HANG SENG INDEX (^HSI)
- Yahoo Finance UK
European markets rally but Wall Street struggles continue
Europe tracked a strong bounce in Asia following sharp declines in the previous sessions as Wall Street falters.
- Bloomberg
Tencent Leads China Tech Selloff as Earnings Worries Mount
(Bloomberg) -- Chinese tech stocks slumped as weak corporate earnings coupled with a dimming global growth outlook intensified selling. Most Read from BloombergTarget and Walmart’s Deep Pain Could Be Your GainWalmart Flashes a Warning Sign to the Entire Consumer EconomyPlotkin Shuts Melvin Hedge Fund Reeling From Redditor AttackStocks Suffer Steepest Rout in Almost Two Years: Markets WrapMusk Loses $12 Billion in a Day as He Tweets Politics, Slams ESGThe Hang Seng Tech Index closed 4% lower on T
- Reuters
Hong Kong new listings volume sinks to 9-year low on China slowdown
Hong Kong's new listings volume plunged 90% to a nine-year low this year, data showed, as China's sharp economic slowdown and its regulatory drive cast a long shadow over the city's prospects as a destination for initial public offerings (IPOs). The drying up of share listings in Hong Kong bodes ill for investment banks, who make about a third of their revenue in the region from equity capital market deals, and for the Chinese-ruled territory's status as a global financial hub. Only $2.1 billion has been raised this year via IPOs and secondary listings in Asia's most popular fundraising venue compared to $20.7 billion by the same time last year, according to Refinitiv data, the slowest start to a year since 2013.
