Object reference not set to an instance of an object. Online Stock Broker - Stock Broking, Best Share Bazaar Brokers In India
  • SMC open account icon Open an A/C
    • Open an A/C
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c

Budget News

  • Hong Kong Market surges 4%
  • June 02,2023  18:25
  • Hong Kong share market skyrocketed on Friday, 02 June 2023, as investors chased for bottom fishing across the board, with shares in property developers and construction related companies leading gains on China stimulus bets and a possible pause in US interest-rate hikes. Meanwhile, stronger than expected domestic retail sales figures also propelled positive sentiments.

    At closing bell, the benchmark Hang Seng Index spurted 733.03 points, or 4.02%, to 18,949.94. The Hang Seng China Enterprises Index surged 278.69 points, or 4.53%, to 6,428.33.

    As per reports, the government is considering a new basket of measures to support the property market. Some of the ideas that are discussed include reducing the down payment in some non-core neighborhoods of major cities, lowering agent commissions, as well as further relaxation of constraints for residential purchases, the report added.

    Retail sales in Hong Kong increased by 15% year over year in April, reaching HK$34.7 billion. Although the growth rate was lower than the 40.8% surge witnessed in March. A government spokesperson credited the April increase to the ongoing improvement in consumer sentiment and the rise in visitor arrivals. The spokesperson further expressed optimism regarding the future of the retail sector, anticipating that the revival of inbound tourism and strong local consumption demand would continue to drive retail sales in Hong Kong.

    Among blue chips, Tencent jumped 6% to HK$334.20 to lead the rally while Alibaba Group surged 6.7% to HK$82.50 and Baidu gained 7.3% to HK$130.50. Developer Longfor soared 17.2% to HK$17. BYD added 4.5% to HK$245 after electric-vehicle sales doubled in May. Peers Nio, Li Auto and Xpeng rose by 3.8 to 7.9%.

    Shares of both Galaxy Entertainment and MGM China closed up nearly 4% after reports, citing that the casino operators are planning to open casinos in Thailand amid the deteriorating outlook in Macau.

    Powered by Capital Market - Live News

Top News
Global News

Follow us:

  • fb icon
  • Twitter icon
  • Linkedin
  • you tube
  • Instagram


SMC Global Securities Ltd | CIN : L74899DL1994PLC063609 | Registered Office: 11/6B, Shanti Chamber, Pusa Road, Delhi-110005. | Tel +91-11-30111000 | Compliance Officer: Mr. Ashok Kumar Aggarwal | Tel 011-30111000 Extn. 170 | Email:-aka@smcindiaonline.com| Customer Care Email –smc.care@smcindiaonline.com| Complaint Email –igc@smcindiaonline.com| website: www.smctradeonline.com

SEBI Reg. No. INZ000199438, Member: NSE (07714), BSE (470), MSEI (1002), MCX (8200) & NCDEX (00021). DP SEBI Regn. No. CDSL/NSDL-IN-DP-130-2015, SMC Research Analyst Registration- INH100001849, Mutual Funds Distributor ARN No. 29345. •Insurance services are offered through SMC Insurance Brokers Pvt. Ltd. IRDAI Regn. No: DB 272/04 License No. 289 Valid upto 27/01/2026. • Real Estate Advisory services are offered through SMC Real Estate Advisors Pvt. Ltd.

Disclaimer: Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Mutual Fund investments are subject to market risks. Read all scheme related documents carefully. PMS is not offered in commodity derivative segment. Insurance is the subject matter of solicitation. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. The price, value of and income from any of the securities or financial instruments mentioned in this report can fall as well as rise.The securities are quoted as an example and hot as a recommendation.

By submitting your details to SMC, you are authorizing us to send promotional communication through Call/Email/SMS/Whatsapp even though you may be registered under DND.


Toll-free : 1800-11-0909
Email: contact@smctradeonline.com

Plus Minus 
Copyright ©2016-2024 SMC. All Rights Reserved | Disclaimer | Privacy Policy | Copyright| Testimonials| Sitemap| Grievance|Terms And Conditions| design agency: triverse| Powered by C-MOTS Infotech (ISO 9001:2015 certified)

Open my trading account now!  X 

* All fields are compulsory