^HSI - HANG SENG INDEX
| Previous close | 26,893.23 |
| Open | 26,479.90 |
| Volume | 0 |
| Day's range | 26,479.90 - 26,776.06 |
| 52-week range | 24,899.93 - 30,280.12 |
| Avg. volume | 1,585,872,050 |
- Yahoo Finance UK
European stocks sink again as coronavirus panic deepens
Investors are increasingly fearful about the impact on the world’s major economies, with officials now warning that an outbreak in the US is likely.
- FX Empire
Asian Markets Stabilize but Move Seen as Temporary Rather Than Structural
With the outbreak spreading to South Korea, technology companies are now facing new challenges due to the country’s importance in the global technology and semiconductor supply chains.
- Yahoo Finance UK
Coronavirus continues to dent European stocks
European stocks slipped again as investors contended with soaring coronavirus infections and the previous session’s steep losses.
- Bloomberg
Hong Kong Stocks Trade Near Lowest Versus World Since 2004
(Bloomberg) -- Hong Kong stock investors are the worst off in 16 years relative to the rest of the world as concerns mount over the impact of the coronavirus on an economy already reeling from last year’s protests.The Hang Seng Index is near its lowest level relative to the MSCI All Country World Index since 2004, even after Monday’s brutal sell-off in the U.S. The Hong Kong gauge has also decoupled from mainland equities, falling to a three-year low relative to the CSI 300 Index.Hong Kong already faced a gloomy outlook before the coronavirus emerged, as months of political unrest pushed the city’s economy into recession. Tourism has disappeared and retail is suffering, while concern over the impact of the virus on Chinese earnings is also weighing on mainland companies traded in the city. Data on Tuesday showed Hong Kong’s exports fell 22.7% in January year-on-year. “Hong Kong has a rather unbalanced economy, which relies heavily on sectors like retail and tourism that will be hit hard by the virus due to less mainland visitors,” said Ronald Wan, chief executive of Partners Capital International Ltd. “It’s a market with high risk at the moment.”The Hang Seng Index edged up 0.3% on Tuesday while the CSI 300 index slipped 0.2%.City officials aren’t offering much optimism to investors. Paul Chan, the city’s financial secretary, wrote last week that Hong Kong is facing “tsunami-like” shocks and may incur a record budget deficit in the next fiscal year, with coronavirus impacts being felt beyond retail, restaurants and tourism.Hong Kong, restrained by a currency peg to the U.S. dollar, has no independent monetary policy. The city’s legislative council on Friday passed a HK$30 billion ($3.85 billion) spending plan for virus-fighting efforts and to assist businesses. Further steps are to be introduced Wednesday in the government’s budget proposal.In contrast, Chinese authorities have generated a long list of support measures to bolster the world’s second largest economy -- cutting taxes and lowering interest rates among other moves. Chinese President Xi Jinping said authorities will step up policy adjustments to achieve this year’s economic and social goals, state-run CCTV reported Sunday. The stimulus has kept investors there in a buying mood following Feb. 3’s record stock rout.Everything China Is Doing to Support Its Markets During Outbreak“While the Chinese government can utilize both monetary and fiscal policy tools to stimulate its economy, there’s nothing much Hong Kong can do on rates and money supply due to its U.S. dollar peg,” said Alex Wong, director of asset management at Ample Capital Ltd. “There’s no such option as a government rescue, so it’s normal to see lower stock valuations.”Citigroup Inc. analysts said in a research note Monday that Hong Kong shares are liable to continue lagging mainland markets in March. There’s potential for Beijing to announce fresh stimulus next month, they wrote, adding that disappointing earnings news might hurt Chinese-listed equities less than those in Hong Kong. There, institutional investors have a bigger influence and are more worried about fundamentals than retail investors, who dominate Chinese trading.This year’s earnings forecasts for Hong Kong stocks have dropped by the third most among MSCI Asia Pacific ex-Japan companies since mid-January, said Goldman Sachs Group Inc.“Many sectors, including retail, property and tourism, hadn’t recovered yet from the the protests last year and the market was still waiting for their annual reports to gauge the earnings impact,” said Alexious Lee, head of China strategy research at Jefferies Hong Kong Ltd. “Now that we also have the epidemic, nobody knows whether and how worse the Hong Kong fundamentals will be for 2020.”(Updates with closing prices in fifth paragraph, HK export data)To contact Bloomberg News staff for this story: Amanda Wang in Shanghai at twang234@bloomberg.net;Jeanny Yu in Hong Kong at jyu107@bloomberg.net;Amy Li in Shanghai at yli677@bloomberg.netTo contact the editors responsible for this story: Sofia Horta e Costa at shortaecosta@bloomberg.net, Kevin Kingsbury, David WatkinsFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Yahoo Finance UK
What to Watch: Estate agents eye £500m merger, stock markets tank, and profits rise at Express and Mirror owner
A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.
- FX Empire
Asian Markets: South Korea Plunges More than 3%; Airlines, Smartphone Industry at Risk
In response to the rising death toll and the number of coronavirus cases, South Korea has raised its virus outbreak alert to the “highest level” as confirmed case numbers keep rising.
- FX Empire
Some Asian Countries on Brink of Recession as Virus Spreads Outside China
Japan and Singapore are on the brink of recession and South Korea on Friday said its exports to China slumped in the first 20 days of February as the outbreak upends global supply chains.
- Yahoo Finance UK
Stocks fall as Bank of Japan warns of ‘grave’ coronavirus concern
Asian and European stocks sunk on Friday as the Bank of Japan governor issued warnings about the economic impact of the coronavirus.
