Woman jumps off building in Hong Kong, injures man below in suspected suicide
By Danny Mok
A man was injured when a woman who jumped off a building in Hong Kong landed on him in a suspected suicide.
The incident occurred around 2.30pm near Kimberland Centre on Wing Hong Street, close to Yee Kuk West Street in Cheung Sha Wan.
The woman fell onto the man before she hit the ground. A pedestrian immediately called an ambulance, but arriving paramedics confirmed her dead at the scene.
The man, who was delivering an item with a trolley at the time, lost consciousness briefly and sustained head and limb injuries.
He was taken to Princess Margaret Hospital in Kwai Chung for treatment.
Police are investigating the incident.
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By Danny Mok
A man was injured when a woman who jumped off a building in Hong Kong landed on him in a suspected suicide.
The incident occurred around 2.30pm near Kimberland Centre on Wing Hong Street, close to Yee Kuk West Street in Cheung Sha Wan.
The woman fell onto the man before she hit the ground. A pedestrian immediately called an ambulance, but arriving paramedics confirmed her dead at the scene.
The man, who was delivering an item with a trolley at the time, lost consciousness briefly and sustained head and limb injuries.
He was taken to Princess Margaret Hospital in Kwai Chung for treatment.
Police are investigating the incident.
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Counting down to 2025: how to celebrate Hong Kong’s biggest New Year’s Eve event
By Jiang Chuqin
Hong Kong will ring in 2025 with a New Year’s Eve countdown line-up of activities including fireworks, a star-studded concert and dance performances.
Event organiser, the Hong Kong Tourism Board, called the countdown the largest ever in the city.
The Post shares how to make the best of New Year’s Eve, whether you are a regular reveller or watching the fireworks display for the first time.
The celebration, themed “The Symphony of Happiness,” includes four sets of opening fireworks from several prominent buildings, a series of song and dance performances, and a 12-minute fireworks display.
It will kick off at 11pm on New Year’s Eve with a four-segment series of “Shooting Stars” launching every 15 minutes from three buildings on Hong Kong Island.
A giant countdown clock will be displayed on the wall of the Hong Kong Convention and Exhibition Centre in Wan Chai, while revellers can enjoy musicians performing along the Cultural Centre’s viewing deck over in Tsim Sha Tsui.
The 12-minute fireworks show will start at midnight and feature several new elements previously unseen in Hong Kong before.
via SCMP Full Text Feed
By Jiang Chuqin
Hong Kong will ring in 2025 with a New Year’s Eve countdown line-up of activities including fireworks, a star-studded concert and dance performances.
Event organiser, the Hong Kong Tourism Board, called the countdown the largest ever in the city.
The Post shares how to make the best of New Year’s Eve, whether you are a regular reveller or watching the fireworks display for the first time.
The celebration, themed “The Symphony of Happiness,” includes four sets of opening fireworks from several prominent buildings, a series of song and dance performances, and a 12-minute fireworks display.
It will kick off at 11pm on New Year’s Eve with a four-segment series of “Shooting Stars” launching every 15 minutes from three buildings on Hong Kong Island.
A giant countdown clock will be displayed on the wall of the Hong Kong Convention and Exhibition Centre in Wan Chai, while revellers can enjoy musicians performing along the Cultural Centre’s viewing deck over in Tsim Sha Tsui.
The 12-minute fireworks show will start at midnight and feature several new elements previously unseen in Hong Kong before.
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Vietnam’s birth rate slumps to record low despite propaganda push
By Bloomberg
Vietnam’s birth rate has sunk to a record low with the total fertility rate falling to 1.91 children per woman, marking the third consecutive year it has dropped below the replacement level.
The trend is forecast to continue in the next few years. One reason is that the resources invested by central and local governments are insufficient for the population task at hand, according to a post on the health ministry’s website citing Deputy Minister of Health Nguyen Thi Lien Huong.
Like many countries across Asia seeing falling fertility rates, Vietnam is increasingly concerned about the long-term impact of declining births and an aging society.
