Date
23 October 2017

Markets

  • Tencent Holdings controls China Literature with a 62 percent stake. Photo: HKEJ

    Tencent’s China Literature eyes US$1.1 bln in Hong Kong IPO

    Oct 23, 2017 11:34am
    China Literature Ltd., China’s largest online publishing and e-book company, launched an initial public offering for up to US$1.1 billion on Monday, seeking funds for acquisitions and to expand its digital publishing business, Reuters reports. Tencent...
  • Luo Jun, co-founder and chief executive of Tujia.com, speaks at a conference in China. The new funding round values Tujia at US$1.5 billion. Photo: WSJ

    China’s online vacation rental startup Tujia raises US$300 mln

    Oct 11, 2017 8:08am
    Tujia.com, China’s largest domestic rival to online home-rental platform Airbnb Inc., raised US$300 million in financing as it bulks up for battle with its US competitor and looks to further tap big-spending Chinese tourists overseas, the...
  • Hong Kong equities could scale new peaks if China makes good progress in its economic restructuring attempts. Photo: Reuters

    The bull run may be just getting started

    - Sep 20, 2017 1:20pm
    I had earlier set a two-year target for Hong Kong’s benchmark index at 40,000, with the forecast resting on the assumption that China will succeed in its economic restructuring attempt. Some of my friends in mainland China...
  • Alibaba's Jack Ma is cashing in on a spurt in the company's share price this year. Photo: Reuters

    As a tycoon trio offload shares, is it time for us to cash out?

    - Sep 15, 2017 6:47pm
    How do you capitalize on a bull market run that lasts for nine months? Sell in fall! Well, this is what three mainland tycoons — interestingly, all of them bearing the surname Ma — have set...
  • China Unicom plans to raise 77.9 billion yuan through an ownership reform plan that has been billed as a model case for revitalizing Chinese state firms with private capital. Photo: Reuters

    China Unicom shares surge after regulator backs reform plan

    Aug 21, 2017 1:22pm
    China Unicom’s US$11.7 billion ownership reform plan does not violate rules, the nation’s securities regulator said, helping shares in the telecom group’s units surge as they resumed trade on Monday after speculation that the deal was...
  • China’s key stock indices have climbed steadily since March 2016, while the country’s blue-chip benchmarks have performed better than the Dow Jones Industrial Average and S&P 500 this year. Photo: AFP

    China market regulator lifts emergency measures

    Aug 17, 2017 9:07am
    Chinese regulators declared victory over the country’s famously unruly stock markets, saying conditions are now calm enough that they have removed the emergency measures put in place to support equities following crashes in 2015 and 2016,...
  • A correction in equity prices is overdue, and the downward pressures could last a while, according to a market observer. Photo: Reuters

    Why it’s too early to be over-excited at the market rebound

    - Aug 16, 2017 11:38am
    Following a slide last week on US-North Korea tensions, most stock markets in Asia rebounded on Monday. But don’t get over-excited by that. A correction in equity prices is overdue, and I expect downward pressures to...
  • Following its recent slide on US-North Korea tensions, the Hong Kong market's prospects depend on how quickly the benchmark index regains the 27,500 level. Photo: China Daily

    What to make of the recent market pullback?

    - Aug 15, 2017 4:41pm
    Portfolio management is all about maximizing gains from your winning hands and minimizing losses from your bad trades. To do that, a rule of thumb is to be aggressive when market is showing signs of strength...
  • The Dow Jones Industrial Average rose 0.24 percent to end at 22,016.24, a record high. Photo: Reuters

    Dow cracks 22,000 as Apple surges to record high

    Aug 3, 2017 8:09am
    The Dow climbed above the 22,000 mark for the first time on Wednesday, buoyed by Apple’s healthy quarterly iPhone sales, while weakness in other tech stocks held back the Nasdaq and S&P 500, Reuters reports. Apple...
  • The Chicago Stock Exchange executes less than 0.5 percent of US stock transactions. Photo: Wikipedia

    Chicago Stock Exchange sale to China-based group opposed

    Jul 11, 2017 8:07am
    Eleven US lawmakers asked the Securities and Exchange Commission to stop the sale of the Chicago Stock Exchange to a group led by China-based investors, saying the regulator lacks the ability to monitor the foreign buyers,...
  • Analysts said they expect Snap to be volatile in the near term as more than 700 million shares potentially come out of their lock-up period later this month. Photo: Reuters

