Market Update
China Policy Officials and PBoC Governor Vow to Offer More Stimulus Support
Li Chen
06 Jan, 2025
Hong Kong
Investor sentiment in China and Hong Kong remained subdued amid worries of ongoing economic growth deceleration and lack of corporate earnings growth.
The Hang Seng index declined 0.4%, and the mainland-focused CSI 300 index dropped 0.2% amid fading hopes of imminent steps by Beijing to revive consumer spending.
Over the weekend the People's Bank of China announced its plans to offer more liquidity support for the purchase of stocks to institutional investors.
The country's top economic planner said that China plans to expand its trade-in program to cover industrial equipment, computer devices, and other electronic items.
In 2025, China's trade-in program will cover many industrial equipment categories and personal computing devices funded by long-term bonds, said Yuan Da, deputy secretary general of the National Development and Reform Commission, at a press conference held on Friday.
As of August, Beijing had distributed 150 billion yuan, or about $21 billion, to local governments to subsidize purchases of home appliances and electric vehicles.
However, the trade-in program is likely to be less effective in 2025 amid waning demand for durable goods and falling retail sales in Beijing and Shanghai.
Leaders of the Shanghai and Shenzhen stock exchanges confirmed that they recently held meetings with foreign investors reaffirming their commitments to capital markets reforms.
Despite public announcements by policy officials and market regulators, market sentiment remained negative amid ongoing weakness in the property market and the manufacturing sector.
The Caixin Manufacturing PMI eased to 50.5 in December from 51.5 in November, confirming the slowdown reported by the official measure reported by the statistical bureau on December 31.
The Caixin China General Services PMI rose to 52.2 in December from 51.5 in November, a seven-month high.
The services sector activities accelerated amid rising domestic orders despite falling export orders. and upbeat sentiment.
China Stock Movers
The Hang Seng index decreased 0.4% to 19,683.12, and the mainland-focused CSI 300 index fell 0.2% to 3,767.0.
Tech stocks advanced in the hopes of higher sales after policymakers vowed to expand the trade-in program.
Lenovo Group increased 0.7% to HK $9.90, SMIC gained 0.7% to HK $29.75, and Contemporary Amperex Technology Co Ltd decreased 0.6% to ¥255.88.
China Vanke Co. Ltd. decreased 1.4% to HK $5.02, China Resources Land fell 1.1% to HK $22.20, and Longfor Group Holdings fell 0.1% to HK $9.90.
Alibaba Group declined 0.5% to HK $82.15, Baidu Inc. fell 0.6% to HK $80.60, JD.com added 1.1% to HK $135.60, and Meituan dropped 3.1% to HK $148.90.
India Movers: Adani Wilmar, Bajaj Finance, FSN E-Commerce, Hindustan Unilever, Reliance Industries
Arun Goswami
06 Jan, 2025
Mumbai
Stock market indexes looked down in cautious trading as investors awaited the release of GDP data and surveys on manufacturing and services sectors activities.
The Sensex index decreased by 0.1% to 77,9106.03, and the Nifty index fell by 0.3% to 23,945.73.
On the Mumbai stock exchange, 106 stocks traded at their 52-week highs, and 29 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.82%, and the Indian rupee eased to a new record low of 85.77 against the U.S. dollar.
Bajaj Finance Ltd. increased 1.9% to ₹7,544.80 after the company released its deposit and loan book data for the fiscal third quarter.
The company said its assets under management increased 28% from a year ago to ₹3.98 lakh crore at the end of 2024, compared to ₹3.11 lakh crore a year ago.
Total deposits increased 19% to ₹68,800 crore from ₹58,008 crore a year ago.
FSN E-Commerce Ventures Ltd. advanced 2.8% to ₹172.75 amid expectations that the parent company of beauty and cosmetic products online retailer is likely to sustain revenue growth of more than 20% in the current fiscal year.
Adani Wilmar Ltd. decreased 0.2% to ₹328.20 after the company reported fiscal third quarter revenue increased 33%, driven by a 6% rise in volume growth.
