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...“It is always inevitable that Hong Kong would contract as a port,” said Tim Huxley, chair of Hong Kong-based shipping investment company Mandarin Shipping. “Manufacturing moved elsewhere....
...It is clearly time for Hong Kong’s stock exchange to “reset”, said Sally Wong, chief executive of the Hong Kong Investment Funds Association....
...The bursting of Chabaidao’s bubble will now set the tone for the Hong Kong IPO market in the coming months....
...Shares of the Hong Kong-listed shipping and logistics subsidiary of Cosco, one of the world’s largest shipping groups, dipped 15 per cent after the company reported profits fell 86 per cent year on year...
...The US military said on Monday its forces had destroyed a Houthi missile system that was “ready to launch” attacks on commercial shipping off the coast of Yemen....
...The once-dominant sectors of garments and shipping were witnessing a precipitous decline....
...Hong Kong Exchanges and Clearing reported a 13 per cent fall in profits for the fourth quarter on the back of subdued trading and fewer new listings....
...As well as the proposed tourism zone around Sha Tau Kok, local officials have identified three other areas in the northern New Territories — the part of Hong Kong that abuts the mainland — for co-operation...
...Economic data: Australia and Hong Kong publish employment data and China is scheduled to announce foreign direct investment figures....
...Additional reporting by Cheng Leng in Hong Kong...
...Corporate updates: Taiwan Semiconductor Manufacturing Co releases its March sales figures. Japan’s Seven and i Holdings and China’s Bank of Ningbo announce results for the the fourth quarter....
...So far this year, only five companies have listed in Hong Kong, raising a combined $279mn and reflecting a year-to-date drop of about 18 per cent from a year ago....
...Trained as an accountant, she worked at Lehmann Maupin’s Hong Kong gallery for a year and in 2019 became co-partner in Mine Project, which focused on Chinese and international artists....
...Other shareholders in what is one of Europe’s largest but most discreet buyout groups, including the Hong Kong Monetary Authority, the Kuwait Investment Authority and Singapore’s GIC, will also sell down...
...Ed Tang, who co-runs the advisory business Art-Bureau out of Hong Kong, New York and London, is of a similar mind....
...When Pi Li left Hong Kong’s M+ contemporary art museum last year, it came as something of a surprise....
...He also warned that average daily turnover in Hong Kong’s stock market had remained low in the new year, “suggesting risk for further earnings cut”....
...Exhibitors at Art Basel Hong Kong were enthusiastic at this year’s VIP opening as the event returned to a full-scale, post-pandemic 242 galleries....
...China has called for safety of navigation in the Red Sea, where Iran-backed Houthi rebels have disrupted commercial shipping with drone and missile attacks in retaliation for Israel’s invasion of Gaza....
...“2023 represents a pivotal chapter in our corporate history,” said chair and co-chief executive Chen Lei. “We saw growing demand driven by encouraging consumer sentiment.”...
...The appointment of Imatsu, a Goldman Sachs veteran currently based in Hong Kong, follows the abrupt departure in November of Masanori Mochida, the near 70-year old banker who had led the group for more than...
...The ministry said in a policy document on Wednesday that it would “guide” domestic EV companies to “communicate and co-operate with foreign counterparts”....
...Advanced packaging requires greater co-operation between industry specialists....
...The problem, as Hong Kong’s rage attests, is that it got them. leo.lewis@ft.com...
...Earnings: Robotics manufacturer Keyence, telecommunications operator KDDI and trading company Mitsui & Co announce results....
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