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Stocksi

Stock market action from around the world, with a focus on Hong Kong, China and the rest of Asia.

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  • Fourth-quarter earnings of Chinese companies are trailing those of peers in the rest of Asia, according to Goldman Sachs
  • Sentiment remains cautious ahead of the Fed’s meeting later this week

Fosun Tourism Group, the leisure and tourism unit of Chinese conglomerate Fosun International, is courting both domestic and international investors in a move that is in line with its asset-light strategy.

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China is tightening the screws on new domestic stock offerings, issuing four documents at once laying out some of the harshest rules, checks and penalties yet to crack down on fake accounting and restore confidence.

Investors should seek refuge in Chinese domestic consumption stocks and avoid hardware and semiconductor makers to ride out the US-China geopolitical uncertainty, according to Goldman Sachs.

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Stocks suffer from a twin blow on interest-rate front. China keeps its one-year loan facility unchanged, while stronger than expected US price reports this week undermine bets on a rate cut in the next two meetings.

Hong Kong-listed firms have been involved in US$4 billion worth of take-private deals already in 2024, compared with US$1.2 billion for the whole of last year, with investors often dismayed by poor valuations.

The New York-based bank will continue to invest in Hong Kong, betting that the city where it has been doing business for a century can recover when the economic cycle turns, and live up to its potential as the financial centre of the world’s second largest economy.

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Hong Kong stocks took a breather from a three-day gain that helped key equity gauges overcome some key technical barriers, with sportswear maker Li Ning and Chinese developers weighing on the market.

South Korea plans to review the sale of potentially high-risk investments after a probe found that banks mis-sold China-linked structured products, exposing retail investors to more than US$4 billion in losses.

Hong Kong-listed stocks are witnessing a surge in share buy-backs as companies use their cash hoard to boost valuations, lift investor confidence.

The billionaire entrepreneur and Olympic champion is considering taking his namesake sportswear company private from the Hong Kong stock exchange, four people said, adding to a string of such potential deals in a faltering market.

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Hong Kong stocks were lifted by hopes more companies could launch share buy-backs to take advantage of the current market valuations, sending the Hang Seng Index into the black for the year and thrusting the Hang Seng Tech Index into a bull market, defined as a rise of 20 per cent from recent lows.

The minimum asset requirement for investing in Hong Kong equities via the Stock Connect scheme should be cut to 100,000 yuan (US$13,900) from 500,000 yuan, SFC chairman Tim Lui says.

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Hong Kong stock market began the week on a firm note amid signs of a demand pickup in the world’s second largest economy and following positive investor flow data.

Once a lucrative source of fees for investment bankers, new stock offerings have become a source of stress and job insecurity amid a slump in activity. For retail investors, those first-day windfalls are also harder to come by.

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San Francisco-based Matthews International, which had fewer than 10 people in the Shanghai office, will centralise its regional research business in Hong Kong.

Hong Kong stocks rose, amid expectations global central banks will ease monetary conditions this year following dovish comments from heads of the US Federal Reserve and the ECB.

Shares of Chinese gold producers and jewellers have soared, tracking the surge in bullion prices fuelled by hopes of interest-rate cuts by the US Federal Reserve and the uncertain environment, but the rally could be nearing an end.

Hong Kong stock markets weakened, led by big losses in Wuxi Biologics and Wuxi AppTec, after a US bill proposed restricting business with Chinese biotech companies on national security grounds.

Downward pressure on Chinese stocks is piling up, as state buying is likely to wane after taking a key stock gauge hit a psychologically important level, and institutional investors remain cautious amid the lack of policy stimulus, analysts say.

Tech stocks lead Hong Kong stock markets higher ahead of e-commerce giant JD.com’s results as focus returned to corporate earnings after mood was dampened by the lack of stimulus at China’s ongoing annual parliamentary meeting

The country’s second-largest developer has assured investors it has the funds in place to repay its outstanding offshore debts coming due soon, as its shares and bonds tumbled amid rumours about liquidity distress.

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Bearish call reflects jitters among overseas investors even as both onshore and offshore shares show nascent signs of stabilisation amid state support and the return of foreign inflows.