Reliance Industries Ltd. decreased 0.1% to ₹1,251.46 after local reports confirmed that the company raised $3 billion from a consortium of 11 banks, the largest borrowing by the company in two years.
Hindustan Unilever Ltd. dropped 1.3% to ₹2,374.25, and the company is said to be in advanced talks to acquire skincare brand Minimalist for as much as ₹3,000 crore.
India Movers: Adani Wilmar, Bajaj Finance, FSN E-Commerce, Hindustan Unilever, Reliance Industries
Arun Goswami
06 Jan, 2025
Mumbai
Stock market indexes looked down in cautious trading as investors awaited the release of GDP data and surveys on manufacturing and services sectors activities.
The Sensex index decreased by 0.1% to 77,9106.03, and the Nifty index fell by 0.3% to 23,945.73.
On the Mumbai stock exchange, 106 stocks traded at their 52-week highs, and 29 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.82%, and the Indian rupee eased to a new record low of 85.77 against the U.S. dollar.
Bajaj Finance Ltd. increased 1.9% to ₹7,544.80 after the company released its deposit and loan book data for the fiscal third quarter.
The company said its assets under management increased 28% from a year ago to ₹3.98 lakh crore at the end of 2024, compared to ₹3.11 lakh crore a year ago.
Total deposits increased 19% to ₹68,800 crore from ₹58,008 crore a year ago.
FSN E-Commerce Ventures Ltd. advanced 2.8% to ₹172.75 amid expectations that the parent company of beauty and cosmetic products online retailer is likely to sustain revenue growth of more than 20% in the current fiscal year.
Adani Wilmar Ltd. decreased 0.2% to ₹328.20 after the company reported fiscal third quarter revenue increased 33%, driven by a 6% rise in volume growth.
Reliance Industries Ltd. decreased 0.1% to ₹1,251.46 after local reports confirmed that the company raised $3 billion from a consortium of 11 banks, the largest borrowing by the company in two years.
Hindustan Unilever Ltd. dropped 1.3% to ₹2,374.25, and the company is said to be in advanced talks to acquire skincare brand Minimalist for as much as ₹3,000 crore.
S&P 500 and Nasdaq Composite Extend 20% Plus Rally Second Consecutive Year In 2024
Barry Adams
31 Dec, 2024
New York City
Stock market indexes on Wall Street inched higher on the final trading day of the year as investors remained optimistic about the upcoming year.
The S&P 500 index inched higher by 0.1%, and the Nasdaq Composite advanced by 0.01% in light trading, and both benchmark indexes are set to close up more than 20% for the second year in a row.
In December, the S&P 500 index is down 2.3%, and the Nasdaq Composite is up 1.4% as tech and high growth retained upward bias.
Benchmark indexes gained for the fifth quarter in a row for the first time in three years, and the S&P 500 index advanced 2.5%, and the Nasdaq surged 7.1%.
Investors are hoping that the new presidential administration will succeed in lowering corporate taxes and in relaxing key financial regulations and that the current economic momentum will continue in 2025.
The S&P 500 index advanced 24.9%, and the Nasdaq Composite jumped 32.1% in 2024.
The strong economic growth and labor market conditions, falling interest rates, enthusiasm surrounding artificial intelligence, and post-election euphoria drove benchmark indexes above 20% for the second consecutive year in 2024.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.1% to 5,915.16, the Nasdaq Composite rose 0.04% to 19,475.84, and the Russell 2000 index decreased by 0.8% to 2,227.78.
The yield on 2-year Treasury notes edged lower to 4.24%, 10-year Treasury notes inched down to 4.52%, and 30-year Treasury bonds increased to 4.73%.
WTI crude oil decreased $0.06 to $70.93 a barrel, and natural gas prices edged down 11 cents to $3.82 a thermal unit.
Gold increased by $1.01 to $2,607.90 an ounce, and silver fell by $0.09 to $28.84.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged higher by 0.13 to 108.18 and traded at a two-year high.
