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☆ Global regulators seek to crack down on decentralised finance
▼ + stars: | 2023-09-07 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Sept 7 (Reuters) - Global securities regulators set out on Thursday their first blueprint to make participants in "decentralised finance" (DeFi)accountable for their actions and safeguard market stability. Such events have seen DeFi shrink from about $180 billion in late 2021 to about $40 billion currently, and the sector is also being used for moneylaundering, IOSCO said. Stakeholders in DeFi and their roles, and the organizational, technological, and communication mechanisms they use, tend to mimic those in traditional finance. Regulators have little standardised data on DeFI, a situation made worse by market participants using multiple pseudonymous addresses to obfuscate their activities, IOSCO said. Regulators should use existing laws or introduce new ones where needed to get a full picture of DeFI, including the identities of people and companies involved, IOSCO said.

Persons: Dado Ruvic, IOSCO, Tuang Lee Lim, Lim, Huw Jones, Frances Kerry Organizations: REUTERS, Terra, Regulators, DeFi, Thomson Locations: DeFi, IOSCO, United States

☆ Asia markets mixed ahead of trade data from China and Australia
▼ + stars: | 2023-09-07 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A view of the automated container port in Qingdao in east China's Shandong province. Zhang Jingang | Future Publishing | Getty ImagesAsia-Pacific markets were mixed on Thursday, following a sell off on Wall Street and ahead of trade data from China and Australia. In Australia, the S&P/ASX 200 slid 0.45% ahead of its August trade data release. Japan's Nikkei 225 rose marginally after eight straight days of gains, while the Topix was 0.1% higher. Futures for Hong Kong's Hang Seng index were mostly flat and stood at 18,449, compared with the HSI's close of 18,449.98.

Persons: Zhang Jingang, Kospi Organizations: Getty, Reuters, Nikkei Locations: Qingdao, Shandong province, Asia, Pacific, China, Australia

☆ Asia markets mixed after Saudi Arabia and Russia extend oil cuts
▼ + stars: | 2023-09-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Storage tanks and oil processing facilities operate beside the Arabian Sea at Saudi Aramco's Ras Tanura oil refinery and terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018. The upcoming OPEC+ meeting in Vienna will result in an oil production cut "of some historic kind", said CIO of Pickering Energy Partners, Dan Pickering. Asia-Pacific markets are mixed after Saudi Arabia and Russia extended voluntary oil production cuts to the end of the year. Saudi Arabia will extend its cut of 1 million barrels per day until the end of December, while Russia will reduce its oil exports by 300,000 barrels per day. Brent crude futures settled at $90.04 a barrel, closing above the $90 mark for the first time since November.

Persons: Dan Pickering Organizations: Pickering Energy Partners, Brent, . West Texas Locations: Saudi, Ras Tanura, Saudi Arabia, OPEC, Vienna, Asia, Pacific, Russia

☆ Evergrande soars 70% leading Chinese property stocks higher after Country Garden avoids default
▼ + stars: | 2023-09-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

NANJING, CHINA - AUGUST 18, 2023 - Aerial photo shows a residential area of Evergrande in Nanjing, East China's Jiangsu province, Aug 18, 2023. (Photo by Costfoto/NurPhoto via Getty Images)Shares of Chinese property developer Evergrande as much as 82% on Wednesday, leading gains on the Hang Seng Index . The stock has since pared its gains, but was still about 70% higher. The real estate sector was the top gainer on the HSI, but the overall index was still in negative territory, dragged by health-care and industrial stocks. Other stocks like Country Garden Holdings and Logan Group also surged, gaining as much as 26% and 28% respectively, while the Hang Seng Mainland Property Index was up about 4%.

