Hang Seng Ends 0.2% Lower

 

PT Rifan Financindo Berjangka - The Hang Seng fell 49 points, or 0.24%, to close at 20,041 on Monday, following a lackluster performance in the previous session. Losses were led by the technology, property and consumer discretionary sectors as traders remained cautious ahead of China’s official PMI data for December, due for release on Tuesday. China’s economic recovery remained uneven in November, with factory activity expanding for a second month while the services sector stagnated.

Meanwhile, U.S. futures plunged as Wall Street prepared for the final trading week of 2024, amid rising U.S. Treasury yields and concerns over the potential for more limited interest rate cuts in 2025. Limiting further declines were remarks by PBOC Governor Pan Gongsheng, who noted that the weighted average RRR for Chinese banks was around 6.6% after recent RRR cuts, leaving “some room” compared with central banks in major economies. The most prominent were Sands China (-5.3%), Trip.Com (-3.8%), Lenovo Group (-3.4%), Geely Auto (-2.3%), and Li Auto (-1.9%). PT Rifan Financindo Berjangka.

Source: Trading Economics

Hang Seng Rises Near 2% This Week

 

PT Rifan Financindo Berjangka - The Hang Seng Index closed almost flat at 20,096 on Friday (12/27) after rising in the previous two sessions, with gains in the technology, property and consumer discretionary sectors offsetting losses in the financial sector. Traders digested a report that the World Bank raised its forecast for China’s economic growth to 4.9% in 2024 and 4.5% in 2025 but warned of challenges such as weak demand, weak consumer sentiment and high local government debt.

Meanwhile, the latest data showed that China’s industrial profits fell 4.7% year-on-year in the first 11 months of this year, sharply higher than the 4.3% decline in the previous period, due to a decline in profits from both public and private companies. Separately, China revised its 2023 GDP down by 2.7% to CNY129.4 trillion, without providing details. On Wall Street, trading was subdued on Thursday due to the holiday mood. Still, the index rose 1.9% on the week, boosted by expectations of strong fiscal spending in China in 2025. Lenovo Group (9.2%) and Li Auto (6.0%) rose, while Nongfu Spring (-4.0%) and Haidilao Intl. (-3.4%) fell. PT Rifan Financindo Berjangka.

Source: Trading Economics

Hang Seng Rises 0.8% at Finish

 

PT Rifan Financindo Berjangka - The Hang Seng climbed 162 points or 0.8% to close at 19,883 on Monday, halting a two-session decline with gains across all sectors. Investors increased their positions amid a jump in US futures, as mild US inflation in November reignited bets of a Fed rate cut next year.

At home, Hong Kong's annual inflation held steady at 1.4% for the second month, with the government anticipating manageable cost pressures in the near term. Meanwhile, mainland investors reportedly added their exposure to risk assets in the city via the stock connect.

Financials surged near 2%, tracking their mainland counterparts, as dividend plays gained favor amid falling bond yields. Gains were limited by holiday weekend caution ahead of the PBoC's upcoming decision on the one-year medium-term lending facility Tuesday after two months of keeping it unchanged at 2%. Notable big-cap gainers included Orient Overseas (6.2%), ENN Energy Holdings (2.8%), Semiconductor Manufacturing (2.8%), and Hang Seng Bank (2.5%). PT Rifan Financindo Berjangka.

Source : Trading Economic

Hong Kong Shares Close Higher on Half-Day Holiday

 

PT Rifan Financindo Berjangka - Hong Kong shares ended a half-day holiday session higher on Tuesday, Dec. 24, boosted by mainland buying and optimism about further economic support measures.

The Hang Seng Index jumped 1.08%, or 215.16 points, to close at 20,098.29. The Hang Seng China Enterprises Index gained 1.25%, or 90.07 points, to 7,303.92.

Mainland Chinese investors continued their buying spree in Hong Kong shares for the sixth straight day, with net inflows of HK$5.23 billion on Tuesday, according to Bloomberg data. Their net investment this year has hit a record HK$786 billion.

“China’s economy is recovering slowly, so there will be more policy support from the government next year,” Zheshang International analyst Shen Fanchao was quoted as saying by the South China Morning Post.

