Hong Kong Financial News

Its Hong Kong-listed shares climbed 3% in morning trade after a 12% tumble on Friday. Hong Kong markets were closed on Monday and Tuesday for public holidays.

By Rae Wee

Investing.com-- Most Asian stocks rose on Wednesday, tracking a rally on Wall Street as investors cheered the prospect of early interest rate cuts by the Federal Reserve, while Chinese shares lagged on a bleak economic outlook.

Sensex gained 229.84 points, or 0.32%, to close at 71,336.80, while the Nifty 50 settled 91.95 points, or 0.43%, higher at 21,441.35. “We expect markets to be in a range with positive bias and end the year on a positive note. While there is lack of significant triggers and in the absence of any major events due holiday season.

Xi Jinping has promoted two naval officers, including a submarine expert, as top naval commanders which involves the Chinese navy's operations in the disputed South China Sea. Xi, who is also the chairman of the powerful Central Military Commission (CMC), the overall high command of the armed forces besides being the President and head of the ruling Communist Party, has presented certificates of order to promote two military officers to the rank of General, official media reported on Tuesday. General is the highest rank for officers in active service in China.

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By Rae Wee

By Ankur Banerjee

Catch Live Market Updates here Analysts expect the market to remain range bound with stock specific action this week ahead of the year end. However, the underlying tone of the market remains positive on rising bets on the US Federal Reserve to cut interest rates early next. The Indian stock market indices ended higher on Friday tracking positive cues from global peers.

stocks traded tentatively on Tuesday, while the dollar lurked near a five-month low as cooling U.S. inflation bolstered bets the Federal Reserve would cut interest rates soon. Investors were still digesting data released on Friday that showed U.S. prices fell in November for the first time in more than 3-1/2 years, underscoring the economy's durability.

The yen meanwhile steadied near its recent five-month peak on the prospect that the Bank of Japan (BOJ) could soon mark an end to its ultra-easy policy. For most of 2022 and 2023, the policy has kept the Japanese currency under pressure as other major central banks globally embarked on aggressive rate-hike cycles. Currency moves were largely muted in the day after Christmas, with markets in Australia, New Zealand and Hong Kong still out for the Boxing Day public holiday. Against the greenback, the euro slipped 0.06% to $1.1019, but was not too far from a more than four-month top of $1.1040 hit last week. Sterling was little changed at $1.2701, while the Australian and New Zealand dollars were huddled near their recent five-month peaks. The dollar index languished near a five-month low of 101.42 hit last week, and was last at 101.65. Data released on Friday showed U.S.

«Overall the mood of the market remains positive. We expect the market to remain range bound with stock specific action next week,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS Gift Nifty (Earlier SGX Nifty) signals a positive Nifty futures on the Gift Nifty traded at 21,418.50, up 24 points or 0.11%, signalling a positive start for Dalal Street.

Hong Kong-based ZA Bank announced that it has been providing support for over 80 web3 companies since early this year. This is in line with its vision for “Banking for Web3,” which it introduced in April.

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Red Sea, the latest shipping companies to do so after attacks by Yemen's Houthi group on vessels disrupted global trade, prompting the establishment of a naval task force. The hostilities have put a chokehold on ship passages through the Suez Canal, which handles about 12% of worldwide trade. The Suez Canal is most vital to the movement of goods between Asia and Europe, but global logistics executives warned that sending ships on alternate routes could roil global supply chains, causing backups at ports and shortages of vessels, containers and equipment that are suddenly in the wrong place. «The situation remains fluid, things could change quickly, which is why contingency plans that include a plan A, B and C are critical to keeping supply chains moving,» said Matthew Burgess, vice president of global ocean services at C.H.

China stocks slipped on Monday, with online gaming shares extending their decline of the previous session as China's new rules to curb spending on video games dented sentiment despite regulators' latest efforts to soothe investor concerns. The Hong Kong market is closed for the Christmas holiday. ** The blue-chip CSI 300 Index slipped 0.1% and the Shanghai Composite Index was down 0.3% by the midday recess. ** China's CSI Anime Comic Game Index slumped 4.9%, extending a 10% tumble in the previous session. ** The weak sentiment towards the sector persisted despite a statement from regulators on Saturday that they would make improvements to the proposed rules after «earnestly studying» public views on them. ** The proposed rules aim at curbing money and time spent on video games, dealing a blow to the world's biggest games market and knocking the value of Tencent Holdings, Netease and other gaming stocks. ** On Monday, shares in gaming companies Giant Network Group, 37 Interactive Entertainment Network and Kingnet Network were all down their 10% daily limit. ** Stocks in the media sector tumbled 2.6%, while defence shares gained 1.6%.

China has released draft guidelines aimed at curbing excessive spending on online gaming

Micron Technology Inc. has settled a high-profile intellectual property theft lawsuit with a key, state-backed Chinese rival amid the US company’s efforts to mend ties with Beijing. Micron said it has reached a global settlement agreement with Fujian Jinhua Integrated Circuit Co. “The two companies will each globally dismiss their complaints against the other party and end all lawsuits between them,” a Micron spokeswoman said in an email, declining to provide further details.

Santa Claus may not ride his sleigh down to visit you as you watch the snow fall, but you will undoubtedly receive a surreal experience as his gift. There are plenty of high-altitude hill stations in India that transform into enchanted snowscapes during the winter. So, where in India are the greatest spots to enjoy a white Christmas? These six choices are as follows: 1) Auli, Uttarakhand: With views of the Nanda Devi and Nar Parvat, this Himalayan paradise in Uttarakhand is peppered with oak and coniferous trees.

Reuters report, nearly $80 billion was wiped off from the market value of from China's two biggest gaming companies. The government of China has decided to prohibit online games from bestowing rewards upon players for routine daily logins, inaugural financial transactions within the game, and successive instances of spending.