stock – Asia Business

Loss-making Hareon Solar has cheapest stock in China, at just 0.02 per cent of liquor giant Kweichow Moutai’s share price

June 17, 2019 AsiaBcent, cheapest, China, giant, Hareon, Kweichow, Liquor, Lossmaking, Moutais, price, share, solar, stock

A struggling manufacturer of components for solar panels has set a new record for having the cheapest ever shares in China’s stock market.Shares of Hareon Solar Technology, which is set to be stripped of its listing status, were trading at 0.18 yuan (2.6 US cents) on Monday after declining for 14 consecutive days, making it the least valuable stock among the 3,000-plus companies on the mainland Chinese exchanges.The solar cell and module maker’s stock price is a mere 0.02 per cent that of… Source link

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London-Shanghai stock connect goes live, allowing foreign firms to list their shares in mainland China for the first time

June 17, 2019 AsiaBallowing, China, connect, firms, foreign, list, live, LondonShanghai, mainland, Shares, stock, Time

Foreign companies will be able to list their shares in mainland China for the first time starting today, with the official launch of the long-awaited London-Shanghai Stock Connect scheme.The groundbreaking project, which will enable firms listed in the UK and mainland China to raise funds on each other’s stock market, is seen as a major step for Beijing in its efforts to internationalise its markets. It had originally been scheduled to launch in December.Huatai Securities, one of China’s… Source link

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Alibaba applies for one-to-eight stock split to seek flexibility in its ability to raise capital, attract new investors

June 17, 2019 AsiaBability, Alibaba, applies, attract, capital, flexibility, investors, onetoeight, raise, seek, split, stock

Alibaba Group Holding, operator of the world’s largest e-commerce platform, has applied to split its ordinary shares, part of a move to increase the flexibility of its capital raising activities, including the issuing of new shares.The New York-listed Chinese e-commerce giant is proposing to split each of its ordinary shares into eight, according to a stock exchange filing. Under the changes, one American Depositary Share (ADS), which currently represents one ordinary share, will represent… Source link

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China still ‘exploring’ international board for foreign companies to raise funds on Shanghai Stock Exchange

June 14, 2019 AsiaBboard, China, companies, exchange, exploring, foreign, funds, International, raise, Shanghai, stock

Shanghai ambitions to transform itself into a global finance hub on par with New York and London includes a long-discussed international board to attract foreign corporate giants to raise funds on the mainland stock market.The plan is still alive, a key official says, but needs approval from the State Council, China’s cabinet.“We are exploring it, and I believe there will be some news about the board in foreseeable future,” Fang Xinghai, vice-chairman of the China Securities Regulatory… Source link

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Will stock picking managers help deliver US$85 billion to China’s A-share market?

June 12, 2019 AsiaBAshare, billion, Chinas, deliver, Managers, market, picking, stock, US85

As global indices compiler MSCI increases the weightage of Chinese A shares in its gauges, it remains to be seen if stock picking managers, who last month pulled record levels of capital out of China’s domestic stock market through the stock connects, will bolster their positions and increase there exposure.Investment banks have forecast that as much as 80 per cent of a potential US$70-$85 billion in net inflows into A shares this year, on the back of the increase in MSCI weightage, could come… Source link

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Time and again, stock markets reward investors unfazed by their wild swings

June 12, 2019 AsiaBinvestors, markets, reward, stock, swings, Time, Unfazed, wild

The books are closed and the results are in. With a 6.6 per cent decline, this has been the second-worst May for the S&P 500 since 1962. The Hong Kong stock market, meanwhile, has become the biggest victim of the US-China trade war among the major indexes, falling around 10 per cent over the same period. Somewhat ironically, this turnabout in the markets comes just after many of the major indexes booked their best April gains in about 10 years. So much for the stock market “melt-up” forecasts… Source link

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Stocks Blog: Traders look to China data for clues on stock direction

June 12, 2019 AsiaBBlog, China, clues, data, direction, stock, stocks, traders

Good morning, traders. More from the “Tariff Man” overnight. “It’s me right now that’s holding up the deal. And we’re going to either do a great deal with China or we’re not going to do a deal at all, ”US President Donald Trump said. Meanwhile, the SCMP reports that the US wanted “enormous, even hundreds” of changes to Chinese laws to protect intellectual property, which was a key factor in the collapse of trade talks. China May inflation data is to come out this morning. China Securities… Source link

Singapore

Commemorative $20 notes out of stock at several bank branches on first day, Singapore News

June 11, 2019 AsiaBBank, branches, Commemorative, Day, News, notes, Singapore, stock

SINGAPORE – New $20 notes issued to commemorate Singapore’s 200 years of history were all snapped up at some bank branches on Monday (June 10), the first day the note was available for exchange. Long queues were seen at many branches across the island from early morning. Five banks, responding to media queries, told The Straits Times that at least 40 per cent of their stocks had been depleted due to overwhelming demand. The note, issued by the Monetary Authority of Singapore (MAS) to mark Singapore’s bicentennial year, depicts the…

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Insider trading, fake disclosures targeted in crackdown by China’s stock market regulator

June 6, 2019 AsiaBChinas, crackdown, disclosures, fake, insider, market, regulator, stock, targeted, trading

China’s securities watchdog said it will be on the lookout for insider trading, stock manipulation and other misconduct as it tightens its scrutiny of corporate disclosures as part of a drive to bolster confidence in the world’s second-largest stock market.Fake disclosures and infringement of the interests of listed companies will also be major areas of the crackdown on fraudulent disclosure, the China Securities Regulatory Commission said in a statement on its website. Intermediary agencies… Source link

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Marco Rubio’s bill to increase the scrutiny of US-listed companies may be a boon to Hong Kong’s stock exchange. Here’s why

June 6, 2019 AsiaBbill, Boon, companies, exchange, heres, Hong, increase, Kongs, Marco, Rubios, scrutiny, stock, USlisted

A United States bill that proposes to delist Chinese firms that don’t open their audit books to American regulators could benefit Hong Kong Exchanges & Clearing Limited as companies instead turn to the city’s bourse.Dubbed the ‘Equitable Act’, the bipartisan bill’s sponsors include Marco Rubio, a long term critic of China’s governance and human rights record. While the measure covers all US-listed firms, the focus is on China and on allowing the Public Company Accounting Oversight Board (PCAOB)… Source link