    Snap shares fall below US$17 IPO price for first time

    Jul 11, 2017 7:48am
    Shares of Snap Inc. slipped below their initial public offering price of US$17 for the first time on Monday, signaling waning investor confidence in the social media company’s growth potential as it faces fierce competition. The...
  • Tencent's online publishing and e-book subsidiary is expected to raise up to US$800 million in a Hong Kong IPO. Photo: Bloomberg

    Tencent’s online publishing unit files for Hong Kong IPO

    Jul 4, 2017 4:27pm
    China Literature Ltd., an online publishing and e-book unit of Tencent Holdings, has filed for a Hong Kong initial public offering that could raise as much as US$800 million. In a stock-exchange filing late Monday, the...
  • The scheme links China's US$9 trillion bond market with overseas investors. Photo: Reuters

    Brisk trade marks launch of China-Hong Kong bond connect scheme

    Jul 3, 2017 3:53pm
    China and Hong Kong launched a long-awaited “bond connect” scheme on Monday that links China’s US$9 trillion bond market with overseas investors, Reuters reports. It’s the latest step in Beijing’s efforts to liberalize and strengthen the...
  • The Four Pillar Industries – financial services, trading and logistics, producer and professional services, and tourism – experienced major changes in the past two decades. Photo: Reuters

    20 years after handover: Four major economic issues we examined

    - Jun 28, 2017 4:03pm
    Time flies when you’re having a full plate, and in the blink of an eye, our group Economics 3.0 has been churning out articles in Hong Kong print media for five years now. On the eve...
  • Fosun Group's Hong Kong and mainland-listed shares took a sudden dive after reports that the company is being investigated. Photo: Reuters

    Fosun, Wanda, Anbang and HNA being investigated: WSJ

    Jun 22, 2017 4:59pm
    Banks in China have been ordered to investigate loans made to the country’s top overseas deal makers, the Wall Street Journal reports. These include Anbang Insurance Group Co., HNA Group, Fosun International Ltd. (0656.HK) and Wanda Group. ...
  • International fund managers may have to acclimatize to A shares’ trading environment, much like how the Mongol warriors were 'tamed' by the ancient Han. Photo: Reuters

    China’s MSCI inclusion: What next after the milestone?

    - Jun 21, 2017 1:29pm
    China’s entry into the MSCI global indices is a historic milestone. The MSCI inclusion is small, but slightly higher than expected. China’s efforts in re-regulating stock trading suspension, the expansion of the Stock Connect scheme and...
  • China's A-shares will initially comprise just 0.7 percent of the MSCI Emerging Markets Index, but the weighting could increase over time if the country enacts further reforms. Photo: Reuters

    MSCI adds China A-shares to global benchmark

    Jun 21, 2017 7:52am
    China’s domestic equities will join MSCI Inc.’s benchmark indices after three failed attempts, a landmark step in the nation’s integration with the global financial system, Bloomberg reports. The decision, announced by the New York-based index compiler...
  • If MSCI rejects China’s inclusion again, that could likely provoke speculative buying by red-faced market players in China. Photo: Reuters

    Be cautious ahead of MSCI decision on China A-shares

    - Jun 20, 2017 2:57pm
    The market sentiment in China’s A-share market has been abnormally depressed in the first half of 2017. With retail investors’ pessimism over the market, they are still worrying about further yuan depreciation. In my view, that...
  • HKMA chief executive Norman Chan says homebuyers should brace for an increase in mortgage rates in the near future. Photo: HKEJ

    Hong Kong raises base rate to 1.5% after Fed hike

    Jun 15, 2017 11:49am
    The Hong Kong Monetary Authority (HKMA) raised the base rate by 25 basis points to 1.5 percent. The increase follows a 25-basis-point increase in the target range for the US federal funds rate. HKMA chief executive...
  • The bigger story in the tech sector should be SWANNS, which refers to SoftBank, Western Digital, Jack Ma's Alibaba, Nintendo, Nvidia and Samsung. Photo: Bloomberg

    SWANNS: Where great opportunities in tech sector lie

    - Jun 14, 2017 11:46am
    The tech-laden Nasdaq Composite Index declined 1.8 percent last Friday after Goldman Sachs warned of a “valuation air-pocket” in five leading tech stocks dubbed as FAAMG (Facebook, Amazon, Apple, Microsoft and Alphabet). The Goldman report says...

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