U.S. stocks trade mixed after Chrysler files for bankruptcy

Special Report:Global Financial Crisis

NEW YORK, April 30 (Xinhua) -- Wall Street ended
mixed Thursday after the third largest U.S. automaker Chrysler announced it will
file for Chapter 11 bankruptcy.

Wall Street opened higher in the morning as investors
welcomed a surprise decline in new jobless claims and earnings beating
estimates.

The U.S. Labor Department said initial claims fell
14,000 to 631,000 last week. Economists had predicted a rise. But continuing
claims jumped to a new record.

However, the U.S. Commerce Department reported
Thursday that consumer spending dropped by 0.2 percent in March, worse than the
0.1 percent decline that economists had expected.

In a midday speech, U.S. President Barack Obama
indicated that Chrysler will form an alliance with the Italian carmaker Fiat
Group SpA.

Under the direction of the U.S. Treasury, the
troubled automaker and 24 of its wholly owned U.S. subsidiaries filed voluntary
petitions under Chapter 11 of the Bankruptcy Code in U.S. Bankruptcy Court.

In corporate news, many companies including Dow
Chemical, PG, Exxon Mobil and Newmont Mining reported results topped
analysts' expectations. And Motorola Inc. posted a loss during the first
quarter, but smaller than analysts had predicted.

The Dow Jones industrial average fell 17.61 points, or 0.22 percent, to 8,168.12. The Standard Poor's 500 index dipped 0.83 of a point, or 0.09 percent, to 872.81. The Nasdaq Composite index was up 5.36 points, or 0.31 percent, to 1,717.30.

U.S. stocks rebound strongly on Fed comment

NEW YORK, April 29 (Xinhua) -- Wall Street rebounded strongly on Wednesday as the Federal Reserve's comment that the economic recession is easing helped boost market sentiment.

Major indexes of the U.S. stocks gained more than two percent, and the Dow Jones industrial average surged nearly 169 points to the highest close since February 9.

The Fed concluded its two-day monetary policy meeting on Wednesday afternoon and said in a statement that while the U.S. economy is still contracting, the pace of decline "appears to be somewhat slower." The Fed also decided to leave key interest rates at near-zero level.

Investors also reacted positively to the worse-than-expected gross domestic product report, focusing on the bright spots. U.S. GDP shrank at an annual rate of 6.1 percent in the first quarter, more than the five percent slide economists had expected. But consumer spending, which accounts for over two-thirds of U.S. economic activity, rose 2.2 percent, and business inventories saw a severe drop.

Elsewhere, Exxon Mobil Corp., the world's largest oil company, and Conoco Phillips advanced as crude rebounded near 51 dollars a barrel. And Citigroup Inc. and Bank of America gained as Fox-Pitt Kelton Cochran Caronia Waller lifted its stance on U.S. banks.

The Dow Jones jumped 168.78, or 2.11 percent, to 8,185.73. Broader indexes also moved higher. The Standard Poor's 500 index advanced 18.48, or 2.16 percent, to 873.64; and the Nasdaq rallied38.13, or 2.28 percent, to 1,711.94.

U.S. stocks trade flat as upbeat economic data offset flu concerns

Special Report:Global Financial Crisis

NEW YORK, April 28 (Xinhua) -- Wall Street traded
flat on Tuesday, as bigger-than-expected increase in consumer confidence and a
slower drop in home prices offset concerns about the swine flu outbreak and the
banking industry.

The U.S. Conference Board, an economic research
group, said its consumer confidence index rose to 39.2 in April, up from a
revised 26.9 in March. The reading marks the highest level since November and
surpasses the reading of 29.5 economists had expected.

Moreover, the Standard Poor's/Case-Shiller
index showed home prices in 20 major cities tumbled by 18.6 percent in February
from a year ago. It is the first time the index didn't set a record since
January 2007 and was slightly better than January's 19-percent decline.

Airlines stocks still got hammered on Tuesday on
fears that worried travelers would stay home, as the deadly swine flu virus is
rampant in Mexico.

Banking stocks were traded lower after the U.S.
government said Bank of America Corp. and Citigroup Inc. may need more capital.

The Dow Jones industrial average was down 8.05 points, or 0.10 percent, to 8,016.95. The Standard Poor's 500 index dropped 2.35points, or 0.27 percent, to 855.16. The Nasdaq composite index fell 5.60 points, or 0.33 percent, to 1,673.81.

Hong Kong stocks up 3.31%

Special Report:Global Financial Crisis

HONG KONG, April 30 (Xinhua) -- Hong Kong stocks once went up 495.05 points, or 3.31 percent, during morning session on Thursday to 15,452.

