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Search resuls for: "STAR Market"


8 mentions found


☆ A bad market omen: Apple and Tesla denting market sentiment to start the year
  + stars: | 2023-01-04 | by ( Patti Domm | In | ) www.cnbc.com   time to read: +3 min
It was a sloppy start to the year for stocks, and the steep decline in two market darlings — Apple and Tesla — is not a good omen for the market in 2023. The S & P 500 was down as much as 1.2% on Tuesday and dipped below the key 3,800 level. "I think Apple has a major influence on market sentiment. Though, she added that Tesla is much less of an impact on overall market action than Apple because of the tech giant's huge market cap. Stockton also said the S & P 500 could break down several hundred points below that and reach 3,200.
☆ China funds with energy bets stand out in a bleak year
  + stars: | 2022-12-30 | by ( ) www.reuters.com   time to read: +3 min
SHANGHAI, Dec 30 (Reuters) - Chinese fund managers who made big bets on energy companies are celebrating a year that was brutal for many of their peers. Huang Hai, who manages three funds for Wanjia Asset Management, far outperformed the market by wagering on energy stocks such as CNOOC , China Shenhua Energy (601088.SS) and Shaanxi Coal (601225.SS). Energy companies including Shaanxi Coal, Shanxi Lu'an Environmental Energy (601699.SS), Guanghui Energy (600256.SS) and Shenhua Energy are among her fund's top 10 holdings. A Chinese index fund that tracks the Dow Jones U.S. The Lion Oil and Gas Energy Equity Fund, which invests in global energy funds under China's outbound QDII scheme, delivered a return of 53% for domestic investors.
☆ China's re-opening to lift Asia equity capital market volumes from 3-year lows
  + stars: | 2022-12-16 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com   time to read: +4 min
SYDNEY, Dec 16 (Reuters) - Asian equity capital markets activity, languishing at three-year lows now, is set to get a much needed boost in 2023 from China's expected re-opening to the rest of the world after a spate of COVID-19 lockdowns, dealmakers said. "As China's re-opening happens, market activity will come in stages," said Edward Byun, Goldman Sachs' co-head of equity capital markets in Asia ex-Japan, adding that secondary market trading and follow-on capital raisings would benefit first. IPOs in Asia Pacific, including Japan, fell by 43.3% this year in value terms, while total equity capital market deals plunged 52%, according to Refinitiv data. New share sales in Hong Kong plunged 74% to $7.4 billion this year from $28.17 billion in 2021, Refinitiv data showed. In India, IPOs were down nearly 60% to $7.13 billion from $17.05 billion, the Refinitiv data showed.
☆ Albertsons, Kroger CEOs defend $25 bln merger to U.S. Senate committee
  + stars: | 2022-11-30 | by ( Diane Bartz | Thomson Reuters | Focused On U.S. Antitrust As Well As Corporate Regulation | ) www.reuters.com   time to read: +4 min
WASHINGTON, Nov 29 (Reuters) - Skeptical lawmakers from across the political spectrum questioned executives at grocers Kroger Co (KR.N) and Albertsons Companies Inc (ACI.N) on Tuesday about their planned $25 billion merger amid concerns the tie-up could boost already-high food prices. The deal will be reviewed by the Federal Trade Commission to ensure it is legal under antitrust law. Stores under the Albertsons umbrella include Balducci's, Haggen, Kings, Safeway, Star Market, Tom Thumb, United Supermarkets and Vons, among others. The companies have also been criticized for a plan to give Albertsons' shareholders a $4 billion dividend payment. Senator Tom Cotton, a conservative Republican, criticized Kroger for the company's aprons with a design that appeared to support gay pride.
☆ China’s second-largest chipmaker poised for $2.5 billion IPO in Shanghai
  + stars: | 2022-11-07 | by ( ) www.reuters.com   time to read: +2 min
SHANGHAI, Nov 7 (Reuters) - Chinese chip manufacturer Hua Hong Semiconductor Ltd (1347.HK) has received regulatory approval for an 18 billion yuan ($2.5 billion) IPO in Shanghai, according to a filing published late on Friday on the Hong Kong stock exchange. The proceeds from the IPO will also go to upgrading the latter fab, according to its prospectus. Hua Hong’s Shanghai IPO will follow that of China’s Semiconductor Manufacturing International Corp (SMIC) (0981.HK), which, like Hua Hong, went public on Shanghai’s tech-centric STAR market in 2020 after it listed in Hong Kong years earlier. Hua Hong’s planned IPO comes after Washington passed unprecedented export controls on Chinese chip makers. Hua Hong specializes in mature technology, and generates most of its revenue making chips using 55-nanometer process technology.
☆ China to launch market-making on tech-focused STAR Market on Monday
  + stars: | 2022-10-28 | by ( ) www.reuters.com   time to read: +1 min
[1/2] A sign for STAR Market, China's new Nasdaq-style tech board, is seen after the listing ceremony of the first batch of companies at Shanghai Stock Exchange (SSE) in Shanghai, China July 22, 2019. REUTERS/StringerSHANGHAI, Oct 28 (Reuters) - China's Nasdaq-style STAR Market will officially launch market making on Monday, in a bid to make the tech-focused board more liquid, vibrant and resilient, the Shanghai Stock Exchange said. The STAR Market, home to some of China's biggest chipmakers, biotech companies and high-end manufactures, is tasked with funding Beijing's tech innovation amid growing Sino-U.S. rivalry. The Shanghai Stock Exchange said it will continue to improve market mechanisms to help China achieve tech independency and self-sufficiency. Regulators have approved 14 brokerages as the first batch of market makers, which actively quote in stocks, providing liquidity and depth to the market.
☆ China tech shares sink as U.S. export curbs raise chip sector hurdles
  + stars: | 2022-10-10 | by ( ) www.reuters.com   time to read: +7 min
The most immediate impact is likely to be felt by Chinese chipmakers, they said. The new regulations will now pose major hurdles for the two Chinese memory chipmakers, analysts said. A steep decline in tech shares led China's market down on its first post-Golden Week holiday trading on Monday. An index measuring China's semiconductor firms (.CSIH30184) tumbled nearly 7%, and Shanghai's tech-focused board STAR Market (.STAR50) declined 4.5%. SMIC dropped 4%, chip equipment maker NAURA Technology Group Co (002371.SZ) sank 10% by the daily limit, and Hua Hong Semiconductor plunged 9.5%.
☆ New China ETFs test investor appetite amid Sino-U.S. tech war, market rout
  + stars: | 2022-09-23 | by ( ) www.reuters.com   time to read: +3 min
REUTERS/Aly SongSHANGHAI, Sept 23 (Reuters) - Five Chinese tech-focused ETFs launched on Friday, testing investor appetite for chipmakers, new materials producers and machine tool manufacturers amid an escalating Sino-U.S. tech war, and a global rout in tech shares. Two of the ETFs will invest money into the stocks of the 50 biggest chipmakers listed on Shanghai's STAR Market, including Semiconductor Manufacturing International Corporation (SMIC) (0981.HK) and Montage Technology Co (688008.SS). read moreIt also comes amid heightened geopolitical tensions and tech rivalries between China and the United States. The Biden administration took fresh steps in recent weeks to support domestic tech sectors and cut economic reliance on China, sending shares in Chinese biotech and new energy lower. Shanghai's tech-focused STAR Market - which Beijing hopes will fund China's tech self-sufficiency - has tumbled roughly 30% this year.
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