It has even taken to using dating shows and propaganda posters to help encourage young people to have more babies as changing demographics and financial demands fuel a shift toward people choosing to have smaller families.
Prolonged low birth rates could lead to labor shortages, a rapidly aging population and strains on social security. Vietnam has one of the fastest-aging populations in the world, according to the United Nations Population Fund. People aged 60 and over accounted for 11.9 per cent of the total population in 2019 and this figure will increase to more than 25 per cent by 2050, the UNFPA says.
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By Bloomberg
Vietnam’s birth rate has sunk to a record low with the total fertility rate falling to 1.91 children per woman, marking the third consecutive year it has dropped below the replacement level.
The trend is forecast to continue in the next few years. One reason is that the resources invested by central and local governments are insufficient for the population task at hand, according to a post on the health ministry’s website citing Deputy Minister of Health Nguyen Thi Lien Huong.
Like many countries across Asia seeing falling fertility rates, Vietnam is increasingly concerned about the long-term impact of declining births and an aging society.
It has even taken to using dating shows and propaganda posters to help encourage young people to have more babies as changing demographics and financial demands fuel a shift toward people choosing to have smaller families.
Prolonged low birth rates could lead to labor shortages, a rapidly aging population and strains on social security. Vietnam has one of the fastest-aging populations in the world, according to the United Nations Population Fund. People aged 60 and over accounted for 11.9 per cent of the total population in 2019 and this figure will increase to more than 25 per cent by 2050, the UNFPA says.
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Is Australia taking myopic approach in wooing Pacific nations to counter China?
By Maria Siow
Australia’s recent courtship of several Pacific island nations signals Canberra’s commitment to the region, but it is not expected to gain any lasting benefits from the outreach amid its competition with China over short-term deals, according to analysts.
On December 20, Australian Prime Minister Anthony Albanese said his country would spend A$190 million (US$118 million) over four years to boost the Solomon Islands’ police force and create a police training centre in its capital Honiara.
Albanese and his Solomons counterpart Jeremiah Manele said in a joint statement the package would help the South Pacific nation to build “enduring” security capabilities, “thereby reducing its reliance on external partners over time”.
China’s law enforcement instructors are already based in the Solomons Islands after both countries signed a security pact in 2022, which spurred the United States and Australia to pitch deals to Pacific island nations to limit Beijing’s security ambitions in the region.
Alan Tidwell, director at the Centre for Australian, New Zealand and Pacific Studies at Georgetown University, said Australia has shown its commitment to the Pacific by making pledges to the Solomon Islands, Nauru and Papua New Guinea.
“Canberra’s deals highlight efforts to counter [China] as well as maintain its role as the West’s primary shaper of the region,” Tidwell added.
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By Maria Siow
Australia’s recent courtship of several Pacific island nations signals Canberra’s commitment to the region, but it is not expected to gain any lasting benefits from the outreach amid its competition with China over short-term deals, according to analysts.
On December 20, Australian Prime Minister Anthony Albanese said his country would spend A$190 million (US$118 million) over four years to boost the Solomon Islands’ police force and create a police training centre in its capital Honiara.
Albanese and his Solomons counterpart Jeremiah Manele said in a joint statement the package would help the South Pacific nation to build “enduring” security capabilities, “thereby reducing its reliance on external partners over time”.
China’s law enforcement instructors are already based in the Solomons Islands after both countries signed a security pact in 2022, which spurred the United States and Australia to pitch deals to Pacific island nations to limit Beijing’s security ambitions in the region.
Alan Tidwell, director at the Centre for Australian, New Zealand and Pacific Studies at Georgetown University, said Australia has shown its commitment to the Pacific by making pledges to the Solomon Islands, Nauru and Papua New Guinea.
“Canberra’s deals highlight efforts to counter [China] as well as maintain its role as the West’s primary shaper of the region,” Tidwell added.
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Trump-fuelled bitcoin rally loses steam as year draws to a close
By Bloomberg
The bitcoin rally sparked by Donald Trump’s US presidential election victory in early November is stalling, as 2024 draws to a close.
