Author: admin

03 Jan Hong Kong home sales sink to 33-year low in 2023 amid high interest rates as sector sees glimmers of rebound in December

Posted at 01:30h in Asia

Property transactions in Hong Kong descended to the lowest level in 33 years in 2023 as sentiment among potential homebuyers was submerged under a deluge of poor economic news and high interest rates, although December’s sales figures showed some rebound.A total of 58,023 properties changed...

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02 Jan Sanctioned Chinese companies, shunned by foreign funds, are top picks and winners at local funds

Posted at 23:30h in Asia

Some of China’s best performing stocks in 2023 were among top companies shunned by foreign investors because of sanctions imposed by the US government. Buying them may prove to be profitable again for unencumbered onshore funds in an election year in the US.China’s biggest...

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02 Jan Air Canada lands last in on-time flights in ranking of North American airlines

Posted at 20:09h in Canada

Air Canada notched the worst on-time performance among 10 large airlines in North America in 2023, according to a new report.The country's biggest carrier landed 63 per cent of its flights on time last year, placing it last among the continent's 10 largest airlines, according to Cirium,...

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02 Jan Exclusive | Veteran Chinese video gaming official steps down in wake of market rout linked to proposed rule changes, sources say

Posted at 14:00h in Asia

A key Chinese official involved in oversight of the country’s video gaming industry has stepped down after proposed regulation last month wiped out billions of dollars of value from Chinese gaming stocks, according to people familiar with the situation.Feng Shixin, a long-serving official, has left...

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02 Jan Chip industry giant ASML blocked by US, Netherlands from shipping equipment to China ahead of export deadline

Posted at 13:00h in Asia

Under US pressure, ASML already restricts Chinese clients from buying its more advanced extreme ultraviolet (EUV) lithography systems, which are used to produce the world’s most cutting-edge chips. ASML has a near monopoly on the machines.China’s Ministry of Foreign Affairs spokesperson, Wang Wenbin, gestures during...

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02 Jan China’s BYD poised to overtake Tesla as world’s largest maker of pure-electric vehicles on fourth-quarter EV sales surge

Posted at 12:30h in Asia

BYD, already the world’s largest producer of electric vehicles (EVs) – a category that includes plug-in hybrid cars – is poised to gain more bragging rights as global deliveries of its “pure”, battery-powered EVs are expected to have surpassed Tesla’s in the fourth...

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02 Jan Baidu’s move to cancel YY Live acquisition amid fierce market competition, tougher regulation a boon to firm’s AI business expansion, analysts say

Posted at 11:30h in Asia

This move was “not totally unexpected, given investors have been waiting for more details in past years”, Jefferies equity analysts Thomas Chong and Zoey Zong said in a research note on Monday, following Baidu’s announcement. They indicated that China’s internet sector “has been undergoing changes”,...

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02 Jan Hong Kong home prices to erode another 10% in 2024 as impact of expected interest-rate cuts will take time: Citigroup

Posted at 10:30h in Asia

Hong Kong’s home prices will drop another 10 per cent in 2024 as a looming supply glut and high interest rates continue to suppress investment sentiment even though the local stock market may rebound by midyear, according to Citigroup.The US Federal Reserve will start cutting...

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02 Jan Hong Kong’s IPO market to stabilise amid listing reforms and lower interest rates, PwC says

Posted at 09:41h in Asia

Hong Kong’s initial public offering (IPO) market will gradually stabilise this year notwithstanding the geopolitical tensions and economic uncertainties globally, aided by listing reforms and potential interest rate cuts in the second quarter, according to PwC.Hong Kong’s capital market will benefit from a drop...

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02 Jan HSBC takes on Revolut, Wise with new forex app for non-customers

Posted at 07:57h in Asia

HSBC Holdings is set to debut an international payments app aimed at directly challenging the dominance of fintechs like Revolut and Wise that have gathered tens of millions of retail customers by offering cheap foreign exchange.Zing will initially be offered in the UK, but Europe’s...

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