Fri, February 23, 2024

Stocks: Hong Kong-listed Shares and Financial Regulator

Stocks and Peter Navarro

On Wednesday, Hong Kong-listed shares of HSBC fell 9.06%. It is worth noting that, Standard Chartered has a primary listing on the London Stock Exchange. Moreover, it has a secondary listing on the Hong Kong Stock Exchange and the National Stock Exchange of India. In April, Hong Kong-listed shares of Standard Chartered dropped 6.83%. It was a tough day not only for the banks but for the stocks in general.

As a reminder, the U.K. financial regulator asked British lenders to cancel dividend payments due to the coronavirus pandemic. This news affected the shares of HSBC and Standard Chartered.

In Japan, Nikkei 225 fell 4.5% to close at 18,065.41. The shares of robot maker Fanuc dropped 6.58%. Another Japanese stock index Topix fell 3.7% to end its trading day at 1,351.08.

Mainland Chinese stocks and manufacturing activityStocks and manufacturing activity

Mainland Chinese stocks suffered losses on the first day of April. The Shanghai Composite index fell 0.57% to about 2,734.52. At the same time, the Shenzhen composite decreased 0.351% to around 1,660.08.

Interestingly, Chinese stocks fell even though Chinese manufacturing activity expanded in March.

Importantly, the Caixin/Markit Manufacturing Purchasing Managers’ index (PMI) for March reached 50.1. The result surpassed the expectations.

Moreover, compared with the last month of winter, this result is quite positive. As a reminder, in February stood at 40.3. It was the sharpest contraction on record. It is worth mentioning that, PMI readings below 50 signify a contraction, while figures above level indicate an expansion.

The official manufacturing PMI, the result was even higher as the index for March came in at 52.0. This result indicates that manufacturing expanded and this happened at a time when authorities around the globe are trying to soften the economic impact of coronavirus pandemic.

At the moment, it is crucial not for China but the global economy as well to stabilize the situation as soon as possible.

YOU MAY ALSO LIKE

Ahead Of The US CPI Release, The Dollar Rises On High Yields

Quick Look The US Dollar dips below 104.00 as risk sentiment improves,

Swiss Valcambi suspected of acquiring gold of dubious origin

Quick Look U.S. crude oil inventories surged by 7.2 million barrels, exceeding

Stocks in Asia-Pacific

Quick Look Dow Jones and S&P 500 futures show modest gains, while

COMMENTS

Leave a Comment

Your email address will not be published. Required fields are marked *

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spreads
    Sending
  • Trading Instument
    Sending

BROKER NEWS

Unlock Success: Marketrocks’ 2000+ Trading Instruments

Embarking on a narrative about Marketrocks, we delve into the essence of what makes this trading platform a beacon for investors navigating the tempestuous seas of the financial markets. This reimagined exploration aims

BROKER NEWS

Unlock Success: Marketrocks’ 2000+ Trading Instruments

Embarking on a narrative about Marketrocks, we delve into the essence of what makes this trading platform a beacon for investors navigating the tempestuous seas of the financial markets. This reimagined exploration aims to