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Markets & Investing

Citic Securities led Asia-Pacific with a 6.4 per cent share of the total investment banking fee pool in the first quarter: Photo. Reuters
Banking & finance

Mainland China and Hong Kong IPOs drive Citic to the top of banking fee rankings

Citic leads Asia-Pacific in fees in the first quarter as IPOs in Hong Kong and mainland China offset weaker debt and M&A activity.

Banking & finance

Everest’s US$250 million buy signals rising global appetite for China biotech

Banking & finance

Stricter Chinese scrutiny of offshore vehicles a blow for tech IPO candidates

Banking & finance

Hong Kong’s anticipated stablecoin licence by end-March does not materialise

Analysts say the delay is most likely administrative and that the overall plan is still on track.

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Hong Kong’s stablecoin initiative is part of efforts to become a global digital-asset hub. Photo: Getty Images
Hong Kong’s stablecoin initiative is part of efforts to become a global digital-asset hub. Photo: Getty Images
IPO

Hong Kong retains IPO crown but may lose to US mega listings over full year

Second place for IPO funds raised is Nasdaq, with US$5.65 billion from 18 listings, while the New York Stock Exchange ranks third.

Mainland China

Sketching a recovery: China puts next-gen art buyers in the frame amid slowdown

A US$83 trillion global wealth transfer in next two to three decades is beginning to reshape China’s art market: UBS.

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Turkey

As tensions rise, Middle Eastern money and travellers pivot to Hong Kong

Wealthy Gulf visitors are extending their stays in Hong Kong as investors from the region look to hedge risk and tap Asian markets.

More Middle Eastern travellers are staying in Hong Kong’s hotels for longer, say hoteliers, in part driven by the US-Israel war on Iran. Photo: Jelly Tse
More Middle Eastern travellers are staying in Hong Kong’s hotels for longer, say hoteliers, in part driven by the US-Israel war on Iran. Photo: Jelly Tse
Banking & finance

Tong Ren Tang unit pulls Hong Kong IPO in first postponement this year

Hospital-network operator delays plan to raise up to US$115 million amid tepid demand.

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China’s private sector

China’s obesity drug makers take on global giants as Novo Nordisk patent expires

Patent expiry of blockbuster drug opens door for Chinese drug makers to challenge multinationals in booming weight-loss market.

China’s private sector

Rights to antibody drug from China’s Keymed change hands in US acquisition

Sichuan-based Keymed expects to receive up to US$320 million as a result of deal involving its autoimmune disease treatment licensed in 2024.

Gilead Sciences is one of many drug firms facing a revenue gap owing to expiring patents. Photo: Reuters
Banking & finance

Asian private equity values cash flow as fundraising falls to 12-year low

Advanced manufacturing and healthcare attract more attention at the expense of technology, media and telecommunications, Bain & Co says.

An employee works on a robot production line at Inovance Group in Jiangning District of Nanjing, in east China’s Jiangsu province, on March 17, 2026. Photo: Xinhua
An employee works on a robot production line at Inovance Group in Jiangning District of Nanjing, in east China’s Jiangsu province, on March 17, 2026. Photo: Xinhua
Made in China 2025

Global drug giants double down on China amid push for self-reliant supply chains

Multinationals are building self-reliant supply chains in China to insulate local markets from potential trade disruptions, say analysts.

Banking & finance

Iran conflict drives fund managers to slash risk and hoard cash: BofA survey

Fund managers pile into cash at fastest pace since Covid-19 as geopolitical tensions, inflation replace AI as top concerns, bank finds.

Banking & finance

Chinese banks outpace rivals in Hong Kong wealth growth, Huatai HK CEO says

Booming listings and rising outbound investment demand are accelerating growth for Chinese players, SFC data shows.

Wang Lei, CEO of Huatai Financial. Photo: Handout
China’s private sector

US reshoring drive casts shadow over China’s contract drug makers, analyst says

Strong order backlogs underpin earnings through 2027, but analysts warn longer-term demand is less certain as US firms reshore production.

Despite the headwinds, there is growing interest from multinational pharmaceutical companies in partnering with Chinese biotech firms. Photo: Getty Images
Despite the headwinds, there is growing interest from multinational pharmaceutical companies in partnering with Chinese biotech firms. Photo: Getty Images
Hong Kong stock market

Hong Kong stocks edge higher as oil steadies, tracking Wall Street gains

Hang Seng Index advances for a second day amid easing concerns over inflation and geopolitical risks.

Banking & finance

Hong Kong attracts wave of biotech IPO filings amid AI drug research boom

More than 10 pre-profit drug developers are seeking Hong Kong listings as AI-powered biotech platforms draw growing investor interest.

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China stock market

Hopes of AI monetisation to boost China tech stocks amid war, market scares

Chinese tech stocks prove steadier than regional and US peers, as frenzy over OpenClaw shows a possible way forward, analysts say.

People cross the street beneath screens showing stock data in Shanghai on March 9, 2026. Photo: EPA
People cross the street beneath screens showing stock data in Shanghai on March 9, 2026. Photo: EPA
Biomedicine: Companies

In a first for China, Neuracle’s brain-computer interface wins approval

China’s BCI start-ups, seen as potential rivals to Elon Musk’s Neuralink, gain momentum as regulatory support and new capital fuel growth.

Banking & finance

China investors energise Hong Kong biotech stocks. Is foreign money missing out?

Stock Connect reshuffle reflects biotech sector’s growing role on international stage, though overseas funds remain cautious.

Millionaires and billionaires

Adrian Cheng maps out investment plan in line with China’s 5-year plan

The former CEO of NWD plans to spend more time in mainland China this year to scope out tech investment targets.

Adrian Cheng says he has invested in a Chinese robotics firm. Photo: Handout
Made in China 2025

China biotech outlicensing tops US$52 billion in first 2 months

The latest deals are Sino Biopharmaceutical’s partnership with France’s Sanofi and Antengene’s agreement with Belgium’s UCB.

The logo of Sino Biopharmaceutical is seen on a building in Beijing, April 22, 2021. Photo: VCG via Getty Images
The logo of Sino Biopharmaceutical is seen on a building in Beijing, April 22, 2021. Photo: VCG via Getty Images
Two Sessions 2026

Healthcare investors looking to ‘two sessions’ for clarity on drug pricing

Healthcare and insurance sectors will see policy fine-tuning, ‘moral support’ rather than ‘groundbreaking news’ from Beijing, analysts say.

IPO

HSBC chairman floats ‘IPO connect’ for Hong Kong, Shenzhen listings

Modelled on Stock Connect, the proposal would give investors in the Greater Bay Area cross-border access to new share listings.

Made in China 2025

Hong Kong-listed Chinese drug firms set to turn corner on rising sales, deals

Chinese pharmaceutical firms are poised for profit growth, driven by innovative drug sales and licensing deals, despite pricing pressures.

Pills are produced and packed at Modern Pharmaceutical’s factory. Photo: Shutterstock
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