Hong Kong Financial News

Asian stocks traded lower while U.S. Treasury yields declined on Wednesday, after ratings agency Fitch unexpectedly downgraded the United States' top-tier sovereign credit rating.MSCI's broadest index of Asia-Pacific shares fell 0.5%. Japan's Nikkei slid by 1.2%, while Australian shares edged down 0.5%.

Overall, we expect the market to consolidate in a range with a positive bias as we move further into the earning season," said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative startGIFT Nifty on the NSE IX traded 23 points, or 0.12 per cent, lower at 19,779, signaling that Dalal Street was headed for negative start on Wednesday.

Read here: Fitch cuts US credit rating to AA after debt limit standoffs Meanwhile, a report from the Institute for Supply Management said that in July manufacturing contracted at a slightly worse pace than economists expected, but not as badly as it did in June. A separate report from S&P Global also said US manufacturing is continuing to decline. In Japan, the Nikkei 225 declined 1.48%, while the Topix fell 1.11%.

daredevil and photographer Remi Lucidi has died after a fall from a skyscraper in Hong Kong.Police in the region said they discovered the body of a 30-year-old man on a patio near Tregunter Tower on Thursday, according to numerous reports. Authorities believe Remi Lucidi, who used the name “Remi Enigma” on social media, may have fallen from the 68th storey while attempting a type of extreme sport.Lucidi regularly posted photos to Instagram — where he had a considerable following — of himself scaling the peaks of urban skyscrapers and high-rise buildings around the globe.A post shared by ʀᴇᴍɪ ᴇɴɪɢᴍᴀ (@remnigma)The practice, often called buildering or urban climbing, sees thrillseekers scale or traverse buildings or artificial structures to reach the top.

Pfizer edged 1.2% lower after its quarterly revenue fell short of analysts’ expectations. European stocks declined on Tuesday, on shrinking factory activity in the euro zone. The pan-European benchmark STOXX 600 fell 0.9%.

PAC Capital, a Sydney-based fund manager that promotes itself as an expert in computer gaming, took down performance updates and other information from its website on Tuesday after The Australian Financial Review raised questions about some of its accuracy.

share buyback on Tuesday to raise its key profitability target as the increasing central bank interest rates across the world helped it more than double income for the first half of the year, according to Reuters reports. The financial services company raised its near-term return on tangible equity goal to at least mid-teens for 2023 and 2024, from a previous target of at least 12% from 2023 onwards. It reported a return on tangible equity of 9.9% for 2022.

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Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 1st August Japan’s Nikkei 225 gained 0.15%, while the Topix was flat. South Korea’s Kospi rose 0.66% and the Kosdaq added 0.48%. Hong Kong’s Hang Seng index futures traded around 270 points higher at 20,348, hinting a stronger open.

Europe European stocks gained on Monday, led by rise in healthcare shares and on easing euro zone inflation in July. The pan-European benchmark STOXX 600 rose 0.1%. Britain’s FTSE 100 rose less than 0.1% at 7,699.41.

(Reuters) -Luxury carmaker Aston Martin said on Monday it will launch a 210 million pound ($270.04 million) share placing to speed up its aim to reduce net leverage.

The United States and China are competing on both economic and technological fronts – and part of their rivalry includes a race to adopt crypto.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

The government in the Chinese city of Shanghai issued an implementation plan on July 31 for promoting the development of its urban blockchain digital infrastructure system in the time frame of 2023-2025, according to an update on the government’s webpage. 

India exported USD 2.43 billion worth of smartphones in April-May this fiscal, driven by a multifold jump in shipments to the US which emerged as the biggest destination for India-made devices, according to the government data. The smartphone exports to the US jumped multiple times to USD 812.49 million during the first two months of this fiscal as against USD 92.2 million in April-May 2022-23, the commerce ministry data showed. The US accounted for one-third of the shipments in value terms.

Both Hollywood tentpoles were primed for one of history's most epic box-office showdowns. However, surprisingly, both movies have managed to pass the box-office test with flying colours!

Shares are mostly higher in Asia after Wall Street got back to climbing following more encouraging profit reports and the latest signal that inflation is loosening its chokehold on the economy

inflation data from across the region this week. US markets ending higher on Friday also improved sentiment. China is set to release its July purchasing managers index on Monday, while the US ISM surveys on manufacturing and services, the July payrolls report and European inflation due this week will also be eyed.

Private equity behemoth PAG Asia Capital is making another major foray into Australia’s consumer sector, in what’s expected to be its biggest swing so far in the region.

Macquarie-managed The Infrastructure Fund has ordered a strategic review of its 7.19 per cent stake in Perth Airport as it looks to take profits after the airport returned to pre-pandemic passenger volumes in February.

China has demanded that the United States invite Hong Kong’s leader to an economic conference following a news report that Chief Executive John Lee would be barred due to his role in crushing the city’s pro-democracy movement