Connect to share and comment

Hong Kong stocks open 0.49% higher

Hong Kong shares rose 0.49 percent at the open of trade Tuesday following a positive lead from Wall Street. The benchmark Hang Seng Index added 109.86 points to 22,498.42 in early exchanges. dan/ac

China banks strike back against threat from Internet finance

By Gabriel Wildau SHANGHAI (Reuters) - China's brick-and-mortar banks are launching a counter-attack against the assault on their business from Alibaba and other Internet heavyweights, in a bid to staunch the outflow of bank deposits into high-yielding online investment products.

Hong Kong stocks close down 1.19%

Hong Kong shares fell 1.19 percent Thursday, tracking regional bourses after a key index of Chinese manufacturing data slumped to a seven-month low. The benchmark Hang Seng Index lost 270.44 points to 22,394.08 on turnover of HK$71.12 billion ($9.17 billion). British bank HSBC said a preliminary reading for its China purchasing managers' index (PMI), which tracks manufacturing activity, fell to a seven-month low of 48.3 in February, in a sign of diminishing strength in the world's second-largest economy.

Hong Kong stocks end 0.34% higher

Hong Kong shares rose 0.34 percent on Wednesday, reversing earlier losses, as investors await US housing data after a broadly positive lead from Wall Street. The benchmark Hang Seng Index added 76.8 points to end at 22,664.52 on turnover of HK$60.06 billion ($7.74 billion). Chinese Internet giant Tencent shed 0.34 percent to HK$582.5, while HSBC Holdings gained 1.8 percent to HK$84.85, Evergrande added 1.68 percent to HK$3.64 and China Mobile ended flat, edging up 0.07 percent to HK$73.7.

China launches cross-border yuan payment services in FTZ

China has launched yuan-denominated cross-border payment services in its first free trade zone (FTZ), the central bank said, in an effort to facilitate trade and further internationalisation of the Chinese currency. Five companies -- AllinPay, 99Bill, ChinaPay, Orient Electronic Payment and Shengpay -- were given the greenlight to process yuan payments for cross-border trade in the FTZ, the Shanghai office of the People's Bank of China said late Tuesday in a statement.

Hong Kong stocks open flat

Hong Kong shares were flat in opening trade on Wednesday after Wall Street closed mostly higher as investors weighed mixed US data. The benchmark Hang Seng Index edged up 0.06 percent, or 12.88 points, to 22,600.6. pj/st

Hong Kong stocks close up 1.07%

Hong Kong shares closed 1.07 percent higher on Monday, taking their lead from strong gains on Wall Street as investors regained confidence following the Federal Reserve's move to reduce the stimulus. The benchmark Hang Seng Index added 237.53 points to 22,535.94 on turnover of HK$60.31 billion ($7.7 billion), in line with broad rises in markets across Asia.

Hong Kong stocks up 0.86% at open

Hong Kong shares opened 0.86 percent higher on Monday, taking their lead from a strong close on Wall Street as investors regained confidence following the Federal Reserve's move to reduce stimulus. The benchmark Hang Seng Index rose 192.21 points to 22,490.62. erf/pj

HK property tycoons hit with additional charges in bribery case

HONG KONG (Reuters) - Thomas and Raymond Kwok, the billionaire co-chairmen of Sun Hung Kai Properties Ltd <0016.HK>, had additional charges filed against them on Thursday in a bribery investigation surrounding Asia's largest developer, the company said on Thursday. The Sun Hung Kai probe, Hong Kong's biggest corruption case since its anti-graft agency was formed nearly 40 years ago, involves one of Asia's most powerful families and the world's second-largest property company with a market capitalization of $33 billion.

Hong Kong stocks end 1.78% higher

Hong Kong shares rose 1.78 percent Tuesday, following a positive lead from Wall Street as investors await the new Federal Reserve chief's first testimony to Congress. The benchmark Hang Seng Index added 383.72 points to end at 21,962.98 on turnover of HK$66.69 billion ($8.61 billion), its biggest rise in nearly three months as investors looked to snap up beaten down Chinese stocks. And Shanghai posted a third-straight gain since reopening after the week-long Lunar New Year holiday.
Syndicate content