U.S. Stock Movers
Crypto stocks linked to bitcoin advanced after the price of the cryptocurrency rose by 2.5% to $95,371.39.
MicroStrategy jumped 3.3% to $310.75, and Coinbase increased 1.1% to $258.23.
S&P 500 and Nasdaq Composite Extend 20% Plus Rally Second Consecutive Year In 2024
Barry Adams
31 Dec, 2024
New York City
Stock market indexes on Wall Street inched higher on the final trading day of the year as investors remained optimistic about the upcoming year.
The S&P 500 index inched higher by 0.1%, and the Nasdaq Composite advanced by 0.01% in light trading, and both benchmark indexes are set to close up more than 20% for the second year in a row.
In December, the S&P 500 index is down 2.3%, and the Nasdaq Composite is up 1.4% as tech and high growth retained upward bias.
Benchmark indexes gained for the fifth quarter in a row for the first time in three years, and the S&P 500 index advanced 2.5%, and the Nasdaq surged 7.1%.
Investors are hoping that the new presidential administration will succeed in lowering corporate taxes and in relaxing key financial regulations and that the current economic momentum will continue in 2025.
The S&P 500 index advanced 24.9%, and the Nasdaq Composite jumped 32.1% in 2024.
The strong economic growth and labor market conditions, falling interest rates, enthusiasm surrounding artificial intelligence, and post-election euphoria drove benchmark indexes above 20% for the second consecutive year in 2024.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.1% to 5,915.16, the Nasdaq Composite rose 0.04% to 19,475.84, and the Russell 2000 index decreased by 0.8% to 2,227.78.
The yield on 2-year Treasury notes edged lower to 4.24%, 10-year Treasury notes inched down to 4.52%, and 30-year Treasury bonds increased to 4.73%.
WTI crude oil decreased $0.06 to $70.93 a barrel, and natural gas prices edged down 11 cents to $3.82 a thermal unit.
Gold increased by $1.01 to $2,607.90 an ounce, and silver fell by $0.09 to $28.84.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged higher by 0.13 to 108.18 and traded at a two-year high.
U.S. Stock Movers
Crypto stocks linked to bitcoin advanced after the price of the cryptocurrency rose by 2.5% to $95,371.39.
MicroStrategy jumped 3.3% to $310.75, and Coinbase increased 1.1% to $258.23.
European Markets Struggled to Advance In 2024 Amid Rising Political Uncertainties and Trade Tensions
Bridgette Randall
31 Dec, 2024
London
On the final trading day of the year, European markets edged slightly higher in thin trading.
The CAC-40 index gained 0.6%, and the FTSE 100 index advanced 0.7% amid weak trading activity and lack of momentum.
Markets in Germany, Switzerland, and Italy are closed today, and stock exchanges in Paris and London are set to operate fewer than regular hours.
European markets struggled to advance in 2024 amid rising political turmoil in Germany and France, an impending tariff war with the U.S., and the deepening woes of the automotive industry.
In 2024, France was the worst performer in Europe, with the CAC 40 down 2.3% as frequent changes of government and a lack of progress on the financial budget weighed on investor sentiment.
France is struggling to pass a fiscal budget and bring down its annual deficit to below 5% amid infighting among lawmakers from three blocs with a minority government in charge.
Germany led the region with a gain of 18%, driven in large part by the cuts in interest rates and sustained global exports, despite the weakening domestic consumer demand.
However, investors are cautious in the year ahead as a divided parliament in France impedes progress on much-needed fiscal reforms, and far-right ideology-driven parties are expected to make strong gains in the upcoming national election in Germany.
Europe Indexes and Yields
The CAC-40 index rose by 0.6% to 7,357.67, and the FTSE 100 index inched higher by 0.7% to 8,175.17.
The yield on 10-year German bonds edged higher to 2.36%, French bonds rose to 3.19%, the UK gilts decreased to 4.55%, and Italian bonds rose to 3.52%.
The euro edged lower to $1.038; the British pound inched up to $1.249; and the U.S. dollar strengthened to 90.48 Swiss cents.
