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04/07/2025
Moody's rating agency confirms Niger's Caa3 rating, with a stable outlook maintained.
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2 m ago
Traveling with Hui, the new account gained over 140,000 followers in one night.
3 m ago
Citibank: Hong Kong's retail sales rebound in May, short-term good for retail property rental stocks.
3 m ago
The Citibank research report stated that the total retail sales value in Hong Kong in May increased by 2.4% year-on-year, ending a 14-month continuous decline, which is higher than expected. The decline in retail sales for the first five months of the year narrowed to 4%. Citibank believes that the local retail recovery is mainly driven by five factors, including a 22% year-on-year increase in passenger volume during the May Day Golden Week, which also rose by 20% in May; stable Mainland consumer visits of around 570,000 to 580,000 per weekend since the third quarter of last year, reflecting the negative impact; a 3% depreciation of the Hong Kong dollar against the Renminbi and a 9% depreciation against the Yen in the first half of the year, which benefits local consumption; the wealth effect brought by the prosperous capital market and the decline in HIBOR; and the low base effect. The bank expects that retail sales will rebound in the short term and benefit retail rental stocks such as Link REIT, Kerry Properties, and Hysan Development. They also believe that retail data for June can sustainably recover.
4 m ago
Hong Kong stocks closed lower at midday, with the Hang Seng Index falling by 0.62% and the Hang Seng Technology Index dropping by 0.47%. Mainland Chinese brokerage stocks were active during the session, with Guotai Junan International rising by over 20% and Hongye Futures surging by over 7%. Mainland Chinese bank stocks also saw gains, with Guangzhou Rural Commercial Bank rising by over 8% and Minsheng Bank and Bank of Guizhou increasing by over 3%. Hong Kong stocks related to holiday concepts rose in the morning, with Wanda Hotel Development rising by over 10% and Hong Kong China Travel Service going up by over 4%.
4 m ago
Hong Kong midday market review: Hang Seng Index down by 0.62%, Hang Seng Tech Index down by 0.47%
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