Organizations: Getty, Garden Holdings, Logan Group, Mainland Locations: NANJING, CHINA, Evergrande, Nanjing, East China's Jiangsu

☆ Asia markets fall as Australia holds rates; investors assess inflation, business activity data
▼ + stars: | 2023-09-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

UBS is sticking by its view of a "softish" landing for the U.S. economy, saying inflation is moving closer to the Federal Reserve's target without a recession this year. "August was a tough month for investors," said Mark Haefele, global wealth management chief investment officer at UBS, noting that the S&P 500 ended last month down 1.6%. Last month's increase in core PCE came out well above the Fed's target, which could sustain the possibility of another rate hike, the analyst said. UBS is also watching for a potential rebound in savings rates and further cooling in the labor market. We expect US Treasury yields to fall by year-end as both US economic growth and inflation moderate," Haefele wrote.

Persons: Mark Haefele, Haefele, — Pia Singh Organizations: UBS, Fed Locations: U.S

☆ Asia markets set for mixed open; Australia and China data closely watched this week
▼ + stars: | 2023-09-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Loop Images | Universal Images Group | Getty ImagesAsia-Pacific markets are set for a mixed start to the week as investors look to key data from Australia and China later in the week. The Reserve Bank of Australia will release its rate decision on Tuesday, while China is expected to release its trade balance for August on Thursday and its inflation rate next weekend. In Australia, futures for the S&P/ASX 200 point to a slightly lower open, at 7,274 compared with the last close of 7,278.3. Futures for Hong Kong's Hang Seng index stood at 18,304, pointing to a weaker open compared with the HSI's close of 18,382.06 last Thursday. Hong Kong's markets were closed Friday as the city braced for super typhoon Saola, which made landfall over the weekend.

Organizations: Getty, Reserve Bank of Australia, Nikkei Locations: Melbourne, Australia, Asia, Pacific, China, Hong, Chicago, Osaka

☆ Hong Kong property stocks surge as China takes action to revive property sector
▼ + stars: | 2023-09-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Residential buildings stand at the Metro Town development, jointly developed by CK Asset Property Holdings Ltd., Nan Fung International Holding Ltd. and MTR Corp., in Hong Kong, China, on Thursday, Jan. 11, 2018. Hong Kong-listed property stocks surged on Monday, leading gains on the Hang Seng Index and powering the benchmark to be the top gainer in Asia. Shares of real estate companies like Evergrande , Logan Group and Longfor Group spiked over 9% on Monday, with Country Garden Holdings leading gains at 14.61% up. The Hang Seng Mainland Property Index was up 9.09%. Country Garden is still scheduled to pay $22 million in coupon payments on two U.S. dollar bonds it missed in early August.

Persons: Nan Organizations: Metro Town, CK Asset Property Holdings Ltd, Nan Fung International Holding Ltd, MTR Corp, Index, Logan Group, Longfor, Country Garden Holdings, Mainland, Garden, Reuters, Bloomberg, Malaysian Locations: Hong Kong, China, Asia

☆ US suffers surprise defeat to Lithuania at FIBA Basketball World Cup
▼ + stars: | 2023-09-03 | by ( Aimee Lewis | Jacob Lev | ) edition.cnn.com time to read: +1 min

CNN —The US suffered a surprise 110-104 loss to Lithuania at the FIBA Basketball World Cup in the Philippines on Sunday. Both countries, however, progress to Tuesday’s quarterfinals with Lithuania, as Group J top seeds, next facing Serbia and the US taking on Italy. Jonas Valančiūnas finished with 12 points, seven rebounds and two blocks, while Anthony Edwards scored a game-high 35 points for the US, tying Carmelo Anthony for the second-most points scored in a US Basketball FIBA game. “Congratulations to my players, but we need to have short memory to prepare for the second game,” he said, per FIBA. We needed to respond the way we did and next game we have to start the way we did in the second half.

