https://www.scmp.com/rss/510334/feed Born in Australia, Mia graduated from the University of Sydney with a Bachelor of Arts in Media and Communications and Chinese Studies. She previously worked at various local media including the Sydney Morning Herald, before joining the Post as a graduate trainee in 2021. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Leopold Chen,Mia Castagnone Leopold Chen,Mia Castagnone Xiaomi’s market value breached HK$1 trillion (US$128.4 billion) for the first time after its shares surged to an all-time high, as China’s third-biggest smartphone maker reaps the benefits from its diversification into electric-vehicle (EV) manufacturing. The company’s shares rose as much as 5.7 per cent to HK$40.10 in Hong Kong on Tuesday, lifting its underlying capitalisation above the trillion-dollar threshold. They ended at HK$39.55 at the close of trading, trimming its value to HK$992.9... https://www.scmp.com/business/article/3297336/xiaomi-market-value-tops-hk1-trillion-amid-bullish-view-ev-business?utm_source=rss_feed https://www.scmp.com/business/article/3297336/xiaomi-market-value-tops-hk1-trillion-amid-bullish-view-ev-business?utm_source=rss_feed Tue, 04 Feb 2025 10:31:18 +0000 Mia Castagnone Mia Castagnone Hong Kong’s financial leaders greeted the Year of the Snake with fanfare on Monday, hoping that foreign investors return to the market in greater numbers amid a jittery start to the new year. “I am cautiously positive about the Hong Kong stock market in the Year of the Snake and will be pleased to see it grow,” Financial Secretary Paul Chan Mo-said during a ceremony organised by bourse operator Hong Kong Exchanges and Clearing (HKEX) to mark the first trading day of the Lunar New Year. “With... https://www.scmp.com/business/markets/article/3297141/hong-kong-stock-market-seeks-maintain-impetus-year-snake?utm_source=rss_feed https://www.scmp.com/business/markets/article/3297141/hong-kong-stock-market-seeks-maintain-impetus-year-snake?utm_source=rss_feed Mon, 03 Feb 2025 06:32:34 +0000 Mia Castagnone Mia Castagnone Hong Kong tycoon Richard Li Tzar-kai is reshuffling his assets again, this time by selling his personal interest in the publisher of Hong Kong Economic Journal (HKEJ) to telecommunications group PCCW for HK$70 million (US$9 million). PCCW, in which Li controls a 31.8 per cent stake, will buy the HKEJ’s publisher Clermont Media from an offshore trust company in which he is the settlor, according to a stock exchange filing on Tuesday. Li expects to capitalise an undisclosed amount of his loans to... https://www.scmp.com/business/companies/article/3296618/tycoon-richard-li-sell-hkej-publisher-pccw-us9-million-asset-reshuffle?utm_source=rss_feed https://www.scmp.com/business/companies/article/3296618/tycoon-richard-li-sell-hkej-publisher-pccw-us9-million-asset-reshuffle?utm_source=rss_feed Tue, 28 Jan 2025 11:07:16 +0000 Mia Castagnone Mia Castagnone DeepSeek, a little-known Chinese start-up whose affordable technology matches the likes of the most formidable American tech titans such as OpenAI and Meta Platforms, has raised investor concerns over the necessity of pouring billions of dollars into research and development. The Chinese artificial intelligence (AI) company released its open-source reasoning model, R1, earlier this month. The model’s capabilities roughly match those of advanced models from OpenAI, Anthropic, and Google while... https://www.scmp.com/business/china-business/article/3296562/deepseek-breakthrough-raises-investor-concerns-over-need-massive-ai-spending?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3296562/deepseek-breakthrough-raises-investor-concerns-over-need-massive-ai-spending?utm_source=rss_feed Tue, 28 Jan 2025 05:51:33 +0000 Mia Castagnone Mia Castagnone Hong Kong’s markets watchdog has fined Hang Seng Bank HK$66.4 million (US$8.5 million) for regulatory failures and overcharging clients. The Securities and Futures Commission (SFC) said on Monday there were serious regulatory failures on the part of the bank regarding the sale of collective investment schemes (CIS) and derivative products and charging its clients excessive fees between February 2014 and May 2023. Hang Seng Bank made at least HK$22.4 million in excess fees from these... https://www.scmp.com/business/banking-finance/article/3296492/hong-kongs-sfc-fines-hang-seng-bank-us85-million-misconduct?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3296492/hong-kongs-sfc-fines-hang-seng-bank-us85-million-misconduct?utm_source=rss_feed Mon, 27 Jan 2025 12:56:18 +0000 Mia Castagnone Mia Castagnone Hong Kong stocks rose, tracking a rally on Wall Street that sent a benchmark index to a record high, and the prospect of warmer US-China relations following US President Donald Trump’s speech to the World Economic Forum further aided sentiment. The Hang Seng Index jumped 1.9 per cent to 20,066.19 on Friday, ending higher for a second week with gains of 1.3 per cent for the five-day period. The Hang Seng Tech Index surged 3.2 per cent. On the mainland, the CSI 300 Index was up 0.8 per cent, while... https://www.scmp.com/business/markets/article/3296057/hong-kong-stocks-rise-trumps-china-optimism-and-wall-street-rally?utm_source=rss_feed https://www.scmp.com/business/markets/article/3296057/hong-kong-stocks-rise-trumps-china-optimism-and-wall-street-rally?utm_source=rss_feed Fri, 24 Jan 2025 03:00:10 +0000 Hong Kong stocks fell after China’s action plan to boost the nation’s markets through long-term investments failed to impress investors, while the threat of tariffs from US President Donald Trump also weighed on sentiment. The Hang Seng Index fell 0.4 per cent to 19,700.56 at the close on Thursday, after rising as much as 1.3 per cent earlier. The Hang Seng Tech Index dropped 1.4 per cent, reversing gains of as much as 1.7 per cent. On the mainland, the CSI 300 Index was up 0.2 per cent, after... https://www.scmp.com/business/banking-finance/article/3295887/hong-kong-stocks-rise-chinas-plan-boost-onshore-markets-counter-trump-tariffs?