Global capital rushed to Wall Street after the US Federal Reserve raised its key interest rate by five percentage points from 2022 and initial public offerings (IPOs) slowed to a trough in Hong Kong. Kong.
04:43
HKEX considers opening offices in US, Europe to court global listings
HKEX considers opening offices in US, Europe to court global listings
01:04
Saudi Future Investment Institute holds first Asian conference in Hong Kong
Saudi Future Investment Institute holds first Asian conference in Hong Kong
Chan, who wrote the document that formed the legal basis for listing reforms on the HKEX to allow dual-class shares, can draw some confidence from the story.
The Hang Seng Index has increased in each of the four dragon years of the lunar calendar since 1976, according to a Post study. Even in 2000, the lunar cycle managed to eke out a 0.5 percent gain in a market that fell 11 percent during the calendar year after the dot-com bubble burst.
60 second catch up
Deep dives
Hong Kong bankers in 'survival mode' as IPO drought ends windfall
-
"The current environment is very stressful, especially for young investment bankers," says Jerry Chang, a consultant at Barons & Co.
-
The picture has changed considerably since last quarter, with an overall decline in hiring across the investment banking sector: Robert Walters
This year, five companies have raised HK$2.18 billion (US$279 million) from their share offerings in the first two months, according to data compiled by the London Stock Exchange Group, the slowest boost since 2011. In China mainland, 18 IPOs generated $15.2 billion. yuan ($2.1 billion), the lowest figure since 2016 at this stage. In contrast, the US market is enjoying its best streak in three years, with 26 IPOs and $6.3 billion in profits.
China's push into bonds and wealth products a plus for Hong Kong
-
The policies will be a boon for central bank digital currencies, such as Hong Kong's e-HKD and the mainland's e-CNY, as they get the go-ahead for simultaneous testing.
-
Another new policy known as cross-border credit referencing will allow Hong Kong and mainland banks to share credit information on companies.
Hong Kong's role as an offshore yuan trading hub will benefit from policies unveiled by the People's Bank of China to improve wealth management and the Bond Connect cross-border investment channel, according to speakers at the Asian Financial Forum (AFF).
The new policies will also benefit Hong Kong property developers as they relaxed cross-border payment rules between the 11 Greater Bay Area cities to make it easier for Hong Kong and Macau residents to purchase homes in southern China. said the head of New World Development. Chief Financial Officer Edward Lau Fu-keung.
Hong Kong's star shines as Greater Bay Area's rich take advantage of tax breaks and incentives
-
Money flows from the Greater Bay Area have boosted Hong Kong's wealth management assets by almost 30 percent to $3.9 trillion in the five years to the end of 2022.
-
Starting February 26, the Wealth Management Connect scheme will expand for Bay Area residents with increased investment fees and fund options.
February 18 marks five years since Beijing unveiled its plan to turn the Greater Bay Area into a high-tech powerhouse by 2035. The region of more than 86 million people covers Hong Kong, Macau and nine cities. from Guangdong.
In the third of a four-part series, Enoch Yiu looks at Hong Kong's progress toward becoming the de facto wealth management center for the wealthy, and what needs to be done to stay on top.
Hong Kong IPO: This is what awaits us in 2024 after a miserable 2023
-
The Hong Kong Stock Exchange's IPO ranking fell to eighth place this year, with fundraising falling to $5.9 billion from 68 listings.
-
Analysts are confident Hong Kong can shrug off a gloomy year, pointing to a number of positive signs including potentially lower interest rates and China's political momentum.
Double counter to elevate Hong Kong yuan's hub status and improve liquidity
-
The dual-currency counters will offer investors the option to trade in Hong Kong dollars or yuan and the two categories of shares will be fungible.
-
The number of yuan share class funds has almost doubled to 377 by the end of 2022 from 191 in 2018.
"Thirty years ago, international investors did not care about yuan stocks listed in Shanghai and Shenzhen," said Chan, honorable permanent president of industry body Institute of Securities Dealers, referring to the indifference towards the undervalued currency, which was heavily linked to the dollar.
Does Trump want to separate Wall Street from Chinese companies?
-
Chinese companies are asking the "difficult question" of whether they should list in the US or Hong Kong
-
If the United States cannot be seen as a viable and stable counterpart, "we are going to have a competitor somewhere in the world," says the New York University finance professor.
As the White House continues to pressure Beijing to reach a trade deal, concerns are growing that the Trump administration may try to exclude Chinese companies from U.S. capital markets.
It would mark a sea change in policy and politicize what has been one of the key principles driving massive gains in American financial markets for decades: the free flow of capital.
Global Impact is a curated weekly newsletter featuring a news topic originating in China with significant macro impact for our news readers around the world.