The digital asset wavered at US$93,085 as of 5:25am on Monday in London, about US$15,000 below the record high set in mid-December.
Smaller tokens like ether and meme-crowd favourite dogecoin also struggled for traction.
Trump’s preference for crypto-friendly regulations and support for the idea of a national bitcoin reserve lifted digital assets. But scaled back expectations for interest-rate cuts by the US Federal Reserve have cooled the speculative frenzy.
More clarity on the US cryptocurrency regime is likely to emerge after Trump assumes power on January 20.
The Republican’s stance contrasts with President Joe Biden’s administration, which cracked down on the scandal-prone sector.
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By Bloomberg
The bitcoin rally sparked by Donald Trump’s US presidential election victory in early November is stalling, as 2024 draws to a close.
The digital asset wavered at US$93,085 as of 5:25am on Monday in London, about US$15,000 below the record high set in mid-December.
Smaller tokens like ether and meme-crowd favourite dogecoin also struggled for traction.
Trump’s preference for crypto-friendly regulations and support for the idea of a national bitcoin reserve lifted digital assets. But scaled back expectations for interest-rate cuts by the US Federal Reserve have cooled the speculative frenzy.
More clarity on the US cryptocurrency regime is likely to emerge after Trump assumes power on January 20.
The Republican’s stance contrasts with President Joe Biden’s administration, which cracked down on the scandal-prone sector.
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China’s cattle farmers, in beef with importers, lobby for trade probe as prices drop
By Mia NulimaimaitiHe Huifeng
China’s beef farmers, struggling with steep losses as domestic prices plunge to an 11-year low, have successfully petitioned for the country to look into what they term a market-distorting surge of inexpensive imports.
An official investigation into shipments of the meat began on Friday after numerous industry associations called for action to guarantee the security of domestic agriculture.
The average wholesale price of beef in China dropped to 59.8 yuan (US$8.19) per kilogram last week, down 16.4 per cent for December year on year. This was the lowest recorded price since September 2013, according to data released by the country’s Ministry of Agriculture and Rural Affairs.
Meanwhile, the retail price of boneless beef fell to 65.5 yuan (US$8.98) per kilogram in November, down 18.6 per cent year on year and reaching its lowest level since October 2018, according to the National Bureau of Statistics.
The China Animal Agriculture Association (CAAA) attributed the slump to a surfeit of imported beef, noting inbound shipments have grown eightfold over the 10 years leading up to 2023.
These imports have surmounted one-third of domestic production in terms of scale, with their proportion of the country’s supply continuing to rise this year.
via SCMP Full Text Feed
By Mia NulimaimaitiHe Huifeng
China’s beef farmers, struggling with steep losses as domestic prices plunge to an 11-year low, have successfully petitioned for the country to look into what they term a market-distorting surge of inexpensive imports.
An official investigation into shipments of the meat began on Friday after numerous industry associations called for action to guarantee the security of domestic agriculture.
The average wholesale price of beef in China dropped to 59.8 yuan (US$8.19) per kilogram last week, down 16.4 per cent for December year on year. This was the lowest recorded price since September 2013, according to data released by the country’s Ministry of Agriculture and Rural Affairs.
Meanwhile, the retail price of boneless beef fell to 65.5 yuan (US$8.98) per kilogram in November, down 18.6 per cent year on year and reaching its lowest level since October 2018, according to the National Bureau of Statistics.
The China Animal Agriculture Association (CAAA) attributed the slump to a surfeit of imported beef, noting inbound shipments have grown eightfold over the 10 years leading up to 2023.
These imports have surmounted one-third of domestic production in terms of scale, with their proportion of the country’s supply continuing to rise this year.
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Hong Kong car owners no longer required to renew vehicle licences annually
By Fiona Chow
Car owners in Hong Kong are no longer required to renew their vehicle licences annually after transport authorities launched a new permit with no expiry date for automobiles that were in their original condition when first registered.
