Latest news with #ChowTaiFook
South China Morning Post
09-05-2025
- Business
- South China Morning Post
Hong Kong stocks waver ahead of US-China trade talks in Switzerland
Hong Kong stocks fluctuated between losses and gains for most of the morning session after US President Donald Trump said that the trade talks with China on the weekend could lead to 'substantive' tariff cuts. Advertisement The Hang Seng Index edged up 0.01 per cent to 22,777.88 at the noon break, having risen as much as 0.6 per cent before retreating 0.4 per cent. The Hang Seng Tech Index declined 1.6 per cent. On the mainland, the CSI 300 Index fell 0.2 per cent, while the Shanghai Composite Index eased 0.3 per cent. Chow Tai Fook Jewellery rose 3.8 per cent to HK$10.88 and Sun Hung Kai Properties was up 3 per cent to HK$78.65. Chipmaker Semiconductor Manufacturing International, which reported a 28 per cent year on year increase in revenue for the first quarter, fell 6.9 per cent to HK$42.05. State-owned developer China Resources Land fell 3 per cent to HK$25.50. Dickie Wong, executive director of research at Kingston Securities, said investors were resorting to profit-taking following the market's rally over the past few days. Investors were likely to take a wait-and-see approach over the next few days to see how the trade talks play out, he added. Chinese Vice-Premier He Lifeng will meet US Treasury Secretary Scott Bessent this weekend in Switzerland. Trump said on Thursday that he believed the negotiations would result in tangible progress. Advertisement 'I think it's going to be substantive,' Trump said, while announcing a framework trade agreement with the UK, the first such deal since he imposed sweeping tariffs on April 2 on all trading partners. The agreement, which is seen by many as limited, still maintains 10 per cent duties on UK exports.
South China Morning Post
09-05-2025
- Business
- South China Morning Post
Hong Kong stocks extend longest winning streak in over a year on hopes of tariff cuts
Hong Kong stocks rose for the seventh straight trading day on Friday, their longest winning streak in more than a year, after US President Donald Trump said that the trade talks with China on the weekend could lead to 'substantive' tariff cuts. Advertisement The Hang Seng Index edged up 0.4 per cent to 22,859.46 at 10am. The Hang Seng Tech Index was down about 0.8 per cent. On the mainland, the CSI 300 Index fell marginally, while the Shanghai Composite Index eased 0.1 per cent. Chow Tai Fook Jewellery rose 4 per cent to HK$23.55 and Geely Automobile gained 2.7 per cent to HK$18.00. Chipmaker Semiconductor Manufacturing International, which reported a 28 per cent year on year increase in revenue for the first quarter, fell 4.8 per cent to HK$43.00. Developer Longfor Group fell 1 per cent to HK$17.40. Chinese Vice-Premier He Lifeng will meet US Treasury Secretary Scott Bessent this weekend in Switzerland. Trump said on Thursday that he believed the negotiations would result in tangible progress. 'I think it's going to be substantive,' Trump said, while announcing a framework trade agreement with the UK, the first such deal since he imposed sweeping tariffs on April 2 on all trading partners. The agreement, which is seen by many as limited, still maintains 10 per cent duties on UK exports. Advertisement The Hang Seng Index's rally is the longest since April last year, when Beijing announced a series of measures to boost the city's financial market amid an exodus of foreign investments and a period of low capital market activity.
