China Telecom, one of China’s state-run telecoms groups, has been cleared to raise $8.4 billion in Shanghai after being forced off the New York Stock Exchange, in what would be the country’s biggest listing in a decade, reported the Financial Times. The company was booted from the New York Stock Exchange along with state-run peers […]
Category: Markets
Global investors sold $2 billion of Chinese stocks on Monday as Beijing’s crackdown on education companies raised fears of more regulatory tightening across the world’s second-biggest economy, reported the Financial Times. Investors offloaded RMB12.8 billion ($2 billion) worth of Shanghai and Shenzhen-listed shares through market link-ups in Hong Kong, marking the fastest pace of foreign […]
Shares in China Evergrande jumped from four-year lows after the highly indebted property group announced it had resolved a legal dispute with a Chinese bank, reported the Financial Times. The developer, led by billionaire Hui Ka Yan, is being closely tracked by regulators, investors and rating agencies, which are concerned about the potential for contagion […]
China’s state energy giant China Petroleum & Chemical Corp. (Sinopec) inked a deal Wednesday to purchase 100,000 tons of carbon emission quota from China Resources Group, marking the first bulk transaction since the official launch of the country’s national carbon market, reported Caixin. The transaction totaled RMB 5.29 million ($817,190), equivalent to RMB 52.92 ($8.18) […]
Global investment banks are racing to redirect Chinese groups’ initial public offerings towards Hong Kong after new cyber security rules instituted by Beijing halted lucrative tech listings previously heading for New York, reported the Financial Times. About 20 Chinese companies had publicly disclosed plans to raise $1.4 billion from share sales in New York this […]