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3295887/hong-kong-stocks-rise-chinas-plan-boost-onshore-markets-counter-trump-tariffs?utm_source=rss_feed Thu, 23 Jan 2025 02:25:14 +0000 Mia Castagnone Mia Castagnone Hong Kong stocks fell, snapping a six-day winning streak on broad losses among technology companies as the US unveiled a major artificial intelligence (AI) initiative. The Hang Seng Index fell 1.6 per cent to 19,778.77 at the close, while the Hang Seng Tech Index lost 2.4 per cent. On the mainland, the CSI 300 Index dropped 0.9 per cent, and the Shanghai Composite Index fell 0.9 per cent. E-commerce giant JD.com plunged 4.3 per cent to HK$151.60, while video-sharing platform Bilibili dropped 6.4... https://www.scmp.com/business/banking-finance/article/3295731/tech-stocks-lead-hong-kong-decline-threatening-6-day-winning-streak?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3295731/tech-stocks-lead-hong-kong-decline-threatening-6-day-winning-streak?utm_source=rss_feed Wed, 22 Jan 2025 02:22:34 +0000 Mia Castagnone Mia Castagnone Hong Kong stocks rose after US President Donald Trump held off on imposing tariffs on Chinese exports promised during his election campaign, but threatened significant tariffs if Beijing failed to approve a TikTok deal. The Hang Seng Index gained 0.9 per cent to 20,106.55 at the close on Tuesday, while the Hang Seng Tech Index added 2.1 per cent. On the mainland, the CSI 300 Index rose 0.1 per cent and the Shanghai Composite Index fell 0.1 per cent. China’s biggest chipmaker Semiconductor... https://www.scmp.com/business/banking-finance/article/3295576/hong-kong-stock-gains-curbed-trump-threatens-china-tariffs-tiktok-deal?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3295576/hong-kong-stock-gains-curbed-trump-threatens-china-tariffs-tiktok-deal?utm_source=rss_feed Tue, 21 Jan 2025 02:53:58 +0000 Mia Castagnone Mia Castagnone Hong Kong stocks jumped on optimism over US-China relations, following a positive phone call between Chinese President Xi Jinping and US president-elect Donald Trump. The Hang Seng Index closed 1.8 per cent higher at 19,925.81 on Monday, after rising as much as 2.6 per cent in intraday trading. On the mainland, the CSI 300 Index climbed 0.5 per cent, while the Shanghai Composite Index rose marginally. Tech stocks surged, with the Hang Seng Tech Index gaining 2.6 per cent. Leading the pack was... https://www.scmp.com/business/banking-finance/article/3295417/hong-kong-stocks-rise-positive-talks-between-trump-and-xi?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3295417/hong-kong-stocks-rise-positive-talks-between-trump-and-xi?utm_source=rss_feed Mon, 20 Jan 2025 02:29:24 +0000 Mia Castagnone Mia Castagnone The Securities and Futures Commission (SFC) and Hong Kong’s stock exchange have taken disciplinary action against a Chinese gaming company and its former directors for misconduct that resulted in more than HK$660 million (US$85 million) in losses. The former directors of FingerTango, a Guangzhou-based mobile video gaming company, face disciplinary actions for misconduct and breach of duty from the SFC and the exchange over the misuse of listing proceeds after the company went public in... https://www.scmp.com/business/banking-finance/article/3295084/sfc-stock-exchange-take-disciplinary-action-against-fingertango-chinese-gaming-company?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3295084/sfc-stock-exchange-take-disciplinary-action-against-fingertango-chinese-gaming-company?utm_source=rss_feed Thu, 16 Jan 2025 13:39:24 +0000 Mia Castagnone Mia Castagnone Indonesia’s growing economy, coupled with a multilingual workforce and vast business opportunities over an archipelago of 15,000 islands, is a magnet for logistics companies from China, according to a leading Chinese courier company. “I can see a lot of potential in terms of supply chain to help Indonesia and support its economic growth,” said Michael Tung, managing director for Hong Kong and Macau at SF Supply Chain, which provides turnkey supply-chain solutions to enterprises. “Indonesia is... https://www.scmp.com/business/china-business/article/3293928/indonesia-hotspot-chinese-companies-logistics-supply-chain-arena-sf-group-says?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3293928/indonesia-hotspot-chinese-companies-logistics-supply-chain-arena-sf-group-says?utm_source=rss_feed Thu, 09 Jan 2025 01:30:14 +0000 Cannix Yau,Mia Castagnone Cannix Yau,Mia Castagnone Hong Kong’s finance chief has pitched the city’s strengths as a capital-raising centre during a charm offensive in Indonesia, but one business lobbying group has warned some firms remain wary of making a commitment due to their unfamiliarity with the financial hub. Financial Secretary Paul Chan Mo-po told government officials and business elites gathered at a symposium in Jakarta on Wednesday that companies in Southeast Asia’s most populous nation should find the city’s capital markets... