Alibaba-invested e-commerce firm Huitongda went public at the Hong Kong Stock Exchange today. … [+] Photographer: Roy Liu/Bloomberg © 2020 Bloomberg Finance LP Alibaba-backed Huitongda Network rose on its debut at the Hong Kong Stock Exchange today, lifting the fortune of its billionaire chairman Wang Jianguo. Shares in the provider of retail supply chain services…
China Last Night KraneShares Key News It might be Valentine’s Day, but we got no love overnight as Asian equities were risk-off on Ukraine/Russia fears though Australia and the Philippines were outliers as their stock markets managed gains. Geopolitics was no cupid, but rather the culprit for today’s market action though there were a few…
Huabao International’s shares trade at the Hong Kong Stock Exchange. (NICOLAS ASFOURI/AFP via Getty … [+] Images) AFP via Getty Images The daughter of Huabao International Holdings Co-Chairman Chu Lam Yiu, one of China’s richest women, has been named an executive director at the company amid a government investigation into suspected wrongdoing by her mother.…
China Last Night KraneShares Week in Review A rumor that Alibaba’s registering of 1 billion new shares on Friday was linked to SoftBank selling its stake weighed on China internet stocks on Monday. SoftBank denied the rumor on Wednesday, which led to a jump in Alibaba shares. The registration was likely due to ADR conversion.…
A customer collects a take-out order in a KFC restaurant in Shanghai last September. Photographer: … [+] Qilai Shen/Bloomberg © 2021 Bloomberg Finance LP Multiple waves of Delta variant outbreaks persisted throughout the fourth quarter of 2021 in mainland China, hurting business at Yum China, the company said in its latest earnings report today. Spun…
“You’d be a fool to underestimate the role of China – its 1.4 billion people, its increased … [+] demographics, its increased quality of film, its increased budgets, its increased box office,” IMAX CEO Rich Gelfond says. IMAX IMAX China, the Hong Kong-listed subsidiary of Canadian-American film technology supplier IMAX, said on Monday its business was…
China Last Night KraneShares Key News Asian equities were mixed overnight as China, Singapore, and Indonesia outperformed while India and the Philippines underperformed. Citi’s internet analyst is reporting that Alibaba’s registration of 1 billion new shares on Friday is due to SoftBank, which reports earnings tomorrow, preparing to sell shares. Alibaba HK fell -4.49% on…
HONG KONG, CHINA – JANUARY 20: A hamster sits in a cage after being adopted by volunteers who … [+] stopped an owner from surrendering it to the government outside the New Territories South Animal Management Centre on January 20, 2022 in Hong Kong, China. Hong Kong’s pet shop owners have criticized but complied with…
Lim Kok Thay, CEO of the Genting Group, watches the ceremonial commissioning of a new laser hybrid … [+] panel line at the Warnemünde site of MV Werften on November 28, 2018. Bernd Wüstneck/picture alliance via Getty Images Malaysian billionaire Lim Kok Thay has stepped down as chairman and CEO of Genting Hong Kong just…
China Last Night KraneShares Week In Review China reported Monday that the country’s GDP grew at a better than expected +8% in 2021, though Q4 GDP disappointed at only +4%. Monetary policy easing was the key word in China this week as the PBOC announced cuts to the medium-term lending facility (MLF), reverse repos, and…