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Hong Kong stocks climb on call for ‘forceful’ state support to curb market rout

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Hong Kong stocks climb on call for ‘forceful’ state support to curb market rout

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Shares in Hong Kong posted their biggest daily gains this year following a call from China’s premier for “forceful” state support to halt a punishing market rout.

The city’s benchmark Hang Seng index rose 2.6 per cent on Tuesday after Premier Li Qiang’s called for “more forceful and effective measures to stabilise the market and boost confidence”.

The Hang Seng fell almost 14 per cent last year, making it one of the worst-performing benchmark indices across all large markets. Stocks in Shanghai, Shenzhen and Hong Kong are continuing to lose ground as a result of slowing economic growth in China, an unresolved financial crisis in the property sector and worsening tensions between Beijing and Washington.

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Traders said Li’s comments prompted a handful of global funds to begin to strategically buy up undervalued shares in Hong Kong, where shares are down about 10 per cent this year. But they added that the gains would prove fleeting if state support did not materialise.

“This is healthy buying, but unless there’s evidence of deployment then the impact of this sort of rhetoric will die out as quickly as it went on,” said the trading desk head at one investment bank in Hong Kong. “This could be the boy that cried wolf.”

Chinese equities in Shanghai and Shenzhen were little changed. The benchmark CSI 300 index was up just 0.4 per cent on Tuesday. “The rebound may be short-lived,” said Dickie Wong, head of research at Kingston Securities.

Separately on Tuesday, China’s video game regulator removed from its website draft rules that proposed controls on players’ spending, boosting shares in Hong Kong-listed game developers Tencent and NetEase and helping the Hang Seng tech index rise 3.8 per cent.

Authorities in Beijing have over the past year tried to halt a protracted sell-off in Chinese equities. Public measures to boost demand included cuts to stock trading fees and purchases of bank shares by a government investment fund.

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Regulators have also started issuing private instructions to Chinese mutual funds and securities companies that forbid them from being net sellers of equities on certain days.

The lack of interest from investors forced the city’s government to convene a liquidity task force last year to recommend measures to boost trading activity.

But that effort has had little impact, according to estimates by analysts at Goldman Sachs, which showed the share of listings in Hong Kong with less than $1mn of daily turnover had risen to about 60 per cent by the end of 2023, compared with a historic average of about 30 per cent.

“US capital and investors have been more cautious when it comes to positioning in Hong Kong-listed Chinese equities,” said Kinger Lau, chief China equity strategist at Goldman Sachs.

But he added that increased investment flows from the Middle East and south-east Asian investors “had partially offset the reduction in positioning from US and European investors.”

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The Onion has agreed to a new deal to take over Infowars

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The Onion has agreed to a new deal to take over Infowars

In this photo illustration, The Onion website is displayed on a computer screen, showing a satirical story titled Here’s Why I Decided To Buy ‘InfoWars’, on November 14, 2024 in Pasadena, California.

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The satirical website, The Onion, has a new deal to take over Infowars, conspiracy theorist Alex Jones’s far-right media company. If approved by a Texas judge, the deal would take away his Infowars microphone, and allow The Onion to resume its plans to turn the website into a parody of itself.

Families of those killed in the 2012 Sandy Hook Elementary School shooting, who sued Jones for defamation, want the sale to happen. They’re still waiting to collect on the nearly $1.3 billion judgement they won against Jones for spreading lies that they faked the deaths of their children in order to boost support for gun control. That prompted Jones’s followers to harass and threaten the families for years.

The families are also eager to take away Jones’s platform for spewing such conspiracy theories. The deal not only would divorce Jones from his Infowars brand, but it would turn the platform against him by allowing The Onion to mock his kind of conspiracy mongering and advocate for gun control.

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The families “took on Alex Jones to stop him from inflicting the same harm on others” by using “his corrupt business platform to torment and harass them for profit,” said Chris Mattei, one of the attorneys for the families. “When Infowars finally goes dark, the machinery of lies that Jones built will become a force for social good, thanks to the families’ courage and The Onion’s vision, persistence and stewardship.”

A mourner visits the Sandy Hook Permanent Memorial on the 10th anniversary of the school shooting on Dec.14, 2022 in Newtown, Connecticut. Twenty-six people were shot and killed, including 20 first graders and 6 educators, in one of the deadliest elementary school shootings in U.S. history.

A mourner visits the Sandy Hook Permanent Memorial on the 10th anniversary of the school shooting on Dec.14, 2022 in Newtown, Connecticut. Twenty-six people were shot and killed, including 20 first graders and 6 educators, in one of the deadliest elementary school shootings in U.S. history.

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For its part The Onion called it a “significant step in an effort to transform one of the internet’s more notorious misinformation platforms into a new comedy network for satire.” The company says it could announce its new rollout of Infowars in a matter of weeks if the judge approves the deal.

