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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.
Manycore Tech is positioning itself at the intersection of artificial intelligence and the physical world. Photo: Getty Images
IPO

Manycore, one of Hangzhou’s ‘Six Little Dragons’, surges on Hong Kong IPO debut

The company’s listing highlights its pivot from design tools to advanced AI-driven spatial platforms as it eyes overseas growth.

CATL

CATL market cap tops US$293 billion as shares surge on mining arm

IPO

Sigenergy jumps 103% in Hong Kong debut on rising energy storage demand

Banking & finance

Mark Mobius, pioneering investor in China, dies at 89

‘Father of emerging markets’ was among the first fund managers to champion investments in Hong Kong and mainland China.

Mark Mobius, pictured during a media event on May 30, 2024, in Hong Kong. Photo: Enoch Yiu
Artificial intelligence

Lightelligence on track with IPO plans as China’s AI photonics race gathers pace

Shanghai-based company aims to become Hong Kong’s first listed AI photonics chipmaker as AI infrastructure buildout drives momentum.

China stock market

Hong Kong stocks rise as hopes of US-Iran talks ease oil price fears

Hong Kong stocks advance on US-Iran dialogue hopes, falling oil prices and Wall Street gains.

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China stock market

Stocks claw back most US-Iran war losses amid hopes diplomacy will prevail

The oil shock has already fuelled inflation expectations, which may prompt the Federal Reserve to tighten monetary policy.

An electronic stock board showing Japan’s Nikkei index at a securities firm in Tokyo, April 14, 2026. Photo: AP
Artificial intelligence

Victory Giant joins IPO push by China’s circuit-board makers amid AI frenzy

Nvidia supplier aims to raise up to US$2.2 billion in Hong Kong as AI data centre demand makes boards ‘all the rage’.

Hong Kong stock market

Chinese EV stocks jump on surging exports, domestic demand hopes

Nio, BYD and Xpeng advance after data shows EV exports more than doubled to just under 1 million in the first quarter.

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Hong Kong stock market

Stocks drop and oil surges back above US$100 as US blockade of Hormuz escalates war

Stock markets across Asia fell, with Japan’s Nikkei losing 0.7 per cent and South Korea’s Kospi dropping 0.9 per cent.

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Cargo ships near the Strait of Hormuz. US President Donald Trump said that American forces would block the strait on Monday after peace talks with Iran collapsed. Photo: Reuters
Bonds

China reflation bets waver as bond gains outpace sluggish equities

Despite a pickup in inflation data, economists warn that commodity pressures, not underlying demand, are driving China’s price gains.

The oil shock has clouded the inflation outlook, making it difficult to determine whether China had truly emerged from its multi-year deflationary phase. Photo: Xinhua
Hong Kong economy

Hong Kong balancing security and innovation as nation’s ‘firewall’: Paul Chan

Finance chief says security is key to China’s high-quality growth as geopolitical tensions create risks to energy supplies and financial markets.

IPO

What does China’s tightening grip on red-chip structures mean for IPOs?

China’s tougher stance on red-chip structures is reshaping the tech listing pipeline, adding uncertainty for companies targeting Hong Kong.

Hong Kong stock market

Can Hong Kong’s listing reform 2.0 win over innovative firms?

The reforms enhance the city’s appeal for AI, biotech and other firms by slashing the market cap threshold and enabling confidential filings.

Illustration by Henry Wong
China stock market

China loosens ChiNext listing rules as it doubles down on tech self-reliance

Beijing widens IPO access for emerging tech companies while tightening oversight, as it seeks to balance innovation with market stability.

The reforms are aimed at promoting technological innovation, a core priority under China’s latest five-year plan approved in March. Photo: Xinhua
China stock market

China stocks advance as ceasefire hopes lift Shanghai and Hong Kong benchmarks

Mainland China and Hong Kong markets gain ground as easing political tensions and stronger factory-gate prices lift sentiment.

Banking & finance

Data errors push Xin Hua Fund into spotlight after rare central bank warning

The incident marks an unusual intervention by the People’s Bank of China, which typically leaves oversight of mutual funds to the securities regulator.

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Banking & finance

Yiwu market owner eyes Hong Kong IPO to support overseas expansion

Hong Kong listing plan comes after the company reported net profit of 4.2 billion yuan for 2025, up 36.8 per cent from a year earlier.

A shop owner holds a toy depicting US President Donald Trump at the Yiwu International Trade Market in Yiwu, Zhejiang province on April 10, 2025. Photo: AFP
US, Israel war on Iran

Why the US-Iran ceasefire is seen as a failure for Donald Trump

As the two sides prepare to meet in person in Pakistan, analysts identify American leader’s miscalculations leading to weaker footing.

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United States

Trump lauds Beijing role in Iran truce, but clouds ceasefire with tariff threat

Markets rise on fragile pause in fighting, as Tehran keeps Hormuz shut and warns it may abandon deal if Israeli strikes on Lebanon continue.

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Hong Kong stock market

Stocks rise and oil slumps on US-Iran truce as Alibaba leads AI charge

Asian stocks found footing and oil plunged after a two-week ceasefire was reached, subject to Tehran’s vow to completely reopen the Strait of Hormuz.

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Hong Kong stocks rose sharply on Wednesday after the US and Iran agreed to a two-week ceasefire. Photo: SCMP
Artificial intelligence

Chinese AI glasses maker Rokid planning Hong Kong IPO: sources

Listing plan comes as giants Apple, Meta, Alibaba, Baidu, Xiaomi and Huawei, plus start-ups like Xreal, Rayneo, anticipate market growth.

A staff member demonstrates a pair of smart glasses developed by Hangzhou-based Rokid at a store in Yingtan, in east China’s Jiangxi province, on July 10, 2025. Photo: Xinhua
China stock market

China tightens trading scrutiny on major shareholders and executives

New CSRC rules curb short-term trading by major shareholders to boost investor confidence and encourage long-term market participation.

China stock market

China IPOs jump 56% as regulator eases restrictions to drive tech innovation

Funds raised on the mainland’s three exchanges in the first quarter topped 25.7 billion yuan, compared with 16.5 billion yuan a year earlier.

Mandatory Provident Fund (MPF)

Hong Kong’s MPF set to report worst performance in 3 years in March

The MPF funds’ monthly showing was the worst in three years as they tracked the Hang Seng Index, which also fell to a three-year low.

The MPF’s March performance is expected to make for poor reading for the scheme’s 4.8 million members. Photo: May Tse
Hong Kong stock market

China’s Pop Mart struggles despite buy-backs as Labubu reliance sparks concerns

Toymaker’s shares have fallen nearly 50 per cent since February as investors weigh slowing overseas growth and dependence on flagship line.

Pop Mart has stepped up efforts to support its share price through buy-backs. Photo: Getty Images
Banking & finance

Opinion | From the US to Hong Kong, there’s no excuse for insider trading

Far from a victimless crime, insider trading steals from the rest of us by unfairly using knowledge that is available only to the privileged.

United States

US crude tops US$110, Wall Street falls after Trump vows more Iran attacks

Crude prices had been inching back towards US$100 per barrel before Trump’s Wednesday address in which he promised more strikes on Iran.

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