Cheryl Heng

Hong Kong

Cheryl Heng

Reporter, Business

Cheryl joined the Post in 2020 after graduating from the Wee Kim Wee School of Communication and Information in Singapore. Prior to this, she was an intern at Shanghai Daily on the features desk.

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Latest from Cheryl Heng

BYD stock plunges after Buffett’s Berkshire trims stake in China’s biggest electric-car maker

BYD plunges in Hong Kong trading after a filing shows Berkshire Hathaway trimmed its stake in the EV maker by about US$47 million.

BYD plunges in Hong Kong trading after a filing shows Berkshire Hathaway trimmed its stake in the EV maker by about US$47 million.

31 Aug 2022 - 4:29PM
US-China audit deal: good news for markets, not so for bourse operator HKEX, Morgan Stanley says

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.

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.

30 Aug 2022 - 6:02PM
Goldman Sachs: odds of Chinese firms being booted off US exchanges down by almost half since March following audit data agreement

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.

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.

29 Aug 2022 - 2:10PM
Analysts turn less bullish on XPeng and Chinese Tesla challengers as Covid, heatwave, power crisis undermine EV sales

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.

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.

29 Aug 2022 - 10:30AM
Alibaba, Meituan, BYD add to Hong Kong stock rally amid reports on progress in China-US audit plan to fend off delistings

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.

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.

26 Aug 2022 - 4:36PM
Chinese stocks waver as policy measures fail to overcome concerns about housing and power crisis

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.

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.

25 Aug 2022 - 10:50AM
JD.com, Alibaba, CNOOC power best stock rally since April as China dangles fresh stimulus, US delisting speculation returns

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.

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.

25 Aug 2022 - 5:02PM
Housing slump threatens ‘China Dream’ while geopolitics make Chinese assets ‘only selectively investable’ for Morgan Stanley fund managers

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’.

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’.

24 Aug 2022 - 2:01PM
Hong Kong stocks hit 5-month low as Alibaba slides while Geely and BYD pace losses in EV makers on China slowdown

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.

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.

24 Aug 2022 - 4:35PM
Ping An, Meituan, Geely drag Hang Seng to 3-month low as poor earnings outlook, recession fears overcome China bets

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.

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.

23 Aug 2022 - 4:34PM
Chinese billionaire behind Hansoh Pharmaceutical enriched as Hang Seng Index review fuels rally among new elite members

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.

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.

22 Aug 2022 - 4:51PM
Hong Kong stocks drop on jitters over Covid-19 outbreaks, Sichuan power crisis despite China rate cuts

New Covid-19 cases and a looming energy crisis in mainland China are unsettling the market.

New Covid-19 cases and a looming energy crisis in mainland China are unsettling the market.

22 Aug 2022 - 4:40PM
Baidu, Shenhua Energy included in Hang Seng Index quarterly revamp as benchmark coverage expands to 73 stocks

The Hang Seng Index compiler will add four stocks to the benchmark gauge from September 5, boosting its capitalisation by US$88.7 billion.

The Hang Seng Index compiler will add four stocks to the benchmark gauge from September 5, boosting its capitalisation by US$88.7 billion.

19 Aug 2022 - 9:31PM
Chinese movie studio Bona Film gets US$1.5 billion valuation in Shenzhen debut, six years after leaving Nasdaq

Stock surged by the maximum limit of 44 per cent on the first day of trading in Shenzhen, ending a six-year wait to relist at home since leaving Nasdaq in 2016.

Stock surged by the maximum limit of 44 per cent on the first day of trading in Shenzhen, ending a six-year wait to relist at home since leaving Nasdaq in 2016.

18 Aug 2022 - 4:05PM
Singapore’s UOB sees Chinese stocks outperforming in the second half as Beijing moves to support economy

‘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.

‘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.

18 Aug 2022 - 1:10PM
Sea, owner of Shopee e-commerce platform, reports wider loss after Tencent cuts stake, Temasek and Bridgewater jump in

The owner of Shopee online shopping platform is facing multiple headwinds after losses widened. As Tencent retreated, other investors including Temasek bought more shares.

The owner of Shopee online shopping platform is facing multiple headwinds after losses widened. As Tencent retreated, other investors including Temasek bought more shares.

17 Aug 2022 - 5:43PM
Chinese property developers surge in Hong Kong amid reports of government backing for onshore bonds

The Chinese government’s planned support for some mainland developers to issue yuan-denominated bonds boosts sentiment in the crisis-hit sector.

The Chinese government’s planned support for some mainland developers to issue yuan-denominated bonds boosts sentiment in the crisis-hit sector.

16 Aug 2022 - 5:22PM
Singapore’s Temasek stock bets shrink by US$5.6 billion, the most in 17 years, amid Fed hikes and recession fears

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.

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.

17 Aug 2022 - 2:16PM
Hong Kong stocks slammed by Meituan on Tencent divestment report, while developers surge on state financial backing

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.

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.

16 Aug 2022 - 4:47PM
Dalio’s Bridgewater exits Alibaba, JD.com, NetEase, Bilibili and Didi Global in US$1 billion sale amid delisting and geopolitical tensions

Ray Dalio’s giant hedge fund completely exited the five US-listed Chinese tech companies last quarter amid delisting risk and heightened geopolitical tensions.

