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14 Feb Hong Kong shares extend slump into Year of Dragon after MSCI removes dozens of Chinese stocks from benchmark indices

Posted at 02:38h in Asia

Hong Kong stocks tumbled as trading resumed after the Lunar New Year holiday, along with weaker regional equity markets. Index provider MSCI removed dozens of Chinese stocks from its global benchmark indices in a review, after more than a trillion-dollar rout in the market...

14 Feb Temu splashes out on Super Bowl ads as interest on the Chinese e-commerce app fades among US shoppers

Posted at 02:30h in Asia

Temu spent big at the Super Bowl on Sunday night, airing its advertisement six times and offering US$10 million in giveaways as it hopes to reinvigorate wavering US growth.Observed sales fell 12.5 per cent month-on-month in December and 4.8 per cent in January, a...

14 Feb Developer China South City stock sinks 20% in Hong Kong after warning of multiple bond defaults

Posted at 02:02h in Asia

Chinese developer China South City Holdings plunged 20 per cent to a new 52-week low after it warned last week that it would default on multiple bonds maturing this year.The Shenzhen-based company tumbled to HK$0.169 at 9.50am local time in Hong Kong from HK$0.212...

14 Feb Hong Kong’s talent base lends expertise to rapidly growing Asian private credit market, APLMA CEO says

Posted at 01:30h in Asia

Hong Kong’s sophisticated investor base is bringing lending expertise to Asia’s private credit market, giving further impetus to the rapidly growing asset class, according to the new head of the regional industry body, the Asia-Pacific Loan Market Association.The region’s assets under management in private credit...

14 Feb From AI-powered bunnies to ‘live’ figures, start-up reinvents smart toys with ChatGPT-like tech and China-designed chips

Posted at 01:30h in Asia

Two Chinese entrepreneurs are experimenting with generative artificial intelligence (AI) to transform traditional companion toys into smart robots designed to hold natural conversations with children, riding on a growing trend of technology-infused toys.Founded by Larry Wang and Guo Xinghua last August, Shanghai-based start-up FoloToy has...

14 Feb China’s gold jewellery market shines as culturally resonant designs draw young buyers to safe-haven metal

Posted at 00:30h in Asia

The rise of the guochao or “China chic” trend, which celebrates Chinese identity, coupled with the increasing value of gold, has created significant market opportunities in the gold jewellery market in China, which was valued at 410 billion yuan (US$57 billion) in 2022, according to...

14 Feb Bell CEO, other execs called to committee to answer questions about job cuts

Posted at 00:04h in Canada

Members of Parliament have invited several top executives from BCE Inc. and Bell Canada to testify later this month about the company's decision to cut about nine per cent of its workforce this year.The House of Commons heritage committee agreed to invite BCE Inc. CEO Mirko...

13 Feb Fund managers want Beijing to do more to keep the US$380 billion rally in Chinese and Hong Kong stocks going

Posted at 23:30h in Asia

“In this delicate scenario, it may be advantageous to remain nimble and flexible,” said Redmond Wong, a strategist at Saxo Markets in Hong Kong. “Short-term traders can find opportunities amid volatility. The stocks of state-owned enterprises and large caps will benefit from the [state] buying....

13 Feb Jobseekers, employers in Hong Kong’s financial services sector have kicked off 2024 on cautious note: recruiters

Posted at 22:30h in Asia

Hong Kong’s financial services industry employed 269,700 people in 2022, dropping about 3 per cent from the previous year, according to the Census and Statistics Department. Moreover, equity markets in Hong Kong and mainland China are among the worst performers globally this year amid...

13 Feb Value of Chinese businesses listed on US stock exchanges dropped significantly in 2023

Posted at 22:26h in Asia

Chinese company profits and share prices have fallen sharply, with Chinese and Hong Kong shares ending 2023 down 10 per cent, some of the world’s worst performing equity markets. 05:39Hong Kong stock market falls below 15,000 level, its lowest in 15 monthsHong Kong stock market falls...

Author: admin