The stock connect program allowing Chinese and Hong Kong investors to participate in each others’ stock markets is likely to see RMB160 billion worth of southbound inflows to Hong Kong in 2017, UBS AG says in a research report. Meanwhile, 25 new stock connect mutual funds have been set up during the first eight month […]
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The year of 2020 will be the tipping point for virtual reality (VR), augmented reality (AR) and mixed reality (MR) to capture two thirds of consumers’ leisure time, while the industry will reach US$150 billion by 2022, according to a report issued by BofA Merrill Lynch Global Research. VR/AR/MR is enabling a fourth wave of […]
Chinese online video platform iQiyi has invested RMB150 million (US$23 million) in Coocaa, a smart TV unit owned by consumer electronics producer Hong Kong Skyworth Digital Holdings. In return, iQiyi will acquire a 5% stake in Coocaa, which sold around 1.5 million self branded smart TV sets in 2015. Coocaa will also distribute iQiyi’s content […]
Ant Financial, the financial services affiliate of Alibaba Group Holding Ltd., has acquired EyeVerify Inc. to expand services using the U.S. startup’s biometric authentication technology for securing consumers’ online data and transactions. Ant Financial is reportedly paying US$70 million for the Kansas City, Missouri-based company, which uses pictures of the human eyeball as a way […]
Greater China-focused hedge funds were up 2.20% in August, beating the market while Shanghai Shenzhen CSI 300 Index declined 4.45% during the month, according to date released by hedge fund research firm Eurekahedge. Performance was driven by rising financial stocks, the development surrounding the Shenzhen-Hong Kong Stock Connect program, and better-than-expected earnings report of Chinese […]
Netease Inc. is planning to spin off its news operations and raise around US$300 million via a U.S. initial public offering or a strategic sale, in a move aimed at re-positioning itself as a top online games player, according to media reports citing insiders. The regulatory environment for online news in China has become increasing […]
Growth momentum in China picked up strongly following the flood-induced weakness in July. The combination of post-disaster reconstruction and a continuous flow of fiscal stimulus has supported domestic activity, while exports also improved on the back of new tech-product launch. August activity data improved across the board, as the economy recovered from the temporary dip […]
Chinese online gaming firm Beijing Kunlun Tech Co., Ltd. disclosed yesterday that its chairman Zhou Yahui (pictured) has reached a RMB7.5 billion (US$1.1 billion) divorce agreement with his wife, representing Chinese A-share market’s most expensive split ever. Zhou Yahui is to transfer nearly 300 million Beijing Kunlun Tech shares to his wife Li Qiong. Based […]
Alibaba Group Holding Ltd. has acquired another three million American Depository Shares (ADS) of Weibo Corp from the company’s management team for a total of US$135 million, increasing Alibaba’s stake in the Twitter-like service to 31.5% from 30.1%, according to a Securities and Exchange Commission (SEC) filing. The move could be geared toward further stake […]