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As on Jan 18, 2019 12:00 AM Your results on : Foreign Markets    
Hong Kong Market gains on US-China trade rumors
18-Jan-2019 (10:21)
Headline indices of the Hong Kong financial market advanced on Friday, 18 January 2019, as appetite buying for risk assets underpinned on tracking firm lead from Wall Street overnight after a report that American officials may be weighing the possibility of easing tariffs on China, in a bid to push forward trade talks. Around afternoon, the Hang Seng Index surged 257.57 points or 0.96% to 27,013.20. The Hang Seng China Enterprises Index rose 108.21 points or 1.03% to 10,620.36.

Investors risk sentiments were encouraged on reports that said American officials were weighing the possibility of easing tariffs on China, in a bid to push forward trade talks. As per reports, U.S. Treasury Secretary Steven Mnuchin proposed lifting all or some of the tariffs on Chinese imports to give Beijing a reason to make deeper concessions in ongoing trade talks between the two countries.

Chinese Vice Premier Liu He will visit the United States on Jan. 30 and 31 for the latest round of trade talks aimed at resolving the bitter dispute between the world's two largest economies. In December 2018, Washington and Beijing agreed to a 90-day truce in a trade war that has disrupted the flow of hundreds of billions of dollars of goods.

Indicators released recently have shown signs that the Chinese economy is losing some momentum. China will release its fourth-quarter and 2018 GDP data on Monday, along with December factory output, retail sales and fixed-asset investment.

China's fourth-quarter economic growth likely slowed to the weakest pace since the global financial crisis, as demand faltered at home and abroad. Market experts expect the world's second-largest economy to have grown 6.4% in the October-December quarter from a year earlier, slowing from the previous quarter's 6.5% pace and matching levels last seen in early 2009. Full-year growth is expected to have cooled to 6.6%, the weakest pace in 28 years, from 6.9% in 2017. Better-than-expected GDP readings could lift stocks and global commodity prices, and boost the yuan, which has firmed this year following a sharp drop in 2018. Forecasts by 53 market pundit ranged from 6.1% to 6.7%.

Chinese policymakers have repeatedly pledged more support for the economy while vowing they will not resort to flood-like stimulus that Beijing has unleashed in the past, which quickly juiced growth rates but left a mountain of debt. As the economy loses steam, top leaders are closely watching employment levels as factories could be forced to shed more workers.

Shares of Jiayuan International Group, a Chinese property developer that mysteriously plummeted by as much as 81% in late Thursday trading, shot up by 67%. The company said after market close on Thursday it had already repaid a US$350 billion bond debt, which was rumoured to be the cause of the crash.

Sunshine 100 China, another developer, surged as much as 50% before paring gains to 21%. On Thursday, it dove 65%. Internet of things solution provider Rentian Tech climbed 19%, a day after it plunged 73%.

Smartphone and home appliance maker Xiaomi rose 3.5% after launching its first share buyback action since debuting in July. The company bought back 6.14 million class B shares at a price of HK$9.76 apiece, it said in a statement on Friday. Shares of the much-watched company have declined around 40% from its offer price of HK$17 amid a slumping market and dimmed appetite for new economy stocks.

OFFSHORE MARKET: US share market closed higher on Thursday, following a Wall Street Journal report that said US Treasury Secretary Steven Mnuchin is discussing lifting some or all tariffs imposed on Chinese imports. Also giving US stocks a boost was the defence sector, led by defence contractors Lockheed Martin and Northrop Grumman, after US President Donald Trump unveiled a revamped US missile defence strategy. The Dow Jones Industrial Average jumped 162.94 points, or 0.67%, to 24,370.10. The S&P 500 was up 19.86 points, or 0.76%, to 2,635.96. The Nasdaq Composite Index rose 49.77 points, or 0.71%, to 7,084.46.

China Market gains after report U.S. considering easing China tariffs
18-Jan-2019 (10:17)
Australia Market rises on US-China trade optimism, lead by miners, techs
18-Jan-2019 (10:11)
Japan Nikkei surges on hopes for eased US-China tension
18-Jan-2019 (10:07)
Japan Stocks mixed on profit booking
17-Jan-2019 (14:39)
Australia Stocks hit two months peak
17-Jan-2019 (14:25)
US stocks rise for second straight session
17-Jan-2019 (10:51)
Hong Kong Market gains 0.27%
16-Jan-2019 (16:10)
China Market ends flat
16-Jan-2019 (16:00)
Japan Nikkei falls on profit booking
16-Jan-2019 (12:05)
Australia Stocks extend gains
16-Jan-2019 (11:48)
Hong Kong Stocks gain 2% on China stimulus boosts
15-Jan-2019 (14:51)
China Market rises on China stimulus pledges
15-Jan-2019 (14:45)
Australia Stocks rises on China stimulus boosts
15-Jan-2019 (14:37)
Japan Nikkei rises to nearly a one-month high
15-Jan-2019 (14:11)
Hong Kong Stocks fall as China data sours
14-Jan-2019 (16:18)
China Market falls after downbeat trade data
14-Jan-2019 (14:50)
Australia Stocks drop on weak China Dec trade data
14-Jan-2019 (14:27)
Japan Nikkei closed for a public holiday
14-Jan-2019 (14:26)
Hong Kong Stocks gain on improving sentiment
11-Jan-2019 (09:26)
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