The onshore Chinese yuan jumped by 648 basis points against the greenback to the highest in over one week on Monday as the US dollar fell amid heightened expectations that the US Federal Reserve will be less aggressive with monetary policy after the collapse of the Silicon Valley Bank.
China’s three largest telecoms operators continued to rally on Monday, with China Mobile surging more than 9% hit 97.87 yuan at one
Hong Kong stocks rallied as the impact of the Silicon Valley Bank’s collapse is easing, Premier Li Qiang’s speech lifted market confidence and the Chinese yuan strengthened sharply against the US dollar amid expectation of slower rate hikes by the US Federal Reserve.
Shares of Kaisai Group tumbled 25% in Hong Kong, Ronshine China sliding more than 11%, Powerlong down more than 4%, CIFI Holdings down nearly 4%, Times China down nearly 3%.
Macquarie said it’s positive about China Unicom’s strong performance in industry internet, which grew 29% in 2022 from the previous year and accounting for 20% of its total revenue.
Hong Kong broadcaster TVB’s parent company, Television Broadcasts Limited, continues surging on Wednesday, jumping as much as over 97% to hit HK$14.36
Country Garden Services tumbles as much as 4.8% to hit HK$14.6 in Hong Kong, bringing its market value below HK$50 billion.
Shares of non-ferrous metal companies are sliding across the board in Hong Kong, with China Minmetals plunging 5%, Zhaojin Mining down 4%, China National Gold International and Zijin Mining down 2%, and Shandong Gold, Aluminum Corporation of China, and Luoyang Molybdenum down 1%.
Chinese oil companies stage a strong rally, with CNOOC surging by more than 5% to hit a new record high of HK$12.68, while its Shanghai-listed shares jumping by the daily limit of 10% to hit an all-time high of 18.92 yuan at one point.
The Hong Kong Exchanges and Clearing plans to lower the proposed listing threshold for Specialist Technology Companies, local newspaper South China Morning Post reported citing people with the knowledge of the matter, in a move to keep the city’s attractiveness as IPO destination.
Shares of China National Offshore Oil Corporation (CNOOC) gains 3.5% to close at HK$11.98, marking a new record high. Sinopec gain 3.5%
Shares of Lenovo Group continued to rise in Hong Kong, surging over 5% to hit HK$ 7.7 at one point, marking a new high since May 2022.
Chinese e-commerce giant JD.com gained as much as 3.2% to hit HK$190.7 after launching 10 billion subsidy campaign JD.com officially launched the
Shares of Chinese coal companies slide across the board in the A-share market, with Shanxi Coking Coal sliding 5.3% as of 10:40
Shares of Country Garden Service are slumping more than 10% in Hong Kong, after issuing profit warning.
Shares of Hong Kong broadcaster TVB surge 36% to hit new high since May 2021 on live-streaming cooperation with Taobao Shares of
Jin Zhuanglong, China’s Minister of Industry and Information Technology, said China has built the world’s largest and most advanced 5G network, with
China’s telecom operators continue rallying on Monday, with China Mobile surging as much as 7.6% in Shanghai to hit a new record high of 93.59.
Chinese aerospace and defence stocks rally on Monday, with an index tracking the sector compiled by Wind Information up 1.3% as of
The Cross-Border Wealth Management Connect, launched for more than a year, has been running largely steadily, although the participation level of the scheme has been undesirable amid pandemic.
Shares of property developer China Vanke are sliding more than 5% in Hong Kong, while its Shenzhen-listed shares are down more than
Chinese short video platform Kuaishou Technology said it has submitted an application for an yuan counter to support the new Hong Kong
China’s top telecommunication operators continue to rally, with an index tracking the sector compiled by Wind Information surging by more than 6.5%, making it the best-performing sector in the A-share market.
UBS remains optimistic about Chinese stock market, expecting improvement in macroeconomic conditions and corporate profits to further boost the market.
Shares of property developers are rallying in Hong Kong, with Yuexiu Property surging 6.4%, while CIFI Holdings and Poly Developments jumping nearly 6%, and Powerlong, Greentown China, and Longfor Group up more than 4%.
There is more than 80% chance for China Telecom’s Hong Kong-listed share price to gain in the next 60 days, with target
The Hang Seng Indexes Company has announced the results of the latest review on the constituent stocks of the Hang Seng Indexes.
Huatai Securities believes that 29 stocks may be added to the Southbound trading of the Mainland – Hong Kong Stock Connect schemes.
The Hang Seng Index fell 0.79% to close at 19,785.9, the Hang Seng China Enterprises Index down 1.33% and the Hang Seng Tech Index sliding 1.62%.
Local cosmetics retailer Sa Sa International is leading the gains with a rise of more than 4%, followed by 3.8% gain in Bosideng International Holdings and 3% rise in Chinese Estates Holdings.
Hong Kong Chief Executive John Lee said that the mask mandate for all locations will be lifted starting from March 1.
Shares of Telecom Service One Holdings surged over 12% in Hong Kong, ZTE Corporation jumping nearly 7%, while China Communication Services and Yangtze Optical Fibre and Cable up more than 2%.