Hong Kong financial markets will be closed tomorrow and the day after for the Christmas holiday and will reopen on Friday, December 27.

In corporate news, Hong Kong shares of Cosco Shipping (HKG:1919, SHA:601919) closed nearly 4% higher after its Cosco Shipping Lines unit agreed to buy a 12% stake in Cosco Shipping Logistics and Supply Chain Management. PT Rifan Financindo Berjangka.

Source: Bloomberg

Hang Seng Rises 0.8% at Finish

 

PT Rifan Financindo Berjangka - The Hang Seng climbed 162 points or 0.8% to close at 19,883 on Monday, halting a two-session decline with gains across all sectors. Investors increased their positions amid a jump in US futures, as mild US inflation in November reignited bets of a Fed rate cut next year.

At home, Hong Kong's annual inflation held steady at 1.4% for the second month, with the government anticipating manageable cost pressures in the near term. Meanwhile, mainland investors reportedly added their exposure to risk assets in the city via the stock connect.

Financials surged near 2%, tracking their mainland counterparts, as dividend plays gained favor amid falling bond yields. Gains were limited by holiday weekend caution ahead of the PBoC's upcoming decision on the one-year medium-term lending facility Tuesday after two months of keeping it unchanged at 2%. Notable big-cap gainers included Orient Overseas (6.2%), ENN Energy Holdings (2.8%), Semiconductor Manufacturing (2.8%), and Hang Seng Bank (2.5%). PT Rifan Financindo Berjangka.

Source : Trading Economic

Hang Seng Falls 1.3% Weekly

 

PT Rifan Financindo Berjangka - The Hang Seng fell 32 points or 0.2% to end at 19,721, reversing gains from earlier deals as most sectors retreated. Markets ended in the red for the second session, down by 1.3% for the week which was the first decline in four amid a sharp pullback in US futures ahead of the Fed’s preferred inflation data later today.

Cautious investors continued to assess the potential impact of fewer rate reductions in the US next year, following three cuts this year. In the mainland, the PBoC maintained its key lending rates at record lows, in line with market consensus.

Some biggest laggards included Kuaishou Tech (-5.4%), KE Holdings (-3.2%), Want Want China Holdings (-3.0%), and Innovent Biologics (-2.2%). In contrast, Semiconductor Manufacturing surged over 8%, after the US asked Nvidia to investigate how its products ended up in China over the past year. Tencent Holdings Ltd. climbed 2.7%, after launching a new gifting feature on its WeChat platform. PT Rifan Financindo Berjangka.

Source : Trading Economics

Hang Seng Cuts Losses in Late Trading

 

PT Rifan Financindo Berjangka - The Hang Seng Index fell 112 points, or 0.6%, to close at 19,753 on Thursday after an upbeat session the previous day, dragged down by broad-based declines across sectors. Investors held off on entering fresh positions after the U.S. Fed cut borrowing costs for the third time this year but warned it would slow the pace of interest rate cuts next year. Meanwhile, traders cautiously awaited China’s key monthly lending rate decision on Friday after hitting a record low in November.

The market pared early losses, on a report that battery maker CATL is considering a second listing in Hong Kong to raise $5 billion, potentially the city’s biggest public offering since early 2021. Separately, meaningful fiscal measures by 2025 from Beijing are expected to help the Chinese economy. Sunac China Hlds. dropped 2.5%, as the property builder began arbitration proceedings against Wanda Group. Other decliners included WH Group Ltd. (-3.8%), Trip.com (-3.1%), Henderson Land Dev. (-2.9%), and MTR Corp. (-2.6%). PT Rifan Financindo Berjangka.

Source: Trading Economics

Hang Seng Up 0.9% at Close

 

PT Rifan Financindo Berjangka - The Hang Seng rose 164 points, or 0.9%, to close at 19,865 on Wednesday, snapping a three-session slide. The rally was driven by a significant increase in U.S. interest rate futures as investors anticipated a 25bps rate cut by the Fed later in the day and its outlook for a reduction in 2025. The index rebounded from its lowest level in more than a week amid indications that China will boost fiscal spending in 2025 by raising its budget deficit to a record 4% of GDP, up from 3% this year.

Meanwhile, Chinese regulators have asked state-owned companies to boost their market value through measures such as mergers, acquisitions and share buybacks.