The market's benchmark Hang Seng Index once reached its day high 15,496.67 on Thursday morning. Properties were strong, with Sino Land surge 6.20 percent, Cheung Kong rose 4.96 percent, Henderson Land, 4.64 percent.

Hong Kong stocks end 2.76% up

Special Report:Global Financial Crisis

HONG KONG, April 29 (Xinhua) -- Hong Kong stocks rose 401.84 points, or
2.76 percent to close at 14,956.95 on Wednesday.

Market turnover went downward to 50.70 billion HK dollars (about 6.54
billion U.S. dollars) from Tuesday's 56.24 billion Hong Kong dollars.

Investor concerns over swine flu took a back seat after the index fell 4.6
percent in the previous two sessions, as people now believe it is still too
early to assess the risks of a pandemic, traders said.

Consumer trading firm Li and Fung surged 7.2 percent to 21.05 HK dollars
(about 2.72 U.S. dollars) after better-than-expected U.S. consumer confidence
data overnight.

Cathay Pacific rebounded after falling on concerns over the swine flu
outbreak, leading Hong Kong shares higher Wednesday. It rose 5.6 percent to 8.81
HK dollars after a two-day 8.8 percent drop due to swine flu fears.

Citigroup wrote that it is too early to conclude the strong recovery in
China air travel will be disrupted by swine flu, given swift measures by global
agencies.

Sinopec rose 3.6 percent to 5.80 HK dollars after posting an 85 percent
rise in first-quarter net profit.

It was also helped by news it expects its net profit for the first-half of
2009 to rise more than 50 percent from a year earlier due to lower oil costs.

Property companies outperformed the broader market, with the property
sub-index rising 4.1 percent. Wharf jumped 7.1 percent to 24.30 HK dollars and
Sun Hung Kai Properties rose 3.7 percent to 76.95 HK dollars.

Hong Kong stocks close 0.96% higher, boosted by banking, property sectors

Special Report:Global Financial Crisis

by Wang Haiqing

HONG KONG, April 20 (Xinhua) -- Hong Kong stocks closed moderately higher
on Monday, boosted by the strong performance of banking and property sectors.

The benchmark Hang Seng Index fell 26.95 points, or 0.17 percent, to open
at 15,601,27 and moved out of negative territory after touching intra-day low
15,382.96 in the morning session.

The index once rose as much as 277.13 points, or 1.77 percent, to the day's
highest 15,878.4 before gaining 149.64 points, or 0. 96 percent, to close at
15,750.91.

Turnover fell sharply to 57.09 billion HK dollars (7.37 billion U.S.
dollars) from Friday's 75.30 billion HK dollars (about 9.73 billion U.S.
dollars).

HSBC, which accounts for the largest weighting of the Hang SengIndex,
underperformed the index by dipping 0.36 percent to 54.95 HK dollars.

Another market heavyweight China Mobile, the country's largest mobile phone
operator and the market's largest stock measured by capitalization, added 0.4
percent to 74.3 HK dollars after its net profits rose 5.2 percent to 25.2
billion yuan (about 3.7 billion U. S. dollars) in the first quarter.

Hong Kong Exchanges and Clearings Limited, the market's sole operator,
advanced 1.79 percent to 90.95 HK dollars.

Due to the resilience of the Chinese mainland economy, Hong Kong-listed
companies have become increasingly attractive to investors amid the ongoing
global economic slump.

Marco Mak, managing director of Hong Kong-based Taifook Research, said he
was not surprised by the rebound of close to 50 recent of the Hang Seng Index
since October, adding that the benchmark may rise to 18,000 at most this year.

Strong home sales over the weekend helped bolster local property companies.
Cheung Kong share price was up 3.46 percent to79.3 HK dollars. Sung Hung Kai
Property, Hong Kong's largest house developer, edged up 0.29 percent to 85.65 HK
dollars. New World Development was up 4.14 percent to 10.56 HK dollars.
Henderson Land rose 4.48 percent to 37.3 HK dollars on news of its chairman's
stake buildup.

Hong Kong-listed Chinese banks showed strong performance as they are posed
to benefit from the RMB bond business introducing in Hong Kong. ICBC, China's
largest lender, rose 0.67 percent to 4. 5 HK dollars. Bank of China jumped 4.98
percent to 2.95 HK dollars with the most turnover as investors expected the bank
to benefit the most from China's expansion of RMB business in Hong Kong.

