Date
16 July 2019

Markets

  • If the Fed stands firm and does not cut rates, gold prices might suffer. Photo: Reuters

    Gold: Impact from US and Chinese policies

    - Jul 15, 2019 4:58pm
    Gold prices have been on a wild ride. Between 2000 and 2011, they rose from US$280 to around US$1,900 per ounce before falling back to US$1,050 in 2015. Currently, they are trading at around US$1,400 an...
  • Richard Branson wants to cash in on burgeoning demand for space travel. Photo: AFP

    Richard Branson’s Virgin Galactic to go public by year-end

    Jul 10, 2019 7:32am
    British billionaire Richard Branson will take Virgin Galactic public by year-end, giving it the much-needed funds to take on Jeff Bezos’ Blue Origin in the race to space, Reuters reports. The company will list its shares...
  • The securities regulator has given the go-ahead for 25 companies to list on the STAR Market. Photo: China Daily/Reuters

    Nine firms set prices for IPOs on China’s Nasdaq-style board

    Jul 9, 2019 10:03am
    Nine Chinese companies, among the first to list on China’s Nasdaq-style tech board, announced prices of their new share offer on Tuesday, as investors braced for a busy week for initial public offerings (IPOs), Reuters reports....
  • Xiaomi shares worth some HK$43 billion are ready to be traded this week, accounting for over 18 percent of its total issued capital. Photo: AFP

    Xiaomi shareholders sat on 40 percent loss in first year

    - Jul 8, 2019 2:23pm
    The first year of Xiaomi Corp. (01810.HK) as a listed company was far from satisfactory. Its stock has dropped 41.5 percent as of last Friday, two days before its first anniversary. The Chinese technology giant is not...
  • Large state-owned corporations in China often have to serve the government agenda in addition to pursuing profit. Photo: Reuters

    Free economy is cornerstone of a booming equity market

    - Jul 4, 2019 11:44am
    As US-China trade tensions ease, mainland firms listed in Hong Kong have been doing quite well lately on the stock market. Yet that doesn’t necessarily mean investors should chase them. Looking closer, we find that many...
  • Facebook’s announcement that it would offer its own cryptocurrency has revived interest in bitcoin and other digital currencies. Photo: Bloomberg

    Bitcoin pulls back after rally, falls below US$11,000

    Jun 28, 2019 8:17am
    A pullback in prices of bitcoin deepened on Thursday, falling over 16 percent to below US$11,000 after jumping to an 18-month high of nearly US$14,000 earlier this week amid optimism about the widening usage of digital...
  • Bitcoin has risen more than 260 percent so far this year, although it remains below its all-time high of nearly US$20,000 hit in December 2017. Photo: Bloomberg

    Bitcoin soars past US$13,000 as Facebook’s Libra fuels demand

    Jun 27, 2019 7:31am
    Bitcoin jumped to an 18-month high as investors cheered prospects that Facebook Inc.’s Libra token could push cryptocurrencies into the mainstream, Reuters reports. The world’s biggest cryptocurrency has surged in value since April and on Wednesday...
  • Uber CEO Dara Khosrowshahi sought to allay investor worries over recent volatility in the stock price. Photo: Reuters

    Uber chief blames US trade policy for lackluster IPO

    Jun 12, 2019 8:21am
    Uber Technologies chief executive Dara Khosrowshahi said the company’s initial public offering last month was hurt by US trade tensions even as he downplayed recent volatility in the stock price, Reuters reports. The comments from Khosrowshahi...
  • Luckin Coffee currently operates 2,370 stores in 28 Chinese cities and plans to open 2,500 more this year. Photo: Bloomberg

    Luckin Coffee seeks to raise up to US$586.5 million in IPO

    May 7, 2019 7:30am
    Luckin Coffee Inc., the Chinese challenger to Starbucks Corp., is looking to raise up to US$586.5 million, Reuters reports, citing the company’s filing with the US Securities and Exchange Commission. The company said it expects to...
  • Berkshire Hathaway chairman Warren Buffett and vice chairman Charles Munger are mobbed by media representatives and fans before the company's annual shareholder meeting in Omaha, Nebraska, on Saturday. Photo: Reuters