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3293964/tap-hong-kongs-fundraising-potential-paul-chan-tells-indonesian-business-elites?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3293964/tap-hong-kongs-fundraising-potential-paul-chan-tells-indonesian-business-elites?utm_source=rss_feed Wed, 08 Jan 2025 15:08:32 +0000 Mia Castagnone Mia Castagnone Hong Kong can play a strategic role in supporting Indonesia’s economic growth and encourages the country’s businesses to look to Hong Kong to raise capital and set up treasury centres, Financial Secretary Paul Chan Mo-po said. Companies in Southeast Asia’s most populous nation should find Hong Kong’s capital market an “attractive and advantageous” place for raising funds, due to its unique geographic position near mainland China and the depth of the city’s stock market, Chan said during the... https://www.scmp.com/business/banking-finance/article/3293853/paul-chan-says-hong-kong-advantageous-ipos-overture-indonesian-companies?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3293853/paul-chan-says-hong-kong-advantageous-ipos-overture-indonesian-companies?utm_source=rss_feed Wed, 08 Jan 2025 04:31:43 +0000 Zhang Shidong,Mia Castagnone Zhang Shidong,Mia Castagnone The global investment community is cautious about the outlook for Chinese stocks after a series of policy disappointments last year, with stimulus implementation high on investor agendas as they keep an eye on Beijing’s resolve to spur growth. Investment banks from Morgan Stanley to UBS Group expect considerable stock market volatility. They want Beijing to be more transparent and offer clarity on policies to contend with deflation, potential new US tariffs and a downturn in the property... https://www.scmp.com/business/china-business/article/3293120/reading-tea-leaves-volatile-year-ahead-chinas-market-amid-policy-uncertainty?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3293120/reading-tea-leaves-volatile-year-ahead-chinas-market-amid-policy-uncertainty?utm_source=rss_feed Sat, 04 Jan 2025 02:00:11 +0000 Mia Castagnone,Enoch Yiu Mia Castagnone,Enoch Yiu After a satisfying year for investment bankers in Hong Kong, who helped lift the city back into the top 10 ranking in initial public offerings (IPOs) worldwide, the new year could be merrier as Hong Kong Exchanges and Clearing (HKEX) prepares for more market debutants. Companies and investors raised US$11 billion from 64 first-time stock offerings on the main board, according to data compiled by the London Stock Exchange Group, making it the fifth busiest IPO venue. India’s two main exchanges... https://www.scmp.com/business/banking-finance/article/3292831/better-year-awaits-ipo-bankers-hong-kong-claws-its-way-back-top-10-markets?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3292831/better-year-awaits-ipo-bankers-hong-kong-claws-its-way-back-top-10-markets?utm_source=rss_feed Tue, 31 Dec 2024 04:30:24 +0000 Enoch Yiu,Mia Castagnone Enoch Yiu,Mia Castagnone Hong Kong’s plan to expand tax concessions for single-family offices, along with the rapid growth in the number of wealthy people in China and Asia, will elevate the city’s status as a hub for such investment vehicles, bankers say. In his policy address in October, Chief Executive John Lee Ka-chiu pledged to expand tax concessions for single-family offices. The expansion plan is now being consulted with industry players before a change in law is made. “We are thrilled with the proposed expansion... https://www.scmp.com/business/banking-finance/article/3292069/bankers-say-hong-kongs-new-tax-concessions-boost-citys-status-family-office-hub?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3292069/bankers-say-hong-kongs-new-tax-concessions-boost-citys-status-family-office-hub?utm_source=rss_feed Sun, 29 Dec 2024 23:00:10 +0000 Mia Castagnone Mia Castagnone Relationship managers, customer due diligence officers and data analysts are some of Hong Kong’s hottest jobs in the coming year, according to human resource professionals. In the current business environment, relationship managers will be one of the “hot jobs” in the financial services sector, according to Betty Lam, the head of human resources at DBS Bank in Hong Kong. Outside private banking, relationship managers are also supporting small and medium-sized enterprises. The relationship... https://www.scmp.com/business/banking-finance/article/3291735/hong-kong-employers-look-hire-more-relationship-managers-and-data-analysts-next-year?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3291735/hong-kong-employers-look-hire-more-relationship-managers-and-data-analysts-next-year?utm_source=rss_feed Wed, 25 Dec 2024 00:00:13 +0000 Mia Castagnone Mia Castagnone Retail investors jumped at the chance to invest in Hong Kong actor Roger Kwok’s company, with the initial public offering (IPO) oversubscribed more than 6,000 times, the second-highest on record in the city. Herbs Generation Group, the healthcare products company co-founded by Kwok and his sister, priced its shares at the low end of its range at HK$3.75, resulting in the retail tranche being oversubscribed 6,083 times. The international portion was oversubscribed 0.8 times. Most Kwai Chung,... https://www.scmp.com/business/banking-finance/article/3291445/hong-kong-ipo-actor-roger-kwoks-herbs-generation-jumps-25-debut?