Skip to content
(Bloomberg) -- HSBC Holdings Plc rose the most in Hong Kong trading since 2009 as its biggest shareholder raised its stake in the embattled lender which last week hit the lowest in quarter of a century.A unit of Ping An Insurance Group Co. revealed in an exchange filing that it last week bought 10.8 million shares of HSBC, bringing its stake to 8% and cementing its place as the largest shareholder. Ping An purchased the shares at an average HK$28.2859 apiece.HSBC shares on Monday rose as much as 8.5%, the biggest intraday gain since April 2009, clawing back some of last week’s 8.9% loss. They were up 7.98% to HK$30.45 as of 11:43 a.m. in Hong Kong.The bank had plunged to 25-year low in part on speculation a massive bet on China could be thwarted. The ruling Communist Party’s Global Times newspaper reported that the bank could be put on an...
Big Hit Entertainment, the management label of hugely popular South Korean K-Pop group BTS, priced its initial public offering (IPO) at the top of its range on Monday, as hopeful buyers chased South Korea's largest listing in three years. Institutional investors expressed interest in more than 1,000 times the number of shares on offer, with Big Hit riding on the success of the seven-member band, which has become the first South Korean group to reach No.1 on the U.S. Billboard Hot 100 singles chart with song "Dynamite". Big Hit priced the IPO at 135,000 won ($115) per share, it said in a regulatory filing, the top of an indicative price range of 105,000-135,000 won announced earlier this month....
Sep.27 -- President Donald Trump called for Democratic presidential nominee Joe Biden to take a drug test before Tuesday’s presidential debate. He speaks at a news briefing at the White House....
Riskier assets find support early on. There are no material stats to influence today, however, leaving COVID-19 and geopolitics in focus....
Sep.27 -- Alexious Lee, head of China strategy research at Jefferies, discusses Chinese markets and his investment strategy. He speaks on “Bloomberg Markets: China Open.”...
(Bloomberg) -- Semiconductor Manufacturing International Corp. retreated to a four-month low in Hong Kong after the U.S. imposed export restrictions on China’s largest chipmaker.The shares slumped as much as 7.9% on Monday, adding to their 25% loss for the month. Also listed in Shanghai, SMIC’s stock there retreated as much as 5.8% to the lowest level since its July debut. U.S. firms must now apply for a license to export certain products to the chipmaker, the Commerce Dept. said in a letter dated Sept. 25, reviewed by Bloomberg News. SMIC and its subsidiaries present “an unacceptable risk of diversion to a military end use,” the department’s Bureau of Industry and Security wrote.Read more: U.S. Imposes Restrictions on Exports to China’s Top ChipmakerThe U.S. stopped short of placing SMIC on the so-called entity list, which means the restrictions are not yet as severe as those imposed on China’s Huawei Technologies Co. Still,...
