Hong Kong shares opened in the green on Tuesday, with the benchmark Hang Seng index up 0.08% as investors kept their eyes peeled Reserve Bank of Australia‘s policy decision and digested China’s plan to accelerate the introduction of stimulus in the third quarter.
| share | movement |
|---|---|
| Alibaba group holding company GmbH. BABA | 0.28% |
| JD.com inc JD | 0.76% |
| Baidu Inc BIDU | 0.73% |
| Tencent Holdings GmbH. TCEHY | -1.32% |
| meituan MPNGF | 1.15% |
| Nio Inc NEVER | 3.84% |
| XPeng Inc XPEV | 0.7% |
| Li car inc LI | -0.28% |
macro news: China cut its foreign exchange reserve ratio (the amount of foreign exchange deposits banks are required to set aside as reserves) to 6% from a previous 8% to bolster the yuan, which hit a two-year low. This is the second time the reserve ratio has been lowered, reports Bloomberg.
China said it will accelerate its stimulus rollout in the third quarter to recover from the previous quarter marred by pandemic-related losses, it reported Bloomberg.
Also read: Oil maintains gains after this OPEC+ decision: Setback in Iran nuclear deal talks offers support
The Chinese city of Chengdu has asked the majority of its 21 million residents to stay home for three more days as officials continue to fight a flare-up of COVID-19 elsewhere in the country, the reported Wall Street Journal.
corporate news: Warren Buffett-supports BYD BYDDF rose to second place in the global electric car battery rankings in July, surpassing LG Energy Solution Ltd. how China’s demand for clean cars is increasing Bloomberg. Buffett’s company last week Berkshire Hathaway Inc (NYSE: BRK-A) recently reduced its stake in BYD for the second time by selling 1.72 million Hong Kong-listed shares in the company.
NEVER has officially started NIO Air AR glasses It was created with an augmented reality (AR) technology company real.
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