51 h. ago 361 Degrees pioneers digital payments under Hong Kong’s new regime

One of China’s biggest sportswear makers, 361 Degrees International, said it will adopt stablecoin payment and settlement for its overseas operations, becoming one of the first mainland retailers to make such a move as it seeks overseas expansion. The Xiamen-based company said in a Hong Kong stock exchange filing on Thursday that it planned to use stablecoins in transactions outside mainland China, covering offline stores, e-commerce sales, supply chain services and digital ecosystem...

Politics

51 h. ago 361 Degrees pioneers stablecoin payments in overseas businesses

One of China’s biggest sportswear makers, 361 Degrees International, said it will adopt stablecoin payment and settlement for its overseas operations, becoming one of the first mainland retailers to make such a move as it seeks overseas expansion. The Xiamen-based company said in a Hong Kong stock exchange filing on Thursday that it planned to use stablecoins in transactions outside mainland China, covering offline stores, e-commerce sales, supply chain services and digital ecosystem...

Economics

63 h. ago Hong Kong Stock ETFs Get Record China Money on AI, Biotech Craze

Hong Kong Stock ETFs Get Record China Money on AI, Biotech Craze  Bloomberg.com

Politics

4 d. ago Chinese EV maker Nio eyes US$1.1 billion in proceeds from share placement

Chinese electric vehicle (EV) maker Nio plans to raise more than US$1 billion in fresh funds with a share sale to enhance its development and replenish capital amid a price war. In a statement on Wednesday, the Shanghai-based carmaker said 181.8 million new shares would be issued, which would be allocated between its American depositary shares (ADS) and its ordinary stock. Nio is listed in the US, Hong Kong and Singapore. Investors can subscribe to the ADS, to be traded on the New York Stock...

Economics

4 d. ago HKEX reforms have made city world’s top fundraising hub for EV makers: official

Hong Kong Exchanges and Clearing (HKEX), operator of Asia’s third-largest stock market, has become one of the world’s largest fundraising platforms for the new energy sector, thanks to a slew of listing reforms to promote the city as a green finance hub, according to a government official. “There has been an active stream of listings of electric vehicle [makers and companies in the] EV supply chain, energy storage and hydrogen energy on the Hong Kong stock exchange,” said Salina Yan Mei-mei,...

Politics

1 week ago A rising stock tide lifts sales of all financial products in Hong Kong

Sales of non-listed investment products soared to a record last year in Hong Kong, as capital poured into mutual funds, debt and equity-lined financial products amid improving market sentiments, underscoring the city’s growth as a financial hub. Sales increased by 40 per cent from 2023 to a record HK$6.07 trillion (US$778.3 billion), according to a survey released on Thursday by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA). As many as 1.2 million...

Economics

2 w. ago Can China’s US$22 trillion savings and global investors propel markets higher?

In the second instalment of the two-part series on the outlook for the Hong Kong and mainland Chinese stock markets, Zhang Shidong and Yulu Ao look at the catalysts that could underpin the rally. Read part one here When Chinese stocks hit a 10-year high this week, Jian Shi Cortesi saw it as a sign that the rally could continue as overseas investors returned to the nation’s onshore and offshore equities, which are worth a combined US$20 trillion. The Switzerland-based investment director at GAM...

Economics

2 w. ago China’s retail investors armed with US$22 trillion are key to markets’ fortunes

In the second instalment of the two-part series on the outlook for the Hong Kong and mainland Chinese stock markets, Zhang Shidong and Yulu Ao look at the catalysts that could underpin the rally. Read part one here. When Chinese stocks hit a 10-year high this week, Jian Shi Cortesi saw it as a sign that the rally could continue as overseas investors returned to the nation’s onshore and offshore equities, which are worth a combined US$20 trillion. The Switzerland-based investment director at GAM...

Economics

2 w. ago Lidar sensor maker Hesai Group gets regulatory approval for Hong Kong IPO

Hesai Group, one of the world’s largest makers of automotive Lidar sensors, received the green light from China’s securities regulator to sell new shares in Hong Kong. The Shanghai-based company plans to issue up to 51.24 million shares on the Hong Kong stock exchange, according to a filing with the China Securities Regulatory Commission (CSRC) on Tuesday. The filing confirmed that the CSRC reviewed and acknowledged Hesai’s materials, without disclosing the fundraising size and timetable for...

Politics

2 w. ago Evergrande: China’s property giant delisted from Hong Kong stock exchange

Evergrande: China’s property giant delisted from Hong Kong stock exchange  The Guardian

Politics

2 w. ago China Evergrande Group delisted from Hong Kong stock exchange

China Evergrande Group delisted from Hong Kong stock exchange  uk.finance.yahoo.com

Politics

3 w. ago Dongfeng Motor to list EV unit in Hong Kong, privatise parent firm

Dongfeng Motor, a major state-owned Chinese carmaker, plans to privatise its Hong Kong-traded unit and list its electric vehicle (EV) subsidiary as part of a transition towards electrification. The company – based in Wuhan, the capital of central Hubei province – is offering shareholders HK$6.68 (US$0.85) per share, valuing the listed unit at HK$55.1 billion, according to a filing with the Hong Kong stock exchange late on Friday. The offer represents an 11.9 per cent premium over the closing...

Economics

3 w. ago Hong Kong’s rally has room to run on ‘reasonable’ valuations: Templeton

Hong Kong stocks remain favourable, as attractive valuations and easing tariff uncertainty have enhanced the predictability of corporate earnings on the city’s stock market, according to US fund manager Franklin Templeton. The firm, which manages US$1.5 trillion of assets worldwide, was “constructive” on Hong Kong and mainland China’s stock markets, as the valuations remained reasonable and Beijing had introduced supportive policies, said Ferdinand Cheuk, portfolio manager at Templeton Global...

Politics