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Yulu Ao
Reporter, Business
Yulu Ao joined SCMP in 2022 as a business reporter. She previously covered business trends across the Greater Bay Area with topics including financial market, healthcare, aviation, etc. She holds a master's degree in journalism from the University of Hong Kong. Before moving to Hong Kong, she interned in different roles at several news agencies in mainland China.
Yulu Ao joined SCMP in 2022 as a business reporter. She previously covered business trends across the Greater Bay Area with topics including financial market, healthcare, aviation, etc. She holds a master's degree in journalism from the University of Hong Kong. Before moving to Hong Kong, she interned in different roles at several news agencies in mainland China.
Areas of Expertise:
Property, Financial MarketsLanguages Spoken:
English, Mandarin
After four subdued years, the cornerstone investors that anchor Hong Kong’s IPO market are returning in force, reshaping the deal landscape.
American investors bought US$15 billion of Hong Kong and mainland stocks in 2025, as buying picked up steam through the year.
Tech heavyweights drag Hong Kong stocks lower as investors fret over AI disruption following Wall Street’s decline.
‘China and Hong Kong are the biggest beneficiaries’ of US court decision on tariffs, Goldman Sachs strategists and economists say.
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Tech heavyweights Alibaba, Baidu and Kuaishou drop as trading commences in the Year of the Horse.
As market closes for Lunar New Year, benchmark hits 32 per cent gain since the Year of the Snake began in January 2025.
Return to mainland equities bends towards start-ups and ETFs, versus earlier focus on bellwether, large-cap names.
Issuance could approach US$140 billion as a firmer renminbi, low funding costs and policy support boost demand for offshore notes.
Approaching Lunar New Year holiday also dampens investors’ enthusiasm for technology stocks, analyst says.
Southbound net inflows reflect investor optimism about Hong Kong stocks after the holiday, analyst says.
Traders move on to focus on coming US economic data that could reshape the path to monetary easing by the Federal Reserve.
Markets swing sharply across asset classes as AI forces a rethink of pricing power and long-term growth bets.
Hang Seng Index follows US declines as AI worries and falling prices for gold, silver and cryptocurrency rattle investors.
In a move designed to steady investor nerves, Baidu signalled a shift towards more predictable payouts as AI spending continues to rise.
Southbound Stock Connect inflows provide late-session support, helping the benchmark reverse earlier losses.
But other markets like South Korea could offer stronger near-term returns for international investors, J.P. Morgan Private Bank says.
‘Broader VAT hikes on private services are unlikely in 2026 and would run counter to reflation efforts,’ Morgan Stanley says.
Baidu, Kuaishou among internet stocks losing ground amid rumours regulators may adjust value-added taxes on the sector.
Telecommunications firms drop after Chinese authorities raise value-added taxes, denting profit expectations.
CEO Wang Ning reveals firm’s latest expansion plan at Friday’s closed-door meeting with UK Prime Minister Keir Starmer.
Despite the setback, the Hang Seng Index is set for its best monthly performance since September 2025.
Zijin, CNOOC, PetroChina, Longfor and China Overseas Land lift Hang Seng Index from early slump.
Busy Ming Group, China’s largest snack and drinks retailer, gains 69 per cent on its Hong Kong debut.
Profit at China’s industrial firms rose 5.3 per cent year on year in December, versus a drop of more than 13 per cent in November.
Gold crosses US$5,000 for the first time amid mounting geopolitical uncertainty and growing investor aversion to major currencies.
Pop Mart CEO’s rare state media remarks and a hit collectible boost shares as China’s consumer stocks gain momentum.
The move is aimed at strengthening the links between the futures, spot and derivatives markets for non-ferrous metals and Shanghai’s role.
CSRC signals it wants a slower but longer stock market rally after trading volumes and margin financing hit record highs.
Hang Seng Index retreats despite TSMC’s earnings outlook bolstering confidence in AI-related demand and lifting risk appetite globally.