- FX Empire
Asia Pacific Shares Tumble on Apple Guidance Reduction, HSBC Pre-Tax Profit Miss
Apple Inc. said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China. Europe’s largest bank, HSBC, reported a 33% fall in 2019 pre-tax profit to $13.35 billion after it took a goodwill impairment of $7.3 billion.
- Yahoo Finance UK
Global stocks sink as Apple warns of coronavirus impact
Stocks broadly fell after Apple warned coronavirus would cause it to miss sales targets and constrain the supply of iPhones.
- Yahoo Finance UK
What to Watch: AstraZeneca warns on coronavirus, RBS rebrand and markets' stimulus hopes
A daily overview of the top business, market and economic stories you should be watching today in the UK and abroad.
- FX Empire
Asian Stocks Mostly Higher; Singapore PM Sees Possible Recession from Coronavirus Impact
On Friday, Singapore Prime Minister Lee Hsien Loong said the coronavirus’ economic impact on the island nation’s economy has already exceeded that of SARS in 2003, according to a report by local publication The Straits Times.
- FX Empire
Global Equity Markets Lower on Coronavirus Fears; China Makes Moves to Boost Economy
Global equity markets are down on Thursday as investors trim positions in risky assets and move money into the safety of the Japanese Yen.
- Yahoo Finance UK
Markets sink again as coronavirus death toll leaps
Chinese authorities confirmed 242 deaths after changing how the virus is diagnosed, knocking markets off record highs.
- FX Empire
Asian Markets Post Solid Gains While Experts Differ on Coronavirus Peak
While Chinese health officials said the situation was World under control, the Health Organization (WHO) warned the epidemic posed a global threat potentially worse than terrorism.
- Yahoo Finance UK
European stocks hit new highs as coronavirus fears recede
European stocks climbed further on Wednesday after closing at fresh record highs in the previous trading session.
- Bloomberg
U.S. Stocks Close at Fresh High; Treasuries Slip: Markets Wrap
(Bloomberg) -- Want the lowdown on what's moving Asia’s markets in your inbox every morning? Sign up here.U.S. stocks fought off a late-session swoon to close at fresh heights Tuesday, amid reports that the Federal Trade Commission is looking into acquisitions by some of the country’s biggest tech companies.The S&P 500 Index faded from session highs after the FTC news, with Facebook Inc. and Microsoft Corp. among the decliners. Health-care and consumer-discretionary shares led the day’s advancers. The Dow Jones Industrial Average and Nasdaq 100 were little changed. Ten-year Treasury yields rose, while the dollar dropped for the first time in five sessions.Investors have been more bullish lately despite the coronavirus outbreak, signaling some confidence that central banks could ease policy in the event growth slows down. In remarks to Congress Tuesday, Federal Reserve Chairman Jerome Powell, while positive about the American economic outlook, said the central bank is keeping a close eye on fallout from the epidemic, which continues to disrupt travel and trade.“With fundamentals strong, a robust employment situation and inflation on track, Powell’s cautiously optimistic stance isn’t too surprising, especially since coronavirus fears and trade tensions are at bay,” said Mike Loewengart, vice president of investment strategy at E-Trade Financial. “What remains to be seen is the lasting effect of the coronavirus on global growth, which is already tepid.”Oil bounced back from Monday’s swoon and gold fell. Bitcoin surged back above $10,000. European and Asian equity benchmarks closed higher.Here are some key events coming up:Earnings season continues with reports including MGM Resorts International and Softbank on Wednesday; Thursday will bring Alibaba, Nissan, Credit Suisse, Airbus, Nestle and AIG.A key contest for Democrat presidential hopefuls unfolds Tuesday, when the state of New Hampshire holds a primary vote.Thursday sees a gauge of underlying U.S. inflation, the core consumer price index. It is forecast to increase to 0.2% in January, a faster pace than in December.China and the U.S. on Friday lower tariffs on billions of dollars of respective imports as part of the trade deal signed last month.These are the main moves in markets:\--With assistance from Vildana Hajric and Claire Ballentine.To contact the reporter on this story: Todd White in Madrid at twhite2@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Yakob Peterseil, Andrew DunnFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Yahoo Finance UK
What to Watch: Warehouse fire costs Ocado, market fears ease, and UK economy flatlines
A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.
- FX Empire
Asian Shares Boosted by Easing Concerns Over Coronavirus but China Production Worries Remain
Uncertainty about work resuming at factories in China is setting in, with provinces or cities posting different dates for an extended shutdown as the coronavirus outbreak continues to spread.
- FX Empire
Asian Shares Mostly Lower, but China’s Shanghai Index Posts Modest Gain
China’s factory-gate prices snapped six months of year-on-year declines in January, although prolonged business closures from the coronavirus outbreak mean positive momentum is unlikely to persist.
- Yahoo Finance UK
Stocks slip as UK declares coronavirus 'imminent threat'
The epidemic is now more deadly than the outbreak of SARS in 2003. Fear has returned to the stock markets as the death toll rises.
- FX Empire
Asia Pacific Shares See Red on Profit-Taking Ahead of Weekend; China Trade Data on Tap
Some analysts and economists are downgrading China’s GDP growth forecast for 2020 as the coronavirus outbreak hits the world’s second largest economy. Chinese government economist said that the country’s first-quarter economic growth may drop to 5% or even lower.
- FX Empire
Asia Shares Jump after China Announces Tariff Reduction
Retaliatory duties on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, according to a statement from China’s Ministry of Finance.
- Yahoo Finance UK
What to Watch: European stocks hit record high, Brexit hits Compass, and OnThe Beach's Thomas Cook ad splurge
A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.
- Yahoo Finance UK
Stocks jump as China cuts tariffs on $75bn of US goods
China's Ministry of Finance said the reduced tariffs would 'promote health and stable development of Sino-US economic and trade relations'.
