{Economic Information Daily, 20th} HSBC (00005) is currently down 2.8%, trading at HK$145.5, with approximately 310,000 shares traded, involving HK$445.2 million. Standard Chartered (02888) fell 3.58%, to HK$215.6.
According to The Guardian, UK Chancellor of the Exchequer Rachel Reeves plans to impose additional taxes on banks in the budget announcement on October 28. The report states that Reeves aims to use the tax revenue to offset public finance losses caused by the Middle East conflict and maintain the deficit reduction plan amid rising borrowing costs.
In addition, the yield on the UK 10-year government bond rose 6.210 basis points in a single day, closing at 5.444%, approaching the highest level since the 2007-2008 financial crisis. Meanwhile, Brent crude oil prices continue to hover near the USD 110 level, raising market concerns about prolonged high global inflation.
Currently, the Hang Seng Index stands at 23,990, down 196 points or 0.8%, with main board turnover exceeding HK$3.1 billion. The China Enterprises Index is at 8,078, down 49 points or 0.6%. The Hang Seng Tech Index is at 4,055, down 52 points or 1.3%. (nw)
According to The Guardian, UK Chancellor of the Exchequer Rachel Reeves plans to impose additional taxes on banks in the budget announcement on October 28. The report states that Reeves aims to use the tax revenue to offset public finance losses caused by the Middle East conflict and maintain the deficit reduction plan amid rising borrowing costs.
In addition, the yield on the UK 10-year government bond rose 6.210 basis points in a single day, closing at 5.444%, approaching the highest level since the 2007-2008 financial crisis. Meanwhile, Brent crude oil prices continue to hover near the USD 110 level, raising market concerns about prolonged high global inflation.
Currently, the Hang Seng Index stands at 23,990, down 196 points or 0.8%, with main board turnover exceeding HK$3.1 billion. The China Enterprises Index is at 8,078, down 49 points or 0.6%. The Hang Seng Tech Index is at 4,055, down 52 points or 1.3%. (nw)
