Latest news with #BonnieChan
CNBC
3 days ago
- Business
- CNBC
Important for markets to stay resilient and 'orderly' in face of rising uncertainty: HKEX CEO
HKEX CEO Bonnie Chan talks about how Hong Kong markets are navigating global market volatility, and the factors that are pulling in mainland Chinese companies & global companies to list in the city.
Business Times
3 days ago
- Business
- Business Times
Hong Kong, Saudi bourses seek deeper ties to spur trading volume
[HONG KONG] Hong Kong and Saudi Arabia are ramping up efforts to boost trading activity as inflows to their exchange-traded funds (ETFs) wane and cross-listings fail to materialise. Hong Kong Exchanges & Clearing (HKEX) chief executive officer Bonnie Chan and Mohammed Al-Rumaih, her counterpart at the Tadawul stock exchange, are poised to address the co-hosted Capital Markets Forum in Hong Kong on Thursday (May 29). The city's financial secretary Paul Chan and Securities and Futures Commission head Julia Leung will also speak. Hong Kong and Riyadh have strengthened relations in recent years, as the Asian city seeks to attract rich Gulf families and diversify its investor pool. Meanwhile, the oil-rich kingdom has worked to raise foreign ownership and pump liquidity in publicly traded stocks under its Vision 2030 agenda, with Chinese investors seen as central to that plan. An ETF tracking bonds issued by the Saudi government is set to start trading in Hong Kong on Thursday. It's the latest offering to join a slew of ETFs tracking Saudi and Chinese shares that have been listed in Hong Kong, Shenzhen, Shanghai and Riyadh since 2023, though trading volumes and inflows have remained slim since their debut. 'There seems to be limited organic and natural demand for these products, despite their strong performance, as most the assets under management seems to have come at inception with cornerstone investors including Saudi Arabia's Public Investment Fund and the Hong Kong Monetary Authority,' said Bloomberg Intelligence analyst Rebecca Sin. HK's recovery versus Saudi underperformance HKEX announced in October that it planned to open an office in the Saudi capital in 2025 as it sought to promote 'greater connectivity between China and the Gulf region,' according to a statement. That same month, Hong Kong's flagship carrier Cathay Pacific Airways started operating three return flights per week between the city and Riyadh. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Hong Kong's equity market has recovered sharply since chief executive John Lee's visit to the Gulf in early 2023, as Beijing seeks to reinforce the city as a funding hub for its companies. Major new share sales returned to the HKEX this year after a lacklustre period, mostly boosted by offerings from big Chinese firms that are already listed in the mainland. Earlier this month, electric-vehicle batteries giant Contemporary Amperex Technology Co Limited raised US$5.3 billion in Hong Kong following the world's largest listing of 2025. Total proceeds raised through equities sales in the city have already reached the highest for a full year since 2021. Hong Kong's benchmark Hang Seng Index is up 16 per cent this year, one of the best performers globally, contrasting with a drop of about 8 per cent for the Tadawul All Share Index. A memorandum of understanding to explore cross-listings between the exchanges was signed in 2023, though none have been executed so far. While there could be more ETFs listed across both regions this year following government-backed policies, 'more resources and education will be needed to get investors excited to invest into them,' said Bloomberg Intelligence's Sin. BLOOMBERG
Bloomberg
3 days ago
- Business
- Bloomberg
Hong Kong, Saudi Bourses Seek Deeper Ties to Spur Trading Volume
Hong Kong and Saudi Arabia are ramping up efforts to boost trading activity as inflows to their exchange-traded funds wane and cross-listings fail to materialize. Hong Kong Exchanges & Clearing Ltd. Chief Executive Officer Bonnie Chan and Mohammed Al-Rumaih, her counterpart at the Tadawul stock exchange, are poised to address the co-hosted Capital Markets Forum in Hong Kong on Thursday. The city's financial secretary Paul Chan and Securities and Futures Commission head Julia Leung will also speak.
RTHK
3 days ago
- Business
- RTHK
Over 150 firms hoping to list in Hong Kong: HKEX
Over 150 firms hoping to list in Hong Kong: HKEX HKEX chief executive officer Bonnie Chan says over 150 firms are looking to list in Hong Kong. Photo: RTHK CEO of Hong Kong Exchanges and Clearing (HKEX) Bonnie Chan said on Wednesday that more than 150 companies are lining up to list in the city, thanks to surging interest from mainland firms seeking to explore foreign markets. Chan said many companies eye offshore fundraising platforms to boost foreign currency reserves to support their overseas market plans. At the Greater China Private Equity Summit, Chan said some mainland firms listed in the US are also weighing up "homecoming" plans, amid de-listing threats by some US lawmakers. "There are still obviously some big names," Chan said. "I met with many of them in the past few weeks, and they share with me that their shareholders are very keen to make sure that they have a plan B. "That threat of de-listing may never realise, but it's good to have a plan B," she told participants of a forum. Unicorns and innovative companies are also interested in listing in the SAR, Chan added, noting that the city's stock exchange operator has been carrying out reforms to assist such firms. Separately, Chan noted that Hong Kong-listed firms, with their attractive valuations and solid fundamentals, can seize the opportunity to attract global capital, as quality funds and investors are reassessing their investment portfolio allocations following volatilities stemming from a recent retreat in US dollar-denominated assets. She cited examples such as the latest successful listing of Contemporary Amperex Technology Co., Limited (CATL) that has attracted investors from the Middle East and Europe, noting that stable and certain policies are one of the key considerations when global funds re-allocate their investments.
South China Morning Post
4 days ago
- Business
- South China Morning Post
3 ‘formidable' clusters of companies targeting Hong Kong IPOs, HKEX CEO says
'Formidable' clusters of companies are set to tap Hong Kong's initial public offering (IPO) market, which is an attractive entry point for global capital seeking diversification, according to the Hong Kong Exchanges and Clearing (HKEX). Advertisement IPOs in the city have raised around US$10 billion this year and there were more than 150 companies in the pipeline, including many US$1-billion-plus jumbo deals, CEO Bonnie Chan Yiting said on Wednesday at the Greater China Private Equity Summit organised by the Hong Kong Venture Capital and Private Equity Association. The three clusters driving the 'formidable' IPO pipeline in Hong Kong were mainland Chinese A-share firms, US-listed Chinese firms and specialist companies, she said. 'Many of the A to H listings have international ambitions,' she said. 'As this going-out concept continues, you will see many of these A share companies wanting to have an offshore fundraising platform to support their overseas expansion plans.' HKEX CEO Bonnie Chan (left) and Rebecca Xu, co-founder and managing director of Asia Alternatives have a discussion at the Greater China Private Equity Summit in Hong Kong on Wednesday. Photo: Elson Li Within this category, more than 40 companies had filed their IPO applications or had announced such plans, Chan said, adding that the momentum in the IPO market would be a boon for the region's private equity sector, aiding fundraising and investment exits. Advertisement On the potential homecoming of Chinese companies listed in the US, Chan said the Hong Kong stock exchange was ready to welcome them.
