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Zhongji Innolight is set to launch its initial public offering in Hong Kong on July 30. Photo: SCMP/Jelly Tse
Hong Kong stock market

Zhongji Innolight already has 30 cornerstone investors for US$8b IPO: sources

The Chinese firm is aiming to raise US$8 billion in its Hong Kong listing on July 30, making it the city’s biggest share sale in seven years.

Banking & finance

Healthcare IPO wave: US biotech firm picks Hong Kong over Nasdaq for listing

Ant Group

Fintech firm Ant International raises US$1.2b to fuel global growth

HKEX

Exclusive | HKEX eyes confidential filings, lower market cap threshold for start-ups

HKEX is moving towards closed listings to compete with other exchanges that allow for confidentiality.

The Hong Kong Exchanges and Clearing (HKEX) in Central on July 17. Photo: Karma Lo
The Hong Kong Exchanges and Clearing (HKEX) in Central on July 17. Photo: Karma Lo
China property

Tech-driven surge: new wealth fuels luxury housing boom in China’s AI stronghold

Landmark deals push Hangzhou’s luxury homes to fresh highs, powered by the country’s newly rich from start-ups and finance.

Banking & finance

Hong Kong bourse weighs longer hours amid pressure from global peers: sources

Nasdaq’s 23-hour expansion and London’s round-the-clock push pile pressure on Hong Kong to rethink its shorter trading day.

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ETFs

What MPF’s 4.8m members could gain if rules are eased for Hong Kong-listed ETFs

Relaxing rules to widen ETF access will deliver stable returns at low cost while boosting local markets, chamber says.

The MPFA is being urged to consider following the Australian pension model, which allows members to directly invest part of their pension money in assets of their choice and not just designated MPF funds. Photo: Jelly Tse
The MPFA is being urged to consider following the Australian pension model, which allows members to directly invest part of their pension money in assets of their choice and not just designated MPF funds. Photo: Jelly Tse
Family offices

Wealthy European clients eye Hong Kong for family offices, says BNP Paribas

France’s largest bank reports a surge in two-way wealth flows through Hong Kong, as affluent mainland investors also leverage the city to acquire European assets.

Hong Kong property

Hong Kong homebuyers snap up 138 Garden Regency flats in New Territories

Top developer clears all units in weekend launch after offering a maximum 16 per cent discount.

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Commodities

China’s resources deals turn gold mines into – gold mines

Chinese gold producers, after a buying spree for mines abroad, are cashing in as the metal’s price goes sky-high.

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Gold prices remain highly elevated despite a recent sell-off, boosting the earnings of Chinese gold mining firms. Photo: AFP
Fintech

China-UAE retail QR payment link to boost the yuan’s global push

Beijing linking its retail payment networks with Dubai is another step toward yuan internationalisation and reducing US dollar reliance.

Bank of China (BOC) will act as the exclusive clearing bank for Jaywan, the UAE’s national debit card. Photo: Handout
Bank of China (BOC) will act as the exclusive clearing bank for Jaywan, the UAE’s national debit card. Photo: Handout
Semiconductors

Chinese memory giant CXMT oversubscribed 212 times in mega Shanghai IPO

Nearly 10 million investor accounts apply for a rare listed proxy on Beijing’s semiconductor self-reliance drive.

Banking & finance

How AI and chip boom is propelling Hong Kong’s ETP market to new heights

Hong Kong is already the world’s fourth-largest market for exchange-traded products, and the rapid growth in trading is set to continue, director says.

Banking & finance

Open Questions | Citic Capital CEO on making China a financial powerhouse

Ex-Wall Streeter Zhang Yichen on attracting capital to China, building up its bond market and helping foreign firms better serve Chinese consumers.

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Illustration: Henry Wong
IPO

Hong Kong exchange returns IPO application sponsored by CICC

Inner Mongolia Xingye Silver & Tin Mining says it plans to resubmit application before end of September.

China International Capital Corporation’s logo on a smartphone screen. Photo: CFOTO/Future Publishing via Getty Images
China International Capital Corporation’s logo on a smartphone screen. Photo: CFOTO/Future Publishing via Getty Images
Stocks

Diversify away from US markets to shield savers, ex-World Bank official warns

Oxford’s Ian Goldin says extreme concentration of capital in tech giants exposes global investors to a looming and painful valuation reversal.

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Banking & finance

Mainland funds boost stakes in Hong Kong-listed biotech amid value dislocation

Analysts say valuation of the sector is attractive, with biotech firms trading relatively cheaply.

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Banking & finance

HKIC reports double-digit investment return as ‘patient capital’ bears fruit

The government-owned investment firm generated nearly HK$6.5 billion in its second year, as Hong Kong’s economic vision begins to take shape.

Clara Chan Ka-chai, CEO of the Hong Kong Investment Corporation (HKIC), speaks during the International Forum for Patient Capital in Hong Kong last May. Photo: Jonathan Wong
Clara Chan Ka-chai, CEO of the Hong Kong Investment Corporation (HKIC), speaks during the International Forum for Patient Capital in Hong Kong last May. Photo: Jonathan Wong
Yuan

China eyes broader global access to yuan assets, as panda bond demand surges

Beijing plans further reforms to make it easier to issue and trade panda bonds, as it focuses on boosting the yuan’s role as a global currency.

IPO

Comeback path: what Hong Kong needs to reclaim IPO crown, think tank says

City can regain ground by attracting new economy companies and issuers from across Asean, Middle East and Europe, FSDC says.

IPO

Waning appetite: why mainland Chinese F&B stocks are losing favour in Hong Kong

IPO lapses and sliding share prices underscore how weak consumption is dulling Hong Kong’s appetite for mainland China’s food sector.

Mixue Group’s shares are down 48 per cent this year. Photo: Reuters
Greater Bay Area

Hong Kong urged to pave path for Greater Bay Area firms going global

Standards alignment, supply-chain coordination and cross-border financing are areas where city’s expertise can be pivotal, summit speakers say.

Supply-chain relocation exposes the limits of going it alone for companies in the bay area, according to speakers at a summit on Greater Bay Area expansion. Photo: Eugene Lee
Supply-chain relocation exposes the limits of going it alone for companies in the bay area, according to speakers at a summit on Greater Bay Area expansion. Photo: Eugene Lee
Accounting and auditing

As IPOs surge, Hong Kong’s audit regulator vows tougher scrutiny

With more than 430 applicants in the IPO pipeline, the city’s accounting watchdog is ramping up post-listing inspections.

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China stock market

5 years after Evergrande, does China’s stock market signal a turnaround?

Domestic A-shares have returned to near-2021 levels as real interest rates decline, though researchers warn a sustained recovery is not yet guaranteed.

Yuan

London Clearing House accepts dim sum bonds as non-cash collateral

Bank of China led the roll-out of the yuan-denominated assets, with three of its overseas units executing the first transactions.

Yuan notes. Photo: Getty Images
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