^HSI - HANG SENG INDEX
| Previous close | 26,754.12 |
| Open | 26,820.73 |
| Volume | 0 |
| Day's range | 26,423.90 - 26,820.73 |
| 52-week range | 24,540.63 - 30,280.12 |
| Avg. volume | 1,588,762,503 |
- FX Empire
Asian Indexes Mixed; Energy Shares Drop on Crude Oil Weakness
Crude oil prices plunged on Tuesday after the Saudi energy minister said the kingdom’s oil supply will soon be back online. The drop in crude oil prices spread weakness throughout the Asia Pacific region on Wednesday.
- Bloomberg
Treasuries Rally on Eve of Fed Decision; Oil Sinks: Markets Wrap
(Bloomberg) -- Treasuries rallied and stocks eked out a gain a day before the Federal Reserve is expected to cut interest rates. Oil plunged as Saudi Arabia restarted the plant damaged in a weekend attack.Crude gave back some of Monday’s 15% surge as Saudi officials said they had restored just under half the output lost at the Abqaiq plant, one of the world’s biggest oil facilities. The S&P 500 Index posted a small advance, with dividend paying real-estate shares faring best. Ten-year Treasury yields fell toward 1.8% and the dollar weakened after the New York Fed took action to calm money markets, injecting billions in cash to quell a surge in short-term rates that was threatening to drive up borrowing costs for companies and consumers.As U.S. policy makers get ready to decide interest rates, investors are also trying to gauge the risk of a potential oil shortage weighing on a global economy that already seemed to be slowing down. Meanwhile, concerns linger about trade tensions, with U.S. and Chinese working-level negotiators set to resume talks in the next week, before a meeting of top officials in October.The Saudi attack has reminded investors about the risks of geopolitical tensions escalating, according to Nela Richardson, an investment strategist at Edward Jones in St. Louis.“We’ve pointed to U.S. trade escalation, we’ve pointed to Brexit, but we’ve seen that over the course of the last two years, unexpected triggers of risk can pop up,” she said. “And we don’t always know where that’s going to come from.”The Stoxx Europe 600 edged lower. Equities in Shanghai and Hong Kong slid after China’s central bank disappointed investors when it refrained from lowering a key interest rate. Italian bonds fell after former Prime Minster Matteo Renzi left the Democratic Party, raising the prospect of further government instability. Emerging-market stocks headed for their first decline in five sessions.These are some key events to keep an eye on this week:The Federal Reserve is widely expected to lower U.S. interest rates in response to slowing global economic growth and muted inflation. Chairman Jerome Powell will hold a post-decision press conference Wednesday.The Bank of Japan monetary policy decision is on Thursday, followed by a briefing from Governor Haruhiko Kuroda.Bank Indonesia and Bank of England also decide policy on Thursday.Australia jobs figures are out Thursday.Friday is quadruple witching day for U.S. markets. When the quarterly expiration of futures and options on indexes and stocks occurs on the same day, surging volatility and trading can follow.Here are the main moves in markets:StocksThe S&P 500 Index rose 0.2% at the close of trading in New York.The Stoxx Europe 600 Index slid less than 0.1%.The Shanghai Composite Index declined 1.7%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.2%.The British pound rose 0.6% to $1.25.The Japanese yen was little changed at 108.16 per dollar.The euro rose 0.7% to $1.1072.BondsThe yield on 10-year Treasuries declined four basis points to 1.8%.Germany’s 10-year yield rose one basis point to -0.48%.Britain’s 10-year yield was little changed at 0.69%.CommoditiesGold climbed 0.3% to $1,503.13 an ounce.WTI crude dropped 6.1% to $59.06 a barrel.\--With assistance from Gregor Stuart Hunter, Andreea Papuc and Laura Curtis.To contact the reporters on this story: Vildana Hajric in New York at vhajric1@bloomberg.net;Brendan Walsh in Austin at bwalsh8@bloomberg.netTo contact the editors responsible for this story: Samuel Potter at spotter33@bloomberg.net, ;Jeremy Herron at jherron8@bloomberg.net, Brendan Walsh, Todd WhiteFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Market Realist
Trade War and Oil: Double-Trouble for China’s Economy?
Just as the Fed is set to ponder an interest rate cut amid fears of a US slowdown, the People’s Bank of China has kept its one-year interest rate steady.
