Latest news with #HongKongMarket
South China Morning Post
5 days ago
- Business
- South China Morning Post
Big Hong Kong IPOs like CATL help squeeze price gaps of China's dual-listed companies
The price gap is narrowing for shares in Chinese companies that trade in Hong Kong and on the mainland, as listings of firms like Contemporary Amperex Technology (CATL) and Jiangsu Hengrui Pharmaceutical Group have attracted global investors in search of diversification. Advertisement A 17 per cent surge since its listing last month has propelled CATL's Hong Kong-traded shares (H shares) to an 11 per cent premium over their mainland-listed counterparts (A shares), a rarity among the 155 dual-listed companies. And the Hong Kong-listed shares of Hengrui, China's biggest drug maker by market value, are now nearly on par with the company's Shanghai-traded A shares. Hengrui also started trading in the city in May. The H-share discount to A shares has narrowed to 24 per cent from an average of 31 per cent over the past two years, according to a Hang Seng gauge that tracks the gap. The Hong Kong stock exchange's move to fast-track listings of high-quality Chinese companies already trading on the mainland has lured global investors seeking alternatives to US assets. The listings of these companies, generally the leading players in their industries, could help boost valuations in Hong Kong, which has struggled with a retreat by global investors over the past few years. 'Hong Kong's market isn't a closed one,' said Eva Yi, an analyst at Huatai Securities in Hong Kong. 'Listings of good-quality companies will attract capital inflows, improve liquidity in the long run and narrow the discount. The A-H premium will converge further.' Advertisement Among the 155 firms with two listings, only three companies' H shares command premiums to their A shares, according to data provider Shanghai DZH: CATL at 10 per cent, China Merchants Bank at about 2 per cent and biotech firm Wuxi AppTec at 0.4 per cent, the data showed.
South China Morning Post
31-05-2025
- Business
- South China Morning Post
NWD-led group gets US$166 million from sale of 24 luxury homes in Southern district
A consortium of developers, led by New World Development (NWD), raked in HK$1.3 billion (US$166 million) from the sale of 24 luxury units in Hong Kong's Southern district, as wealthy buyers take advantage of a market downturn to acquire prized assets. Advertisement On Friday, a 1,706 sq ft, four-bedroom unit in Deep Water Pavilia, a 447-unit luxury residential project in Wong Chuk Hang, sold for HK$85.3 million, or HK$50,000 per square foot – the highest in absolute terms and on a per-square-foot basis in the district in recent years, according to a statement from NWD on Friday. The developer owns 50 per cent of the project. The deal broke a record set just a few days earlier by a unit of the same size in the same development, which sold for HK$82 million. The buyers of the 24 flats included people from The Peak, the Southern district, Kowloon, as well as affluent individuals from mainland China and overseas, five of whom bought two units each, NWD said on Monday. One foreign buyer spent HK$147.3 million on two four-bedroom flats, including the one that cost HK$82 million. Analysts attributed the project's success – which benefits from a prime location overlooking Deep Water Bay and easy access to public transport – to improving market sentiment and declining interest rates. Advertisement The one-month Hong Kong interbank offered rate (Hibor), which is linked to mortgage loans, is currently at its lowest point in nearly three years.
South China Morning Post
27-05-2025
- Business
- South China Morning Post
Japanese retailers like 3Coins capitalise on Hong Kong's retail property slump to expand
3Coins, an Osaka-based retailer, plans to open an outlet in Causeway Bay, joining a list of Japanese businesses that are finding value amid a slump in Hong Kong's retail real estate market. 3Coins will open its first store in mid-July in Hysan Place and will carry Japanese products including grocery items, according to a Monday statement from Yaichi Group, a partner of the retailer. 3Coins was founded in 1994 and now has 365 stores across Japan. The size of the company's store in Hong Kong was not made available. 'Hong Kong's current economic climate is challenging … [but] many Hongkongers refer to Japan as their 'hometown', that's why we're committed to bringing good quality Japanese products at great value to the city,' said Lou. He said Yaichi, which represents Japanese brands like Sugar Butter Sand, Tokyo Banana and Mr. Cheesecake in Hong Kong, was also looking to expand its Japanese brands in the city. 'We recognise the strong local demand for authentic Japanese products and are dedicated to introducing more high-quality offerings to meet consumer expectations,' he said. The success stories of existing retailers in Hong Kong including supermarket chain Don Don Donki, furniture shop Nitori , as well as Muji, Francfranc and Aeon, have boosted the confidence of other Japanese businesses in the city, said Jeannette Chan, senior director of retail at JLL in Hong Kong.
Glasgow Times
26-05-2025
- Business
- Glasgow Times
New Colombian food spot opens at Glasgow's Barras
Colombian Bites has opened on Moncur Street "bringing Latin flavour to Glasgow". The new spot will be selling home made dishes such as arepas, empanadas and tostadas with a variety of fillings and toppings available. READ NEXT: Mexican restaurant closes doors after two years Following their first weekend at the market, bosses shared a post on Instagram that read: "What a weekend. "Thank you so much to everyone who came by, supported us, shared a smile or tried our food — you made our first days at The Barras truly unforgettable. "We're feeling the love, and we can't wait to see you again." READ NEXT: Why this 'delightful little place' is the highest-rated café in Glasgow Colombian Bites will be open from 10am to 4pm on Saturdays and Sundays with extended hours this weekend for the Hong Kong Market.
Daily Mail
11-05-2025
- Business
- Daily Mail
My fortune teller was right about everything... then she gripped my hand and made a prediction so horrifying it has changed the way I live my life
It was impossible to ignore them. Among the stalls selling novelty T-shirts, silk scarves and bargain souvenirs, the bustling Hong Kong market just beyond Wong Tai Sin Temple was lined with white tents.
