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Gains In The Hang Seng Dominate

EQUITIES

The Hang Seng stole the headlines in Wednesday’s Asia-Pac session, benefitting from hopes re: fiscal support for the Chinese economy in lieu of comments made by the Chinese Finance Minister, BBG source reports indicating that “Chinese authorities are planning to usher in further support measures to ease liquidity stress at some of the nation’s too-big-to-fail developers as the property downturn persists” and news that Ant Group’s consumer finance unit received approval to more than double its registered capital. Gains in the property sector and tech giant Alibaba (who own Ant Group) stood out in the wake of the news flow. The benchmark Hang Seng Index trades over 2.00% higher on the day at typing.

  • Wider equity market performance was a little more mixed, with the Nikkei -1.5% as Tokyo returned from holiday and adjusted to moves in U.S. equity markets since the turn of the year, alongside a slightly stronger JPY in early ‘23.
  • China’s CSI 300 is little changed as we move towards the bell, after dealing either side of unchanged.
  • E-mini futures are 0.1-0.3% higher, with the NASDAQ 100 leading gains after tech giants Apple & Tesla traded heavily on Tuesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
EM BulletHomepageEmerging Market NewsEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
EM BulletHomepageEmerging Market NewsEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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