Date
27 March 2017

Markets

  • The sudden selloff wiped out about US$4.1 billion in the Huishan Dairy's market value. Photo: Bloomberg

    Huishan Dairy shares plunge 85 percent, trading halted

    Mar 24, 2017 4:33pm
    Shares of China Huishan Dairy Holdings Co. Ltd. (06863.HK) fell by a record 85 percent in Hong Kong before the company suspended trading. The sudden crash wiped out about US$4.1 billion in the company’s market value,...
  • The 10 biggest listings of Chinese firms in Hong Kong last year saw cornerstone investors – nearly all mainland entities – buying 50 to 78 percent of shares on offer. Photo: Reuters

    China tells cornerstone investors in HK IPOs to bring home funds

    Mar 23, 2017 8:49am
    China has made it mandatory for mainland cornerstone investors in Hong Kong initial public offerings to repatriate funds when they sell their shares, a rule likely to hit smaller, cornerstone-reliant listings, Reuters reports, citing people with knowledge...
  • China Hongqiao says it has overtaken Russia's RUSAL as the world’s largest aluminum producer. Photo: Bloomberg

    China Hongqiao fights back short-seller via southbound trading

    - Mar 13, 2017 4:59pm
    The stock trading link with Shanghai and Shenzhen has brought tremendous benefits to the Hong Kong stock market. China Hongqiao Group Ltd. (01378.HK), for example, has defeated a short-seller as capital flowed from southbound cross-border stock...
  • Amin Nasser says an overhang in world oil supplies is expected to ease in the first half of 2017. Photo: Reuters

    Saudi Aramco to list locally and abroad next year

    Mar 7, 2017 7:59am
    Oil giant Saudi Aramco will be listed locally and abroad in the second half of 2018, and the process is going according to plan, Reuters reports, citing chief executive Amin Nasser. The IPO is the centerpiece...
  • Snap co-founders Evan Spiegel (center) and Bobby Murphy ring the opening bell of the New York Stock Exchange as NYSE president Thomas Farley applauds on Thursday. Photo: Reuters

    Snap surges on debut as Wall Street retreats

    Mar 3, 2017 7:48am
    Shares of Snap Inc. continued to defy doubts about the company’s early-stage business model and slowing user growth, jumping nearly 50 percent in their first day of trading on the New York Stock Exchange. The owner...
  • Snap priced 200 million shares at US$17, above its stated range of US$14 to US$16 a share. Photo: Reuters

    Snap valued at US$24 bln after raising US$3.4 bln in IPO

    Mar 2, 2017 8:07am
    Snap Inc. priced its initial public offering above its target range, raising US$3.4 billion as investors set aside concerns about its lack of profits and voting rights for a piece of the hottest tech IPO in...
  • Many investors view a March rate hike as a signal of policymakers' growing confidence in economic expansion after nearly a decade of tepid growth. Photo: Reuters

    Dow breaks through 21,000 after Trump speech

    Mar 2, 2017 7:52am
    The Dow on Wednesday blasted through the 21,000 mark for the first time after US President Donald Trump’s measured tone in his first speech to Congress lifted optimism and investors viewed positively a looming interest rate...
  • Hong Kong's securities regulators have taken a tougher stance on listed firms following wild price swings of stocks on the Growth Enterprise Market. Photo: Bloomberg

    Four small firms shelve IPOs after watchdog warning

    Mar 1, 2017 8:29am
    Four planned listings on Hong Kong’s Growth Enterprise Market, which is known for its wild price swings, have been shelved after securities regulators warned that participants would be scrutinized more thoroughly. Logistics provider XiangXing International Holding...
  • LSE and Deutsche Boerse announced plans to merge in a 29 million euro deal just over a year ago, aiming to create a giant trading powerhouse that would better compete against US rivals. Photo: Reuters

    LSE, Deutsche Boerse deal in jeopardy over antitrust fears

    Feb 27, 2017 8:22am
    London Stock Exchange said its proposed merger with Deutsche Boerse AG was unlikely to be approved by the European Commission, leaving the stock market operators’ third attempt at combining on the brink of failure. The LSE...
  • Warren Buffett advised investors to stick to low-cost index funds. Photo: Bloomberg

