Date
12 December 2018

Markets

  • The US initial public offering values Tencent Music at US$21.3 billion. Photo: Bloomberg

    Tencent Music raises nearly US$1.1 billion in US share offering

    Dec 12, 2018 9:02am
    China-based music streaming company Tencent Music Entertainment Group has raised close to US$1.1 billion in its US initial public offering (IPO) after pricing its shares at the bottom of its targeted range, Reuters reports, citing two...
  • Reserve Bank of India Governor Urjit Patel resigned on Monday after a month-long tussle over policy with the government. Photo: Bloomberg

    Indian rupee, stocks dive after central bank chief quits

    Dec 11, 2018 1:14pm
    Indian markets plunged before recovering some ground on Tuesday as Reserve Bank of India Governor Urjit Patel’s unexpected resignation on Monday shocked investors, Reuters reports. For further direction traders were cautiously awaiting results from crucial state...
  • SoftBank, which controls the world’s biggest tech private equity fund at nearly US$100 billion, will use the IPO proceeds to invest in startups. Photo: Bloomberg

    SoftBank’s record IPO reaches US$23.5 billion

    Dec 11, 2018 7:19am
    SoftBank Group Corp. is set to raise 2.65 trillion yen (US$23.5 billion) in Japan’s biggest-ever initial public offering, Reuters reports. Telco unit SoftBank Corp. priced its stock at 1,500 yen apiece, as previously indicated. It also...
  • The Hong Kong stock exchange will work with mainland counterparts in formulating rules on trading by mainland investors in Hong Kong-listed firms with dual voting rights. Photo: Bloomberg

    HK, China bourses reach deal on dual-class shares

    Dec 10, 2018 9:23am
    The Hong Kong stock exchange said on Sunday that it has reached a deal with its counterparts in Shanghai and Shenzhen on trading by mainland investors in Hong Kong-listed companies with dual voting rights, Reuters reports....
  • Ride-hailing services giant Uber is said to be keen to beat smaller rival Lyft in launching an IPO. Photo: Reuters

    Uber makes confidential filing for IPO: report

    Dec 10, 2018 9:13am
    Uber Technologies has filed paperwork for an initial public offering, Reuters reports, citing people with knowledge of the matter. The ride-hailing company filed the confidential paperwork on Thursday, moving in lock-step with its smaller US rival...
  • The investors' group called on governments to phase out thermal coal, put a “meaningful” price on carbon emissions and gradually get rid of subsidies for fossil fuels. Photo: Reuters

    Investors managing US$32 trillion in assets urge climate action

    Dec 10, 2018 9:09am
    Global investors managing US$32 trillion in assets have called on governments to accelerate steps to combat climate change, Reuters reports. A total of 415 investors from across the world including UBS Asset Management and Aberdeen Standard...
  • Facebook shares have tumbled more than 22 percent this year. Photo: Reuters

    Facebook to buy back additional US$9 billion of shares

    Dec 10, 2018 9:03am
    Facebook Inc. will buy back an additional US$9 billion of its shares as it looks to pacify investors following a slump in its stock, Reuters reports. The social media giant’s shares, which have tumbled more than...
  • Hong Kong stocks have been hit by volatility stemming from concerns over a US-China trade war and by slowing growth in China. Photo: Bloomberg

    Hong Kong set to take global IPO crown but many new listings sag

    Dec 10, 2018 8:47am
    Hong Kong is on course to take the global IPO crown this year for the most money raised in stock market flotations, narrowly ahead of arch-rival New York, but its new listings have posted the worst...
  • Falling bond yields and doubts about the US-China trade war ceasefire sparked a severe selloff on Wall Street on Tuesday. Photo: Reuters

    US stocks tumble on trade, growth worries

    Dec 5, 2018 8:56am
    US stocks tumbled on Tuesday, with the benchmark Dow index shedding nearly 800 points, as the bond market sent unsettling signs about economic growth and investors worried anew about global trade. A prominent Federal Reserve official’s...
  • Fosun Tourism, which includes Club Med and a luxury resort in Sanya, wants to use part of the IPO proceeds to expand in China. Photo: Bloomberg

    Fosun launches up to US$548 million Club Med IPO in Hong Kong

    Nov 30, 2018 2:57pm
    Fosun International (00656.HK) is looking to raise up to US$548 million with the IPO of its Club Med holiday business in Hong Kong, as it seeks funds to grow its business in China, Reuters reports. Fosun...
  • SoftBank Group Corp. is seeking to raise US$21 billion from the initial public offering of its domestic mobile phone network business, SoftBank Corp. Photo: Bloomberg

