Home » Hong Kong stock market morning report on February 14: China’s new credit data in January hit a record high, WuXi AppTec strongly objects to misleading accusations_Oriental Fortune Network

Hong Kong stock market morning report on February 14: China’s new credit data in January hit a record high, WuXi AppTec strongly objects to misleading accusations_Oriental Fortune Network

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Hong Kong stock market morning report on February 14: China’s new credit data in January hit a record high, WuXi AppTec strongly objects to misleading accusations_Oriental Fortune Network

China’s Increase in Social Financing and Credit in January Exceeds Market Expectations

China experienced an increase in social financing and credit in January that soared to record highs, surpassing market expectations. According to data released last Friday, the incremental social financing scale in January 2024 was 6.5 trillion yuan, compared to 1.94 trillion yuan in December and 6 trillion yuan in the same period last year.

In related news, the Bank of China disclosed that after establishing the urban real estate financing coordination mechanism, it has set up a special work team to introduce 15 specific measures aimed at providing support policies and meeting reasonable financing needs in the real estate sector.

Additionally, the overseas subsidiary of Jinglin Asset Management Hong Kong Co., Ltd., Jinglin Asset Management, has reported a 9.8% increase in position size, as of December 31, 2023.

Furthermore, on February 13, MSCI announced the results of its February 2024 index review, which involves the MSCI Global Standard Index, the MSCI Emerging Markets Index, the MSCI A-Share Onshore Index, and the MSCI China All Stock Index.

In the U.S. stock market, the Dow Jones, S&P 500, and Nasdaq all experienced declines, with large technology stocks falling across the board. Chinese concept stocks, including Alibaba, JD.com, NIO, and Bilibili, were among those that experienced noticeable drops.

The Hang Seng Index fell to 15746.58 points, and the Hang Seng Technology Index closed at 3127.22 points.

In company news, a notable acquisition is planned by Link Real Estate Fund (00823.HK) for the remaining 50% interest in Shanghai Property Qibao Vanke Plaza. Thongliang Holdings (02772.HK) and Swire Holdings A (00019.HK) have received required approvals related to debt restructuring and expansion of the beverage business, respectively.

WuXi AppTec (02359.HK) strongly opposed misleading accusations in response to a U.S. congressman’s letter, while Nissin Foods (01475.HK) reported its results for the nine months ended December 31, 2023.

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MGM China (02282.HK) reported a significant increase in net income for the full year of 2023, reaching US$3.2 billion, a 368% year-on-year increase.

The information in this article was sourced from the Financial Associated Press and does not constitute investment advice. It is crucial to operate accordingly at your own risk.

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