Hong Kong Financial News

Sensex closed the day 178.58 points, or 0.25%, higher at 72,026.15, while the Nifty 50 settled at 21,710.80, up 52.20 points, or 0.24%. Also Read: Market ahead: Q3 results, Red Sea crisis, inflation, FII activity among key market triggers to watch next week “Healthy pre-quarterly business updates indicate that the earnings growth momentum is likely to continue in Q3 as well. Overall we expect markets to remain in a positive range.

Sensex Today | Share Market Live Updates: Indian stock indices are expected to open flat on Monday as indicated by trends in Gift Nifty. The markets are likely to be significantly influenced by the upcoming quarterly earnings from major IT companies like TCS and Infosys, as well as global market trends.

Tata Electronics is reportedly to sign a Memorandum of Understanding (MoU) worth a whopping Rs 12,082 crore with Tamil Nadu Government. The MoU is likely to be signed at Tamil Nadu Global Investors Meet 2024 in Chennai which was inaugurated by state's Chief Minister M. K.

The Airports Authority of India (AAI) and Delhi International Airport Ltd (DIAL), the operator of the Indira Gandhi International Airport in the national capital, are locked in a tussle over the development of a proposed air train. This train is designed to connect the airport’s three terminals, its cargo hub, and Aerocity, a zone hosting numerous hotels and office complexes. Two key issues dominate the debate: the project's financing and the number of stops the air train should have.

Asian shares are mostly lower after a mixed finish on Wall Street, although export-related Tokyo stocks got a boost from a strengthening dollar

Of the firm's 124 equity categories, 19 returned a net negative performance in 2023, with the bottom ten dominated by Asia exposures.

Investing.com-- Most Asian stocks moved little on Friday as they steadied after a weak start to the new year, although anticipation of key U.S. payrolls data and persistent concerns over China kept investors on edge.

crypto stablecoins, which advertise tranquility in an ocean of tumult, have hardly lived up to their billing. Not one out of the 68 tokens studied by researchers at the Bank for International Settlements has managed to stay on its peg at all times. Tether and USD Coin, the two largest players, reference their values 1:1 to the dollar, which enables them to act as a bridge of sorts between virtual and real-world representations of money. However, they have very little use outside the domain of crypto trading. For the broader population that doesn’t dabble in Bitcoin or Ether, keeping money in a bank that has deposit insurance has always been a safer option. And yet, despite their well-known infirmities, more stablecoins keep coming. Regulators, too, seem to be more receptive to having them around, despite spectacular blowups like when TerraUSD breached its $1 price target in May 2022 and wiped out about $500 billion from cryptocurrency markets. Circle’s USD Coin briefly lost its peg during the US regional banking crisis of 2023. Still, Hong Kong put out a proposal last week to license stablecoins. Singapore has already announced similar intentions. It’s very likely that before the end of 2024, the two financial centers will have come up with rules that US lawmakers have failed to adopt after three years of efforts.

By Kevin Buckland

GDP estimates on Friday. The domestic equity benchmark indices resumed their upward march on Thursday, snapping their two-day losing run, amid across-the-board buying despite mixed global cues. The Sensex rallied 490.97 points, or 0.69%, to end at 71,847.57, while the Nifty 50 closed 141.25 points, or 0.66%, higher at 21,658.60.

Asian stocks are lower, tracking a weak start to 2024 on Wall Street as Japan's markets reopened

HONG KONG (Reuters) — Hong Kong said on Thursday it will not sell any residential or commercial land in the first three months of 2024, citing sluggish market sentiment and high vacancy rates respectively.

By Ankur Banerjee

At the interbank foreign exchange, the rupee opened at 83.30 against the dollar and then touched a low of 83.32, registering a fall of just 2 paise over its previous close. On Wednesday, the rupee settled at 83.30 against the dollar. The rupee rose on Wednesday on flows from a Hong Kong-based bank amounting to USD 500 billion.

Investing.com-- Most Asian stocks fell on Thursday, extending declines after a weak start to the year as persistent doubts over the timing and scale of the Federal Reserve’s interest rate cuts saw investors lock-in more profits.

SHANGHAI/SYDNEY (Reuters) — China's leading bubble tea makers including Mixue Bingcheng and Guming are rushing to apply for first-time share sales in Hong Kong as companies in the fast-growing sector expand aggressively amid fierce competition.

SHANGHAI (Reuters) — Chinese money managers are rushing to create funds tracking the newly-launched CSI A50 Index, which analysts say is a better reflection of China's economic landscape and government priorities than the country's stock benchmarks.

By Stella Qiu

By Yew Lun Tian and James Pomfret

Investing.com-- Shares of Apple Inc's (NASDAQ:AAPL) biggest Asian suppliers sank on Wednesday, tracking an overnight decline in the iPhone maker after Barclays downgraded the stock citing cooling demand for its flagship product.

Investing.com-- Most Asian stocks fell on Wednesday, tracking steep overnight losses on Wall Street as markets second-guessed expectations for early interest rate cuts by the Federal Reserve, especially before more key economic cues this week.