Persons: Jonas Valančiūnas, Anthony Edwards, Carmelo Anthony, Kevin Durant, Donatas, Yong Teck Lim, Kazys Maksvytis, ”, Steve Kerr, Lithuania “, “, ” Kerr, “ It’s Organizations: CNN, FIBA Basketball, Sunday, Lithuania, US Basketball FIBA, Asia Arena, Getty, FIBA, USA Locations: Lithuania, Philippines, Serbia, Italy, Asia, Manila

☆ Asia markets set for mixed open ahead of China's factory activity data
▼ + stars: | 2023-08-31 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

CFOTO | Future Publishing | Getty ImagesAsia-Pacific markets are set for a mixed open as investors brace for China's August factory activity data. Economists polled are expecting the purchasing managers index to come in at 49.4, representing a softer rate of contraction compared with June's 49.3. Futures for Hong Kong's Hang Seng index stood at 18,544, pointing to a stronger open compared with the HSI's close of 18,482.86. Japan will release its retail sales data, as well as its preliminary industrial output figures for July on Thursday. However, futures for the Australian S&P/ASX 200 point to a lower open, at 7,263 compared with the last close of 7,297.7.

Organizations: Getty, China's, Nikkei Locations: South Korea, Chongqing, China, Asia, Pacific, Chicago, Osaka, Japan

☆ Asia markets set to mirror Wall Street's rise, ahead of Australia's July inflation numbers
▼ + stars: | 2023-08-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

High-rise buildings are seen near Victoria Harbour in Hong Kong, China, July 24, 2023. (Photo by Costfoto/NurPhoto via Getty Images) Costfoto | Nurphoto | Getty ImagesAsia-Pacific markets are set to mostly rise, largely mirroring moves on Wall Street as U.S. stocks saw a Nvidia-fueled tech rally on Tuesday. Investors will be bracing for Australia's inflation numbers for July, which is expected to come in at 5.2%, according to a Reuters poll and softer than the 5.4% seen in June. Japan's Nikkei 225 is also set to rise, with the futures contract in Chicago at 32,455 and its counterpart in Osaka at 32,430 against the index's last close of 32,226.97. In contrast, futures for the Australian S&P/ASX 200 point to a marginally lower open, at 7,209 compared with the last close of 7,210.5.

Organizations: Getty, Nurphoto, Nvidia, Nikkei Locations: Victoria Harbour, Hong Kong, China, Asia, Pacific, Chicago, Osaka

☆ Asia markets mostly set to rise as Wall Street comes off winning day, but Australia set to fall
▼ + stars: | 2023-08-29 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are mostly set to rise as Wall Street came off a winning day on Monday. Names like Meta and Apple traded slightly higher, while Nvidia added 1.8%. Japan's unemployment rate for July also came in higher than expected, at 2.7% compared with the 2.5% expected in a Reuters poll. Futures for Hong Kong's Hang Seng index stood at 18,300, pointing to a stronger open compared with the HSI's close of 18,130.74. However in Australia, futures for the S&P/ASX 200 point to a lower open, at 7,137 compared to the last close of 7,159.

Organizations: Apple, Nvidia, Nikkei Locations: Asia, Pacific, Chicago, Osaka, Australia

☆ Singapore's OCBC bank suffers brief outage, shares gain 1%
▼ + stars: | 2023-08-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

SINGAPORE — Southeast Asia's fourth largest bank OCBC suffered a short outage on Monday that affected its digital and card banking channels. At 9.43 a.m. Singapore time, the bank said in a Facebook post that it was facing "technical problems impacting our banking channels." About an hour later at 10.37 a.m., OCBC announced that card and branch services were restored, followed by ATM services. In a statement to CNBC, OCBC sought to assure customers there was no security breach. We are investigating the cause of the technical problem and will provide an update as soon as we can," an OCBC spokesperson said.

Persons: OCBC Organizations: OCBC, CNBC Locations: SINGAPORE, Southeast, Singapore

☆ Asia markets set to start the week mixed after Jackson Hole announcements
▼ + stars: | 2023-08-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Chicago Federal Reserve President Austan Goolsbee said Friday the central bank should stick to its goal to bring inflation down to 2%. "I'm uncomfortable with declaring victory when it's clearly not victory," Goolsbee said. "We stated before we got into this what the target was going to be. I just don't feel like you can change your inflation target until you hit it that." Generally considered a more dovish member of the Federal Open Market Committee, Goolsbee did not commit to a policy position.

