Most stock quote data provided by BATS. Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC). The US economy grew at a record 33% annual rate in the third quarter.
The Hang Seng Index bounced around the room to close down -0.32%/-78 index points to close at 24,708. Shanghai & Shenzhen opened lower but climbed higher the remainder of the day up +0.46% and +0.68% at 3,269 and 2,239 respectively. We strive to provide innovative, first to market strategies that have been developed based on our strong partnerships and our deep knowledge of investing. Thu, Oct 1st 2020.
Financials’ high sector weight within certain indices is going to weigh heavily on those ETFs. Our suite of China focused ETFs provide investors with solutions to capture China's importance as an essential element of a well-designed investment portfolio. Education firm New Orient (ticker EDU) will relist on November 9th in Hong Kong. Hong Kong Exchanges & Clearing Ltd. posted a 1% gain in profit, benefiting from a spate of high-profile Chinese stock listings and a pick up in trading as the pandemic and political tensions stoked volatility. Volume gained +16% to just below the 1-year average while breadth was mixed with 1,697 advancers and 1,977 decliners.
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Asian equities were largely weak on rising coronavirus cases globally, though Mainland China and South Korea outperformed. I am the Chief Investment Officer of KraneShares, a China-focused provider of exchange-traded funds (ETFs). One broker noted that earnings season for Mainland stocks will kick in over the next week. Factset: FactSet Research Systems Inc.2019. The Shanghai Composite gained 0.11%, while the Hang Seng led the Nikkei 225 lower. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. China's market reforms have benefited small and medium-sized companies: JPMorgan.
Today’s market action will highlight the disparity of investor’s definition of China. The Shanghai Composite gained 0.10%, while the Hang Seng led the Nikkei 225 lower. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Bloomberg. which houses the Hong Kong Stock Exchange, in Hong Kong, China, on Wednesday, Aug. 19, 2020.
Hong Kong volume leaders were Tencent, which gained +2.74% on chatter of the company investing in British music company Instrumental, Alibaba The removal is driven by the renminbi’s strong appreciation versus the dollar of late. Foreign investors were net buyers of Mainland stocks, breaking the outflow streak of eight days. The 204 Chinese companies listed in Hong Kong within the MSCI China All Shares Index rose +0.65%, led by discretionary +3.43%, communication +2.09%, and tech +0.7%, while energy fell -2.09%, financials -1.68%, utilities -1.47%, materials -1.11%, and industrials -1%. Disclaimer. There is chatter that the pace of Mainland IPOs might slow, which would alleviate the pressure on existing shares due to new supply. Asian markets finished mixed as of the most recent closing prices. The catalyst was Ping An Insurance’s light Q3 earnings as new business fell -27% YTD year-over-year. US-listed online auto sales company Autohome (ATHM US) announced an investment in a used car platform called TTP.
Despite financials’ weakness, Mainland China had a positive day with growth stocks outperforming along with Kweichow Moutai, which rose +2.45%. Asian markets finished mixed as of the most recent closing prices.
Southbound Stock Connect volumes were moderate with Mainland investors buying $1.222 billion of Hong Kong stocks as Southbound trading accounted for 12.5% of Hong Kong turnover. The challenge with live streaming is the “live” aspect as anti-pornography rules are difficult to enforce apparently. Hong Kong Exchanges & Clearing Ltd. posted a 1% gain in profit, benefiting from a spate of high-profile Chinese stock listings and a pick up in trading as the pandemic and political tensions stoked volatility. US-listed Chinese live-streaming companies are apt to be weak this morning on new rules governing the sector from regulators. As a pioneer within the ETF industry I experienced the surge. Once again, the Hang Seng Index, which is only 50 stocks, was down due to its high financial sector weight (44%) despite the fact that Tencent and Alibaba were up. Hong Kong, which gained +2.47%, Meituan Dianping, which rose +5.26%, Ping An, which fell -3.19%, Hong Kong Exchanges, which was up +3.51%, Xiaomi, which gained +1.42%, and BYD, which rose +5.45%. China All Shares, Chinese companies listed in Hong Kong were up today. It is worth noting that Tencent has had large inflows via the Southbound Stock Connect platform the last several days. All rights reserved. Sen. Cruz to Twitter CEO: Who the hell elected you. As a pioneer within the ETF industry I experienced the surge in popularity of ETFs firsthand, helping an industry-leading global ETF provider grow AUM from a few million to over $1.5 trillion. All Rights Reserved, This is a BETA experience. But the crisis isn't over, Jobless claims fall to 751,000 in last report before election, LVMH snags discount on Tiffany acquisition after legal spat, Samsung reports bumper profits but warns of slump ahead, Ford returns to profitability as it blows past estimates, Wall Street is spooked, but should have seen the coronavirus surge coming, A deep recession should hurt Trump's reelection, but this isn't a usual downturn, United Airlines to offer free covid testing for passengers on select routes, Analysis: Two words describe the Senate's latest Big Tech hearing: Worthless and petty, Opinion: Forget bias, the real danger is Big Tech's overwhelming control over speech. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. I don’t think this is a big deal. The catalyst was Ping An Insurance’s light Q3 earnings as new business fell -27% YTD year-over-year. This reminded me of this past weekend’s WSJ article on the value-oriented investment firm AJO closing due to poor performance as slow low growth sectors are out of favor, which has been exacerbated by coronavirus quarantines. The Mainland companies within the MSCI China All Shares Index rose +0.78%, led by discretionary +3.25%, staples +2.16%, materials +1.25%, and communication +1.14%, while real estate was off -1.19%, and financials -0.57%.
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