China, Hong Kong stocks fall in early trade amid volatile regional markets

China, Hong Kong stocks fall in early trade amid volatile regional markets photo China, Hong Kong stocks fall in early trade amid volatile regional markets

Adding to the positive sentiment, Japan’s Nikkei 225 stock index rose 7.7 percent, the most it has risen in a day since the depths of the global financial crisis in October 2008, as Prime Minister Shinzo Abe signaled that the country will cut corporate taxes.



Moody’s Investors Service is challenging a $3 million fine by Hong Kong’s securities regulator, which accuses the credit rating agency of misconduct over a 2011 report that flagged potential problems at Chinese companies. “There’s no way for Hong Kong fans to create trouble”.

But Hong Kong refused to give up, and got on the scoresheet themselves in the 87th minute with a goal from Bai He to give the home support a smidgen of hope.

Sharp losses in Chinese stocks triggered by a devaluation in the local currency and fears of overvaluation after rapid gains mean connections between Hong Kong and Shenzhen, tentatively scheduled for completion toward the end of this year, may have to wait until 2016, the South China Morning Post reports.

Within two minutes, Hong Kong’s Godfred Karikari found the net again to make it 3-2 with a stunning strike.

“Also, a lot of people in Hong Kong were refugees from the Great Leap Forward [1958-1960] and the Cultural Revolution [1966-1976], so they hate the Communist Party”, Tam said.

There were fans booing the national anthem when it was played, while a portion of fans reacted with rounds of applause. But with only the group winners being assured of qualification for the third round of World Cup qualifiers, successive away wins for Hong Kong against Bhutan and the Maldives in the next two games are a must ahead of a tasty little home date with China in November.

A promotional poster used by The China Football Association in June described Hong Kong’s team to be “black skinned, white skinned and yellow skinned”, sparking anger among football fans in the city.

If the mainland government can put itself in our shoes more often and come up with solutions to these issues with empathy, I am sure the conflicts and distrust between the two sides can be mitigated. Translated and written in English by Luisetta Mudie.

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