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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.
The logo of China’s top memory chipmaker, CXMT, appears on the facade of one of the company’s production facilities, in Beijing. Photo: Reuters
Semiconductors

China’s CXMT posts massive 870% revenue surge as ‘aggressive expansion’ pays off

China’s leading DRAM chipmaker outperforms its own forecasts in its first financial results since a blockbuster Shanghai listing.

Artificial intelligence

China’s ‘rice of electronics’ makers jump on strong profits from AI surge

Hong Kong stock market

Bitcoin rally and Alibaba share purchases: the numbers moving markets

Hong Kong economy

Editorial | HKEX’s role crucial as Hong Kong helps build future of global finance

The city’s stock exchange is set to attract hi-tech mainland manufacturers looking to raise funds even as it forges partnerships overseas.

HKEX CEO Bonnie Chan (third from right) and other executives present the exchange’s interim results on August 19. Photo: Nora Tam
Banking & finance

Tiger, Futu surge overseas after Beijing clampdown strips mainland growth engine

Brokerages shift to Southeast Asia, US and Europe amid Beijing’s stepped-up drive to root out illegal cross-border securities activity.

Hong Kong stock market

Dovish or Hawkish? Markets await Warsh’s Jackson Hole debut for policy clues

Investors are watching closely for shifts in interest-rate and monetary policy during Friday’s symposium.

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HKEX

Exclusive | Hong Kong Exchanges and Clearing explores merging GEM with main board: source

The bourse operator is exploring creating a chapter listing rule to absorb 300-plus firms from the GEM board.

Exchange Square in Central, where the Hong Kong Exchanges and Clearing is located. Photo: Nora Tam
China stock market

Diversification drive after chip sell-off gives China’s private funds a boost

Mutual funds’ net assets under management shrank by 1.4 per cent in July, while private funds grew 8.7 per cent to record high.

China energy security

China’s CNOOC rakes in record first-half profit on high oil prices amid Iran war

China’s largest offshore oil and gas producer saw net profits jump over 23 per cent in the first half amid turbulence in the Middle East.

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China stock market

China dividend stocks back in vogue as AI trade fizzles out and bond yields fall

Shanghai bourse dividend index shows growth of 4.1 per cent for energy, banking and transport industry stocks, beating AI’s 0.2 per cent loss.

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A footbridge with a screen displaying the Shanghai composite index is seen in the financial district of Shanghai on August 19. Photo: AFP
DeepSeek

DeepSeek targets 2027 listing as pre-IPO funding nears close: sources

Landmark round to lift Chinese start-up’s valuation to US$74 billion and set the stage for a Shanghai Star Market listing, sources say.

The DeepSeek logo on a wall in Hangzhou, eastern China's Zhejiang province. Photo: Getty Images
Hong Kong stock market

China rushes to develop Moderna-style cancer vaccines amid market frenzy

Chinese biotech firms are already working on more than 100 cancer vaccines. Now, many are seeing their shares surge amid Moderna’s breakthrough.

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Banking & finance

Alibaba’s record stock sale adds to Hong Kong tech flood

The Chinese tech giant will use the US$10.2 billion in proceeds raised to help fund its artificial intelligence buildout.

Semiconductors

China’s next mega chip listing could break CXMT’s market records

IPO funds to fuel YMTC parent CCSH’s expansion, with nearly US$5 billion set aside to boost chipmaking capacity and accelerate R&D.

While the final offer price and total proceeds have yet to be set, the planned size of YMTC’s listing signals a massive fundraising push. Photo: Reuters
Wealth management

Investment market volatility is ‘here to stay’ unless global recession strikes

Rich investors put on notice as AI advancement and geopolitical risks continue to change market structure, causing instability, says Nomura.

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Julia Wang, chief investment officer for North Asia at Nomura International Wealth Management, in Nomura’s office in Central. Photo: SCMP Pictures
Alibaba

Top Alibaba executives purchase US$15m in shares following landmark AI placement

The personal investments from Joe Tsai and Eddie Wu follow firm’s 710 million share sale, one of China’s largest AI fundraising efforts.

IPO

Shein seeks to raise up to US$1.76 billion in Hong Kong IPO

Based on maximum offer price, IPO would value online fast-fashion retailer at over US$27 billion.

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South Korea

How FOMO lured South Koreans into stock ‘Squid Game’ and left them broke

‘I don’t think I will ever invest in the Kospi again,’ says an emotionally drained retiree who, like others, is reeling from the rout.

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Currency traders watch monitors near a screen showing the Kospi benchmark at the Hana Bank headquarters in Seoul, South Korea, on Friday. Photo: AP
Hong Kong stock market

Hong Kong stock exchange eases listing rules with 12-month application window

Around 500 companies currently have listing applications pending approval in Hong Kong, far above the historical average.

China stock market

Evergrande’s fine, China cuts US Treasury holdings: the numbers moving markets

CXMT’s valuation, Unitree’s listing surge and retirement expectations for Hong Kong’s wealthy are among stories leading this week’s market numbers.

Hong Kong stock market

Hang Seng Index adds major Chinese chipmaker as tech pivot continues

Hong Kong’s bellwether stock index has added two new companies including contract chipmaker Hua Hong Grace Semiconductor.

Hong Kong Exchanges and Clearing in Central. Photo: Nora Tam
Hong Kong stock market

Shein pushes back Hong Kong debut to September amid delayed orders: sources

The fast-fashion firm originally aimed to wrap up its IPO in August, but a delay in investor orders has forced a change of plan, sources say.

A customer holds shopping bags with a Shein logo in Paris, France. Photo: Reuters
Hong Kong stock market

US Treasuries in driver’s seat as Asian investors grapple with elevated yields

Fears of a debt issuance glut swept across the US bond market this week, driving the 30-year yield to a nearly two-decade high.

IPO

‘IPO queen’ Pamela Chung says time is ripe for listing connect scheme

Scheme introduction would allow mainland Chinese investors access to the city’s IPOs and boost investor capital, Vistra managing director says.

IPO

China’s Mech-Mind Robotics set to take orders for US$300m IPO: sources

Developer of 3D cameras and AI software for robots raises target by US$100 million amid investor enthusiasm.

Visitors explore the Mech-Mind Robotics booth during Smart Factory & Automation World 2026 in Seoul, South Korea, on March 5. Photo: NurPhoto via Getty Images
Hong Kong stock market

China fund managers stick with AI, chips this month after July sell-off: survey

Investor interest in defensive shares also surges across Asia as more try to hedge against the downside risks of AI investments.

A footbridge with a screen displaying the Shanghai Composite Index is seen in Shanghai’s financial district of Shanghai on Wednesday. Photo: AFP
China stock market

China’s uneven economic recovery to drive investors back to AI stocks: analysts

The Star Market 50 index of mostly chipmakers rebounded 9 per cent in August, recouping some of the 26 per cent slump in the previous month.

Robotics

Unitree Robotics surges 629% to US$66 billion valuation in Shanghai share debut

Stock jumps as first listing by humanoid robot maker draws 9.8 million retail investment accounts competing for just 9.7 million shares.

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