Persons: Austan Goolsbee, Jerome Powell, CNBC's Steve Liesman, Jackson, it's, Goolsbee, Jeff Cox Organizations: Chicago Federal, Federal, Market Locations: , Wyoming

☆ Evergrande shares plunge as much as 87% as trading resumes after 17 months
▼ + stars: | 2023-08-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

NANJING, CHINA - AUGUST 18, 2023 - Aerial photo shows a residential area of Evergrande in Nanjing, East China's Jiangsu province, Aug 18, 2023. (Photo by Costfoto/NurPhoto via Getty Images)Shares of the world's most indebted property developer China Evergrande Group plunged as much as 87% on its open on Monday, trading for the first time since March 21, 2022. Shares fell to as low as 22 Hong Kong cents on Monday, compared to its last close at 1.65 Hong Kong dollars per share on March 18, 2022. The resumption of trade comes as the company posted a loss of 39.25 billion yuan ($5.38 billion) for the six months ended June, a smaller loss compared to the 86.17 billion yuan loss the same period a year ago. Revenue came in at 128.81 billion yuan, rising from 89.28 billion yuan in June 2022.

Organizations: Getty, China Evergrande, Hong, Hong Kong Locations: NANJING, CHINA, Evergrande, Nanjing, East China's Jiangsu, Hong Kong

☆ De-dollarization still a long way off, Indian minister says after BRICS talk of a common currency
▼ + stars: | 2023-08-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

However, the U.S. dollar will remain the currency of choice for transactions in international oil markets, he told CNBC's Tanvir Gill. watch nowThe U.S. dollar has long been the main global oil currency, including for purchases by India. Stock Chart Icon Stock chart iconOil has also been settled in Indian rupees. In light of this, Puri was asked if the Indian rupee could be part of the de-dollarization trend, especially in the oil market? But these international arrangements, trading arrangements, payment arrangements, these have been in place for a long time," he added.

Persons: Hardeep Singh Puri, CNBC's Tanvir Gill, It's, SWIFT, Puri, I'm, Hardeep Singh, Luiz Inácio Lula da Silva Organizations: U.S, Gas, CNBC, India, Reuters, India Oil Corp, United Arab Emirates, Affairs, Gas Minister Locations: New Delhi, Russia, Ukraine, Moscow, China, Saudi Arabia, India, Malaysia, Hardeep Singh Puri, South Africa

☆ Japan's Nikkei down nearly 2%, leading losses in Asia ahead of Powell's Jackson Hole speech
▼ + stars: | 2023-08-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

People shopping along the streets of Shinsaibashi in Osaka, Japan. Asia-Pacific markets fell across the board as investors prepared for signals on U.S. monetary policy from central bankers' comments at the Jackson Hole meeting on Friday, including a speech by U.S. Federal Reserve chair Jerome Powell. In Asia, the core inflation rate for Japan's capital Tokyo came in at 2.8% for August, slightly below the 2.9% expected by economists polled by Reuters. The core inflation rate strips out prices of fresh food. Overall inflation for Tokyo was recorded at 2.9%, lower than the 3.2% seen in July.

Persons: Jerome Powell Organizations: U.S . Federal, Reuters Locations: Shinsaibashi, Osaka, Japan, Asia, Pacific, Tokyo

☆ China suspends all seafood imports from Japan after treated radioactive water is released from Fukushima
▼ + stars: | 2023-08-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

China on Thursday suspended the import of all aquatic products from Japan, including edible seafood, hours after its neighbor started releasing treated radioactive water from the stricken Fukushima nuclear power plant. Seafood imports from Japan include red sea bream, scallops, and mackerel, according to Japan's Ministry of Agriculture, Forestry and Fisheries. The discharge of the treated water was expected to start after 1 p.m. Toyko time, according to media reports citing state owned electricity firm TEPCO. The IAEA will have a presence on site "for as long as the treated water is released, in line with Director General Grossi's commitment for the IAEA to engage with Japan on the discharge of ALPS treated water before, during, and after the treated water discharges occur." ALPS refers to the Advanced Liquid Processing System that at Fukushima, which removes radioactive material from the wastewater before it is released.