South China Morning Post
06-05-2025
- Entertainment
- South China Morning Post
As toys go viral, Hong Kong must grab a 300 billion yuan opportunity
Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at [email protected] or filling in this Google form . Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification Advertisement The Chinese fan base for anime, comics and games (ACG) is expected to grow to 520 million by 2026. This points to the potential of China's intellectual property-driven 'goods economy' , which was worth 169 billion yuan (US$23.2 million) last year and is forecast to reach 300 billion yuan by 2029. For Hong Kong, this presents a golden opportunity to be a key player in the booming market. The name of this game is emotional consumption, and successful intellectual property (IP) includes cuddly characters like Labubu and Chiikawa , which grow their fan bases through the integrated comic-anime-game ecosystem. Strategies like selling collectible toys in 'blind boxes' also drive revenue, with Pop Mart, the exclusive retailer of Labubu dolls, achieving a year-on-year increase in net profit of 186 per cent last year. Retail spaces on the mainland have transformed to capitalise on the trend. For example, Beijing's Wangfujing Xiyue shopping centre is dedicating entire floors to immersive experiences, while Wuhan's Trend Box X118 mall has seen a 32 per cent revenue boost after becoming an ACG space. Advertisement Hong Kong is starting to tap this market. At the retail level, some bracelets and coins from jeweller Chow Tai Fook's recent Chiikawa collection sold out within hours. At the IP development level, Incubase Studio and K11 Concepts Management are bringing in anime exhibitions, with the aim of developing the city into a hub for anime culture and creative innovation.
South China Morning Post
24-03-2025
- Business
- South China Morning Post
Hong Kong brands urged to emulate success of Chiikawa and Chow Tai Fook collaboration
Hong Kong brands have been urged to create more unique intellectual properties (IPs) or seek out high-profile partnerships after local consumers revelled in the release of a bracelet and coin collaboration between China's largest jewellery retailer and Japanese anime sensation Chiikawa. Advertisement The Chow Tai Fook Chiikawa collection, which was released exclusively at the iSquare store in Tsim Sha Tsui on Sunday, attracted more than 100 people, with some reportedly forming a queue as early as 7am. Three out of the six bracelets and one out of three coins were sold out within two hours of the store opening at 10.30am, with some second-hand listings already appearing on local resale websites at higher prices. The bracelets, featuring the three characters Chiikawa, Usagi, and Hachiware, were priced at HK$2,100 (US$270), with a gold weight of about 0.9 grams, while the coins were priced at HK$540, with a weight of around 0.1 grams. Chow Tai Fook's iSquare shop at Tsim Sha Tsui promoting its Chikawa gold jewellery collection. Photo: Jelly Tse Second-hand listings on the online retail platform Carousell varied from HK$2,300 to HK$2,900 for the bracelets and HK$800 to HK$900 for the coins.
Yahoo
07-03-2025
- Business
- Yahoo
Australian casino firm scrambles for cash to survive
Troubled Australian casino operator Star Entertainment said Friday it is trying to sell its stake in a major resort to raise desperately needed cash. Shares in the group, which employs more than 8,000 people, have been suspended from trading since March 3 after it failed to post half-year financial results citing liquidity woes. Star Entertainment is considered an economically important tourist draw with casinos, bars, restaurants and hotels at resorts in Sydney, Brisbane and the Gold Coast. The firm said Friday it has been in talks with two Hong Kong-based firms -- Chow Tai Fook and Far East Consortium -- which are partners in the joint venture that owns its Brisbane resort. Star Entertainment was discussing selling its 50-percent stake in the Brisbane joint venture to the two partners -- so far in vain, it said. "The Star has been unable to reach an agreement with its Joint Venture Partners to date," the casino group said in a statement. The company is widely reported to be close to falling into administration, and it has admitted there is "material uncertainty" over its future. The casino firm last traded at Aus$0.11 a share (US$0.07) with a market capitalisation of Aus$316 million -- a shadow of its Aus$5 billion-plus value from about seven years ago. Its finances have been hit by the cost of developing the new Brisbane casino complex, the threat of an anti-money laundering fine and stricter regulation in the industry, according to the Australian Financial Review. The company has previously been accused of not adequately policing criminal infiltration and doing little to vet the sources of money coming into the business. Watchdogs found that one patron -- a Chinese real estate billionaire barred by the Australian government for being an agent of Chinese influence -- had ploughed more than a billion dollars into Star over several years. Another high-rolling patron was allegedly involved in human trafficking. The group was also temporarily delisted from the Australian Securities Exchange last year after failing to post its annual financial results on time. Australians are infamously big gamblers, losing Aus$31.5 billion in the 2022-23 financial year, including Aus$3.6 billion in casinos, according to the latest government data. bur-djw/sft/sco
