Hong Kong Exchanges & Clearing Stock Slips 2.6% in Hong Kong

Dow JonesNov 14 16:31

Market Review: Alibaba Leads Market Gains as Northbound Funds Record Net Outflow of Over HKD 3.5 Billion; Tencent’s Quarterly Results Exceed Expectations

Driven by Alibaba's (09988.HK) afternoon rally, the Hang Seng Index reversed to close up nearly 0.6% for the day. Market expectations that the longest shutdown in U.S. government history might be coming to an end saw the Dow Jones and Nasdaq rise 0.7% and fall 0.3%, respectively, overnight. At the time of writing, the yield on the 2-year U.S. Treasury bond had risen to 3.574%, while the yield on the 10-year U.S. Treasury bond stood at 4.079%. The U.S. Dollar Index fell to 99.16. This morning, U.S. President Trump signed a temporary funding bill, ending the federal government shutdown. The latest Dow futures rose 50 points, or 0.1%, while Nasdaq futures fell 13 points, or 0.05%. The offshore Renminbi...

AASTOCKSNov 13 17:23

HSBC Research: HKEX's (00388.HK) acquisition of a 20% stake in CCASS Clearing Holdings is expected to have limited short-term financial impact.

HSBC Research issued a report stating that HKEX (00388.HK) will acquire a 20% stake in Xunqing Settlement Holdings for HKD 4.55 billion. The firm views the transaction as positive for HKEX, with limited short-term financial impact, while the commercialization of Xunqing may offer upside potential. HKEX has repeatedly driven market development through financial infrastructure innovation in the past, and expectations are growing for the growth potential of HKEX’s financial innovation hub business. The firm reiterated a "Buy" rating and a target price of HKD 530.

AASTOCKSNov 13 15:39

Glencore and China Hongqiao are rumored to potentially become cornerstone investors in Innovative Industrial's IPO.

Bloomberg reported, citing sources, that Glencore, China Hongqiao (01378.HK), and Hillhouse Investment plan to participate in the Hong Kong IPO of Chalco Aluminium Corporation, a mainland alumina refining and electrolytic aluminium smelting company. This demonstrates confidence in the company’s prospects amid rising aluminium prices. Reportedly, Glencore, China Hongqiao, and Hillhouse are preparing to become cornerstone investors in Chalco Aluminium Corporation's IPO, with these three firms and other cornerstone investors potentially subscribing to approximately half of the shares. Sources indicated that Chalco Aluminium Corporation plans to begin accepting investor subscriptions as early as this Friday (September 13), with the IPO aiming to raise a target amount of US$700 million.

AASTOCKSNov 13 13:53

The CSRC announced optimized measures for the cross-border Wealth Management Connect, promoting interaction between participating institutions and clients.

The Securities and Futures Commission (SFC) has announced new optimization measures for the Cross-boundary Wealth Management Connect Pilot Scheme (Wealth Management Connect Scheme) to enhance communication between participating licensed corporations (participating institutions) and their clients. The SFC has outlined implementation details for optimizing client interaction communications in a circular, with key arrangements including: - Participating institutions can now obtain one-time written consent from Southbound Connect clients not physically present in Hong Kong, valid for up to one year, to explain product information based on clients' needs and selected product types; - Mainland partner brokers (partner brokers) within the same corporate group as the participating institutions may, at the request of Southbound Connect clients, arrange...

AASTOCKSNov 13 12:58

Tse Chin-wan: As of last year, Hong Kong ranked first in Asia for seven consecutive years in terms of the issuance volume of green and sustainable bonds.

Secretary for the Environment and Ecology, Xie Zhanhuan, recently attended the 30th Conference of the Parties to the United Nations Framework Convention on Climate Change in Belém, Brazil. During a thematic discussion session at the China Pavilion side event, he noted that as of 2024 alone, the total issuance of green and sustainable bonds in Hong Kong has reached 45% of the regional total, ranking first in the Asian market for seven consecutive years. Additionally, to encourage the development of green finance, the Hong Kong Special Administrative Region Government has introduced the 'Green and Sustainable Finance Grant Scheme,' which subsidizes part of the issuance costs and external review service expenses for eligible bond issuers and loan borrowers. The scheme has been extended until 2027 and its scope of funding expanded.

AASTOCKSNov 13 09:37