Hong Kong Shares Close Down, China Growth Target Awaited

Hong Kong shares finished down on Thursday as Chinese investors await the announcement of the economic growth target for the next five years, expected by the end of the day.

The Hang Seng index fell 0.6 percent, to 22,819.94, while the China Enterprises Index lost 1.1 percent, to 10,439.38 points.

Among the most actively traded stocks on Hong Kong’s main board were Gome, up 12.1 percent to HK$ 1.48 Hong Kong Education International Investments, up 12.4 percent to HK$ 0.22 and CCT Land, unchanged at HK$ 0.02.

Total trading volume of companies included in the HSI index was 1.8 billion shares.

Source : Reuters

Sumber : bpfnews.com

China slams US Combat Ship Delivery to the South China Sea

The Chinese government on Wednesday (28/10) harshly criticized the US for sending warships to the area of ​​small islands and reefs in the South China Sea.

China condemned the US for sending warships to the area of ​​small islands and reefs in the South China Sea are being disputed and claimed by China, although America promised to keep doing more patrol missions there.

China’s Foreign Ministry on Wednesday (28/10) said it had summoned the US ambassador in China Max Baucus to deliver a formal protest over the incident on Tuesday (27/10), which shows the boldest challenge America against China’s territorial claims are controversial.

Military officials in Washington said the cruise approaching Subi Reef region belonging to China was an exercise of “freedom of navigation” unrelated to the question of the sovereignty of the territory, which is also claimed by Vietnam and the Philippines.

A source in the Defense Department who did not wish to be named, told VOA Tuesday, it seems the US Navy will hold more patrols in the region.

Source: Voanews

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U.S. Index Futures Drop as Investors Await Growth Data After Fed

U.S. stock-index futures declined as investors, braced for a possible rate increase this year, awaited growth figures and earnings reports to gauge the health of the world’s biggest economy.

Standard & Poor’s 500 Index E-mini contracts expiring in December lost 0.4 percent to 2075.75 at 9:22 a.m. in London. The gauge briefly erased gains yesterday after the Federal Reserve’s policy statement signaled officials are still considering an interest-rate increase this year, before closing higher. Dow Jones Industrial Average contracts dropped 83 points, or 0.5 percent, to 17,619 today.

A release today will show the U.S. economy expanded 1.6 percent in the third quarter, a slower pace than the previous three months, according to forecasts compiled by Bloomberg. Another report may show jobless claims increased last week from the earlier period. Fed officials yesterday forecast moderate growth, and dropped a reference to global risks.

Traders are now pricing in a 48 percent chance of liftoff in December, compared with 34 percent last week, while January is the first month with at least even odds. It was March before the Fed meeting.

Source : Bloomberg

Sumber : bpfnews.com

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