Brent crude increased $0.45 to $74.45 a barrel, and the Dutch TTF natural gas rose by €0.83 to €49.05 per MWh.
Europe Stock Movers
Bunzl plc gained 0.4% to 3,307.30 pence after the British distribution and outsourcing company announced that it plans to launch the first tranche of its stock buyback program of £200 million on January 2.
Wizz Air gained 1.9% to 1,449.38 pence after the deep discount airline said it plans to return to growth in 2026 as it takes deliveries of 50 new A321 neo, giving the airline flexibility to increase its passenger capacity by 20%.
The company also signed a two-year commercial support agreement with Pratt & Whitney, which includes a compensation package covering the airline's current and future groundings.
European Markets Struggled to Advance In 2024 Amid Rising Political Uncertainties and Trade Tensions
Bridgette Randall
31 Dec, 2024
London
On the final trading day of the year, European markets edged slightly higher in thin trading.
The CAC-40 index gained 0.6%, and the FTSE 100 index advanced 0.7% amid weak trading activity and lack of momentum.
Markets in Germany, Switzerland, and Italy are closed today, and stock exchanges in Paris and London are set to operate fewer than regular hours.
European markets struggled to advance in 2024 amid rising political turmoil in Germany and France, an impending tariff war with the U.S., and the deepening woes of the automotive industry.
In 2024, France was the worst performer in Europe, with the CAC 40 down 2.3% as frequent changes of government and a lack of progress on the financial budget weighed on investor sentiment.
France is struggling to pass a fiscal budget and bring down its annual deficit to below 5% amid infighting among lawmakers from three blocs with a minority government in charge.
Germany led the region with a gain of 18%, driven in large part by the cuts in interest rates and sustained global exports, despite the weakening domestic consumer demand.
However, investors are cautious in the year ahead as a divided parliament in France impedes progress on much-needed fiscal reforms, and far-right ideology-driven parties are expected to make strong gains in the upcoming national election in Germany.
Europe Indexes and Yields
The CAC-40 index rose by 0.6% to 7,357.67, and the FTSE 100 index inched higher by 0.7% to 8,175.17.
The yield on 10-year German bonds edged higher to 2.36%, French bonds rose to 3.19%, the UK gilts decreased to 4.55%, and Italian bonds rose to 3.52%.
The euro edged lower to $1.038; the British pound inched up to $1.249; and the U.S. dollar strengthened to 90.48 Swiss cents.
Brent crude increased $0.45 to $74.45 a barrel, and the Dutch TTF natural gas rose by €0.83 to €49.05 per MWh.
Europe Stock Movers
Bunzl plc gained 0.4% to 3,307.30 pence after the British distribution and outsourcing company announced that it plans to launch the first tranche of its stock buyback program of £200 million on January 2.
Wizz Air gained 1.9% to 1,449.38 pence after the deep discount airline said it plans to return to growth in 2026 as it takes deliveries of 50 new A321 neo, giving the airline flexibility to increase its passenger capacity by 20%.
The company also signed a two-year commercial support agreement with Pratt & Whitney, which includes a compensation package covering the airline's current and future groundings.
China and Hong Kong Indexes Halted Multi-Year Slide In 2024 Amid Decelerating Economic Growth
Li Chen
31 Dec, 2024
Hong Kong
Stock market indexes in China closed down, but in Hong Kong were nearly unchanged in thin trading on the final trading day of 2024.
The Hang Seng index was nearly unchanged, and the CSI 300 index dropped more than 1% amid decelerating economic growth and lack of clarity about the fiscal stimulus implementation plans.
The Hang Seng index advanced 19.5% in 2024, halting a four-year slide after China's political leaders promised a raft of fiscal stimulus measures to alleviate the debt burden on local governments and support the rebound in property market activities.
After the initial spurt, market enthusiasm waned in the last three months of trading, as policymakers failed to announce stimulus implementation steps and measures to revive consumer demand.
Market indexes are likely to face a sharp selloff in the first quarter of 2025 if policymakers show a lack of urgency in implementing fiscal measures and announce new measures to support consumer demand.
