Hong Kong stocks erase losses on bets Beijing to boost stimulus to counter US policies

Hong Kong stocks advanced, erasing earlier losses, on speculation Beijing will boost and front load its fiscal stimulus plan to counter any backlash from US policies on Chinese exports in Donald Trump’s second term as president.

The Hang Seng Index rose 0.5 per cent to 20,635.92 at 10.30am local time. The Tech Index was little changed. The CSI 300 Index gained 0.1 per cent, while the Shanghai Composite Index advanced 0.2 per cent. Chinese stocks earlier fell, mirroring the 1.8 per ent overnight slump in the Nasdaq Golden Dragon Index in New York, in reaction to Trump’s election victory.

Hotpot chain Haidilao surged 7 per cent to HK$17,56 while brewer China Resources Beer advanced 6.3 per cent to HK$31.35. Sportswear maker Li Ning jumped 5.4 per cent to HK$17.58 and Macau casino operator Galaxy Entertainment added 4 per cent to HK$36.

Donald Trump beat Democrat Kamala Harris to become America’s 47th president and his second term in office. He had campaigned to impose as high as 60 per cent tariffs on Chinese goods. Analysts said he could further restrict US investments in Chinese industries to protect US manufacturing.

03:36

Donald Trump secures enough Electoral College votes to win 2024 US presidential election

Donald Trump secures enough Electoral College votes to win 2024 US presidential election

“For China, the direct earnings impact from higher tariffs is likely to be limited, given more than 85 per cent of MSCI China’s primary revenue comes from mainland China,” said Tai Hui, Asia-Pacific chief market strategist at JPMorgan Asset Management. “Beijing’s fiscal and monetary policies could offer some offset.”

Source link

Visited 1 times, 1 visit(s) today

Related Article

India roars ahead of China to top Asian IPO rankings

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. India has eclipsed China as Asia’s top market for company listings this year, as buoyant stock prices spark a boom in initial public offerings. Propelled by companies including Swiggy and Hyundai Motor, India will be

Is Nvidia (NVDA) a Buy as Wall Street Analysts Look Optimistic?

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock’s price, but are they really important? Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let’s see

JPMorgan Says These 2 Value Stocks Are Among Its ‘Best Idea’ Picks for 2025

With just one week left of 2024, the markets are riding high. The S&P 500 is up over 25% for the year, and most analysts are expecting further gains in 2025. Watching the situation, JPM’s chief US equity strategist Dubravko Lakos-Bujas has noted several factors buttressing the US markets. “US equities should remain supported by

NVIDIA’s Hidden Gem. How AI Will Redefine Its Stock Value!

In the rapidly evolving landscape of technology, NVIDIA stands out not just for its groundbreaking graphics processing units (GPUs) but increasingly for its pivotal role in artificial intelligence innovation. As the AI sector balloons, NVIDIA is strategically positioned to capture even more of the market share, potentially pushing its stock beyond just tech enthusiasts’ expectations.

The Best High-Yield Dividend ETF to Invest $2,000 in Right Now

Looking for a high-yield ETF to boost your income in the long run? It’s never too early to start planning your nest egg’s dividend payouts, and this recently introduced ETF could be just what you need. High-yield funds can be risky. In a perfect world, every ultra-generous dividend yield would be a direct result of

4 Dividend Stocks to Double Up on Right Now

You can pat yourself on the back if you’re thinking of loading up your portfolio with dividend-paying stocks — because they’re surprisingly strong wealth builders. (If you weren’t thinking of doing so, you can start now!) Dividend payers aren’t slouches. They’re not sleepy stocks only suitable for grandparents. Plenty of high-performing growth stocks pay dividends

This Superstar AI Stock Is Down 28% From Its High. Is It Time to Buy?

The stock is putting out some of the best financial numbers on Wall Street yet trades at a far cheaper valuation than other high performers. Growth stocks can be a wild ride. The long-term upside usually comes with stomach-churning volatility. Monday.com (MNDY 1.27%) is currently experiencing ups and downs. At the time of this writing,

Should You Buy the Dip in AMD Stock?

AMD stock just hit a 52-week low. Following a sharp rebound in 2023, the capital markets have been scorching hot this year — with the S&P 500 and Nasdaq Composite gaining 24% and 30%, respectively, as of market close on Dec. 20. Of course, this year’s hottest investment theme — artificial intelligence (AI) — remained unchanged from

A Once-in-a-Decade Investment Opportunity: 1 Artificial Intelligence (AI) Semiconductor Stock to Buy Hand Over Fist and Hold for Years (Hint: It’s Not Nvidia)

Nvidia has become synonymous with the term “semiconductor,” but there’s another player looming in the background that could emerge as a more lucrative opportunity in the long run. When it comes to the semiconductor industry, no other company has become as well-known as Nvidia. The company specializes in designing graphics processing units (GPU), a unique

I Invest in the Stock Market for My Children for Christmas; No Gifts

Lel Smits and her husband invest in stocks for their children as Christmas gifts to build wealth. Smits prioritizes financial literacy and chooses stocks from familiar companies for her kids. She also creates stock certificates and drawings to help her children visualize their investments. This as-told-to essay is based on a conversation with Lel Smits,

Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought

The aggressive growth fund investor has slowed her shopper this holiday season, but she still made time to build up some of her existing positions. Even the perpetually moving Cathie Wood takes a step back over the holidays. The co-founder, CEO, and investment manager for Ark Invest has been slowing the pace of her portfolio

History Says the Nasdaq Will Soar in 2025. 1 Stock-Split Stock to Buy Before It Does.

This semiconductor and data center player has grown like wildfire over the past couple of years and shows no signs of slowing. The Nasdaq Composite has repeatedly reached new heights in 2024, notching more than 110 new all-time highs. Its record run has been fueled by a string of encouraging developments. The accelerating adoption of

Five key factors analysts think could shape the markets in 2025

After a year of new records on the stock market, 2025 is expected to bring more rallies. But what are the key factors that could move market sentiment in the new year? ADVERTISEMENT Global equities reached record highs in 2024, mainly due to generative artificial intelligence and the global economic recovery.  Building on the positive

1 Growth Stock Down 30% to Buy Right Now

Uber’s recent pullback represents a golden buying opportunity. Uber‘s (UBER -0.26%) stock hit an all-time high of $86.34 on Oct. 11. That marked a 92% gain from its IPO price of $45. But since then, its stock has pulled back about 30% amid concerns about its cautious near-term guidance and a Federal Trade Commission (FTC)

Here Are All 44 Stocks Warren Buffett Holds for Berkshire Hathaway’s $291 Billion Portfolio

Despite Buffett overseeing stakes in nearly four-dozen securities, the lion’s share of Berkshire’s invested assets have been put to work in seven top ideas. There aren’t too many money managers on Wall Street who command the attention of professional and everyday investors quite like Warren Buffett. Since becoming CEO of Berkshire Hathaway (BRK.A 0.80%) (BRK.B

Stock market holiday: Are BSE, NSE open or closed today for Christmas 2024?

India’s stock exchanges—the BSE and the NSE—will be closed on Wednesday, December 25, for trading due to Christmas festivities. The trading holiday coincides with other stock markets in the US, UK, and Europe, which will remain shut for Christmas. BSE Sensex and NSE Nifty50 failed to sustain opening gains and ended in red after a

0
Would love your thoughts, please comment.x
()
x