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...Beijing has now reimposed such restrictions on securities companies — large institutional investors in China that both act as brokers and have proprietary trading arms — according to traders and investment...
...“It’s damaging for appetite,” said an investment bank trading desk head in Hong Kong....
...It accused the company of “affecting the normal trading order or security of this exchange” through automated transactions. Shenzhen’s exchange issued a similar statement....
...Shares of Chinese property developer Vanke dropped 11 per cent as trading resumed in Hong Kong, after the state-linked company last week disclosed its profits halved in 2023....
...Hong Kong’s deepwater port at the heart of the Pearl River Delta has long made it a desirable trading gateway to the greater China region....
...In the short term, many have had to make immediate fixes to their trading strategies and trading algorithms....
...The Shenzhen-listed company had operating income of Rmb504bn ($70bn) in 2022 and delivered 340,000 new homes, according to its most recent annual report....
...Trading activity in China’s largest listed companies has surged to a five-month high, reflecting what analysts said was a likely increase in buying by Beijing’s “national team” of state-run financial institutions...
...“A lot [of the buying] is from offshore state funds,” said a trading desk head at one Chinese investment bank in Hong Kong....
...“I’ve got some decent buying, but at the same time I’m selling into it,” said the Hong Kong-based trading head at one investment bank....
...The company’s net income fell 46 per cent to Rmb12.2bn ($1.69bn) last year, the state-linked company said in an exchange filing late on Thursday....
...The company, better known as CATL, now anticipates net income between Rmb42.5bn and Rmb45.5bn ($6.3bn)....
...The benchmark CSI 300 index of Shanghai- and Shenzhen-listed stocks was down 0.2 per cent in morning trading, after the China Securities Regulatory Commission announced that investors who took strategic...
...“It will be a European-market Seagull, a new Seagull,” BYD senior executive Stella Li told reporters, including the UK’s Auto Express, in Shenzhen....
...Chinese equities in Shanghai and Shenzhen were little changed. The benchmark CSI 300 index was up just 0.4 per cent on Tuesday....
...In Asia morning trading on Friday, Luxshare shares rose 4 per cent in Shenzhen while Pegatron’s shares dropped 4 per cent in Taipei....
...People close to Two Sigma said the quantitative trading giant’s three China funds reported a more than 16 per cent return over the same period....
...The meeting in Beijing is part of an international push by China to rekindle investor sentiment, with the Shanghai and Shenzhen stock markets also leading a roadshow in the US this week....
...The CSI 300, which tracks the largest and most liquid stocks listed in Shanghai and Shenzhen, is up 4 per cent this month following the state intervention, after shedding more than 6 per cent in January....
...Shanghai’s and Shenzhen’s stock exchanges became the world’s biggest listing destinations by value in 2022 and 2023, figures from Dealogic show, as Chinese companies increasingly listed on the mainland instead...
...Small trading companies in particular find it necessary to expand their operations abroad due to the intense price war at home and a decrease in consumer spending power, resulting in a significant decline...
...China’s benchmark CSI 300 index of Shanghai- and Shenzhen-listed shares was up 0.5 per cent, while the Hang Seng China Enterprises index in Hong Kong rose almost 2 per cent....
...“There’s a bit of a game theory at play,” said Mohammed Apabhai, head of Asia trading strategy at Citigroup....
...But offshore investors trading Chinese equities through Hong Kong’s stock connect programme have continued to dump Shanghai- and Shenzhen-listed stocks, as evidenced by net sales of Rmb11.8bn last month....
...In 2009 several major banks lost heavily after South Korean courts extricated hundreds of companies from contracts that could prove ruinous if the won moved outside set ranges....
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