Asian stocks were mixed on Wednesday on speculation whether the U.S. Fed will maintain its dovish policy stance and following reports of Chinese stimulus.» Read More
Asian shares rose on Tuesday as recent selling drew bargain hunters ahead of more U.S. economic data and a Federal Reserve policy decision later in the week.
Asian shares ended mixed on Wednesday after rounds of profit taking from a sharp rally at the start of the new year subsided, while investors waited warily for corporate earnings season to kick off in full force.
Asian stocks drifted on Monday as investors booked profits from a New Year rally that had pushed markets to multi-month highs, but financial stocks gained after global regulators decided to relax draft plans for tough new bank liquidity rules.
A turnaround in China's bank earnings seen in the second half of last year is likely to continue into 2013 as the economy improves further, prompting analysts to turn bullish on the sector.
Asian shares closed higher on Wednesday in thin holiday trade despite a lack of fresh triggers. Japanese shares managed to outperform, hitting a 9-month high thanks to a weak yen.
Asian shares were mixed on Friday with a pick-up in China's manufacturing sector lending support but worries over the progress of U.S. budget talks to avert the "fiscal cliff" weighing on investor sentiment.
Zhengzhou Coal Mining shares tumble in its Hong Kong debut, negatively affecting the underwriters of the $300 million offering, underscoring reduced appetite for new IPOs.
Mike Werner, Senior Equity Analyst at Sanford C. Bernstein also said he expects regulation for the Chinese banking sector to accelerate in the next 6 to 12 months.
Daryl Guppy, CEO, Guppytraders.com explains why the 20,000 level on the Hang Seng Index is a buying opportunity for investors as it will lead to further upside.
HONG KONG, Nov 6- China shares were headed for their worst day since Oct. 26 and weighing on the Hong Kong market, with retail investors worried by a state media report about substantial redemptions of the mainland's exchange-traded funds last week.
HONG KONG, Nov 5- Hong Kong shares eased slightly on Monday, as caution ahead of the U.S. presidential election spurred mild profit-taking after a strong run-up last week lifted the Hang Seng Index to a 15- month high.
*Foxconn surges more than 30 pct after Citigroup upgrade. HONG KONG, Nov 5- Hong Kong shares eased slightly on Monday, as caution ahead of the U.S. presidential elections spurred mild profit-taking after a strong run-up last week lifted the local benchmark to a 15- month high.
HONG KONG, Nov 2- Hong Kong shares jumped to their highest level in 15 months on Friday, as fund inflows into the Chinese territory buoyed hopes of further gains leading into the year's end and encouraged investors to build riskier positions.
*HSI up 1 pct, climbs 3.8 pct this month. HONG KONG, Oct 31- Hong Kong shares posted a second-straight monthly gain on Wednesday, bouncing off a near two-week low after Industrial and Commercial Bank of China, the country's largest bank, posted third-quarter earnings that beat expectations.
HONG KONG, Oct 31- Hong Kong shares closed out a second-straight monthly gain on Wednesday, bouncing off a near two-week low after Industrial and Commercial Bank of China, the country's largest bank, posted third-quarter earnings that beat expectations.
Key currencies stayed in recent ranges on Wednesday, waiting for developments in Europe on efforts to solve the debt crisis and for the U.S. monthly jobs report on Friday as well as China's official manufacturing PMI on Thursday. Financial spreadbetters expect London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX to open as much as 0.2 percent lower.
*HSI +0.4 pct; CSI300 flat, Shanghai -0.2 pct. *HSI set for Oct gain, CSI300, Shanghai to post monthly loss. HONG KONG, Oct 31- Hong Kong shares bounced off a near two-week low, buoyed by strength in Chinese banks after the largest, Industrial and Commercial Bank of China, posted third-quarter earnings that beat expectations.
HONG KONG, Oct 31- China's top four banks are on course for their weakest annual profit growth since going public, as the central bank's interest rate cuts in the middle of the year kick in, slicing lending margins.
"The divergence between banks and the real economy looks too good to be sustainable," said Stanley Li, an analyst with Mirae Asset Securities. Two main factors explained the better-than-expected performance from China's banks.
Among active stocks, construction equipment maker Komatsu rallied 3.2 per cent to Y1, 672 on receding concerns over its outlook following second-quarter results. Hitachi jumped 3.2 per cent to Y423 after maintaining its full-year profit forecast.