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Hong Kong to lag behind NYSE, Nasdaq in 2019 as extradition bill, trade war weigh on listings, says Deloitte

Hong Kong’s stock market is expected to rank third, and Shanghai fourth, in global IPO market rankings for the first half this year, according to latest analysis by Deloitte China’s National Public Offering Group. Both markets have been hit hard by macroeconomic turbulence caused by the US-China trade war as well as political uncertainties.The New York Stock Exchange and Nasdaq are expected to occupy the top two places with mega IPOs in the period under review, Deloitte said on Wednesday.Based… Source link

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Rising uncertainty over trade war could weigh on bottom lines at Hong Kong’s banks, KPMG says

Rising interest rates helped boost Hong Kong banks as the city’s economy slowed last year, but heightened uncertainty from an escalating trade war between the United States and China could weigh on their performance in 2019, according to KPMG.Operating profit before impairments at the city’s licensed banks rose 15 per cent to HK$268 billion (US$34 billion) last year, from HK$234 billion in 2017, the accounting giant said. Total revenue at Hong Kong’s lenders increased 11.2 per cent to HK$445… Source link

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US consumers set to bear burden of Trump’s tariffs as American retailers such as Wal-Mart, Target and Best Buy weigh price hikes

American retailers are increasingly warning consumers to brace for higher prices as the United States prepares to put tariffs on nearly all goods made in China, in the latest escalation in the trade war between the world’s two largest economies.Over the past three weeks, some of the biggest sellers of everything from apparel to electronics in the US have expressed concern over how higher duties will affect their bottom lines and said they are preparing to pass along the increased cost to their… Source link

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Ecommerce 

Alibaba is said to weigh raising US$20 billion in Hong Kong second listing

Alibaba Group Holding is considering raising US$20 billion via a second listing in Hong Kong after a record-breaking 2014 New York market debut, according to people with knowledge of the matter, a mega-deal that will bring China’s largest company closer to investors in its home country.The e-commerce giant is working with financial advisers on the planned offering, the people said, asking not to be identified because the information is private. Alibaba is aiming to file a listing application in… Source link

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Investment 

Standard Chartered first quarter profit up 2 per cent as weak markets, lower wealth management activity weigh

Standard Chartered said on Tuesday that its profit rose 2 per cent in the first quarter, as a weak market environment and lower wealth management activity weighed on its results and trading revenue at its closest banking rivals.The bank, one of three lenders authorised to issue Hong Kong’s currency notes, reported a profit of US$818 million in the first quarter, compared with US$803 million in the same period a year ago.In the quarter, Standard Chartered took a previously announced charge of US… Source link

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China’s stock benchmark drops from one-year high as carmakers weigh on sentiment

China’s stocks fell from a one-year high, as carmakers ran out of gas following a rally spurred by speculation about government stimulus to bolster car salses.The Shanghai Composite Index dropped 0.4 per cent, or 12.92 points, to 3,250.20 at the close on Thursday after rising to the highest level since March 2018 a day earlier. A gauge tracking auto stocks slumped 1.9 per cent after surging 7 per cent over the past two days, according to data provider Shanghai DZH. Hong Kong’s Hang Seng Index… Source link

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Stocks Blog: China's stocks face headwinds as traders weigh where to place their bets

Got a bit of jitters? If so, you aren’t alone among traders in mainland and Hong Kong markets, where bears came out swinging Monday, sending the Shanghai benchmark down for the third consecutive trading day and the Hang Seng to its lowest level in nearly two weeks. Check in with us throughout the day to catch up on the latest action. We also feature our “Crystal Ball,” in which leading experts offer you their insights on where they think sectors and companies are going.  Your market guides… Source link

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Stocks blog: Global growth worries weigh on sentiment

Good morning traders. Global growth concerns are weighing on market sentiment. In addition, investors are hungry to see a substantive US-China trade deal.  We’ll get data on new yuan loans for March in China. Your market guides today will be Louise Moon and Deb Price in Hong Kong. We’ll be helped out by the rest of the markets team as well as other reporters on our Business desk. Please send questions you’d like answered to deb.price@scmp.com . — Louise and Deb   Source link

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China 

Trade war, intense overseas scrutiny will weigh down China’s M&A activity in 2019, PwC analysts say

The trade war with the US and heightened scrutiny of Chinese dealmaking overseas could weigh heavily on China’s mergers and acquisitions in the year ahead, according to global accounting firm PwC.The prospect of the current trade negotiations between the world’s two largest economies ending in stalemate is potentially a “strong blow” that would crimp cross-border deals, said senior analysts at the company on Tuesday.Even if a satisfactory resolution were reached, the level of political scrutiny… Source link

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US-China trade war, slowing global growth weigh on Hong Kong business confidence in first quarter

Business sentiment among small and medium-sized business owners in Hong Kong fell to its lowest level in nearly three years, fuelled by concerns over slowing global growth and lingering trade tensions between the US and China, according to a new survey. Confidence among employers for the first quarter dropped 2.6 points to 40.4 on a quarter-on-quarter basis in the Standard Chartered Hong Kong SME Leading Business Index. That matched a low set in the second quarter of 2016 and was the second quarterly decline in a row. Despite recent optimism…

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