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...It runs alongside a parallel localisation drive under way in state-owned enterprises....
...Additional reporting by Cheng Leng in Hong Kong...
...This included its Hong Kong office....
...However, the options for migrating to China’s alternative chip ecosystem under development are limited, leading some companies to turn to Nvidia’s less expensive gaming chips....
...A deep market downturn in Hong Kong has made it more difficult for Chinese companies to raise money closer to home....
...Shares of Chinese companies traded in Hong Kong dropped on Tuesday after Beijing announced an annual budget that lacked any “bazooka” stimulus for the country’s slowing economy....
...Industry insiders said the limited size of the Hong Kong market meant the first approvals would be the most valuable....
...Profits at foreign-owned business surged 31.2 per cent and climbed 12.7 per cent at private companies. State-owned enterprises saw profits edge up just 0.5 per cent....
...The Hang Seng China Enterprises index, which also includes larger state-owned and privately-owned corporations, rose 1 per cent....
...An index of small cap companies in mainland China dropped 4.8 per cent on Tuesday despite the country’s stronger than expected first-quarter gross domestic product figures....
...A closely watched index for Chinese companies listed in Hong Kong fell to its lowest level since the final days of the country’s zero-Covid policy....
...But after 2020, we’ve seen SOEs improving,” said Winnie Wu, a strategist at BofA Securities in Hong Kong....
...During exogenous shocks such as the Asian and global financial crises, there was an understanding that government response was limited and that Hong Kong’s business class would need to get off the floor,...
...Earnings: Asian companies with results due include Sumitomo Mitsui Financial Group, Chugai Pharmaceutical and Adani Enterprises....
...The petition, filed at the Hong Kong High Court by Ever Credit Limited, involved non-payment of a HK$1.6bn ($204.5mn) loan, plus accrued interest....
...Now, SOEs listed in Hong Kong have been outperforming the city’s benchmark index, and investors are taking notice. Here to talk with me about it is the FT’s William Sandlund. Hi, William....
...Kong....
...Hong Kong is now “firmly under Beijing’s thumb”, says Prasad, warning that “[Beijing’s] imposition of its limited version of the rule of law that features judicial subservience to the government could erode...
...Seng China Enterprises index dropped 2 per cent....
...Quinn said on Tuesday that the bank’s business in Argentina was largely focused on the domestic market, with limited ties to its global operations, and generated “substantial earnings volatility” when its...
...Most of the products linked to the Hong Kong index were sold in 2021, when interest rates were low....
...There are about 400,000 accounts for the products tied to the Hong Kong index....
...The IPO option has become more difficult because of challenging market conditions in places such as Hong Kong and China....
...“Quants in general make money by exploiting market anomalies,” said Wang Qi, chief investment officer for wealth management at UOB Kay Hian in Hong Kong....
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