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HKEX’s bid for London bourse highlights flurry of big-ticket M&A deals, doubts about Hong Kong’s ‘gateway to China’ future

Hong Kong Exchanges and Clearing’s surprise bid for the London Stock Exchange highlights two significant changes afoot: consolidation in the world’s stock markets and the tougher challenge Hong Kong faces in selling itself as the needed gateway to China, as increasingly violent protests ratchet up questions about its future.HKEX’s US$36.6 billion takeover bid – which it continues to push despite the London exchange’s quick and sharply worded rejection – would be one for the history books. If it… Source link

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Money 

‘It all started from Hong Kong’: two of Southeast Asia’s richest men on early success and the belt and road plan’s future

Two of Southeast Asia’s most prominent members of the Chinese diaspora, businessmen Dhanin Chearavanont and Mochtar Riady, took the stage at the Hong Kong Trade and Development Council’s Belt and Road Summit on Wednesday to reminisce about being early investors on the mainland.The tycoons emphasised their belief in China’s economy and President Xi Jinping, and described how Hong Kong had played an essential role in their early successes – and could do so today for investments related to the… Source link

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Singapore 

Why should parents care about esports? An industry expert explains why gaming holds a lucrative future, Digital, Singapore News

Esports are simply inescapable in 2019. There’s obviously big money in it — a teen scored $4.1 million for being a Fortnite Champ; professional Dota 2 players brought home over $20 million for coming out on top in a global tournament; Razer’s CEO is pledging $10 million to build up Singapore’s esports and gaming industry.  To give you a sense of how serious esports are today, even the Singapore government is getting into an activity once perceived as something that snivelling, antisocial individuals who live in their parents’ basement are…

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Markets remain confident about Hong Kong’s future, even though poor leadership is undermining it

Financial markets are notoriously poor at assessing and pricing “tail risks”, improbable yet dramatic events that spread panic across asset classes and often pose a systemic risk. The threat of military intervention to quell the protests that have wracked Hong Kong for the last three months is one of several tail risks investors are having to contend with. A crackdown would put an end to the “one country, two systems” arrangement, affecting the safe haven status that underpins the city’s role… Source link

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Shanghai seizes chance to showcase future mobility with robo-taxi trials

Within months, tourists from across China and the world will be able get a taste of future transport by hailing a robotaxi in Shanghai.Didi Chuxing, the country’s biggest ride-hailing platform and AutoX, a Chinese autonomous driving start-up, are nearing the launch of self-driving pickup services in the city, the two companies announced on the sidelines of the Shanghai Artificial Intelligence Conference that ended Saturday.Didi follows Google with plan to set up independent self-driving unitThe… Source link

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Despite the best efforts of Trump and Boris Johnson, the future of globalisation is secure as long as the US and China stay on track

Images of US President Donald Trump and Chinese President Xi Jinping on the computer screen of a currency trader at a bank in Seoul, South Korea, on August 26. Asian shares tumbled on that day, after the latest escalation in the US-China trade war renewed uncertainties about global economies. Photo: AP Source link

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Property 

Wharf Holdings warns China’s stringent property curbs could weigh on future profit

Hong Kong-listed Wharf Holdings, a leading developer in China with 100 billion yuan (US$14.2 billion) worth of assets, said mounting curbs in the mainland’s housing market could seriously affect its profitability, as it posted a 12 per cent drop in first-half underlying profit.The company’s underlying profit stood at HK$2.24 billion (US$285 million) for the six months ended June 30 versus HK$2.53 billion a year earlier.“This year, we see the severity of the curbs is even more higher,… Source link

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China 

Beijing’s controversial ‘Made in China 2025’ plan is a linchpin of Northeastern rust belt’s future

While Beijing may be keeping its controversial “Made in China 2025” industrial strategy away from public discussion, the state-driven plan to lift Chinese manufacturing up the value chain is the bedrock of economic revitalisation in Liaoning, one of the three provinces of China’s Northeastern rust belt.The four-year-old plan that aims to wean China off its reliance on foreign technology and imports, and build global hi-tech champions, has become a political flashpoint for the US-China trade war… Source link

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Digital Domain, Hong Kong-based visual effects studio behind Avengers and Titanic is betting on future of 5G, virtual reality

It has destroyed the world nine times on film and brought Thanos to life in Avengers: Infinity War and Avengers: Endgame.But now Digital Domain Holdings, the Hong Kong-based parent company of visual effects studio Digital Domain 3.0, is making a big bet on its future growth away from the silver screen, according to its boss.The company is exploring the use of innovations to create so-called virtual humans on stage and on screen, alongside virtual reality and 5G technology, for wider consumer… Source link

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Future Land offloads eight projects to Jinke Property for US$400 million as it reels from arrest of ex-chair Wang Zhenhua for alleged child sex abuse

Future Land Development, the Chinese builder whose former chairman was arrested on suspicion of molesting a child, has sold eight real estate projects to various subsidiaries of Shenzhen-listed Jinke Property Group for a total of 2.74 billion yuan (US$400 million).The troubled company said in an exchange filing on Sunday evening that the disposal to Jinke, which is principally engaged in residential development, technology investment and cultural tourism, also involved shareholder loans tied to… Source link

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