    Buffett: Wall St wasted US$100 bln in bid for outperformance

    Feb 27, 2017 8:10am
    Billionaire Warren Buffett slammed Wall Street hedge funds and financial advisers, saying their search for outperformance has caused investors to “waste” more than US$100 billion over the past decade. “When trillions of dollars are managed by Wall...
  • Wall Street rally has spurred gains in equity markets in many parts of the world, including Hong Kong, but investors would do well not to get carried away. Photo: Reuters

    Enjoy the equity bubble but stay alert for sudden reversal

    - Feb 21, 2017 5:13pm
    The stock market meltdown two years ago saw numerous China and Hong Kong funds suffer badly. Following the debacle, fund managers were criticized for failing to book profits in time on the gains recorded earlier. Well,...
  • Snap expects to raise as much as US$3.2 billion from the offering of 200 million Class A shares. The offering is expected to be priced between US$14 and US$16 per share. Photo: Bloomberg

    Snap lowers valuation expectations in highly awaited IPO

    Feb 17, 2017 8:29am
    Snap Inc., owner of the popular messaging app Snapchat, set a lower-than-expected valuation range amid mounting investor concerns over its unproven business model, slowing growth and tight founder control. The company, which filed for an initial...
  • Geely Automobile (00175.HK) has seen its shares post sharp gains along with improving results. Photo: Geely

    HK equities: Earnings season in focus

    - Feb 14, 2017 4:46pm
    Investors continue to keep a close eye on the words and deeds of Donald Trump as the US president has vowed to give a new direction to America’s economic and trade policies. Although Trump wants to...
  • Shandong International Trust plans to sell as many as 676.5 million shares in a Hong Kong initial public offering. Photo: Bloomberg

    Shandong Int’l Trust wins regulatory nod for US$300 mln IPO

    Feb 13, 2017 3:08pm
    China’s securities watchdog has approved the country’s first initial public offering by a trust company in more than 20 years. Shandong International Trust Co. Ltd. won approval from the China Securities Regulatory Commission to sell as...
  • As much as HK$10 billion of Chinese capital previously earmarked for potential overseas M&A deals has been redeployed into Hong Kong equities recently, according to an investment banker. Photo: HKEJ

    China money powers HK equities rally

    - Feb 9, 2017 10:50am
    The Hong Kong market’s recent gains were powered by a sudden influx of money from China, as some entities which built up reserves for potential overseas M&A deals decided to channel the funds into equity investments...
  • More than half of the equities listed in Singapore are trading below their net worth. Photo: Bloomberg

    Investors set sights on takeover candidates in Singapore

    Feb 7, 2017 10:00am
    With more than half of Singapore equities trading below their net worth, some investors are chasing profits by buying shares in companies that may be bought out or delisted by controlling shareholders or takeover firms. “Investors...
  • A screen shows the Dow Jones Industrial Average over the 20,000 mark following the closing bell on the floor of the NYSE on Wednesday. Photo: Reuters

    Dow tops 20,000 amid Trump policy hopes

    Jan 26, 2017 8:51am
    US stocks hit fresh highs on Wednesday, with the Dow Jones Industrial Average ending above the 20,000 level for the first time, amid optimism that Donald Trump’s policy initiatives will breathe new life into the world’s...
  • Based on back testing results using past ten years’ data, an F-score based portfolio stands a good chance of helping investors beat the benchmark index. Photo: HKEJ

    Can F-Score strategy help beat the index?

    - Jan 19, 2017 5:12pm
    In a previous column, I had talked about the Piotroski F-Score. Now, let’s discuss if it actually works. The Piotroski F-score is a discrete score between 0-9 which reflects nine criteria used to gauge the strength...
  • Although home prices have surged to record highs, property stocks in Hong Kong largely trade at a deep discount to net asset value. Photo: HKEJ

    HK equities: Avoid buying in a rangebound market

    - Jan 17, 2017 4:34pm
    Financial markets will be keeping a close eye on developments in the United States and the United Kingdom in the coming days. In the US, Donald Trump will be sworn in as the nation’s 45th President...
  • The People's Bank of China has stepped up supervision on bitcoin exchanges amid concerns over illegal activities. Photo: Bloomberg

    PBoC conducts spot inspections of bitcoin exchanges

    Jan 12, 2017 8:29am
    Chinese authorities carried out inspections of bitcoin exchanges in the country amid concerns over possible market manipulation, money laundering, unauthorized financing, currency conversion and other activities. The Shanghai and Beijing branches of the People’s Bank of...

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