Latest news with #CSI300Index
Business Recorder
7 hours ago
- Business
- Business Recorder
HK stocks log worst week since April
SHANGHAI: Hong Kong stocks rebounded on Friday but still logged their steepest weekly decline since April, as the lack of new stimulus measures this week weighed on investor sentiment amid broader global tensions surrounding the Iran-Israel conflict. The Hong Kong stock market had witnessed a steady recovery over recent weeks, rebounding from losses triggered by reciprocal tariffs imposed by US President Donald Trump. The benchmark Hang Seng Index has advanced 17% year-to-date. 'The Lujiazui forum this week offered no new measures to boost the capital market, which was a potential letdown for some investors,' said Jason Chan, senior investment strategist at Bank of East Asia. The two-day gathering of top financial regulators and market participants at the annual Lujiazui Forum wrapped up on Thursday, delivering few surprises for market participants. Sentiment is expected to remain weak, with the persistent risk of an escalation in Middle East tensions continuing to cast a shadow over markets, Chan said. 'The market could stay range-bound in the short term.' China kept its benchmark lending rates unchanged on Friday, as expected, after rolling out sweeping monetary easing measures last month to support the economy. China's blue-chip CSI300 Index closed 0.1% higher, while the Shanghai Composite Index lost 0.1%. Hong Kong benchmark Hang Seng was up 1.3%. For the week, the Hang Seng Index was down 1.5%, the biggest drop since the week of April 7, while the CSI300 Index was down 0.5%. Hong Kong's pullback was also exacerbated by fading interest from mainland investors. Their purchases via the Stock Connect scheme have slowed sharply in recent weeks, with net buying this week amounting to just 16 billion yuan ($2.23 billion) — only 20% of the peak recorded in April. The CSI Liquor Index rose 2.2%, leading gains onshore, after the index lost 12% this year on weak consumer demand and a government ban on civil servants dining out. Amid uncertainties related to China-US trade friction, onshore share valuations may be range-bound at low levels near term, UBS strategist Lei Meng said in a note. 'We expect limited downside, and potential upside catalysts mainly from stronger policy easing, the continual entry of medium or long-term funds and structural reforms,' Meng said. Shares of 'Blind Box' toymaker Pop Mart dropped nearly 4% after state media outlet People's Daily called for stricter regulation of the blind box industry, citing expert views. The stock has fallen 13% this week, but soared 165% this year.
Mint
a day ago
- Business
- Mint
HK stocks log worst week since April as absence of fresh stimulus weighs
(Updates to market close) SHANGHAI, June 20 (Reuters) - Hong Kong stocks rebounded on Friday but still logged their steepest weekly decline since April, as the lack of new stimulus measures this week weighed on investor sentiment amid broader global tensions surrounding the Iran-Israel conflict. The Hong Kong stock market had witnessed a steady recovery over recent weeks, rebounding from losses triggered by reciprocal tariffs imposed by U.S. President Donald Trump. The benchmark Hang Seng Index has advanced 17% year-to-date. "The Lujiazui forum this week offered no new measures to boost the capital market, which was a potential letdown for some investors," said Jason Chan, senior investment strategist at Bank of East Asia. The two-day gathering of top financial regulators and market participants at the annual Lujiazui Forum wrapped up on Thursday, delivering few surprises for market participants. Sentiment is expected to remain weak, with the persistent risk of an escalation in Middle East tensions continuing to cast a shadow over markets, Chan said. "The market could stay range-bound in the short term." China kept its benchmark lending rates unchanged on Friday, as expected, after rolling out sweeping monetary easing measures last month to support the economy. China's blue-chip CSI300 Index closed 0.1% higher, while the Shanghai Composite Index lost 0.1%. Hong Kong benchmark Hang Seng was up 1.3%. For the week, the Hang Seng Index was down 1.5%, the biggest drop since the week of April 7, while the CSI300 Index was down 0.5%. Hong Kong's pullback was also exacerbated by fading interest from mainland investors. Their purchases via the Stock Connect scheme have slowed sharply in recent weeks, with net buying this week amounting to just 16 billion yuan ($2.23 billion) — only 20% of the peak recorded in April. The CSI Liquor Index rose 2.2%, leading gains onshore, after the index lost 12% this year on weak consumer demand and a government ban on civil servants dining out. Amid uncertainties related to China-U.S. trade friction, onshore share valuations may be range-bound at low levels near term, UBS strategist Lei Meng said in a note. "We expect limited downside, and potential upside catalysts mainly from stronger policy easing, the continual entry of medium or long-term funds and structural reforms," Meng said. Shares of "Blind Box" toymaker Pop Mart dropped nearly 4% after state media outlet People's Daily called for stricter regulation of the blind box industry, citing expert views. The stock has fallen 13% this week, but soared 165% this year. ($1 = 7.1837 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Sherry Jacob-Phillips)
