Asia markets extend rally as Hong Kong eyes record

Asian traders continued their blistering start to the year on Monday with most markets rising and Hong Kong within spitting distance of its record high, while the euro extended its gains against the dollar. Wall Street once again provided a strong lead on the back of optimism about corporate earnings in light of Donald Trump’s tax… Please follow and like us:

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Shanghai Stocks Falling Out of Favor As Central Bank Tightening Hard On Track

The Shanghai Composite Index had its worst day of the year Thursday, down 2.3%. After beginning a well-defined price uptrend that started in May 2017, Wednesday’s move could trigger sensitive momentum algorithms to exit long positions, particularly those formulas that focus on price channel patterns and downside deviation consistency models. But beyond the algorithmic factors, there… Please follow and like us:

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Tencent bumps Facebook from top 5

Soft toys promoting QQ, operated by Tencent Holdings Ltd, are displayed at an expo in Guangzhou, Guangdong province, Dec 6, 2016. [Photo/VCG] Dubbed the “anchor” of the benchmark Hang Seng Index, Tencent knocked Facebook off the pedestal to become the fifth-largest company around the world in terms of market value on Tuesday. This came after the… Please follow and like us:

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Alibaba’s ‘new retail’ plan gets teeth

E-commerce giant Alibaba Group Holding Ltd is penetrating deeper into the offline sector to build its “new retail” model. It spent an estimated but unspecified amount of over HK$630 million ($80.88 million) for an 18 percent stake in Hong Kong-listed Lianhua Supermarket Holdings Co Ltd on Friday. Post the deal, which was announced by Lianhua, Alibaba… Please follow and like us:

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