Commentary Over the 25 years after the handover of Hong Kong’s sovereignty, Hong Kong has undergone tremendous changes in all segments of society. One most notable change during the past 25 years is the “Hang Seng Index (HSI),” which used to reflect the health of the Hong Kong stock market. It is now being dominated…
Hang Seng Index is Increasingly Flooded with Mainland Stocks
June 21, 2022
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Hong Kong’s Iconic Jumbo Floating Restaurant Capsizes at Sea
HONG KONG—Hong Kong’s iconic Jumbo Floating Restaurant has capsized in the South China Sea less than a week after it was towed away from the city, its parent company said Monday. The restaurant encountered “adverse conditions” on Saturday as it was passing the Xisha Islands, also known as the Paracel Islands, in the South China…
DOJ’s Husband Poon Lok-to’s Company Prosecuted by Competition Tribunal for Alleged Price-fixing with Shun Hing Group
Department of Justice (DOJ) Teresa Cheng’s husband, Otto Poon Lok-to’s company has recently been charged by the Competition Commission Hong Kong. Poon’s company: ATAL Building Services Engineering Limited has been accused of colluding with Shun Hing Engineering Contracting Company Limited for price-fixing, market-sharing and/or bid rigging while bidding for air-conditioning projects in Hong Kong. The…
Implication From China’s Four Scissors
Commentary China released a series of May economic data; all are better than expected and some show improvement from the previous month. But a month’s change right after massive lockdown is certainly not confirming a change of downtrend (to flat or up). Whether there will be a structural change is hard to judge simply from…
Hong Kong IPO Volumes Tumbled 92 Percent, PwC Cuts HK IPO Forecast by Half
PricewaterhjouseCoopers (PwC) noted Hong Kong’s IPO fund raising activities slowed down in the first half of this year. The total fund-raising amount reached HK$ 17.1 billion (about $2.2 billion) and is expected to contract by 92 percent year on year. Due to factors that contribute to increasing uncertainty, including the continued outbreak of COVID, geopolitical…
London Metal Exchange Faces Complaint from US Hedge Fund Group Over Cancelled Nickel Trades
June 15, 2022
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Business & MarketsChinacommoditiesCompaniesdemon nickelhedge fundHK BusinessHKEXHong KongInvestmentLMELondon Metal Exchange (LME)MarketsNickelTsingshan HoldingUKUSUS NewsWorld
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New Analysis On June 1, U.S. hedge fund Elliot Management filed a suit against LME in the English High Court for $456 million over its controversial decision to suspend nickel futures contracts and cancel trades in early March. A few days later, on June 6, trading house Jane Street also filed its case against the exchange…
Survey Finds 83% Hong Kong Employers Think It Difficult to Fill Vacancies
A survey by a human resources agency found that Hong Kong employers are cautiously optimistic about their intention to recruit in the coming quarter. According to seasonally adjusted data, the net employment outlook index for the coming quarter is positive 11 percent; 83 percent of the local employers surveyed think it will be difficult to…
Victim of Pandemic, Hong Kong Floating Restaurant Towed Away
The massive floating restaurant designed like a Chinese imperial palace on Aberdeen Harbor was known for its Cantonese cuisine and seafood dishes. It received over 30 million guests since its establishment in 1976. But Jumbo Floating Restaurant was forced to close in 2020 due to the pandemic, and all staff were laid off. Parent company…
Tesla Cancels Three Online Hiring Events in China: Can CCP Revive Confidence Among Foreign Companies?
June 14, 2022
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On June 9, 2022, Tesla Inc. (TSLA) canceled three live job hiring events for China, which were originally scheduled for this month, after the Shanghai government had already held two video roundtable talks for foreign companies in Early June; the second of which included executives from six foreign auto enterprises, including Tesla. Telsa did not…
Chinese Enterprises and Tycoons are in a Money Transfer Frenzy, Singapore the Top Choice
June 11, 2022
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A Chinese Tycoon from Fujian Province recently bought 20 units at Canninghill Piers, a luxury condominium development in Singapore. More and more Chinese tycoons are worried about leaving a large proportion of their money in mainland China and are transferring their assets abroad. Within this asset transfer fever, Singapore has become the number one safe…
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