In addition, China’s central bank vowed to have zero tolerance for “bad behavior” in the bond market as it surveyed bank bond investment activity.

All sectors posted gains, with technology and consumer staples among the biggest movers. Companies that recorded significant increases included Li Auto (5.3%), China Resources Gas Group (4.5%), Geely Auto (4.1%), and Semicon Manufacturing (2.0%). PT Rifan Financindo Berjangka.

Source: Trading Economics

Hang Seng Index Falls 0.6%; Meituan Leads Decline

 

PT Rifan Financindo Berjangka - The Hang Seng Index opened 0.6% lower, dropping 121.75 to 19,673.74, as stocks lose for the third straight day in Hong Kong.

Meituan contributed the most to the index decline, decreasing 1.8%. China Resources Beer Holdings Co. had the largest drop, falling 3.5%.

In early trading, 66 of 83 shares fell, while 13 rose; all sectors were lower, led by commerce and industry stocks. PT Rifan Financindo Berjangka.

Source : Bloomberg

Hang Seng Index Falls 0.9%

 

PT Rifan Financindo Berjangka - The Hang Seng Index fell for the second day, dropping 0.9%, or 175.75 to 19,795.49 in Hong Kong. The index dropped to the lowest closing level since Dec. 5.

Xiaomi Corp. contributed the most to the index decline, decreasing 3.2%. Longfor Group Holdings Ltd. had the largest drop, falling 4.9%.

Today, 60 of 83 shares fell, while 21 rose; 3 of 4 sectors were lower, led by commerce and industry stocks. PT Rifan Financindo Berjangka.

Source: Bloomberg

Hang Seng Down But Posts Third Straight Weekly Gain

 

PT Rifan Financindo Berjangka - The Hang Seng plunged 426 points, or 2.1%, to close at 19,971 on Friday after a strong session the previous day, weighed down by big declines across sectors. Investors were disappointed after China’s Central Economic Work Conference ended without providing specific policy details on fiscal stimulus, although top leaders pledged to spur consumption.

Traders were also cautious ahead of next week’s FOMC meeting, with some experts warning that a recent pick-up in U.S. inflation could delay or alter plans for a rate cut next year. In China, November activity data including industrial output and retail trade are due next week.

However, the index rose 0.5% for the week, posting a third straight gain following moves by major Chinese cities such as Shanghai and Beijing to roll out new voucher schemes ahead of the holiday season. Some of the biggest losers today included Longfor Group (-7.5%), Geely Auto (-5.6%), Li Auto (-4.9%), China Hongqiao Group (-4.2%), and Trip.Com (-3.3%).  PT Rifan Financindo Berjangka.

Source: Trading Economics

Hang Seng Up 1.2% at Close

 

PT Rifan Financindo Berjangka - The Hang Seng jumped 242 points, or 1.2%, to close at 20,397 on Thursday, reversing losses in the previous two sessions amid expectations of strong policy support measures from China’s ongoing annual Central Economic Work Conference. Earlier this week, the Politburo recommended a “moderately loose” monetary policy to support the sluggish economy, though it did not provide details.

However, a significant drop in U.S. futures capped further gains, following a record close on Wall Street’s Nasdaq on Wednesday, as U.S. inflation matched expectations ahead of next week’s FOMC meeting. While all sectors posted gains, supported by continued gains in Chinese markets, the tech index jumped 1.5% following a report that Nvidia Corp. is ramping up hiring in mainland China this year to boost its research capabilities and focus on AI-powered cars. Stocks linked to consumption surged, including China Resources Beer (5.3%), Budweiser Brewing (4.6%), Trip.com (4.5%), and Haidilao Intl. (3.9%). PT Rifan Financindo Berjangka.

Source: Trading Economics

Hang Seng Turns Early Gains to Finish Lower

PT Rifan Financindo Berjangka - The Hang Seng lost 156 points or 0.8% to end at 20,155 on Wednesday, shifting from gains in the morning session after the Asian Development Bank lowered its GDP growth forecasts for Hong Kong this year and the next, citing a slowdown in private consumption, fixed investment, and exports.

