As coronavirus outbreak, containment measures weigh on sector, Hong Kong home prices record biggest drop in 15 months

https://ift.tt/eA8V8J Hong Kong home prices recorded their steepest drop in 15 months in February, and are expected to decline by up to 20 per cent from a peak in June 2019 by year-end amid the coronavirus pandemic.An index of used home prices dropped 2.1 per cent last month, according to the city’s Rating and Valuation […]

Battered Hang Seng Index trading below book value for third time in 27 years may signal massive rally in Hong Kong stocks

https://ift.tt/eA8V8J Hong Kong’s stocks are so beaten down that the Hang Seng Index is now trading below its net asset value for only the third time in almost 30 years.The 50-member benchmark was valued as low as 0.92 times the book value in March, meaning the stock prices were below the stated values of the […]

Developers Country Garden, Sunac China warn construction, sales may be disrupted as Covid-19 subdues business activity

https://ift.tt/eA8V8J Two of China’s biggest property developers have warned that their sales and construction schedules are likely to be disrupted by a downturn in demand caused by the Covid-19 outbreak.Country Garden Holdings, the largest seller of homes in China, said its building and sales progress may be exposed to short-term volatility as business activities remain […]

World’s costliest offices are poised to enter tenants’ market as Hong Kong businesses reel from coronavirus, protest movement

https://ift.tt/eA8V8J Hong Kong’s notoriously pricey office rental sector is fast becoming a tenants’ market as last year’s protest movement and the current coronavirus pandemic have prompted struggling companies to bail on their leases.A huge increase in firms, from co-working space providers to finance companies and retailers, abandoning their offices before the contracts expire has helped […]

Oil titan PetroChina’s production plan and budget hang in the balance as coronavirus, oil price war cloud economic outlook

https://ift.tt/eA8V8J PetroChina, the nation’s largest oil and gas producer, has deviated from its long-standing practice of unveiling clear production targets when it announces its annual results, as the coronavirus pandemic and an oil price war clouds the global economic outlook.“The oil price’s free-fall since last month has dealt the heaviest blow to our upstream production […]

Mainland developers including Poly Property, China Resources accelerate sales to shore up cash flow to minimise impact of Covid-19

https://ift.tt/eA8V8J Some of China’s biggest developers are set to accelerate sales and shorten their construction cycles to shore up cash flow in response to the economic fallout from the Covid-19 outbreak.Four mainland Chinese builders reported higher profit growth for 2019 on Thursday, but said they are braced for hard times ahead as the deadly epidemic […]

Race for safety in Chinese utilities stocks may bode ill for wider market, history suggests

https://ift.tt/eA8V8J Chinese traders are turning more defensive in the world’s only major stock market that has not slipped into bear territory: snapping up domestic utilities companies.But if history is any guide, this rush for shelter in power companies – seen as a safe bet with their high dividends and stable cash flows – may bode […]

HSBC cancels “Informal Meeting of HK shareholders” webcast due to COVID

Apparently this hi-tech bank doesn’t know how to do a multi-way video webcast that would bring the Chairman and senior management together in a virtual room. Have they not heard of Zoom or Google Hangouts, amongst others? Source: Company announcement | Source date: 25-Mar-2020 18:00 Vía Webb-site.com latest news https://ift.tt/2y87wni

Eugene Yeoh Kim Loong, ex-HKEX, and Richard Lum Chor Wah, charged with bribery and MIPO over IPO applications

One IPO is named: Shen You (8377). That was sponsored by Huabang Corporate Finance Ltd. Who knew? Regarding Mr Lum, he’s been a director of 12 HK-listed companies at various times since 1991. Our data show that on average, shares of those companies during his tenure under-performed the market by 52.5% per year. He resigned […]

Eugene Yeoh Kim Loong, ex-HKEX, and Richard Lum Chor Wah, charged with bribery and MIPO over IPO applications

One IPO is named: Shen You (8377). That was sponsored by Huabang Corporate Finance Ltd. Who knew? Regarding Mr Lum, he’s been a director of 12 HK-listed companies at various times since 1991. Our data show that on average, shares of those companies during his tenure under-performed the market by 52.5% per year. He resigned […]

