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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.
A total of 66 companies raised US$23.27 billion on the Hong Kong stock exchange’s main board in the first nine months of the year, according to the London Stock Exchange Group. Photo: Jelly Tse
IPO

China’s Chuangxin rides Hong Kong IPO wave with US$707 million fundraising

Listing draws commitments from 18 domestic and international investors and highlights the city’s buoyant market.

Hong Kong stock market

Hong Kong stocks slide on soft China economic data, fading US rate cut bets

China stock market

Stick with emerging-market stocks, especially in China, AI: UBS

IPO

China’s US$8 billion power bank giant Anker seeks Hong Kong listing

Plan comes amid US scrutiny and a series of product recalls.

A shop showcases Anker products in Tokyo on October 29, 2023. Photo: Shutterstock
Hong Kong Monetary Authority (HKMA)

Hong Kong’s Exchange Fund gains record US$35 billion in first 9 months

The nine-month return surpasses last year’s record of HK$239.1 billion and exceeds the full-year high of HK$264 billion reached in 2017.

Macroscope

Macroscope | Does emerging markets’ stellar run this year have legs?

Emerging market equities have seen their longest winning streak since 2004, but it is premature to talk of a renaissance.

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Hong Kong stock market

Hong Kong stocks post longest winning streak in 2 months

Alibaba rallies on reports that the e-commerce giant plans to revamp its main app with more AI features that could challenge ChatGPT.

Chinese stock prices are shown on an investor’s mobile phone. Photo: CFOTO/Future Publishing via Getty Images
IPO

Chinese drug developer Biokin postpones Hong Kong listing

Decision likely reflects ‘some pullback in risk appetite, with growth-stock share prices coming off their highs’, Morningstar analyst says.

IPO

Hong Kong IPO market to extend hot streak in 2026, CICC says

While fundraising in mainland China has risen this year, capital flows are unlikely to be diverted entirely from Hong Kong, the bank says.

Hong Kong stock market

Hong Kong stocks hit 1-month high as US shutdown nears end, Fed rate cut looms

A deteriorating US jobs market last month has increased the probability of an interest-rate cut next month.

People walk past an electronic board displaying stock prices in Beijing. Photo: Reuters
China stock market

Chinese gold stocks set to shine as UBS and Schroders see bullion extending gains

UBS sees gold possibly hitting US$4,700, while Schroders expects central banks’ gold purchases to keep prices elevated.

Gold has rallied more than 50 per cent this year, making the metal the best performer across asset classes. Photo: AFP
IPO

China’s top medical equipment maker Mindray applies to list in Hong Kong

The Shenzhen-based company plans to use the listing proceeds for R&D and improve its global sales network and supply chain capabilities.

Hong Kong stock market

Hong Kong stocks hit 1-month high as US shutdown nears end

A reopening of the federal government will help investors regain access to crucial economic data and offer clues on monetary policy.

Currencies

Dollar carry trade defies ‘Sell America’ woes, trounces world’s stocks

A Bloomberg gauge of the US dollar bounced back around 3 per cent from a September low, in part because of the so-called carry trade.

A photo collage of global currencies with the US dollar in the centre. Photo: Agence-France Presse
Berkshire Hathaway

Warren Buffett endorses Greg Abel as successor in final letter to shareholders

Buffett, who transformed Berkshire from a failing textile company to a US$1.07 trillion conglomerate, will be ‘going quiet’.

Berkshire Hathaway chairman Warren Buffett attends Berkshire Hathaway’s annual shareholders’ meeting in Omaha, Nebraska, on May 3, 2024. Photo: Reuters
China stock market

China’s dividend plays steal the spotlight as tech euphoria begins to fade

Investors show a shift from growth to value as investors take profits after a torrid year for tech stocks.

Investing

US investors flock to Japanese equities amid Nikkei’s outsized returns

Japan’s gauge has climbed about 30 per cent in dollar terms this year versus 14 per cent for the S&P 500.

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Hong Kong stock market

Hong Kong stocks rise as China’s consumer prices boost investor confidence

China’s consumer price index rose 0.2 per cent year on year last month, the most since January, according to official data.

China’s first increase in consumer prices since January helped boost Hong Kong stock prices. Photo: Jelly Tse
IPO

Africa-focused hygiene-products maker Softcare jumps 34% on Hong Kong debut

The retail tranche of the IPO was oversubscribed 1,813 times, making it one of the most popular listings in the city this year.

Hong Kong stock market

Hong Kong stocks slump on weak China exports, soft US jobs market

Alibaba, Tencent and Kuaishou lead the declines as Chinese tech giants track the sell-off on Wall Street.

Banking & finance

Opinion | As markets grow more fragile, matter of time before the bubble bursts

The news and stories that move markets could well be a leading indicator of when markets fail.

The floor of the New York Stock Exchange on September 10. Photo: AP
Hong Kong stock market

Hong Kong stocks gain as dip-buying offsets global sell-off

A rebound in US equities overnight provided support for Hong Kong and other Asia-Pacific markets.

A man walks past an electronic display board at the Hong Kong stock exchange. Photo: Xinhua
IPO

4 Chinese firms’ listing debuts mark busy day for Hong Kong stock exchange

Pony.ai, WeRide and Ningbo Joyson fell at the opening bell, while Vigonvita Life surged.

China stock market

Star Chinese fund managers pause subscriptions amid stock market frenzy

The moves by Chen Guangming and Yang Dong indicate that the fund managers are cautious about market prospects.

Banking & finance

HKEX rides rising turnover and IPOs to post record profit of US$628 million

Third-quarter profit jumps 56 per cent from a year earlier to HK$4.9 billion (US$628 million), beating analysts’ estimate of HK$4.7 billion.

The HKEX has benefited from global investors switching to the relative safety of Hong Kong-listed stocks of mainland Chinese companies. Photo: Dickson Lee
Hong Kong stock market

Hong Kong stocks fall for a second day as AI bubble fears hit Wall Street

Losses mirror Wall Street after Palantir Technologies tumbled 8 per cent despite beating revenue estimates.

Hong Kong stocks fell on Wednesday amid fears of an AI bubble. Photo: Shutterstock
IPO

Chinese EV maker Seres’ shares close unchanged in lacklustre Hong Kong debut

Trading under the stock code 9927, Seres’ shares fell as much as 10.3 per cent before closing flat at its IPO price of HK$131.50.

Hong Kong economy

Editorial | Beijing’s full backing for Hong Kong on display at finance summit

Hong Kong has a role to play in global financial governance.

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