Hong Kong shares rally; Hang Seng at 21-month high

Source: Dukascopy Bank SA
Hong Kong equities jumped on Wednesday on hopes the Fed continues its easing measures. However, the appetite for riskier assets deteriorated after Citigroup warned growth in 2013 may be slower than expected as government may refrain from policy easing amid heavy inflationary pressure. Despite less optimistic China's growth outlook, Hang Seng Index jumped 0.71% to close at the highest mark since May 2011. All sectors advanced, with basic materials and technology companies surging the most. Aluminum Corp of China (Chalco) added 0.27% despite announcing that it expects to post a loss for 2012. Property developers also joined the rally, with Sands China and China Resources Land climbing 2.23% and 2.11% on speculation that Chinese government may tolerate house prices increase of at most 10% in 2013. On the downside, Cathay Pacific Air plunged 3.69% after Nomura trimmed the target price to HKD18 but maintained ‘buy' rating. Nomura also added Cathay pacific Air is likely to announce positive full year results.
Back to articles

Actual Topics

Wed, 30 Jan 2013 16:11:12 GMT

German stocks slide after dismal US data

German equities are trading in the red territory after dismal US GDP data. US economy unexpectedly contracted by annualized 0.1% in Q4 of 2012, while analysis predicted GDP to grow by 1.1%. However, German stocks seem to have limited downside potential due to positive EU data and rising hopes the Fed will stick to its loose monetary policy. The DAX

Wed, 30 Jan 2013 16:44:04 GMT

US blue chips climbed ahead of GDP, FOMC statement

US blue chips were mostly bullish on Tuesday on speculation that the Fed will leave its easy policy unchanged despite recent positive economic data. Encouraging quarterly reports coupled with strong US housing market numbers also lifted the US stock average. However, dismal consumer sentiment data weighed on equities. US CB consumer confidence plunged to a 14-month low of 58.6 this

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.