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Zhang Shidong
Senior Correspondent, Business
Zhang Shidong is based in Shanghai and reports on business for the Post. He joined the team in 2017, following stints covering China's stock market news for Bloomberg and at a local newspaper in Shanghai.
Zhang Shidong is based in Shanghai and reports on business for the Post. He joined the team in 2017, following stints covering China's stock market news for Bloomberg and at a local newspaper in Shanghai.
Areas of Expertise:
Stock markets, data miningLanguages Spoken:
English, Mandarin, Shanghai dialect
Soft US inflation data strengthens the case for monetary easing as the Hang Seng Index gains for a third day.
Hang Seng Tech Index slides after US equities slump, while investors await inflation report.
Hang Seng Index swings as odds of a US Federal Reserve rate cut in January now stand at nearly 26 per cent.
MetaX closes at 829.90 yuan on Wednesday, from its IPO price of 104.66 yuan, after gaining as much as 755 per cent in intraday trading.
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Caution prevails as investors weigh China’s growth prospects after key economic data showed a deceleration across the board.
China’s November retail sales miss estimates, while falling housing prices show no signs of slowing down.
Moore Threads shares drop 13 per cent on Friday after the GPU maker cautions investors to ‘make decisions prudently and invest rationally’.
With China’s stock rally fading, markets are pinning their hopes on the Central Economic Work Conference for signs of clearer policy support.
Securities companies should redouble efforts to help turn China into a global financial powerhouse, says CSRC chairman Wu Qing.
Moore’s shares began trading at 650 yuan amid a declining market, a 468 per cent jump from their initial public offering price of 114.28 yuan.
In addition to rate decisions in US and Japan, traders will watch Beijing’s economic work conference this month for potential catalysts.
Consumer retailers, carmakers and internet companies are expected to bear the brunt of fund outflows.
Rates traders price in more than 90 per cent probability of a quarter-point reduction next week after private US labour market report.
Caution returns ahead of US Federal Reserve and Bank of Japan meetings, as well as China’s economic work conference.
‘A surge in the Japanese yen is once again playing havoc with markets,’ analyst says.
Benchmark records second straight monthly decline as investors ‘pivot to muted risk appetite’ amid ‘a period of policy vacuum’, analyst says.
Rebound may carry on after some consolidation, as investors eye Beijing policy support towards the end of the year, analyst says.
US consumer confidence dropped and retail sales remained sluggish, increasing bets on a US interest-rate cut at the Fed’s December meeting.
Xiaomi and Alibaba among top gainers as more Federal Reserve officials come out in support of an interest-rate cut next month.
Panic spurred by sell-offs in bitcoin and tech stocks subsided on reports of Fed easing and possible sales of Nvidia AI chips to China.
Hong Kong benchmark expands membership to 89 after the inclusion of Innovent Biologics.
Beijing backlash over Sanae Takaichi’s Taiwan remarks – including an import ban and a travel warning – drags ETFs tracking Japanese stocks.
CICC will acquire Dongxing Securities and Cinda Securities through stock swaps with the shareholders of the two smaller rivals.
Concerns about inflated valuations of technology stocks are also driving investors towards bonds.
The availability of 76 million CATL shares in Hong Kong following the expiry of a six-month lock-up period could impede the gains.
First call by a Wall Street bank predicts gains between 3.4 and 4.6 per cent from current levels for gauges including the Hang Seng Index.
China’s October data points to a further slowdown this quarter, while a cloudy US rate cut outlook and frothy valuations dent sentiment.
Alibaba rallies on reports that the e-commerce giant plans to revamp its main app with more AI features that could challenge ChatGPT.
A deteriorating US jobs market last month has increased the probability of an interest-rate cut next month.
