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Stocks

Stocks
Stock market action from around the world, with a focus on Hong Kong, China and the rest of Asia.
Bitcoin slid as much as 3 per cent early on Friday in Singapore to dip below US$103,000 before paring losses. Photo: Shutterstock
Bitcoin

Bitcoin, other cryptocurrencies sink after Israel air strikes on Iran

Over US$1 billion worth of long positions across all cryptocurrencies were liquidated in the past 24 hours, according to Coinglass data.

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IPO

Zhejiang Sanhua seeks US$1 billion in Hong Kong listing

Hong Kong stock market

Hong Kong stocks fall on rising geopolitical tensions

China economy

Macroscope | Donald Trump has given Chinese stocks a major boost

The strong performance of the offshore market has led global investors to take a second look at Chinese equities.

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A woman poses for a picture next to the Bund Bull sculpture in Shanghai on April 9. Photo: AFP
Hong Kong stock market

Hong Kong stocks fall on US trade threats and interest rate uncertainty

US President Donald Trump says he will unveil unilateral tariff rates within two weeks.

IPO

China may let Hong Kong-listed firms raise funds in Shenzhen via ‘H + A’ IPOs

The reversal of the usual A + H approach could help firms expand in the Greater Bay Area and encourage more Hong Kong IPOs, analysts say.

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Made in China 2025

GoPro rival Insta360 eyes global expansion after strong Shanghai IPO

After the Star Market’s biggest debut in a year and a half, executive Max Richter touted the company’s commitment to global markets amid trade tensions.

GoPro rival Insta360, known for its 360-degree action cameras like the X5, is eyeing further global expansion after a strong IPO. Photo: Handout
Hong Kong stock market

Hong Kong stocks rise after US, China unveil trade agreement

US Commerce Secretary Howard Lutnick says framework will be presented to both governments for approval.

Electric & new energy vehicles

Chinese EV battery maker Eve Energy jumps on Hong Kong IPO bandwagon

The firm joins more than a dozen smart-mobility companies from mainland China aiming to raise funds amid the city’s listing surge.

Tencent

Tencent Music to buy Ximalaya, an audio app used by 300 million users

Ximalaya, a platform for podcasts, audiobooks and music, could enhance Tencent Music’s competitiveness in the audio content market.

Ximalaya is a popular Chinese online audio platform. Photo: Handout
Banking & finance

Labubu becomes bait for China’s Ping An Bank to lure young customers

Tactic draws attention of regulators as retail banks on the mainland struggle to attract young customers, analysts say.

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A shopper reaches for a Labubu doll at Popland, a theme park opened by Chinese toy company Pop Mart, in Beijing, on June 2, 2025. Photo: EPA-EFE
Hong Kong stock market

Hong Kong stocks erase gains amid ongoing US-China trade talks

Investors appear to look more cautiously at ongoing US-China trade talks in London.

Banking & finance

Chinese stocks ‘not particularly cheap’ with weak earnings power, JPMorgan says

A re-rating requires an improvement in profitability, which is difficult to come by in the weak economy, money manager says.

HKEX

IPO wave driving Hong Kong exchange operator to greater heights: Morgan Stanley

HKEX’s 41 per cent rise this year is set to continue, investment bank says, joining positive calls by Goldman Sachs and HSBC.

A person takes a picture of Exchange Square in Central, home of stock exchange operator Hong Kong Exchanges and Clearing, on April 7, 2025. Photo: Jelly Tse
Hong Kong economy

The View | Hibor plunge a bigger deal for stock market than Hong Kong’s property sector

The decline in the city’s interbank offered rates should be good news for the real estate sector but its underlying problems remain acute.

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A woman looks at slashed property prices advertised at a real estate agency in Tai Koo on July 29, 2024. Photo: Eugene Lee
Hong Kong stock market

Hong Kong stocks rise as US, China negotiators gear up for trade talks

Top trade negotiators from the US and China are scheduled to engage in talks in London on Monday.

Digital currencies

Hong Kong’s stablecoin law opens floodgates for boom in digital assets: brokers

Investors are increasingly interested in stablecoins, which are digital tokens pegged to a reference asset like a fiat currency.

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Banking & finance

Exclusive | HSBC to grow investment bank to serve rising demand for IPOs

The bank said it would restructure to focus on high-return areas like Hong Kong and India, as well as exit low-profitability markets like Europe and the US.

HSBC’s co-CEOs for Asia and Middle East David Liao (right) and Surendra Rosha (left), during an interview at HSBC’s head office in Hong Kong on 5 June 2025. Photo: Jonathan Wong
Banking & finance

Step aside Shanghai, Hong Kong is China’s prize financial hub

Despite calling the two cities twin engines for finance, Beijing’s actions favour Hong Kong as China’s one true global funding hub.

Digital currencies

China Renaissance’s investment in stablecoin issuer Circle pays off

The Chinese bank invested in the US tech firm in 2018 through its Huaxing New Economy Fund.

Hong Kong stock market

Hong Kong stocks halt 3-day gain as Xi-Trump call underwhelms investors

Call between the two leaders offers little clarity to ease ongoing trade tensions.

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US President Donald Trump and Chinese President Xi Jinping are seen in this file photo from June 29, 2019. Photo: Reuters
United States

Opinion | May’s Taco market lull may well be the calm before the storm

For now, even a threat of tariff escalation may be discounted by a feeling that ‘Trump always chickens out’.

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Relaxed traders on the floor of the New York Stock Exchange during morning trading on May 27. Photo: Getty Images via AFP
Digital currencies

Stablecoin firm Circle’s shares double in wild trading debut

Shares of the stablecoin issuer close 168 per cent higher in volatile trading.

IPO

Big Hong Kong IPOs like CATL squeeze price gaps of China’s dual-listed companies

The H-share discount to A shares narrows to 24 per cent from an average of 31 per cent over the past two years.

Hong Kong

Chinese app firm Newborn Town sets up in Hong Kong for AI, global push

Firm plans to make use of city’s capital markets, international connections and talent while also collaborating with local universities.

Newborn Town developed and operates the Mico, Yoho, TopTop and Sugo apps. Photo: Handout
Hong Kong stock market

Hong Kong stocks rise for third day as China’s services PMI beats expectations

The Caixin China services PMI index reading of 51.1 in May exceeds Bloomberg’s consensus forecast of 51.

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Shoppers in Hong Kong’s Causeway Bay. Photo: Nora Tam
Hong Kong economy

Editorial | It will pay Hong Kong’s workers to check their savings after MPF shake-up

Much-criticised Hong Kong retirement scheme charges lower fees since switch to electronic platform and will offer greater flexibility.

Bonds

China’s Ping An raises US$1.5 billion from convertible bonds to fund growth

The notes will not bear interest throughout the five-year term and can be converted into Hong Kong-traded shares at HK$55.02 each.

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