    Japan brokers gird for SoftBank’s mammoth IPO

    Nov 30, 2018 9:05am
    Japan’s stockbrokers are rubbing their hands ahead of SoftBank’s record-breaking US$21 billion share sale, banking on the telco’s brand power and unprecedented marketing campaign to boost business in a country replete with IPO-hungry investors. ….. Update:...
  • Virtual currencies such as bitcoin have been on a steep downtrend since the beginning of the year amid increased regulatory scrutiny and cases of hacking and thefts. Photo: Bloomberg

    Cryptocurrencies to survive sell-off: Allianz’s El-Erian

    Nov 28, 2018 9:09am
    Allianz chief economic adviser Mohamed El-Erian said cryptocurrencies are here to stay despite a prolonged slump this year, and will gain wider acceptance after the recent entry of more institutional investors in the space. El-Erian said...
  • Bitcoin has lost 74 percent of its value so far this year, after hitting nearly US$20,000 in December last year. Photo: AFP

    Bitcoin sinks as cryptocurrency sell-off gathers pace

    Nov 27, 2018 8:22am
    Bitcoin plunged more than 12 percent, extending falls in recent weeks in a broad-based selloff in digital currencies as sentiment sours, Reuters reports. Several factors have accelerated the downturn, analysts said, including increased US regulatory scrutiny...
  • Money is pouring into companies that speculators think might become acquisition targets for backdoor listings. Photo: Reuters

    Speculators return as China eases market curbs

    Nov 16, 2018 3:26pm
    Speculators are staging a forceful comeback in China’s stock market, bidding up shares in loss-making companies, as regulators ease rules around trading, fundraising and backdoor listings to prop up struggling bourses. In a bid to stop...
  • Levi Strauss & Co. is aiming to debut with a valuation of about US$5 billion, CNBC said. Photo: Bloomberg

    Levi Strauss seeks to raise up to US$800 million in IPO: report

    Nov 15, 2018 9:07am
    Levi Strauss & Co., the 145-year-old company that made the first pair of blue jeans, is planning an initial public offering, CNBC reports, citing sources familiar with the matter. The company, which plans to raise about...
  • Snap’s Snapchat messaging app has struggled with user growth since the company's initial public offering in March 2017. Photo: Bloomberg

    Snap subpoenaed by US authorities over IPO disclosures

    Nov 14, 2018 10:06am
    The US Justice Department and Securities and Exchange Commission have subpoenaed Snap Inc. for information about its March 2017 initial public offering, the social media app maker told Reuters. Snap said in a statement it has...
  • The MSCI move is expected to boost the Chinese stock markets, which are performing poorly this year.  Photo: Xinhua

    MSCI adds more China stocks to global emerging markets index

    Nov 14, 2018 8:54am
    MSCI Inc. said it will add several onshore Chinese stocks to its closely watched and widely duplicated emerging-markets index, Reuters reports. S.F. Holding Co. Ltd. (002352.CN), 360 Security Technology Inc. (601360.CN) and China Shipbuilding Industry Corp....
  • Hong Kong's stock market has been rattled by trade tensions between China and the United States. The benchmark Hang Seng Index is down almost 16 percent this year. Photo: Bloomberg

    Tencent-backed Chinese travel firm slashes Hong Kong IPO size

    Nov 13, 2018 5:04pm
    Tencent Holdings-backed online Chinese travel firm Tongcheng-Elong launched a far smaller-than-expected initial public offering of up to US$233 million in Hong Kong on Tuesday, amid a weak stock market and a string of poor performances from...
  • Shanghai Stock Exchange says it will encourage small investors to invest in the firms listed on the planned new technology innovation board, via mutual funds. Photo: Bloomberg

    Shanghai bourse to launch new tech board

    Nov 6, 2018 9:21am
    Chinese President Xi Jinping unveiled plans on Monday to launch a technology board in Shanghai that will adopt a loosely-regulated mechanism for initial public offerings (IPOs), potentially competing with Hong Kong, or even New York, Reuters...
  • One bitcoin is now worth around US$6,200. That is a steep 70 percent fall from its all-time high of near US$20,000 in December last year. Photo: AFP

    Early bitcoin investors count winnings after volatile decade

    Nov 1, 2018 8:53am
    Seven years ago, Marshall Hayner gave his grandfather one bitcoin, worth about US$30. On the paper wallet he fashioned to commemorate the gift, the US entrepreneur and software developer wrote: “Do not open until US$100,000.” It...

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