| Hong kong Market Update Archive: |
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Inflation Worries Drives HK Trading
Apr 08, 9:24 AM EDT |
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| Commodities and energy related stocks gained in Hong Kong and Shanghai trading |
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| Hong Kong Stock indexes fell on resurgent fears of credit market losses that led financial stocks lower. Hang Seng Index fell 1.9% or 267.07 at 24,311.69, and China Enterprises Index fell 1.67% or 223.66 to 13,196.22. Rising commodities prices and weak dollar fueled the inflation worries in the region. China business climate index fell on severe weather condition in the first quarter. |
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HK and Shanghai Stocks Rise, Sinopec Earnings
Apr 07, 3:18 PM EDT |
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| Stocks in Hong Kong and in Shanghai rose on a rally in commodities stocks in the region. Copper, gold, and oil gained. |
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| Stocks in Hong Kong closed higher after a week of losses on a rise in commodities and earnings from Sinopec. In Hong Kong trading Hang Seng Index rose 1.29% or 314.13 at 24,578.76, and China Enterprises Index of Hong Kong-listed mainland companies, or H shares, edged up 2.15% or 282.31 at 13,419.88.Sinopec stock increased 2% after it reported 2007 net income rise of 5.5% on revenue gain of 13.4% on higher gas and oil revenue. In Shanghai trading CSI 300 advanced 5.34% or 195.12 at 3,845.82. |
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Shanghai and HK Gain
Apr 03, 9:55 AM EDT |
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| Stocks in Shanghai and Hong Kong gained on a rally in commodities and financial stocks. |
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| Rising commodities prices in the region and a second-day rally in financial stocks lifted Hang Seng index 1.6% to 24,264. Stocks in Shanghai rose 3%. ADB, Asian Development Bank estimated Hong Kong growth of 4.5% and inflation of 3.4% in 2008. Apartment sales in shanghai were healthy in March and are expected to remain strong in the first half of the year. |
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Global Rally Lifts Stocks in HK; Shanghai Falls
Apr 02, 8:16 AM EDT |
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| Hong Kong stocks track a rally in the US and European markets but trim some of its advances at close. Investors continue to sell stocks in Shanghai. |
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| Stocks in Hong Kong surged after a steep rise in the U.S. indexes and an increase in European stock markets. Hang Seng Index retreated from a 4.6% increase in the morning to close up 3.20% or 734.97 at 23,872.43, and the China Enterprises Index rose 4.7% to 12,807.35. In Shanghai, CSI 300 fell 1% to 3.547.98. Investors in China continue to dump stocks. Net redemptions in investment funds in China fell by Rmb 17 billion. |
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HK Stocks Advance, Shanghai Plunges
Apr 01, 9:20 AM EDT |
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| UBS said it plans to write-down $12 billion and is looking for a shareholder approval to raise at least $14 billion. |
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| Stocks in Hong Kong advanced tracking gains in international markets but stocks in Shanghai continue to fall. Shanghai stocks have suffered the most in the last five months of trading and retail investors are bearing most of the losses. Mainland investors are worried that Chinese government will not support the stock market. Fear of more declines is driving Shanghai stocks lower. |
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Banks in HK Decline
Mar 31, 9:26 AM EDT |
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| Dongfang Electrical lost 7% as company plans to offer 65 million class A new shares to fund its investment in 4 billion yuan power projects. |
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| Hang Seng fell 1.9% in Monday trading and declined 18% in the first quarter on rising inflation, falling dollar and worries related to global economic slowdown. Chinese Coking Industry Association forecasted higher coke price for the year as supply lags the rising demand. Financial stocks declined after analysts suggested that UBS may need to raise $16 billion in capital. |
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HK Stocks Close Up on Earnings
Mar 27, 8:57 AM EDT |
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| Earnings from Cheung Kong, Citic Bank, CNOOC and Hutchison surprised the market and lifted trading sentiment. |
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| Hong Kong closed higher after it reversed earlier losses on better than expected earnings from several companies. Banks and property companies led the gainers. In Hong Kong trading Hang Seng Index regained from a 0.21% slump in the morning session to close up 0.21% or 47.21 to 22,664.22. In Shanghai trading, the CSI Index fell 4.23% or 165.45 to 3,748.92. Cheung Kong, Citic Bank, CNOOC and Hutchison beat market expectations. |
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Wharf, BoChina Earnings Lift HK Stocks
Mar 26, 5:06 PM EDT |
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| Hang Seng index added 0.7% after earnings from Bank of China rose 14% and at Wharf increased 22%. |
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| Hong Kong surplus in the fourth quarter 2007 jumped to 78.3 billion and in the year rose to 114.5 billion or 7.1% of GDP. Higher tax receipts and rising property values played a key role in the surge. Hong Kong, earlier had proposed to lower personal taxes on low income families on the rising government receipts. ICBC net income surged 65% to Rmb 82.3 billion lifting bank stocks. Jiangxi Copper declied 2% after reporting 12% drop in 2007 profit. |
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Hang Seng Surges 6.4%
Mar 25, 2:08 PM EDT |
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| China Life reported investment of $300 million, its first foreign investment, in the recently listed credit card processor Visa. |
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| Stocks in Hong Kong surged after a revised bid for Bear Stearns and better than expected home sales in February lifted U.S. stocks. Hong Kong and Indian stock market averages led the rise in Asian markets. Hang Seng Index rose 6.43% or 1,356.30 to 22,464.52. After the close, ICBC reported a sharp rise in profit. Airline stocks gained on the speculation that newly elected government in Taiwan will open direct flight routes between the country and China. |
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Weak Metals, Oil Drag Asia Lower
Mar 20, 9:54 AM EDT |
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| Asian markets fell ahead of long weekend on weak prices of metals and crude oil. |
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| Asian markets fell in the region on weak metals and crude oil prices. Gold fell 3%, crude oil declined 2% and copper dropped 4% in the regional trading. The sharp drop in metal prices dragged mining companies in Australia, China, and Hong Kong trading. Japan, Markets in India, Indonesia, Malaysia, Pakistan, and Philippines were closed. China Mobile and PetroChina fell after the release of earnings. BHP and Rio Tinto plunged 7%. |
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