Market Updates
China Corporations Step Up Secondary Offerings, Hang Seng Index Extends Weekly Loss to 1%
Li Chen
28 Mar, 2025
Hong Kong
Stock market indexes in China and Hong Kong headed lower amid worries about the looming U.S. tariffs and weak corporate sentiment.
The Hang Seng index declined more than 1%, and the mainland-focused CSI 300 index fell 0.4%, and they declined 1% and 0.5% for the week, respectively.
Investors have been on edge amid uncertainty about U.S. trade policy and ongoing geopolitical tensions rooted in the Russia-Ukraine conflict.
Moreover, market sentiment weakened after electric vehicle maker Nio announced its plans to raise additional capital from shareholders, and Haier Smart reported weaker than expected full-year results.
Li Ning and Hansoh Pharma reported results that surpassed market expectations.
Li Ning increased 1.5% to HK $17.36, and Hansoh Pharmaceutical Group jumped 6.3% to HK $23.55.
China Indexes and Stocks
The Hang Seng index decreased 1.1% to 23,314.83, and the mainland-focused CSI 300 index fell 0.4% to 3,917.01.
NIO Inc. declined 7.3% to HK $30.20, and the electric vehicle maker set its secondary offering price at a 10% discount to HK $29.46 per share.
Banks were in focus ahead of results from ICBC and China Construction Bank.
ICBC decreased 0.7% to HK $5.50, and China Construction Bank fell 0.6% to HK $6.71.
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