Image from shutterstock

By Margaret Yang, CMC Markets

China stocks rise cheerfully due to optimism

Catalyzed by the news that the long awaited Hong Kong-Shenzhen link will soon be officially announced, Hong Kong and China stock markets rallied with a boost in investors’ confidence.

According to the latest news, the stock connection between Hong Kong and Shenzhen exchange will be launched as early as December this year as an important step to further liberalise the country’s stock market. Policy makers planned to remove the total trading quota for the Hong Kong-Shenzhen link while maintaining daily trading quota unchanged from that of Hong Kong-Shanghai link.

Shanghai composite rose 2.44% on Monday with trading volume picking up as well. The rally was led by banks, insurance, brokers and property companies. China A50 Index, which tracks the performance of the largest 50 companies listed in Shanghai exchange, went up 2.9%. CSI 300 index, which is a measure of 300 stocks listed in Shanghai and Shenzhen exchange has rallied 3.01%.

Stocks and shares that could be driven by this connection include Hong Kong Exchange (388 HK), CSOP China A50 ETF (2822 HK), Citic Securities (6030 HK) and Hang Seng H-Share Index ETF (2828 HK).

Japan 2Q GDP estimation falls below forecast

Japan’s economy expanded at a rate of 0.2% in 2Q, missing forecast of a 0.7% increase. It also marks a sharp revision down from the 1.7% growth achieved in the first quarter this year. Languishing growth was mainly attributed to lower business spending and contracting exports due to a stronger yen amidst weak external demand.

Business spending declined 0.4% as compared to last quarter, which outweighed the 0.2% increase in private consumption. Nikkei 225 Index closed 0.30% lower.

Stock market climbs higher as WTI above $45

US and European equity markets closed higher on Monday with a three-day crude oil price rally. WTI crude traded above $45 mark for the first time in more than 3 weeks. This comes in light of the rising optimism towards the discussion among OPEC members in the coming September, which is believed to help to stabilize the market.

Dow, S&P500 and Nasdaq have all hit record new heights, with gains mainly from materials, industrials and energy sectors.

Tonight, investors will be watching closely on the US CPI, housing starts, and industrial production data to uncover more clues in the recent developments of the world’s largest economy.

CSOP FTSE China A50 ETF

market26082016

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
You May Also Like

因停车费引争执视频流传 摩根大通吁员工保持素养

员工因为10元隔夜停车费和保安人员起争执,新加坡全球金融服务公司摩根大通(J.P. Morgan)发出邮件,呼吁员工提高个人素质,包括尊重他人及自重。 摩根大通是针对于周末(10月26日)在社交媒体上流传,有关一名印裔男子基于朋友来访,却为了0元隔夜停车费和保安人员起争执,无礼表示自己花大钱(150万元)买下公寓,却要为了停车费被为难。 印裔男子也以上位者的口气“命令”保安人员,让公寓管理层联络他,甚至说出类似种族主义的言论。然而,面对其咆哮和无礼,保安人员只是坚持立场地表示,“我只是在执行责任”。 虽然最后印裔男妥协了,上了朋友的车子到地下停车场,但是有关的视频已经在网上疯传,甚至成为了隔日新闻的头条之一。 据悉,有关事件发生在文庆一带的Eight Riversuites 公寓,而印裔男子也被网民起底,是一名来自印度的专才拉美斯(Ramesh Erramalli),曾经在我国的摩根大通工作。 拒绝公布员工细节 据《海峡时报》指出,当局已意识到有关视频的流传,并且正视有关问题,惟,他们拒绝对拉美斯的工资和在该公司就职时间作出回应。 有关的电邮是由跨国投资银行的新加坡总部高级官员,Edmund…

Lawrence Wong says govt will want to make wearing masks mandatory "in certain circumstances"

The media reported today that all workers handling food will now have…

SPP’s Khan Osman Sulaiman urges Josephine Teo to do better instead of crying and being emotional

Minister for Manpower Josephine Teo teared up in Parliament yesterday (1 Sep)…

【文礼坊砍人案】疑和受害者不认识 嫌犯明面控

警方发文告指出,文礼坊砍人案的18岁嫌犯将于10月9日被控上庭。 据文告指出,裕廊警察局在昨日接获投报后,展开地毯式搜寻和闭路电视的帮助下,确定了嫌犯身份,并于同一天将他逮捕归案。 警方将依据《刑事法典》第224章第326条文,持危险武器蓄意伤人罪进行提控。警方也将和控方合作,寻求法院通过将嫌犯还押到心理卫生学院,以便进行精神评估。 一旦罪成,嫌犯有可能被判无期徒刑或不超过15年的有期徒刑,否则也可能被判鞭刑,或罚款。 据《今日报》报导,嫌犯和受害者其实并不认识,嫌犯不知何故要求受害者帮忙做些事情,但是受害者拒绝了,嫌犯因此持刀砍人。 在事发现场附近工作的居民表示,当时看见两名男子在超市门口大家,其中一名穿着黑衣的男子在砍人后就跑了,而留下受害者头部流血地倒退在地上。 一名在超市工作的女子也表示看到有人持刀看受害者,受害者逃到超市内求救,嫌犯却追进超市内继续砍人。 附近居民Jimmy Rheo指出,有目击者表示,嫌犯发现自己的行为引起民众关注后,就落荒而逃。 附近店家则表示,当时并没有听到任何声音,随后传来一声尖叫声,就见到被袭击后满身是血的伤者。而嫌犯在被人发现后可能感到害怕,就拿着武器逃下楼去。 目击者披露,警方当时将现场封锁并进行数小时的调查工作,甚至在嫌犯追逐伤者时经过的楼梯间,寻获据称是嫌犯干案后逃跑时丢弃的一把15公分的刀。