Hong Kong stock exchange’s IPO prospects has received a boost after fundraising in the city slumped to a two-decade low in the first half of the year.
A couple of solid listing debuts at the Hong Kong stock exchange have brought cheer to its new issue market as the city which saw a dismal first half.
The proceeds from new listings are down 35 per cent from a year ago and the lowest since the first half of 2003 when the Sars virus derailed the city’s markets.
The HKIC will use its initial corpus of HK$62 billion (US$8 billion) to support innovative start-ups, enhance economic growth and generate returns for the government.
‘An agile supply chain and connected-commerce capabilities are needed to sustain its success in an ever changing marketplace,’ Bain partner Derek Deng says.
A powerful rally in China’s government bonds that has pushed yields to a two-decade low shows no signs of easing amid persistent worries about the outlook for growth. A sluggish stock market and a long-running property downturn continue to dampen risk appetite.
The bourse owned by HKEX is exploring the idea of adding a warehouse in Hong Kong to its global network to meet rising demand for the physical exchange of metals such as aluminium and zinc between mainland China and the rest of the world, according to its CEO.
The company is now a member of an elite club of a handful of peers that have surpassed the key market capitalisation.
Hong Kong stocks hit two-month lows after growth in Chinese industrial companies’ profits slowed triggering growth concerns.
Several Hong Kong-listed Chinese property developers risk being excluded from the Stock Connect programme as their valuations have fallen below the statutory minimum.
Hozon is the latest to jump at the opportunity to raise funds abroad after China’s securities regulator opened the floodgates in mid-April to support qualified industry leaders to raise capital in Hong Kong.
Hong Kong stocks ended nearly unchanged, surrendering initial gains posted after China approved more online games as investors turned cautious amid intensifying geopolitical tensions.
Canada accused China of ‘anticompetitive practices’ as it announced it will launch a public consultation exploring potential tariffs on Chinese electric vehicles. The only battery-powered car built in China and exported to Canada is Tesla’s Model Y.
Zeng is the latest business leader to criticise the cutthroat competition amid mounting worries that constant price reductions are undermining profitability, reputation and even safety in China’s EV industry.
Chinese-made electric cars have a massive production cost advantage over their European rivals, which will allow them to gain market share despite the EU’s punitive tariffs
Henlius joins a wave of companies that have left Hong Kong’s stock market this year, either through privatisation or voluntary delisting having found themselves undervalued.
Hong Kong stocks rose, boosted by bargain-hunting trades, as the benchmark recovered from a slide that shaved nearly a tenth of its value over the past month.
City’s sustainable debt market issuance grew 236 per cent year on year in 2023 to US$18.2 billion, according to Climate Bonds Initiative.
Investors should stick with buying stocks that promise good dividends in China’s stock market, as a policy push is likely to encourage more payouts, and the cash built up by listed companies is at an all-time high, according to Goldman Sachs.
Hong Kong-listed ESR Group, an Asia-focused real estate services and investment company, said China’s securities regulator had approved its plan to list a Reit
Hong Kong stocks once dropped to their lowest levels in almost two months, as the lack of fresh supportive measures and lacklustre economic data made investors jittery.