Archives of “hong kong” tag

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USD weakening further into Asia morning FX trade

  
Analysis, Forex
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The overnight (and past weeks!) USD weakness is carrying over into early Asia

Its heading towards 8.30am in Tokyo and 7.30 in Singapore and Hong Kong
Across the board USD weakness, although CAD is a laggard.
Apart from what I have been posting there is no fresh news.

Nikkei 225 closes higher by 1.59% at 22,945.50

  
Analysis, Global Indices
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Japanese stocks boosted by more upbeat Wall Street sentiment

Nikkei 15-07

The late surge by US stocks overnight is helping to give Asian equities a decent lift in trading today, though Chinese and Hong Kong stocks are weighed down by US-China tensions after Trump removed Hong Kong’s special status earlier in the day.

The Hang Seng is seen at flat levels now after trading in the red earlier while the Shanghai Composite has pared some losses to be down by 0.2% currently.
Elsewhere, US futures are still keeping more upbeat with S&P 500 futures up by ~0.8%.
That is keeping the likes of the aussie and kiwi more underpinned ahead of European morning trade, with AUD/USD flirting with the 0.7000 handle while NZD/USD is trying to crack back above its key hourly moving averages at 0.6552-69.

Chinese state council says will step up punishment for IP infringement

  
  Analysis
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Comments via Xinhua

China
  • Will step up policy support for trade development
  • Will lower non-tariff trade barriers
  • Will further accelerate efforts to build exports control system to manage trade risks
  • Will properly resolve trade frictions
  • Will further widen market access for foreign capital
Can’t really help to think that the comments above are no coincidence to the timing of the situation after the HK bill. If anything, I reckon China wants to impose their authority to make sure the US knows that they can’t simply mess with China’s internal affairs.
However, at the same time, they are also seemingly not going to push the relationship until it breaks and that there is still some gesture of goodwill to try and get to a “Phase One” deal. The question now is, can both sides see eye to eye long enough to make it work?

Hong Kong leader Lam says cannot say under what circumstances she’d call on China central government

  
Analysis, Politics
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Hong Kong leader Carrie Lam comments from press conference.

  • says there is no bottom line for protesters’ violent acts
  • says amount of visitors during ‘golden week’ fell by 50%
  • appeals to developers and landlords to offer relief to retailers
  • says aims for fair district elections, although current atmosphere is complex
  • says an objective of the anti-mask law is to let youth know not to participate in these political actions
  • she has no plans to use the emergency regulation ordnance for introduction of other laws
  • it is still too early to say if the anti-mask law is ineffective
  • using the emergency powers was a very difficult decision
  • anti-mask law still valid and effective at this time
  • upcoming policy address will not be the “usual comprehensive” address
  • says there is widespread support for the anti-mask law
  • says no foreign government should think these are peaceful protests
  • says believes Q3 economic figures will surely be very bad
  • she did not meet any central govt officials to talk about business while in Beijing for national day holiday
  • says she still feels HK should find solutions on its own, and central govt holds same view
  •  says cannot say under what circumstances Hong Kong would call on central govt

The HKD is on the weak side, but not threatening the band as yet:

Hong Kong leader Carrie Lam comments from press conference. 

Bloodsport teaches trading

  
  Education
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In my all time favourite Jean Claude Van Damme film, Bloodsport, JCVD travels to Hong Kong to fight in the Kumite, a legendary, underground fighting tournament that takes place once every four years.

This piece of cheesy dialogue is highly relevant to trading:

Journalist: Why is it that no one will talk about the Kumite? What is this air of mystery? (pause) Why are you fighting in it?

JCVD: It’s personal.

Journalist: You want to prove your manhood to the world?

JCVD: The Kumite is for the fighters, not for the people who read the newspapers.

Lesson: Always remember your motive.

In this clip, JCVD is through to the the final, where he fights Kumite champion Chong Li. Note that Bolo Yeung (the actor who played Chong Li), was 49 years old when Bloodsport was filmed.

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