- Bloomberg
China Stocks Fall, Yuan Weakens as Central Bank Holds Loan Rate
(Bloomberg) -- China’s restrained approach to easing spooked financial markets Tuesday, with stocks and the yuan dropping the most in weeks.The Shanghai Composite Index retreated 1.7%, its biggest decline in more than two months, to close below the psychologically important 3,000 level. The onshore yuan fell 0.37%, the most in three weeks, to 7.0950 a dollar as of 5:23 p.m. in Shanghai. The yield on China’s 10-year government bonds rose for a sixth day. In Hong Kong, the Hang Seng Index lost 1.2%.China’s central bank drained funds from the financial system and kept the one-year rate on medium-term loans steady on Tuesday morning, a move analysts said shows it’s sticking with its prudent approach to stimulus. That’s even after data Monday signaled the economy slowed in August, with industrial output, retail sales and fixed-asset investment rising less than anticipated.“Investors now realize the central bank won’t ease its monetary policy as aggressively,” Zhang Gang, a strategist with Central China Securities Co. “The market was due for a pullback after the Shanghai index climbed above 3,000 point level. Turnover failed to keep up.”Tuesday’s losses break the calm that had returned to the country’s stocks, bonds and currency markets in recent weeks, helped by the expectation China wouldn’t allow anything to overshadow its National Day on Oct. 1. A thaw in the trade war had also helped boost sentiment.The move from the People’s Bank of China comes after its cuts to banks’ reserve ratios came into effect this week, adding an expected 800 billion yuan ($113 billion) in liquidity to the financial system. The Federal Reserve is widely expected to lower interest rates at its policy meeting this week.Stock turnover has dropped since early September, when the Shanghai Composite Index tested the key 3,000-point level intraday for the first time in two months. It was about 26% lower than this month’s high on Tuesday.\--With assistance from Ken Wang.To contact Bloomberg News staff for this story: Amanda Wang in Shanghai at twang234@bloomberg.net;Tian Chen in Hong Kong at tchen259@bloomberg.netTo contact the editors responsible for this story: Richard Frost at rfrost4@bloomberg.net, ;Sofia Horta e Costa at shortaecosta@bloomberg.net, Philip GlamannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- FX Empire
China’s Weak Industrial Production, Retail Sales Highlight Need for Easing Monetary Conditions
Chinese retail sales and investment gauges also worsened, reinforcing views that China is likely to cut some of its key interest rates this week for the first time in over three years to prevent a sharper slump in activity.
- FX Empire
Asia Stocks Higher as Trump Delays Tariffs on China
Hong Kong Exchanges and Clearing Limited (HKEX) said Wednesday it had made a proposal to the board of London Stock Exchange Group Plc (LSE) to “combine the two companies,” in a deal which values the (LSE) at about 29.6 billion Pounds or $36.6 billion.
- Reuters
Cathay Pacific freezes new hiring, to focus on cost cuts: memo
Cathay Pacific Airways Ltd has put a freeze on new hiring, according to an internal memo seen by Reuters, as the airline battles a slump in demand from fliers avoiding Hong Kong amid massive anti-government protests in the city. In a memo to staff on Wednesday evening, new Chief Executive Augustus Tang said he had asked executives to examine spending and focus on cutting costs. The airline will also not replace departing employees in non-flying positions unless approved by a spending control committee, he said.
- Reuters
LSE board poised to decide fate of Hong Kong exchange's $39 billion offer
HONG KONG/LONDON/NEW YORK (Reuters) - The London Stock Exchange's board will meet in coming days to decide on the Hong Kong bourse's surprise $39 billion takeover proposal, a source close to the British company said on Thursday, as the market poured cold water on the deal. The unsolicited takeover offer is not expected to succeed given a preference among LSE investors for the exchange to complete its $27 billion proposed acquisition of data and analytics group Refinitiv, the source close to the LSE said. The exchange wants to focus on executing that deal, rather than risk it being derailed by the Hong Kong bourse, the source said.
- Yahoo Finance UK
Chinese startup Byton built its first car to be a 'smartphone on wheels'
Daniel Kirchert, co-founder and CEO of the Chinese car startup Byton speaks to Yahoo Finance UK.