In addition, corporate earnings estimates for 2025 are expected to be downwardly revised as Chinese annual economic growth continues to shift downward over the next five years to 2% from the current 5%.
On the economic front, China's manufacturing PMI edged lower to 50.1 in December, the National Bureau of Statistics reported Tuesday.
The official reading on the manufacturing sector expanded for the third consecutive month, confirming uneven economic recovery.
The non-manufacturing PMI rose to 52.2 in December from 50.0 in November, the statistical bureau said in a separate report today.
The non-manufacturing sector indicator, which includes the service and the construction sectors, jumped to the highest level since March, confirming the latest flurry of stimulus measures is supporting the latest rebound.
China Stock Movers
The Hang Seng index was nearly unchanged at 20,059.95, and the CSI 300 index declined 1.6% to 3,934.91.
China Vanke declined 0.3% to HK $5.29, China Resources Land decreased 0.1% to HK $22.55, and Henderson Land Development Ltd. dropped 0.4% to HK $23.60.
Li Auto fell 4.3% to HK $93.95, BYD decreased 0.2% to HK $266.60, and Geely Automobile Holding advanced 1.2% to HK $14.82.
China and Hong Kong Indexes Halted Multi-Year Slide In 2024 Amid Decelerating Economic Growth
Li Chen
31 Dec, 2024
Hong Kong
Stock market indexes in China closed down, but in Hong Kong were nearly unchanged in thin trading on the final trading day of 2024.
The Hang Seng index was nearly unchanged, and the CSI 300 index dropped more than 1% amid decelerating economic growth and lack of clarity about the fiscal stimulus implementation plans.
The Hang Seng index advanced 19.5% in 2024, halting a four-year slide after China's political leaders promised a raft of fiscal stimulus measures to alleviate the debt burden on local governments and support the rebound in property market activities.
After the initial spurt, market enthusiasm waned in the last three months of trading, as policymakers failed to announce stimulus implementation steps and measures to revive consumer demand.
Market indexes are likely to face a sharp selloff in the first quarter of 2025 if policymakers show a lack of urgency in implementing fiscal measures and announce new measures to support consumer demand.
In addition, corporate earnings estimates for 2025 are expected to be downwardly revised as Chinese annual economic growth continues to shift downward over the next five years to 2% from the current 5%.
On the economic front, China's manufacturing PMI edged lower to 50.1 in December, the National Bureau of Statistics reported Tuesday.
The official reading on the manufacturing sector expanded for the third consecutive month, confirming uneven economic recovery.
The non-manufacturing PMI rose to 52.2 in December from 50.0 in November, the statistical bureau said in a separate report today.
The non-manufacturing sector indicator, which includes the service and the construction sectors, jumped to the highest level since March, confirming the latest flurry of stimulus measures is supporting the latest rebound.
China Stock Movers
The Hang Seng index was nearly unchanged at 20,059.95, and the CSI 300 index declined 1.6% to 3,934.91.
China Vanke declined 0.3% to HK $5.29, China Resources Land decreased 0.1% to HK $22.55, and Henderson Land Development Ltd. dropped 0.4% to HK $23.60.
Li Auto fell 4.3% to HK $93.95, BYD decreased 0.2% to HK $266.60, and Geely Automobile Holding advanced 1.2% to HK $14.82.
Nikkei 225 and Topix Advance 20% In 2024 Amid Rate Path Uncertainty and Lackluster Economic Outlook
Akira Ito
30 Dec, 2024
Tokyo
Stock market indexes in Tokyo closed down on the final trading day of 2024 amid weakness in tech stocks.
The Nikkei 225 stock average decreased 0.9%, and the broader TOPIX index fell 0.6% in thin trading as investors debated the rate path, the outlook for the yen, and corporate earnings.
In 2024, the Nikkei 225 stock average and the TOPIX index gained about 20%, reflecting strong corporate earnings driven by a weak yen and innovation-led growth in leading semiconductor and automotive companies.
