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ASIA STOCKS: China & HK Equities Find Support Ahead Of MOF Meeting

ASIA STOCKS
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  • Chinese equities continue to rally following earlier headlines and hopes that the country’s finance ministry will announce fresh stimulus during a briefing Saturday.
  • Utilities, Consumer Staples & Discretionary stocks are the top performing mainland equity sectors today. Hong Kong listed equities have outperformed mainland peers ahead of a public holiday on Friday, with the HSTech Index +4.15%, Mainland Property Index +5.10%.
  • The Beijing Stock Exchange 50 Index is the top performing major benchmark up 5.86%
  • Stock specific moves have seen Alibaba jumped 4.5% following price targets from some Investment banks, citing higher forecast revenues, Guotai Junan and Haitong Securities rallied after the two brokers disclosed the terms of their proposed merger, 
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  • Chinese equities continue to rally following earlier headlines and hopes that the country’s finance ministry will announce fresh stimulus during a briefing Saturday.
  • Utilities, Consumer Staples & Discretionary stocks are the top performing mainland equity sectors today. Hong Kong listed equities have outperformed mainland peers ahead of a public holiday on Friday, with the HSTech Index +4.15%, Mainland Property Index +5.10%.
  • The Beijing Stock Exchange 50 Index is the top performing major benchmark up 5.86%
  • Stock specific moves have seen Alibaba jumped 4.5% following price targets from some Investment banks, citing higher forecast revenues, Guotai Junan and Haitong Securities rallied after the two brokers disclosed the terms of their proposed merger,