Hong Kong is on track to return to an operating account surplus for the 2025-26 financial year, with the result largely fuelled by a surge in stamp duty income from the city’s robust stock market performance, the finance chief has said. Financial Secretary Paul Chan Mo-po made his prediction of a surplus – set to…
Figma celebrates its initial public offering at the New York Stock Exchange on July 31, 2025. NYSE Figma‘s stock more than tripled in its New York Stock Exchange debut on Thursday, a day after the design software company sold shares at $33 in its initial public offering. The big opening pop is the latest indication…
Dylan Field, co-founder and CEO of Figma, appears at the Bloomberg Technology Summit in San Francisco on May 9, 2024. David Paul Morris | Bloomberg | Getty Images Figma, the developer of design software that was supposed to get acquired by Adobe, priced its IPO on Wednesday at $33 per share, above its expected range….
On a typical weekday in Hong Kong, as a typhoon loomed, customers braved the rain outside a Bakehouse branch in Causeway Bay, waiting to enter the social-media viral bakery, known for its sourdough egg tarts, artisanal breads and fresh pastries. It was a stark contrast to just weeks earlier in June, when Hong Kong’s four-decade-old,…
Thirty-six biotechnology, pharmaceutical and medical device companies sought a capital raise on the Hong Kong Stock Exchange (HKEX) in the first half (H1) of 2025, a review by BioWorld found. Of those, 34 companies were from mainland China. In June alone, 12 Chinese biotechnology, pharmaceutical and med-tech companies filed for a Hong Kong IPO including…
Pedestrians walk past an electronic board showing the Hang Seng Index, in Tsim Sha Tsui, Hong Kong, on Feb 26, 2025. (ANDY CHONG / CHINA DAILY) HONG KONG – Maintaining market trading during extreme weather and other reform measures have made Hong Kong’s financial market more brisk and competitive, Chief Executive John Lee said in…
Hong Kong’s stock market stamp duty income is filling the city’s financial coffers at the fastest pace since 2021, amid a bull run on the local bourse that has attracted scores of initial public offerings (IPOs) and fuelled frenzied trading. Duties from transactions and transfers rose to HK$29.69 billion (US$3.78 billion) in the first five…
AstraZeneca CEO Pascal Soriot, pictured in London on June 28, 2023, reportedly wants to move the company’s stock listing from London to the United States. Justin Tallis | Afp | Getty Images Pressure is piling on London’s stock exchange, with reports that British pharma giant AstraZeneca may move its listing to the U.S. delivering yet…
Mainland China’s three stock exchanges had a sluggish first half, raising a third of the bounty from initial public offerings (IPOs) in Hong Kong, due to a regulatory crackdown that has hobbled fundraising since August 2023 and left the primary market in the lurch. Some 50 companies raised a combined 33.6 billion yuan (US$4.7 billion)…
People walk past a screen displaying the Hang Seng stock index outside Hong Kong Exchanges, in Hong Kong, China July 19, 2022. REUTERS/Lam Yik HONG KONG, June 30 (Reuters Breakingviews) – To divine the fate of Hong Kong’s market, look to two of the year’s biggest offerings: Contemporary Amperex Technology (300750.SZ), opens new tab, the…