A market capitalization-weighted index of 40 of the largest companies that trade on the Hong Kong Exchange. The Hang Seng Index is maintained by a subsidiary of Hang Seng Bank, and has been published since 1969. The index aims to capture the leadership of the Hong Kong exchange, and covers approximately 65% of its total market capitalization.

  • Stock repurchases are expected to reach HK$92.9 billion ($11.9 billion) in 2023, or nearly four times higher than the prior five-year annual average, index compiler Hang Seng Indexes Co. said in a blog post on Tuesday.
  • The report urged the ICT companies to speed up their race to net zero, and Hong Kong to innovate financing solutions to accelerate the transition.
  • The Hang Seng Index is maintained by a subsidiary of Hang Seng Bank, and has been published since 1969.

The capital’s data is seen as a leading indicator of nationwide trends. There are tremendous opportunities to decarbonise the internet sector, which China considers crucial to drive economic growth, while delivering its 2060 net-zero commitment, analysts at the think tank China Water Risk said in a report focused on these five Hong Kong-listed firms. Billions of dollars of green finance can be tapped to help with this transition, they added. The core inflation rate, which strips out prices of fresh food, stood at 2.5%, lower than the 2.6% expected by economists in a Reuters poll and also lower than August’s 2.8%. Both the Nikkei 225 and Topix were down 0.05% and 0.94% respectively, mainly due to losses in energy stocks as oil prices retreat from their highest level in 13 months.

Private Companies

Crude inventories in Cushing, Oklahoma fell to 22 million barrels in the fourth week of September — hovering close to the operational minimum, according to data from the U.S. While economies and stock markets around the globe are likely to come under pressure in such a scenario, a raft of European stocks could actually gain from the rising U.S. dollar, according to the Bank of America. Tokyo’s inflation rate is seen as a leading indicator of nationwide inflation trends. Tech firm Alibaba Health was the top gainer on the index, surging 7.94%, while other top gainers also include sports equipment retailer Li Ning and property services manager China Resources Mixc Lifestyle, a subsidiary of property firm China Resources Land. The largest loser on the Nikkei was shipping firm Mitsui O.S.K. Lines, down 5.23%, while power companies Kansai Electric Power Company and Chubu Electric Power Company also were on the list of top losers, shedding 4.8% and 4.6% respectively.

  • The survey asks investors their outlook for stocks over the next six months.
  • The U.S. West Texas Intermediate futures touched $95.03 per barrel during Asia trading hours, marking the highest since August 2022.
  • Bullish sentiment is below its historical average for the sixth week in seven, and has dropped by 14.4 percentage points in just the past three weeks.
  • Data may be intentionally delayed pursuant to supplier requirements.

The Hang Seng members are also classified into one of four sub-indexes based on the main lines of business including commerce and industry, finance, utilities and properties. Data content includes nominal/last traded price, closing price, today’s high/low prices, trading volume, turnover value, Indicative Equilibrium Price (IEP) and Indicative Equilibrium Volume (IEV) during the pre-opening session of individual securities listed on the Stock Exchange. Hong Kong’s Hang Seng index led gains The Intelligent Investor in Asia and rose 2.45% as Asian markets largely rebounded from Thursday’s losses, powered by consumer cyclicals and real estate stocks. Tokyo’s consumer price index rose 2.8% in September from a year ago, softening from the 2.9% gain in August. The core inflation rate, which strips out prices of fresh food, came in at 2.5%, lower than the 2.6% expected by a Reuters poll. This comes as traders assess to key economic data out of Japan, including the September inflation rate for Tokyo.

Hong Kong bankers play an anxious waiting game

Japan’s benchmark indexes were in negative territory on Friday, the only major Asian market to do so. South Korean and mainland Chinese markets are closed for a holiday. MSCI’S global equities ended Friday’s choppy session slightly lower as investors prepared for a likely U.S. government shutdown and adjusted portfolios for the quarter’s end. Only 12 million Center of gravity indicator tonnes of the 87 million tonnes of emissions comprising all three scopes fall under the net zero pledge, but this could reach 21 million tonnes if Baidu and Alibaba included scope 3 emissions in their net zero commitments, according to CWR. Hong Kong-listed companies are rushing to buy back shares in a bid to boost valuations as a rout extends.

