Stocks Blog: Chinese banks cut loan prime rate; New World Development, CSPC Pharmaceutical up in Hong Kong

South China Morning Post 發布於 2019年09月20日04:09
  • 'Mainlanders need to come back for retail to come back,' says Kenny Wen, wealth management strategist at Everbright Sun Hung Kai
  • Over past two months, Chow Sang Sang (116 HK) is down 24 percent and Chow Tai Fook(1929 HK) is down 20.7 per cent
     
It can be a bit lonely these days as a retail clerk. Here, an employee stands at the door of a Chow Tai Fook Jewellery Group store in the Causeway Bay district of Hong Kong on August 29, 2019. Photo: Bloomberg

Happy Friday, traders --

China's banks lowered the 1-year loan prime rate to 4.20 per cent from 4.25 per cent, according to China Foreign Exchange Trade System.

Sentiment remains week in Hong Kong, where stocks have fallen four straight days. Stocks of retailers have been hit hard.

Chow Sang Sang (116 HK) is down 24 percent, and Chow Tai Fook (1929 HK) is down 20.7 per cent, since July 19, when the demonstrations began taking a violent turn.

We have you covered in mainland and Hong Kong markets.

If you would like to receive the Live Stocks Blog each morning via email, shoot Deb a message at deb.price@scmp.com. the link will update as new items are added.

-- Zhang Shidong in Shanghai and Deb Price in Hong Kong

Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.

查看原始文章