Hong Kong Stocks Catch Up With Global Rout as Trump Softens Blow - Bloomberg
(May 14): Hong Kong stocks fell as the city reacted to the latest wave of declines across the globe.The Hang Seng Index was down 1.6% as of the midday break, while a gauge tracking Chinese companies declined 1.7%. The city’s equity market, which was shut Monday for a holiday, had been relatively resilient to this month’s rapid correction onshore and worsening trade relations between the U.S. and China. The Hang Seng benchmark is now down 5.4% for May. China’s
Beijing retaliated late Monday with higher tariffs on a range of American goods, spurring a 2.4% loss in the S&P 500 Index. As a global financial center with no limits on capital flows, Hong Kong is vulnerable to worsening ties between the two nations and usually does badly during a wave of risk-off sentiment. A weak yuan also weighs on earnings for Chinese heavyweights listed in the city.
Below are five charts showing the strain that’s building in Hong Kong shares.
Short selling turnover in Hong Kong’s main board has been increasing since early May. It accounted for about 15% of total turnover in the city on Friday, the highest in more than two weeks.Read more: The Edge Malaysia
Hong Kong actress Fala Chen marries French boyfriendHONG Kong actress Fala Chen married her French boyfriend of three years, entrepreneur Emmanuel Straschnov, last Saturday, China Press reported. Congratulations.
Hong Kong police’s special anti-fraud squad blocked nearly US$90mil in payments to scammers
Unstoppable Hong Kong property tipped for decade more of gainsHONG KONG (May 10): Prices are set to rise for another decade in the world’s least affordable property market, Hong Kong, according to UBS Group AG.Inflows of residents will be key as the Greater Bay Area project integrates a group of mainland Chinese cities with Hong Kong, property analyst John Lam wrote in a research report. The extra buyers will be “more than enough” to outweigh waning housing demand from an aging local population, he wrote.That would extend a
Hong Kong to cull 6,000 pigs as first swine fever case found | The Malaysian InsightOfficials say the pigs were killed to prevent the disease from spreading.
Hong Kong actress Katherine Ho divorces husband after photos of her kissing billionaire surface | Malay MailPETALING JAYA, May 8 — TVB actress Katherine Ho is the latest Hong Kong celebrity to court controversy after photos of her kissing billionaire Anson Chan became public. The day after the photos surfaced, the 27-year-old announced her divorce from 67-year-old millionaire husband Wu Zicheng. In an...
Brewer AB InBev could float Asia business in Hong KongBRUSSELS (May 7): Anheuser-Busch InBev, the world's largest brewer, is considering listing a minority stake in its Asian operations to create a separate business that could lead consolidation of brewing in the region.The announcement on Tuesday, released at the same time as first-quarter results, follows reports that the company had enlisted banks to work on a partial sale of the Asia-Pacific business.The brewer is saddled with more than US$100 billion in debt after its 2016 purchase of nearest rival
Hong Kong extradition row sparks parliament scufflesHong Kong's government is pushing a bill which will allow case-by-case extraditions to any jurisdictions it doesn't have an agreed treaty with.
AB InBev's Asia business files for Hong Kong IPO of at least $5 billion: sourcesHONG KONG (May 10): The Asia business of Anheuser-Busch InBev, the world’s largest brewer, filed on Friday a draft prospectus for an initial public offering (IPO), which two sources with knowledge of the matter said could be worth at least $5 billion.Belgium-based AB InBev, whose beers include Stella Artois and Budweiser, said on Tuesday that it was considering listing a minority stake in its Asian operations to create a separate business.Budweiser Brewing Company APAC Ltd, AB InBev’s Asian business, did
HK extradition row escalatesHong Kong: Anger over Hong Kong’s controversial plans to allow extraditions to the Chinese mainland boiled over in the city’s legislature as rival lawmakers scuffled with each other in chaotic scenes.
Chinese AI start-up Megvii raises $750 million ahead of planned HK IPOHONG KONG (May 9): Chinese artificial intelligence (AI) provider Megvii Technology Ltd, commonly known as Face++, said on Wednesday it raised $750 million in its latest funding round.The funding raises start-up Megvii’s valuation to slightly over $4 billion as it prepares for an initial public offering (IPO) in Hong Kong planned for later this year, said two sources with knowledge of the matter.Bank of China Group Investment (BOCGI) Ltd, the state bank’s private equity arm, led the fundraising with $200
Commercial email fraud dupes 179 Hong Kong and overseas companies, bilking US$51mil in first quarter of 2019