China's insurers were higher. China Life, the largest insurance company in
the country, moved up 0.89 percent to 28.2 HK dollars. Ping An, China's second
largest insurance company behind China Life, rose 3.33 percent to 52.7 HK
dollars.

Hang Seng China H-financials Index closed 2.54 percent higher compared to
the previous day.

China Merchants Bank registered a 5.94-percent rise in share price,
followed by BOC Hong Kong with a 4.98-percent increase.

Other bluechips that registered robust growth include Wharf Holdings with
6.1 percent, China Merchants Holdings with 5.74 percent, and Bank of
Communications with 3.54 percent.

Energy companies were heading towards different directions. PetroChina, the
country's largest oil producer, rallied 2.38 percent to 6.89 HK dollars.
Sinopec, China's largest oil refiner, rose 3 percent to 6.19 HK dollars. CNOOC,
China's largest offshore oil company, skidded 0.87 percent to 9.12 HK dollars.
China Shenhua, the country's largest coal producer, gained 1.20 percent to 21 HK
dollars. (7.742 HK dollars = 1 U.S. dollar)

Hong Kong stocks end higher as property sector gains

Special Report:Global Financial Crisis

HONG KONG, April 17 (Xinhua) -- Hong Kong stocks closed slightly higher Fridays as property sector led the moderate gains, but a fall in China-related stocks, or H shares, limited the rise to resume 16,000 level.

The blue-chip Hang Seng Index rose 18.28 points, or 0.12 percent, to 15,601.27 after hitting an intraday high of 15,956.46. The index gained 7.1 percent, or 1,055 points, this week. Turnover rose to 75.30 billion HK dollars (about 9.73 billion US dollars) from Thursday's 74.63 billion HK dollars (about 9.64 billion US dollars).

Cheung Kong rose 0.9 percent to 76.76 HK dollars, but was off its intraday high of 79.60 HK dollars. It said it sold more than 90 percent of 1,068 units in a residential project in the New Territories since its launch Thursday.

Goldman Sachs also upgraded its view on the Hong Kong property sector to neutral from cautious, following the report, Sino Land jumped 9.8 percent to 10.24 HK dollars and Hang Lung Properties rose 1.7 percent to 21.30 percent.

Among the H shares, Chalco shed 4.5 percent to 6.22 HK dollars. PetroChina dropped 1.5 percent to 6.73 HK dollars and China Construction Bank was off 0.8 percent at 4.70 HK dollars.

Cathay Pacific fell 3.4 percent to 9.25 HK dollars. The Hong Kong-based airline said Friday its first-quarter revenue from passenger and cargo services fell 22.4 percent from a year ago, and it was to ask some staff to take unpaid leave.

The airline reported a net loss of 8.6 billion Hong Kong dollars (1.1 billion U.S. dollars) for 2008, a dramatic turnaround from the previous year's profit of 7 billion HK dollars. The company will also reduce passenger and cargo capacity.

HKEx rose 0.5 percent to 89.35, but off intraday high of 91.95 HK dollars.

Mengniu rose 4.83 percent to 13.02 HK dollars on rebound after Thursday's 5.6 percent decline on worse-than-expected 2008 results. After hit by melamine scandal last year, Mengniu's sales of liquid milk recovered rapidly, as first quarter sales volume had recovered to 80 percent of pre-melamine crisis level.

Hong Kong stocks close 0.55% lower

Special Report:Global Financial Crisis

HONG KONG, April 16 (Xinhua) -- Hong Kong stocks closed 0.55 percent lower
on Thursday as PetroChina led drops in blue chips on profit-taking, while index
heavyweight China Mobile and Esprit helped limit the market's decline.

The blue-chip Hang Seng Index fell 86.63 points to 15,582.99, after trading
between 15,517.39 and the year-to-date high of 15, 977.13. Turnover rose to
74.63 billion HK dollars (about 9.64 billion U.S. dollars) from Wednesday's
66.26 billion HK dollars ( about 8.56 billion U.S. dollars).

The market recovered some ground after early intra-day lows following the
release of the first quarter GDP data of China, but resumed the downtrend in the
afternoon session.

China's GDP expanded by 6.1 percent in the first quarter, according to the
National Bureau of Statistics. The data was largely in line with market
expectations.

PetroChina fell 2.3 percent to 6.83 HK dollars and Sinopec shed 1.0 percent
to 5.93 HK dollars. Sinopec dropped 1.00 percent to 5.93 HK dollars.

However, China Mobile, which had lagged the market rally, rose 1.4 percent
to 74.15 HK dollars, while Esprit jumped 4.98 percent to 40.05 HK dollars,
recovering from recent weakness caused by management changes at the company.

