Date
17 October 2019

Markets

  • A screen shows the numbers after the closing bell at the New York Stock Exchange on Wednesday. Photo: Reuters

    Selloff on Wall Street as recession fears take hold

    Aug 15, 2019 8:58am
    US stocks fell sharply on Wednesday, with all the three major indexes crashing about 3 percent, as recession fears gripped the market after the US Treasury yield curve temporarily inverted for the first time in 12...
  • Refinitiv acquisition will turn the LSE into a major distributor as well as creator of financial market data. Photo: Reuters

    LSE confirms US$27 bln Refinitiv deal

    Aug 1, 2019 4:31pm
    London Stock Exchange (LSE) said it has agreed to buy financial information business Refinitiv in a US$27 billion deal, confirming a move to transform itself into a market data and analytics giant. “This transaction is a...
  • Demonstrators charge with a cart filled with burning cardboard during a clash with police in Sheung Wan on Sunday. Photo: Reuters

    Amid all the tumult

    - Jul 30, 2019 12:06pm
    Despite what doomsayers say, the local market appears to be taking the current political turmoil in stride. Fifty days after the mammoth rally against the extradition bill on June 9, one can say that the Hang...
  • A merger with Refinitiv would significantly expand LSE’s information services business. Photo: Reuters

    LSE shares surge as investors cheer US$27 bln Refinitiv bid

    Jul 30, 2019 9:30am
    London Stock Exchange Group shares rose more than 15 percent to a record high on Monday as investors cheered its US$27 billion bid to buy financial data firm Refinitiv Holdings, Reuters reports.  Analysts believe the deal...
  • All but four of the 25 stocks listed on STAR Market fell on Tuesday as investors took profits from opening day gains. Photo: Reuters

    Top investors lose US$1 bln as STAR Market reverses on day two

    Jul 23, 2019 5:08pm
    The biggest shareholders in China’s new Nasdaq-style STAR Market lost a combined US$1 billion in the second day of trade on Tuesday, a day after the board’s roaring debut created three new billionaires, Reuters reports. All...
  • Officials attend the listing ceremony of the first batch of companies on STAR Market, China's new Nasdaq-style tech board, at the Shanghai Stock Exchange on Monday. Photo: Reuters

    Most stocks surge on first day of trade on China’s STAR Market

    Jul 22, 2019 11:54am
    China’s new Nasdaq-style board for homegrown technology firms started trading on Monday, with most of the stocks surging in their debut, Reuters reports. Most of the first batch of 25 companies – ranging from chip-makers to...
  • Hong Kong Exchange and Clearing acts as a watchdog of the stock market, but it is also a listed organization that must look after its earnings and share price growth. Photo: Reuters

    A call for better regulatory mechanism for listing approvals

    - Jul 22, 2019 11:41am
    On June 23, the Securities and Futures Commission (SFC) and the Independent Commission Against Corruption (ICAC) announced a joint operation that led to the arrest of a former head of the IPO vetting team of the...
  • 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...