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Stocks

Stocks
Stock market action from around the world, with a focus on Hong Kong, China and the rest of Asia.
US President Donald Trump’s “big beautiful bill”, signed at the White House in Washington, US, on July 4, is expected to add US$3.4 trillion to the budget deficit over the next decade. Photo: Reuters
United States

Opinion | Decades of America’s ‘exorbitant privilege’ is ending, thanks to Trump

The US president is systematically destroying faith in the dollar in global financial markets and among governments and central banks.

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Hong Kong stock market

Hong Kong stocks snap 3-day decline on optimism about US trade deals

Banking & finance

Chinese stocks on track to pay US$419 billion in 2025 dividends: Goldman

Banking & finance

Aberdeen, BlackRock make case for US assets on tax and earnings drivers

Investors caution against shorting the US dollar despite its steep decline versus major currencies this year amid the de-dollarisation move.

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Zhang Dongyue, Asia-Pacific head of multi asset and investment solutions specialists at Aberdeen Investments. Photo: Aileen Chuang
Hong Kong stock market

Hong Kong stocks fall as investors await progress on US trade deals

Trump’s 90-day pause on tariffs scheduled to end on July 9; insurer FWD Group rises after debuting in Hong Kong.

IPO

FWD rises as it ends listing quest with a win in its hometown market

The Hong Kong IPO is not the end-game for the home-grown Hong Kong insurer, as its CEO Huynh eyes a new growth phase.

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Hong Kong stock market

Editorial | Hong Kong’s stock rally was no fluke, but there’s no room for complacency

US tariffs highlighted Hong Kong’s advantage: close ties to the mainland that brought both policy support and gains from the global fallout.

Bull statues are placed in font of screens showing the Hang Seng Index and stock prices outside Exchange Square in Hong Kong in August 2023. Photo: Reuters
Hong Kong economy

Hong Kong’s IPO boom a sign overseas investment push is working, Paul Chan says

Finance minister says market ‘optimistic’ that first-half performance will continue, as city rises to top of global IPO table.

Hong Kong stock market

De-dollarisation trend to continue, favouring Asian assets: Societe Generale

‘We acknowledge that US exceptionalism is diminishing and that de-dollarisation is under way,’ analysts say.

Hong Kong stock market

Bull market in stocks fills Hong Kong’s coffers, plugs holes from property woes

Duties from transactions and transfers rose to HK$29.69 billion (US$3.78 billion) in the first five months of 2025, according to calculations by the Post.

Hang Seng Index on display at the Hong Kong stock exchange on February 27, 2025. Photo: Nora Tam
Hong Kong stock market

Hong Kong stocks slip as traders shun risks before deadline on US tariff deals

The Trump administration has warned of high unilateral tariff rates as Japan, South Korea and the EU scrambled to negotiate.

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A man walks past an electronic display board at the Hong Kong Stock Exchange in Central. Photo: Xinhua
United States

Hong Kong investors triple gold holdings in rush to haven asset: HSBC survey

Hong Kong investors allocate 11 per cent of their portfolios to gold and other precious metals, up from 4 per cent a year ago.

United States

Macroscope | Why investors banking on ‘peak Trump’ are dangerously wrong

A recent set of upbeat reports shows markets underestimate Trump’s capacity to inflict more damage on the US and global economy.

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China stock market

Chinese stocks to stagnate in second half on lack of catalysts, top brokerages say

For now, yuan-denominated stocks ‘are fairly valued’, analyst says, amid deflationary trend and sluggish earnings growth.

A display of stock market quotes in China. Photo: Shutterstock
Hong Kong stock market

Hong Kong stocks drop as US trade deals signal hurdles for China’s exports

Latest trade deal with Vietnam suggests the US is targeting Chinese supply chains around the region.

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An investor looks stock prices inside a brokerage in Shanghai. Photo: Reuters
Hong Kong stock market

China’s Laopu Gold surges 15% as investors devour newly available shares

Stock hits a record, bucking concerns that newly available shares – a 40 per cent stake – would trigger a pullback.

Hong Kong stock market

Hong Kong stocks gain amid surge in mainland fund inflows, Beijing pledge

Southbound net purchases in the first half amounted to 90 per cent of last year’s record inflows, according to stock exchange data.

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HKEX

Hong Kong’s all-male boards are all but gone as firms embrace diversity

More than 800 women have been added as directors since 2022, when 40 per cent of boards were male only, according to HKEX.

The logo of bourse operator Hong Kong Exchanges and Clearing is displayed at the Hong Kong stock exchange in Central on June 5, 2024. Photo: Edmond So
IPO

Regulatory curbs hurt mainland China IPOs, ceding first-half crown to Hong Kong

In the first half of 2025, 50 companies raised a combined US$4.7 billion by selling shares on the Beijing, Shanghai and Shenzhen exchanges.

China stock market

Chinese stocks trade near 3-month high as manufacturing, home sales rebound

Private reports showed manufacturing and home sales in mainland China recovered in June from a month earlier.

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China economy

China’s crackdown on banquets, booze dims spending outlook: Goldman Sachs

Investors are also sceptical that the government’s incremental policy easing will be sufficient, the US investment bank says.

Shares in distiller Kweichow Moutai, a brand synonymous with lavish banquets, fell more than 6 per cent over the past month. Photo: Getty Images
Hong Kong stock market

Mainland investors on track to beat Hong Kong stock buying record set in 2024

Investors from the mainland buy more than US$93 billion worth of Hong Kong stocks in the first half of 2025.

Exchange Square in Central. Photo: Eugene Lee
Hong Kong stock market

Top banks bullish on Hong Kong, China stocks amid policy support, earnings

Standard Chartered is overweight on allocations to Chinese equities, while UBS expects the premium between A and H shares to narrow further.

IPO

Back at No 1: Hong Kong’s first-half IPOs soar eightfold to US$13.5 billion

A total of 42 companies raised US$13.5 billion on the main board of the Hong Kong stock exchange during the first half, LSEG data shows.

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Hong Kong stock market

Hong Kong stocks surge with boost from Trump

Shares in Hong Kong have surged 20 per cent this year as mainland stock buyers pour money into the city and global investors look for opportunities outside the US.

Hong Kong’s stock exchange operator displays its IPO gong. Photo SCMP
Hong Kong stock market

Hong Kong stocks slide as China manufacturing shrinks, US trade deadline looms

China’s official PMI manufacturing index contracted for a third straight month in June, despite a truce on US export tariffs.

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An electronic board showing stock data as people walk on a pedestrian bridge at the Lujiazui financial district in Shanghai. Photo: Reuters
IPO

Hong Kong’s IPO dominance leaves Singapore grasping for lost allure

The listings of IFBH and Mirxes underline Hong Kong’s superiority, but Singapore is not giving up, bankers and analysts say.

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United States

S&P500, Nasdaq hit record highs on renewed AI bets, rate-cut hopes

A US-brokered ceasefire between Israel and Iran that sparked higher crude prices also boosted market confidence.

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