• Sun, Mar 1, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--
 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

18 November 2024 10:50  |

Hong Kong Shares Climb to Begin the Week

Stocks in Hong Kong jumped 272 points or 1.4% to 19,702 in early trade on Monday after retreating in the prior six sessions, helped by robust gains in most sectors. Financial stocks led the advance, climbing around 2% after a Chinese regulator urged companies with share prices lower than book values to improve performance.

Tech and consumer sectors also saw strong gains, despite Goldman Sachs' recommendation to underweight Hong Kong stocks due to limited economic and earnings growth. Capping the upturn was fresh data showing foreign direct investment in China tumbled 29.8% yoy in the first ten months of the year. In the meantime, caution grew ahead of a monthly key lending rate fix later this week after the PBoC kept them unchanged at record lows in October.

Some early movers included JD Logistics (6.5%), Longfor Group (3.0%), and Tencent Hlds. (2.9%). By contrast, ecommerce giant Alibaba Group sank 2.2%, as it plans to raise $5 billion in multi-tranche dollar and offshore yuan bonds.

Source: trading Economics

Related News

MARKET UPDATE

European markets close higher Oil and gas stocks retreat

European markets closed higher Monday, gaining ground through the afternoon as investors reviewed the geopolitical situation ...

29 October 2024 11:01
MARKET UPDATE

European Markets Set to Open Lower Ahead of European Growth...

European markets are heading for a negative open on Wednesday as investors await the latest growth data from the region, the ...

30 October 2024 13:24
HANGSENG

Hang Seng Index Rises 0.8%; Alibaba Leads Advance

The Hang Seng Index opened 0.8% higher, climbing 146.05 to 18,159.21, as stocks gain for the sixth straight day in Hong Kong....

20 September 2024 09:07
HANGSENG

Hong Kong Stocks Rise But Face Weekly Loss

Hong Kong stocks rose 214 points, or 1.0%, to 20,700 in early trade on Friday after a slump in the previous session, supporte...

25 October 2024 10:42
BIAS23.com NM23 Ai