The city's GDP growth for 2024 was cut to 2.5% from an earlier estimate of 2.8%, while growth is expected to slow to 2.3% from 3.0% in 2025. Cautious traders braced for the result of a key policy meeting in China after a pledge from the Politburo to support the economy on Monday lacked detailed measures.

On Wall Street, shares closed lower Tuesday, with US-listed shares of Chinese firms down over 4% after China opened a probe into potential antimonopoly law violations by chipmaker Nvidia Corp. All sectors finished in the red, with deep losses from big caps such as Tongcheng Travel Hlds. (-4.2%), Techtronic Inds. (-3.6%), Meituan (-2.6%), Sun Hung Kai Properties (-2.5%), and Henderson Land Dev. (-2.4%). PT Rifan Financindo Berjangka.

Source : CNBC

Hang Seng Ends Lower After Morning Rally

 

PT Rifan Financindo Berjangka - The Hang Seng fell 103 points or 0.5% to close at 20,311 on Tuesday, reversing a surge in the morning session amid profit-taking after the index hit its highest in a month following Monday's pledge from the Chinese Politburo to ramp up stimulus next year.

Markets ended lower for the first session in three after fresh data showed Chinese export growth slowed sharply in November while imports shrank further. A drop on Wall Street Monday after a series of record highs also rattled sentiment ahead of key US inflation data later this week.

In business news, China opened a probe into suspicions that US chipmaker Nvidia Co. broke anti-monopoly laws in a 2020 deal. Traders now shift focus to the annual Central Economic Work Conference due to start Wednesday. Most sectors dipped, with tech, and property among top losers. SenseTime Group sank 13.0% as it moved away from its traditional AI products. Other steep losses were Smoore Intl. (-4.3%), Wuxi Biologics (-3.7%), and BYD Electronic (-3.7%). PT Rifan Financindo Berjangka.

Source : Trading Economics

Stocks in Hong Kong Hit 4-week High

PT Rifan Financindo Berjangka - Hong Kong's shares were almost flat in the Monday morning session, trading around 19,868 following a rally in the previous session, with investors responding to China's CPI and PPI data. Consumer prices in the mainland rose by 0.2% yoy in November, missing consensus of 0.5% while marking the softest increase in five months. At the same time, producer prices fell by 2.5%, pointing to the 26th month of drop despite softening from October's print of a 2.9% fall.

On local data, forex reserves in the city notched a nine-month peak of USD 425 billion last month. Market participants monitored China's key policy gatherings this week, including the Central Economic Working Conference and Politburo meeting, looking for signs of fresh stimulus. In the US, Donald Trump told NBC on Sunday that he has no plans to replace Fed Chair Powell once he returns to the White House. Wuxi Biologics (9.0%) and BYD Electronic (8.5%) surged while Miniso Group and China Mengniu Dairy slipped by 3.6% and 2.7%, respectively. PT Rifan Financindo Berjangka.

Source: Trading Economics

Hong Kong Stock Exchange

PT Rifan Financindo Berjangka - Equities in Hong Kong surged 233 points or 1.2% to 19,789 in early trade on Friday, bouncing back from a weak session the prior day amid optimism that China’s central bank will deliver more monetary easing next year to bolster growth and combat deflation. Goldman Sachs and Morgan Stanley forecast reductions of 40bps to the PBoC’s main policy rate in 2025, the largest interest rate cut in a decade. The Hang Seng is on track for its second straight weekly gain, up nearly 2% so far, buoyed by hopes of positive outcomes from the upcoming central economic working forum and Politburo meeting in China.

However, further gains were tempered by a pullback in US futures, ahead of the monthly US jobs report later today. Meantime, some traders adopted a cautious stance before key Chinese data next week, including CPI, PPI, and trade figures. Among the top early movers were Giant Biogene Holdings (7.3%), Prada Spa (5.2%), Wuxi Biologics (4.3%), China Longyuan Power (3.4%), and Kunlun Energy (3.0%).(Cay) PT Rifan Financindo Berjangka.

Source: Trading Economi

 

Hang Seng finished a trading session with little movement

 

PT Rifan Financindo Berjangka - Hang Seng finished a trading session with little movement on Wednesday, closing around 19,742 following gains in the previous three sessions. Traders digested private survey data revealing an unexpected slowdown in China's services activity last month, despite a series of support measures from Beijing since September. In Hong Kong, private sector activity grew for the second straight month, although at a slower pace.

