The decision was based on ‘public interest concerns’ over fabricated transactions recently disclosed by Luckin Coffee, as well as its past failures to publicly disclose information.
Hong Kong’s securities regulator has said it will not take action on HSBC’s decision to scrap its dividend payment this year, after protests by the bank’s shareholders.
The suitcase brand, which owns the likes of Tumi and American Tourister, lost US$787.3 million in the first three months of 2020 as the world went into lockdown to stem the spread of coronavirus
Luckin Coffee, often viewed as China’s answer to Starbucks, has fired its chief executive and chief operating officer in the wake of an internal investigation into fabricated transactions.
Frustration is giving way to optimism for global companies in their long-running fights against intellectual property theft in China. Recent New Balance and Spin Master court awards are cementing the new push, lawyers say.
Smithfield Foods, a US unit of China’s biggest pork company, has reopened its processing facility despite a coronavirus outbreak in meat plants across America.
Mulberry Group, the UK’s largest leather goods producer, is focusing international efforts on Asia with an online push to capture high-spenders especially among Chinese consumers.
Cargo transport firm Chu Kong Shipping Enterprises pays HK$232.8 million (US$30 million) for a 60 per cent stake in New World First Ferry Services.
The coronavirus pandemic is shining a spotlight on sustainability practises as companies with high ESG scores outperform the broader market and attract more fund inflows.
Thomas Hui To, COO of mainland Chinese tycoon Li Ruigang’s China Media Capital, has become non-executive chairman of Television Broadcasts in the latest move that signals Li’s increasing influence at the city’s struggling free-to-air broadcaster
The Hong Kong-listed fashion house says it will close 56 shops in Singapore, Malaysia, Taiwan, Hong Kong and Macau by June 30, and is ‘winding down’ in China.
New Balance’s win comes after former NBA star Michael Jordan won a copyright infringement case, indicating China is serious on protecting intellectual property.
Japan’s Nippon Paint and Corning of the US have developed a coating designed for use in hospitals that can repel viruses and bacteria, which could be useful for protecting frontline medical workers during pandemics.
The fundraising comes even as air traffic has plunged in the wake of the coronavirus pandemic. Funding costs have also risen for banks in Greater China amid a global dollar liquidity squeeze.
Investors seeking to pick up bargains from China’s biggest stock market pullback since 2018 may be facing a value and liquidity trap as the first quarter earnings season kicks off.
Company’s stock plunges to its lowest-ever share price on Monday in New York.
The company’s turnover was inflated by about US$309 million between the second quarter and the fourth quarter of 2019, Luckin said. Shares plummeted to a record low, 68 per cent below its initial offering price last May.
Tycoon Group has launched its stock offering in Hong Kong after adding “anti-epidemic” products to its portfolio of skincare and health supplements amid the viral outbreak.
About one third of the world’s population is under lockdown. All major stock markets except for China’s are in bear markets, as investors worry the ‘kitchen sink’ so far thrown at the virus isn’t enough.
Spain now joins Italy in having more coronavirus deaths than China. Analysts say a bottom has not been reached in Hong Kong, which saw back-to-back daily gains on Wednesday for the first time in five weeks.
In second straight day of gains in Hong Kong, Tencent advances 4.2 per cent, while pork processor WH Group soars nearly 12 per cent.
The US Congress is close to a deal over a relief package that has been valued between US$1.8 trillion and US$2.5 trillion. Meanwhile, the Fed vowed unlimited bond buying.
Overnight, US Fed announced unlimited bond buying, among other steps. That sparked bargain buying of virus-hammered stocks in Hong Kong and elsewhere in Asia.
US markets drop despite Fed announcing new steps to bolster economy, as new cases surge and stimulus package delayed.
Lockdowns in the US aimed at the coronavirus will likely last 10 to 12 weeks -- to about early June -- U.S. Treasury secretary Steven Mnuchin told Fox News Sunday. “The good news is the US economy is strong,” he said.
Volatility is demanding nerves of steel. Hong Kong has seen five 900-point drops since mid-January, when the threat of the coronavirus crisis became clear. On Friday, it soared more than 1,000 points in its biggest jump in nearly a decade.
Hong Kong’s Fung family and Singapore’s GLP Group have made a HK$7.2 billion offer to privatise 114-year-old global merchandise supply chain manager Li & Fung at a price premium of 150 per cent.
Net profit of €255.7 million for 2019 beats analysts’ estimates of €255.2 million even after Asia-Pacific sales were hit because of months of social unrest in Hong Kong.
Tencent Holdings could be one of its online game characters – its shares clawed their way out of a scary stock market dungeon, took a quick run uphill during the coronavirus lockdown in China, and recently were knocked down by the global market upheaval.
The Hongkong and Shanghai Hotels, which owns and operates Peninsula hotels globally, said on Tuesday it faced an operating loss in the first quarter of 2020, as the Covid-19 outbreak brings global tourism to a grinding halt.