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3291445/hong-kong-ipo-actor-roger-kwoks-herbs-generation-jumps-25-debut?utm_source=rss_feed Thu, 19 Dec 2024 02:04:06 +0000 Mia Castagnone Mia Castagnone Plans for Hong Kong share listings by Chinese companies are coming at a faster pace, as autonomous driving start-up Minieye Technology prices its shares and bubble tea giant Guming revives its initial public offering (IPO) plans. Shenzhen-based Minieye will sell 39 million shares in the range of HK$17 to HK$20.20 next week, which would allow it to raise up to HK$783 million (US$100 million), the company said in an exchange filing on Tuesday. Guming, which has roughly 9,000 shops in mainland... https://www.scmp.com/business/banking-finance/article/3291195/chinese-ipos-surge-hong-kong-minieye-guming-line-listings?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3291195/chinese-ipos-surge-hong-kong-minieye-guming-line-listings?utm_source=rss_feed Tue, 17 Dec 2024 09:30:23 +0000 Mia Castagnone Mia Castagnone HSBC’s Australian unit is being sued by the country’s securities watchdog agency for failing to protect local customers from scams, resulting in A$23 million (US$14.65 million) of losses. The Australian Securities and Investment Commission (ASIC) lodged a claim against HSBC Bank Australia in the Australian federal court on Monday in relation to 950 reports totalling A$23 million over a five-year period from January 2020 to August 2024. Scams have picked up in recent years, as nearly 70 per cent... https://www.scmp.com/business/banking-finance/article/3290933/australian-regulator-takes-hsbcs-unit-task-failing-protect-customers-scams?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3290933/australian-regulator-takes-hsbcs-unit-task-failing-protect-customers-scams?utm_source=rss_feed Mon, 16 Dec 2024 03:28:30 +0000 Mia Castagnone,Zhang Shidong Mia Castagnone,Zhang Shidong Shanghai-listed Foshan Haitian Flavoring & Food, the biggest listed condiment maker in mainland China, is seeking a dual listing in Hong Kong that could raise as much as HK$1.5 billion (US$193 million). The soy sauce maker said in a filing to the Shanghai Stock Exchange on Thursday that its board had approved plans to raise funds for its global expansion. The proceeds can help promote the brand globally and “enhance the international brand image and competitiveness”, the statement said. Foshan... https://www.scmp.com/business/china-business/article/3290537/hong-kong-ipo-chinese-soy-sauce-maker-foshan-haitian-eyes-dual-listing?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3290537/hong-kong-ipo-chinese-soy-sauce-maker-foshan-haitian-eyes-dual-listing?utm_source=rss_feed Thu, 12 Dec 2024 10:13:27 +0000 Mia Castagnone Mia Castagnone More than half of luxury consumers in mainland China plan to increase spending on such items over the next 12 months and are looking for domestic brands that are “more relevant” to their tastes, according to a report released Thursday. Shoppers have an increasing appetite for luxury experiences and lifestyle products, in addition to tangible luxury goods, according to Simon Tye, the CEO of MDRi, which published its annual luxury report. “Chinese shoppers want to spend more among all the... https://www.scmp.com/business/china-business/article/3290429/more-half-mainland-chinese-luxury-consumers-plan-increase-spending-report?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3290429/more-half-mainland-chinese-luxury-consumers-plan-increase-spending-report?utm_source=rss_feed Thu, 12 Dec 2024 06:30:10 +0000 Initial public offerings (IPOs) in Hong Kong are bouncing back, shaking off a slow start to the year as more Chinese companies turned to the city to raise capital and global investors grew bullish after Beijing pledged to rescue the nation’s stock and property market. Fundraising reached HK$83.4 billion (US$10.7 billion) this year through November 30, according to data compiled by EY, an increase of 80 per cent from a year earlier. The local IPO market slumped for a third straight year in 2023... https://www.scmp.com/business/banking-finance/article/3290334/hong-kongs-ipo-market-end-3-year-slump-amid-china-support-rising-confidence?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3290334/hong-kongs-ipo-market-end-3-year-slump-amid-china-support-rising-confidence?utm_source=rss_feed Wed, 11 Dec 2024 09:30:08 +0000 Mia Castagnone Mia Castagnone Chinese cosmetics firm Mao Geping made a blistering trading debut in Hong Kong after its HK$2.34 billion (US$300 million) offering, with the city’s initial public offering (IPO) market poised to end the year on a high. Trading under the 1318 code, Mao Geping’s shares rose by as much as 70 per cent to HK$51 at the open on Tuesday. They reached as high as HK$55.80. Its shares ended the day up 77 per cent to HK$52.60, while the benchmark Hang Seng Index slipped 0.5 per cent. The opening price... https://www.scmp.com/business/china-business/article/3290081/hong-kong-ipo-mao-geping-shines-debut-shares-surge-70?