Search

Copyright of TextilWirtschaft Online is the property of dfv Mediengruppe and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Hong Kong is positioning itself as a global wealth-management hub, offering tax breaks and incentives to attract family offices and investors. However, the city's track record shows that the middle class has been left behind due to tight regulations and a cautious government. Retail investors have faced restrictions on accessing certain investment products, leading to limited options for fixed-income investments. Additionally, property cooling measures have limited the middle class's ability to benefit from the real estate market. The government should focus on fostering a healthy asset-management industry that serves the local community in order to attract foreign portfolio money. [Extracted from the article]

Alibaba Group Holding Ltd. has approved a $25 billion stock repurchase program in an effort to address investor concerns about the company's growth. However, the announcement did not prevent a drop in Alibaba's shares, as investors remain worried about declining Chinese consumption and per-user spending. The company is facing increased competition from rivals such as PDD Holdings Inc. and ByteDance Ltd., and its recent financial results have been disappointing, with a lower-than-expected rise in revenue and a significant decrease in net income. Alibaba is also undergoing a complex restructuring process and is looking to sell off non-core assets. The company's executives have pledged to aggressively return money to shareholders through stock buybacks. Despite these challenges, Alibaba is focusing on its core e-commerce business and cloud computing operation, while also aiming to become a major player in artificial intelligence. The company is also looking to strengthen its presence in overseas markets and is investing in AI startups. [Extracted from the article]

Alibaba Group Holding Ltd. has approved a $25 billion stock repurchase program in an effort to address concerns about its slowing growth and competition from rivals like PDD Holdings Inc. However, investors remain worried about declining Chinese consumption and a drop in per-user spending due to a nationwide economic downturn. Alibaba is also undergoing a complex restructuring process to create independent businesses and is exploring the sale of non-core holdings. The company is focusing on its core e-commerce business and cloud computing operation while aiming to become a major player in artificial intelligence and the cloud. [Extracted from the article]

Chinese biopharmaceutical company WuXi XDC Cayman Inc. experienced a successful debut on the Hong Kong stock exchange, with its shares surging 31% after an initial public offering (IPO) priced at the top of the range. The company raised HK$3.68 billion ($471 million) from the share sale, with strong demand from both individual and institutional investors. WuXi XDC plans to use the funds to expand its production capacity in China and construct new facilities in Singapore. This successful IPO may help revive interest in Hong Kong's IPO market, which has been subdued due to high interest rates and China's economic challenges. [Extracted from the article]

Chinese biopharmaceutical company WuXi XDC Cayman Inc. will begin trading in Hong Kong after a successful initial public offering (IPO) that was priced at the top of the range. The company raised HK$3.68 billion ($471 million) from the share sale, with strong demand from both individual and institutional investors. The IPO is a rare case of strong demand in Hong Kong's subdued market for new share sales. WuXi XDC plans to use the funds raised to construct new facilities in Singapore and expand production capacity in China. [Extracted from the article]

UBS Group AG has joined other banks in allowing wealthy clients in Hong Kong to trade certain crypto-linked exchange-traded funds (ETFs). The move comes as Hong Kong aims to become a digital-asset hub. The three authorized crypto ETFs, including the Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures ETFs, will be available on UBS's Hong Kong platform. Hong Kong recently implemented a regulatory regime for digital assets, allowing retail investors to trade major tokens on licensed exchanges. The city's crypto ambitions have faced challenges, including the recent collapse of an unlicensed exchange and increased scrutiny from regulators. However, there are signs of growing engagement with the crypto economy, with other financial institutions planning to offer crypto services in Hong Kong. [Extracted from the article]

(Bloomberg) -- Cryptocurrency platform JPEX shut down some trading during an ongoing investigation by the Hong Kong police. JPEX is negotiating with third-party market makers to resolve a liquidity shortage, the statement said. [Extracted from the article]

