Monday, March 30, 2015   

Hang Seng, Shanghai rise
(04-01 17:17)

Hong Kong shares jumped 1.34 percent on Tuesday as traders welcomed data showing Chinese manufacturing picked up in March from an eight-month low.
The benchmark Hang Seng Index added 297.48 points to 22,448.54 on turnover of HK$69.24 billion, AFP reports.
China said its official purchasing managers index (PMI) of manufacturing activity came in at 50.3 for March, up slightly from February's eight-month low of 50.2. A figure above 50 points to growth while anything below indicates contraction.
Economists had forecast the figure to remain unchanged.
While the uptick was small, the data is a rare piece of good news out of Beijing, which has released a string of weak indicators in recent months including on trade, investment and industrial production.
Those have fueled speculation that policymakers will announce measures to kickstart the world's number two economy and key driver of global growth, although most analysts have ruled out a huge stimulus package.
However, banking giant HSBC said its own PMI for the country had fallen to 48.0 last month from 48.5 in February, and worse than its initial estimate of 48.1.
In China the benchmark Shanghai Composite Index rose 0.70 percent, or 14.15 points, to 2,047.46 on turnover of 64.5 billion yuan.
The Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 1.65 percent, or 17.13 points, to 1,057.01 on turnover of 73.5 billion yuan.   
Other Business breaking news:
Central bank cuts downpayment rate in China to 40pc (1 hr 38 mins ago)
Ex-Fed chair Bernanke becomes Brookings blogger (2 hrs 21 mins ago)
Yuan loses ground in global transactions (03-30 17:33)
Billionaire Soros seeks rich pickings in Ukraine (03-30 17:11)
Wing On profits shrink, Tai Koo store to close (03-30 16:40)
Hang Seng bounces 1.5pc (03-30 16:10)
Nikkei up at close (03-30 16:02)
Positive start for Europe equities (03-30 16:01)
Shanghai, Shenzhen bull run continues (03-30 15:45)
Hang Seng, Shanghai rally (03-30 14:04)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.