Latest news with #Mainland
South China Morning Post
17 hours ago
- Business
- South China Morning Post
Chinese firms eye Hong Kong listings after mainland investors' US$93 billion buying spree
A slew of mainland-listed Chinese technology companies are speeding up fundraising plans in Hong Kong to capitalise on the upbeat market sentiment. Hong Kong's equity market has been buoyed by mainland investors' record buying of HK$731.2 billion (US$93.1 billion) of stocks in the first half of the year, according to Hong Kong Exchanges and Clearing (HKEX) data and Bloomberg on Monday. The buying spree, driven by attractive valuations and a re-rating of China's technology sector, has led to a growing number of A-share companies seeking dual listings in Hong Kong. From electric vehicle battery maker Sunwoda Electric Vehicle Battery to biopharmaceutical maker Changchun High-Tech Industry Group and smart-city solutions provider PCI Technology Group, companies are keen to take advantage of the city's deep liquidity pool, international investor base and favourable valuations to accelerate their global expansion, diversify their funding sources and enhance their international profiles. Sunwoda Electric Vehicle Battery is among a slew of Chinese firms seeking a Hong Kong listing. Photo: Handout Improved investor sentiment in Hong Kong's secondary market and a rebound in companies' valuations have made the city a more attractive listing destination for A-share companies, said Kenny Ng Lai-yin, a strategist at Everbright Securities International.
Bloomberg
21 hours ago
- Business
- Bloomberg
Chinese Investors Dump Tencent, Xiaomi Shares as Rally Fizzles
Chinese investors ditched some of the biggest tech stocks in Hong Kong last month, testing the resilience of their market-beating rally this year. Mainland investors offloaded a combined HK$46.4 billion ($5.9 billion) worth of Tencent Holdings Ltd., Xiaomi Corp. and Alibaba Group Holding Ltd. shares through the trading links with the financial hub in June, according to Bloomberg calculations based on exchange data. They were also net sellers of the three stocks in May.
South China Morning Post
18-06-2025
- Business
- South China Morning Post
Beijing's reform could bring Hong Kong-listed Alibaba, Tencent to Shenzhen: HSBC
Beijing's latest reform to allow Hong Kong-listed companies to seek secondary listings in Shenzhen could bring mainland China's most valuable tech companies such as Alibaba Group Holding and Tencent Holdings home, according to an HSBC report on Wednesday. Mainland authorities on June 10 unveiled a sweeping set of guidelines that proposed allowing Hong Kong-listed companies to issue yuan-denominated A shares on the Shenzhen Stock Exchange. This initiative is a strategic effort to deepen Shenzhen's role as a financial hub, while also making the A-share market more attractive to both investors and issuers, HSBC analysts said. They noted that mainland markets lacked large-cap internet and technology companies, while the Hong Kong market was short on hard technology and advanced manufacturing firms. By allowing H to A listings, Beijing hoped to bridge the gap and 'deepen the reform and opening-up of Shenzhen', they added. Chinese tech giant Tencent could be among the Hong Kong-listed companies allowed to seek a listing in Shenzhen. Photo: Shutterstock While the guidelines did not specify which companies would qualify for H+A listings or include details about the application process, HSBC identified two main groups that could benefit from the reforms.
South China Morning Post
16-06-2025
- Business
- South China Morning Post
Hong Kong stocks waver on China's mixed economic data; drug companies lead decline
Hong Kong stocks swung between gains and losses after China reported a mixed bag of economic data from May. The Hang Seng Index rose 0.1 per cent to 23,907.52 as of 10.23am local time. The Hang Seng Tech Index gained 0.4 per cent. On the mainland, the CSI 300 Index climbed 0.1 per cent, and the Shanghai Composite Index added 0.2 per cent. Drug companies led the decline. Wuxi Biologics slumped 6.3 per cent to HK$26.30, Sinopharm Group lost 4 per cent to HK$18.44 and Sino Biopharmaceutical retreated 2.7 per cent to HK$5.38. Tempering losses, Chow Tai Fook Jewellery Group jumped 5.4 per cent to HK$13.64 on higher gold prices. China Life Insurance added 2.7 per cent to HK$18.40, and China Merchants Bank gained 2.4 per cent to HK$53.10. Retail sales grew 6.4 per cent last month, the fastest pace since December 2023, the National Bureau of Statistics said on Monday. That exceeded all the estimates of the economists polled by Bloomberg.
South China Morning Post
15-06-2025
- Politics
- South China Morning Post
Beijing's top Taiwan official warns independence forces will bring ‘disaster' to island
Mainland China's top official on Taiwan affairs has called on both sides of the Taiwan Strait to oppose 'Taiwan independence and external interference' and promote closer integration. Advertisement 'Taiwan independence forces and their activities undermine national sovereignty and territorial integrity, disrupt peace and stability in our homeland, and incite confrontation and division among compatriots,' said Wang Huning , the fourth-ranking official of China's ruling Communist Party. He made the comments at the opening ceremony of the annual Straits Forum in Xiamen, Fujian province on Sunday. 'They will only bring disaster to the people of Taiwan,' added Wang, who is also chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top advisory body Wang described cross-Strait relations, as well as the current international situation, as 'complex and severe'. Fujian provincial party chief Zhou Zuyi vowed to optimise the business environment for Taiwanese companies and adopt policies to promote integrated development, 'making new contributions to the great cause of national reunification'. Advertisement