"Potential investors are proceeding conservatively in setting up virtual-asset trading platforms in Hong Kong", said Vince Turcotte, director of digital assets at regulatory technology firm Eventus, which is working with some companies seeking licenses. (Bloomberg) -- Hong Kong kicked off a new crypto regulatory regime in a bid to nurture a digital-asset hub, a pivot that's stirred interest but has yet to win big investment pledges from an industry chastened by a market rout last year. [Extracted from the article]

Larger Tokens Individual investors can trade larger coins on exchanges licensed by the SFC under Hong Kong's new approach. (Bloomberg) -- Hong Kong said retail investors can trade crypto under its new rulebook for the sector, stepping up a drive to develop a digital-asset hub even as the industry and regulators clash elsewhere in Asia. [Extracted from the article]

(Bloomberg) -- Hong Kong is set to announce that retail investors can trade crypto under its new rulebook for the sector, stepping up a push to develop a hub even as digital-asset firms and regulators clash elsewhere in Asia. Hong Kong in February outlined in its consultation paper a plan to let individual investors trade larger coins on exchanges licensed by the SFC. [Extracted from the article]

Hong Kong in October laid out a vision of becoming a global crypto hub, seeking to lure investment and restore its status as a cutting-edge financial center. Hong Kong's Crypto Pivot Stirred an "Overwhelming" Response, One of Its Top Officials Says (Bloomberg) -- Hong Kong's policy shift toward creating a hub for virtual-asset businesses has generated an "overwhelming" response, the city's Secretary for Financial Services and the Treasury Christopher Hui said. [Extracted from the article]

"Over the past few months, a large number of innovative enterprises with potential have been considering setting up business in Hong Kong", Financial Secretary Paul Chan said in his 2023-2024 fiscal year budget speech. (Bloomberg) -- Hong Kong will set up a task force to provide recommendations on how it can achieve a recently adopted goal of becoming a crypto hub. [Extracted from the article]

The Beijing-based firm raised HK$6.7 billion ($861 million) after selling 1.15 billion new shares at HK$5.83 apiece, the lower end of a marketed range that went as high as HK$6.45. (Bloomberg) -- China's Sunshine Insurance Group Co. is set to debut in Hong Kong on Friday after Hong Kong's fourth-largest deal this year, potentially the last big listing in the Asian hub before the end of the year. [Extracted from the article]

(Bloomberg) -- The latest tumble in Hong Kong stocks puts at risk of losses the around $15 billion of complicated structured products linked to that market that have mostly been sold to retail investors in South Korea. As of September, 21.2 trillion won ($14.8 billion) of equities-linked securities products, or ELS, tied to the Hang Seng China Enterprises Index had yet to mature, according to the Korea Securities Depository. The most-sold ELS products linked with the key Hang Seng stock gauge were those with so-called knock-in levels of 50%, meaning that investors could face losses on their principal if there is a 50% or more decline from a specific index reference points. [Extracted from the article]

(Bloomberg) -- YH Entertainment Group, a Chinese artist management company most famous for its star Wang Yibo, is planning to start taking retail investor orders for its Hong Kong initial public offering as soon as Wednesday, according to people with knowledge of the matter. The Beijing-based company will start taking institutional investor orders on Thursday for the IPO, which could raise as much as HK$1.1 billion ($140 million), said the people, asking not to be identified as the information is private. [Extracted from the article]

PLDC is a separate company, responsible for "the main body of the construction and implementation of the PLCN submarine cable project, and its assets are only the PLCN submarine cable project under construction". The Dr Peng Telecom Media Group, listed on the Shanghai stock exchange, has announced the transfer of its stake in the Pacific Light Cable Network (PLCN - see map) to Meister United, registered in the British Virgin Islands. [Extracted from the article]

Under current rules, eligible Hong Kong banks to the program carry a SFC type 1 license to deal in securities and engage in retail banking or private banking business. (Bloomberg) -- Hong Kong regulators have opened the door for brokerages to participate in a wealth management link with the mainland, giving more competition to banks already in the program to vie for an estimated $500 million in annual fees. [Extracted from the article]

