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Al-Saadi: There were concerns that Lahham would be placed under administrative detention.
Al-Saadi: The Israeli occupation authorities could not prove any allegations leveled against Nasser Lahham.
Lawyer Oussama al-Saadi: The oppressive Israeli measures of delaying Lahham's release had vengeful motives.
Nasser Lahham's lawyer said the journalist was released without any conditions or restrictions, adding that the conditions in which he was kept were terrible.
The Israeli occupation authorities release Al Mayadeen Palestine bureau chief Nasser al-Lahham.
Local Syrian sources: An Israeli airstrike targeted a tank and artillery battalion in the city of Izraa in the Daraa countryside
Al Mayadeen's correspondent in eastern Lebanon: 12 martyrs and 5 wounded in Israeli raids targeting the outskirts of Wadi Fa'ra in the northern Bekaa Valley
Local Syrian sources: More than 10 Israeli raids targeted Sweida, with information about more than five casualties from the Internal Security Forces
Local Syrian sources: Initial reports indicate that approximately 15 people were killed or wounded at the al-Radwan family's guest house in Sweida following a direct exchange of gunfire
Israeli media, citing Israeli political sources, reported that the Shas movement is expected to withdraw from the government within less than 24 hours

Hong Kong stocks rocket to extend surge

  • By Al Mayadeen Net
  • Source: Agencies
  • 17 Mar 2022 08:34
3 Min Read

Hong Kong stocks soared more than 6% at the start of trade Thursday morning, extending the previous day's 9% gain.

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  • Hong Kong stocks rocket to extend surge
    Hong Kong stocks rocket to extend surge.

Hong Kong stocks rose 9% on Thursday, extending the previous day's rise, as investors re-entered the market following China's commitment to supporting it.

By the break, the Hang Seng Index had risen 5.79% or 1,163.47 points to 21,250.97.

Shanghai Composite Index

The Shanghai Composite Index gained 2.59% or 82.25 points to 3,252.96, while the Shenzhen Composite Index gained 3.56% or 74.25 points to 2,160.50 on China's second market.

Investor confidence skyrocketed on Wednesday as Chinese authorities stated they will maintain capital market stability and implement risk-management measures for distressed property developers.

Hang Seng Tech Index 

The Hang Seng Tech Index rose more than 10% on Thursday, following a record gain of more than 20% the day before.

And market heavyweights in the technology sector expanded on their rapid gains, with Alibaba, Tencent, JD.com, XD Inc, and Meituan all up between 7% and 15%.

"In the short term, it's fund flow and liquidity that's driving up the whole market, on the back of such a cheap valuation level," said Kenny Wen, at Everbright Sun Hung Kai Co.

"But whether the market can keep rallying is really up to the regulatory environment and corporate earnings recovery story."

He added that "tech will keep recovering but it remains challenging for them to recover to the previous levels, given the shifted regulatory regime in general".

Evergrande 

Troubled Evergrande was up over 20%, following an 11% increase on Wednesday, on prospects for government assistance as it struggles under a mountain of debt.

Thursday's bounce came on the heels of a good performance on Wall Street when an index of Chinese firms listed in the United States gained 33%.

The gains were also aided by Federal Reserve Chairman Jerome Powell's bullish view of the US economy after the bank raised interest rates by a quarter-point for the first time since 2018.

Powell said there was little chance of a recession in the next year and noted that it was "very strong and well-positioned to handle tighter monetary policy."

He told reporters after the rate hike, "We're not going to let high inflation become entrenched. The costs of that would be too high." 

He added that the Fed was determined to utilize its "powerful tools" to prevent this and that a forecast of future hikes suggested that another six could be on the way before the end of the year.

  • Hong Kong
  • China
  • Shanghai Composite Index
  • Hang Seng Tech Index
  • Evergrande

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