News Analysis Chinese A-share companies have started listing in Switzerland, while the Hong Kong Stock Exchange (HKEX) saw a record low funding in IPOs. Hong Kong’s Weak IPO Market According to its latest interim results (pdf), in the first half of 2022, the HKEX saw a 27 percent drop in profit and an 18 percent…
Chinese Companies Turn to Switzerland for Fundraising as Hong Kong’s IPO Market Deteriorates
August 23, 2022
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Business & MarketsChinaChina Business & EconomyChinese A-share companiesHK BusinessHKEXHong KongMarketsSIX Swiss Exchange.`SwitzerlandU.S. Treasuries
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Chinese Property Developer Faces Debt Default Amid ‘Unprecedented Liquidity Pressure’
Evergrande’s debt default last year, kicked off China’s housing market slump that just continues to worsen as widespread COVID-19 curbs weaken buyer confidence and market demand. With tumbling sales, short-term debts, and a lack of offshore refinancing, Chinese property developers are facing a liquidity crisis. Skyfame Realty, a private Chinese real estate developer, had all…
Deloitte: Hong Kong Exchange Ranked 9th in Global IPO’s in First Half of Year
Deloitte said at a press conference on June 22, that the Hong Kong Exchanges (HKEX) ranked ninth in the world in terms of Initial Public Offering (IPO) capital raised in the first half of this year. The number of IPOs in Hong Kong in the first half of this year fell 48 percent to 24,…
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…
Slow Start Continues as Hong Kong IPOs Saw the Lowest Fundraising in 12 Years
Hong Kong’s initial public offering (IPO) market saw the lowest fundraising rate in 12 years, with IPO proceeds in May slumping to less than $140 million, and totaling a record low of $2.21 billion for the first five months of 2022. Amid the market’s grim outlook, the Hong Kong Exchanges and Clearing (HKEX) plans to…
Hong Kong, US to End Mutual Accounting Recognition Agreement, Signaling Further US-China Decoupling
The Hong Kong Institute of Certified Public Accountants (HKICPA) failed to renew an 11-year mutual recognition agreement (MRA) with the U.S. International Qualifications Appraisal Board (IQAB) over failure to waive the requirement for one-year of local experience. Announcement of the MRA non-renewal happened amid deteriorating China-U.S. relations, particularly after the recent U.S.-ASEAN Special Summit. The outcome…
Hong Kong Saw Worst First-Quarter IPO Performance in Nearly A Decade, Falls From Top Five Global Ranking
The Hong Kong Stock Exchange (HKEX) saw its worst performance quarter in IPO fundraising since 2013, pushing the city out of the top five in the global IPO ranking. Analysts believe it is investor lack of confidence in Hong Kong’s capital market that led to the poor performance. Initial public offering (IPO) is the core…
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