I’ve missed you. China’s stock markets re-opened after a week long recess.
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Hong Kong’s benchmark Hang Seng Index rose 1.7 percent and looked set for a weekly gain of 5.7 percent, which would be its biggest in six months.
What can be seen from the charts was that there was a much more significant correlation between the Hong Kong exports and SGE withdrawals up to Q1 2014, but after that, the Hong Kong percentage has been mostly declining and was down to only 23% for the latest month for which figures are available (August).
Nevertheless, the large amount targeted from the Hong Kong IPO will still allow China Re to replenish its coffers and boost its solvency margin ratio beyond the June level of 253%.
Mainland Chinese visitors wait outside a luxury store at a shopping district in Hong Kong March 19, 2015. Still, the gains come against the backdrop of steep losses earlier this year that sent the industrial metal to five-year lows amid concerns about inventory pileups.
IMAX China Holding, Inc., a subsidiary of IMAX Corporation and a Cayman Islands company, began trading on the Hong Kong Stock Exchange on Thursday. Macquarie’s bid beat offers from USA private equity giant Carlyle and China’s HNA Group. IMAX China, the local unit of USA movie technology developer IMAX Corp, rose 10.4% from its IPO price to close at HK$34.25, while intimate wear manufacturer Regina Miracle closed up 16% at HK$6.50.
Global stocks traded just off three-week highs on Thursday after unexpectedly weak trade and machinery orders data from Germany and Japan hinted at a stalling in the momentum of a few of the world’s biggest economies.
Stock index futures also surged.
The CSI300 Health Care Index was also up sharply, rising almost 5 percent, after the government said that it would invest 9.8 billion yuan ($1.54 billion) to subsidise public hospital reform next year. Foremost was the Federal Reserve’s release of its recent monetary-policy meeting minutes, which indicated that the US central bank would probably keep rates low for the foreseeable future.
New listings in the Asia Pacific region have been met with a colder-than-expected reaction from the investor community in the wake of increased volatility in global markets.
Shares in Australia and South Korea were up little more than 0.2% each.
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CURRENCIES: The euro rose 0.4 percent to $1.1284 while the dollar fell 0.1 percent to 119.84 yen.
