Home 

Hong Kong exchange marks a bumper day with six stock trading debuts as city tries to claw back global IPO crown from New York

Six companies debuted on the Hong Kong stock exchange on Tuesday, marking the busiest initial trading day for a bourse that is trying to claw back its global fundraising crown from New York city.The six initial public offerings (IPOs) raised a total of HK$4.4 billion (US$563.3 million) in Hong Kong, raising the city’s fundraising tally to almost HK$74 billion so far for the year, lagging behind the amount of capital raised on the Nasdaq and the New York Stock Exchange in the world’s top two… Source link

Read More
Home 

China’s technology board may unleash speculative frenzy as it starts trading in two weeks

China’s Nasdaq-styled board for home-grown technology companies risks turning into a hotbed for speculators when it kicks off trading in two weeks.While the companies seeking to list on the board have priced their initial public offerings much higher than the industry average, the speculative mood could still send the stocks surging on debut, investors including Hengsheng Asset Management and Xunfunds Investment Management said. It underscores a key risk facing Chinese policymakers, who are… Source link

Read More
Home 

Hong Kong’s dollar strengthens toward higher end of trading band against US dollar as interbank rate rises

Hong Kong’s borrowing costs are stuck near decade-highs, adding momentum to the local currency.The Hong Kong dollar traded in the stronger half of its band against the US dollar for the first time since September, rising as much as 0.18 per cent to 7.7995.While local interbank rates dipped Tuesday, the cost to borrow the currency remains higher than the income a trader can expect on US dollars. That’s killing the Hong Kong dollar carry trade by making money more expensive in the city.Rates are… Source link

Read More
Vietnam 

Covered warrants begin trading in HOSE – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The HCM Stock Exchange organised a ceremony in HCM City on June 28 to inaugurate the trading of covered warrants. — Photo courtesy of HOSE   HCM CITY — Trading in covered warrants began on the Hồ Chí Minh Stock Exchange yesterday. CWs are issued by securities enterprises, and their trading is similar to that of stocks. In the initial phase, the market will focus on call options and follow the European model. In the first session 10 warrant codes issued by seven…

Read More
Singapore 

Online article on digital currency trading passing off as ST report is fake, Digital, Singapore News

SINGAPORE – A fake news article on digital currency trading passing off as a report by The Straits Times has been making its round online. The page, which mirrors ST’s website, displays a story about local TV actor Shaun Chen ending his career to focus on trading in digital currencies. It includes ST’s logo and the section tabs found on the authentic website. Clicking on any of the tabs on the fake webpage leads the user to pages with various clickbait articles and advertisements. Facebook user Keith Lim alerted ST…

Read More
Vietnam 

VMAC builds strategy for debt trading – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The VAMC will build a legal framework for the establishment and operation of a bad debt trading platform in 2020-21. — VNA/VNS Photo Trần Việt HÀ NỘI — The Việt Nam Asset Management Company (VAMC) is planning to develop a new strategy for buying and selling bad debts in Việt Nam this year, in which it will play a central role to promote the development of the debt trading market. The company expected to submit the plan to authorities for approval and bring the market into operation next year, it said in the newly released…

Read More
Home 

Chinese terminal operator Rizhao Port Jurong’s shares skyrocket in Hong Kong trading debut after retail investors rejected them

Shares of Rizhao Port Jurong, a spin-off of one of China’s largest port operators, skyrocketed by 167 per cent on their Hong Kong trading debut on Wednesday – even after selling just a quarter of its retail shares.The stock soared by 267 per cent to HK$5.5 from its offer price of HK$1.5 at one point in the afternoon, before falling back to end the session at HK$4. The company raised a total of HK$546.7 million (US$69.8 million) of capital through the listing.The stunning debut performance is in… Source link

Read More
Home 

First tech company gets green light to price its IPO before trading debut of Shanghai’s new STAR Market, as analysts predict buying frenzy

The Shanghai Stock Exchange has given the green light for the first company to start book building ahead of its listing on the eagerly-awaited technology innovation board.It is likely to trigger a buying frenzy among investors keen to back promising young firms due to list on the new STAR Market, analysts said.Suzhou HYC Technology, a manufacturer of display and touch testing equipment, said on Wednesday morning that it would begin price consultation with institutions for its initial public… Source link

Read More
Home 

Shanghai exchange moves to curb speculation even before trading starts at Nasdaq-style tech board, introduces suspension rules

The Shanghai Stock Exchange introduced rules to limit speculation on the Star Market, its new technology innovation board, on Friday.Chinese regulators are prioritising stability for the trading debut of the Nasdaq-style market, which was launched on Thursday during the annual Lujiazui Forum. It is expected to start trading within two months, the exchange’s chairman, Huang Hongyuan, said.According to the new rules, shares on the Star Market will be allowed to trade freely for the first five… Source link

Read More
Vietnam 

Shares fall for third day of trading – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Vietjet Air (VJC) is among losing stocks on Thursday. — VNS Photo  HÀ NỘI — Vietnamese shares dropped for the third straight session on Thursday but the recovery of large-caps at the end of trading session helped narrow the market’s decline. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HOSE) fell 0.43 per cent to close at 950.08 points. The southern market index lost 0.82 per cent on Wednesday. More than 142.8 million shares were traded on the southern bourse, worth VNĐ3.3 trillion (US$141 million). Declining stocks outnumbered…

Read More