Investing.com-- Hong Kong-listed shares of Chinese food delivery giant Meituan (HK:3690) slumped on Wednesday after the firm warned of softer fourth-quarter revenue due to weak consumer spending in its biggest market.
Shares slumped 11.6% in afternoon trade to an over three-year low of HK$91.10. They were also the worst performers on the Hang Seng index, which was dragged nearly 2% lower by losses in Meituan.
E-commerce giant Alibaba Group Holdings (NYSE:BABA), which competes with Meituan through its Ele.me unit, also recently flagged slowing earnings growth due to weakness in its biggest market.
China slipped into disinflation territory in October, even as Beijing kept up its liquidity injections to shore up spending.
There are still 900 million people to join the middle class, plenty of room for growth in China. The next stage will be led by new economy with technology at the center
It is not the matter of population, it is about with strong and soild alliance. CCP choose to be with evil alliance. Like it or not this is the results.
China Stocks See Record Monthly Streak of Foreign Fund Exodus
By Bloomberg News November 1, 2023 at 7:00 AM GMT+8
Chinese stocks saw another month of foreign capital exodus as overseas funds offloaded 44.8 billion yuan ($6.1 billion) worth of mainland shares in October. The month saw only three days of inflows even as authorities ramped up support, with the sovereign fund buying banking stocks and exchange-traded funds.
The three-month selling streak, a record, amounts to 172 billion yuan and threatens to turn this year’s flow into negative territory. If that happens, it would be the first time China saw an annual outflow since the second mainland-Hong Kong trading link opened in late 2016.
Stock market reflects the future growth of a country economy. For example, stock market will not break new high for long period when a country goes bankrupcy. Stock market will not break new low for long period when a country having strong GDP growth.
India stocks set to hit new highs in 2024 as economy hums - Reuters poll
BENGALURU, Nov 22 (Reuters) - India's stock market will hit new highs in the next six months and rise over 10% from here by end-2024, driven by a sustained expansion in the fastest-growing major economy, according to a Reuters poll of equity strategists.
Those same strategists also said in response to an extra question value stocks, which have trailed overall equity performance in recent years as investors chased technology and other shares, will outperform growth stocks.
Asian stocks mixed as China woes offset Fed cheer; Nifty hits record high AuthorAmbar WarrickStock Markets Published Dec 03, 2023 10:44PM ET
Indian stocks surge to record high on BJP victory India’s Nifty 50 index opened 1.4% higher, touching a record high of 20,589.35 points after ruling party BJP clinched key state election victories in three states, setting it up for reelection in the 2024 general election.
Investors have largely welcomed the industry-friendly measures introduced by the BJP over its past nearly 10 years in power, which saw India become the fastest-growing major economy.
Data last week showed India's gross domestic product grew substantially more than expected in the September quarter.
China blue-chip stocks hit 5-year lows, yuan eases after Moody's move
SHANGHAI (Reuters) -China's blue-chip stocks slumped to an almost five-year trough on Wednesday while the yuan currency extended losses, as markets grappled with Moody's (NYSE:MCO) cut to China's credit outlook at a time of growing worries about the economy's stuttering recovery.
The ratings agency issued a downgrade warning on China's sovereign credit rating on Tuesday, saying costs to bail out local governments and state firms and control its property crisis would weigh on the world's second-largest economy.
China stocks opened down with the CSI300 Index touching its lowest level since Feb. 2019, before recouping earlier losses. It was 0.4% higher as of 0612 GMT, with the Shanghai Composite Index up by 0.1%.
A $14 Billion Rout Makes HKEX World’s Worst-Performing Bourse -Hong Kong Exchanges & Clearing has plunged 25% this year -China’s slowdown, geopolitical tensions hit the stock market
Hong Kong is set to close the year as the world’s worst-performing stock market and the city’s exchange operator is emerging as the poster child of this slump.
Hong Kong Exchanges & Clearing Ltd. has plunged 25% this year, the most on a Bloomberg Intelligence gauge of 24 listed global security and commodity bourses. The stock rout has wiped out nearly $14 billion of its market value, putting it behind that of CME Group Inc. and London Stock Exchange Group Plc.
China disinflation worsens in Nov as CPI hits 3-year low; Stocks tumble
Investing.com-- China’s disinflationary trend worsened in November, data showed over the weekend, with consumer prices falling at their fastest pace in three years, while producer prices remained in contraction for a fourteenth consecutive month.
The readings spurred increased concerns over the Chinese economy, which saw China’s blue chip Shanghai Shenzhen CSI 300 index sink over 1% to a near five-year low. The Shanghai Composite and Hong Kong's Hang Seng index lost 1% and 2%, respectively, on weakness in mainland stocks.
The yuan shed 0.3% despite a stronger daily midpoint fix.
India set to overtake Hong Kong as seventh largest stock exchange – Daily Market Update – Equity 11 Dec 2023 India’s stock market is set to surpass Hong Kong to become the world’s seventh-largest, underscoring the optimism surrounding the economic potential of the world’s most populous nation. The total market capitalization of all listed companies in India stood at $3.7 trillion at the end of October, slightly trailing Hong Kong’s $3.9 trillion, according to data from the World Federation of Exchanges, a trade body.
Smart money always following market moving towards correct direction and not following CCP wrong direction.
Bets on Xi’s Common Prosperity Agenda Led to Big Losses in 2023 -China Meidong, Li Ning, Pylon all slumped at least 68% in 2023 -‘Common prosperity’ as a theme has had its pitfalls: Artemis
Investors who bought into the idea two years ago that China’s consumer and green energy stocks stand to win big from President Xi Jinping’s renewed economic agenda would have seen their holdings pummeled in 2023.
Car dealership China Meidong Auto Holdings Ltd., sportswear manufacturer Li Ning Co. and energy storage system maker Pylon Technologies Co. have all tumbled by at least 68% in 2023, making them some of the worst-performing stocks on the MSCI Asia Pacific
China trade surplus monthly is USD 70 billion. China don't depend on shoes and toys but on high value added items high speed trains, aeroplanes, drones, EV, robotics, 5G, roads, bridges, ships, nuclear plants, green energy, dams, . The last few years were transition phases. Beginning next year is new confidence..
America sanctions turn out to be paper tigers. Huawei already mate 60 with 7 nm chips and laptops with 5 nm chips
Silly Xi asked bankers and small investors to support CCP stocks end up making all bankers and small invstors lossing money due to hios silly strategy brought country to wrong direction.
Silly Xi visited Shanghai Stock Market instructed big funds and main stake holders not to sell shares but nobody care what he said. Shanghai composite index still dropped below 3000 points.
Stocks in Taiwan closed the year 26.8% higher, marking their strongest yearly performance since 2009 and making them the second best performer behind Japan.
Closely following Taipei were Indian stocks, which have gained 20% for the year. Equities in Seoul recorded an 18.7% jump for the year.
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