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Stock exchange operator HKEX buys Shenzhen-based fintech company to raise capabilities, compete with global rivals

The operator of Hong Kong’s stock exchange is planning to make its first acquisition of a fintech company as it strives to upgrade its technology capabilities to compete with other bourses around the world.Hong Kong Exchanges and Clearing (HKEX), which runs the fifth largest stock market worldwide, has signed a letter of intent to buy a 51 per cent stake in Shenzhen Ronghui Tongjin Technology. The technology services provider, which has 200 staff, specialises in financial exchanges, regulation… Source link

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Big hedge funds dumped Alibaba, Facebook, Apple stock as market tumbled in fourth quarter

Prominent hedge fund managers sold out of Chinese technology stocks and dumped Silicon Valley majors such as Apple and Facebook while global stock markets cratered during the fourth quarter, according to securities filings released on Thursday. Activist hedge fund Jana Partners sold its position in Chinese e-commerce giant Alibaba Group Holding and reduced its stake in Apple by about 175,000 shares, slicing its position in the company by 63 per cent. Warren Buffett’s Berkshire Hathaway shrank its Apple stake to 249.6 million shares from 252.5 million shares in the fourth…

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Vietnam 

How to pop your cherry in Việt Nam’s stock market – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News Brian Spence* Congratulations! You’re ready to start investing. It might seem like a small step, but years from now you’ll look back and realise how meaningful this moment was to your financial future. This could be the defining decision that helped you achieve your financial dreams. However, dipping your toe into the waters of investing can seem a little daunting at first. Questions of which stocks to buy, how to manage risk and when to sell are likely to be at the front of…

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Vietnam 

Stock market a launch pad for firms: PM – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Việt Nam’s stock market had become a launch pad for the business community, supporting the equitisation of State-owned enterprises and helping create a more balanced and efficient structure in Việt Nam’s financial market, said Prime Minister Nguyễn Xuân Phúc. PM Phúc made the statement at a gong ceremony held at the Hà Nội Stock Exchange on Tuesday to open the first trading session after the Lunar New Year. At the ceremony, Phúc expressed his delight at the vigorous expansion of the…

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China 

You thought 2018 was bad for China’s stock market? Profit warnings suggest worse may be yet to come

Last year was a dreadful one for mainland Chinese equities as a slowdown in economic growth and the trade war with the US combined to crush market sentiment. The bad news for investors is that the worst may be yet to come. Preliminary announcements showed that 390 companies listed on China’s bourses are set to report a combined loss to the tune of 330 billion yuan (US$49 billion) for 2018. That means the total loss for the country’s listed firms is on track to be three times greater than a…

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It’s party time as the Year of the Pig is welcomed in at the Hong Kong stock exchange

The Year of the Pig got off to a boisterous start at the Hong Kong stock exchange, as colourful lion dancers chased away evil spirits and the God of Wealth – wearing a pig mask – hopped about on the stage in rhythm with cheerful claps and banging drums and cymbals. “Such loud claps show everyone will be lucky and prosperous,” an entertainer told the cheerful crowd in Cantonese. The festivities on Friday marked the first day of trading in Hong Kong’s market in the Chinese New Year. The previous…

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Hong Kong bankers and brokers see their bonuses fall by a fifth after dismal year for stock markets

If Hong Kong’s bankers and stockbrokers were hoping to bring home some extra bacon as the Year of the Pig got under way, they may have been disappointed. According to industry experts, they received smaller bonuses than usual thanks to the dismal performance of the stock market in 2018. Chinese companies traditionally dish out their bonuses before or at the beginning of the Lunar New Year, which this year falls on February 5. The bonuses paid to many bankers heading into the Year of the Pig was down by about…

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‘Not impressive’: China’s ambitious stock market reform meets with lukewarm reaction

A major overhaul of China’s stock market designed to help it compete with the likes of New York and Hong Kong by attracting the world’s leading technology firms has received a lukewarm response from companies, banks, and investors. On Wednesday night, the country’s top securities watchdog, the China Securities Regulatory Commission, introduced a hotly anticipated new board for technology start-ups. The Shanghai Stock Exchange then issued a set of rules tailor-made for the so-called “technology and innovation board” for a period of public consultation. Many of them represent a big…

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It’s China! No, it’s Japan! In months-long battling, China regains its title as home to world’s second-largest stock market

The battling has been fierce, but China has pulled ahead of Japan enough to reclaim its title as home to the world’s second-largest stock market. Japan took the second spot about six months ago, as China’s markets were hit by the US trade war and a slowing domestic economy. On November 13, China edged just ahead, but they have been in a tug of war since. Now China could rightfully claim it’s out front. The combined market values of the companies on the Shanghai and Shenzhen exchanges totalled US$5.7 trillion…

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Developer Jiayuan surges by 21.9 per cent in Hong Kong after chairman clarifies how much stock is held as collateral

Mainland China-based small apartment developer Jiayuan International Group surged by 21.9 per cent in a few minutes after it resumed trading on Wednesday afternoon in Hong Kong, following a stock filing that clarified how much of its stock had been pledged as collateral for loans by its chairman. The stock was trading at HK$4.1 – up by 10.5 per cent – at 2.08pm. In the filing, Jiayuan said Chairman Shum Tin Ching had reported that he and an entity registered in the British Virgin Islands he controls together hold 52.86…

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