Ray Dalio’s giant hedge fund completely exited the five US-listed Chinese tech companies last quarter amid delisting risk and heightened geopolitical tensions.

12 Aug 2022 - 2:08PM
Hong Kong stocks gain as Alibaba, JD.com lead tech group before fresh reports signalling better China economic health

The Hang Seng Index rose, adding to its best gain in three weeks a day earlier. Government reports next week may show better signs on China’s economic health, according to consensus estimates.

The Hang Seng Index rose, adding to its best gain in three weeks a day earlier. Government reports next week may show better signs on China’s economic health, according to consensus estimates.

12 Aug 2022 - 4:48PM
Hong Kong stocks jump by most in three weeks as lower-than-expected US inflation eases rate-hike fears

The Hang Seng Index rose 2.4 per cent, shaking off three days of losses as lower-than-forecasted US inflation lessened pressure on the US Federal Reserve to further tighten monetary policy.

The Hang Seng Index rose 2.4 per cent, shaking off three days of losses as lower-than-forecasted US inflation lessened pressure on the US Federal Reserve to further tighten monetary policy.

11 Aug 2022 - 8:12PM
Hang Seng slumps below 20,000 with JD.com, Alibaba pacing losses as China reports faster inflation, heightened tech rivalry

Inflation accelerated by the fastest in two years last month, denting bets for further monetary stimulus in China. Tech stocks slumped amid growing US rivalry before a US inflation report.

Inflation accelerated by the fastest in two years last month, denting bets for further monetary stimulus in China. Tech stocks slumped amid growing US rivalry before a US inflation report.

10 Aug 2022 - 4:47PM
Cathay Pacific investors ride ‘full recovery’ in US$3.1 billion post-pandemic stock rebound as HSBC, Credit Suisse predict more upside

Cathay Pacific likely became profitable last month, a boon for the city’s government as it waits to collect bailout dividends. The stock’s advance this year has outpaced every Hang Seng Index member bar one.

Cathay Pacific likely became profitable last month, a boon for the city’s government as it waits to collect bailout dividends. The stock’s advance this year has outpaced every Hang Seng Index member bar one.

10 Aug 2022 - 4:51PM
Hang Seng slips toward 20,000 level as Hong Kong denies property tax waiver, tech stocks slide amid lockdown, Taiwan risks

Hong Kong’s benchmark index slipped toward a psychological level as tech stocks retreated while confusion plagued property developers over reports on tax waiver for home purchases.

Hong Kong’s benchmark index slipped toward a psychological level as tech stocks retreated while confusion plagued property developers over reports on tax waiver for home purchases.

9 Aug 2022 - 5:00PM
Hong Kong stocks slip as Alibaba, Tencent and Anta lead losses amid new China lockdowns, Fed tightening focus

Stocks slipped amid concerns about more lockdowns in mainland China. The latest in southern Hainan province added to existing risks from Taiwan issues and US rate increases.

Stocks slipped amid concerns about more lockdowns in mainland China. The latest in southern Hainan province added to existing risks from Taiwan issues and US rate increases.

8 Aug 2022 - 4:39PM
BYD, CATL and Kweichow Moutai among biggest losers as offshore investors dumped US$3.1 billion worth of Chinese stocks in July

Offshore investors dumped US$3.1 billion worth of mainland Chinese stocks in July, turning net sellers for the first time since March, according to exchange data.

Offshore investors dumped US$3.1 billion worth of mainland Chinese stocks in July, turning net sellers for the first time since March, according to exchange data.

5 Aug 2022 - 5:01PM
Chinese stocks get cheaper for money managers who don’t want to be late for economy reopening party

Investors waiting for additional signs before turning more positive risk being late to the party ‘because markets are pre-emptive’, Robeco says

Investors waiting for additional signs before turning more positive risk being late to the party ‘because markets are pre-emptive’, Robeco says

2 Aug 2022 - 3:35PM
Alibaba, Meituan, Tencent sink Hong Kong stocks on regulatory pressure while China sticks to zero-Covid, slow-drip stimulus

Local stocks slumped into a technical correction with July’s setback the worst month in a year. Big Tech from Alibaba to Meituan suffered from renewed regulatory concerns while China offered no major stimulus at a key meeting this week.

Local stocks slumped into a technical correction with July’s setback the worst month in a year. Big Tech from Alibaba to Meituan suffered from renewed regulatory concerns while China offered no major stimulus at a key meeting this week.

29 Jul 2022 - 5:32PM
Alibaba, Meituan are top picks at Daiwa in sector upgrade as internet stocks to benefit most from China stimulus

Daiwa upgraded tech platforms traded on Hong Kong’s markets to overweight from neutral, with Alibaba and Meituan, a food delivery service, being their picks for the sector.

Daiwa upgraded tech platforms traded on Hong Kong’s markets to overweight from neutral, with Alibaba and Meituan, a food delivery service, being their picks for the sector.

28 Jul 2022 - 11:00AM