Hang Seng Dips 1.2% at Close

 

PT Rifan Financindo Berjangka - The Hang Seng tumbled 236 points or 1.2% to end at 19,367 on Thursday, marking the first decline in three sessions amid escalating trade disputes between China and the US.

The Biden administration reportedly may introduce fresh curbs on sales of semiconductor equipment and AI memory chips to China next week. Meanwhile, US President-elect Trump's trade policies and their potential impacts remain uncertain, with China's state media warning of possibly severe repercussions.

In business news, media reports said BYD Co. and other Chinese automakers urged suppliers to cut prices, signaling heightened price competition.

Limiting further drops were hopes of significant support measures from Beijing for this year and next to mitigate global headwinds and stimulate economic growth.

Losses were broad-based, with consumers, tech, and property among the top losers. Some lagging stocks included Giant Biogene Hlds. (-6.5%), Akeso Inc. (-5.4%), H World Group (-4.2%), and China Resources Beer (-4.1%). PT Rifan Financindo Berjangka.

Source: Trading Economics

Hang Seng Surge Over 2% at Finish

 

PT Rifan Financindo Berjangka - The Hang Seng soared 444 points or 2.3% to close at 19,603 on Wednesday, gaining for the second day amid mounting optimism about potential supportive policies from China to counter tariff risks.

Traders showed increased confidence that the PBoC may further cut RRR in December to spur economic recovery in China, after two reductions totaling 100bps in September and February.

A positive lead from Wall Street Tuesday also enhanced risk appetite, ahead of the US PCE index and indications of further interest rate cuts as Fed officials seemed comfortable with the pace of inflation.

Meanwhile, industrial profits in the mainland fell 10.0% yoy in October, much slower than the prior 27.1% plunge. Investors now anticipate official PMI data in China, set to be released over the weekend.

Gains were broad-based, with robust performance from all sectors. Meituan jumped (7.6%), followed by Chow Tai Fook Jewellery (6.1%), Techtronic Inds. (5.2%), Semicon Manufacturing (3.9%), and Xiaomi Corp. (3.7%). PT Rifan Financindo Berjangka.

Source: Trading Economics

Hang Seng Muted at Finish

 

PT Rifan Financindo Berjangka - The Hang Seng ended nearly flat at around 19,159 on Tuesday following weakness in the prior three sessions, with gains in property and financials offsetting losses in tech and consumers.

Investors parsed reports that US President-elect Donald Trump plans to impose an additional 10% tariff on all Chinese goods entering the US. Meanwhile, Chinese Embassy officials in the US warned that a trade war between the two countries would have no winners. On economic data, October trade figures in Hong Kong are due later today, after exports and imports hit a two-year high in September.

On the monetary front, the PBoC could cut commercial bank's RRR in December to boost the Chinese economy, following two reductions in September and February, totaling 100 bps. Governor Pan Gongsheng indicated this potential move in October.

Among large-cap stocks, Alibaba Health and Cathay Pacific Airways rose 3.1% and 2.3%, respectively, while Xiaomi Corp. (-4.2%) and Kingsoft Corp. (-3.8%) saw notable declines. PT Rifan Financindo Berjangka.

Source : Trading Economics

Hang Seng Retreats for 3rd Session

 

PT Rifan Financindo Berjangka - The Hang Seng fell 79 points, or 0.4%, to close at 19,151 on Monday, marking its third session of declines and holding at a two-month low amid losses across most sectors. Traders remained reluctant to enter fresh positions as markets in China extended their decline to a three-week low, with the Biden administration set to announce new export curbs on China this week.

The new regulations could add up to 200 Chinese chip companies to the list of trade restrictions. Meanwhile, concerns about a weak recovery in China resurfaced ahead of official PMI and industrial earnings data this week. Capping the bearish mood was a report that China and Germany were close to reaching a solution on tariffs on Chinese EV imports into the bloc. Meanwhile, U.S. futures rose, with investors expecting Trump’s pick for Treasury Secretary, Scott Bessent, to focus on economic and market stability. Among the big-cap losers were KE Holdings (-5.6%), Meituan (-2.7%), Sands China (-2.6%), and Tencent Hlds. (-1.5%). PT Rifan Financindo Berjangka.

Source: Trading Economics

Hong Kong Shares Fall But Heads for Gains Weekly

 

PT Rifan Financindo Berjangka - The stock market in Hong Kong slipped 74 points or 0.4% to 19,527 in early deals on Friday, marking the second session of decline amid losses in most sectors, notably property and financials.

Still, the Hang Seng is on track to end the week on an upbeat note, with a gain of around 0.5% so far, following a steep drop in the prior period, supported by hopes for significant fiscal measures in China next year as Beijing seeks to mitigate the potential impact of US tariff hikes under the second Trump administration. PT Rifan Financindo Berjangka.

Source: Trading Economics

Hang Seng Ends 0.5% Lower

 

PT Rifan Financindo Berjangka - The Hang Seng fell by 104 points or 0.5% to close at 19,601 on Thursday after a slight gain in the previous session, dragged by a modest drop in US futures following Nvidia's earnings forecast which fell short of some investors' high expectations.

Meantime, Goldman Sachs analysts noted a clear shift in the macro environment post-US election, with a stronger dollar posing headwinds for Asian equities.

Still, losses were mitigated by hopes that Beijing might adopt stronger fiscal policies next year to counter the impact of Trump's tariffs on Chinese exports. All sectors declined, with tech and property among the top losers.

Kuaishou Tech tumbled 1.8% due to concerns about future profit growth, while Alibaba Pictures slipped 8.4% on lower profits in H1 of 2024. Other major losers included Yadea Group (-5.2%), Chow Tai Fook Jewellery (-4.2%), and KE Holdings (-2.8%). Traders now await Hong Kong's inflation data, due later today, after the September figure reached a three-month low of 2.2%. PT Rifan Financindo Berjangka.

Source: Trading Economics

Hang Seng Reversing Early Losses, Ending Higher

PT Rifan Financindo Berjangka - The Hang Seng rose 41 points, or 0.2%, to close at 19,705 on Wednesday, reversing an early decline and ending in the green for a third day amid gains across most sectors, led by property and technology.

Sentiment improved after China’s central bank kept its main lending rate at a record low during its monthly setting, following rate cuts in October and July.

In addition, U.S. futures were significantly higher as traders anticipated Nvidia earnings, upcoming speeches by Fed officials and Donald Trump’s political appointments, particularly for Treasury Secretary.

Capping the gains was data from Bloomberg News that 35 Hong Kong-listed companies have reported quarterly results, with average earnings up 0.1% from a year earlier, compared with a 7.3% increase in the previous quarter.

Among the gainers were pharmaceutical stocks, including Innovent Biologics (7.7%), Sino Biopharmaceutical (4.3%), and Hansoh Pharmaceutical (4.2%). Other companies that also recorded significant increases were Akeso Inc. (7.9%) and Smoore Holdings (6.4%). PT Rifan Financindo Berjangka.

Source: Trading Economics