Published December 12, 2018 IPOs Reuters Facebook Twitter Comments Print article Ma Huateng, CEO of Chinese internet giant Tencent Holdings. (Photo by STR / AFP) China-based music streaming company Tencent Music Entertainment Group said it raised close to $1.1 billion in its U.S. initial public offering (IPO) after pricing its shares at the bottom of its targeted range. Continue Reading Below The music arm of gaming and social network giant Tencent Holdings priced its American Depositary Receipts (ADRs) at $13 per share, at the low end of its indicated $13 to $15 per share range, it said in a filing with the Hong Kong stock exchange. The IPO values Tencent Music at $21.3 billion and shows how companies are defying a bout of market volatility with flotations. Tencent Music sold 41 million ADRs, while existing shareholders sold a further 40.9 million, the filing said. Tencent Music's IPO tops off a bumper year … [Read more...] about China’s Tencent Music raises nearly $1.1B in US IPO
Trade hong kong stocks in us
Hong Kong's stock market is caught in a perfect storm. Fears about the trade war, emerging markets, China's slowing economy, and individual stocks pushed the city's benchmark Hang Seng Index (HSI) into a bear market on Tuesday. The index ended the day 0.7% lower, closing more than 20% below its recent peak in January. The Hong Kong market, one of the world's most heavily traded, has been rocked this year by the escalating trade war between China and the United States. The waves of new tariffs have hurt Hong Kong because many of the biggest companies listed in the city are based in China. Dickie Wong, research director at Hong Kong-based stock broker Kingston Securities, predicts the market could potentially fall another 5% in the short term. The gloom is likely to last at least until the US midterm elections in November. "Increasing tensions between the United States and China are not going to end before then," Wong said. Mainland Chinese stocks entered a bear market in … [Read more...] about China’s troubles push Hong Kong stocks into a bear market
1. Bears in Hong Kong: Hong Kong's stock market is crumbling on mounting fears of an escalating trade war between the United States and China, and concerns about slowing economic growth in China. A decline in China's currency, the yuan, has made it more expensive for Chinese investors to buy Hong Kong stocks because they are priced in the Hong Kong dollar, which is pegged to the US dollar. Fears about the stability of emerging markets are adding to the overall nervousness. The Hang Seng index fell into a bear market on Tuesday, closing 0.7% lower for the day to stand more than 20% below its recent peak in January. There's been a bear market in stocks in mainland China since late June. President Donald Trump said Friday he's prepared to impose another huge wave of tariffs on $267 billion of Chinese products. On top of tariffs already in place or in the works, such a move would apply new taxes to the entire $505 billion of goods the United States imported from China last year. … [Read more...] about Hong Kong bear market; Japan’s chip deal; Alibaba in Russia
TOKYO--(Antara/BUSINESS WIRE)-- BitOne Trade HK, which is a cryptocurrency trading platform operated via Bit One Hong Kong Limited, an affiliated company of Bit One Group Co.,Ltd., a Japanese listed company (TOKYO: 2338), (Director：Kimura Junichi, Location：Flat A, 25/F, Block 3, Golden Dragon Industrial Centre, 182-190 Tai Lin Pai Road, Kwai Fon Kowloon, Hong Kong), will be officially rolling out the cryptocurrency trading platform beginning in September 2018.This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20180906006009/en/BitOne Trade HKhttps://bitonehk.com[ Features ] 1. A cryptocurrency trading platform of "Made in Japan" is operated via an affiliated company of a listed company in Japan. 2. With 30 cryptocurrencies on offer and more than 100 coins will be listed in future. 3. Plans to issue own Token by the end of this year.Our platform is launched in Hong … [Read more...] about Bit One Hong Kong : “Made in Japan” cryptocurrency exchange is now coming!
HONG KONG (Reuters) - China Tower Corp’s shares opened virtually flat on their debut in Hong Kong on Wednesday, with escalating Sino-US trade tensions weighing on investor sentiment toward the world’s biggest initial public offering (IPO) in two years. FILE PHOTO A sign of China Tower Corp is seen at the PT Expo China in Beijing, China September 20, 2016. REUTERS/Stringer/File Photo Coming after a string of weak IPO debuts in Hong Kong, China Tower’s performance could impact upcoming listings such as Sinochem Energy. It may also weigh on the city’s attempts to sustain its record fundraising from stock floats. Shares of China Tower, the world’s largest mobile telecommunications tower operator, were trading at HK$1.27 in early trade, compared with the IPO price of HK$1.26. China Tower Corporation Limited Chairman, Executive Director and General Manager Tong Jilu attends the debut of the company at the Hong Kong Exchanges in Hong Kong, China … [Read more...] about China Tower barely changed in Hong Kong debut