Alibaba, JD, Nio Mixed: Hang Seng muted as investors wait for clues, bleak World Bank forecast for China weighs
Hong Kong shares opened mixed on Tuesday, with the benchmark Hang Seng index down 0.05% and investors looking for clues as global markets continued to rise. bleed following the aggressive US Federal Reserve rate. hiking and screenings.
China's economic output is expected to lag the rest of Asia for the first time since 1990, according to new World Bank forecasts, reported FT. The World Bank has revised its growth forecast for China's gross domestic product to 2.8% from 8.1% last year, down from its April forecast of between 4% and 5%, according to the report. report.
Also read: Cathie Wood is spending $22 million to increase stake in this chipmaker stock, which worries Jim Cramer
Macro News: US, Britain and others call for debate at UN Human Rights Council to address China's treatment to Uyghurs and other Muslims in the Xinjiang region, Reuters reported.
The Chinese Communist Party has reaffirmed President Xi Jinping as its central core, with the ruling party selecting 2,296 delegates from across the country to attend the 20th Party Congress, Bloomberg reported.
Company News: Electric vehicle maker Li Auto said it now expects to deliver 25,500 vehicles in the third quarter, down from a previous forecast of 27 000 and 29,000 units, CNBC reported.
Nio, through its wholly owned subsidiary Blue Northstar Ltd, has entered into a strategic financing agreement with Australian lithium company Greenwing, CnEVPost reported.
Major Gainers and Losers: ENN Energy Holdings Ltd and Techtronic Industries Company Ltd were the biggest losers among Hang Seng's main constituents, losing over 2.7% and 1.7%, respectively. Hang Lung Properties Ltd and CITIC Ltd were the main gainers, up 0.92% and 0.82%, respectively.
Global News: US futures traded in the green in Tuesday morning's Asian session. Dow Jones futures rose 0.63% while Nasdaq futures gained 0.74%. S&P 500 futures rose 0.68%. Elsewhere in Asia, Australia's ASX 200 rose 0.25%. Japan's Nikkei 225 rose 0.69% while China's Shanghai Composite Index gained 0.42%. South Korea's Kospi lost 0.53%.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Hong Kong shares opened mixed on Tuesday, with the benchmark Hang Seng index down 0.05% and investors looking for clues as global markets continued to rise. bleed following the aggressive US Federal Reserve rate. hiking and screenings.
China's economic output is expected to lag the rest of Asia for the first time since 1990, according to new World Bank forecasts, reported FT. The World Bank has revised its growth forecast for China's gross domestic product to 2.8% from 8.1% last year, down from its April forecast of between 4% and 5%, according to the report. report.
Also read: Cathie Wood is spending $22 million to increase stake in this chipmaker stock, which worries Jim Cramer
Macro News: US, Britain and others call for debate at UN Human Rights Council to address China's treatment to Uyghurs and other Muslims in the Xinjiang region, Reuters reported.
The Chinese Communist Party has reaffirmed President Xi Jinping as its central core, with the ruling party selecting 2,296 delegates from across the country to attend the 20th Party Congress, Bloomberg reported.
Company News: Electric vehicle maker Li Auto said it now expects to deliver 25,500 vehicles in the third quarter, down from a previous forecast of 27 000 and 29,000 units, CNBC reported.
Nio, through its wholly owned subsidiary Blue Northstar Ltd, has entered into a strategic financing agreement with Australian lithium company Greenwing, CnEVPost reported.
Major Gainers and Losers: ENN Energy Holdings Ltd and Techtronic Industries Company Ltd were the biggest losers among Hang Seng's main constituents, losing over 2.7% and 1.7%, respectively. Hang Lung Properties Ltd and CITIC Ltd were the main gainers, up 0.92% and 0.82%, respectively.
Global News: US futures traded in the green in Tuesday morning's Asian session. Dow Jones futures rose 0.63% while Nasdaq futures gained 0.74%. S&P 500 futures rose 0.68%. Elsewhere in Asia, Australia's ASX 200 rose 0.25%. Japan's Nikkei 225 rose 0.69% while China's Shanghai Composite Index gained 0.42%. South Korea's Kospi lost 0.53%.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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