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Search resuls for: "Hong Kong Exchanges"


9 mentions found


☆ Explainer: What's behind Hong Kong's tightening cash conditions?
  + stars: | 2022-11-03 | by ( Georgina Lee | ) www.reuters.com   time to read: +4 min
HONG KONG, Nov 3 (Reuters) - A weak Hong Kong dollar and capital outflows have pushed the city's interbank rates to 14-year highs and drained cash levels to their lowest in two years, sparking investor worries about Hong Kong's cherished currency peg and its economic health. Below are some details on the complex policy framework and recent developments surrounding the tight liquidity:WHY IS HONG KONG ON INVESTORS' RADAR? That has tightened cash in the economy and driven the one-month Hong Kong Interbank Offer Rate (HIBOR) to a 14-year high. A dearth of initial public offerings this year on Hong Kong Exchanges & Clearing's (HKEX) markets has dampened investor demand for Hong Kong dollars. Hong Kong rates, liquidity($1 = 7.8498 Hong Kong dollars)Reporting by Georgina Lee; Editing by Vidya Ranganathan and Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.
☆ Hong Kong market's resiliency backed by long-term strength and fundamentals, says HKEX
  + stars: | 2022-11-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHong Kong market's resiliency backed by long-term strength and fundamentals, says HKEXNicolas Aguzin of the Hong Kong Exchanges and Clearing says he believes in the long-term strength of the Hong Kong market due to its "special fundamentals" as an international financial center.
☆ Hong Kong’s Stock Exchange Proposes Waiving Revenue Requirement for Some Tech IPOs
  + stars: | 2022-10-19 | by ( Dave Sebastian | ) www.wsj.com   time to read: 1 min
Primary and secondary listings on Hong Kong’s stock exchange so far this year are down 71% from the same period last year. Hong Kong’s stock exchange is planning new rules allowing some technology and science companies that haven’t yet generated revenue to go public, its latest effort to boost initial-public-offering volumes. Hong Kong Exchanges & Clearing operator of the exchange, wants to lower the bar for listings of pre-revenue and early-stage technology companies. That would expand the number of potential IPOs in a market that has struggled this year. Primary and secondary listings in Hong Kong so far this year have raised $10.78 billion, down 71% from the same period in 2021, according to Dealogic.
☆ Asia hedge fund losses grow in Q3, poised for worst year since 2008
  + stars: | 2022-10-19 | by ( Summer Zhen | ) www.reuters.com   time to read: +3 min
“It’s a very painful third quarter for (Asia) hedge fund managers’ performance. Repeated lockdowns in many Chinese cities, a risk-off mode ahead of the party congress and geopolitical risks affected market sentiment. The magnitude of central bank policy moves and frequent macro headlines created profitable trading opportunities for macro hedge funds globally, analysts said. The HFRI Asia ex-Japan Index tracks funds that target more than 50% of their investments in the Asia ex-Japan region. Japan-focused hedge funds fared relatively well, with the HFRI Asia index that includes Japan, down just 3.3% in September and 3.9% this year.
☆ Hong Kong exchange's third-quarter profits down 30% on lower trading volume
  + stars: | 2022-10-19 | by ( ) www.cnbc.com   time to read: 1 min
Hong Kong's bourse operator on Wednesday reported a 30% drop in third quarter profits as rising rates, inflationary pressure and geopolitical tensions hurt fees generated from trading and listing activities. The profit attributable of Hong Kong Exchanges and Clearing (HKEX) in the third quarter slumped to HK$2.26 billion from HK$3.25 billion the same period last year. Revenue of the bourse in the quarter dropped by 23% from HK$5.31 billion to HK$3.94 billion, dragged down by weaker cash market turnover due to lower market liquidity and sluggish trading.
☆ Asia-Pacific markets inch up after Wall Street gains overnight
  + stars: | 2022-10-19 | by ( Abigail Ng | ) www.cnbc.com   time to read: 1 min
A pedestrian looks at Japanese companies' share prices of the Tokyo Stock Exchange displayed on an electronic board in Tokyo on April 30, 2021. Shares in the Asia-Pacific inched higher on Wednesday following a second day of gains in major U.S. indexes. The Japanese yen remained above 149 against the U.S. dollar. MSCI's broadest index of Asia-Pacific shares outside Japan was fractionally higher. China was due to release home prices data Wednesday, but the release has been delayed.
☆ Hong Kong leader John Lee delivers his maiden policy address
  + stars: | 2022-10-19 | by ( ) www.reuters.com   time to read: +5 min
HONG KONG, Oct 19 (Reuters) - Hong Kong's new leader John Lee delivered his maiden policy address annual policy address on Wednesday, mapping out his priorities for the former British colony which returned to Chinese rule in 1997. - To set aside HK$30 billion from the Future Fund to establish the Co-Investment Fund for attracting enterprises to set up operations in Hong Kong and investing in their business. ECONOMY- To set up a new Hong Kong Investment Corporation Limited (HKIC) to further optimise the use of fiscal reserves for promoting the development of industries and the economy, and to attract and support more enterprises to develop their business in Hong Kong. - To develop Hong Kong into an international carbon market. - The Hong Kong Monetary Authority (HKMA) has begun the preparatory work for issuing "e-HKD" (e-Hong Kong dollar) and is collaborating with the Mainland institutions to expand the testing of "e-CNY" (e-Chinese yuan) as a cross-boundary payment facility in Hong Kong.
☆ UK court says Elliott, Jane Street can sue LME for cancelled nickel trades
  + stars: | 2022-10-10 | by ( Pratima Desai | ) www.reuters.com   time to read: +2 min
LONDON, Oct 10 (Reuters) - A British court has granted permission for U.S.-based hedge fund Elliot Associates and Jane Street Global Trading to sue the London Metal Exchange (LME) for cancelling nickel trades in March, a court document showed. Elliott and Jane Street are demanding damages of $456.4 million and $15.34 million respectively, after the nickel price topped a record $100,000 per tonne on March 8, prompting the LME's suspension of nickel trading and voiding of trades. The nickel trading episode has been the biggest crisis to hit the world's oldest metals forum in decades. "The LME therefore continues to consider that Elliott's and Jane Street's grounds for complaint are without merit, and the LME will defend any judicial review proceedings vigorously." Elliott Associates declined to comment and Jane Street did not immediately respond to a request for comment.
☆ Asia shares gain ground, hefty Fed rate hike seen priced in
  + stars: | 2022-09-20 | by ( Julie Zhu | ) www.reuters.com   time to read: +4 min
Even more so than the Ukraine war or corporate earnings, the actions of the U.S. central bank are driving market sentiment as traders position themselves for a rising interest rate environment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 1.2 % while Australian shares (.AXJO) climbed 1.2%. Markets are priced for rates to climb as high as 4.5% by early 2023, compared with the Fed's current 2.25%-2.5% policy rate range. It is not just in the United States that interest rate rises are expected. read moreChina's central bank went its own way though, cutting on Monday a repo rate by 10 basis points to support its ailing economy.
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