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3290081/hong-kong-ipo-mao-geping-shines-debut-shares-surge-70?utm_source=rss_feed Tue, 10 Dec 2024 01:51:48 +0000 Mia Castagnone Mia Castagnone Chinese cosmetics giant Mao Geping priced its shares at the top end of an indicated range, as it aims to raise US$270 million in a Hong Kong initial public offering (IPO), which was oversubscribed more than 700 times. The company is selling 70.6 million shares in its IPO, which is set to launch on Tuesday. China International Capital Corporation is its sponsor. The shares were priced at HK$29.80, according to exchange filings on Monday. The IPO attracted an overwhelming response from retail... https://www.scmp.com/business/banking-finance/article/3289971/chinese-cosmetics-firm-mao-geping-prices-shares-top-end-range-ahead-hong-kong-ipo?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3289971/chinese-cosmetics-firm-mao-geping-prices-shares-top-end-range-ahead-hong-kong-ipo?utm_source=rss_feed Mon, 09 Dec 2024 06:41:19 +0000 Hong Kong must grow and nurture its pool of talent in the insurance industry to compete with other financial centres like Singapore and Dubai as businesses become increasingly digitalised, executives said. Edward Moncreiffe, the CEO of global insurance at HSBC, said the city should focus on improving its physical and digital infrastructure, regulation and language skills if it wants to remain a global financial centre. This will ensure people with good services can come in and do business in... https://www.scmp.com/business/banking-finance/article/3289387/hong-kong-needs-nurture-insurance-talent-rival-singapore-and-dubai-ceos-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3289387/hong-kong-needs-nurture-insurance-talent-rival-singapore-and-dubai-ceos-say?utm_source=rss_feed Wed, 04 Dec 2024 13:00:18 +0000 Mia Castagnone,Cheryl Arcibal Mia Castagnone,Cheryl Arcibal The “unexpected” appointment of Echo Huang Shaomei as the new CEO of New World Development (NWD) has raised concerns about whether she is the right person to lead one of Hong Kong’s most leveraged developers out of a tight spot. Analysts have serious doubts about the situation NWD currently finds itself in, including Huang’s leadership track record, as well as NWD’s corporate governance, noncore divestments and lack of details about the latest management reshuffle. “The latest change could... https://www.scmp.com/business/companies/article/3288986/new-world-ceo-huang-has-task-cut-out-set-hong-kong-developers-house-order?utm_source=rss_feed https://www.scmp.com/business/companies/article/3288986/new-world-ceo-huang-has-task-cut-out-set-hong-kong-developers-house-order?utm_source=rss_feed Mon, 02 Dec 2024 23:30:08 +0000 Mia Castagnone Mia Castagnone Mao Geping Cosmetics, founded by one of the most famous make-up artists in China, aims to raise HK$2.1 billion (US$270 million) next week in the city’s first share listing by a Chinese beauty brand. The make-up pioneer has been a strong contributor to the rising popularity of so-called C-beauty brands. Mao Geping is the only domestic market player among the top 10 premium beauty groups in China, ranking seventh based on total retail sales in 2023 with a market share of 1.8 per cent, according to... https://www.scmp.com/business/banking-finance/article/3288959/mao-geping-cosmetics-debut-hong-kong-us270-million-ipo-c-beauty-ascends?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3288959/mao-geping-cosmetics-debut-hong-kong-us270-million-ipo-c-beauty-ascends?utm_source=rss_feed Mon, 02 Dec 2024 07:18:46 +0000 Mia Castagnone Mia Castagnone Hong Kong stocks rose as sentiment perked up after China’s manufacturing activity jumped for a second month to a five-month high in November, indicating Beijing’s stimulus policies are taking effect. The Hang Seng Index gained as much as 1.3 per cent, before ending the day 0.7 per cent higher at 19,550.29. The Hang Seng Tech Index advanced 1.2 per cent. On the mainland, the CSI 300 Index added 0.8 per cent and the Shanghai Composite Index gained 1.1 per cent. Bottled water maker Nongfu Spring... https://www.scmp.com/business/markets/article/3288912/hong-kong-shares-ride-accelerating-china-factory-activity-stimulus-takes-hold?utm_source=rss_feed https://www.scmp.com/business/markets/article/3288912/hong-kong-shares-ride-accelerating-china-factory-activity-stimulus-takes-hold?utm_source=rss_feed Mon, 02 Dec 2024 02:34:45 +0000 Mia Castagnone Mia Castagnone Tencent Holdings-backed WeDoctor has revived its plan for a Hong Kong stock listing with the aim of submitting its application by the end of December, hoping to raise US$400 million to US$500 million by June, according to sources familiar with the matter. The Hangzhou-based online healthcare platform had previously filed for an initial public offering (IPO) in Hong Kong in 2021, but Beijing’s sweeping crackdown on the country’s private sector disrupted many such offerings around that time,... https://www.scmp.com/business/banking-finance/article/3288857/tencent-backed-wedoctor-revives-hong-kong-ipo-plan-sources-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3288857/tencent-backed-wedoctor-revives-hong-kong-ipo-plan-sources-say?utm_source=rss_feed Mon, 02 Dec 2024 01:30:11 +0000 Mia Castagnone Mia Castagnone Hong Kong will require an influx of banking talent as the market rebounds and cross-border activity with mainland Chinese companies picks up, according to the Asia-Pacific head of