Hong Kong stocks end flat as U.S. sanction woes weigh
Wednesday, 15 July 2020 SHANGHAI — Hong Kong shares ended flat on Wednesday, after U.S. president Donald Trump’s decisions to revoke city’s special status and his sign-off on a sanction bill to target officials related to the new security law. ** At the close of trade, the Hang Seng index was up 3.69 points, or 0.01%, at 25,481.58,...
The Trump administration has relaxed some rules for H-1B visas holders. They have been allowed to enter the United States if returning to same jobs they had prior to the proclamation of the visa ban. Dependents (spouses and children) will also be allowed to travel along with primary visa holders, said the US Department of State advisory. The Trump administration also allowed travel by technical specialists, senior-level managers, other workers who hold H-1B visas as their travel is necessary to facilitate the economic recovery of the US. The administration also allowed travel of visa holders who are working as public health or healthcare professional, or researcher to alleviate the effects of the Covid-19 pandemic, or to conduct ongoing medical research in an area with a substantial public health benefit. Earlier on June 22, US President Donald Trump had signed a proclamation, banning the entry of workers in several key non-immigrant visa categories including H-1B. Trump had argued that they eat into American jobs during Covid pandemic. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.
Credit: HT Digital Content Duration: 01:48Published
Two beluga whales have been transferred to the world's first open-watersanctuary for the breed in Klettsvik Bay, Iceland. Little White and LittleGrey were previously performing whales in indoor captivity in Shanghai, China,but have been given a new life as part of a historic Sea Life Trustinitiative.
Credit: PA - Press Association STUDIO Duration: 03:12Published
TikTok-owner ByteDance may list its Chinese operations in Hong Kong or Shanghai, according to Reuters sources. That after tensions with Washington scuppered earlier hopes for a blockbuster New York listing. Julian Satterthwaite reports
Equity benchmark indices closed marginally lower on Friday in line with Asian peers following a record contraction in economic data from the United States. The BSE SandP Sensex was down by 129 points or 0.34 per cent at 37,607 while the Nifty 50 slipped by 29 points or 0.26 per cent at 11,073. Sectoral indices at the National Stock Exchange were mixed with Nifty pharma gaining by 3.5 per cent and PSU bank by 1.4 per cent. But Nifty financial service, private bank and auto were in the red. Among stocks, Reliance Industries lost by 1.84 per cent to Rs 2,070 per share on profit-booking, a day after it reported over 30 per cent jump in Q1 net profit at Rs 13,248 crore. Eicher Motors slipped by 2.7 per cent, Bajaj Auto by 1.6 per cent and Hero MotoCorp by 1.2 per cent. HDFC Bank, HDFC and HDFC Life lost by 1.6 per cent, 1.3 per cent and 1.2 per cent respectively. The other prominent losers were Kotak Mahindra Bank, Wipro and Asian Paints. However, Sun Pharma moved up 5.4 per cent to close at Rs 537.80 per share while Cipla witnessed a gain of Rs 5.1 per cent. JSW Steel, State Bank of India, Axis Bank, HCL Technologies and Tata Motors too traded in the green. Meanwhile, Asian shares slid as abysmal economic data from the United States and rising global COVID-19 cases weighed on sentiment. US GDP collapsed at a 32.9 per cent annualised rate in the second quarter, the deepest decline on record, while jobless claims rose last week. Japan's Nikkei dropped by 2.82 per cent, Hong Kong's Hang Seng by 0.47 per cent and Seoul's Kospi by 0.78 per cent.
