MARKET
Second-hand home transactions in major cities rose over 20% on month in June, sales recovery likely to continue over next 2 – 3 months – research
Average daily transactions of second-hand homes in China’s 50 major cities in the first half of June jumped more than 20% from the level in May, according to data from Beike Research Institute.
Shares of Chinese home appliance maker trade higher on strong sales in 618 shopping festival, improving expectations
Shares of Chinese home appliance makers are trading higher on Monday, with an index tracking the sector up 3% for now, making it one of the best-performance sector in the A-share market so far today. Midea Group is gaining more than 4%, Hisense up 2.6%, and Gree Electric Appliance up more than 1.5%.
Koolearn Technology tumbles for 2nd straight trading day; JPMorgan slashed holdings, while Goldman Sachs bought shares
Koolearn Technology, online education and e-commerce arm of New Oriental Education, tumbles for the second consecutive trading day, diving nearly 19% in Hong Kong, bringing its share prices down nearly 40% from a peak of HK$33.15 seen last week.
HKMA expected to buy more HK dollar to defence peg with US dollar, said chief executive
The Hong Kong Monetary Authority (HKMA), the de facto central bank of the city, is expected to buy more Hong Kong dollars to defend the currency’s peg with the US dollar and the pace may also accelerate given the widening interest rate spreads between the city and the US, HKMA chief executive Eddie Yue Wai-man said.
Market Open Monday: Hong Kong stocks lower, A-shares mixed; yuan’s fixing weakens 197 pips
Hong Kong stocks open lower on Monday, with the benchmark Hang Seng Index down 0.6%, the Hang Seng China Enterprises Index down 0.57% and the Hang Seng Tech Index down 0.6%.
Macau’s casino gaming revenue may “go to near-zero levels for at least a few weeks” – J.P.Morgan
J.P. Morgan Securities (Asia Pacific) Ltd said in a note on Sunday that the early-morning alert of Covid-19 outbreak in Macau was the “largest local outbreak in over two years”, and that Macau’s casino gross gaming revenue (GGR) was “likely to go to near-zero levels”.