Deutsche Bank. “Hong Kong has always benefited from its proximity to mainland China, and that’s a strength, not a weakness,” Alexander von zur Muehlen said during a recent visit to Hong Kong. “It’s the window to the world, and it will continue to require an influx of talent.” The German lender’s Hong Kong headcount... https://www.scmp.com/business/banking-finance/article/3288617/china-ma-outlook-calls-hong-kong-talent-influx-deutsche-bank-asia-head-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3288617/china-ma-outlook-calls-hong-kong-talent-influx-deutsche-bank-asia-head-says?utm_source=rss_feed Fri, 29 Nov 2024 04:31:59 +0000 Mia Castagnone Mia Castagnone China will make changes to its system of trading if the Trump administration follows through with its tariff threats and while markets will be disrupted, business will go on, according to Standard Chartered CEO Bill Winters. “Things could get disruptive, [however] markets will equilibrate, and if one country imposes a tariff on another, then trade will reroute,” Winters said during a recent visit to Hong Kong. “Lots of commitments were made during [the US presidential] campaign, which,... https://www.scmp.com/business/banking-finance/article/3288477/standard-chartered-ceo-us-tariffs-will-be-disruptive-markets-will-equilibrate?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3288477/standard-chartered-ceo-us-tariffs-will-be-disruptive-markets-will-equilibrate?utm_source=rss_feed Thu, 28 Nov 2024 08:30:12 +0000 Mia Castagnone Mia Castagnone Some 250 listed companies in Hong Kong have yet to add at least one woman to their boards even as a deadline to comply with the exchange’s rules is only a month away, according to Hong Kong Exchanges and Clearing (HKEX). “The deadline is the end of this year, so the next few weeks will be very busy for my team to call the remaining non-compliant companies to make sure that they bring women on to their boards,” CEO Bonnie Chan Yiting said on Wednesday. The compliance rate, however, has... https://www.scmp.com/business/banking-finance/article/3288374/time-running-out-hong-kong-listed-firms-get-women-board-hkexs-bonnie-chan?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3288374/time-running-out-hong-kong-listed-firms-get-women-board-hkexs-bonnie-chan?utm_source=rss_feed Wed, 27 Nov 2024 10:01:52 +0000 Mia Castagnone Mia Castagnone SF Holding, China’s largest courier deliverer often regarded as the nation’s equivalent to FedEx, delivered a flat trading debut in Hong Kong amid tepid sentiment, a precursor to a busy week of stock debuts that will add several billion Hong Kong dollars to this year’s listing proceeds. Trading under the 6936 code, SF shares rose by as much as 1.2 per cent to an intraday high of HK$35.50, after opening unchanged from its initial public offering price (IPO) of HK$34.30. The shares ended the day... https://www.scmp.com/business/banking-finance/article/3288275/sf-holdings-shares-deliver-flat-trading-debut-hong-kong-amid-tepid-market-sentiments?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3288275/sf-holdings-shares-deliver-flat-trading-debut-hong-kong-amid-tepid-market-sentiments?utm_source=rss_feed Wed, 27 Nov 2024 01:42:36 +0000 Mia Castagnone,Enoch Yiu Mia Castagnone,Enoch Yiu China envisions Hong Kong’s capital markets as a beacon of prosperity, having lifted the city out of social chaos in June 2020. This week, Beijing backed that goal with vocal support at an investment summit attended by CEOs of global banks and money managers. Do global investors share the optimism? The question has never been more pertinent as the US ushers in president-elect Donald Trump in January. His economic policies will roil global markets, based on campaign speeches. Hong Kong, caught in... https://www.scmp.com/business/china-business/article/3287789/hong-kong-vs-trump-20-global-ceos-see-new-hopes-old-threats?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3287789/hong-kong-vs-trump-20-global-ceos-see-new-hopes-old-threats?utm_source=rss_feed Sat, 23 Nov 2024 01:30:15 +0000 Mia Castagnone,Yuke Xie Mia Castagnone,Yuke Xie Chinese officials in charge of three parts of the world’s second-largest capital market descended on the nation’s offshore financial centre to lend their voices and support to Hong Kong’s role in connecting the mainland with the rest of the world. Commodities may be added to the stocks, bonds, options and wealth management products that are currently tradeable in the so-called Connect scheme, which allows global investors and mainland capital to tap into each other’s markets via Hong Kong, said... https://www.scmp.com/business/banking-finance/article/3287143/commodities-may-add-connect-scheme-china-signals-support-hong-kongs-role?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3287143/commodities-may-add-connect-scheme-china-signals-support-hong-kongs-role?utm_source=rss_feed Tue, 19 Nov 2024 03:04:07 +0000 Mia Castagnone Mia Castagnone Hong Kong’s flagship financial event is bringing together the CEOs of some of the world’s biggest banking groups, promising access to China’s top decision makers at a time when investors are scrutinising Beijing for its stimulus and response to the incoming US administration. Vice-Premier He Lifeng is leading a delegation of top officials, including Wu Qing, head of the China Securities Regulatory Commission (CSRC), at the Global Financial Leaders’ Investment Summit, which kicks off today with a... https://www.scmp.com/business/banking-finance/article/3287030/hong-kong-summit-kicks-ceos-set-discuss-chinas-ideas-stimulus-trump?