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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.
Lingyi iTech robots perform a thousand-hand Guanyin dance at the opening of Honor’s Alpha Global Flagship Store last September in Shenzhen. The store is a sign of AI’s growing ubiquity, something also demonstrated by the sector’s increasing importance to the HKEX. Photo: VCG via Getty Images
Wealth Report

Tech pioneers flocking to Hong Kong thanks to revamped listing rules

An AI-driven surge of Chapter 18C listings has pushed HKEX past New York in IPO fundraising, but how has the listing route impacted economic growth?

Hong Kong stock market

Hang Seng Index caps worst week in over a year amid tech sell-off

Hong Kong stock exchange

Letters | Hong Kong should rethink the push for 24-hour stock trading

Hong Kong stock market

HKEX pushes deeper into index business as AI reshapes Hong Kong market

The bourse wants proprietary indices to better capture China’s technology boom as traditional Hong Kong benchmarks trail regional peers.

Hong Kong Exchanges and Clearing at Exchange Square in Central. The bourse is expanding its index business with proprietary benchmarks and new investment products. Photo: Jelly Tse
Semiconductors

China’s Big Fund becomes SMIC’s third-largest shareholder after record buyout

The landmark deal consolidates the Big Fund as third largest owner of SMIC, China’s largest wafer foundry.

India

Macroscope | Is investors’ love affair with India ending?

Investors have flocked to tech-heavy markets, but looming US interest rate rises and volatility fears could see India’s star shine again.

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Hong Kong stock market

Hang Seng Index briefly slips below 23,000 as Alibaba leads tech sell-off

Alibaba led Hong Kong tech stocks lower, pushing the Hang Seng briefly below 23,000 as AI and consumer worries hit sentiment.

The city’s benchmark stock index briefly dipped below 23,000 as technology shares came under pressure. Photo: Jelly Tse
Banking & finance

Can Shanghai’s offshore finance push test Hong Kong’s dominance?

Beijing is accelerating Shanghai’s offshore finance ambitions, raising questions over whether Hong Kong’s long-held edge can endure.

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Futu

China closes another offshore investing loophole as TRS faces restrictions

Brokerages told to halt expansion of offshore-linked TRS portfolios as Beijing tightens oversight of cross-border investing channels.

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China’s private sector

iPhone supplier Luxshare passes key hearing for Hong Kong listing

The firm, a key supplier for AirPods and iPhones, is a step closer to joining other mainland Chinese tech heavyweights in HKEX listing.

Luxshare Precision Industry has passed a regulatory hurdle to list in Hong Kong. Photo: Getty Images
Hong Kong stock market

Hong Kong stocks rebound from choppy trading triggered by turmoil in US

Hang Seng Index bounces back after overnight plunge in Nasdaq-100 on concerns about frothy tech valuations.

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The logo of Hong Kong Exchanges and Clearing. Photo: Reuters
United States

US stocks slide, as Wall Street gets AI wake-up call

The tech rout engulfed global stocks as worries about frothy valuations ignited a fresh bout of volatility.

Banking & finance

China’s trading crackdown seen boosting Hong Kong as official capital hub

Analysts at ‘Summer Davos’ gathering highlight pivot towards official cross-border connect schemes to intermediate domestic wealth ‘on China’s own terms’.

Millionaires, billionaires and trillionaires

What’s powering the rapid rise of Hong Kong’s ultra-wealthy class?

The city’s ultra-wealthy population jumped by more than 26 per cent in 2025 – roughly one super-rich individual for every 412 residents.

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Hong Kong has nearly 18,300 ultra-high-net-worth individuals, defined as those with net assets exceeding US$30 million. Photo: Karma Lo
China's economic recovery

Beijing’s plan to revive foreign direct investment

SCMP Plus annotates 15-point plan released by the central government aimed at attracting foreign investment and reversing a decline in capital inflows.

Beijing’s plan to revive foreign direct investment
IPO

Momenta granted regulatory approval to list in Hong Kong amid rumoured crackdown

As Beijing appears to tighten rules on the listing of domestic firms incorporated offshore, self-driving tech start-up Momenta gains IPO approval.

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South Korea

South Korea’s economy is booming. Why is the reality so different on the ground?

Economists warn the narrow growth will leave sectors including construction, retail, services and small businesses struggling to keep pace.

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Elon Musk

Video | Could the world’s second trillionaire come from China?

China is seeing growth in its tech uber-rich as AI and other hard technologies drive wealth creation.

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Artificial intelligence

From ‘rice’ to riches: China’s MLCC makers head to Hong Kong to list

Small, found in almost every electronic device and critical to AI servers, now the ‘rice of electronics’ is driving two Hong Kong IPOs.

China stock market

China to back ‘qualified’ foreign firms for listing on domestic markets

Government says foreign-funded companies would be aided in domestic listings, as well as mergers and acquisitions.

Hong Kong economy

Exclusive | Hong Kong aims to offer more investment options for mainland Chinese: Paul Chan

Authorities on both sides reviewing broader Greater Bay Area trading scheme, finance chief says, adding crackdown on illegal trades will help city.

Exchange Square in Central. Finance chief Paul Chan says a well-calibrated expansion of cross-border stock trading will attract additional capital to the city. Photo: Jelly Tse
China’s private sector

Apple supplier Lingyi seeks US$1.1 billion Hong Kong IPO to fund AI and robotics

The Shenzhen-listed components maker is using a Hong Kong float to fund its push into AI servers, smart glasses and robotics.

Lingyi’s ‘Lingyue’ humanoid robots perform at an Honor flagship store launch in Shenzhen. Photo: Getty Images
Banking & finance

Opinion | AI has been known to hallucinate. So have financial markets

Stock markets are booming on the assumption that US tech giants will deliver, but as liquidity becomes scarce, a reality check will ensue.

China's economic recovery

China’s policy blitz at Lujiazui Forum – what the monetary overhaul means

Regulators are leveraging currency strength to formalise outbound routes, granting fresh quotes for global assets while narrowing the interest-rate corridor.

Banking & finance

Global investors still in China’s orbit despite SpaceX IPO: HKEX chief

HKEX chief Bonnie Chan says global investors remain focused on China’s innovation story.

Hong Kong Exchanges and Clearing CEO Bonnie Chan. Photo: Handout
China’s private sector

Can Pop Mart sustain the Labubu juggernaut as China sales cool?

Analysts warn of rising sales pressure as China demand tapers off, even as Pop Mart bets on new launches and overseas growth.

No signs of mollification: Pop Mart’s Molly figures stand their ground as the company records its first year-on-year decline in domestic online sales since 2024. Photo: AP
Indonesia

Indonesia’s rupiah rebounds but rate rises threaten the middle class

A successful sovereign wealth fund debut and a stock market rally offer a reprieve, even as higher borrowing costs threaten growth.

United States

SpaceX vaults past Amazon’s market value, briefly topping Microsoft

Elon Musk’s company was worth roughly US$2.655 trillion at closing – some US$800 billion more than at its record IPO last week.

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