Market participants cautiously watched political developments in South Korea, where a brief declaration of martial law led to the opposition pushing for the impeachment of President Yoon Suk Yeol.

On the trade front, Beijing announced a ban on rare earth exports to the US in the wake of Washington’s latest crackdown on Chinese chip sector. In the US, Fed Chair Powell will be speaking in New York later today, with monthly jobs data due on Friday. Miniso Group (4.6%) and Trip.Com (2.5%) posted strong gains while Akeso Inc. (-6.4%) and GCL Tech Hlds. (-4.8%) retreated.(Cay) PT Rifan Financindo Berjangka.

Source: Trading Economi

Hong Kong Stocks Rise for 4th Session

 

PT Rifan Financindo Berjangka - Hong Kong stocks rose 29 points, or 0.2%, to 19,781 in early trade on Wednesday, rising for a fourth session amid a sharp rise in U.S. stock futures after Wall Street hit another record high overnight, ahead of upcoming monthly U.S. jobs data and a speech by Fed Chair Powell.

Meanwhile, private survey data showed China’s services sector expanded for a 23rd straight month in November, although the pace of growth slowed from a three-month peak in October.

Consumer and technology stocks were mostly higher, following remarks from China’s central bank that it will adopt supportive policies next year and ease financing costs for businesses and households. PT Rifan Financindo Berjangka.

Source: Trading Economics

Hang Seng Index Rises 1%; Led by Finance Sector

 

PT Rifan Financindo Berjangka - The Hang Seng Index rose for the third day, climbing 1%, or 196.03 to 19,746.32 in Hong Kong. The index advanced to the highest closing level since Nov. 13.

Today, finance stocks led the market higher, as all sectors gained; 66 of 82 shares rose, while 15 fell.

China Construction Bank Corp. contributed the most to the index gain, increasing 2.0%. Wuxi Biologics Cayman Inc. had the largest increase, rising 7.9%. PT Rifan Financindo Berjangka.

Source: Bloomberg

Indeks HangSeng rose 127 points or 0.65% to close at 19,550 on Monday,

 

PT Rifan Financindo Berjangka - The Hang Seng rose 127 points or 0.65% to close at 19,550 on Monday, marking gains for the second session amid strength across sectors. Upbeat manufacturing data from China, provided by both officials and a private survey, boosted sentiment as stimulus measures initiated in September began to take effect.

Meanwhile, bets increased that the PBoC might roll out more policy easing, potentially including further reductions in the RRR and injecting more liquidity into the markets. Locally, Hong Kong's retail sales fell the least in eight months for October, with a government spokesperson saying China's recent stimulus helped support consumption sentiment and economic activities in the city.

However, further gains were capped by a notable drop in US futures after a winning week and month on Wall Street in the wake of Donald Trump's victory. Some top performers of the day included Miniso Group (17.7%), BYD Electronic (10.9%), Nongfu Spring (8.0%), Prada Spa (5.2%), and Wuxi Biologics (3.5%).(Cay) PT Rifan Financindo Berjangka.

Source: Trading Economi

Hang Seng Rises But Closes Month with Steep Losses

 

PT Rifan Financindo Berjangka - The Hang Seng rose 57 points or 0.3% to finish at 19,424 on Friday after tumbling in the prior session, helped by gains in all sectors. The tech index led the rise amid potentially softer-than-expected US curbs on chip equipment sales to China. Financials and consumers also advanced, as China would ease visa restrictions for Shenzhen residents visiting Hong Kong from Dec.

In the US, Wall Street will resume trading after Thursday's holiday. For the month, however, markets logged their second straight decline, down by 4.4%, burdened by increased concerns over the impact of persistent trade disputes between Beijing and Washington. At the same time, it remains unclear whether China will roll out new measures to spur economic recovery, with the year drawing to a close. Some traders cautiously prepared for November PMI data from Chinese officials, set to be published on Saturday. Among the top movers of the day included Galaxy Ent. (4.4%), Semicon Manufacturing (4.0%), and Li Auto (3.8%). PT Rifan Financindo Berjangka.

Source: Trading Economics