Hong Kong stocks opened in the green on Wednesday, with benchmark Hang Seng trading marginally higher ahead of the release of FOMC minutes due later today.
On Monday, Cleveland Federal Reserve president Loretta master She reportedly said she thinks the central bank could slow down from the 75 basis point hike at its next meeting and that it is very appropriate.
| share | movement |
|---|---|
| Alibaba group holding company GmbH. BABA | 0.82% |
| JD.com inc JD | 0.51% |
| Baidu Inc BIDU | 2% |
| Tencent Holdings GmbH. TCEHY | 0.94% |
| meituan MPNGF | -1.64% |
| Nio Inc NEVER | 2.23% |
| XPeng Inc XPEV | -0.54% |
| Li car inc LI | 0.92% |
Alibaba stock rose nearly 1% amid news that Chinese authorities could impose a fine of over $1 billion jack maThe ant group. Nio and Baidu shares rose 2%.
Also read: Compare online investment brokers
Macro News: China’s market regulator has proposed a revision of an unfair competition law that would allow fines of up to 5% of a company’s annual turnover. reported Reuters.
Beijing closed parks and museums on Tuesday, while Shanghai tightened rules on people entering the city as China grappled with a surge in COVID-19 cases. reported Reuters.
Company news: Chinese officials are reportedly set to impose a fine of over $1 billion further ant group.
Tesla Inc TSLA is set to announce fresh price cuts in China before the end of the year to boost sales, CnEVPost reported, citing local tech media.
Top winners and losers: WuXi Biologics (Cayman) Inc. and Alibaba Health Information Technology Limited are the top losers in the Hang Seng index, each losing over 3%. ENN Energy Holdings Limited and JD.com, Inc. are the top gainers, each up over 1%.
Global News: US futures were mixed trading in Asia on Wednesday morning. Dow Jones futures rose 0.03% while Nasdaq futures lost 0.20%. S&P 500 futures traded 0.03% lower.
Elsewhere in Asia Pacific…
[ad_2]
Source story