A private manufacturing survey conducted by S&P Global confirmed contraction for the sixth consecutive month in December as exports to key markets in China and the U.S. struggled.
The au Jibun Bank Japan Manufacturing PMI edged was confirmed at 49.6 in December from the preliminary estimate of 49.5 and ahead of 49.0 in November.
New orders stabilized, exports remained subdued, and backlogs continue to shrink, according to the report published by S&P Global.
Despite the ongoing weakness, sentiment among manufacturing companies was relatively strong amid rising production of newly launched products and steady recovery in semiconductor and automotive sectors.
Japan Stock Movers
The Nikkei 225 Stock Average decreased 0.9% to 39,932.89, and the broader TOPIX index dropped 0.6% to 2,784.95.
Advantest Corp. declined 2.4% to ¥9,220 and closed up 99%. Tokyo Electron declined 0.5% to ¥24,255 and gained 1%, Screen Holdings declined 1.4% to ¥9,510 and fell 18% in 2024, respectively.
J Front Retailing Co. Ltd. decreased 1.4% to ¥2,131 and soared 64%, Seven & I Holdings Co. Ltd. increased 0.5% to ¥2,485.50 and advanced 32% to ¥2,485.50, and Isetan Mitsukoshi Holdings edged up 0.1% to ¥2,755.50 and jumped 78% to ¥2,755.50 in 2024, respectively.
Marubeni Corp. gained 0.2% to ¥2,391.50 and jumped 5% to ¥2,391; Mitsui & Co. Ltd. decreased 0.4% to ¥3,310 but rose 22% to ¥3,310, and Itochu Corp. fell 0.7% to ¥7,827 and soared 34% to ¥7,827.
Nikkei 225 and Topix Advance 20% In 2024 Amid Rate Path Uncertainty and Lackluster Economic Outlook
Akira Ito
30 Dec, 2024
Tokyo
Stock market indexes in Tokyo closed down on the final trading day of 2024 amid weakness in tech stocks.
The Nikkei 225 stock average decreased 0.9%, and the broader TOPIX index fell 0.6% in thin trading as investors debated the rate path, the outlook for the yen, and corporate earnings.
In 2024, the Nikkei 225 stock average and the TOPIX index gained about 20%, reflecting strong corporate earnings driven by a weak yen and innovation-led growth in leading semiconductor and automotive companies.
A private manufacturing survey conducted by S&P Global confirmed contraction for the sixth consecutive month in December as exports to key markets in China and the U.S. struggled.
The au Jibun Bank Japan Manufacturing PMI edged was confirmed at 49.6 in December from the preliminary estimate of 49.5 and ahead of 49.0 in November.
New orders stabilized, exports remained subdued, and backlogs continue to shrink, according to the report published by S&P Global.
Despite the ongoing weakness, sentiment among manufacturing companies was relatively strong amid rising production of newly launched products and steady recovery in semiconductor and automotive sectors.
Japan Stock Movers
The Nikkei 225 Stock Average decreased 0.9% to 39,932.89, and the broader TOPIX index dropped 0.6% to 2,784.95.
Advantest Corp. declined 2.4% to ¥9,220 and closed up 99%. Tokyo Electron declined 0.5% to ¥24,255 and gained 1%, Screen Holdings declined 1.4% to ¥9,510 and fell 18% in 2024, respectively.
J Front Retailing Co. Ltd. decreased 1.4% to ¥2,131 and soared 64%, Seven & I Holdings Co. Ltd. increased 0.5% to ¥2,485.50 and advanced 32% to ¥2,485.50, and Isetan Mitsukoshi Holdings edged up 0.1% to ¥2,755.50 and jumped 78% to ¥2,755.50 in 2024, respectively.
Marubeni Corp. gained 0.2% to ¥2,391.50 and jumped 5% to ¥2,391; Mitsui & Co. Ltd. decreased 0.4% to ¥3,310 but rose 22% to ¥3,310, and Itochu Corp. fell 0.7% to ¥7,827 and soared 34% to ¥7,827.
