Vitasoy’s stock price surges by nearly 20% after suspected takeover war – 20241128 – Economy – Daily Ming Pao

Economy Update: November 28, 2024

Hong Kong stocks climbed 443 points, driven by advancements in science and technology. The yuan’s recovery in A shares contributed significantly to this increase. Beishui has been a net buyer of SF Express for ten consecutive days, but the stock ended flat. Investors remain cautious about potential industry challenges.

Vitasoy’s stock price surged nearly 20% amid speculation of a takeover. Hong Kong is set to advance the ISSB sustainable financial roadmap. Meanwhile, mainland China’s industrial profits fell by 10% in October, a narrowing of 17 percentage points from previous months.

In legal news, HSBC faced a fine of 260 million related to the Euribor manipulation case, with its appeal rejected. Standard Chartered proposed selling its financial management operations in three African countries.

BYD urged its suppliers to reduce prices by 10%, citing that negotiations are common. The Credit Insurance Corporation highlighted that Hong Kong’s business outsourcing could help mitigate the impact of U.S. tariffs. UBS estimates that additional tariffs on China could reduce the GDP by one percentage point.

HSBC Investment Management noted the likelihood of interest rate cuts in the U.S. next year has diminished. The occupancy rate at the Jiansheng Regent Hotel was reported at 49%. Shihua narrowed its losses in the last quarter, with a 6% increase in revenue.

Fubon Finance is focusing on strengthening supervision to minimize risks. October’s core PCE inflation in the U.S. measured 2.8%, aligning with Federal Reserve expectations. The probability of a 0.25% interest rate cut has increased to 70%.

Bloomberg reported that Qualcomm is facing accusations of forced labor regarding Volkswagen’s Xinjiang business sale. Zhang Zhaocong from Zijin mentioned potential investment opportunities.

The Bank of China (BOC) in Hong Kong increased fixed deposit interest rates, reaching 8% for Hong Kong dollars. The British pound offers competitive fixed interest rates.

Haidilao needs its stock to reach 15.7 yuan to recover from its downturn. Watsons Wine Cellar responded to tax cuts with price decreases of nearly 60%. Liu Siming noted that while Hong Kong stocks are rising, the momentum remains weak, with low transaction volumes.

There were mixed signals in the real estate market. The official real estate index fell by 0.6% last month, impacting the negative trend since May. The rental index also saw a slight decline of 0.31%. Wealthy Shenzhen family Gao Yunfeng purchased a property at 101 KINGS ROAD for 81.18 million yuan, with an impressive selling price per square foot.

Mainland Chinese professionals are renting four-bedroom apartments in Ulshan for 59,000 yuan. UBS Wealth Management’s Li Zhiying expressed concern over tariff increases. Domestic real estate expert Xu Qingbo suggested that better land use could aid in area development efforts.