(Bloomberg) -- A consortium led by Macquarie Group Ltd. and KKR & Co. is in advanced talks to buy the U.K. electricity distribution business controlled by Hong Kong tycoon Victor Li, in what could be one of the sector's largest deals this year, people familiar with the matter said. Hong Kong Tycoon Victor Li Nears £15 Billion Sale of U.K. Power Assets to Private Investors CK Infrastructure, Power Assets and CK Asset said in a joint Hong Kong stock exchange filing Friday that unnamed parties have expressed an interest in buying part or all of their stakes in UK Power Networks. [Extracted from the article]

(Bloomberg) -- Hong Kong's government is delaying the launch of its inaugural retail green bond due to the spread of coronavirus cases in the city. In the sale, retail investors in Hong Kong will be able to buy green bonds for as little as HK$10,000. [Extracted from the article]

Keywords: ALLTOP; ASIA; ASIATOP; BUSINESS; CHINA; CONS; COS; FRX; HK; INDUSTRIES; MARKETS; RET; STK; STKTOP; TOP; WORLD EN ALLTOP ASIA ASIATOP BUSINESS CHINA CONS COS FRX HK INDUSTRIES MARKETS RET STK STKTOP TOP WORLD (Bloomberg) -- A choppy start to the new year for Chinese stocks is driving investors further away from equity mutual funds. ALLTOP, ASIA, ASIATOP, BUSINESS, CHINA, CONS, COS, FRX, HK, INDUSTRIES, MARKETS, RET, STK, STKTOP, TOP, WORLD. [Extracted from the article]

Tybourne is following Lansdowne Partners in withdrawing from short-selling activities, one of the hallmarks of hedge funds. (Bloomberg) -- Tybourne Capital Management is shutting its $2.8 billion hedge fund, retreating from bearish bets that have become increasingly difficult to make money from, said people with knowledge of the matter. [Extracted from the article]

The Chinese social media company sold 5.5 million new shares in the Hong Kong offering, while Sina sold 5.5 million existing shares. (Bloomberg) -- Weibo Corp. and its shareholder Sina Corp. priced shares in the Twitter-like website's Hong Kong second listing at HK$272.80 each, raising about HK$3 billion ($385 million) despite Beijing's latest market-dampening regulatory moves. [Extracted from the article]

(Bloomberg) -- Six months after Hong Kong's market regulators vowed to protect small investors by stamping out wild swings in stock debuts, the watchdogs are now moving in to ensure better transparency in initial public offerings. In its prospectus, Better Home Group said seven underwriting brokers, led by a local sponsoring firm Giraffe Capital Ltd. and Chinese giant Guotai Junan Securities Co., would receive a 10% commission, totaling around HK$40.7 million, or 27% of the maximum planned gross proceeds. [Extracted from the article]

(Bloomberg) -- Lingerie and swimwear maker Hop Lun (Hong Kong) Ltd. is reviving a sale that was previously stalled due to the pandemic, people with knowledge of the matter said. The Hong Kong-based company is seeking financial investors such as private equity firms in the renewed sale process, said the people, who asked not to be identified as the information is private. [Extracted from the article]

Keywords: 127@HK; 3333@HK; ALLTOP; ASIA; BON; BUSINESS; CHINA; CONS; COS; FIN; FRX; GLOBALMACR; GOV; HK; INDUSTRIES; MARKETS; MED; REL; RET; TMT; TOP; WORLD; WWTOP EN 127@HK 3333@HK ALLTOP ASIA BON BUSINESS CHINA CONS COS FIN FRX GLOBALMACR GOV HK INDUSTRIES MARKETS MED REL RET TMT TOP WORLD WWTOP Financial regulators in Beijing issued a broad set of instructions to China Evergrande Group, encouraging the embattled developer to take all measures possible to avoid a near-term default on dollar bonds while focusing on completing unfinished properties and repaying individual investors. The company's 8.25% dollar note due 2022 climbed 6.7 cents on the dollar to 31.9 cents as of 7:09 p.m. local time, hitting session highs after Bloomberg reported regulators' instructions to Evergrande. [Extracted from the article]

