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Investor Relations

The Tencent headquarters in Shenzhen, China’s southern Guangdong province. Photo: AFP

Big Tech

Tencent beats estimates with 47% profit jump, driven by video gaming

Video gaming sales, traditionally Tencent’s strongest revenue driver, grew 14% in the domestic market.

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UBS cuts China stock forecast amid Trump tariff threat, weak stimulus

Saudi Arabia’s first ETF tracking Hong Kong stocks opens flat on Tadawul debut

Markets

First overseas company listing in Hong Kong via SPAC marks historic milestone

Synagistics starts trading under the 2562 stock code on Wednesday after combining its business with Hong Kong Acquisition Corporation.

In Hong Kong, a SPAC needs to raise at least HK$1 billion. Photo: Winson Wong
In Hong Kong, a SPAC needs to raise at least HK$1 billion. Photo: Winson Wong

Banking & Finance

Goldman Sachs’ 35 meetings show China stocks back on radar after fund purge

What has happened is that Beijing has activated the ‘policy put’, or whatever it takes to rescue the market, Goldman says.

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Companies

HKEX’s third-quarter profit rises 7% on IPOs, turnover

Funds raised from IPOs in the June to September quarter reached HK$42.2 billion, six times higher than a year earlier.

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Banking & Finance

China Resources Beverage prices IPO at top end of range on strong demand

The IPO gives the water-bottling company a market capitalisation of about US$4.4 billion before its debut on Wednesday.

A delivery of C’estbon bottled water. Photo: Handout

Banking & Finance

Investors need to look at China stimulus and earnings when assessing rally: DBS

Effects of China fiscal policies and corporate earnings should be assessed before judging staying power of rally, Singaporean bank says.

A DBS Treasures branch in Hong Kong. Photo: DBS Hong Kong
A DBS Treasures branch in Hong Kong. Photo: DBS Hong Kong

Banking & Finance

Insiders say running a Hong Kong family office is a delicate balancing act

‘Emotion stays away from the boardroom. That’s critical,’ says Mahesh Harilela.

Banking & Finance

Hong Kong has to work harder to maintain family office hub status: official

Hong Kong is set to surpass Switzerland as the top cross-border wealth management hub by 2027-28, but must stay competitive, says Joseph Chan.

Banking & Finance

More Hong Kong banks are ‘doing their part’ to beat fraud, poll says

More than half of banks took full responsibility and refunded losses, which only 44 per cent of customers expected, FIS research says.

A view of Central on a rainy Sunday, July 28, 2024. Photo: Jelly Tse

Banking & Finance

China’s top state-backed brokers are merging to take on Wall Street

State-backed brokerages Guotai Junan and Haitong Securities are merging to create a firm with US$237 billion in assets to rival Wall Street.

A Beijing branch of Guotai Junan Securities. Photo: Shutterstock
A Beijing branch of Guotai Junan Securities. Photo: Shutterstock

Companies

SHKP gears up for rate cuts with slew of Hong Kong property projects

Hong Kong’s largest developer by market cap posted a 20 per cent drop in net profit to HK$19.04 billion (US$2.44 billion) for the year ended June.

China Business

Financial secretary pledges more financial connections with mainland

Minister hinted at the launches of more links that will better connect Hong Kong markets with those on the mainland.

China Business

Sanergy blames forced share sale for market meltdown

Sanergy Group’s 98 per cent stock-price crash was triggered when its largest shareholder, Otautahi Capital, was forced to sell part of its stake, the maker of graphite products says.

Outside the Stock Exchange of Hong Kong in Central. Photo: SCMP/Jonathan Wong

Markets

China’s ‘broker butcher’ puts on charm to boost confidence, stocks

The CSRC’s boss wants state-run funds and private asset managers to show more buying power, deliver higher returns to shore up market confidence.

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An electronic ticker displays stock figures in Lujiazui Financial District in Shanghai on August 14, 2024. Photo: Bloomberg
An electronic ticker displays stock figures in Lujiazui Financial District in Shanghai on August 14, 2024. Photo: Bloomberg

China Business

Debt-laden Kaisa warns of wider losses, echoing China’s property crisis

The developer’s weak report card is likely to resemble those of most mainland Chinese developers, which are expected to extend a losing streak dating to 2020.

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China Business

Intern’s leaked video exposes chaotic management at leading Chinese brokerage

‘The content of the clip leaked sensitive information about our customers and violated the company’s compliance rules,’ China Securities said.

Banking & Finance

Hong Kong companies resist HKEX plan to fix overboarding issue

Wong’s comments represent the strongest pushback by one of the city’s most powerful lobby groups against the HKEX as it collects public feedback until August 16 on its proposal to improve corporate governance.

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Attendees of the Saudi Tadawul Group’s inaugural international edition of the Capital Market Forum at the Connect Hall of the Hong Kong stock exchange (HKEX) in Central on 9 May 2024. Photo: Edmond So.

China Business

China’s second-largest car dealer faces delisting as investors snub its shares

China Grand Automotive Service is set to be expelled from the Shanghai Stock Exchange after its shares traded below their par value for 20 straight days, the latest sign of cracks appearing in the world’s largest vehicle market.

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Grand Automotive will become the second car dealer to be disqualified from the bourse in about a year, following the delisting of Pang Da Automobile Trade in June, 2023. Photo: SCMP Handout
Grand Automotive will become the second car dealer to be disqualified from the bourse in about a year, following the delisting of Pang Da Automobile Trade in June, 2023. Photo: SCMP Handout

IPO Quote Profile

Cirrus Aircraft prices its stock midrange at HK$27.50 in Hong Kong

Global delivery of personal aircraft rose by 15 per cent to 2,215 units in 2023, from 2021, because of the recovery from the pandemic and consumers’ preference for premium travel, Frost & Sullivan said.

Markets

No longer a man’s world: HKEX’s all-male boards slashed by half

The number of Hong Kong-listed companies with all-male boards has fallen to about 400, from 800 in 2022, when the rule to end single-gender boards was introduced, says Bonnie Chan, the first woman to lead HKEX.

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Investor Relations

China climate-focused funds saw higher inflows, but fewer launches last year

Climate-focused funds in China saw a decline in assets and product launches last year despite an uptick in inflows, with the funds prone to huge volatility because of speculative trading, according to Morningstar.

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Globally, assets in climate funds rose by 16 per cent in 2023 to US$540 billion. Photo: Shutterstock
OPINION
Amar Gill,Lake Wang

Opinion | Time for Hong Kong’s corporate boards to get in line with global norms

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Lake Wang
Andrew Sheng

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Anthony Rowley

Macroscope | ESG investing: a waste of climate finance?

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Kavi Harilela

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Kavi Harilela
8
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J.P. Morgan analyst offers timely investment advice on property stocks

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