The initiative is part of the Transport Department’s efforts to simplify licence renewal procedures and provide drivers with convenience, following the passage of legislative amendments earlier this month.
Starting Monday, vehicle owners who successfully renewed their licences will start receiving notices from the department issuing the latest validity period of their permits, with no expiry date being printed on it.
“Upon the enhancement of the vehicle licence, vehicle owners do not need to replace the vehicle licences displayed on the windscreen of their vehicles,” the department said.
“If the vehicle particulars such as the registration mark, body colour, etc remain unchanged, the vehicle owner can continue to use the same vehicle licence after each subsequent renewal.”
For car owners who still have not yet applied for a renewal, the department has streamlined the required documents and will remind them to make the application before the permits expire.
via SCMP Full Text Feed
By Fiona Chow
Car owners in Hong Kong are no longer required to renew their vehicle licences annually after transport authorities launched a new permit with no expiry date for automobiles that were in their original condition when first registered.
The initiative is part of the Transport Department’s efforts to simplify licence renewal procedures and provide drivers with convenience, following the passage of legislative amendments earlier this month.
Starting Monday, vehicle owners who successfully renewed their licences will start receiving notices from the department issuing the latest validity period of their permits, with no expiry date being printed on it.
“Upon the enhancement of the vehicle licence, vehicle owners do not need to replace the vehicle licences displayed on the windscreen of their vehicles,” the department said.
“If the vehicle particulars such as the registration mark, body colour, etc remain unchanged, the vehicle owner can continue to use the same vehicle licence after each subsequent renewal.”
For car owners who still have not yet applied for a renewal, the department has streamlined the required documents and will remind them to make the application before the permits expire.
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Hong Kong launches tourism blueprint set to boost economy by HK$120 billion
By Denise Tsang
Hong Kong has rolled out a much-awaited blueprint for tourism, which highlights themes such as pandas, racing, mega-events and smart initiatives as updated strategies expected to boost the economy by HK$120 billion (US$15.5 billion) and create 210,000 jobs in five years.
The blueprint proposes four-pronged development strategies, 16 implementation directions, 59 action plans and 133 measures, with an aim to reinforce the city’s role as an international tourism hub, a zone for multi-destination tourism and an East-meets-West centre.
Upon implementation, the tourism industry could generate HK$120 billion in economic value, after it accounted for 5 per cent of Hong Kong’s gross domestic product in 2018 and 2.6 per cent in 2023.
“Tourism was paralysed during the pandemic. After the pandemic, tourists’ travel patterns have changed, and we have to reform the industry,” Secretary for Culture, Sports and Tourism Rosanna Law Shuk-pui said on Monday.
Following sheer changes over the three years of the pandemic, Chief Executive John Lee Ka-chiu stipulated in his 2023 policy address that the development blueprint, first unveiled in 2017, needed to be updated.
The much-awaited road map was intended to provide up-to-date action plans to push the development ahead in the near, short and long term.
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By Denise Tsang
Hong Kong has rolled out a much-awaited blueprint for tourism, which highlights themes such as pandas, racing, mega-events and smart initiatives as updated strategies expected to boost the economy by HK$120 billion (US$15.5 billion) and create 210,000 jobs in five years.
The blueprint proposes four-pronged development strategies, 16 implementation directions, 59 action plans and 133 measures, with an aim to reinforce the city’s role as an international tourism hub, a zone for multi-destination tourism and an East-meets-West centre.
Upon implementation, the tourism industry could generate HK$120 billion in economic value, after it accounted for 5 per cent of Hong Kong’s gross domestic product in 2018 and 2.6 per cent in 2023.
“Tourism was paralysed during the pandemic. After the pandemic, tourists’ travel patterns have changed, and we have to reform the industry,” Secretary for Culture, Sports and Tourism Rosanna Law Shuk-pui said on Monday.
Following sheer changes over the three years of the pandemic, Chief Executive John Lee Ka-chiu stipulated in his 2023 policy address that the development blueprint, first unveiled in 2017, needed to be updated.