QZVJYRT0AFB5 (Bloomberg) -- The lack of any announcement from China Evergrande Group concerning an $83.5 million interest payment that was due Thursday on a dollar bond adds to the uncertainty surrounding the developer's struggles. Keywords: 2799@HK; 3333@HK; ALLTOP; ASIA; ASIATOP; BON; BONTOP; BUSINESS; CHINA; COLUMNS; COS; FIN; HK; INDUSTRIES; MARKETS; MKTTOP; REL; STK; TOP; WORLD; WWTOP; WWTOPAS EN 2799@HK 3333@HK ALLTOP ASIA ASIATOP BON BONTOP BUSINESS CHINA COLUMNS COS FIN HK INDUSTRIES MARKETS MKTTOP REL STK TOP WORLD WWTOP WWTOPAS The lack of any announcement from China Evergrande Group concerning an $83.5 million interest payment that was due Thursday on a dollar bond adds to the uncertainty surrounding the developer's struggles. [Extracted from the article]

(Bloomberg) -- Hong Kong could have a hard time attracting blank check companies after it proposed a high threshold to list in the city. In a consultation paper released on Friday, Hong Kong Exchanges & Clearing Ltd. proposed that special purpose acquisition companies would need to raise at least HK$1 billion ($128 million) when listing and that retail investors would be barred from participating. [Extracted from the article]

"We are always looking for ways to enhance our listing framework, striking the right balance between delivering appropriate investor protections, market quality and market attractiveness", a spokesperson for Hong Kong Exchanges & Clearing Ltd., said in an email. (Bloomberg) -- Hong Kong plans to curb access for retail investors to buy and trade blank check companies as regulators in the city prepare to roll out a framework this month. [Extracted from the article]

"We are always looking for ways to enhance our listing framework, striking the right balance between delivering appropriate investor protections, market quality and market attractiveness", a spokesperson for Hong Kong Exchanges & Clearing Ltd., said in an email. (Bloomberg) -- Hong Kong plans to curb access for retail investors to buy and trade blank check companies as regulators in the city prepare to roll out a framework this month. [Extracted from the article]

Keywords: 1735915DCN; 3333@HK; 600340@CH; ALLTOP; ASIA; ASIATOP; BNK; BON; BONTOP; BUSINESS; CHINA; COS; FIN; GLOBALMACR; HK; INDUSTRIES; MARKETS; MKTTOP; REL; RELTOP; STK; TOP; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN 1735915DCN 3333@HK 600340@CH ALLTOP ASIA ASIATOP BNK BON BONTOP BUSINESS CHINA COS FIN GLOBALMACR HK INDUSTRIES MARKETS MKTTOP REL RELTOP STK TOP WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU At least two of China Evergrande Group's largest non-bank creditors have demanded immediate repayment of some loans, according to people familiar with the matter, adding to liquidity strains at the world's most indebted developer. Trust loans often include terms that allow creditors to demand early repayment if certain conditions are met, such as sales targets, ratings downgrades or lawsuits. [Extracted from the article]

Xpeng is marketing 85 million shares in the Hong Kongoffering and has set a maximum price of HK$180 for theportion reserved for retail investors. (Bloomberg) -- Electric-vehicle maker XPeng Inc. ispoised to raise about HK$14 billion ($1.8 billion) in itsHong Kong listing, people with knowledge of the mattersaid, putting it on track to be the first Chinese EVproducer to finish a so-called homecoming share sale. Xpeng is the latest to join a slew of U.S.-traded Chinesefirms selling shares in Hong Kong, giving them a hedgeagainst the risk of being kicked off American exchangeswhile broadening their investor base closer to home. [Extracted from the article]