HK stocks track broader Asia softer, mainland developers jump

HONG KONG – Hong Kong shares tracked broader Asia lower on Monday, with investors staying away amid a week-long holiday on the mainland. The Hang Seng Index was down 143.32 points, or 0.83 percent, at 17,079.51, the lowest close since April 2009. The Hang Seng China Enterprises Index fell 0.97 percent. New World Development was the biggest loser on the Hang Seng Index, falling as much …

Hong Kong August retail sales slip 0.1%

People wearing face masks are seen at a shopping mall in Hong Kong, July 29, 2020. (WU XIAOCHU / XINHUA) Hong Kong retail sales saw a slight decline in August as financial market headwinds loom over the city, according to data released on Friday. The provisional figure for total retail sales last month edged down by 0.1 percent year-on-year to HK$28.6 billion ($3.64 billion), the …

HK investor and intermediary participation rises in 2021

Commuters travel past commercial buildings on a tram in the Central district of Hong Kong on June 21, 2021. (ANTHONY WALLACE / AFP) The participation of investors and the number of firms engaged in selling investment products increased last year despite the continuing pandemic and difficult market environment, according to a joint survey by the Securities and Futures Commission and the Hong Kong Monetary Authority. …

Survey: Majority of investors to boost investments under WMC

This Sept 27, 2018 general view shows residential and commercial buildings on Hong Kong island. Hong Kong was ranked the fourth globally on the ease of doing business in a World Bank annual report, according to the HKSAR government. (ANTHONY WALLACE / AFP) Over 80 percent of respondents who have invested in the Wealth Management Connect program plan to increase their investments in the following …

Hong Kong stocks end lower on Wednesday

SHANGHAI – The Hang Seng Index slumped 3.4 percent to 17,250.88, languishing around 11-year lows, while the Hang Seng China Enterprises Index ended lower 3.1 percent at 5,958.62. “Sentiment is driving the market, both in equities and currencies. There are not many people doing any bottom fishing. Since (the Hang Seng) is below the mid-March low, it’s hard to say where we’re heading for,” said …

Intermediaries’ and investors’ participation rises in 2021

Photo shows a view by the Victoria Harbour in Hong Kong, June 11, 2020. (LI GANG / XINHUA) The participation of investors and the number of firms engaged in selling investment products increased last year despite the continuing pandemic and difficult market environment, according to a joint survey by the Securities and Futures Commission and the Hong Kong Monetary Authority. The number of investors who …

Hong Kong stocks fall for 4th session amid global rate hikes

SHANGHAI – Hong Kong shares gave up gains to close down on Monday, declining for a fourth straight day, as global markets slid on overseas monetary tightening and recession worries. The Hang Seng Index ended 0.4 percent lower to 17,855.14, hovering around nearly 11-year lows, while the Hang Seng China Enterprises Index added 0.4 percent to 6,137.78 points. Hong Kong shares of HSBC Holdings, an index …

Hong Kong’s August exports value down 14.3%

This February 28, 2022 aerial photo shows the container terminal at Tsing Yi in Hong Kong. (PETER PARKS / AFP) HONG KONG – The value of Hong Kong's total goods exports decreased to HK$371.9 billion (US$47.37 billion) in August, down 14.3 percent compared with the same month last year, the Census and Statistics Department said Monday. The value of imports of goods also decreased 16.3 …

Hong Kong stocks approach 11-year low on Fed hike

SHANGHAI – Hong Kong stocks dropped to a near 11-year low on Thursday as another hefty US interest rate hike hurt risk appetite.  Hong Kong equity benchmark Hang Seng fell 1.6 percent to 18,147.95, the lowest closing level since Dec 20, 2011. READ MORE: Fed delivers another big rate hike; Powell vows to 'keep at it' Stocks across growth and other vulnerable sectors fell after the Hong …

Hong Kong’s consumer prices up 1.9% in August

A vendor sells dried produce on a street in Hong Kong on Sept 21, 2022. (PETER PARKS / AFP) HONG KONG – The overall consumer prices in Hong Kong rose 1.9 percent in August year-on-year, the same as that in July 2022, official data showed on Thursday. Netting out the effects of the government’s one-off relief measures, the year-on-year rate of increase in August’s composite …

Hong Kong stocks end higher on Friday

SHANGHAI – Hong Kong stocks ended higher on Friday. The Hang Seng Index rose 2.69 percent to 19,362.25, while the Hang Seng China Enterprises Index jumped 2.98 percent to 6,628.14. Tech giants listed in Hong Kong soared 2.8 percent, with food-delivery firm Meituan up more than 5 percent.

