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Search resuls for: "Shenzhen Component"


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The view from the observation deck at Shanghai Tower in Shanghai, China, on Sunday, April 9, 2023. Photographer: Qilai Shen/Bloomberg via Getty ImagesAsia-Pacific markets are set to rise ahead of key economic releases from China. Compared to a low base seen in April a year ago, market watchers are largely expecting a rebound in growth. In mainland China, the Shanghai Composite and the Shenzhen Component saw their best days since May 8 and March 20, respectively. South Korea's Kospi and Kosdaq also saw gains on Tuesday, advancing 0.66% and 0.75% respectively, while Australia's S&P/ASX 200 slipped 0.15%.
(Photo by Marc Fernandes/NurPhoto via Getty Images)Asia-Pacific markets are trading mixed after the U.S. posted more data that showed inflation was easing. The producer price index for April, posted a year-on-year increase of 0.2%, against a Dow Jones estimate for 0.3% and after declining 0.4% in March. In mainland China, the Shanghai Composite fell 1.12% and closed at 3,272.36, dragged lower by in academic and educational services stocks. Hong Kong's Hang Seng index also fell 0.7% ahead of its first-quarter GDP figures. The Topix also climbed 0.64% and ended at 2,096.39, led by health care and utilities stocks.
New Governor of Bank of Japan Kazuo Ueda waits for Japanese Prime Minister Fumio Kishida in Tokyo on April 10, 2023. Asia-Pacific markets largely rose on Friday after the Bank of Japan kept its monetary policy unchanged in the first monetary policy meeting chaired by new governor Kazuo Ueda. Japanese markets were all higher and led gains in the region, with the Nikkei 225 closing 1.4% higher at 28,856.44 following the central bank's decision and the Topix rose 1.23% to end the day at 2057,48. Hong Kong's Hang Seng index climbed 0.42% in its final hour, while the Hang Seng Tech index jumped 1.12%. In mainland China, the Shenzhen Component ticked up 1.08% to end at 11,338.67 and the Shanghai Composite rose 1.14% to close at 3,323.27.
Asia markets mixed as Wall Street banking fears reignite
  + stars: | 2023-04-26 | by ( Lim Hui Jie | ) www.cnbc.com   time to read: +1 min
Asia-Pacific markets were trading mixed on Wednesday after banking fears were reignited on Wall Street. Investors were also watching Australia's inflation numbers for the first quarter of 2023, which slowed to 7% year-on-year, down from a 23-year high of 7.8% the previous quarter. In Japan, the Nikkei 225 fell 0.71% to end the day at 28,416.47 , and the Topix dropped 0.89% to finish at 2,023.9. Mainland Chinese markets ended mixed, with the Shenzhen Component up 0.33% to finish at 11,185.68 and the Shanghai Composite closing 0.02% lower at 3,264.1 . Hong Kong's Hang Seng index climbed 0.7% up, while the Hang Seng Tech index rose 1.32%.
Hong Kong markets led losses in Asia on Tuesday, with the Hang Seng sliding 1.97% as Asian stocks largely fell ahead of earnings from Big Tech firms. The Hang Seng Tech index saw a larger loss, tumbling 4% as technology stocks led losses on the HSI. Alphabet, Microsoft, Amazon and Meta are among the high-interest names scheduled to announce their results for the first quarter. "Everyone's just waiting for tech earnings," said Chris Harvey, head of equity strategy at Wells Fargo Securities. "This is a very, very busy week for earnings, so we're just treading water."
"China's growth recovery and north Asia's earnings rebound in 2024 remain our key investment themes and overweight areas," Goldman Sachs' strategists, led by Timothy Moe, wrote in a Saturday note. It's been a dramatic quarter for Asia-Pacific stock markets, but strategists are expecting the region to be in better shape than its global peers. Stocks in the Asia-Pacific were mixed on the first day of trade of the second quarter of the year, with economists predicting China's recovery will cushion the dampening effect of high global interest rates on the regional economy. "China's growth recovery and north Asia's earnings rebound in 2024 remain our key investment themes and overweight areas," Goldman Sachs' strategists, led by Timothy Moe, wrote in a Saturday note. The Goldman strategists said their views are supported by strong activity data seen in the previous quarter.
People watch fireworks on the street during the Torch Festival on January 27, 2023 in Jieyang, China. Asia-Pacific shares traded higher as investors looked ahead to the Federal Reserve's Wednesday meeting, as well as some economic data in the region. Japan's Nikkei 225 gained 0.8% and the Topix climbed 0.7% even as Japan's factory activity logs a third consecutive month of contraction in January. South Korea's Kospi advanced 0.74% and the Kosdaq rose 0.78%, as South Korea's export numbers in January fell 16.6% on an annualized basis. Hong Kong's Hang Seng index rose 0.47% in early trade.
LONDON — European stocks are expected to open higher on Tuesday as positive sentiment continues in the final trading days of 2022. Germany's DAX is seen opening 98 points higher at 14,036, France's CAC 40 up 44 points at 6,549 and Italy's FTSE MIB up 159 points at 24,033, according to IG. The U.K.'s FTSE index is closed Tuesday for a public holiday. Stateside, U.S. stock futures rose on Monday night as investors looked to see whether a Santa Claus rally will appear before year-end. Markets were closed Monday for the Christmas holiday.
