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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.
Zhongji Innolight is set to launch its initial public offering in Hong Kong on July 30. Photo: Jelly Tse
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

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China stock market

Why China’s market rescue matters for a durable bull run and strategic tech push

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Chinese offshore investment

Beijing targets offshore tax dodging, intensifying cross-border capital scrutiny

Major financial outlets blast offshore shell structures after case involving the Hong Kong entity of a mainland social media platform.

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A mobile screen shows the Momo dating app, operated by Hello Group, which was required to pay hundreds of millions of yuan in back taxes this year. Photo: Simon Song
Hong Kong stock market

SpaceX slump fails to dent Hong Kong tech as investors seen pivoting

Heavyweights such as Alibaba gain as analysts bet on business models of locally listed tech companies that differ from US counterparts.

HKEX

Exclusive | HKEX eyes confidential filings, lower market cap threshold for start-ups

HKEX is moving towards closed listings to compete with other exchanges that allow for confidentiality.

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Banking & finance

Hong Kong bourse weighs longer hours amid pressure from global peers: sources

Nasdaq’s 23-hour expansion and London’s round-the-clock push pile pressure on Hong Kong to rethink its shorter trading day.

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HKEX says it is in talks with the SFC on trading hours, without giving specifics. Photo: Jelly Tse.
China stock market

Citi bets on China amid AI volatility, geopolitical friction

Wall Street giant adjusts emerging market asset allocation recommendation, identifying China as benefiting from a broadening market rally.

China stock market

CSRC’s Wu vows ‘stable market’ as A-shares rebound on concerted buying

The CSRC pledges to stabilise the market after meeting with investor representatives to talk up stocks.

Hong Kong economy

Editorial | Caution warranted over tech threat, investors’ AI exuberance

Hong Kong and mainland China have the expertise to prepare for an AI market downturn and the security threat of quantum computers.

A giant electronic monitor shows the Hang Seng Index in Central on June 26. Photo: Edmond So
China stock market

Open Questions | Citic Capital’s Zhang Yichen on the ABCs of China’s markets: IPOs, M&As and AI

The CEO discusses China’s evolving capital markets and why multinationals are turning to local partners amid shifting geopolitical dynamics.

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Illustration: Henry Wong
Japan

Macroscope | Why Japan should be able to weather a US market crash

Successive Japanese governments have spent decades building financial infrastructure that other Asian countries can emulate.

Donald Trump

Trump Media pitched US$100,000 fee for fastest feed of US president’s posts

The US president’s posts often move markets, and even a tiny speed advantage can lead to big gains on trades for investors.

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Banking & finance

China speeds up new overseas quotas to expand global reach of domestic investors

Move to expand QDII quotas signals a deeper opening of China’s markets and growing appetite for global assets.

A large screen shows stock exchange and economy data in Shanghai. Photo: EPA
Semiconductors

Chinese memory giant CXMT oversubscribed 212 times in mega Shanghai IPO

Nearly 10 million investor accounts apply for a rare listed proxy on Beijing’s semiconductor self-reliance drive.

A view of the headquarters of ChangXin Memory Technologies in Hefei, in eastern China’s Anhui province, on July 16. Photo: AFP
Hong Kong stock market

Hong Kong tech resilience tested as South Korea’s Kospi slides into bear market

Foreign investors have pulled US$110 billion from Seoul this year, rotating into undervalued Chinese giants as momentum seen slowing for expensive tech stocks.

Banking & finance

How AI and chip boom is propelling Hong Kong’s ETP market to new heights

Hong Kong is already the world’s fourth-largest market for exchange-traded products, and the rapid growth in trading is set to continue, director says.

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Banking & finance

Diversify away from US markets to shield savers, ex-World Bank official warns

Oxford’s Ian Goldin says extreme concentration of capital in tech giants exposes global investors to a looming and painful valuation reversal.

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Ian Goldin, former vice-president of the World Bank, speaks at the Sina Finance Global Capital Summit in Hong Kong on Thursday. Photo: May Tse
China stock market

South Korea’s debt-heavy market could drive global tech volatility, analysts say

China has taken deleveraging actions amid wake-up call from South Korean market volatility.

Hong Kong stock market

Goldman Sachs backs HKEX with ‘buy’ rating, citing Beijing’s policy support

Shares of HKEX have lost about 5 per cent so far this year, roughly in line with the performance of the Hang Seng Index.

China stock market

Chinese AI stock trade remains intact despite 10% correction, Fed jitters

Global investors’ diversification into Chinese assets coupled with strong AI earnings could make the pullback in tech stocks short-lived.

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People walk beneath a large screen showing the latest stock exchange and economic data in Shanghai. The tech-centric Star Market 50 Index has experienced a decline of more than 10 per cent in the last two weeks. Photo: EPA
IPO

China’s CXMT valued at US$85 billion in record Shanghai IPO

Chinese DRAM maker is set to raise 57.9 billion yuan (US$8.5 billion), nearly twice the amount earmarked for its investment projects.

China’s top maker of computer memory chips, CXMT, is eyeing a record IPO in Shanghai. Photo: Reuters
IPO

Waning appetite: why mainland Chinese F&B stocks are losing favour in Hong Kong

IPO lapses and sliding share prices underscore how weak consumption is dulling Hong Kong’s appetite for mainland China’s food sector.

Hong Kong stock market

What Labubu fatigue? Star investor buys bigger stake in Pop Mart

China’s answer to Warren Buffett now owns a 7.65 per cent stake in the toy brand, despite a lukewarm reception for the new Labubu Hair Salon series.

China stock market

Chinese hard tech giants see market value surge as overseas capital pours in

Under the mainland-Hong Kong Connect programme, northbound holdings rise to record high of 3.13 trillion yuan by end of June.

Pedestrians beneath a large screen showing the latest stock market and economic data in Shanghai on June 15. Photo: EPA
Semiconductors

Meet CXMT’s Zhu Yiming: the man building China’s memory-chip giant

From a Silicon Valley garage to China’s largest DRAM maker and a US$4.4 billion IPO, Zhu reportedly refused pay until CXMT became profitable.

Zhu Yiming’s bet that memory-chip production would migrate to China was placed long before he founded CXMT. Photo: Handout
China stock market

Star Market at 7: tech-centric exchange powers China’s innovation rise

Attracting capital behind breakthroughs in frontier fields, the market is a key part of Beijing’s drive for technology self-reliance.

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IPO

Shein receives approval for Hong Kong IPO from Chinese regulators

Beijing clears the online retail giant to seek an initial public offering in Hong Kong, after its plans to float in London and New York hit a dead end.

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