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Smartphone giant Xiaomi, Tencent Music among a dozen stocks to be added to MSCI China Index

Smartphone giant Xiaomi and online video platform Iqiyi are among a dozen listed companies to be added to MSCI’s benchmark Chinese equities gauge, the global index compiler announced on Monday. The inclusion of the stocks in the MSCI China Index at the end of February is likely to benefit them in the long term because they may attract global funds that track such indexes, said analysts. MSCI claims to serve “99 of the top 100 largest money managers”. “Those funds will not buy and sell frequently but [they will] hold…

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China’s co-working operators squeezed by a lack of funding are shutting down by the dozen

A drought in financing from venture capitalists has affected co-working space operators who have been heavily reliant on funding to fuel their rapid expansion and valuation. And amid the funding crunch, even major operators such as Kr Space have found the going tough. Forty companies in the shared-office sector have vanished in the 10 months from January to October 2018, while about 40 per cent of co-working projects are more than half empty, according to a report by the China Real Estate Chamber of Commerce (CRECC), an information exchange platform…

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Property 

Link Reit sells a dozen suburban Hong Kong malls to consortium led by Gaw Capital for US$1.53 billion

Link Reit, Asia’s largest real estate investment trust, said it would sell 12 shopping centres and malls in Hong Kong to a consortium led by Gaw Capital Partners for a combined HK$12 billion (US$1.53 billion), according to a press statement. The shopping centres include the Lei Tung Estate mall in Ap Lei Chau, the Wang Fai Centre in Wang Tau Hom, the Shan King Commercial Centre in Tuen Mun, and the Chun Shek Commercial Complex in Sha Tin, Link said. The disposal follows an announcement in September by Link to…

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