Hong Kong stocks close lower on Monday

SHANGHAI – Hong Kong stocks ended lower on Monday. The Hang Seng Index fell 1.2 percent to 19,225.70, and the Hang Seng China Enterprises Index dropped 1.4 percent to 6,577.53 points. Tech giants listed in Hong Kong declined nearly 2 percent, with index heavyweights Meituan, Tencent and Alibaba down between 1.4 percent and 3 percent. Electric vehicle maker BYD Co dropped 5.9 percent as Warren Buffett's Berkshire Hathaway …

Hong Kong shares close flat on Wednesday

SHANGHAI – Hong Kong stocks closed flat on Wednesday. The Hang Seng Index ended almost flat to close at 19,954.39, while the Hang Seng China Enterprises Index added 0.4 percent to 6,865.12 points. Shares in electric car company BYD Co Ltd plunged more than 7 percent in Hong Kong. Hong Kong shares of Alibaba declined roughly 1 percent, but the Hang Seng Tech Index finished up …

Hong Kong stocks close higher on Friday

SHANGHAI – Hong Kong shares ended higher on Friday. The Hang Seng Index and the Hang Seng China Enterprises Index both added roughly 1.0 percent to 20,170.04 and 6,920.99 points respectively. For the week, the Hang Seng Index added 2 percent, the most in two months. Hong Kong shares of PetroChina rose 3.3 percent after the company posted a record first-half profit, thanks to an increase in …

Hong Kong’s July exports value down 8.9%

In this Nov 5, 2021 file photo, shipping containers are seen at a port of Kwai Tsing Container Terminals in Hong Kong. (KIN CHEUNG / AP) HONG KONG – The value of Hong Kong's total goods exports decreased to HK$379.6 billion in July, down 8.9 percent compared with the same month last year, the Census and Statistics Department said Thursday. READ MORE: HK-mainland trade surges more …

HK’s Q2 GDP shrinks 1.3%, govt cuts 2022 forecast

Aerial photo taken on May 29, 2022 shows a view of the Two International Finance Centre (IFC) in Hong Kong. . (LI GANG/XINHUA) HONG KONG – Hong Kong's economy contracted 1.3 percent in the second quarter from the same period a year earlier, government data showed on Friday, following a weak performance in external trade during the period. It was the second straight quarter of …

Hong Kong stocks end higher on Thursday

SHANGHAI – Hong Kong stocks ended higher on Thursday, as softer-than-expected US inflation data prompted bets of less aggressive rate hikes from the Federal Reserve. Big tech companies listed in Hong Kong snapped a three-day losing streak, helping the city’s main stock benchmark rise the most in nearly one month. The Hang Seng Tech Index jumped 3.7 percent. The Hang Seng Index rose 2.4 percent …

Non-PC business delivers strong profit for Lenovo

In this undated file photo, a technician works on the production line of a Lenovo venture in Hefei, capital of East China's Anhui province. (PHOTO / XINHUA) Hong Kong-listed Lenovo Group reported Wednesday that its net profit increased by 11 percent to US$516 million in the first quarter of its fiscal year, amid the rapid digitalization trend and new opportunities in the IT sector.  Chairman …

Cathay Pacific narrows first-half loss as passenger numbers rise

In this picture taken on Aug 10, 2014, a woman walks past check-in counters for Hong Kong flag carrier Cathay Pacific at Hong Kong's international airport. (DALE DE LA REY / AFP) Hong Kong's Cathay Pacific Airways Ltd posted on Wednesday a first-half loss of HK$5 billion (US$637 million), narrowing from the prior year's HK$7.57 billion, as easing quarantine rules boosted passenger numbers. The airline …