3 hours ago
European stock markets open higher
European markets started the new trading week on a positive note despite continued turmoil in the Middle East.
The pan-European Stoxx 600 index was up 0.3% at the open, with most sectors in positive territory. Mining led the pack with his 1.3% rise, while utilities bucked the trend and fell 0.1%.
6 hours ago
J&T Express aims to raise $500 million in Hong Kong IPO
Logistics company J&T Express is aiming for a $500 million listing in Hong Kong in 2023, making it the second-biggest listing.
According to the prospectus, the company will issue 326.5 million shares at a price of HK$12 ($1.53) each. J&T’s market capitalization at the time of listing will be $13.5 billion.
Reuters reported in February that the company was aiming to raise at least $1 billion through an IPO in Hong Kong in the second half of 2023.
The company said it has nine core investors, including Chinese tech giant Tencent and Singapore’s state-owned investment company Temasek. The underlying investors will contribute $199.5 million, or about 39.9% of the IPO.
— Lim Huijie
7 hours ago
China keeps medium-term and short-term lending rates unchanged
China has kept its key short-term and medium-term lending rates unchanged, with the seven-day reverse repo rate at 1.8% and the one-year reverse repo rate at 1.8%. Medium-term loan system The rate is 2.5%.
The People’s Bank of China also injected 106 billion yuan ($14.77 billion) in seven-day reverse repos at the same interest rate of 1.8%.
Following this move, the onshore yuan depreciated slightly, trading at 7.3093 yuan against the dollar, while the offshore yuan also depreciated to 7.3121 yuan.
8 hours ago
New Zealand dollar rises after election results
The New Zealand dollar rose on Monday after conservative former businessman Christopher Luxon was elected as the country’s new prime minister.
In Asian markets, the Kiwi dollar rose 0.49% to $0.5913. Luxon’s center-right National Party will form a new government with its preferred coalition party, ACT.
Investors will also wait for New Zealand inflation figures to be released on Tuesday for further clues as to whether further rate hikes are possible. Consumer prices are expected to rise 2.0% in the third quarter, up from 1.1% in the previous quarter.
— Shreyashi Sanyal
12 hours ago
Location of the main mean
We’re halfway through October, and here are the key averages:
Dow Jones Industrial Average:
- Up 0.8% last week
- Up 0.5% since the beginning of the month
- Up 1.6% this year
- Last week it fell 0.5%
- Increased by 0.9% in October
- 12.7% increase over the year
- Down 0.18% for the week
- Up 1.4% this month
- 28.1% increase in 2023
— Samantha Subin
12 hours ago