Australia

Hong Kong shares jump 3% as China relaxes some virus rules

Hong Kong shares jump 3% as China relaxes some virus rules

Morgan Stanley overweight Chinese stocks Morgan Stanley strategists raised its recommendation for Chinese stocks to overweight, according to a Sunday note. The upgrade marks the end of the company’s equal weight position in Chinese stocks that it has held for nearly two years, strategists led by Laura Wang said. Morgan Stanley noted that several factors …

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Japanese stocks drag losses in Asia as investors seek clarification on China's Covid rule changes

Japanese stocks drag losses in Asia as investors seek clarification on China’s Covid rule changes

Singapore and New York are ranked among the most expensive cities to live: EIU Singapore and New York have been ranked as the most expensive cities to live in this year, according to the Economist Intelligence Unit (EIU). EIU’s survey showed that the average price of goods in 172 major cities around the world rose …

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Hong Kong stocks lead losses in Asia on unrest in China, oil at 2022 low

Hong Kong stocks lead losses in Asia on unrest in China, oil at 2022 low

Indian stocks hit all-time highs Indian stocks hit new highs in Monday’s session. The Nifty 50 Index, the flagship index of the National Stock Exchange of India, reached 18,611.05, surpassing the previous intraday high of 18,604.45 seen on October 19, 2021. The Sensex reached 62,690.39 during the morning session in India, also surpassing previous record …

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New Zealand Achieves Biggest Rate Hike Ever;  Asia-Pacific stocks mixed ahead of Fed minutes

New Zealand Achieves Biggest Rate Hike Ever; Asia-Pacific stocks mixed ahead of Fed minutes

Malaysia’s shares have changed little as the country’s wait for a new prime minister continues Shares listed in Malaysia were little changed as the country’s political stalemate continues and local media reported that Malaysia’s King, the Yang di-Pertuan Agong, would make a decision, without giving a timeline. The benchmark KLCI fell 0.09% after two negative …

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Hong Kong stocks lead losses as China's Covid cases surge;  Mixed Asian markets

Hong Kong stocks lead losses as China’s Covid cases surge; Mixed Asian markets

JD.com shares fall after company slashes top executive pay Hong Kong listed shares of JD.com traded down more than 5% in the afternoon after the company confirmed pay cuts for its management team. The Chinese e-commerce giant has confirmed that it will cut the cash salaries of its management team by up to 20%, starting …

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Staff reveal nightmare working for collapsed construction company owing at least $660,000

Staff reveal nightmare working for collapsed construction company owing at least $660,000

A former employee of a collapsed construction company claims she hasn’t received a pension in months, while a teenage administrative trainee has been left to manage construction projects amid massive turnover of personnel has emptied the company. Earlier this month, news.com.au reported that residential builder Tozer Construction Group had been ordered by the court to …

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Australia learns there is no replacement for Chinese consumer

Australia learns there is no replacement for Chinese consumer

(Bloomberg) – Australia has spent big to lure crowds of Indian tourists to its shores, signed a post-Brexit free trade deal with Britain and discovered new markets in the Middle East over the past its 30-month trade break with China. Bloomberg’s Most Read Yet, outside of iron ore and other key commodities, exporters have faced …

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Hong Kong shares drop more than 2% as Tencent cuts Meituan stake;  Japan has a trade deficit of $15 billion

Hong Kong shares drop more than 2% as Tencent cuts Meituan stake; Japan has a trade deficit of $15 billion

NetEase plunges after Blizzard announces suspension of gaming services in China Hong Kong listed shares of NetEase plunged 13% after Blizzard Entertainment, a subunit of ActivisionBlizzardsaid it would suspend gaming services in China, citing the expiration of licensing agreements with NetEase. “We are extremely grateful for the passion our Chinese community has shown throughout the …

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Hong Kong stocks rise in mixed Asia-Pacific session, Softbank shares fall 14%

Hong Kong stocks rise in mixed Asia-Pacific session, Softbank shares fall 14%

Foreign tourist arrivals will not return to pre-Covid levels until 2025, Indonesian minister says Foreign tourist arrivals in Indonesia will not return to pre-Covid levels until 2025, according to the country’s tourism ministry. Sandiaga Uno, the country’s tourism and creative economy minister, said foreign tourist arrivals are currently at 25% of pre-pandemic levels. The government …

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