Month: February 2023
Chinese non-ferrous metal companies’ stocks trade lower after US labor data beat expectation
In Hong Kong, China Hongqiao is sliding more than 6%, Zijin Mining, Shandong Gold, China Nonferrous Mining and China Gold International down more than 5%, Zhaojin Mining, Luoyang Molybdenum, Lingbao Gold, etc. are more than 4%.
Aluminium giant China Hongqiao tumble in Hong Kong after expects net profit to tumble 40% in 2022
China Hongqiao, the world’s top private aluminium producer, said that its net profit for the year ended 31 December 2022 is expected to tumble by about 40% from a year earlier.
ING Bank raised forecast of China’s 2023 GDP growth to 5% from 4.3%
ING Bank raised the forecast of China’s GDP growth in 2023 to 5% from its previous projection of 4.3%, according to a research note.
Grand Pharmaceutical’s new drup for treatment of brain tumors granted approval
A new drug for the treatment of brain tumors manufactured by Grand Pharmaceutical Group (HK: 0512) has been given the green light by Chinese regulators.
China’s outstanding real estate loans slowed significantly in 2022, property development loans showed pickup in Q4 – PBOC data
China’s outstanding loans to the real estate sector stood at 53.16 trillion yuan at the end of 2022, rising by 1.5% from a year earlier, slowing by 6.5 percentage points from the previous year.
Foxconn’s Jan revenue surged 48.2% on year in JanÂ
Taiwan’s Foxconn, the world’s largest contract electronics maker and major iPhone assembler for Apple Inc, said that its revenue in January jumped 48.2% from a year earlier to a record high of T$660.4 billion ($22 billion), up 4.9% from previous month.
China should accelerate reforms to maximise economic potential – IMF
China should reaccelerate reforms such as tackling the shrinking labour force and weak productivity growth to maximise its economic potential, the IMF said on Friday.
Morgan Stanley received regulatory approval to be actual controller of China fund management firm
Morgan Stanley has received regulatory approval to be the actual controller of its Chinese fund management firm Morgan Stanley Huaxin Fund Management Co Ltd, the China Securities Regulatory Commission said on Friday.
Hong Kong’s live-in home price index hit highest in nine weeksÂ
Hong Kong’s Centa-City Leading Index (CCL), a gauge of lived-in home prices compiled by Centaline Property, rose to 158.75, up 0.56% from the previous week, hitting the highest in nine weeks.Â