PICC PC tumbled 9.7 percent to 4.73 HK dollars after reporting a 98
percent drop in 2008 net profit to 50 million yuan from 2.99 billion yuan for
the previous year.

China Cosco fell 3.92 percent to 7.11 HK dollars and Bank of China moved
down 2.05 percent to 2.86 HK dollars.

China Eastern Airlines fell 5.6 percent to 1.34 HK dollars, after its
worse-than-expected 2008 results. The airline swung to a net loss of 15.3
billion yuan last year from a net profit of 379 million yuan the previous
year.

HK stocks close higher on China rebound hopes

Special Report:Global Financial Crisis

HONG KONG, April 15 (Xinhua) -- Hopes of an economic rebound in China drove Hong Kong stocks slightly higher for the third straight session Wednesday.

The benchmark Hang Seng Index closed up 89.46 points, or 0.57 pct at 15,669.62 after trading between 15,213.39 and 15,669.85 during the session and spending most of the day in negative territory.

Turnover fell to 66.26 billion HK dollars (about 8.56 billion U. S. dollars) from Tuesday's 75.42 billion HK dollars (about 9.74billion U.S. dollars).

Wall Street shifted into reverse overnight after the U.S. government reported a 1.1 slump in retail sales in March, an unexpectedly poor result that rattled hopes that the worst of the recession had passed.

But signs of recovery in China's economy drove Hong Kong stocks a positive session as China's Ministry of Commerce spokesman Yao Jian said Wednesday that actual foreign direct investment in China came to 8.4 billion U.S. dollars in March.

Though the figure was down 9.5 pct from a year earlier, it was the highest monthly level since June last year.

China Mobile jumped 4.8 pct to 73.15 HK dollars, contributing 74.58 points of the HSI's rise.

Citic Pacific rose 3.2 pct to 12.78 HK dollars, extending its 28.7 pct gain over the last two sessions.

Sinopec rose 2.74 pct, or 0.16 pct to 5.99 HK dollars and China Mining moved up 2.74 pct, or 0.16 HK dollars, to 5.99.

Bank of China dropped 1.02 pct, or 0.03 to 2.92 HK dollars and ICBC lowered 0.89 pct, or 0.04, to 4.45 HK dollars.

HK stocks finish 4.55% higher, turnover surges

Special Report:Global Financial Crisis

pedestrian looks at the electronic board
displaying the Hang Seng Index of the Hong Kong Stock Exchange in Hong
Kong, south China, on April 14, 2009. Hong Kong's benchmark Hang Seng
Index closed up 678.75 points at 15,580.16 points on Tuesday. (Xinhua/Lui
Siu Wai)
Photo
Gallery

HONG KONG, April 14 (Xinhua) -- Driven by gains in
HSBC and the Chinese mainland stocks, Hong Kong stocks closed 4.55 percent
higher on Tuesday.

The benchmark Hang Seng Index closed up 678.75 points
at 15,580. 16, after rising as high as 15,596.34 intraday. The index is up 14. 8
percent from the beginning of April and up 37.3 percent from its March 9 low of
11,344.

Turnover jumped to 75.42 billion HK dollars from
52.66 billion Thursday, the last day of trading before Hong Kong's markets
closed Friday and Monday for the Easter holiday.

Boosted by a strong performance on the Chinese
mainland bourses during the extended break, traders said they expect the index
to hit 15,800 in the near term.

Chinese mainland shares rose to an eight-month high
Tuesday on hopes for a rebound in growth amid economic indicators showing signs
of improvement. Premier Wen Jiabao said over the weekend that March industrial
output might rise by as much as 8.3 percent from a year earlier.

HSBC led gains in Hong Kong after U.S. bank Goldman
Sachs said its first-quarter net income rose 20 percent. HSBC rose 9.3 percent
to 55.65 HK dollars and contributed 252.60 points to the HSI's gain.

Standard Chartered ended 10.4 percent higher at
117.10 HK dollars, and Manulife financial surged 16.4 percent to 120.60. HK
Exchanges, the local bourse operator, jumped 7.3 percent to 89.25 HK dollars on
strong turnover on the index.

Citic Pacific rose 16.6 percent to 12.38 HK dollars,
following a 12.1 percent advance on resuming trade Thursday, with investors
expecting a new start following a management shakeup that gives the
conglomerate's state-run parent firmer control.

Chinese firms also surged, Bank of China ended the
session up 4. 6 percent at 2.95 HK dollars, energy giant CNOOC rose 7.7 percent
to 8.78 and Chalco jumped 11.1 percent to 6.13 HK dollars.