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3287030/hong-kong-summit-kicks-ceos-set-discuss-chinas-ideas-stimulus-trump?utm_source=rss_feed Mon, 18 Nov 2024 07:33:06 +0000 Mia Castagnone Mia Castagnone Hong Kong-based biotechnology start-up Prenetics and UK football star David Beckham have officially launched their health and wellness brand IM8. The brand will introduce two new premium products, Daily Ultimate Essentials and Daily Ultimate Longevity, in its online store with shipping to 31 countries, including Hong Kong, the US, UK and Singapore. “I’m incredibly proud of what we’ve created with IM8”, according to a statement by Beckham, who announced his “strategic” investment in Prenetics in... https://www.scmp.com/business/banking-finance/article/3286942/prenetics-and-david-beckham-launch-im8-brand-two-health-and-wellness-supplements?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3286942/prenetics-and-david-beckham-launch-im8-brand-two-health-and-wellness-supplements?utm_source=rss_feed Mon, 18 Nov 2024 05:16:19 +0000 Mia Castagnone Mia Castagnone Global diversification is one of the most important opportunities for investors today, according to Bob Prince, co-chief investment officer at US hedge fund Bridgewater Associates. China offers a unique opportunity because its assets are less correlated with global markets. “Geopolitics, protectionism and so forth are actually creating bigger differences in economic conditions across countries, which is not less efficient, it’s more inflationary,” he said in an interview during the 2024 Family... https://www.scmp.com/business/banking-finance/article/3286927/china-offers-unique-opportunity-portfolio-diversification-bridgewaters-prince-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3286927/china-offers-unique-opportunity-portfolio-diversification-bridgewaters-prince-says?utm_source=rss_feed Mon, 18 Nov 2024 02:30:08 +0000 Peggy Sito,Mia Castagnone Peggy Sito,Mia Castagnone The Tracker Fund, Hong Kong’s biggest and most popular exchange-traded fund (ETF) with HK$149.9 billion (US$19.3 billion) of assets, celebrated its 25th anniversary this week. While assets have multiplied, so has market volatility and risks. Established on November 11, 1999, the Tracker Fund, also known as TraHK, was set up by the Hong Kong Monetary Authority (HKMA) to absorb stocks accumulated by the government during a two-week market intervention when it spent HK$118 billion to prop up stock... https://www.scmp.com/business/banking-finance/article/3286238/tracker-fund-completes-25-years-hong-kong-lays-foundation-thriving-etf-market?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3286238/tracker-fund-completes-25-years-hong-kong-lays-foundation-thriving-etf-market?utm_source=rss_feed Tue, 12 Nov 2024 09:45:19 +0000 Mia Castagnone Mia Castagnone Hong Kong’s stock benchmark fell below 20,000 for the first time since Beijing announced a large package of stimulus measures in late September. Data showed borrowing in mainland China slowed in October. The Hang Seng Index fell 2.8 per cent to 19,846.88 at the close on Tuesday, bringing it to the lowest point since September 25 and erasing all gains from the policy-induced rally. The Tech Index dropped 4.2 per cent. The CSI 300 Index declined 1.1 per cent, and the Shanghai Composite Index fell... https://www.scmp.com/business/china-business/article/3286148/hong-kong-stocks-dip-chinas-borrowing-slowdown-hits-investor-confidence?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3286148/hong-kong-stocks-dip-chinas-borrowing-slowdown-hits-investor-confidence?utm_source=rss_feed Tue, 12 Nov 2024 02:38:18 +0000 Mia Castagnone Mia Castagnone Stocks in Hong Kong fell as Beijing’s lacklustre policy announcement on Friday disappointed investors amid rising concerns about tariffs following the US election. The Hang Seng Index closed 1.5 per cent lower at 20,426.93 on Monday, while the Tech Index dropped 0.4 per cent. The CSI 300 Index and the Shanghai Composite Index erased early losses to gain 0.7 per cent and 0.5 per cent, respectively. Property and tech stocks led the decline in Hong Kong. Longfor Group plunged 4.5 per cent to... https://www.scmp.com/business/china-business/article/3285996/hong-kong-china-stocks-slide-beijing-policy-move-disappoints-amid-tariff-worries?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3285996/hong-kong-china-stocks-slide-beijing-policy-move-disappoints-amid-tariff-worries?utm_source=rss_feed Mon, 11 Nov 2024 02:18:15 +0000 Mia Castagnone Mia Castagnone L’Oreal, the world’s largest ­cosmetics company, plans to make its supply chain in China more resilient to reduce the risk of a global disruption, company executives said at the world’s biggest trade expo in Shanghai. “We are working on this programme of localisation, trying to produce as much as we can, where we can in China,” said Pankaj Gupta, the senior vice-president of L’Oreal China and North Asia at the China International Import Expo (CIIE). “[In doing so], our dependence on global... https://www.scmp.com/business/china-business/article/3285790/ciie-cosmetics-giant-loreal-strengthens-china-supply-chain-reduce-risk-disruption?