidence. Market sentiment remains cautiously constructive, supported by expectations that China will roll out further policy support and by speculation that the US Federal Reserve could ease rates later this year, and both factors that have helped lift investor risk appetite in Asia. Looking ahead, market participants will closely monitor upcoming economic data from China and the US, which could shape short-term direction as the Hang Seng consolidates near key resistance levels. Related
RTHK
2 days ago
- Business
- RTHK
HK stocks end down after week of strong gains
HK stocks end down after week of strong gains The Hang Seng Index ended for the day down 41.25 points, or 0.17 percent, at 24,284.15. File photo: RTHK Mainland Chinese and Hong Kong stocks edged lower on Friday but posted their strongest weekly gain in nearly two months, led by financial shares, as a ceasefire between Israel and Iran lifted investor sentiment. In Hong Kong, the benchmark Hang Seng Index ended for the day down 41.25 points, or 0.17 percent, at 24,284.15. On the mainland, the benchmark Shanghai Composite Index ended down 0.7 percent to 3,424.23. However, the Shenzhen Component Index closed 0.34 percent higher at 10,378.55. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, also closed higher by 0.47 percent at 2,124.34. Chinese brokerage stocks rallied sharply this week, buoyed by easing global geopolitical tensions and improved investor risk appetite, Morgan Stanley analysts said in a note. Over a six- to 12-month horizon, increased portfolio allocation to China appears likely, supported by improving market fundamentals and growing global investor demand for diversification, they said. Tianfeng Securities jumped up to 10 percent. The CSI 300 Index has risen 2 percent this week, the best weekly gain since May 5, while the Hang Seng Index advanced 3.2 percent, its strongest week since March 3. Onshore financial shares climbed nearly 3 percent this week. The United States has reached an agreement with China on how to expedite rare earth shipments to the United States, a White House official said amid efforts to end a trade war between the world's biggest economies. Shares of Xiaomi surged to a record high on Friday, after the company launched a new electric car model with a strong beat on pre-orders. But this has added pressure on other automakers, with Li Auto and Xpeng down 1.8 percent and 3.2 percent, respectively. Hong Kong's HSCI Materials Index and mainland's Non-Ferrous Metals Index rose 2.4 percent and 1.9 percent, respectively, as non-ferrous metal prices such as copper broadly rallied. (Reuters/Xinhua)
Business Recorder
2 days ago
- Automotive
- Business Recorder
China shares set for best week in seven months on financials boost, Mideast truce
SHANGHAI: China stocks were little changed on Friday but were set to notch their biggest weekly gain in more than seven months, led by financial shares, as a ceasefire between Israel and Iran lifted investor sentiment. China's blue-chip CSI 300 Index was flat by the lunch break, while the Shanghai Composite Index lost 0.2%. Hong Kong benchmark Hang Seng was down 0.1%. Chinese brokerage stocks rallied sharply this week, buoyed by easing global geopolitical tensions and improved investor risk appetite, Morgan Stanley analysts said in a note. Over a 6- to 12-month horizon, increased portfolio allocation to China appears likely, supported by improving market fundamentals and growing global investor demand for diversification, they said. Tianfeng Securities jumped 10% on Friday. The CSI 300 Index has risen 2.6% this week, on track for its strongest weekly gain since November 2024, while the Hang Seng Index advanced 3.3%, heading for its best week since March. Onshore financial shares climbed nearly 4% this week. China stocks retreat 7-month high following Mideast calm China's industrial profits swung back into sharp decline in May from a year earlier, as factory activity slowed in the face of broader economic stress. The United States has reached an agreement with China on how to expedite rare earth shipments to the U.S., a White House official said on Thursday, amid efforts to end a trade war between the world's biggest economies. Shares of Xiaomi surged to a record high on Friday, after the company launched a new electric car model with a strong beat on pre-orders. But this has added pressure on other auto makers, with Li Auto and Xpeng down 1.4% and 2.7%, respectively. Hong Kong's HSCI Materials Index and mainland's Non-Ferrous Metals Index rose 2.5% and 2.4%, respectively, as non-ferrous metal prices such as copper broadly rallied.