- FX Empire
Apple Suppliers Trading Higher in Asia
On Tuesday, Apple revealed launch dates and pricing for its much-anticipated Apple TV and Apple Arcade subscription services. Both services cost $4.99 per month, which undercuts competitors like Disney’s streaming platform, Disney+, and Google’s cloud gaming service, Stadia.
- Bloomberg
Stocks Jump Late to Close Positive; Bonds Fall: Markets Wrap
(Bloomberg) -- U.S. stocks erased losses in the final moments of trading as investors continued to gravitate to value shares.Treasury yields rose for a fifth day.The Dow Jones Industrial Average closed positive, while the S&P 500 was little changed and the Nasdaq ended in negative territory. The Dow had briefly turned up midday following a report that China is ready to buy more U.S. agricultural products.“That’s the tug of war that’s going on right now,” said Matt Maley, an equity strategist at Miller Tabak & Co. “It’s between monetary policy and the trade war.”Areas of the market that were previously this year’s best performers fell the most. The opposite was true, too, with energy stocks gaining and small caps outperforming for a second day.“The rotation from growth to value started a couple of weeks ago, but was out-sized yesterday,” said Michael O’Rourke, JonesTrading’s chief market strategist. “That caught people offside so they need to de-risk more until the situation stabilizes.”The pound fluctuated as embattled British Prime Minister Boris Johnson insisted he won’t ask for another Brexit delay, while U.K. wage and unemployment data beat estimates. Most euro-zone sovereign bonds nudged lower as European Central Bank officials prepare to meet.The recent pullback in the bond rally “is a correction to an outsized move in yields during August, not a turn in the trend,” Kit Juckes, chief global FX strategist at Societe Generale SA, wrote in his daily note. “Last Friday’s U.S. labor market data show, clearly enough for me, that the U.S. economy is slowing slowly but steadily as the global trade slowdown infects it.”Investors are awaiting the ECB’s policy decisions on Thursday and those next week by the Federal Reserve and Bank of England as they assess how much monetary easing may be looming.Elsewhere, oil plunged after President Donald Trump fired one of his most hawkish advisers. Futures fell as much as 1% after Trump announced that National Security Advisor John Bolton was out.Here are some key events coming up this week:OPEC’s monthly oil market report, which includes demand forecasts and production estimates, is due Wednesday.The ECB policy meeting Thursday is widely expected to see a cut to interest rates and a review of all options, including QE. Policy makers will also publish forecasts for growth and inflation. ECB President Mario Draghi will hold a press conference.U.S. data for August is due on producer prices Wednesday, and CPI Thursday.These are the main moves in markets:\--With assistance from Lu Wang.To contact the reporters on this story: Vildana Hajric in New York at vhajric1@bloomberg.net;Sarah Ponczek in New York at sponczek2@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave LiedtkaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- FX Empire
Asia Pacific Markets Mixed; China Inflation Data Raises Policy Concerns
Rising CPI and falling PPI could raise a problem for policymakers since they are trying to stimulate the economy with lower interest rates. Lower rates could prop up the PPI, but they could also send the CPI higher, which could hurt the economy if it starts to run away from the benchmark.
- FX Empire
Asia Pacific Stock Markets Supported by ‘Soft’ Risk On Theme
Chinese customs data showed the country’s exports unexpectedly fell in August, pointing to further weakness in the world’s second largest economy. Japan’s economy grew an annualized 1.3% in the April to June quarter, according to revised data from the Cabinet Office on Monday. That was lower than the initial estimate of a 1.8% expansion, but matched market expectations.
- Reuters
Home Credit to test Hong Kong IPO market as protests convulse city
Consumer lender Home Credit is poised to offer the biggest test of Hong Kong's capital markets since China's Alibaba delayed plans for a $15 billion listing last month because of the political turmoil engulfing the city. The Prague-based lender, which has a sizeable Chinese business, could launch its initial public offering as soon as this month, and is seeking to raise more than $1 billion from the offering in the first of a series of significant IPOs planned in the city. Hong Kong's markets have been weakened by frequently violent pro-democracy protests and political turmoil over the past three months, slashing a 12% gain for the year to June on the blue-chip Hang Seng Index to a 3% positive performance by Monday.
