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Search resuls for: "KPMG China"


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Hong Kong Street Scene, Mongkok District with busses Nikada | E+ | Getty ImagesHong Kong's initial public listing market remains in a slump, even as analysts predicted a market rebound in the second half of the year. "The Hong Kong market has not recovered as much as we would like," Irene Chu, partner at KPMG China, told CNBC. In the first three quarters of the year, the Hong Kong IPO market concluded 44 listings, and raised 24.6 billion Hong Kong dollars ($3.14 billion), according to KPMG. Hong Kong's stock market was among the worst performing last year, shedding 15% in 2022 for its third-straight year of declines. "The Hong Kong stock market remained weak in Q3 2023, as did stock valuations, because of macroeconomic developments, in particular around U.S. interest rate hikes.
Persons: Irene Chu, Hong, Ringo Choi, EY, Zhejiang Leapmotor, Arun George, It's, Chu Organizations: Hong, KPMG China, CNBC, Hong Kong, KPMG, Hang Seng, J, T Express, Reuters, Deloitte, Hong Kong's, ZJLD, Onewo, Global Equity Research, International Monetary Fund Locations: Hong, Mongkok District, Hong Kong, Ringo Choi Asia, Pacific, Asia, Indonesian, Zhejiang, China, Shanghai, Shenzhen, KPMG China,
The logistics service provider traded at 11.84 Hong Kong dollars ($1.51) on Friday morning, after opening at HK$12. The HK$3.92 billion ($500 million) IPO is the second largest listing in Hong Kong this year, after premium Chinese liquor company ZJLD Group . J&T Express is listing in an uncertain economic environment, characterized by hiking inflation, high interest rates and ongoing conflict such as the Israel-Hamas war and Ukraine invasion. Hong Kong's global IPO ranking dropped to eighth following a historically slow third quarter," said KPMG in a report published on Oct. 9. "The IPO pricing is dropping significantly by more than 50% or even 70%."
Persons: Irene Chu, Ringo Choi Organizations: T Express, Hong, HK, ZJLD Group, KKR, SF Express, Temasek, T, KPMG, KPMG China, CNBC, Reuters . Companies Locations: Hong Kong, U.S, Sequoia, Israel, Ukraine, Asia, Pacific
HONG KONG, Feb 21 (Reuters) - Hong Kong is under pressure to rein in spending when it unveils its annual budget on Wednesday, after racking up huge fiscal deficits during the COVID-19 pandemic and as it struggles to kick-start the economy and regain its financial lustre. "However, as our economy stabilises, we have to make adjustments to our fiscal measures accordingly." That compares with a shortfall of HK$56.3 billion or 1.9% of GDP, projected by the government in its budget last year. Hong Kong hewed closely to China's zero-COVID policies -- imposing some of the world's toughest measures including lengthy quarantines for inbound travellers and social distancing rules that hurt the tourism, retail and catering sectors. ($1 = 7.8306 Hong Kong dollars)Reporting by Jessie Pang and Donny Kwok; Writing by James Pomfret; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.
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