Hong Kong Stocks Drop Most in Three Weeks as Cnooc Leads Losses

Hong Kong stocks dropped the most in three weeks as Cnooc Ltd. slumped after warning of a loss and some of the city’s best-performing stocks this month retreated.

The Hang Seng Index fell 1.3 percent, with all but 5 of its 50 constituents closing lower. Cnooc, China’s biggest offshore oil and gas producer, posted its biggest decline in a month after projecting about $ 1.2 billion in first-half losses. Cheung Kong Property Holdings Ltd. slid for the first time this week, paring its monthly advance to 15 percent. The MSCI Hong Kong Small Cap Index sank the most in a month as Tech Pro Technology Development Ltd. plunged for a second day after a short-seller report.

mumbai rxmeds hub The Hang Seng Index climbed 5.3 percent this month and entered a bull market as property developers rallied on optimism interest rates will stay low for longer and home prices in the city started to rebound.

The benchmark equity gauge fell to 21,891.37 at the close, while the Hang Seng China Enterprises Index lost 1.4 percent to 8,958.97.

Source : Bloomberg

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Sumber : bpfnews.com

U.S. Stocks Add to Monthly Gain as Alphabet Rallies on Earnings

U.S. stocks edged higher, with the S&P 500 Index capping a fifth monthly gain, after data showing the American economy grew slower than forecast last quarter gave the Federal Reserve no reason to accelerate its time table for higher interest rates. Earnings from Alphabet Inc. boosted technology shares.

The S&P 500 rose 0.2 percent to 2,173.55 at 4 p.m. in New York, closing within two points of its record. The gauge climbed 3.6 percent in July. The Dow Jones Industrial Average fell 0.1 percent to 18,432, a fifth straight loss for the longest slide since June 15. The 30-stock index rose 2.8 percent in July, a sixth consecutive advance. The Nasdaq 100 Index rose 0.2 percent Friday, leaving it 7 percent higher in the month.

The U.S. economy stumbled in the first half of 2016 as companies retrenched, leaving consumers to shoulder the burden of sustaining growth heading into the presidential election. That didn’t deter equity gains, with the S&P 500 overcoming the longest stretch without a record outside of a bear market since 1985 as central banks signaled additional stimulus and corporate earnings topped estimates.

Source : Bloomberg

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Sumber : bpfnews.com

Boss Amazon, Bezos, The Third Richest Man in The World

The increase in revenues Amazon and support for the company’s stock made its founder, Jeff Bezos, became the third richest person in the world, according to Forbes magazine.

Bezos has 18% of Amazon’s stock, which rose 2% in trading on Thursday (July 28). Forbes estimated his fortune at US $ 65.3 billion, or Rp857 trillion.

Amazon revenue exceeded analysts estimates, up 31% over last year to US $ 30.4 billion, or Rp399 trillion in the second quarter.

Advantages of this giant Internet business is US $ 875 million, or Rp11 trillion, compared to US $ 92 million or 1.2 triliiun in 2015.

According to Forbes estimates, Bezos wealth is only surpassed Microsoft founder Bill Gates, worth $ 78 billion or Rp1.024 trillion and founder of Zara, Amancio Ortega, worth US $ 73.1 billion, or Rp959 trillion.

Amazon is known announce little or no profit every quarter, but it seems to have a turning point last year and since then improvements in revenue.

Amazon shares soared 50% since February.

Amazon Prime membership, which provides extra services include free delivery for an annual membership, showed growth in the world.

In June, Amazon Prime launched in India to take advantage of the large consumer market in the country.

Source : BBC

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