- Bloomberg
Hong Kong Halts Derivatives Trading After Technical Problems
(Bloomberg) -- Hong Kong’s exchange operator halted derivatives trading because of technical issues for the first time in its history, deepening losses in the local stock market at a time of heightened sensitivity about the city’s status as Asia’s premier financial hub.The move to suspend trading in the afternoon and after-hours sessions came after Hong Kong Exchanges & Clearing Ltd. experienced connectivity issues with its derivatives platform on Thursday morning. The exchange’s websites also faced intermittent access problems. The firm said the problem was caused by a software issue in the vendor-supplied trading system.The issues hampered trading in the morning just as Hong Kong Chief Executive Carrie Lam gave a press conference about the demonstrations that have rocked the former British colony for three months, during which she resisted protesters’ calls to immediately meet the rest of their demands. The MSCI Hong Kong Index fell 1%, extending declines after the halt in derivatives trading. It had rallied the most since 2011 on Wednesday as Lam formally withdrew a controversial extradition bill.“I’ve been doing this since 2003 and I don’t recall anything like this,” said Martin Wong, head of exchange-traded solutions in Asia Pacific for the equity derivatives team at BNP Paribas SA. “Because the futures market is closed, there is no efficient way to hedge.”Trading in September Hang Seng Index futures totaled 60,070 contracts before the suspension, down 80% from the previous day. Volume in call and put options linked to the Hang Seng Index was less than 5% of the 20-day average, according to data compiled by Bloomberg.“It’s very troublesome for investors as we can’t hedge,” said Steven Leung, executive director at UOB Kay Hian (Hong Kong) Ltd. “If something unexpected happened this afternoon, basically we are unable to respond effectively.”(Adds comment from exchange operator.)\--With assistance from Gregor Stuart Hunter, Fox Hu and Alfred Liu.To contact the reporters on this story: Magdalene Fung in Hong Kong at sfung76@bloomberg.net;Jeanny Yu in Hong Kong at jyu107@bloomberg.net;Moxy Ying in Hong Kong at yying13@bloomberg.netTo contact the editors responsible for this story: Sofia Horta e Costa at shortaecosta@bloomberg.net, Michael Patterson, David WatkinsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- FX Empire
Asia Pacific Shares Jump as US and China Agree to Resume High-Level Trade Talks
After the announcement of the resumption of trade talks between the United States and China in early October, the Australian and New Zealand Dollars rose on economic optimism and the Japanese Yen fell as investors shed safe-haven positions for more attractive higher-yielding currencies.
- Market Realist
Micron Stock Is Soaring Today: Here’s Why
Micron Technology (MU) stock is gaining momentum. The stock rose more than 3% in the pre-market session and more than 5% at 10:19 AM ET.
- Reuters - UK Focus
UPDATE 1-EMERGING MARKETS-HK stocks boost emerging markets; FX eyes best day in 11-weeks
Hong Kong stocks led a rally in emerging market shares on Wednesday after reports that the government may withdraw a controversial extradition bill, and developing world currencies were on pace for their best daily gain in nearly 11 weeks. Shares on the Hang Seng index had closed nearly 4% higher on the reports, which were later confirmed by Hong Kong leader Carrie Lam. The withdrawal of the bill, which would have allowed extraditions to mainland China, ushered in a sense of respite after months of unrest that has thrown the Chinese-administred city into its worst crisis in decades.
