Meituan Dianping, the Chinese food reviews and delivery giant backed by Tencent Holdings Ltd., has begun discussions on a Hong Kong initial public offering as soon as this year, according to people familiar with the matter. The company is weighing a ... ( read original story ...)
Hong Kong stocks fall as Tencent’s gaming revenues disappoint and PBOC raises rates
Hong Kong ‘s stocks dropped by the most in two weeks, as Tencent Holdings’ gaming revenues trailed estimates and China’s central bank raised borrowing costs following an overnight rate increase by the Federal Reserve. The Hang Seng Index fell 1.1 per ... ( read original story ...)
Hong Kong stocks see small rise as strong company earnings offset trade war concerns
Hong Kong stocks eked out a small gain on Tuesday, as optimism over company earnings after Sunny Optical Technology Group posted strong results offset concerns that planned US tariffs on Chinese goods could spark a trade war. The Hang Seng Index added 0.1 ... ( read original story ...)
Hong Kong plans ‘to overtake Nasdaq’ as listing destination of choice for Chinese biotech firms
Wall Street cheers Hong Kong’s IPO rules revamp but sees New York’s dominance unthreatened Meanwhile, asked if the Shanghai bourse’s plan to allow non-mainland listed firms to issue shares traded in the mainland via the so-called Chinese Depository ... ( read original story ...)
No Revenue? No Problem—Hong Kong Draws Biotech Firms Looking to List
U.S. companies looking to go public include Moderna Therapeutics Inc., a Cambridge, Mass.-based startup that is considering a dual listing on Nasdaq and Hong Kong as early as next year, according to a person familiar with the company’s plans. Moderna ... ( read original story ...)
NKorean sanctions evasions reveal Hong Kong’s middleman role
The findings underscore rising concern over the southern Chinese financial capital's role as a nexus for North Korea's underground business network, which has led the U.S. government to urge Hong Kong authorities to crack down. The corporate registration ... ( read original story ...)
One in seven in Hong Kong is a millionaire as property and stock market rallies boost wealth
Hong Kong millionaires said 55 per cent of their money was generated from their salary, while mainlanders said 55 per cent accumulated their wealth from running a business. The rest was from investments and inheritance from parents. About 71 per cent of ... ( read original story ...)
Chinese drone maker DJI seeking at least $500 million in pre-IPO funding: sources
HONG KONG (Reuters) - China’s SZ DJI Technology Co Ltd ... the company had no announcement to make on fundraising and that it was not planning an initial public offering at the moment. She did not elaborate. DJI was valued at about $8 billion in 2015 ... ( read original story ...)
Hong Kong follows Fed hike, HKMA ready to defend peg as HK$ at new 33-year low
The move came as the Hong Kong dollar fell to a fresh 33-year low, and looked set to test the low end of its trading band, prompting the central bank to reaffirm it would intervene to defend the financial hub’s currency peg. The Fed raised interest rates ... ( read original story ...)
CPA Australia Survey: Hong Kong’s small businesses are becoming more tech savvy and experiencing positive business conditions
HONG KONG, March 22, 2018 /PRNewswire/ -- Hong Kong small businesses that are investing in technology are enjoying quick returns on their investment, which is leading to the sector topping small businesses from other advanced economies in the adoption of ... ( read original story ...)
Hong Kong Stocks May Open Under Pressure On Thursday
Industrial and Commercial Bank of China slid 0.15 percent and BOC Hong Kong collected 0.13 percent. The lead from Wall Street is soft as stocks saw considerable volatility in afternoon trading on Wednesday before ending the session modestly lower. ( read original story ...)
Hong Kong raises base rate after Fed hike, HK$ hits new 33-year low
The move came as the Hong Kong dollar fell to a fresh 33-year low, and looked set to test the low end of its trading band, which would prompt the de facto central bank to intervene. The Fed raised interest rates by a quarter of a percentage point in its ... ( read original story ...
Former Supreme Court of Canada chief justice Beverley McLachlin to be judge in Hong Kong
Hong Kong's top court has appointed former Supreme Court chief justice Beverley McLachlin to sit as a non-permanent common-law judge on the Court of Final Appeal. McLachlin, who recently retired from Canada's Supreme Court, will take up her new role once ... ( read original story ...)
Hong Kong’s new top Basic Law official: the bureaucrat involved in drafting recent amendments to China’s constitution
In what is being seen as a move to highlight the importance of the national constitution for Hong Kong and Macau, bureaucrat Shen Chunyao ... as head of both the Basic Law committees of the two cities, state news agency Xinhua reported. ( read original story ...)