The company, one of China’s largest private-sector conglomerates, aims to cut its debts by 10 billion yuan (US$1.38 billion) annually in the next two to three years.
Hong Kong markets close little changed, surrendering gains posted after Shanghai relaxed property sector curbs and on the back of a semiconductor investment fund.
Hotels in mainland China will need to raise their performance and returns to succeed as real estate investment trusts, according to JLL. A 4 per cent annual return will be favoured by regulators and investors.
The liquidators of China Evergrande reached an initial agreement on May 16 to sell a 29 per cent stake in Evergrande NEV to an unidentified buyer, according to an exchange statement.
Meituan, Tencent, NetEase and PDD Holdings are potential candidates to sell convertibles, according to UOB Kay Hian analyst Julia Pan.
Hong Kong stocks rally after data showed China’s industrial profits resumed growth in April.
Only 1 per cent of large-cap Hong Kong-listed firms in the MSCI AC Asia-Pacific IMI index have set greenhouse gas reduction targets considered ‘fully’ credible, less than the regional average.
The latest government measures are merely ‘a drop in the ocean’, and rebuilding homebuyers’ confidence in the presale system is a precondition for any revival, analysts say.
In Southeast Asia, Chinese EV builders from established giants like BYD and Great Wall to start-ups such as Hozon are offering discounts in a bid to take on Japanese rivals whose petrol cars dominate the market.
The expansion has been driven by a stellar run in the bond market and a stabilisation in stocks, as investors shift to fund products.
The acquisition ‘vertically integrates the energy supplier and key end-user’, Hans Energy CEO Yang Dong says, adding that its ‘strategic development of the hydrogen industry’ aligns with Citybus’s net-zero emissions goal.
Hong Kong stocks fell for a fourth straight day and capped their biggest weekly loss since January, with a lack of positive earnings surprises and waning rate cut hopes adding to the gloom.
Hong Kong’s mandatory retirement fund put in its best performance in seven years in the first five months of 2024, though members who shifted their cash from Hong Kong and China equities to US stock funds have missed out.
A stock market rally in Hong Kong has helped raise valuations and improve sentiment among investors, feeding a recovery in fundraising activities in the city and on bourses in mainland China, JPMorgan says.
China’s securities regulators and stock exchange officials met with global fund managers in Europe in the first overseas roadshow, after delivering a major stimulus to rescue the nation’s property market.
High dividend stocks may extend their outperformance, driven by haven-seeking investors in an uncertain economic environment, analysts say.
Hong Kong stocks fall to two-week low as correction deepened after hawkish comments from US Federal Reserve officials.
Growing scepticism and a lack of trust in the performance of ESG investments are the ‘top barrier’ for Asian investors, according to a study by AXA Investment Managers.
Nio’s battery-swapping technology is gaining a huge supporter in state-owned FAW Group as both pledge to set industry standards and ease concerns about drivers about EV driving range.
Investors will need to see more positive signals from the market before calling a stabilisation, US bank says, as expectations of declining prices and shrinking incomes, plus jitters about home delivery will continue to keep homebuyers at bay.
Their allocation to developed-market bonds increased by the most in five years to 16 per cent, bringing back a greater balance between fixed income and equities, according to a global survey by the Swiss bank.