    The longest, most boring – unproductive? – Warren Buffett show

    - May 6, 2019 12:26pm
    It’s probably the longest talk show on earth – and hosted by the oldest men to lead such an affair.   I am, of course, talking about Berkshire Hathaway’s annual shareholders’ meeting in Omaha, Nebraska, over the weekend.  It...
  • Ethan Brown (with beard), founder and CEO of Beyond Meat, rings the opening bell with company executives and guests during the stock's trading debut at the Nasdaq Market site in New York on Thursday. Photo: Reuters

    Beyond Meat share price more than doubles in market debut

    May 3, 2019 8:18am
    Shares of US vegan burger maker Beyond Meat Inc. rose more than 160 percent in their market debut on Thursday, as investors look to cash in on the first publicly listed veggie meat company and the...
  • Uber is seeking to be valued at between US$80 billion and US$90 billion. Photo: Bloomberg

    Uber set to kick off investor road show with IPO terms

    Apr 26, 2019 8:32am
    Ride-hailing company Uber Technologies Inc will unveil terms for its initial public offering on Friday, telling investors it will seek to be valued at between US$80 billion and US$90 billion, Reuters reports, citing people familiar with...
  • PTT Oil & Retail, which includes gas stations, coffee shops and convenience stores, could raise about US$2 billion in its IPO. Photo: Reuters

    Thailand set to be Southeast Asia’s hottest IPO market this year

    Apr 25, 2019 2:51pm
    Thailand is set to see the most funds raised from initial public offerings in Southeast Asia this year, with more than US$5 billion expected to be garnered in the second half, Reuters reports. Southeast Asia’s second-largest...
  • Luckin Coffee has been expanding at breakneck speed as it seeks to displace Starbucks as the top player in the China coffee market. Photo: Bloomberg

    China’s Luckin Coffee files for US listing

    Apr 23, 2019 9:26am
    Beijing-based coffee chain Luckin Coffee on Monday filed for an initial public offering in the United States as it aims to expand its store network and boost its operations further in China. The Chinese startup, which...
  • Pinterest priced its IPO at US$19 per share, above expectations, to fetch a valuation of US$12.66 billion. Photo: Reuters

    Pinterest raises US$1.4 billion in IPO

    Apr 18, 2019 9:07am
    Pinterest Inc raised around US$1.4 billion in its initial public offering (IPO), fetching a roughly US$12.66 billion valuation, above its expectations, Reuters reports. Pinterest, the online scrapbook where users save ideas for clothes, décor and recipes,...
  • Uber had 91 million users but lost US$3.03 billion in 2018 from operations. Photo: Reuters

    Uber unveils IPO with warning it may never make a profit

    Apr 12, 2019 8:35am
    Uber Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said in its initial public offering filing, Reuters reports. The document gave the first comprehensive...
  • Lyft will release its financial results for the first fiscal quarter ended March 31 after the market closes on May 7. Photo: AFP

    Lyft shares hit new low amid Uber IPO chatter

    Apr 11, 2019 8:59am
    Shares of recently listed Lyft Inc fell to a fresh low and closed down almost 11 percent on Wednesday on news that rival Uber Technologies Inc was close to filing its own initial public offering, Reuters...
  • The London Stock Exchange is waiting to see if Britain’s markets watchdog will impose restrictions on where shares can be traded in case of a no-deal Brexit. Photo: Bloomberg

    London Stock Exchange prepares for no-deal Brexit

    Apr 9, 2019 9:23am
    The London Stock Exchange said its pan-European platform Turquoise would shift trading in euro-denominated shares to its new Dutch hub if Britain leaves the European Union at the end of the week without a deal, Reuters...
  • Li Ruigang, chairman of China Media Capital, is known for his big appetite for mega deals in the media industry. Photo: Reuters

    Chinese Murdoch wants to list his media assets

    - Apr 1, 2019 4:11pm
    Last month Australian-born American media mogul Rupert Murdoch completed his deal of the century with the sale of most of 21st Century Fox’s entertainment assets to The Walt Disney Company. Li Ruigang, dubbed as China’s Murdoch,...
  • The success of Lyft’s IPO indicates many investors were willing to overlook uncertainty over the company’s path to profitability. Photo: AFP

    Lyft valued at US$24.3 billion in first ride-hailing IPO

    Mar 29, 2019 7:43am
    Lyft Inc was valued at US$24.3 billion in the first initial public offering (IPO) of a ride-hailing startup on Thursday, raising more than it had set off to do, Reuters reports. Lyft’s IPO sets the stage...

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