- South China Morning Post
Hong Kong MPF: investors who switched to US stocks miss out on rally as fund rakes in HK$14,000 per member in best performance since 2017
The Mandatory Provident Fund (MPF) put in its best performance in seven years in the first five months of 2024, though members who shifted their cash from Hong Kong and China equities to US stock funds have largely missed the rally. The 379 MPF investment funds earned a combined HK$66.4 billion (US$8.5 billion) as of May 21, according to MPF Ratings, an independent research firm. That is equivalent to HK$14,000 for each of its members. Hong Kong's compulsory retirement fund generated an average
- South China Morning Post
China's exporters, eager for Russia foothold, tread lightly to avoid financial bear trap
In recent weeks, the 25th floor of the Shanghai Tower has been swarmed with Chinese exporters. Legions of businesspeople have flocked from all over the country to open a new account at VTB Bank - the only Russian bank currently in operation within China's borders. Among the crowd on Tuesday was Yeno Yan, an agricultural machinery manufacturer who had flown in from the eastern province of Shandong. Eager to clear up headaches caused by trying to collect payments from Russian clients - a common pr
- South China Morning Post
JPMorgan says IPO markets in Hong Kong, mainland China set for turnaround as stock rallies reflate valuations and confidence
A bull run in Hong Kong's stock market has helped raise valuations and improve sentiment among investors, feeding a recovery in fundraising activities on the local bourse and its peers in mainland China, according to JPMorgan Chase. As such, new listing candidates are becoming more reasonable about their expectations for initial public offering (IPO) pricing, according to Sjoerd Leenart, the US bank's head of Asia-Pacific region. Capital-hungry technology start-ups are also likely to be a key gr
