Latest news with #HangSeng
Business Recorder
9 hours 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%.
The Star
10 hours ago
- Business
- The Star
FBM KLCI perks up in late-morning trade as regional sentiment improves
KUALA LUMPUR: A late-morning rally in Bursa Malaysia's blue chips leading up to the lunch break took the FBM KLCI into positive territory on Friday. The benchmark index, which had been range-bound for much of the early session, jumped 3.35 points to 1,504.79 in a surge of buying interest marked by gains in financial heavyweights. Broader market sentiment, however, remained subdued as the number of declining issues outweighed advancing by a ratio 1.87-to-1. There was also subdued trading on the market with 1.15 billion shares changing hands for a low value of RM663.67mil as investors awaited the outcome of trade negotiations of Malaysian policymakers in Washington. In banking counters, CIMB rose 11 sen to RM6.69 and Maybank gained seven sen to RM9.67. Hong Leong Bank climbed 16 sen to RM19.56, followwed by eight sen for RHB to RM6.32 and three sen for Public Bank to RM4.22. Nestle reversed its earlier losses to put on RM16 sen to RM71.72 while Kuala Lumpur Kepong gained 24 sen to RM19.96. Of actives, PUC rose 0.5 sen to 2.5 sen, Astro dropped 1.5 sen to 16 sen and Pavilion REIT shed two sen to RM1.52. In regional markets, there was some rebound in equities prices after US President Donald Trump said he would wait two weeks before deciding on a potential attack on Iran. Hong Kong's Hang Seng snapped three days of losses to rise 1.15% to 23,504. China's blue-chip CSI300 added 0.24% to 3,852 while the country's composite index was little changed at 3,364. Japan's Nikkei slid 0.12% to 38,443.
Al Etihad
10 hours 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
11 hours ago
- Business
Asian shares are mixed and oil gains as world waits to see if US will join Israel's war against Iran
MANILA, Philippines -- Crude oil prices rose and Asian shares were trading mixed on Friday as investors awaited more clarity on whether or not the U.S. will join Israel's war against Iran. U.S. futures edged lower after Wall Street was closed on Thursday for the Juneteenth holiday. U.S. benchmark crude oil added 15 cents to $73.65 per barrel, while Brent crude, the international standard was up 19 cents at $76.89 per barrel. Oil prices have been gyrating as fears rise and ebb that the conflict between Israel and Iran could disrupt the global flow of crude. Iran is a major producer of oil and also sits on the narrow Strait of Hormuz, through which much of the world's crude passes. Investors remained wary after the White House said President Donald Trump could decide on whether to launch an attack on Israel within the next two weeks, but that he 'still believes diplomacy is an option,' said Anderson Alves, a trader at ActivTrades. Trump's tariffs agenda remains another major factor weighing on markets. Tokyo's Nikkei 225 index edged 0.1% higher to 38,538.14 after Japan reported that its core inflation rate, excluding volatile food prices, rose to 3.7% in May, adding to challenges for Prime Minister Shigeru Ishiba's government and the central bank. 'Core Japanese inflation rose more than expected in May. Even so, the Bank of Japan is likely to prioritize the negative impact of U.S. tariffs, Min Joo Kang of ING Economics said in a commentary. 'For now, it's more concerned about the risk that US trade policies could break the virtuous circle of wage growth and inflation." Hong Kong's Hang Seng index jumped 1.2% to 23,504.59, while the Shanghai Composite gained 0.1%, reversing earlier losses, to 3,364.83. China's central bank kept its key 1-year and 5-year loan prime rates unchanged, as expected. Australia's S&P/ASX 200 shed 0.3% to 8,500.40 while South Korea's Kospi gained 1.2% to 3,014.05. 'Risk sentiments were cautious as Iran-Israel tensions continued roiling,' Mizuho Bank Ltd. said in a commentary. On Thursday, the Bank of England kept its main interest rate at a two-year low of 4.25%, citing risks that the conflict between Israel and Iran will escalate. The U.S. dollar slipped to 145.28 Japanese yen from 145.46 yen. The euro rose to $1.1530 from $1.1498.
The Hill
11 hours ago
- Business
- The Hill
Asian shares are mixed and oil gains as world waits to see if US will join Israel's war against Iran
MANILA, Philippines (AP) — Crude oil prices rose and Asian shares were trading mixed on Friday as investors awaited more clarity on whether or not the U.S. will join Israel's war against Iran. U.S. futures edged lower after Wall Street was closed on Thursday for the Juneteenth holiday. U.S. benchmark crude oil added 15 cents to $73.65 per barrel, while Brent crude, the international standard was up 19 cents at $76.89 per barrel. Oil prices have been gyrating as fears rise and ebb that the conflict between Israel and Iran could disrupt the global flow of crude. Iran is a major producer of oil and also sits on the narrow Strait of Hormuz, through which much of the world's crude passes. Investors remained wary after the White House said President Donald Trump could decide on whether to launch an attack on Israel within the next two weeks, but that he 'still believes diplomacy is an option,' said Anderson Alves, a trader at ActivTrades. Trump's tariffs agenda remains another major factor weighing on markets. Tokyo's Nikkei 225 index edged 0.1% higher to 38,538.14 after Japan reported that its core inflation rate, excluding volatile food prices, rose to 3.7% in May, adding to challenges for Prime Minister Shigeru Ishiba's government and the central bank. 'Core Japanese inflation rose more than expected in May. Even so, the Bank of Japan is likely to prioritize the negative impact of U.S. tariffs, Min Joo Kang of ING Economics said in a commentary. 'For now, it's more concerned about the risk that US trade policies could break the virtuous circle of wage growth and inflation.' Hong Kong's Hang Seng index jumped 1.2% to 23,504.59, while the Shanghai Composite gained 0.1%, reversing earlier losses, to 3,364.83. China's central bank kept its key 1-year and 5-year loan prime rates unchanged, as expected. Australia's S&P/ASX 200 shed 0.3% to 8,500.40 while South Korea's Kospi gained 1.2% to 3,014.05. 'Risk sentiments were cautious as Iran-Israel tensions continued roiling,' Mizuho Bank Ltd. said in a commentary. On Thursday, the Bank of England kept its main interest rate at a two-year low of 4.25%, citing risks that the conflict between Israel and Iran will escalate. The U.S. dollar slipped to 145.28 Japanese yen from 145.46 yen. The euro rose to $1.1530 from $1.1498.
