Asia

05 Jan Hong Kong’s airport authority to launch US$640 million retail bond, its first in 20 years, to finance third runway

Posted at 07:18h in Asia

“We want to issue the retail bonds to give Hong Kong residents a chance to participate in the third runway project,” Julien Lee, executive director of finance at AAHK, said at a media briefing on Friday.(From left) William Shek, managing director and head of markets...

05 Jan China’s best-performing fund strikes gold in nascent Beijing bourse for start-ups

Posted at 07:14h in Asia

China’s best-performing mutual fund of 2023 sees more gains in the volatile corner of the market where it derived enough upside to beat its more than 7,000 competitors last year.The fund, whose mandate requires it to invest at least 80 per cent of its equity...

05 Jan China carmakers miss 2023 sales goal as competition intensifies

Posted at 06:51h in Asia

Just a third of Chinese carmakers met their annual sales goal in 2023 as competition in the world’s largest car market heats up.Only four of the 13 brands that have disclosed annual sales figures accomplished their targets, led by electric vehicle maker Li Auto, which...

05 Jan Opinion | No recession in 2023 but it’s not yet time to breathe a sigh of relief

Posted at 06:30h in Asia

First, it remains possible the gloom a year ago was well justified, and a recession still hangs over us. Fears have abated but not gone away. True, the alarming increase in inflation post-pandemic seems to now be under control (at about 3 per cent in...

05 Jan Hong Kong’s first IPO of the year makes weak trading debut as RoboSense Technology shares drop in a tepid market

Posted at 05:45h in Asia

Shares of RoboSense Technology, a Chinese maker of sensors for self-driving cars, fell on their Hong Kong trading debut on Friday after the company made the city’s first initial public offering (IPO) of the year.The Shenzhen-based company’s stock, which trades under the 2498 code, lost...

05 Jan Hong Kong-listed Chinese miner CMOC takes Glencore’s cobalt crown as output jumps 170% in 2023

Posted at 05:24h in Asia

China’s CMOC Group boosted its cobalt output by more than 170 per cent last year, with surging production at a new mine in the Democratic Republic of Congo helping the company leapfrog Glencore as the world’s top producer of the key battery metal.Hong Kong-listed CMOC...

05 Jan For Hong Kong designer Nelson Chow, a disciplined approach drives both his career and financial success

Posted at 04:00h in Asia

For Hong Kong designer Nelson Chow, a disciplined approach drives both his career and financial successReal estate, vintage watches, artworks and sculptures – these are among the items that architect and interior designer Nelson Chow would buy if given HK$8 million (about US$1 million) to...

05 Jan Hong Kong stocks set to cap loss in first week of 2024 on China growth concerns and US rate outlook

Posted at 02:38h in Asia

Hong Kong stocks were heading for a loss in the first week of 2024, as a slowdown in China’s growth and longer than expected policy tightening in the US dented sentiment.The Hang Seng Index fell 0.1 per cent to 16,637.83 as of 10am local...

05 Jan Hong Kong-based AI-driven company sells potential breast cancer drug in deal whose value could exceed US$500 million

Posted at 01:00h in Asia

Insilico Medicine, a Hong Kong-based AI-driven drug discovery company that intends to list in Hong Kong after it unveiled an initial public offering plan (IPO) last year, has sold its preclinical drug candidate for breast cancer treatment to Italy-based pharmaceutical company Menarini Group in...

04 Jan Chinese EV maker Hozon predicts fivefold jump in overseas sales as growth slows in hyper-competitive domestic market

Posted at 22:00h in Asia

Chinese electric vehicle (EV) start-up Hozon New Energy Automobile expects its sales outside mainland China to jump five-fold in 2024 as the country’s increasingly confident carmakers look to international sales to counter slowing growth at home.The Shanghai-based maker of Neta-branded cars, aims to deliver...