Business Recorder
a day ago
- Business
- Business Recorder
Hong Kong stocks set for biggest weekly loss since April on trade, Mideast jitters
SHANGHAI: Hong Kong stocks rebounded on Friday after three sessions of losses but remained on track for their biggest weekly loss since April, as Sino-US trade talks and Middle East tensions weighed on investor sentiment. Mainland China shares edged higher. China's blue-chip CSI300 Index climbed 0.2% by the lunch break while the Shanghai Composite Index gained 0.1%. Hong Kong benchmark Hang Seng was up 1.2%. China kept its benchmark lending rates unchanged, after rolling out sweeping monetary easing measures last month to support the economy. Amid uncertainties related to China-US trade friction, onshore share valuations may be range-bound at low levels near term, said UBS strategist Lei Meng in a note. 'We expect limited downside, and potential upside catalysts mainly from stronger policy easing, the continual entry of medium or long-term funds and structural reforms,' Meng said. The CSI Liquor Index rose 2.6%, leading gains onshore. Shares of 'Blind Box' toymaker Pop Mart dropped more than 5% after state media outlet People's Daily called for stricter regulation of the blind box industry, citing expert views. The stock has fallen 13% so far this week, but soared 162% this year. Israel and Iran's air war entered a second week and fears of a potential US attack on Iran hung over markets in Asia, impacting overall risk sentiment. The Hang Seng Index was down 1.6% this week, on track for the largest decline since April 7, if losses hold. The CSI300 Index was down 0.3%.
Al Etihad
a day ago
- Business
- Al Etihad
Hong Kong stocks set for biggest weekly loss since April on trade, Mideast jitters
20 June 2025 09:22 SHANGHAI (REUTERS)Hong Kong stocks rebounded on Friday after three sessions of losses but remained on track for their biggest weekly loss since April, as Sino-US trade talks and Middle East tensions weighed on investor sentiment. Mainland China shares edged blue-chip CSI300 Index climbed 0.2% by the lunch break while the Shanghai Composite Index gained 0.1%. Hong Kong benchmark Hang Seng was up 1.2%.China kept its benchmark lending rates unchanged, after rolling out sweeping monetary easing measures last month to support the uncertainties related to China-US trade friction, onshore share valuations may be range-bound at low levels near term, said UBS strategist Lei Meng in a note."We expect limited downside, and potential upside catalysts mainly from stronger policy easing, the continual entry of medium or long-term funds and structural reforms," Meng and Iran's conflict entered a second week and fears of a potential US attack on Iran hung over markets in Asia, impacting overall risk sentiment. The Hang Seng Index was down 1.6% this week, on track for the largest decline since April 7, if losses hold. The CSI300 Index was down 0.3%. Stock Markets Continue full coverage
Mint
3 days ago
- Business
- Mint
China stocks up slightly as financial forum offers few surprises; HK shares down
SHANGHAI, - China stocks ended slightly higher on Wednesday as top financial regulators at the annual Lujiazui Forum delivered few fresh policy signals. Hong Kong shares fell as geopolitical tensions heightened. ** China's blue-chip CSI300 Index edged up 0.1%, while the Shanghai Composite Index was roughly flat. ** Hong Kong's benchmark index Hang Seng dropped 1.1%. ** China's securities regulator announced plans on Wednesday to establish a new segment on Shanghai's tech-heavy STAR market to host pre-profit growth companies and support innovation. ** The watchdog also said it would support listing of companies with frontier technologies, in sectors such as artificial intelligence and aerospace. ** With few policy surprises from the forum, investors turned their focus to the upcoming July Politburo meeting for clearer signals on economic support. ** Tech shares rose as investors drew inspiration from regulators' support toward the sector. ** Electronics, communications and AI shares led market gains. ** liquor shares rebounded for the third straight session, after tumbling to their lowest level since September 2024, hit by news that some of China's civil servants were banned from dining out in groups of more than three. ** Risk sentiment remained fragile on Wednesday as Iran and Israel launched fresh missile strikes at each other, extending their air war into a sixth day. ** Hong Kong shares of Chinese electric vehicle maker Li Auto fell nearly 5% to their lowest since May 9. ** Tech majors listed in Hong Kong dropped 1.5%, tracking overnight losses in their U.S.-listed counterparts during the New York session. This article was generated from an automated news agency feed without modifications to text.