The much-awaited road map was intended to provide up-to-date action plans to push the development ahead in the near, short and long term.
via SCMP Full Text Feed
Global economy must reckon with protectionism in 2025: Hong Kong leader
By Willa Wu
Hong Kong’s leader has said the global economy in 2025 is set to face challenges because of geopolitical tensions and protectionism, while pledging to spearhead efforts in reform and innovation to help the city thrive.
Chief Executive John Lee Ka-chiu on Monday also highlighted the importance of drawing up a medium to long-term development plan to cultivate new industries and grow the city into an international innovation and technology hub.
“Looking forward to 2025, the global economy will continue to face challenges such as geopolitics and protectionism. The government will lead all sectors of Hong Kong society to jointly reform and innovate,” Lee said in a pre-recorded video shown at a financial forum organised by China Central Television.
“I am confident that Hong Kong will scale new heights, as long as society stays united to seize timely opportunities”
The city leader added his administration was actively building an efficient fintech ecosystem and promoting the growth of digital industries.
Lee highlighted the government’s HK$10 billion (US$1.28 billion) I&T Industry-Oriented Fund, which would enhance the city’s tech start-up ecosystem.
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By Willa Wu
Hong Kong’s leader has said the global economy in 2025 is set to face challenges because of geopolitical tensions and protectionism, while pledging to spearhead efforts in reform and innovation to help the city thrive.
Chief Executive John Lee Ka-chiu on Monday also highlighted the importance of drawing up a medium to long-term development plan to cultivate new industries and grow the city into an international innovation and technology hub.
“Looking forward to 2025, the global economy will continue to face challenges such as geopolitics and protectionism. The government will lead all sectors of Hong Kong society to jointly reform and innovate,” Lee said in a pre-recorded video shown at a financial forum organised by China Central Television.
“I am confident that Hong Kong will scale new heights, as long as society stays united to seize timely opportunities”
The city leader added his administration was actively building an efficient fintech ecosystem and promoting the growth of digital industries.
Lee highlighted the government’s HK$10 billion (US$1.28 billion) I&T Industry-Oriented Fund, which would enhance the city’s tech start-up ecosystem.
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China Future Tech webinar | Chinese carmakers in a changing landscape
By SCMP
Bookmark this article and join the live stream on Thursday, January 9, at 10.30am HKT
Chinese makers of electric vehicles had an eventful 2024, marked by new production and sales records as well as fierce competition that left some upstarts by the wayside and few EV manufacturers with profits to match their industriousness.
Since July, the EV penetration rate has exceeded 50 per cent in China, buttressed by government consumption subsidies. Meanwhile, as domestic EV sales rise, some foreign carmakers are facing an existential challenge in China, which has been responsible for a significant proportion of their global sales over the past couple of decades.
Meanwhile, Chinese EV exports weakened in 2024 as the European Union, the United States and Canada all erected significant tariff barriers to EVs that are made in China.
South China Morning Post Shanghai bureau chief Daniel Ren recently summarised some of these trends in a China Future Tech industry briefing (exclusively for SCMP Plus subscribers – click here for a free trial), and he’ll take part in a panel moderated by SCMP Plus editor Jacques van Wersch.
Join Jacques, Daniel, SCMP technology editor Zhou Xin as well as special guest Paul Gong, UBS head of China Autos Research, for a discussion of the following topics, among others:
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By SCMP
Bookmark this article and join the live stream on Thursday, January 9, at 10.30am HKT
Chinese makers of electric vehicles had an eventful 2024, marked by new production and sales records as well as fierce competition that left some upstarts by the wayside and few EV manufacturers with profits to match their industriousness.
Since July, the EV penetration rate has exceeded 50 per cent in China, buttressed by government consumption subsidies. Meanwhile, as domestic EV sales rise, some foreign carmakers are facing an existential challenge in China, which has been responsible for a significant proportion of their global sales over the past couple of decades.
