Asia

02 Apr China Construction Bank sees more policy support from Beijing, despite pressure on state-owned lenders to boost profit

Posted at 12:45h in Asia

China Construction Bank (CCB) expects Beijing to introduce more policy support to bolster the economy, even as the nation’s major state-owned lenders continue to face pressure to boost profits amid the prospect of benchmark rates decreasing further.“China’s economy is showing signs of recovery, but there...

02 Apr Chinese smartphone giant Xiaomi sees robust demand for first EV, even as buyers face delivery wait times of more than 5 months

Posted at 12:30h in Asia

Chinese smartphone giant Xiaomi is seeing continued strong demand for its first electric vehicle (EV) – the SU7, short for Speed Ultra 7 – even as potential buyers face delivery wait times of more than five months, the South China Morning Post has learned.Buyers of...

02 Apr Binance Hong Kong affiliate HKVAEX shuts down operations after withdrawing crypto licence application

Posted at 11:00h in Asia

The Binance-affiliated cryptocurrency exchange HKVAEX is shutting down its operations in Hong Kong after withdrawing its application for a licence in the city, ending a bid that lasted just three months.In the company’s official group chat on the messaging platform Telegram, HKVAEX head of operations...

02 Apr Debt funds dominate China’s first-quarter sales as monetary easing hopes trigger spectacular bond rally

Posted at 09:00h in Asia

Bond funds dominated new mutual-fund issuances in the first quarter in China, as policy loosening hopes drove investors to haven assets as the nascent recovery in stocks remains fragile after an unprecedented three years of losses.Fixed-income products made up three quarters of the 243.4 billion...

02 Apr Founder of Chimelong Group becomes first Asian winner of prestigious industry award

Posted at 08:42h in Asia

[The content of this article has been produced by our advertising partner.]In a historic first, one of mainland China’s leading entrepreneurs has received a highly prestigious industry award for notable accomplishments throughout his career.Su Zhigang, the founder and chairman of Chimelong Group, which currently operates...

02 Apr Ray Dalio says now is the time to buy ‘cheap’ Chinese stocks as Beijing works to revive the economy

Posted at 06:30h in Asia

Ray Dalio, the billionaire founder of world’s largest hedge fund, Bridgewater Associates, said now is the time to invest in beaten-down Chinese stocks as Beijing works to shore up the economy.“The time to buy is when everyone hates the market and it’s cheap, which is...

02 Apr China property: second-hand home prices slip again with Beijing, Shanghai among market casualties

Posted at 05:55h in Asia

China’s troubled property market is showing no sign of recovery after a two-year slump in home prices in major cities stretched into last quarter, suggesting buyers are waiting to see more cracks in the market while developers fend off one crisis after another. Beijing and...

02 Apr Hong Kong stock exchange’s ‘double-dip’ IPO reform gets few takers as investors shy away from listings

Posted at 03:28h in Asia

However, amid sluggish IPO activity, the take-up rate has been minimal so far.People pass under screens showing index and stock prices outside Exchange Square in Central, home of the city’s bourse operator Hong Kong Exchanges and Clearing, on February 15, 2024. Photo: Sun YeungIn the...

02 Apr Hong Kong stocks leap in catch-up trade after China’s manufacturing rebound; Xiaomi surges on strong EV orders

Posted at 02:43h in Asia

Hong Kong stocks jumped by the most in three weeks, with investor sentiment lifted by a manufacturing rebound in the world’s second biggest economy and as Chinese smartphone and gadget maker Xiaomi reported solid orders on its debut in the world’s biggest electric vehicles (EV)...

02 Apr Exclusive | UBS sees Asia as its future growth engine after Credit Suisse merger boosted its regional footprint, CEO says

Posted at 00:30h in Asia

As of the end of last year, UBS had attracted a net US$77 billion of new money globally since the two banks officially merged on June 12. That was much higher than the first five months of 2023, when Credit Suisse saw an outflow of...