Four Companies List in China In Busiest Day In Six Months In Hong Kong
Li Chen
30 Dec, 2024
Hong Kong
Stock market indexes in China and Hong Kong diverged in thin trading as investors awaited the release of manufacturing industry data.
The Hang Seng index declined 0.6%, and the CSI 300 index rose 0.2% amid optimism about the fiscal stimulus implementation plans and possible relaxing of bank reserve requirement ratios.
Stock market indexes in Hong Kong were under pressure following a selloff in tech stocks in Friday's trading in New York.
Ahead of the last trading day, benchmark indexes in Hong Kong and Shanghai advanced 18% in 2024, overcoming the lackluster performance after the announcements of stimulus measures by policymakers in Beijing and the People's Bank of China.
China Stock Movers
The Hang Seng index decreased 0.6% to 19,976.48, and the mainland-focused CSI 300 index advanced 0.2% to 3,991.48.
Sands China decreased 5.3% to HK $20.60, Haidilao International Holding declined 5.9% to HK $15.42, and Trip.com Group fell 4.5%.
On the upside, SMIC gained 6% to HK $32.50, and Wuxi AppTec increased 3% to HK $55.50.
Three new companies began trading for the first time in Hong Kong, its busiest day for new listings since July 10.
InnoScience Technology Holding jumped 2% to HK $55.50 after the Gallium Nitride microchip company completed its initial public listing at HK $30.86 per share.
The company raised HK$1.4 billion, or $180 million, through the sale of 45.4 million shares.
HealthyWay jumped 30% to HK$10.38 after the digital health and medical services platform listed its stock in Hong Kong.
The Baidu-backed company raised HK $195 million after it priced its initial offering at HK $7.80 per share.
Xunfei Healthcare Technology jumped 7% to HK $88.40 after the medical information platform operator completed its initial public offering and raised HK $1.4 billion, or $180.4 million.
Air China Cargo soared more than four-fold to 10.13 yuan on the first day of trading in Shenzhen after the company sold 1.3 billion shares and raised 3.5 billion yuan.
Four Companies List in China In Busiest Day In Six Months In Hong Kong
Li Chen
30 Dec, 2024
Hong Kong
Stock market indexes in China and Hong Kong diverged in thin trading as investors awaited the release of manufacturing industry data.
The Hang Seng index declined 0.6%, and the CSI 300 index rose 0.2% amid optimism about the fiscal stimulus implementation plans and possible relaxing of bank reserve requirement ratios.
Stock market indexes in Hong Kong were under pressure following a selloff in tech stocks in Friday's trading in New York.
Ahead of the last trading day, benchmark indexes in Hong Kong and Shanghai advanced 18% in 2024, overcoming the lackluster performance after the announcements of stimulus measures by policymakers in Beijing and the People's Bank of China.
China Stock Movers
The Hang Seng index decreased 0.6% to 19,976.48, and the mainland-focused CSI 300 index advanced 0.2% to 3,991.48.
Sands China decreased 5.3% to HK $20.60, Haidilao International Holding declined 5.9% to HK $15.42, and Trip.com Group fell 4.5%.
On the upside, SMIC gained 6% to HK $32.50, and Wuxi AppTec increased 3% to HK $55.50.
Three new companies began trading for the first time in Hong Kong, its busiest day for new listings since July 10.
InnoScience Technology Holding jumped 2% to HK $55.50 after the Gallium Nitride microchip company completed its initial public listing at HK $30.86 per share.
The company raised HK$1.4 billion, or $180 million, through the sale of 45.4 million shares.
HealthyWay jumped 30% to HK$10.38 after the digital health and medical services platform listed its stock in Hong Kong.
The Baidu-backed company raised HK $195 million after it priced its initial offering at HK $7.80 per share.
Xunfei Healthcare Technology jumped 7% to HK $88.40 after the medical information platform operator completed its initial public offering and raised HK $1.4 billion, or $180.4 million.
Air China Cargo soared more than four-fold to 10.13 yuan on the first day of trading in Shenzhen after the company sold 1.3 billion shares and raised 3.5 billion yuan.
