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HONG KONG, Jan. 19 (Xinhua) The Hong Kong stock market set a new record in total turnover on Tuesday, driven by surging capital inflows, with the benchmark H
Read more about Hong Kong Market gains on upbeat China GDP data on Business Standard. China s gross domestic product climbed 6.5% on year in the fourth quarter of 2020, the National Bureau of Statistics said on Monday, up from 4.9% in the three months prior. On a seasonally adjusted quarterly basis, GDP expanded 2.6%, slowing from
BlackRock is selling stakes in sanctioned Chinese mobile firms
Benjamin Robertson, Bloomberg News American flags fly at the entrance to BlackRock Inc. headquarters in New York, U.S, on on Thursday, July 9, 2020. BlackRock is scheduled to release earnings figures on July 17. , Bloomberg
BlackRock Inc. has been selling stakes in three Chinese telecommunication providers after the U.S. put them on its sanctions list.
The worldâs largest money manager reduced its holdings in China Mobile Ltd., China Telecom Corp. and China Unicom Hong Kong Ltd. in recent weeks and plans to keep selling, according to a person with knowledge of the matter. One of the biggest outside shareholders in the companies, BlackRock is responding to the executive order issued by President Donald Trump in November barring investments in companies deemed to be owned or controlled by Chinaâs military.
The products include warrants and callable bull/bear contracts on Hong Kong’s benchmark Hang Seng Index, the Hang Seng China Enterprises Index and China Mobile Ltd., according to filings to Hong Kong Exchanges and Clearing Ltd. The city is the world’s largest structured product market with more than 12,000 listed products, HKEX figures show.Separately, the $14 billion Tracker Fund of Hong Kong said it would refrain from making new investments in companies covered by the ban, adding that the fund is no longer “appropriate” for U.S. investors. Managed by State Street Global Advisors Asia Ltd., the tracker fund is Hong Kong’s most actively traded ETF.