Asia

20 Mar Tech war: US said to weigh sanctions against Huawei’s secretive Chinese semiconductor supply network

Posted at 09:05h in Asia

No final decisions have been made, the people said. Bloomberg News first reported about SIA’s presentation in 2023. 27:21Biden’s China tech policy goal: a 10 year handicapBiden’s China tech policy goal: a 10 year handicapSuch a move by the US government would mark another escalation in...

20 Mar Prudential is back in black with US$1.71 billion profit in 2023 as return of mainland China visitors to Hong Kong drives new sales

Posted at 04:53h in Asia

UK insurer Prudential reported a strong set of operating results for 2023 as the return of mainland Chinese visitors to Hong Kong boosted life insurance policy sales after the city eased the curbs imposed at the time of the Covid-19 outbreak.Net profit, which Prudential calls...

20 Mar Hong Kong stocks post early gains after upbeat corporate earnings but caution prevails as investors eye monetary policy

Posted at 03:05h in Asia

Hong Kong stocks edged higher after corporate earnings fuelled gains in sportswear company Li Ning and telecoms giant China Unicom, although the mood was cautious after China’s central bank kept its benchmark lending rates unchanged.The Hang Seng Index added 0.3 per cent to 16,577.37 as...

20 Mar Chinese payment provider LianLian DigiTech files US$78 million Hong Kong IPO, less than a fifth of its target a year ago

Posted at 02:31h in Asia

LianLian DigiTech is seeking HK$612 million (US$78 million) in an initial public offering (IPO) in Hong Kong this week, a fraction of the US$500 million it had originally sought to raise in June 2023 as market conditions continue to dampen investor sentiment.The Hangzhou-based company is...

20 Mar China Vanke secures US$194 million loan from Industrial Bank in brief respite for troubled property developer

Posted at 02:03h in Asia

Heavily indebted China Vanke, one of China’s largest developers, said it has secured a long-term loan from a Chinese commercial bank, providing it some relief following its credit rating downgrade a week ago by Moody’s to junk status.The Shenzhen-based developer said in a statement filed...

20 Mar Hong Kong, mainland China office-leasing outlook bleak even as mood brightens across Asia-Pacific: CBRE

Posted at 00:30h in Asia

The commercial property leasing market across most Asia-Pacific markets is improving, except in Hong Kong and mainland China where sentiment is particularly downbeat, according to CBRE.While respondents in South Korea and Japan were the most positive at just under 40 per cent, the sentiment was...

19 Mar China’s recalibration of energy efficiency target could increase emissions, put climate goal at risk, analysts say

Posted at 23:30h in Asia

China’s decarbonisation goals set for 2025 are in danger of veering off track after policymakers redefined a key energy target that could drive emissions higher, climate experts warn.Unless the country exceeds its energy target set for 2024, China would need to make unprecedented progress next...

19 Mar A CBDC trial in Hong Kong could finally enable blockchain to digitise shipping, with help from Ant Group

Posted at 23:00h in Asia

“I think right now in the world, there’s probably only two locations where the regulators somewhat have a plan or vision of how to do this right,” Chen said. “And I think it’s Hong Kong and Dubai.”Maersk’s exit from blockchain-based logistics leaves the field open...

19 Mar Xpeng founder He Xiaopeng bullish after Chinese EV maker reports higher quarterly revenue, narrower loss in line with forecast

Posted at 13:15h in Asia

“Since the first quarter of this year, there has been an industry-wide price war, which has been growing increasingly fierce,” He Xiaopeng, chairman and CEO, said during a company conference call on Tuesday. “Several EV start-ups have been forced to wind down their operations and...

19 Mar Alibaba brings 5-day delivery on AliExpress to US via Cainiao in battle against Shein, Temu

Posted at 13:00h in Asia

Alibaba Group Holding has expanded its “five-day delivery” service to the US, as the Chinese e-commerce giant faces intensified competition against Temu and Shein in the world’s largest economy.Customers who place an order in the US on AliExpress, Alibaba’s international e-commerce platform, can now expect...