- Bloomberg
Hong Kong’s Tycoons Recoup $9 Billion on Optimism Unrest to Ease
(Bloomberg) -- The 10 tycoons who lost about $27 billion over the past six weeks from a stock rout in Hong Kong recouped a third of those losses Wednesday on optimism the political unrest roiling the city is set to ease.The local benchmark Hang Seng Index soared 3.9% on Wednesday, the most in 10 months, after the South China Morning Post said Chief Executive Carrie Lam was planning to formally withdraw an extradition bill that set off the protests in June. The leader announced the move after market hours.Read Also: Hong Kong Stocks Surge Most Since 2011 on Bill Withdrawal ReportThe day’s rally added $9.4 billion to the net worth of the tycoons whose fortunes are mainly tied to Hong Kong-listed companies. Their total wealth grew to $203.5 billion, according to the Bloomberg Billionaires Index.The turmoil since the introduction of the controversial legislation, which would’ve allowed extraditions to China, has dented retail to property sales in Asia’s financial hub. The mostly weekend demonstrations have seen some of the fiercest clashes between protesters and riot police.“Anything that promotes an easing of uncertainty and tension is a market positive, but only to the degree that some risk premium is removed,” said Patrick Bennett, head of macro strategy for Asia at Canadian Imperial Bank of Commerce.\--With assistance from Pei Yi Mak.To contact the reporters on this story: Venus Feng in Hong Kong at vfeng7@bloomberg.net;Livia Yap in Singapore at lyap14@bloomberg.netTo contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Sam NagarajanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg
Hong Kong Stocks Surge Most Since 2011 on Bill Withdrawal Report
(Bloomberg) -- Hong Kong stocks soared on reports Chief Executive Carrie Lam will formally withdraw the extradition bill that’s sparked months of protests.The MSCI Hong Kong Index surged 5.4%, its biggest gain since October 2011. Real estate firms led the gains, with Wharf Real Estate Investment Co., New World Development Co. and Sun Hung Kai Properties Ltd. all up more than 9%. The Hong Kong dollar strengthened as much as 0.08%. The Hang Seng Index closed 3.9% higher.After the market closed, Lam announced the formal withdrawal of the legislation, which had earlier been reported by media including the South China Morning Post. Hang Seng Index futures fell as much as 1% after her televised address, which didn’t include the setting up of an independent commission of inquiry into police violence -- one of the requests of protesters.The withdrawal of the bill could provide a way to reduce public anger and stem the protests that have swept the city since June, although it’s unclear whether demonstrators will be appeased. The MSCI Hong Kong Index tumbled 8.6% last month as increasingly violent street clashes, the trade war and an economic slowdown darkened the outlook for the city’s companies.If the withdrawal "can somehow improve the situation and ease the unrest, that’s great news," said Sam Chi Yung, a strategist with Springwaters Financial Securities Ltd. "But I’d stay cautious," he added.The Hang Seng Properties Index rose 7.4%. The gauge had tumbled more 20% since its April high through Tuesday. Sun Hung Kai Properties Ltd. had its best gain since 2009. MTR Corp., which has seen a number of stations deliberately damaged in the protests, climbed 6.4%.Here’s what other analysts are saying about the stock market reaction. Quotes have been edited and condensed for clarity:Patrick Bennett, head of macro strategy for Asia at Canadian Imperial Bank of Commerce:Anything that promotes an easing of uncertainty and tension is a market positive, but only to the degree that some risk premium is removed. Economic fundamentals will always dominate longer term. In that regard, the influence of ongoing trade tensions and the impact on Hong Kong businesses and sentiment from the last few weeks will take time to recover.Gary Ching, vice president of the research, wealth management department at Guosen Securities (HK)It’s unlikely that retracting the bill will be enough to placate the unrest -- this concession by the government may instead motivate protesters to do more to get their other demands met. Nader Naeimi, head of dynamic markets at AMP Capital Investors Ltd.:"A huge tail risk has been reduced. This, together with easing market concerns over Chinese retaliation against U.S. companies in the trade war and expectations of a significant monetary easing by the ECB soon, opens a window for a strong rebound in markets ahead of the Fed meeting later in September."Gavin Parry, Hong Kong-based managing director at Parry Global Group."Just as the U.S. markets hang on tenterhooks for any kind of positive news from the trade talks, the Hang Seng Index is mirroring that in terms of the domestic impasse. These markets are really looking for a decent reason to break out. All major central banks are on an easing stance. That’s the undercurrent underwriting global sentiment, looking for positives in relation to that.’"Colin Harte, portfolio manager at BNP Paribas Asset Management in London:"It depends on how the protesters respond – whether they treat this as a victory and calm down and hold dialogue, or whether some of them get excited and think ’let’s push further’.”\--With assistance from Philip Glamann, Jeanny Yu, April Ma, David Watkins, Amanda Wang and Tian Chen.To contact Bloomberg News staff for this story: Livia Yap in Singapore at lyap14@bloomberg.netTo contact the editors responsible for this story: Will Davies at wdavies13@bloomberg.net, Richard Frost, David WatkinsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- FX Empire
USD/JPY Fundamental Daily Forecast – Demand for Risk, Dovish BOJ Comment Boost Dollar/Yen
The Dollar/Yen is also being boosted by a surge in U.S. equity markets shortly before the cash market opening after a report showed growth in China’s services sector had expanded at its fastest rate in three months in August, despite broader economic headwinds.