Organizations: Tokyo Electric Power Company, Japan's Ministry of Agriculture, Forestry, Fisheries, TEPCO, International Atomic Energy Agency, IAEA, Japan's Embassy Locations: Tokyo, China, Japan, Fukushima, London

☆ Asian semiconductor stocks surge after Nvidia posts stellar second-quarter results
▼ + stars: | 2023-08-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

In this article 981-HK1347-HK2330-TWNVDA Follow your favorite stocks CREATE FREE ACCOUNTAerial photo shows the factory of Taiwan Semiconductor Manufacturing Company (TSMC) in Nanjing, Jiangsu province, Aug 1, 2023. Costfoto | Nurphoto | Getty ImagesSemiconductor-related stocks in Asia surged after chipmaker Nvidia posted second-quarter results that beat estimates and issued optimistic guidance for the current period. Shares of Taiwan Semiconductor Manufacturing Corp , which manufactures all of Nvidia's advanced AI chips, climbed as much as 1.81% on Thursday, while counterpart Samsung Electronics gained as much as 2.24%. In an Aug. 21 note, Morgan Stanley analysts estimated that TSMC will generate 6% of revenue from AI-related semiconductors in 2023. Stock Chart Icon Stock chart icon

Persons: Morgan Stanley Organizations: HK, Taiwan Semiconductor Manufacturing Company, Nurphoto, Getty, Semiconductor, Nvidia, Taiwan Semiconductor Manufacturing Corp, Samsung Electronics Locations: Nanjing, Jiangsu, Asia

☆ Asia markets largely set to rise ahead of central bank decisions in South Korea and Indonesia
▼ + stars: | 2023-08-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

The Seoul city skyline early on December 16, 2020. (Photo by Ed JONES / AFP) (Photo by ED JONES/AFP via Getty Images)Asia-Pacific markets are largely set to rise ahead of central bank rate decisions from South Korea and Indonesia, although both central banks are expected to hold their benchmark policy rates unchanged at 3.5% and 5.75% respectively. South Korea's producer price index climb 0.2% year-on-year, the 13th straight month that growth in the PPI has slowed. Investors will also be assessing chipmaker's Nvidia's earnings that were released early Thursday. The company beat estimates for the fiscal second quarter and issued optimistic guidance for the current period.

Persons: Ed JONES, ED JONES Organizations: Getty Images, PPI Locations: Seoul, AFP, Asia, Pacific, South Korea, Indonesia

☆ Analyst discusses Naver and SK Telecom and their development of AI services for enterprise customers
▼ + stars: | 2023-08-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalyst discusses Naver and SK Telecom and their development of AI services for enterprise customersJames Lim of Dalton Investments discusses South Korea's dominance in the memory chip market and companies that are developing artificial intelligence services targeted at enterprise customers.

Persons: James Lim, Dalton Organizations: SK Telecom, Dalton Investments

☆ Asia markets poised for fall ahead of private business activity reports from Australia and Japan
▼ + stars: | 2023-08-23 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Singapore has overtaken Japan to boast of the world's most powerful passport, the Henley Passport Index showed. This comes as investors assess private business activity surveys from Australia and Japan, as well as inflation figures from Singapore. Asia-Pacific markets are set to fall, reversing gains markets made across the board on Monday. In Australia, futures for the S&P/ASX 200 point to a lower open, at 7,059 compared with the last close of 7,121.6. Futures for Hong Kong's Hang Seng index stood at 17,655, pointing to a weaker open compared to the HSI's close of 17,791.01.

