Investment 

American Chamber of Commerce in China says smoothly functioning commerce in Hong Kong ‘fundamentally important’

An influential American business group in China said that a “smoothly functioning” system of commerce in Hong Kong was “fundamentally important” to the business interests of its members in the mainland.The comments by the American Chamber of Commerce in China come as business in the city has faced disruptions over the past nine weeks as protests and civil unrest over a now-suspended extradition bill have blocked streets, shut down parts of the city’s transit system and forced the cancellation… Source link

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Investment 

Hong Kong’s biggest corporate chieftains are better off than shareholders as median executive pay outstrips stock performance

Tencent Holdings, China’s largest games publisher, is now the biggest pay master among Hong Kong-listed companies. From left: Chief Strategy Officer James Mitchell, President Martin Lau Chi-ping, Chairman and CEO Pony Ma Huateng and CFO John Lo Shek-hon during an event on 21 March 2018. Photo: SCMP/Winson Wong Source link

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Investment 

Dutch consumer finance lender Home Credit, popular in China, plans to file US$1 billion IPO in Hong Kong

Home Credit, a consumer finance lender that counts China as its biggest market, said it plans to file an initial public offering in Hong Kong later this year, in what could be a potential test of investor appetite in the city’s markets.The filing on Monday comes two days after brewing giant Anheuser-Busch InBev scrapped plans for an offering of its Asian operations in Hong Kong, citing “prevailing market conditions”. The offering, which AB InBev hoped would raise as much as US$9.8 billion,… Source link

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Investment 

Hong Kong-listed Future Land chairman’s downfall once again highlights ‘key man risk’ for investors in China

The latest scandal from the mainland, this time involving the billionaire chairman of Chinese developer Future Land Development Holdings, has once again brought into focus “key man risk”.Investors are reeling from the shock arrest of Wang Zhenhua, one of China’s richest men and controlling stakeholder of Hong Kong-listed Future Land, for allegedly molesting a nine-year-old girl. It wiped out more than HK$33 billion (US$4.2 billion) from the company’s market cap since the arrest was confirmed by… Source link

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Investment 

Liquidnet CEO: Artificial intelligence is the future direction of finance

Seth Merrin, the chief executive of Liquidnet, is making a big bet that the future of trading – and the edge that traders and portfolios managers seek – will be driven by artificial intelligence.Merrin said one of the main problems that he hears from clients is how to improve performance, particularly as fund managers are increasingly overwhelmed with the amount of publicly available data that can influence investment decisions.But, very few of the privately held firm’s clients have the… Source link

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Investment 

Standard Chartered first quarter profit up 2 per cent as weak markets, lower wealth management activity weigh

Standard Chartered said on Tuesday that its profit rose 2 per cent in the first quarter, as a weak market environment and lower wealth management activity weighed on its results and trading revenue at its closest banking rivals.The bank, one of three lenders authorised to issue Hong Kong’s currency notes, reported a profit of US$818 million in the first quarter, compared with US$803 million in the same period a year ago.In the quarter, Standard Chartered took a previously announced charge of US… Source link

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Investment 

Tesla gets restraining order against short seller for stalking factory, harassing workers

Elon Musk’s war with Tesla short sellers just got weirder.The electric carmaker claims a California man who it says is part of an online group of short sellers has been stalking its Fremont factory and harassing its employees – including dangerously swerving his car towards a Tesla Model 3 that was on a motorway test drive and injuring a Tesla security guard in a hit-and-run on company property.Tesla persuaded a state court judge on Friday to issue a temporary restraining order requiring the… Source link

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Investment 

Tencent Holdings to buy back 10 per cent of shares to shore up stock price

Tencent Holdings, operator of China’s biggest social media and video gaming business, has proposed to buy back 10 per cent of its shares in a bid to shore up its share price.Tencent, which has the biggest weighting of 9.9 per cent on the Hang Seng Index, said in a filing to the Hong Kong stock exchange that the repurchase is subject to shareholder approval during the annual general meeting on May 15.The Shenzhen-based company currently has a total of 9.52 billion shares in circulation.Shares of… Source link

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Investment 

‘Yield is king’: real estate investors ditch New York, LA for second-tier US cities

Finding New York and Los Angeles far too expensive as investment options? Then it’s probably time to head for the less glamorous cities of Salt Lake City, Nashville, and Austin.Real estate experts believe that secondary cities in the United States are becoming more popular with investors looking for better returns, even though they could face higher risks and find it more difficult to re-sell in an economic downturn due to lower liquidity.“The cap rate difference in Charlotte, North Carolina… Source link

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