- Reuters - UK Focus
EMERGING MARKETS-HK stocks, China data boost emerging market shares; FX higher
Hong Kong stocks led a rally in emerging market shares on Wednesday after reports that the government may withdraw a controversial extradition bill, while upbeat Chinese data somewhat allayed fears over sluggish global growth. The possible withdrawal of a bill that would have allowed extraditions to mainland China ushered in a sense of respite after months of unrest that has thrown the Chinese-administred city into its worst crisis in decades. Hong Kong authorities have not confirmed the reports.
- FX Empire
Asian Shares Higher, Led by 4% Surge in Hong Kong’s Hang Seng Index
Shares of companies that have been pressured lately due to the turmoil in Hong Kong skyrocketed after the announcement. These included railway operator MTR and airliner Cathay Pacific. Shares of both companies surged 6.74% and 7.82% respectively. The good news also helped boost shares in China.
- Bloomberg
Hong Kong Unrest Scars Retailer Sa Sa as Bears Pile In
(Bloomberg) -- Months of unrest in Hong Kong have taken a toll on a major cosmetics retailer in the city.Short bets against Sa Sa International Holdings Ltd. are at the highest in five years, making it one of the most shorted stocks in the financial hub, according to IHS Markit Ltd. Sa Sa, already facing a slowdown in same-store sales toward the end of 2018, has lost nearly two thirds of its market value in 11 months. Its shares slid 24% in August as pro-democracy protests intensified in the city. Sa Sa turned ex-dividend Wednesday, and rose 3.7% after adjusting for trading without the right to dividends.“Sa Sa has been a proxy of Hong Kong’s retail sales outlook, especially of mainland tourists’ spending in the city,” said Kenny Wen, strategist at Everbright Sun Hung Kai Co. “The rising short ratio reflects that investors are really bearish about the outlook of Hong Kong’s retail and tourism industry.”Hong Kong’s retail sales could plunge to a decade low in August after a drop of 11.4% in July, Bloomberg Intelligence says. Tourist visits have slumped after three months of protests that have disrupted transport networks and impacted businesses from property developers and casinos to dried seafood sellers.The bulk of visitors to the city come from mainland China, and they account for a significant amount of retail sales. Tourist arrivals to Hong Kong fell 4.8% from a year earlier to 5.2 million in July, the Immigration Department said. Analysts forecast that Hang Seng Index members will this year see the biggest decline in operating income since the global financial crisis.Other stocks recently experiencing a spike in short interest include two that rely heavily on local sales. Lifestyle International Holdings Ltd. owns the Sogo shopping malls and Wharf Real Estate Investment Co. operates Time Square Hong Kong, near an area that’s been a flashpoint for protests.Bearish wagers on companies with more diversified businesses are much smaller. Jeweler Luk Fook Holdings International Ltd., which generated just half of its revenue from Hong Kong last year, has short interest on around 1.4% of its free float shares. Sa Sa’s is nearer to 14%.Sa Sa and Lifestyle are likely to “suffer the most” given their high earnings exposure to Hong Kong, Citigroup analyst Tiffany Feng wrote in a report last month. It was titled “Hong Kong Retail: A Miserable Summer.”Sa Sa operated 118 stores in Hong Kong and Macau as of March, according to its annual report. In that, the retailer pegged some growth hopes on the expanding mainland market and e-commerce. Sa Sa’s investor relations team didn’t respond to calls and emails seeking comment.“The short interest will keep hovering around high levels for local firms, as we haven’t seen a solution to ease the local unrest,” said Steven Leung, executive director at UOB Kay Hian Ltd. “Share losses could continue, at least in the short term.”(An earlier version of this story was corrected to show Sa Sa’s stock move Wednesday was ex-dividend.)\--With assistance from Amy Li.To contact the reporter on this story: Jeanny Yu in Hong Kong at jyu107@bloomberg.netTo contact the editors responsible for this story: Sofia Horta e Costa at shortaecosta@bloomberg.net, Will Davies, Philip GlamannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
