Hong Kong Financial News

Asian shares are trading mixed as investors await further indications of future U.S. interest rate cuts

Asian equities traded within narrow ranges early Monday as investors looked ahead to a busy week of economic data including the Federal Reserve’s preferred inflation gauge. China’s currency pared some of Friday’s losses following support by authorities. Shares in Australia and Hong Kong edged higher, while those in Japan and mainland China slipped. US equity futures were little changed after a muted end to the week on Wall Street with the S&P 500 declining 0.1% and the Nasdaq index rising by the same margin on Friday.

Hong Kong's temperature on Sunday reached the highest recorded level during the month of March in 140 years, according to the city's observatory. The maximum temperature measured at the Observatory was 31.5 degrees Celsius (88.7 degrees Fahrenheit) — the highest reported during the month of March since records began in 1884 — while it surged to above 32 degrees Celsius in the northern areas of the territory close to the mainland Chinese city of Shenzhen.

Arvind Kejriwal, alleged conman Sukesh Chandrasekhar said the Delhi Chief Minister's arrest shows that "truth has prevailed". Asked about Kejriwal's arrest by the Enforcement Directorate in the excise policy-linked money laundering case, Chandrashekar told the media, "Truth has prevailed, I welcome him to the Tihar jail," says conman Sukesh Chandrasekhar when asked about Delhi CM Arvind Kejriwal's arrest by ED in the policy-linked money laundering case." Chandrashekhar had in a letter to Bharat Rashtra Samithi (BRS) leader K Kavitha, asked her to “come clean" in the Delhi excise policy case and not shield Kejriwal. The letter came on March 19, a day after the ED alleged that Kavitha paid ₹100 crore to top Aam Aadmi Party (AAP) leaders to get benefits of the new Delhi excise policy.

By James Pomfret, Jessie Pang and Greg Torode

Investing.com-- Shares of SMIC sank on Friday, leading declines across major Chinese technology firms after the Biden administration suggested that China’s biggest chipmaker may have flouted U.S. export curbs to produce a new chip for a flagship Huawei phone. 

By Xie Yu and Selena Li

Investing.com-- Most Asian stocks sank on Friday with Chinese markets leading losses on resurgent concerns over a slowing economy, while a rally in Japan’s Nikkei 225 ran dry after strong inflation data. 

(Reuters) -Luggage maker Samsonite International on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets.

By James Pomfret and Greg Torode

midcap stocks hold potential to deliver decent growth. HSBC has identified 8 midcap stocks, which could give up to 58% returns. The Hong Kong-based brokerage argues why it considers them a safe bet. HSBC has dispelled fears of a deeper correction in midcaps from here, like what happened in 2018 when the BSE Midcap index fell by over 13%. It said many midcap stocks have even corrected 35-50% with valuations coming down to the 5-year mean. Moreover, the midcap market breadth has declined to 73% from 90%+ at the beginning of the year (versus 60% which is the normal cycle average breadth). This signals a limited downside.

₹40 crore (including buyer's premium) setting a new global benchmark for the artist. The sale, coinciding with Souza’s 100th birth anniversary, sold 100% of the lots offered, surpassing the low estimates by a whopping 310%. Notably, the auction's success extended beyond Souza's iconic masterpiece, The Lovers.

Hong Kong’s central bank cautioned the public Wednesday about schemes falsely claiming association with its e-HKD pilot projects. The warning comes as Hong Kong explores the potential of a central bank digital currency through various trial projects.

By Selena Li and Brenda Goh

HONG KONG (Reuters) — The Hong Kong Monetary Authority (HKMA) left its base rate charged through the overnight discount window unchanged at 5.75% on Thursday, tracking a move by the U.S. Federal Reserve to keep rates steady.

Consulate General of India in Hong Kong has issued an advisory for Indian nationals planning to visit the special administrative region for a period of less than 14 days. The Indian mission, in a statement, said that the nationals need to apply for online Pre-Arrival Registration (PAR).

Hong Kong gets new security law 'to crush dissent': How will it impact citizens? Additionally, the Indian passengers must have the following: Passport validity of at least six months, confirmed return or onward tickets, confirmed hotel booking, proof of bona fide purpose of visit, and proof of sufficient financial provisions. The Consulate General of India, also pointed out that holding Pre-Arrival Registration (PAR) is not a guarantee of the registrant's successful entry in Hong Kong and the above-mentioned requirements need to be followed "Please note that holding a valid PAR is not a guarantee of the registrant's successful entry to the HKSAR.

Asian shares have closed mostly higher while European markets opened lower as investors awaited the latest signals from the Federal Reserve on the timing of cuts to interest rates

By Stella Qiu

Investing.com-- Most Asian stocks steadied in cautious trade on Wednesday as markets awaited more cues on U.S. interest rates from the conclusion of a Federal Reserve meeting later in the day.

BEIJING (Reuters) -China's central bank said it has reshuffled its monetary policy committee to include securities regulator head Wu Qing, vice central bank chief Xuan Changneng and two new academic members.