Dai Ming News Today

Chabaidao’s stock ended the day 27 per cent lower after slumping as much as 38 per cent. It raised about HK$2.6 billion (US$331.7 million) from the sale of 147.8 million shares at HK$17.50 each.

China’s stockbrokers took another pay cut in 2023 as the double whammy of a slumping equities market and a government crackdown on corporate extravagance eroded the incomes of financial workers. Things don’t look much better this year, one fund manager says.

The People’s Bank of China announced on Saturday that Alipay.com Co has no controller, paving the way for owner Ant Group’s IPO.

Initial public offerings (IPO) volumes at the Beijing Stock Exchange (BSE) have suffered the least after authorities restricted new share sales on the three mainland bourses this year, reflecting investors confidence in government support for the country’s newest and best performing equity market.

Dual-listed Chinese companies traditionally command higher valuations for their shares on domestic exchanges than their own shares listed in Hong Kong. That premium, currently close to the highest in 13 months, is expected to widen next year on policy tailwinds, analysts said.

China’s stocks are heading for an unprecedented third straight year of losses amid a slew of setbacks ranging from flopped reopening trade to faltering growth and unprecedented foreign outflows.

Stocks in Hong Kong log the biggest gain in five weeks on the back of China’s measures to shore up market confidence. China Evergrande, however, slumps upon resumption of trading.

Kweichow Moutai is China’s, and the world’s, most valuable alcohol company by market capitalisation, and is expected to surpass the value of any mainland-traded company ever.

The shareholders of Ant Group agreed to remove Ma’s voting control of the firm and “independently exercise their voting rights”

Your View: The author reflects on his various meetings and near meetings with famous people.