• About Us
  • Disclaimer
  • Contact Us
  • Privacy Policy
  • Sitemap
Sunday, September 24, 2023
  • Login
  • Business
    • Reviews
    • Startup
  • Movies & Webseries
  • Entertainment
    • Biography
    • Celebrity News
  • Lifestyle
    • Fashion
    • Food
    • Travel
  • Law
  • Automotive
  • Cannabis
  • Tech
    • Gaming
    • Cryptocurrency
No Result
View All Result
Us timenow
Advertisement
  • Business
    • Reviews
    • Startup
  • Movies & Webseries
  • Entertainment
    • Biography
    • Celebrity News
  • Lifestyle
    • Fashion
    • Food
    • Travel
  • Law
  • Automotive
  • Cannabis
  • Tech
    • Gaming
    • Cryptocurrency
No Result
View All Result
Us timenow
No Result
View All Result
Home Business

Tech Audit, Reopening Bets Fuel Best China Stock Rally in Years

adriana wills by adriana wills
November 4, 2022
in Business
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


(Bloomberg) — Chinese stocks in Hong Kong headed for their best week since 2015 as a US audit of the nation’s companies showed signs of progress, adding to earlier optimism sparked by bets Beijing may ease its strict pandemic rules.

Most Read from Bloomberg

A gauge of equities listed in Hong Kong jumped as much as 8.8% in Friday’s session. The index is up about 12% for the week after unverified social media posts circulated earlier, claiming that a committee was being formed to assess scenarios on how to exit Covid Zero. That’s helped it erase losses suffered after last month’s Communist Party congress.

Tech stocks were the biggest gainers on Friday, with the Hang Seng Tech Index surging almost 11%. US audit officials completed their first on-site inspection round of Chinese companies ahead of schedule, according to people familiar with the matter, a sign of progress in the closely watched process to prevent the delisting of hundreds of stocks from Alibaba Group Holding Ltd. to Yum China Holdings Inc.

“With so many positive chatters in the market, the indexes are having a relief rally, said Willer Chen, an analyst at Forsyth Barr Asia Ltd. “A rumor of smooth talks between China-US over audits helped the sentiment as well” alongside growing talks about reopening, he added.

Rumor mills have infused strong optimism this week in embattled China markets, where traders have been seeking reasons to scoop up shares in one of the world’s worst-performing major markets. Stocks have rallied even as authorities have given no indication of a change in their stance on Covid Zero.

The CSI 300 Index, the benchmark for mainland stocks, also jumped more than 3% on Friday. The optimism spread to currency markets, with the offshore yuan rising more than 1%. Up more than 10% for the week, Hong Kong’s benchmark Hang Seng Index was set for the best gain since 2011.

Equities resumed gains on Friday after falling in the previous session as China’s top health body reiterated its commitment to the Covid Zero policy.

“There is still a tug of war going on between bulls and bears, bottom feeders and weary investors,” said Justin Tang, head of Asian research at United First Partners. “It will continue in the short term until we get a clearer idea whether there will be more pro-market policies under the new leadership.”

READ: Key Meetings to Offer Clues on China’s Economic Path Forward

–With assistance from Abhishek Vishnoi.

Most Read from Bloomberg Businessweek

©2022 Bloomberg L.P.



Source link

adriana wills

adriana wills

Stay Connected test

  • 23.8k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Emily Ratajkowski Seemingly Comes Out As Bisexual On TikTok: Video – Hollywood Life

Emily Ratajkowski Seemingly Comes Out As Bisexual On TikTok: Video – Hollywood Life

October 10, 2022
Vegamovies

Vegamovies 2023 Full HD Bollywood & Hollywood Movies Download: 480p Telugu 720p Hindi movies

August 30, 2023
Animal Movie Details

Animal Movie Download HD 1080p, 720p, 480p VegaMovies 2023

July 14, 2023
HDMoviesHub

HDMoviesHub- Download 300mb 480p, 720p, 1080p, HD Latest Hollywood, Bollywood, Tamil Movies

July 21, 2023
123Mkv

123Mkv 2023: Latest Bollywood, Hollywood, South, Hindi Dubbed Movie, Download Latest Movies

1
Emmys viewership hits a record low as fewer people tune in than even for the COVID-disrupted ceremony two years ago

Emmys viewership hits a record low as fewer people tune in than even for the COVID-disrupted ceremony two years ago

0
Everything To Know – Hollywood Life

Everything To Know – Hollywood Life

0
SWIFT is testing a blockchain project with crypto startup Symbiont to drive "efficiencies in communicating significant corporate events", like mergers (Katherine Doherty/Bloomberg)

SWIFT is testing a blockchain project with crypto startup Symbiont to drive "efficiencies in communicating significant corporate events", like mergers (Katherine Doherty/Bloomberg)

0
Afilmywap

Watch 2023 latest movies/series available on Afilmywap

September 10, 2023
Why is HDHub4u Movies so beloved?

Why is HDHub4u Movies so beloved?

September 10, 2023

What is Apptopia and how does it relate to Twitter?

September 10, 2023

Twitter Marchlyons: How the Hashtag is Being Used to Promote Positive Mental Health

September 10, 2023

Recent News

Afilmywap

Watch 2023 latest movies/series available on Afilmywap

September 10, 2023
Why is HDHub4u Movies so beloved?

Why is HDHub4u Movies so beloved?

September 10, 2023

What is Apptopia and how does it relate to Twitter?

September 10, 2023

Twitter Marchlyons: How the Hashtag is Being Used to Promote Positive Mental Health

September 10, 2023
ustimenow

If you use the internet, you are aware of this blog. Therefore, USTimenow offers information on global news in the areas of health, fashion, business, media entertainment, TV dramas, and celebrity rumours. This website's goal is to provide Internet-related knowledge for novices.

Browse by Category

  • Automotive
  • Biography
  • Business
  • Celebrity News
  • Cryptocurrency
  • Education
  • Entertainment
  • Fashion
  • Gadget & Electronics
  • Health
  • Mobile & Laptops
  • Movies & Webseries
  • News & Politics
  • Quotes
  • Software & Apps
  • Sports
  • Startup
  • Tech
  • Uncategorised

Recent News

Afilmywap

Watch 2023 latest movies/series available on Afilmywap

September 10, 2023
Why is HDHub4u Movies so beloved?

Why is HDHub4u Movies so beloved?

September 10, 2023
No Result
View All Result

© 2023 Ustimenow - Premium WordPress news & magazine theme by Ustimenow.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In