|Day's range||26,650.13 - 26,985.08|
|52-week range||24,540.63 - 30,280.12|
Hong Kong’s hedge funds saw their biggest withdrawals since the global financial crisis in the third quarter, as local equities sold off and concerns grew about the stability of the capital markets hub. Traders yanked a net $1bn from the city’s hedge funds, figures published by information services provider Eurekahedge on Friday showed — the biggest outflows the industry has seen since early 2009. The shift of capital comes as Hong Kong grapples with its most severe political crisis since the former British colony’s handover from the UK to China in 1997.
Global stocks were in the red as data showed China’s economy grew at its slowest pace in almost three decades and Mario Draghi said there were “mild signs” of overvaluation in financial and property markets within the euro zone. The S&P 500 closed 0.4 per cent lower on Friday. For the week, the benchmark still managed to advance 0.5 per cent and now sits 1.3 per cent away from July’s record high.
Global markets were boosted Thursday by news that Britain and the European have agreed on an outline Brexit deal after days of intense negotiations. Benchmarks in London and Frankfurt rallied and Wall Street was positioned for gains when the market opens in New York. Although news of a Brexit breakthrough had investors optimistic, the deal must still be formally approved by the bloc and ratified by the European and U.K. Parliaments.
Global stocks were mostly weaker on Wednesday as geopolitical tension stemming from Brexit and Hong Kong were weighed up alongside US earnings and disappointing retail sales figures. The S&P 500 ended ...
The Hang Seng China AH Premium Index, which measures the price differential between 69 stocks dual-listed in the two jurisdictions, has jumped to 130.7, meaning that Shanghai and Shenzhen-listed A shares typically now trade at a premium of 30.7 per cent to their Hong Kong-listed H share equivalents. Some stocks, such as Flat Glass Group, Yangtze Optical Fibre and Cable and China Galaxy Securities are trading at premiums of 160-180 per cent on the mainland market to their price in Hong Kong.
US stocks trimmed their gains late in the session as the Trump administration announced it had agreed a limited deal on trade with China. Washington agreed to not raise tariffs, due to start next week, on Chinese imports in exchange for some concessions from the Asian nation, primarily on agricultural purchases. The S&P 500 finished 1.1 per cent higher, with news of the deal prompting a late sell-off.
US stocks staged a late session sell-off as the Trump administration’s decision to impose visa restrictions on Chinese government officials connected to the mass detention of Uighurs in western China revived concerns about trade tension between the world’s two biggest economies. The late tumble saw the S&P 500 finish 1.6 per cent lower, the fourth move of 1 per cent or more in either direction — or its third 1-plus per cent drop — in the space of six sessions. The Nasdaq Composite shed 1.7 per cent and the Dow Jones Industrial Average was down 1.2 per cent.
Hong Kong's bourse has scrapped its unsolicited $39 billion approach for London Stock Exchange Group after failing to convince LSE management and investors to back a move that could have transformed both global financial services giants. Last month's surprise cash-and-shares approach threatened to upend the LSE's $27 billion plan to buy data and analytics firm Refinitiv. The Hong Kong exchange had said the LSE would have to ditch the Refinitiv deal for its offer to go ahead.
World shares edged higher on Tuesday after U.S. Treasury Secretary Steven Mnuchin confirmed that China-U.S. trade talks were due to resume in two weeks' time. Germany's DAX was up less than 0.1% at 12,346, while the CAC 40 in Paris rose 0.2% to 5,641. Markets in China were steady after China's central bank governor said policy will stay "stable and healthy," suggesting Beijing has no plans to join the United States and Europe in cutting interest rates to stimulate economic growth.
Just as the Fed is set to ponder an interest rate cut amid fears of a US slowdown, the People’s Bank of China has kept its one-year interest rate steady.
Global stock markets sank Monday after crude prices surged following an attack on Saudi Arabia's biggest oil processing facility. Market benchmarks in Europe dropped after Asian markets mostly closed lower, while Wall Street futures were down slightly. Benchmark U.S. crude jumped $4.64 per barrel to $59.49 following the attack on oil producer Saudi Aramco's Abqaiq facility for which Yemeni rebels claimed responsibility.
World stock markets rose cautiously Thursday as investors awaited the European Central Bank's decision on how much stimulus it will provide the economy. Sentiment also was brightened by hopes that China and the U.S. are moving to ease trade tensions. Analysts say the ECB is likely to cut a key interest rate further below zero on Thursday and could take other steps, including restarting a bond-buying program to pump newly created money into the economy.
HONG KONG/LONDON/NEW YORK (Reuters) - The London Stock Exchange's board will meet in coming days to decide on the Hong Kong bourse's surprise $39 billion takeover proposal, a source close to the British company said on Thursday, as the market poured cold water on the deal. The unsolicited takeover offer is not expected to succeed given a preference among LSE investors for the exchange to complete its $27 billion proposed acquisition of data and analytics group Refinitiv, the source close to the LSE said. The exchange wants to focus on executing that deal, rather than risk it being derailed by the Hong Kong bourse, the source said.
Consumer lender Home Credit is poised to offer the biggest test of Hong Kong's capital markets since China's Alibaba delayed plans for a $15 billion listing last month because of the political turmoil engulfing the city. The Prague-based lender, which has a sizeable Chinese business, could launch its initial public offering as soon as this month, and is seeking to raise more than $1 billion from the offering in the first of a series of significant IPOs planned in the city. Hong Kong's markets have been weakened by frequently violent pro-democracy protests and political turmoil over the past three months, slashing a 12% gain for the year to June on the blue-chip Hang Seng Index to a 3% positive performance by Monday.