Hong Kong shares opened lower than the benchmark on Wednesday Hang Seng Index Dropped 1.43% as investors braced for the US dollar release US Federal Reserve‘s Beige Book (a commentary on economic conditions) due later today and the European Central Bank‘s landmark decision on Thursday.
Hong Kong shares in Alibaba, Tencent, Nio and XPeng are down more than 2% at the time of writing.
| share | movement |
|---|---|
| Alibaba group holding company GmbH. BABA | -2.21% |
| JD.com inc JD | -1.86% |
| Baidu Inc BIDU | -3.85% |
| Tencent Holdings GmbH. TCEHY | -2.36% |
| meituan MPNGF | -1.9% |
| Nio Inc NEVER | -3.3% |
| XPeng Inc XPEV | -4.39% |
| Li car inc LI | -1.62% |
China is expected to release its August trade data, while investors will follow Australia’s GDP numbers afterwards Reserve Bank of Australia raised interest rates by 50 basis points yesterday.
Also read: Oil Losing Steam: With OPEC+ supply cut baked in, all eyes are now on ECB and Fed rate decisions
macro news: That Securities and Exchange Commission (SEC) issued a warning to Chinese companies on Tuesday, urging them not to violate legal and auditing requirements if they switch to US-based auditors to comply with a law that threatens to take the companies off American stock exchanges to take, reported the Wall Street Journal.
According to a new forecast by China’s gross domestic product will grow by an average of 4.5% this decade Oxford Economics, Bloomberg reported.
corporate news: Chinese tech giant Tencent increases its minority stake Ubisoft Entertainment S.A UBSFY in a deal that values the video game maker at more than €10 billion, Reuters reported.
of Thailand WHA group and Warren Buffett-supports BYD BYDDF will announce plans for an electric vehicle manufacturing facility in Thailand Reuters.
Top movers and losers: ENN Energy Holdings Limited and Alibaba Health Information Technology Limited were the biggest losers at Hang Seng after falling more than 2%,…
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