### Summary
Asian stocks were mixed as traders awaited the Federal Reserve's summer conference to determine if more interest rate hikes are necessary to deal with inflation.
### Facts
- 📉 Shanghai and Hong Kong stocks retreated, while Tokyo and Seoul stocks advanced.
- 📉 The Hang Seng in Hong Kong lost 1.1%.
- 📈 The Nikkei 225 in Tokyo advanced 0.6%.
- 📈 The Kospi in Seoul gained 0.6%.
- 📊 The S&P 500 index ended the week lower by 0.1%.
- 💵 Some investors are shifting money to bonds as higher interest rates make their payout bigger and less risky.
- 💹 Tech and other high-growth stocks are some of the biggest losers due to higher rates.
- 📉 Ross Stores jumped 5% after reporting stronger-than-expected results, while Estee Lauder fell 3.3% despite reporting stronger profit and revenue than expected.
- ⛽ Benchmark U.S. crude gained 73 cents to $81.39 per barrel, while Brent crude reached $85.55 per barrel.
- 💲 The dollar slightly edged up to 145.35 yen, while the euro rose to $1.0882.
(Source: AP News)
Hong Kong stocks have entered a bear market, dropping 21 percent from their peak, as investor concerns about China's real estate sector and economic growth continue to escalate.
Asian stock markets rebounded from an eight-day losing streak, supported by a recovery in Chinese shares, while benchmark Treasury yields reached a 16-year high on concerns of sustained high interest rates.
Hong Kong stocks rebounded as traders considered the recent market slump to be excessive, with Chinese tech leaders such as Alibaba, AIA, and NetEase leading the way.
China's economic slowdown, marked by falling consumer prices, a deepening real estate crisis, and a slump in exports, has alarmed international leaders and investors, causing Hong Kong's Hang Seng Index to fall into a bear market and prompting major investment banks to downgrade their growth forecasts for China below 5%.
Hong Kong's exports continue to decline for the 15th consecutive month, with a 9% decrease in July, due to trade contraction with mainland China, the US, and Europe, affecting the city's economic recovery and prompting a downgrade in GDP forecast.
China's stock market indexes experienced a brief bounce of over 5% before giving up most of the gains, following new government measures to reduce trading costs and boost stocks, raising questions about the severity of China's economic problems and whether they can be resolved through stimulus measures.
Chinese stocks rebounded briefly after Beijing implemented measures to halt the slide, but foreign investors used the opportunity to unload $1.1 billion of mainland Chinese equities, reflecting ongoing nervousness about holding capital in China.
Hong Kong stocks rise on speculations of fresh capital market measures and expectations of banks cutting mortgage rates, while Chinese developers and Xiaomi contribute to the market gains.
Asian stock markets rise on the belief that the Federal Reserve has finished raising U.S. interest rates and hopes that policy stimulus from Beijing will stabilize the Chinese economy, while trading remains thin due to a U.S. holiday.
China's stock market rebound may be temporary as corporate earnings continue to decline and companies revise down their outlooks, causing concern for foreign funds and prompting Bank of America to urge caution.
Hong Kong stocks, including SMIC, Tencent, and JD.com, dropped as weak China trade data and a depreciating yuan put pressure on the market.
Hong Kong stocks plummet as the Federal Reserve's more hawkish stance and the yuan's continued weakness take a toll on the market.
Most Asian stocks retreated as markets absorbed the outlook for higher interest rates and concerns over a property market crisis in China, while Japanese shares rose on the back of the Bank of Japan's dovish stance.
Hong Kong stocks tumble as China Evergrande cancels creditor meetings, raising concerns about the property sector and China's economic stability.
Stocks in Hong Kong, Australia, and Japan have fallen, while South Korean and Chinese markets are closed for holidays; evergrande shares soar after trading resumes in Hong Kong; the Reserve Bank of Australia is expected to maintain a hawkish stance at its upcoming meeting; Goldman Sachs predicts that shares of a global delivery platform will double in the next 12 months; a portfolio manager recommends buying discounted global stocks; a wealth manager's stock is seen as undervalued amid irrational behavior; the World Bank forecasts sustained growth in the Asia Pacific region; Bitcoin rises to its highest level since August; gold and silver prices drop to their lowest levels since March.
Hong Kong stocks plummeted after a Chinese holiday due to concerns about China's weak housing market, high US interest rates, and the potential collapse of Evergrande Group, which could further destabilize global markets and put pressure on Beijing.
Chinese stocks listed in Hong Kong slumped as trading resumed after a holiday, reflecting pessimism and concerns about the nation's economic outlook, despite positive data from China's holiday weekend showing a doubling in tourism revenue from a year earlier.
Asian markets are expected to rebound following a relief bounce around the world on Wednesday, with currency traders keeping an eye on inflation reports from across the continent.
Hong Kong stocks rebounded as buyers took advantage of the market sell-off, while Macau casinos saw gains due to strong visitor arrivals during the "golden week" holiday, and US equities also contributed to the positive sentiment.
Hong Kong's Hang Seng index jumps over 2% as investors await US jobs data; Reserve Bank of India keeps interest rates unchanged at 6.5%; Natural gas prices jump 7.3%; Gold touches lowest level since March; OPEC may intervene if oil prices continue to slide.
Hong Kong will not allow retail investors to trade stablecoins until they are officially regulated, which is projected to happen by the end of 2024.
Asian shares mostly fell amid concerns about the U.S. banking system and Chinese economic growth, with Japan's Nikkei 225 down 0.2% and Hong Kong's Hang Seng down 0.4%, while China's export data showed the sharpest decline in three years. Bank stocks in the U.S. also fell after Moody's cut credit ratings for 10 smaller and midsized banks, citing concerns about their financial strength in light of higher interest rates and the work-from-home trend. The Federal Reserve's efforts to combat inflation by raising interest rates have led to a slowdown in the economy and hit banks hard.
Goldman Sachs predicts that the Chinese stock market will rebound towards the end of the year due to increased state buying of shares, which aims to breathe life back into the market.
China's economy shows signs of recovery despite slipping stocks of big Chinese firms traded in the US.
Asian stocks recover as tech shares bounce back, however, most indexes are still on track for weekly losses due to uncertainty over the Israel-Hamas war, rising yields, and weak cues from Wall Street.