People walk through Exchange Square in Hong Kong on October 28, 2022. Major lenders Standard Chartered and HSBC expressed confidence in the rebound of Hong Kong's and China's economy, even as China ramps up its Covid measures and Hong Kong's economy posted its worst quarter in more than two years. Asia-Pacific markets traded higher on Wednesday, after stocks on Wall Street saw a second day of gains on an inflation print that came in cooler than expected. The Hang Seng index in Hong Kong rose 0.6% in its final hour of trade. In Japan, the Nikkei 225 gained 0.72% to 28,156.21 while the Topix was 0.6% higher to 1,977.42.
Pedestrians cross a road in front of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, Oct. 29, 2020. Asia-Pacific shares opened in positive territory as investors look ahead to a highly anticipated Federal Reserve meeting and U.S. CPI data reading. Hong Kong's Hang Seng index was up 0.67% after Chief Executive John Lee announced further easing of Covid restrictions. The Nikkei 225 in Japan added 0.40% to close at 27,954.85, while the Topix inched up 0.43% to 1,965.68. The MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.29%.
Hong Kong CNN Business —Global markets fell on Monday after widespread protests in China against the country’s stringent Covid-19 restrictions roiled investor sentiment. The markets tumble comes after protests erupted across China in an unprecedented show of defiance against the country’s stringent and increasingly costly zero-Covid policy. US stock futures — an indication of how markets are likely to open — fell, with Dow futures down 0.3%, or 108 points. Oil prices dropped sharply, with investors concerned that surging Covid cases and protests in China may sap demand from one of the world’s largest oil consumers. US crude futures fell 2.7% to trade at $74.22 a barrel.
Disney — Shares jumped 5% after the company reappointed Bob Iger as chief executive officer, effective immediately and 11 months after he left Disney. Carvana — Shares of the used car company slid 13% after Argus downgraded the stock to sell from hold. Energy stocks — Energy stocks were the biggest losers in the S&P 500 midday after oil prices fell to their lowest levels since early January following a Wall Street Journal report that Saudi Arabia and other OPEC oil producers are discussing an output increase. Still, Diamondback Energy and Halliburton fell 4% and 2.9%, respectively. Intel — Shares dipped more than 2% after Cowen downgraded Intel to market perform from outperform, according to StreetAccount.
China announced a shortening of its quarantine requirements last week, while simplifying travel rules and adjusting its monitoring regime. China has stood firm on its zero-Covid policy even as countries around the world adopt a "live with the virus" approach. Fund manager Brian Arcese believes the market reaction reflects the "underlying fundamentals that earnings will really start to improve." Meanwhile, Arcese, who is a portfolio manager at Foord Asset Management, said the firm has a China exposure of about 20%. It should benefit from the re-opening of China as tourism gradually recovers to pre-Covid levels," he added.
That helps explain why expectations for Monday’s meeting between President Joe Biden and Chinese leader Xi Jinping on the sidelines of the G20 summit were set so low. But to the surprise of many, the meeting featured televised images of smiling officials, handshakes, and a commitment to reopening lines of communication on urgent global issues. Analysts said the meeting could lay the groundwork for stronger ties between the world’s top economic powerhouses. Speaking after the three-hour meeting, Biden described it as an “open and candid” discussion, saying he planned to manage the China relationship “responsibly.”“We’re going to compete vigorously, but I’m not looking for conflict,” Biden told reporters. “The meeting met or exceeded the low expectations set by the Biden administration and was a mild positive for global stability,” he said.
Citi says BYD is one of its "top" buy ideas among Chinese stocks and expects shares in the automaker to soar by more than 260% over the next 12 months. Jeff Chung, an equity analyst at Citi, reiterated his buy rating and price target on the stock after the company announced earnings on Oct. 28. Chung's price target for BYD is significantly higher than other analysts'. The median price target from six analysts covering the stock gives the stock a potential upside of 60.8%, according to FactSet data. Citi analysts recommended investors in China adopt a "barbell strategy" — a mix of conservative stocks to protect against downside risks and "high-conviction growth stocks" — in their base case scenario.
Chinese internet giant Alibaba has said it will increase its share buyback program from $15 billion to $25 billion. The Invesco Golden Dragon China ETF, which tracks the Nasdaq Goldman Dragon China Index, plunged 20% to hit a new 52-week low. The index holds 65 companies whose common stocks are publicly traded in the U.S. and the majority of whose business is conducted within the People's Republic of China. Shares of Chinese companies listed in the U.S. dropped sharply Monday after Beijing tightened President Xi Jinping's grip on power, souring investor sentiment for non-state-driven companies. "Stocks based in the world's second largest economy are 'uninvestable' again," Bernstein sales trading desk's Mark Schilsky said in a note Monday.
Hong Kong CNN Business —China released stronger-than-expected GDP and other economic data on Monday, just a day after Xi Jinping clinched a historic third term in power following the conclusion of a major political gathering. But Hong Kong’s Hang Seng (HSI) Index, a key gauge of overseas investor sentiment on China, tumbled at Monday’s open and headed for its biggest losses in more than seven months. On Monday, Hong Kong’s benchmark Hang Seng Index opened down and sank 4.6% in early trading, poised for its biggest daily decline since March. The Hang Seng Tech Index, which tracks 30 largest technology firms listed in Hong Kong, plunged nearly 6%. Meanwhile, the Shanghai Composite Index, which trades on the tightly controlled domestic market in China, dropped 0.5%.
Shares in the Asia-Pacific fell on Monday ahead of major central bank meetings this week. The Hang Seng index in Hong Kong was 0.89% lower in the final hour of trade, with the Hang Seng Tech index down 1.93%. In mainland China, the Shanghai Composite dipped 0.35% to 3,115.60 and the Shenzhen Component also declined 0.48% to 11,207.04. The People's Bank of China cut its 14-day reverse repo rates. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.59%.
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