Organizations: Singapore ., Juno Bank, Japan's Nikkei, PMI Locations: Singapore, Japan, Australia, Singapore . Asia, Pacific, Chicago, Osaka

☆ Is nuclear energy the answer to a sustainable future? Experts are divided
▼ + stars: | 2023-08-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

Nuclear power has been touted as a proven, safe way of producing clean energy, but why isn't it more widely adopted? Schroders noted that nuclear power is not only scalable, but much cleaner — emitting just 10-15 grams of CO2 equivalent per kilowatt hour. That's the reason why nations are having a second look at nuclear power, Shellenberger said. A report by global campaigning network Greenpeace in March 2022 was of the position that besides the commonly held concern of nuclear safety, nuclear energy is too expensive and too slow to deploy compared to other renewables. Greenpeace acknowledged that "all in all, nuclear power stations score comparable with wind and solar energy."

Persons: Sean Gallup, Michael Shellenberger, Schroders, Shellenberger, we're, CNBC's, Adam Fleck, hasn't, Fleck Organizations: Getty, Greenpeace, CNBC, Governments, International Energy Agency, Soviet Union Locations: U.S, Ukraine, Fukushima, Japan

☆ Asia markets largely rise as 10-year U.S. Treasury yield hits 16-year high
▼ + stars: | 2023-08-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The ICC International Commerce Centre, and Hong Kong's brand new museum of visual culture, Victoria harbor, Hong Kong, China. Ucg | Universal Images Group | Getty ImagesAsia-Pacific markets largely rose even as yields of U.S. 10-year Treasury bonds hit levels not seen in over a decade. The benchmark 10-year Treasury note yield hit a high of 4.34%, reaching its highest level since November 2007. Overnight, SoftBank Group's chip unit Arm filed for a Nasdaq listing that is expected to be the largest of the year. Futures for Hong Kong's Hang Seng index point to a rebound for the index and stood at 17,680,compared with the HSI's close of 17,623.29.

Persons: Kospi Organizations: ICC International Commerce Centre, Ucg, Getty, Nikkei, Nasdaq Locations: Victoria, Hong Kong, China, Asia, Pacific

☆ North Korea's Kim blasts 'irresponsible' top officials for flood damage
▼ + stars: | 2023-08-22 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

[1/6] North Korean leader Kim Jong Un gives a field guidance in South Pyongan Province, North Korea, in this undated photo released by North Korea's Korean Central News Agency (KCNA) on August 21, 2023. KCNA via REUTERS Acquire Licensing RightsSEOUL, Aug 22 (Reuters) - North Korean leader Kim Jong Un has lashed out at top officials for their "irresponsible" response to flood damage, saying they had "spoiled" the national economy, state media reported on Tuesday. Such irresponsibility and lack of discipline from officials is "mainly attributable to the feeble work attitude and wrong viewpoint of the premier of the cabinet," Kim said. This week's visit is the latest in a series of inspections the North Korean leader has made of flood-hit farmlands amid mounting concerns over a food crisis in the reclusive country. Lim Eul-chul, a professor of North Korean studies at South Korea's Kyungnam University, said Kim's harsh criticism could herald a cabinet reshuffle.

Persons: Kim Jong Un, Kim Jong, Kim, KCNA, Kim Tok Hun, Kim Tok, Lim Eul, Lim, Soo, hyang Choi, Miral Organizations: North, Korean Central News Agency, KCNA, REUTERS Acquire, Rights, North Korean, Korea's Kyungnam University, Thomson Locations: South Pyongan Province, North Korea, Rights SEOUL

☆ Chinese property developer Country Garden to be removed from Hang Seng Index on Sept. 4
▼ + stars: | 2023-08-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

The headquarters of China's developer Country Garden Holdings in Foshan, in China's southern Guangdong province. Chinese real estate company Country Garden Holdings is set to be removed from Hong Kong's Hang Seng Index on Sept. 4. The index's operator said Country Garden will be replaced by pharmaceutical firm Sinopharm. Property management firm and affiliate Country Garden Services Holdings will also be removed from the Hang Seng China Enterprises Index. The Hang Seng China Enterprises Index serves as a benchmark that reflects the overall performance of mainland securities listed in Hong Kong.

Organizations: Garden Holdings, Garden Services Holdings, Hang Seng China Enterprises, Seng China Enterprises Locations: Foshan, China's, Guangdong, Hong Kong

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