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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.
last updated:
9 September, 2024
Women walk past by a display showing the Shanghai stock market index. Photo: AP Photo
China stock market

China stocks waver as central bank abstains from rate cut

China stocks trade sideways as investors pile into ICBC and other high-dividend stocks.

US-China tech war

Chinese surveillance tech firm Dahua exits projects in Xinjiang

Hong Kong stock market

Hang Seng Index closes above 20,000 on mainland Chinese buying

Hong Kong stock market

Hong Kong derivatives trading hits record high amid market volatility

More than 377 million futures and options have changed hands on the exchange this year, an increase of 14 per cent from a year earlier.

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China’s stimulus bazooka helped spur Hong Kong’s derivatives market. Photo: Edmond So
Banking & finance

Ex-Citigroup stock trader wins unfair dismissal case in Hong Kong

Citigroup was also sued by traders it fired in London and Tokyo before being fined by the SFC in 2022.

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Hong Kong stock market

Hong Kong stocks rally after Trump changes tune on TikTok ban

President-elect’s softening stance on the Chinese video app may lead to improvement in US-China ties.

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China economy

Chinese toymaker Pop Mart’s 370% surge fuelled by blind box collectibles

Pop Mart’s blind box toys have become a global sensation, turning the toymaker into the hottest Chinese growth company.

Pop Mart earns most its revenue from proprietary intellectual property products. Photo: Shutterstock
China economy

Laopu Gold outshines Chow Tai Fook as China’s top jeweller with 437% stock surge

The Beijing-based ‘old shop’ jeweller’s unique luxury strategy draws comparisons with Cartier and Tiffany.

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Hong Kong stock market

Hong Kong stocks end week lower as traders look for catalysts

Tencent advances 2.7 per cent on move to introduce a gifting tool on its WeChat platform; chipmaker SMIC jumps 8.2 per cent.

Ant Group

Chinese fintech giant Ant denies imminent restart of IPO process

Amid rife speculation, the company says it has no current plans to go public or pursue a back-door listing.

An Ant Group building in Hangzhou, China. Photo: Shutterstock
HKEX

HKEX unveils reforms to boost Hong Kong’s IPO market so it can reclaim top spot

Changes to board representation and listing rules are aimed at making Hong Kong a more attractive listing destination, HKEX says.

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Hong Kong Exchanges and Clearing is the operator of the world’s fourth-largest stock market. Photo: Edmond So
China economy

Macroscope | Never mind stimulus, rebalancing is China’s real economic challenge

The problem is not China’s leaders lacking the will to enact large-scale stimulus but whether it will work given the present challenges.

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Hong Kong stock market

Hong Kong shares fall after Fed signals slower easing next year

Federal Reserve’s hawkish forecast for just two rate cuts next year dampens sentiment.

IPO

Hong Kong IPO: actor Roger Kwok’s Herbs Generation ends up 10% on debut

The healthcare company’s shares were oversubscribed 6,083 times after they were priced at the low end of the range at HK$3.75.

Herbs Generation Group has been co-founded by TV actor Roger Kwok (centre) and his sister. Photo: Facebook/Herbs Generation Group
Banking & finance

NWD to focus on corporate strategy as stock slides amid debt crisis

The company’s shares slipped 6.7 per cent to HK$5.27 on Wednesday, bringing the slide this year to 55 per cent.

Chairman Henry Cheng Kar-shun last month picked a new CEO, Echo Huang Shaomei, to tackle New World Development’s debt crisis and boost sales. Photo: Dickson Lee
Banking & finance

China’s record-low government bond yields spark fresh warning from central bank

Institutions are being warned as bearish investor sentiment, and an expectation of lower interest rates, continue to make the bond market a sought-after haven.

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China stock market

China says executives at SOEs will be judged on the performance of their stocks

Guidelines affect 409 mainland-listed companies with a combined market value of US$3.8 trillion.

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Hong Kong stock market

Hong Kong stocks rise amid bid to unlock mainland Chinese state firms’ value

China’s state assets watchdog also included proposals on M&As, market-oriented reforms, information disclosure and stock buy-backs.

Hong Kong stocks rose after two days of declines. Photo: Reuters
Hong Kong stock market

Hong Kong stock exchange to reduce minimum price changes to boost liquidity

The reform aims to lower overall transaction costs and support a more efficient price-discovery process, says HKEX deputy CEO.

Banking & finance

Chinese IPOs surge in Hong Kong as Minieye and Guming line up

The maker of autonomous-driving technology aims to raise US$100 million and the bubble-tea purveyor seeks up to US$500 million.

Hong Kong stock market

Hong Kong stocks end nearly 1% lower on disappointing China data

China’s retail sales growth in November misses analysts’ estimates, while property investment slows further.

An electronic monitor displays various indices of the Hong Kong stock market. Photo: Eugene Lee
E-commerce

Shein’s UK IPO slowed by challenge from Uygur NGO alleging Xinjiang cotton use

Britain’s Independent Anti-Slavery Commissioner has also raised concerns over allegations about the fast-fashion firm’s labour practices.

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Shein is facing hurdles in its pursuit of a London IPO in part because of allegations about its China sourcing and labour practices. Photo: Reuters
Hong Kong stock market

Hong Kong stocks fall after China’s economic policy meeting underwhelms

Statement from China economic conference devoid of concrete details about what stimulus measures government would take next year.

India

Surging wealth of India’s billionaires raises concerns about rising inequality

The wealth of billionaires in India has risen to US$905 billion, according to a report by UBS, outpacing the country’s economic growth.

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Banking & finance

Chinese soy sauce maker Foshan Haitian eyes dual listing in Hong Kong

The Foshan-based condiment maker’s board has given the go-ahead for the fundraising plan.

Soy sauce produced by Foshan Haitian Flavoring & Food is seeking to raise funds in Hong Kong. Photo: VCG via Getty Images
Millionaires and billionaires

Elon Musk’s net worth tops US$400 billion in historic first

The most recent catalyst was an insider share sale of his privately held SpaceX, which boosted Musk’s net worth by some US$50 billion.

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Elon Musk jumps on stage as he joins Donald Trump during a campaign rally in Butler, Pennsylvania on October 5. Photo: AFP
Hong Kong stock market

Stocks advance as investors await details from China economic meeting

China’s economic work conference is expected to conclude on Thursday.

Donald Trump

Trump is named Time’s Person of the Year, rings NYSE’s opening bell

The ringing of the bell is a powerful symbol of US capitalism, and Trump has never done it before despite decades as a New York businessman.

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