Business Times
3 days ago
- Business
- Business Times
Hong Kong's equity capital markets bounce back in first half, as Shein IPO looms
HONG Kong's equity capital markets activity roared back to life in the first half of 2025, driven by global investors sharpening focus on China as the city awaits the possible Shein initial public offering in the second half. Big ticket capital raisings and a rush of 'A to H' share deals, where companies already listed on mainland Chinese markets list in Hong Kong, helped revive flatlining markets and led to the strongest first half since 2021. Fast fashion giant Shein is working to list in Hong Kong before the end of the year, Reuters reported in May, citing sources with direct knowledge of the matter. A Shein listing would help Hong Kong re-establish its credibility as a global fundraising centre as a time of major volatility created by US trade policy changes. Hong Kong's Hang Seng Index is up 21.2 per cent year-to-date, making it one of the best performing major markets in the world, despite the tariff negotiations between China and the United States. 'The new era has come which is a more divided world - I think that's reality we are facing,' said James Wang, head of Asia ex-Japan equity capital markets at Goldman Sachs. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'Arguably, there are more investment opportunities. It's a structural change and there is going to be capital outflowing from the US and inflows into the Asian region.' Across Asia, including Japan, there was a 15.3 per cent increase in total equity issuance in the first half to US$116.2 billion, up from US$100.7 billion in the same period last year, according to LSEG data. There were US$12.8 billion of combined proceeds from IPOs and second listings in Hong Kong in the first half, up more than eight-fold on the same time last year, the data showed. But the US$2.9 billion raised from IPOs in Hong Kong during the half, while up from last year's US$1.7 billion, remained well below the US$8.5 billion raised on the Nasdaq in New York, according to LSEG data. Despite the Hang Seng's rally, investors remain nervous buying into IPOs as volatility continues to rack global markets. 'An A to H listing is like a follow on, there is a price benchmark, but for standalone IPOs where you don't have that price benchmark,' Wang said. 'The last round's valuation is not a benchmark. For people to feel comfortable to write a large ticket they need to get comfortable the market is there to support them, not just that they feel the valuation is OK.' Global investors buying back into China and participating in major deals like battery maker CATL's US$5.3 billion listing and electric vehicle makers Xiaomi and BYD raising a combined US$11 billion helped drive equity transactions, dealmakers said. 'Many global investors have reduced underweight positions and are taking advantage of capital market liquidity events to increase exposure,' said Sunil Dhupelia, JPMorgan's co-head of equity capital markets for Asia-Pacific. 'Engagement from global investors on our Hong Kong and mainland China pipeline is the highest it has been for some time,' he said. China in May cut benchmark lending rates for the first time since October as authorities worked to ease monetary policy to shield the economy from any Sino-US trade war impact. China's Premier Li Qiang said on Thursday the world's second-largest economy remains the biggest driving force for the global economy and that policymakers would take 'forceful steps' to boost domestic consumption. 'I think investors are also taking some comfort that China still has chips in their bag that they can play to support the market, such as supportive policy measures,' said Aaron Oh, UBS's head of equity capital markets for Asia Pacific. 'And China has shown resiliency thus far despite the global trade uncertainties.' Goldman Sachs topped Asia's equity capital market league tables in the first half, ahead of Morgan Stanley and JPMorgan, the LSEG data showed. REUTERS
Reuters
3 days ago
- Business
- Reuters
Hong Kong's equity capital markets bounce back in first half, as Shein IPO looms
June 27 (Reuters) - Hong Kong's equity capital markets activity roared back to life in the first half of 2025, driven by global investors sharpening focus on China as the city awaits the possible Shein initial public offering in the second half. Big ticket capital raisings and a rush of "A to H" share deals, where companies already listed on mainland Chinese markets list in Hong Kong, helped revive flatlining markets and led to the strongest first half since 2021. Fast fashion giant Shein is working to list in Hong Kong before the end of the year, Reuters reported in May, citing sources with direct knowledge of the matter. A Shein listing would help Hong Kong re-establish its credibility as a global fundraising centre as a time of major volatility created by U.S. trade policy changes. Hong Kong's Hang Seng Index (.HSI), opens new tab is up 21.2% year-to-date, making it one of the best performing major markets in the world, despite the tariff negotiations between China and the United States. "The new era has come which is a more divided world - I think that's reality we are facing," said James Wang, head of Asia ex-Japan equity capital markets at Goldman Sachs. "Arguably, there are more investment opportunities. It's a structural change and there is going to be capital outflowing from the U.S. and inflows into the Asian region." Across Asia, including Japan, there was a 15.3% increase in total equity issuance in the first half to $116.2 billion, up from $100.7 billion in the same period last year, according to LSEG data. There were $12.8 billion of combined proceeds from IPOs and second listings in Hong Kong in the first half, up more than eight-fold on the same time last year, the data showed. But the $2.9 billion raised from IPOs in Hong Kong during the half, while up from last year's $1.7 billion, remained well below the $8.5 billion raised on the Nasdaq in New York, according to LSEG data. Despite the Hang Seng's rally, investors remain nervous buying into IPOs as volatility continues to rack global markets. "An A to H listing is like a follow on, there is a price benchmark, but for standalone IPOs where you don't have that price benchmark," Wang said. "The last round's valuation is not a benchmark. For people to feel comfortable to write a large ticket they need to get comfortable the market is there to support them, not just that they feel the valuation is OK." Global investors buying back into China and participating in major deals like battery maker CATL's $5.3 billion listing and electric vehicle makers Xiaomi, opens new tab( opens new tab and BYD raising a combined $11 billion helped drive equity transactions, dealmakers said. "Many global investors have reduced underweight positions and are taking advantage of capital market liquidity events to increase exposure," said Sunil Dhupelia, JPMorgan's co-head of equity capital markets for Asia-Pacific. "Engagement from global investors on our Hong Kong and mainland China pipeline is the highest it has been for some time," he said. China in May cut benchmark lending rates for the first time since October as authorities worked to ease monetary policy to shield the economy from any Sino-U.S. trade war impact. China's Premier Li Qiang said on Thursday the world's second-largest economy remains the biggest driving force for the global economy and that policymakers would take "forceful steps" to boost domestic consumption. "I think investors are also taking some comfort that China still has chips in their bag that they can play to support the market, such as supportive policy measures," said Aaron Oh, UBS's head of equity capital markets for Asia Pacific. "And China has shown resiliency thus far despite the global trade uncertainties." Goldman Sachs (GS.N), opens new tab topped Asia's equity capital market league tables in the first half, ahead of Morgan Stanley (MS.N), opens new tab and JPMorgan (JPM.N), opens new tab, the LSEG data showed.
