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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 Star Market 50 index is approaching a previous low triggered by the biggest-ever monthly decline in July. Photo: Reuters
China stock market

Chinese stock margin debt continues to unwind as Treasury yields weigh on markets

The outstanding balance of stocks bought with borrowed money dropped to US$390.1 billion on Thursday after a brief rebound in August.

Banking & finance

AI boom is hiding cracks in US markets, Nomura warns

Wealth management

More than 4 in 5 young mainland Chinese investors turn to offshore assets: study

Semiconductors

Chinese investors scramble for 1-in-4,000 odds in Enflame’s red-hot IPO

The last of China’s ‘four little dragons’ to go public has drawn millions of retail investors, despite odds of securing an allocation at less than 0.03 per cent.

People walk past the Enflame booth during the World Artificial Intelligence Conference in Shanghai on July 17. Photo: Reuters
Hong Kong stock market

Mainland Chinese investors buy Hong Kong AI stocks, sell financials

Net buying surges for third straight month as AI pivot benefits MiniMax, Alibaba and Tencent, while investors eschew traditional industries.

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Energy

As oil tops US$97, US-Iran war escalation has markets bracing for supply risks

Fresh military strikes in the Middle East have sent energy prices surging, leaving traders to grapple with renewed volatility.

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IPO

Why Philippine chain Jollibee chose Hong Kong over New York to list spin-off

Company’s plan to list international arm in Hong Kong underscores city’s IPO diversification drive.

Jollibee has expanded its global footprint across 33 countries and regions. Photo: Eugene Lee
China stock market

China widens access to overseas stocks with QDII quota handout

Expansion aims to ease tight supply of cross-border investment products following crackdown on non-compliant offshore investments.

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China stock market

China’s pension fund doubles offshore investments to record high

Hong Kong market to benefit as lower growth and interest rates make it harder for fund to ‘rely solely on domestic assets’, analyst says.

China stock market

What tech-driven company earnings say about China’s diverging growth paths

AI demand and local chip substitution spark boom for tech firms, leaving traditional industries far behind.

Earnings for firms on the Star Market in Shanghai and the ChiNext board in Shenzhen soared in the first half. Photo: AFP
The Philippines

Philippines’ Jollibee eyes Hong Kong over US to list international unit

The company is separating its international business, Jollibee Foods Corporation International, ahead of its planned spin-off and listing.

Jollibee in Terminal 2 at Hong Kong International Airport. Photo: Edmond So
US sanctions on China

Opinion | Why US sanctions threats against China aren’t credible

Weaponising global payments against Beijing risks triggering a major shock at home – one America’s fragile debt and stock markets cannot afford.

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China stock market

Why foreign inflows into China A shares could slow after record surge

Overseas capital in yuan-traded Chinese stocks faces cooling, as tech sentiment, US yields and yuan strength steer the next phase.

South Korea

South Korea’s top presidential aide resigns following cabinet reshuffle

Kim Yong-beom had drawn criticism over the rapid introduction of single-stock exchange-traded funds and ‘citizen dividend’ proposal.

People visit the Blue House in Seoul on May 10, 2022. Photo: AP
Hong Kong stock market

China’s top brokerages step up global push as overseas profits surge

Citic, CICC and Guotai Haitong among those broadening cross-border deal-making and committing fresh capital to international arms as Beijing backs stronger investment banks.

A Citic Securities sign is seen at a branch in Beijing. Photo: Reuters
Hong Kong stock market

Shein shares recover after 10% drop on Hong Kong debut

The fast-fashion retailer sold 280 million shares at HK$48.56 each, according to an exchange filing Monday.

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China stock market

What’s driving the surge in foreign positions across yuan-traded Chinese stocks?

Foreign exposures to yuan-traded stocks jump by a third, with QFII data showing holdings surging to more than US$40 billion.

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United States

Warsh signals US Fed may need to raise rates if above-target inflation lingers

This was the closest he has come to acknowledging interest rate hikes may be needed to ease price pressures.

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Federal Reserve Chairman Kevin Warsh attends a dinner at the Jackson Hole Economic Symposium on Thursday in Wyoming. Photo: Getty Images via AFP
HKEX

HKEX Tech 100 adds Pony AI, WeRide in index revamp targeting AI stocks

The revision is designed to help the tech index recover from an underwhelming first half by tapping a new generation of Chinese AI firms.

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

CCTC and Guangdong Fenghua have reported strong first-half results as AI data centre demand drives MLCC orders and a global pricing upcycle.

Multilayer ceramic capacitors, ubiquitous components known as the "rice" of the electronics industry. Photo: Shutterstock
Hong Kong stock market

Bitcoin rally and Alibaba share purchases: the numbers moving markets

Alibaba shares, bitcoin, Hong Kong second-hand home prices and Shein’s IPO plans in spotlight this week.

Dress form mannequins bearing Shein logos at a garment factory in Guangzhou’s Panyu district last month. Photo: Reuters
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.

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.

US Federal chairman Kevin Warsh holds a press conference on July 29. Photo: Reuters
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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