Eugene Yeoh Kim Loong, ex-HKEX, and Richard Lum Chor Wah, charged with bribery and MIPO over IPO applications

One IPO is named: Shen You (8377). That was sponsored by Huabang Corporate Finance Ltd. Who knew? Regarding Mr Lum, he’s been a director of 12 HK-listed companies at various times since 1991, and our data shows that on average, stocks of those companies during his tenure under-performed the market by 52.5% per year. Source: […]

Hong Kong stocks are at their cheapest relative to mainland Chinese equities in two years as Citic Securities predicts 20 per cent gain

https://ift.tt/eA8V8J The global coronavirus pandemic has sent Hong Kong stocks to their cheapest level relative to Chinese equities in two years, a price gap that Citic Securities says may spur a 20 per cent gain in the city’s shares.A gauge tracking the price discrepancy between the two markets showed that Chinese companies trading in Hong […]

Hongkongers relish picking up overseas properties on the cheap as currencies slump amid market stampede

https://ift.tt/eA8V8J Hongkongers are relishing the prospect of picking up global properties on the cheap, as a global market stampede crushed major currencies and emergency rate cuts flattened borrowing costs.The Hong Kong currency is trading at the stronger end of its band through the market carnage, courtesy of its decades-old peg to the US dollar. It […]

US plant-based meat start-up Nature’s Fynd, backed by Jack Ma, Bill Gates, gets new funding from Al Gore as it targets Chinese market

https://ift.tt/eA8V8J Plant-based meat maker Nature’s Fynd said it has recently secured US$80 million of funding from investors including former US vice-president Al Gore, as the four-year old food tech start-up begins production in Chicago and prepares to expand into Asia.The latest equity funding round comes after African swine fever and the more recent coronavirus have […]

Henderson Land, Hong Kong’s third biggest developer, sees challenging year ahead as 2019 profit slumps 26 per cent

https://ift.tt/eA8V8J Henderson Land Development, the third largest developer in Hong Kong, sees a “challenging” year ahead after posting a 26 per cent drop in core profit for 2019.Chairmen Peter Lee Ka Kit and Martin Lee Ka-shing on Monday reported the company’s first set of annual results since taking over last year from their father, Lee […]

Mainland Chinese macro fund that has made 31 per cent this year is hoarding cash

https://ift.tt/eA8V8J The slump in Chinese equities is no buying opportunity for one of the country’s top performing fund managers.“If you buy risk assets now amid this huge market volatility, you’ll easily end up getting buried,” said Lu Jun, founder of private fund Shanghai Congrong Investment Management, which manages US$1.1 billion in assets.Lu, a macro fund […]

Asia markets plunge on growing fears of global recession amid explosive spread of Covid-19

https://ift.tt/eA8V8J Asia-Pacific markets plunged in early trading Monday, with US futures falling on concerns that a deep global recession is building as the worldwide coronavirus death toll rises and the US Congress is at odds over a proposed US$1.5 trillion stimulus package.Oil prices continued falling on expectations the virus will lead to a huge drop […]

Asia markets plunge on growing fears of global recession amid explosive spread of Covid-19

https://ift.tt/eA8V8J Asia-Pacific markets plunged in early trading on Monday, with US futures falling on concerns that a deep global recession is building as the worldwide coronavirus death toll rises and the US Congress is at odds over a proposed US$1.5 trillion stimulus package.Oil prices continued falling on expectations the virus will lead to a huge […]

No respite for Asia-Pacific markets as investors recoil in horror at the explosive spread of Covid-19

https://ift.tt/eA8V8J Asia-Pacific markets plunged in early trading on Monday, with US futures falling on concerns a deep global recession is building as the worldwide coronavirus death toll rises and the US Congress is at odds over a proposed US$1.5 trillion stimulus package.Oil prices continued falling on expectations the virus will lead to a huge drop […]

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Animation: new year, 2020, rat, chinese new year, cny, hong kong, lunar new year, cny2020, happy chinese new year, year of the rat, lny, hkairlines, hong kong airlines, wherehkbegins, where hong kong begins, home kong, year of rat, lny2020, kung hei fat choy

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