New World Development has agreed to sell its shopping centre and parking spaces in Tsuen Wan to Chinachem Group for US$510 million, speeding up asset sales to trim its financing costs.
Hong Kong stocks climbed from a two-month low on Monday morning as Beijing’s ban on Micron Technology over security concerns propelled a rally in Chinese chip makers.
Hong Kong has topped other Asian cities where ultra-wealthy individuals maintain primary or secondary residences, with an estimated 15,175 such residents, according to the latest report by London-based Altrata.
BYD plunges in Hong Kong trading after a filing shows Berkshire Hathaway trimmed its stake in the EV maker by about US$47 million.
Hong Kong’s bourse operator may have to wait longer to extract the benefits of more IPOs and trading volume as the US-China audit deal could allow Chinese companies to keep their New York listing status.
Markets are now pricing in around a 50 per cent chance of them being delisted based on a new delisting risk model created by the US bank. That compares with a high of 95 per cent in mid-March.
Covid-19 lockdowns, heatwave and power shortages are causing sales and production pain for Chinese Tesla challengers. Analysts have recently turned less bullish as big funds scooped up more shares.
Local stocks halted a two-week slide as Alibaba and Chinese tech peers powered this week’s 2 per cent rally. A solution to the US-China audit tiff may support further gains.
Hong Kong stocks surged by the most in four months after China unveiled new stimulus to shore up the economy. Fresh speculation on US delisting matters emerged, lifting tech firms.
Onshore stocks decline in early trading with traders worried about economic slowdown and a looming power crisis. The morning session in Hong Kong was cancelled for all markets because of typhoon warning.
Wishful thinking to expect China will fix the housing crisis before the Party Congress, while problems at home and rising geopolitical tensions make assets ‘only selectively investable’.
Local stocks hit another new low, this time with Alibaba, BYD and Geely Auto pacing the drop. HSBC slips as Ping An Insurance calls for improvement in returns.
Benchmark index hit the lowest since mid-May amid concerns about weak earnings and US rate trajectory. Investors betting on Chinese onshore stocks have taken a 15 per cent beating this year.
Hansoh Pharmaceutical, founded by China’s sixth richest woman, rose with two other new members, before officially joining the benchmark index on September 5. Chow Tai Fook Jewellery surrendered gain.
New Covid-19 cases and a looming energy crisis in mainland China are unsettling the market.
The Hang Seng Index compiler will add four stocks to the benchmark gauge from September 5, boosting its capitalisation by US$88.7 billion.
‘Positive vibes’ from Beijing indicate more support on the infrastructure and lending fronts, which could have a ‘multiplier effect on boosting consumption’ and Chinese equities in the second half, says Abel Lim of UOB.
The Chinese government’s planned support for some mainland developers to issue yuan-denominated bonds boosts sentiment in the crisis-hit sector.
The value of Temasek’s holdings in US-listed stocks dwindled by US$5.6 billion amid sales and value erosion, the most since the final quarter of 2004, US filings show.
Meituan sank by 9.1 per cent on report Tencent was considering selling part or all of its 17 per cent stake to appease Chinese regulators. Some developers surged on optimism of state financial support.
Ray Dalio’s giant hedge fund completely exited the five US-listed Chinese tech companies last quarter amid delisting risk and heightened geopolitical tensions.