Data summary

Real gross domestic product increased 2.1% at an annualized pace in the second quarter, according to a third and final estimate the Commerce Department released Thursday. That was unchanged from the previous reading but below the Dow Jones estimate for 2.2%. The U.S. West Texas Intermediate futures touched $95.03 per barrel during Asia trading hours, marking the highest since August 2022. A combination of macroeconomic factors alongside tax-free advantages is expected to boost returns for investors.

Japanese stocks decline for second day as Hang Seng declines

Stock repurchases are expected to reach HK$92.9 billion ($11.9 billion) in 2023, or nearly four times higher than the prior five-year annual average, index compiler Hang Seng Indexes Co. said in a blog post on Tuesday. They’ve already reached HK$73.5 billion through Sept. 15, about 70% of last year’s total. Individual investor bearishness climbed to 40.9%, the highest since mid-May, from 34.6% last week, in the latest weekly survey by the American Association of Individual Investors. The survey asks investors their outlook for stocks over the next six months. Light crude traded at $91.68 on Friday, while Brent traded at $95, down from their 13-month highs of $93.68 and $96.55, respectively.

About Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world’s media organizations, industry events and directly to consumers. In China, data centre emissions grew by 41 per cent in just one year to 135 million tonnes in 2021, according to CWR. If left unchecked, carbon emissions from data centres in China are projected to balloon to 340 million tonnes by 2030, comparable to the energy-related carbon emissions of the United Kingdom today, the report said. More than two stocks at the New York Stock Exchange rose for every decliner Thursday, as Wall Street tried to recoup some of September’s steep losses. In other economic news Thursday, initial jobless claims totaled 204,000 for the week ended Sept. 23, according to the Labor Department.

Alibaba Group Holding, the Post’s owner, Baidu and Tencent Holdings have previously announced their commitments to achieving carbon neutrality in their own operations and supply chain by 2030, the year China plans to hit peak emissions. However, China Mobile, the country’s largest telecom service provider, has yet to announce its net-zero target. Global benchmark Brent were at $97.56 a barrel earlier in the session.

Overnight in the U.S., all three major indexes rallied ahead of the U.S. personal consumption expenditures price index reading due Friday. The PCE reading is the Federal Reserve’s preferred inflation metric. The report urged the ICT companies to speed up their race to net zero, and Hong Kong to innovate financing solutions to accelerate the transition. The ICT sector is often considered an “enabler” for efficient and effective climate actions, but it is also extremely energy and water intensive. Globally, the sector accounted for 2 to 4 per cent of emissions annually in 2020, but that could rise to 23 per cent by 2030, according to CWR.

Bullish sentiment is below its historical average for the sixth week in seven, and has dropped by 14.4 percentage points in just the past three weeks. Conversely, optimism retreated to 27.8%, a four-month low, from 31.3% last week. As interest rates peak, investment advisors now see opportunities for hefty gains through certain government bonds. Japan’s Nikkei 225 fell marginally, extending losses from Thursday to finish at 31,857.62, while the Topix dropped 0.94% and closed at 2,323.29.

Continuing claims rose to 1.67 million, up 12,000 and slightly below the FactSet estimate for 1.675 million. Asia-Pacific markets largely climbed in the final trading day of the week, with Hong Kong’s Hang Seng index leading gains in the region and rising 2.67% in its final hour of trade. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements. The five companies professional trading strategies account for nearly 25 per cent of the Hang Seng Index’s weighting, 36 per cent of its market cap and 28 per cent of the overall revenue of all listed Chinese ICT companies on the exchange, according to the report. Five Chinese information and communication technology (ICT) giants – Alibaba, Baidu, China Mobile, Tencent and Xiaomi – could eliminate 2.5 times Hong Kong’s annual greenhouse gas emissions if they achieve net zero emissions, according to a study.