India Movers: Cigniti, Coforge, Jaiprakash Power, Max Estate, Utkarsh Small Finance Bank, Zydus Wellness
Arun Goswami
30 Dec, 2024
Mumbai
Stock market indexes lacked direction in Monday's trading after the rupee hit a new record low ahead of the release of foreign fund flows data later in the week.
The Sensex index decreased by 0.1% to 78,629.0, and the Nifty index fell by 0.2% to 23,771.85.
On the Mumbai stock exchange, 62 stocks traded at their 52-week highs, and 39 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched higher to 6.83%, and the Indian rupee eased to a new record low of 85.39 against the U.S. dollar.
Coforge Ltd. decreased 0.3% to ₹9,409.30, and the company's board approved the merger of its subsidiary Cigniti Technologies.
The software development company holds a 54% stake in its subsidiary.
Cigniti Technologies decreased 0.02% to ₹1,848.50.
Max Estates Limited edged higher 5.3% to ₹590.0 after the company reported strong demand for its luxury properties in Noida.
The company pre-booked ₹845 crore worth of residential properties in the first week of the launch of Phase II of Estate 128 in Noida, increasing the total for the project to ₹2,700 crore.
The company confirmed the sale of ₹5,000 crore in the first nine months of the current financial year ending in September, and the real estate developer reiterated its full-year revenue estimate between ₹4,800 and ₹5,200 crore.
Jaiprakash Power Ventures declined 4.8% to ₹17.01 after the SEBI imposed a fine of ₹54 lakh on the company and managing director Suren Jain and other executives for misrepresenting the company's financial statements.
Utkarsh Small Finance Bank Ltd gained 2.6% to ₹35.41 after the microloan lender's plans to sell ₹355 crore worth of nonperforming assets for ₹52 crore, seeking a recovery of 14.6%.
Zydus Wellness decreased 0.6% to ₹1,887.60 after the company's subsidiary received a goods and service tax demand for ₹56.3 crore from the tax authority.
India Movers: Cigniti, Coforge, Jaiprakash Power, Max Estate, Utkarsh Small Finance Bank, Zydus Wellness
Arun Goswami
30 Dec, 2024
Mumbai
Stock market indexes lacked direction in Monday's trading after the rupee hit a new record low ahead of the release of foreign fund flows data later in the week.
The Sensex index decreased by 0.1% to 78,629.0, and the Nifty index fell by 0.2% to 23,771.85.
On the Mumbai stock exchange, 62 stocks traded at their 52-week highs, and 39 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched higher to 6.83%, and the Indian rupee eased to a new record low of 85.39 against the U.S. dollar.
Coforge Ltd. decreased 0.3% to ₹9,409.30, and the company's board approved the merger of its subsidiary Cigniti Technologies.
The software development company holds a 54% stake in its subsidiary.
Cigniti Technologies decreased 0.02% to ₹1,848.50.
Max Estates Limited edged higher 5.3% to ₹590.0 after the company reported strong demand for its luxury properties in Noida.
The company pre-booked ₹845 crore worth of residential properties in the first week of the launch of Phase II of Estate 128 in Noida, increasing the total for the project to ₹2,700 crore.
The company confirmed the sale of ₹5,000 crore in the first nine months of the current financial year ending in September, and the real estate developer reiterated its full-year revenue estimate between ₹4,800 and ₹5,200 crore.
Jaiprakash Power Ventures declined 4.8% to ₹17.01 after the SEBI imposed a fine of ₹54 lakh on the company and managing director Suren Jain and other executives for misrepresenting the company's financial statements.
Utkarsh Small Finance Bank Ltd gained 2.6% to ₹35.41 after the microloan lender's plans to sell ₹355 crore worth of nonperforming assets for ₹52 crore, seeking a recovery of 14.6%.
Zydus Wellness decreased 0.6% to ₹1,887.60 after the company's subsidiary received a goods and service tax demand for ₹56.3 crore from the tax authority.