Post Tagged with: "Money News"

Gold price rises above US$1,300 as investors rush for sanctuary amid the bloodbath in global stock markets

Gold price rises above US$1,300 as investors rush for sanctuary amid the bloodbath in global stock markets

Gold pierced the US$1,300 level to extend a new year rally. Investors flocked to the metal with global equities in retreat, signs of a slowdown stacking up, and the oldest of havens showing its mettle as exchange-traded funds draw in increased flows. Futures spiked as much as 0.4 per cent […]

Shanghai?s stock index ends 2018 as the world?s biggest loser as trade war, slowing Chinese economy weigh on confidence

Shanghai?s stock index ends 2018 as the world?s biggest loser as trade war, slowing Chinese economy weigh on confidence

Shanghai?s stock benchmark ended 2018 as the world?s worst market performer for a second year, falling 24.6 per cent over 12 months as an unprecedented trade war between China and the United States weighed on the Chinese economy and crimped corporate earnings. The city?s key stock index closed the year […]

?Flash crash? rips through Asia?s currency markets, exacerbated by algorithmic programming that sends the yen soaring

?Flash crash? rips through Asia?s currency markets, exacerbated by algorithmic programming that sends the yen soaring

It took seven minutes for the yen to surge through levels that have held through almost a decade. Traders are still seeking to piece together what happened just before 9:30am in Sydney, when orders came to sell Australia?s dollar and Turkey?s lira against the yen. While some pointed to risk […]

China National Tobacco, the world?s largest cigarette maker, plans Hong Kong IPO for international unit

China National Tobacco, the world?s largest cigarette maker, plans Hong Kong IPO for international unit

China National Tobacco, a state monopoly that is by far the biggest cigarette maker in the world, plans to list its international unit on the Hong Kong stock exchange even as pressure increases on the government to curb smoking. The unit, China Tobacco International, is primarily responsible for procuring overseas […]

High-rolling VIPs help Macau casinos pull in gaming revenues of US$37.6 billion in 2018

High-rolling VIPs help Macau casinos pull in gaming revenues of US$37.6 billion in 2018

Gambling revenue in Macau rose 14 per cent in 2018, the second consecutive year of gain as demand to wager in the Chinese territory continued to rebound from a prolonged slump. December was also the 29th straight month where revenue in China?s only legal gambling hub rose versus the same […]

The tenuous truce in the US-China trade war will decide whether Hong Kong?s best IPO party ever continues in the new year

The tenuous truce in the US-China trade war will decide whether Hong Kong?s best IPO party ever continues in the new year

On July 12, the Hong Kong stock exchange (HKEX) conducted an unprecedented ritual to start its trading day: four gigantic gongs were struck one after the other by executives of eight companies to commemorate the debut of their stocks. The eight companies, including Chinese live-streaming application Inke, had to share […]

Hong Kong regains global IPO crown from New York in 2018 thanks to its listing reforms

Hong Kong regains global IPO crown from New York in 2018 thanks to its listing reforms

The Hong Kong stock exchange reclaimed its crown as the No 1 IPO market in the world in 2018, beating last year?s winner New York, as listing reforms led to the highest fundraising in eight years, according to Refinitiv data. Hong Kong?s main board had a 17.6 per cent share […]

Hong Kong stocks buoyed by Tencent, but Hang Seng ends lower on a weekly basis

Hong Kong stocks buoyed by Tencent, but Hang Seng ends lower on a weekly basis

Hong Kong stocks closed moderately higher on Friday in a session dominated by news that Chinese officials will resume new game approvals, lifting tech giant Tencent Holdings, even as the index ended lower for the week. The Hang Seng Index rose 129.89 points during the session, advancing 0.5 per cent, […]

Here are five things to look forward to next year in China?s residential property industry

Here are five things to look forward to next year in China?s residential property industry

Will Beijing ease its curbs on the property market, as the all-important economic engine is widely expected to slow down? That was the biggest question for China property watchers awaiting signals from this week?s Central Economic Work Conference, which sets economic policy direction for the world?s second-largest economy for the […]

Chinese banks? shares sink after Beijing reportedly tells them to control profit to support economy

Chinese banks? shares sink after Beijing reportedly tells them to control profit to support economy

Plummeting shares in Chinese banks dragged down stock markets on Friday morning, after the central government reportedly ordered lenders to ?control profit growth? and increase funding support for small and private businesses amid a worsening economic slowdown. In Hong Kong, all Chinese lenders were in the red at the lunch […]