“Eight years, almost to the day, after the Sandy Hook parents first filed suit against Alex Jones, they’ll finally get some justice, and even some money,” said Ben Collins, CEO of The Onion. “This is a chance to make something genuinely new out of a very broken piece of media history.”

On its website Monday, The Onion posted a satirical message from the fictional CEO of its parent company, Global Tetrahedron, “Bryce P. Tetraeder,” stating a “dream is finally coming true.”

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Jones’s posted on X Monday that “The Onion Has Fraudulently Claimed AGAIN That It Owns Infowars!!!” adding that “The Democrat Party Disinformation Publication Is Publicly Bragging About Its Plan To Silence Alex Jones’ Infowars And Then Steal & Misrepresent His Identity!”

On a podcast in March, Jones alluded to the impending demise of Infowars, saying, “We’re getting shut down. We beat so many attacks. But finally, we’re shutting down like the middle of next month,” before insisting, “We’re going to be fine.”

Jones suggested Monday he would appeal any court decision to approve the leasing deal. And even if he loses control of Infowars, Jones could continue to broadcast from another studio, under another name.

Jones’s attorneys did not respond to a request for comment.

More than a year ago, a federal bankruptcy judge rejected The Onion’s first attempt to buy Infowars through a bankruptcy auction, saying the process was flawed. Since then, the bankruptcy court clarified that because Infowars’ parent company, Free Speech Systems, is not itself in bankruptcy, its property should be handled instead by a Texas state receiver. That cleared the way for the new pending deal to lease Infowars to The Onion, with the hope that a future sale could be approved.

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In papers filed in state court, the Texas receiver said he “determined that licensing the Intellectual Property is in the best interest of the receivership estate.”

The deal calls for The Onion to pay $81,000 a month to license the Infowars.com domain and brand name, which the receiver says will “cover carrying costs to preserve and protect the assets of the receivership estate” until an appeal filed by Jones is decided and the path is cleared for a sale.

Jones’s personal bankruptcy case is proceeding in federal bankruptcy court, where a trustee continues to sell off Jones’s personal property, including cars, homes, watches and guns, with proceeds intended for the families.

A memorial to massacre victims stands near the former site of Sandy Hook Elementary on Dec. 14, 2013 in Newtown, Connecticut, one year after  Adam Lanza shot and killed 20 first graders and six adults at the school.

A memorial to massacre victims stands near the former site of Sandy Hook Elementary on Dec. 14, 2013 in Newtown, Connecticut, one year after Adam Lanza shot and killed 20 first graders and six adults at the school.

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Tehran says ‘no plans’ for new talks after US seizes Iranian cargo ship

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Tehran says ‘no plans’ for new talks after US seizes Iranian cargo ship

US negotiators to head to Pakistan and Iranian cargo ship seized – a recappublished at 00:37 BST 20 April

Image source, Reuters
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Tankers in the Strait of Hormuz on Saturday

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Here’s a recap of the latest developments.

US negotiators will head to Pakistan on Monday with the intention of holding further talks on ending the war, Trump says – but Iranian state media cites unnamed officials as saying Tehran has “no plans for now to participate”.

The prospect of further high-level negotiations – a White House official says Vice-President JD Vance will attend – comes amid reports of fresh attacks on commercial vessels.

Trump says the navy intercepted and took “custody” of an Iranian tanker attempting to pass through the US blockade, “blowing a hole” in the ship’s engine room in the process.

Earlier, in the same post announcing his representatives would travel for more talks, Trump renewed his threat to destroy Iranian energy sites and bridges if no deal is reached.

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Reports in Iranian media over the weekend suggest Iran is continuing to work on plans to potentially apply a toll to ships passing through the strait – although it’s unclear if such a move will be implemented.

Iranian state TV cites unnamed officials as saying that “continuation of the so-called naval blockade, violation of the ceasefire and threatening US rhetoric” are slowing progress in reaching an agreement.

Trump also accused Iran of violating the ceasefire, saying more commercial ships have been attacked by Iran in the Strait of Hormuz.

A UK maritime agency reported two commercial ships came under fire in the strait on Saturday.

Iran’s foreign minister had said on Friday that the strait would be opened – which was shortly followed by Trump saying the US naval blockade of Iranian ports would remain in place until a deal is reached. Iran has since said the strait is closed again.

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Video: 8 Children Killed in Louisiana Shooting, Police Say

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Video: 8 Children Killed in Louisiana Shooting, Police Say

new video loaded: 8 Children Killed in Louisiana Shooting, Police Say

A gunman shot 10 people, killing eight children, in a domestic violence shooting at multiple locations in Shreveport, La., the police said. The victims ranged in age from 1 to 14. The gunman was later fatally shot by officers.

By Christina Kelso

April 19, 2026

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