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3285790/ciie-cosmetics-giant-loreal-strengthens-china-supply-chain-reduce-risk-disruption?utm_source=rss_feed Fri, 08 Nov 2024 09:15:14 +0000 Mia Castagnone Mia Castagnone Italian luxury fashion house Bulgari plans to add to its network of stores in mainland China as it bets on “significant” sales via its online channels to fuel growth. “We have already a very strong position in China, but we believe that we have an opportunity to take the brand to a much bigger level,” CEO Jean-Christophe Babin said at the China International Import Expo (CIIE) in Shanghai. While the maker of watches, fragrances, jewellery and leather goods has seen a slowdown this year, Babin... https://www.scmp.com/business/china-business/article/3285564/bulgari-ceo-sees-chinese-consumers-fuelling-luxury-growth-economy-improves?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3285564/bulgari-ceo-sees-chinese-consumers-fuelling-luxury-growth-economy-improves?utm_source=rss_feed Thu, 07 Nov 2024 06:19:13 +0000 Mia Castagnone Mia Castagnone International food companies are seeking to stay competitive in China by targeting well-travelled consumers who value healthy food and have a growing appetite for Western products, exhibitors said at the world’s largest trade show. Chinese consumers believe in the quality of milk from Australia and New Zealand, said Stacy Tang, export sales and brand manager at Sydney based consumer goods company Goodman Fielder. “[Chinese] consumers particularly enjoy products like high-protein milk beverages,”... https://www.scmp.com/business/china-business/article/3285456/growth-hungry-global-food-companies-target-worldly-chinese-consumers-ciie-attendees-say?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3285456/growth-hungry-global-food-companies-target-worldly-chinese-consumers-ciie-attendees-say?utm_source=rss_feed Wed, 06 Nov 2024 13:00:16 +0000 Mia Castagnone Mia Castagnone Australia brought more than 250 companies to the world’s largest trade expo this year in China, its largest delegation ever, as relations between the two countries improve thanks in part to visa-free travel. The China International Import Expo (CIIE) in Shanghai kicked off on Tuesday. The six-day event is intended to highlight the strength of China’s ties with its trading partners. Almost 70 per cent of the businesses in Australia’s contingent are food and beverage companies, including providers... https://www.scmp.com/business/china-business/article/3285268/australia-sends-largest-ever-delegation-china-international-import-expo-shanghai?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3285268/australia-sends-largest-ever-delegation-china-international-import-expo-shanghai?utm_source=rss_feed Tue, 05 Nov 2024 09:12:13 +0000 Daniel Ren,Mia Castagnone Daniel Ren,Mia Castagnone A wider opening of China would allow the country to play a stabilising role in a slowing global economy, Premier Li Qiang told international business leaders in Shanghai on Tuesday, while pledging to import more goods from trading partners. Speaking to more than 1,000 government officials and company executives at the start of the China International Import Expo (CIIE), Li said that “concerted efforts” are needed to overcome the country’s difficulties and improve its economic outlook. “China... https://www.scmp.com/business/china-business/article/3285208/chinas-premier-li-qiang-promises-wider-opening-play-stabilising-role-global-economy?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3285208/chinas-premier-li-qiang-promises-wider-opening-play-stabilising-role-global-economy?utm_source=rss_feed Tue, 05 Nov 2024 03:37:29 +0000 Mia Castagnone Mia Castagnone Airfares in China will continue to fall until the end of the year, as the travel off season begins and carriers grapple with tepid domestic consumption, HSBC said. The addition of more routes and economic uncertainty on the mainland will put pressure on airlines to cut prices, according to an HSBC global research report dated October 31. Prices peaked in early October, around China’s weeklong National Day holiday. Alipay, a Chinese mobile payment service operated by Ant Group, reported a surge... https://www.scmp.com/business/china-business/article/3284784/now-good-time-buy-cheap-plane-ticket-china-hsbc-tells-travellers?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3284784/now-good-time-buy-cheap-plane-ticket-china-hsbc-tells-travellers?utm_source=rss_feed Fri, 01 Nov 2024 08:00:13 +0000 Mia Castagnone Mia Castagnone Standard Chartered, one of Hong Kong’s three currency-issuing banks, plans to bolster its wealth management business and sell its underperforming units after reporting better-than-expected profit for the third quarter. Net profit for the three months to September came in at US$931 million under international accounting rules, beating forecasts of US$886 million. The London-based bank, which generates much of its income in Asia, reported US$1.7 billion in pre-tax profit, exceeding the US$1.5... https://www.scmp.com/business/banking-finance/article/3284424/standard-chartered-third-quarter-net-profit-us931-million-beats-estimates?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3284424/standard-chartered-third-quarter-net-profit-us931-million-beats-estimates?utm_source=rss_feed Wed, 30 Oct 2024 05:02:20 +0000