Name: SCMP
Telephone: +852-2680-8888

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

helpersCheckIsPostiesArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

moreOnThisArticles

urlAlias

commentCount

sponsorType

authorLocations

authors

paywallTypes

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

socialHeadline

headline

flag

firstTopic

glossary

flattenTypeIds

publishedDate

additionalInfoBoxes

images

image

relatedLinks

relatedNewsletters

__typename

createdDate

sponsor

factSheets

series

knowledgeQuestion

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

copyrighted

customTimezone

liveContents

Xie Yu

China shares posted solid gains on Monday as sentiment improved on the trade war front and on expectations of more policy support ahead.
Hong Kong stocks, however, were weighed down as another weekend riot hit listed retailers and MTR, the owner and operator of the city’s subway system, which was vandalised. MTR closed down 3.1 per cent, at HK$44, which was 21 per cent off from its July 18 high.
The benchmark Shanghai Composite Index added 1.3 per cent to close at 2,924.1, bolstered by shares in the aviation, technology development, media and communications sectors.
The Nasdaq style ChiNext index shot up by 2.6 per cent to 1,652.3, with 29 companies hitting their daily 10 per cent limit.
The Shenzhen Component Index rose 2.2 per cent to 9,569.5.
Mainland investors are not worried about the relationship between the world’s two biggest economies because trade talks are still going on and making progress, associate director of Eddid Securities and Futures Ryan Chan said.
Hong Kong protests 2019 vs Occupy Central: after 79 days, retailers, investors, developers hit far worse by this year’s demonstrations
“Investors understand that although both sides are showing a tough and adamant stance, it is only a strategy and attitude for negotiations,” said the analyst.


Despite the escalation of the trade dispute, Trump told reporters on Saturday that “as of now” the face-to-face talks scheduled to take place in Washington later this month were still on.
China has yet to confirm the details. But the commerce ministry in Beijing said the two sides were “still discussing” whether a Beijing delegation would travel to the US capital.
On the other hand, a stronger-than-expected reading of the Caixin PMI also bolstered trading sentiment on Monday. The number for August bounced back to expansion territory, at 50.4, after hovering in the contraction territory (below 50) in June and July. It is also the highest since April, indicating a slight improvement of manufacturing sentiment.
Late-night tension between Hong Kong police, residents at three sites after another day of chaos caused by protesters
“Front loading of exports to the US ahead of higher tariffs has supported trade and overall activity growth in the first couple of months this year. However, this effect is expected to fade in the months ahead,” said Stephen Innes, APAC market strategist with AxiTrader in Singapore.
In Hong Kong, however, the market was stung by a new round of protests that disrupted operations at the airport and the MTR. The MTR shut down the Tung Chung line on Sunday.
Cathay Pacific, the city’s biggest carrier that has been dragged into protest fallout, closed 0.4 per cent lower to HK$10.2.
Developers’ cosy ties with politics may explain Hong Kong’s biggest woe: widening income gap in the least affordable city on earth
Retailers and manufacturers of jewellery, watches and clocks, restaurants and hotels also continued their losing streak.
Chow Sang Sang Holdings International, the retailer and manufacturer of gold and gem-set jewellery products, slid by 1.4 per cent to HK$8.8. The company has lost 26 per cent from a recent high at HK$11.9 in mid July.
Of other stocks, Guangzhou Automobile Group tumbled 5.6 per cent to HK$7.5 as Nomura cut the target price to HK$10 from HK$11.5, citing bearish earnings-per-share outlook.
Yanzhou Coal Mining surged by 18.7 per cent to HK$8.1. The company reported a net profit jump of 23.5 per cent year on year to 5.4 billion yuan, and announced it will distribute an interim dividend of 1 yuan per share on Friday night.
Its Shanghai listed shares also hit the daily limit up by 10 per cent to close at 10.5 yuan.
Additional reporting by Deb Price and Holly Chik


Hong Kong stocks post biggest weekly gain in nearly 5 months

Hang Seng Index closes above 18,000 for first time in 2 months after Fed rate cut

Absent stimulus, pain for China stocks will continue, Cambridge Associates says

China’s Midea IPO sparks hopes for Hong Kong listing recovery

Hong Kong stock market

China shares climb on improved trade sentiment, while Hong Kong stocks weighed down by protests

An investor monitors stock prices at a brokerage in Beijing on July 19. Photo: Associated Press

Hong Kong protests 2019 vs Occupy Central: after 79 days, retailers, investors, developers hit far worse by this year’s demonstrations

An anti-government protester uses a tennis racket to return a canister fired by police in clouds of tear gas on Yeung Uk Road on August 25. Photo: Sam Tsang

People look at messages left on a stranded bus by protesters during "Occupy Central with Love and Peace" (OCLP) movement in Mong Kok. 01OCT14

scmp

epa04464164 Hundreds of tents pitched by pro-democracy demonstrators outside the Hong Kong government headquarters during the mass civil disobedience campaign Occupy Hong Kong, in Admiralty, Hong Kong, China, 26 October 2014. The stand-off on the streets of the semi-autonomous Chinese territory, now more than three weeks old, is over electoral reforms offered by Beijing, but rejected as inadequate by activists. EPA/JEROME FAVRE

Developers’ cosy ties with politics may explain Hong Kong’s biggest woe: widening income gap in the least affordable city on Earth

The roots of Hong Kong’s entangled ties between business and politics can be traced to the city’s colonial history. Illustration: SCMP

Jiang Zemin (right) meets Henry Fok Ying-tung (left) in Beijing.

Donald Tsang Yam-kuen leaves the Court of Final Appeal in Central after his final appeal. Former chief executive Donald Tsang was found guilty in 2017 of misconduct in public office. 14MAY19 SCMP / Winson Wong

Picture showing Victor Li Tzar-kuoi, deputy chairman of Cheung Kong (Holdings) Limited and Peter Lee Ka-kit, vice-chairman of Henderson Land Development at the first session of the 12th Chinese People's Political Consultative Conference (CPPCC) opens at the Great Hall of the People in Beijing. 03MAR13 == Photo by Simon Song ==

(100906) -- SHENZHEN, Sept. 6, 2010 (Xinhua) -- Chinese President Hu Jintao (R) meets with Li Ka-shing, chairman of Cheung Kong (Holdings) Limited, on the sidelines of the celebration rally for the 30th anniversary of the founding of the Shenzhen Special Economic Zone, in Shenzhen, south China's Guangdong Province, Sept. 6, 2010. (Xinhua/Li Xueren) (wy)

Business

Banking & Finance


Shanghai Composite Index rises 1.3 per cent, while tech heavy ChiNext jumps 2.6 per cent
In Hong Kong, shares of MTR sank, leaving it down 21 per cent from its July 18 high



MTR – the owner and operator of the city’s subway system – fell 3.1 per cent, after vandalism by protesters forced it to shut down the Tung Chung line on Sunday. Shares are down 21 per cent since July 18.


China shares climb on improved trade sentiment, while Hong Kong stocks weighed down by protests

Shanghai Composite Index rises 1.3 per cent, while tech heavy ChiNext jumps 2.6 per cent In Hong Kong, shares of MTR sank, leaving it down 21 per cent from its July 18 high

Shanghai Composite Index rises 1.3 per cent, while tech heavy ChiNext jumps 2.6 per cent

In Hong Kong, shares of MTR sank, leaving it down 21 per cent from its July 18 high