Equity benchmark indices swung nearly 1 per cent lower during the afternoon session on July 30 ahead of the expiry day of monthly futures and options contracts. At the closing bell, the BSE S and P Sensex was down by 335 points or 0.88 per cent at 37,736 while the Nifty 50 lost 101 points or 0.9 per cent at 11,102. Most sectoral indices at the National Stock Exchange were in the red except for Nifty pharma which gained by 3.1 per cent and IT which crawled up by 0.6 per cent. Nifty bank slipped by 2 per cent, financial service by 1.8 per cent and metal by 1.2 per cent. Among stocks, energy majors were big losers with Bharat Petroleum Corporation down by 8 per cent to Rs 417.80 per share. IndianOil Corporation dipped by 4.1 per cent, ONGC by 2.4 per cent and Power Grid Corporation by 2.3 per cent. Banking scrips too witnessed losses with IndusInd Bank dipping by 5.4 per cent, Axis Bank by 3.4 per cent and State Bank of India by 2.4 per cent while home loan lender lost by 3.6 per cent. Pharma stocks, however, witnessed handsome gains with Dr Reddy's advancing by 4.6 per cent to close at Rs 4,500 per share. Sun Pharma and Cipla were up by 3.7 per cent and 0.8 per cent respectively. Wipro, Infosys, Vedanta, Maruti Suzuki, Britannia and Reliance Industries too traded with a positive bias. Meanwhile, Asian stocks were flat as the US Federal Reserve members voted to leave the target range for short-term rates between 0 and 0.25 per cent to support the country's virus-battered economy. Japan's Nikkei and Hong Kong's Hang Seng were down by 0.26 per cent and 0.69 per cent but South Korea's Kospi moved up by 0.17 per cent.
Equity benchmark indices continued their upward momentum on Friday but the gains in IT and realty sectors were capped by PSU banks. At the closing bell, the BSE SandP Sensex was up by 178 points or 0.5 per cent at 36,021 while the Nifty 50 edged higher by 56 points or 0.53 per cent at 10,607. Sectoral indices at the National Stock Exchange were mixed with Nifty IT and realty gaining by 1 per cent each but PSU bank down by 0.9 per cent. Among stocks, Eicher Motors was up by 4.18 per cent at Rs 19,121 per share while Hero MotoCorp accelerated by 2.6 per cent, Bajaj Auto by 1.9 per cent and Tata Motors by 1.8 per cent. Adani Ports closed 4.1 per cent higher at Rs 361 per share. Tata Consultancy Services gained by 1.7 per cent while Bharti Airtel and Bharti Infratel were up by 4 per cent and 1.8 per cent respectively. Reliance Industries edged higher by 1.53 per cent to Rs 1,785.50 per share after Intel Corp said it will invest Rs 1,894 crore in Jio Platforms in exchange for a 0.39 per cent stake, the latest big-ticket investment in its digital unit. But metal stocks fell with JSW Steel and Tata Steel down by 1.7 per cent each and Hindalco by 1 per cent. IndusInd Bank, HDFC Bank, Bajaj Finance and Bajaj Finserv too traded with a negative bias. Meanwhile, Asian shares rallied to a four-month high on robust US payrolls data and a brisk pickup in Chinese service sector activity. Shanghai Composite closed 2.01 per cent higher. Japan's Nikkei rose by 0.72 per cent while Hong Kong's Hang Seng was up by 0.99 per cent.
Equity benchmark indices swung upward for the fourth consecutive day on Tuesday with buying across several counters. The BSE SandP Sensex closed 519 points or 1.49 per cent higher at 35,430 while the Nifty 50 edged higher by 160 points or 1.55 per cent at 10,471. Larsen and Toubro jumped by 6.73 per cent to Rs 968.50 per share after the engineering and construction multinational called for reduction in India's dependence on imported products, including those from China, and called for a feasible Make in India ecosystem. Shares of IndusInd Bank rose 6.5 per cent to Rs 521.90 after the private sector lender said that its promoter had acquired additional shares of the bank through open market purchases. Bajaj Finance rose by 9.2 per cent while NTPC was up by 5.7 per cent, Hindalco by 5.4 per cent, UPL by 3.8 per cent, Power Grid Corporation by 3.7 per cent and Axis Bank by 3.3 per cent. However, Reliance Industries dropped by 1.4 per cent to Rs 1,721.70 per share on profit booking along with Bharti Airtel, Vedanta and Maruti Suzuki. Meanwhile, Asian shares see-sawed in a wild ride following confusing statements from the White House over the US-China trade deal with President Donald Trump later clarifying the pact was fully intact. Hong Kong's Hang Seng climbed by 1.62 per cent and Japan's Nikkei added 0.5 per cent while South Korea's Kospi inched up by 0.21 per cent