• 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 slides on earnings woes
  • July 18,2019  18:43
  • The Hong Kong share market declined for the second straight day in narrow trade on Thursday, 18 July 2019, following the slide of the Dow overnight, as risk sentiments undermined on concerns that the protracted trade stand-off between the United States and China could hurt U.S. corporate earnings. Meanwhile selloff pressures mounted fresh concerns about U.S.-China trade relations. At closing bell, the Hang Seng Index dropped 0.46%, or 131.51 points, to 28,461.66. The Hang Seng China Enterprises Index was down 0.58%, or 63.36 points, to 10,784.55.

    President Donald Trump's latest remarks stoked fresh concerns about U.S.-China trade relations. Trump reportedly said there was a long way to go before a trade deal was reached with China and that he could impose tariffs on $325 billion of additional Chinese goods if he wanted. His comments brought back the focus on trade worries, which were allayed last month after Trump and Chinese President Xi Jinping agreed to a temporary truce at the G-20 gathering. Following that meeting, the U.S. had agreed to hold off on imposing tariffs on more Chinese goods and to recommence talks.

    As the U.S. earnings season kicked off, weak results from railway transport company CSX Corp stoked concerns that the protracted trade standoff between the United States and China could hurt the profits of U.S. companies. The outlook is seen even bleaker in Japan as companies struggle with the U.S.-China tariff war amid deteriorating global conditions that have dragged on its exports.

    Blue chips were mixed despite Credit Suisse upgraded China/Hong Kong from underweight to market weight on improved relative valuation and EPS trends. HSBC (00005) edged down 0.4% to HK$64.75. HKEX (00388) softened 0.2% to HK$273. Tencent (00700) dipped 1.8% to HK$356.6. China Mobile (00941) dipped 0.4% to HK$70.55. AIA (01299) nudged up 0.8% to HK$86.15.

    Shares of energy players declined as crude oil prices retreated after the US reported large build in its refined product stockpiles and US-Iran tensions looked abated. CNOOC (00883) slid 2.4% to HK$12.86. Sinopec (00386) softened 0.4% to HK$5.14. PetroChina (00857) ebbed 0.5% to HK$4.24.

    Casino stocks were among losers. Sands China (1928 HK) fell 1.3 per cent to HK$40.90 while Galaxy Entertainment (27 HK) slid 1.1 per cent to HK56.45.

    Shares of consumer staples saw buying orders. Want Want China (00151) gained 1.5% to HK$6.3. Tingyi (Cayman Islands) (00322) jumped 2.7% to HK$12.92. Uni-President China (00220) climbed 0.8% to HK$9.22.

    Powered by Capital Market - Live News

Economy News
Global News

Follow us:

  • fb icon
  • Twitter icon
  • Linkedin
  • you tube

Disclaimer: Investment in securities and commodities market are subject to market risks, read all the related documents carefully before investing. SMC Global Securities Ltd. (CIN : U67120DL1997PLC188881): NSE INB/ INF/INE 230771431, BSE INB/INF 011343937, MSEI INB/INF 260771432, CDSL/NSDL-IN-DP-130-2015, SMC Research Analyst Registration- INH 100001849 I SMC Comtrade Ltd.: NCDEX/MCX (8200)/ NMCE/ICEX-INZ000035839 I SMC Investments and Advisors Ltd.: PMS INP000003435 I SMC Insurance Brokers Pvt. Ltd., IRDAI Regi: No: DB 272/04, License No. 289 Valid upto 27/01/2020 I Registered Office: 11/6B, Shanti Chamber, Pusa Road, New Delhi-110005, Tel.: (011) 30111000. For any complaints email – igc@smcindiaonline.com, website: www.smctradeonline.com

Insurance is the subject matter of solicitation • All insurance products sold through SMC Insurance Brokers Pvt. Ltd. • Investment Banking Services provided by SMC Capitals Ltd. • Equity PMS and Wealth management services provided by SMC Investments & Advisors Ltd. • IPOs and Mutual Funds distribution services are provided by SMC Global Securities Ltd. • Financing Services provided by Moneywise Financial Services Pvt Ltd. • Commodity broking services provided by SMC Comtrade Ltd. • Real Estate Advisory services are offered through SMC Real Estate Advisors Pvt. Ltd.


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

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

Open my trading account now!  X 

* All fields are compulsory