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Stocks

Stocks
Stock market action from around the world, with a focus on Hong Kong, China and the rest of Asia.
last updated:
9 September, 2024
Pop Mart earns most its revenue from proprietary intellectual property products. Photo: Shutterstock
China economy

Chinese toymaker Pop Mart’s 370% surge fuelled by blind box collectibles

Pop Mart’s blind box toys have become a global sensation, turning the toymaker into the hottest Chinese growth company.

China economy

Laopu Gold outshines Chow Tai Fook as China’s top jeweller with 437% stock surge

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Hong Kong stock market

Hong Kong stocks end week lower as traders look for catalysts

Ant Group

Chinese fintech giant Ant denies imminent restart of IPO process

Amid rife speculation, the company says it has no current plans to go public or pursue a back-door listing.

An Ant Group building in Hangzhou, China. Photo: Shutterstock
HKEX

HKEX unveils reforms to boost Hong Kong’s IPO market so it can reclaim top spot

Changes to board representation and listing rules are aimed at making Hong Kong a more attractive listing destination, HKEX says.

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China economy

Macroscope | Never mind stimulus, rebalancing is China’s real economic challenge

The problem is not China’s leaders lacking the will to enact large-scale stimulus but whether it will work given the present challenges.

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Hong Kong stock market

Hong Kong shares fall after Fed signals slower easing next year

Federal Reserve’s hawkish forecast for just two rate cuts next year dampens sentiment.

Markets in the US and Asia fell after Federal Reserve chairman Jerome Powell hinted at a slower pace of rate cuts next year. Photo: Reuters
IPO

Hong Kong IPO: actor Roger Kwok’s Herbs Generation ends up 10% on debut

The healthcare company’s shares were oversubscribed 6,083 times after they were priced at the low end of the range at HK$3.75.

Banking & finance

NWD to focus on corporate strategy as stock slides amid debt crisis

The company’s shares slipped 6.7 per cent to HK$5.27 on Wednesday, bringing the slide this year to 55 per cent.

Banking & finance

China’s record-low government bond yields spark fresh warning from central bank

Institutions are being warned as bearish investor sentiment, and an expectation of lower interest rates, continue to make the bond market a sought-after haven.

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China’s 10-year bond yield has continued its extended slump, hitting a record low this month as investors scramble for safe-haven options such as ultra-long-term bonds. Photo: AFP
China stock market

China says executives at SOEs will be judged on the performance of their stocks

Guidelines affect 409 mainland-listed companies with a combined market value of US$3.8 trillion.

Customers at a brokerage in Hangzhou. Photo: CFOTO/Future Publishing via Getty Images
Hong Kong stock market

Hong Kong stocks rise amid bid to unlock mainland Chinese state firms’ value

China’s state assets watchdog also included proposals on M&As, market-oriented reforms, information disclosure and stock buy-backs.

Hong Kong stock market

Hong Kong stock exchange to reduce minimum price changes to boost liquidity

The reform aims to lower overall transaction costs and support a more efficient price-discovery process, says HKEX deputy CEO.

Banking & finance

Chinese IPOs surge in Hong Kong as Minieye and Guming line up

The maker of autonomous-driving technology aims to raise US$100 million and the bubble-tea purveyor seeks up to US$500 million.

Customers wait for their orders at a Guming (Good Me) store on August 14, 2021 in Fuzhou, Fujian province. Photo: Getty Images
Hong Kong stock market

Hong Kong stocks end nearly 1% lower on disappointing China data

China’s retail sales growth in November misses analysts’ estimates, while property investment slows further.

An electronic monitor displays various indices of the Hong Kong stock market. Photo: Eugene Lee
E-commerce

Shein’s UK IPO slowed by challenge from Uygur NGO alleging Xinjiang cotton use

Britain’s Independent Anti-Slavery Commissioner has also raised concerns over allegations about the fast-fashion firm’s labour practices.

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Hong Kong stock market

Hong Kong stocks fall after China’s economic policy meeting underwhelms

Statement from China economic conference devoid of concrete details about what stimulus measures government would take next year.

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India

Surging wealth of India’s billionaires raises concerns about rising inequality

The wealth of billionaires in India has risen to US$905 billion, according to a report by UBS, outpacing the country’s economic growth.

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A person holding Indian rupees of different denominations. The wealth of Indian billionaires surged to US$905 billion in 2024, a UBS report shows. Photo: Shutterstock
Banking & finance

Chinese soy sauce maker Foshan Haitian eyes dual listing in Hong Kong

The Foshan-based condiment maker’s board has given the go-ahead for the fundraising plan.

Millionaires and billionaires

Elon Musk’s net worth tops US$400 billion in historic first

The most recent catalyst was an insider share sale of his privately held SpaceX, which boosted Musk’s net worth by some US$50 billion.

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Hong Kong stock market

Stocks advance as investors await details from China economic meeting

China’s economic work conference is expected to conclude on Thursday.

People passed through Exchange Square in Central. Photo: May Tse
Donald Trump

Trump is named Time’s Person of the Year, rings NYSE’s opening bell

The ringing of the bell is a powerful symbol of US capitalism, and Trump has never done it before despite decades as a New York businessman.

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An image of Donald Trump is displayed as traders and financial professionals work on the floor of the New York Stock Exchange at the opening bell on November 26. Photo: AFP
China stock market

Gulf financiers bet on 35% returns from Chinese assets on stimulus bets

‘If you want growth, you have to be in this corridor from the near to the Far East,’ Gulf Capital CEO says at China-UAE summit during Abu Dhabi Finance Week.

Hong Kong stock market

SenseTime raising US$358 million from stock placement for expansion

The Shanghai-based tech firm is selling the shares at a 6.3 per cent discount to bolster GenAI development and outpace rivals.

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Hong Kong stock market

Hong Kong stocks slide as China begins tone-setting economic conference

Investors are hungry for more detailed policy measures after a readout from a Politburo meeting earlier this week hinted at broader stimulus.

People passed through Exchange Square in Hong Kong. Photo: May Tse
China stock market

China stocks regain appeal as Xi signals major stimulus in Politburo meeting

Strong policy tone ripples through Chinese assets, with both stocks and bonds rallying while the yuan strengthens.

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A statue of a bull stands in the Lujiazui financial district of Shanghai on March 16, 2023. Photo: EPA-EFE
Hong Kong stock market

Hong Kong rally falters, investors await concrete support measures from Beijing

A rally in Hong Kong stocks lose steam as investors await concrete measures following Beijing’s policy pivot.

IPO

Chinese cosmetics firm Mao Geping prices shares at top end of range ahead of IPO

Shares were priced at HK$29.80, according to exchange filings.

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