Hong Kong Financial News

Nifty is currently just 40 points away from hitting the 21,000 mark. «Markets saw a smart rally of 11% since the low of October end. Despite this sharp up-move, Nifty is trading at a 12-month forward P/E ratio of 18.4x, which is at a 9% discount vs its long-period average. Hence, we expect focus to shift towards the largecap stocks,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS Gift Nifty signals negative start Nifty futures on the Gift Nifty traded 56 points or 0.27% lower at 21,045.50, signalling a breather for the equity market bulls following a seven-day rally.

Dominic Johnson (pictured), minister of investment

World shares have advanced after most stocks slipped on Wall Street following a mixed set of reports on the U.S. economy

startups as on October 31, Parliament was informed on Wednesday. These eligible firms are allowed to seek fiscal incentives under the Startup India Action Plan, which was launched in January 2016, and that includes income tax exemption for three years. Replying to a question in the Lok Sabha, Commerce and Industry Piyush Goyal said the action plan includes 19 items spanning across areas such as simplification and handholding, funding support and incentives and industry-academia partnership and incubation.

Hong Kong Securities and Futures Commission (SFC) has issued a warning to the public about potential virtual asset-related frauds involving “HongKongDAO” and “BitCuped.”

SHANGHAI/HONG KONG (Reuters) — Moody's (NYSE:MCO) negative outlook on China has intensified Beijing's battle with market bears, raising pressure on the government for more forceful measures to prop up sinking stocks and stabilise the yuan as investor confidence deteriorates.

By Kane Wu and Josh Ye

The Hong Kong Monetary Authority (HKMA) is gearing up to introduce its second tokenized green bond, expected to be unveiled within the next few months. 

A look at the day ahead in European and global markets from Kevin Buckland

Investing.com-- Most Asian stocks rallied on Wednesday as weak U.S. labor market indicators fueled more bets that the Federal Reserve had limited room to keep interest rates higher, helping investors look past a warning on China’s economy.

«Going forward, investors will take cues from US Service PMI and Jolt Jobs data,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS Gift Nifty signals positive start Nifty futures on the Gift Nifty traded at 21,027 around 7.15 am, up 27.50 points or 0.13%, indicating a positive start for Dalal Street.

Global market setup remains positive as Asian markets traded higher while the US shares ended mixed overnight. The equity benchmark indices on Tuesday ended at their record closing highs as market sentiment remained upbeat following strong macro numbers and BJP's victory in the three large states. The Sensex jumped 431.02 points, or 0.63%, to end at 69,296.14, while the Nifty 50 settled 168.30 points, or 0.81%, higher at 20,855.10.

Credit rating agency Moody’s has downgraded its outlook for Chinese sovereign bonds to negative, citing risks from a slowing economy and a crisis in its property sector

Canada remains a chronic underachiever. Our economy contracted by 1.06 per cent quarter-over-quarter in the third quarter, while the United States economy grew by 5.2 per cent. The European Union and Australia also saw modest economic growth.

Hong Kong’s most prominent pro-democracy activists, who was imprisoned in the wake of the 2019 Hong Kong protests, said on Sunday that she has left the city for Canada and plans to never return.Agnes Chow, 27, became a face of Hong Kong’s pro-democracy movement after she helped establish the Demosisto political party in 2016 alongside other young activists Joshua Wong and Nathan Law. The group disbanded hours after Beijing passed a sweeping national security law in 2020 that put a chilling effect on political activism in the city, and has been criticized by western governments for stifling free expression and interfering with Hong Kong’s semi-autonomous status as a former British colony.Chow was arrested in 2019 for allegedly inciting an unauthorized protest outside Hong Kong police headquarters.

A look at the day ahead in European and global markets from Tom Westbrook

Asian stocks slipped to three-week lows on Tuesday while bonds and the dollar steadied as investors tempered expectations for cuts to U.S. interest rates and waited on U.S. jobs data. An interest rate decision is due in Australia in the meantime, with traders all but certain the central bank will keep rates steady, leaving the focus on the outlook and tone. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.9% in early trading.

Sensex surged 1,383.93 points, or 2.05%, to end at 68,865.12, while the Nifty closed 418.90 points, or 2.07%, higher at 20,686.80. “We expect market sentiment to strengthen further as the ongoing pre-election rally is quite strong now. Given the government’s focus approach towards long-term capex across key areas, we expect BFSI, Industrials, Real Estate, Auto and Consumer Discretionary to do well going forward," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Bitcoin topped US$42,000 as frenzied speculation in cryptocurrencies gathers pace, extending the largest digital token’s rally to more than 150 per cent this year.

Stocks and bonds retreated as traders pause after November’s blockbluster rally and debate the case for interest rate cuts. Bitcoin surged past $41,000, while gold briefly touched an all time high.

By Casey Hall