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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 Nasdaq Golden Dragon China Index of the biggest Chinese companies listed in the US has risen 1.7 per cent after the Fed’s July rate-decision meeting. Photo: Reuters
US-listed Chinese stocks

Fed uncertainty, AI doubts: the twist benefiting US-listed Chinese stocks

Chinese shares trading overseas are being cast as defensive plays as Fed path confusion shifts money away from US equities and bonds.

IPO

AI stock rout fells Innolight after mega Hong Kong IPO

China stock market

China’s market clean-up: Beijing cracks down on insider trading

Hong Kong stock market

Zhongji Innolight sees rocky start as shares fall on Hong Kong IPO amid AI sell-off

The Chinese firm completed Hong Kong’s biggest IPO of the year, but its debut comes amid waning investor confidence in AI-related stocks.

A view of Exchange Square in Hong Kong. Zhongji Innolight has completed the biggest listing on the city’s stock market so far this year. Photo: Jelly Tse
Banking & finance

HKMA warns of interest-rate risk as traders bet on September rate rise

HSBC, Standard Chartered, Bank of China (Hong Kong) keep their prime and savings rates unchanged, mirroring HKMA’s decision to hold steady.

Artificial intelligence

Hunger for electronic ‘rice’ feeds stock rise for China’s MLCC makers

Shares in Guangdong Fenghua, Suzhou GYZ, Chaozhou Three-Circle and upstream suppliers shoot up as relentless AI demand reshapes market.

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Hong Kong stock market

Why is Zhongji unveiling US$1.2 billion in buy-backs before its Hong Kong debut?

The optical-module maker plans to buy back shares denominated in yuan to anchor pricing before its initial public offering in the city.

A general view of Exchange Square in Central on July 21. Photo: Jelly Tse
Hong Kong stock market

Hong Kong investors hunker down for Fed decision, jumbo IPO

Both a US Fed rate policy meeting and the largest initial public offering in Hong Kong in seven years will occur on Thursday.

China stock market

Trump or trap: should China’s stock market entice investors with ‘good bubbles’?

Analysts say China’s risk-averse financial policy is diverting capital to Wall Street, advising the building of ‘good bubbles’ to promote growth.

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China stock market

Shaky sentiment: Big Short trader’s bearish AI bets test China’s stock support

Burry’s increasing bearish wagers put pressure on Beijing’s stock market intervention as Moody’s flags mounting debt risks.

The global AI trade, alongside a bull run on Chinese technology stocks, has faltered amid doubts over whether data-centre and cloud spending will translate into real cash flows.Photo: Shutterstock
China stock market

Quant funds blamed for China’s market decline. Data suggests they softened fall

Some investors accuse quant funds of accelerating the July decline through share dumping, reigniting suspicions rooted in the 2015 crash.

Some investors argue that quant funds enjoy an unfair advantage over mainland China’s 250 million retail investors. Photo: Shutterstock
IPO

Listing spotlight: tariffs drag Shein back into the red ahead of Hong Kong IPO

Tariffs, war and rising costs squeeze company’s margins as IPO looms, testing investor appetite for fast-fashion.

IPO

Why do mainland Chinese firms refuse to give up on Wall Street IPOs?

As the first half of 2026 sees record-low US debuts for Chinese firms, CSRC data shows a steadfast pipeline of firms keen to list in the US.

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China economy

Opinion | How China aims to turn household savings into a tech financing machine

The old chain of savings flowing into bank deposits is being replaced by one where they are sent into capital markets and tech investment.

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An electronic board shows Shanghai stock indices as people walk on a pedestrian bridge in the Lujiazui financial district in Shanghai on March 2. Photo: Reuters
China’s private sector

How Beijing became China’s biggest tech venture capitalist, from AI to chips

China’s tech sector thrives on state-backed investment, reshaping funding dynamics and sparking a debate about balancing risk and innovation.

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Illustration: Davies Christian
Banking & finance

Hong Kong exchange’s biggest reform in 8 years opens IPO gates

HKEX will allow universal confidential listings and reduce market-capitalisation thresholds for IPOs by start-ups and international firms.

China stock market

Securities watchdog to channel medium- and long-term capital into China markets

Following sharp sell-off, China Securities Regulatory Commission announces raft of measures aimed at maintaining smooth market operations.

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China stock market

Investors fret as China’s A-share divorces echo Bezos’ Amazon split

Retail investors worry about secondary share-price movements following equity transfers resulting from large shareholders’ divorces.

Retail investors worry more about secondary share-price movements following the divorces of large or controlling shareholders in China's A-share market. Photo: Shutterstock
Banking & finance

Shanghai to launch ‘choke point’ tech funds, relax some pre-profit listing rules

The city will unveil dedicated funds and new offshore yuan channels while allowing pre-profit AI and nuclear fusion start-ups to list on the Star Market.

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Artificial intelligence

Macroscope | Emerging markets have a concentration problem. Investors will have to live with it

Investors nervous about the dominance of South Korean and Taiwanese chipmakers can’t afford to ignore them.

Hong Kong stock market

Chinese funds pivot to tech as they cut Hong Kong stock holdings

Chinese mutual funds shifted focus amid market volatility, cutting their share of Hong Kong stocks to 23.3 per cent in the second quarter.

Average daily turnover for southbound Stock Connect trading reached HK$123.1 billion (US$15.7 billion) in the first half of 2026, up 10.9 per cent year on year, according to HKEX. Photo: Jelly Tse
China stock market

China’s star fund manager dumps consumer bets in pivot to AI

Zhang Kun cuts US$3.1 billion fund’s holdings in baijiu and e-commerce as ‘downside pressure on the economy has exceeded expectations’.

A bottle of Mao-tai, a variety of baijiu, is displayed in the window of a shop in Beijing on March 15, 2022. Photo: Simon Song
Robotics

Chinese robot maker AgiBot targets a listing in Hong Kong’s booming market

Leading robot maker plans a Hong Kong IPO with Citic, CICC, and Morgan Stanley as sponsors.

China stock market

Investors eye China’s July Politburo meeting for stock-stimulus clues

‘We may see an acceleration of policy implementation in the near term to support consumer and technology industries,’ an analyst says.

Artificial intelligence

China’s Moonshot AI accelerates fundraising push ahead of planned IPO: source

Per a source, the company closes fundraising round at US$30 billion valuation, as it signals it may go public in next six months.

A general view of Hong Kong Exchanges and Clearing on July 21. Photo: Jelly Tse
China economy

Opinion | China’s stock market intervention is a confidence booster

Amid geopolitical tension and talk of an AI bubble, China needs a stable financial market to underpin economic growth.

People walk on a street beneath a large screen showing the latest stock market and economic data in Shanghai, China, on June 15. Photo: EPA
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

‘Clear signals’: Why China could expand capital outflow channels

As China’s trade surplus grows, signs point to Beijing broadening the opening-up of its capital account amid yuan internationalisation push.

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