Meanwhile, Chinese EV exports weakened in 2024 as the European Union, the United States and Canada all erected significant tariff barriers to EVs that are made in China.
South China Morning Post Shanghai bureau chief Daniel Ren recently summarised some of these trends in a China Future Tech industry briefing (exclusively for SCMP Plus subscribers – click here for a free trial), and he’ll take part in a panel moderated by SCMP Plus editor Jacques van Wersch.
Join Jacques, Daniel, SCMP technology editor Zhou Xin as well as special guest Paul Gong, UBS head of China Autos Research, for a discussion of the following topics, among others:
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By Associated Press
A fire broke out at a hotel near Bangkok’s Khao San Road, a popular tourist destination, killing three foreigners and injuring several other people, Thai police said on Monday.
The three who died in the fire on Sunday night were all foreign tourists, said Police Colonel Sanong Saengmanee. One was found dead at the scene, and the other two died after being transported to the hospital.
The fire erupted on the 5th floor of the six-storey Ember Hotel, police said. Khao San Road is a popular backpacker street in the Thai capital that’s also known for its lively nightlife.
The flames were eventually contained and the cause of the blaze is under investigation.
Seventy-five people were staying at the hotel at the time of the fire. Seven people were injured, including two Thai nationals and five foreigners.A tourist watches the scene after a blaze at The Ember Hotel in Bangkok. Photo: EPA-EFE
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Hong Kong logs 98,000 mainland Chinese visitors during pre-New Year’s Eve travel
By Lo Hoi-ying
Hong Kong welcomed more than 98,000 visitors from mainland China on Sunday, a 16 per cent increase year on year, while one bus operator expected a spike in demand for overnight cross-border services on New Year’s Eve.
On Sunday, 98,912 mainland residents arrived in the city, up from the 84,821 on the same day last year, according to official data released on Monday. The border crossing at the Lok Ma Chau spur line recorded the biggest increase in visitors, accounting for 6,000 out of the more than 14,000.
Paul Tse Wai-chun, deputy chief operating officer of Eternal East Cross-Border Coach Management, estimated on Monday that demand for cross-border bus services on January 1 would increase by about 10 to 15 per cent after the multi-entry scheme was revived earlier this month.
The resumption of the multi-entry scheme allows Shenzhen residents to make unlimited trips to Hong Kong within a year, with each stay capped at seven days.
Tse’s company operates direct cross-border bus services from the West Kowloon Cultural District to Shenzhen Bay.
He expected between 30 and 40 trips from midnight to 6am on Wednesday, with the peak hour for border-crossing by bus to be between 1.30am and 2.30am after MTR services had ended.
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By Lo Hoi-ying
Hong Kong welcomed more than 98,000 visitors from mainland China on Sunday, a 16 per cent increase year on year, while one bus operator expected a spike in demand for overnight cross-border services on New Year’s Eve.
On Sunday, 98,912 mainland residents arrived in the city, up from the 84,821 on the same day last year, according to official data released on Monday. The border crossing at the Lok Ma Chau spur line recorded the biggest increase in visitors, accounting for 6,000 out of the more than 14,000.
Paul Tse Wai-chun, deputy chief operating officer of Eternal East Cross-Border Coach Management, estimated on Monday that demand for cross-border bus services on January 1 would increase by about 10 to 15 per cent after the multi-entry scheme was revived earlier this month.
The resumption of the multi-entry scheme allows Shenzhen residents to make unlimited trips to Hong Kong within a year, with each stay capped at seven days.
Tse’s company operates direct cross-border bus services from the West Kowloon Cultural District to Shenzhen Bay.
He expected between 30 and 40 trips from midnight to 6am on Wednesday, with the peak hour for border-crossing by bus to be between 1.30am and 2.30am after MTR services had ended.
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Malaysia’s Pas and Umno to press for Najib’s release into house arrest
By Hadi Azmi
Najib Razak’s house arrest saga has pulled political rivals Umno and main opposition party Pas closer, after the parties vowed to rally next week in solidarity with the jailed former prime minister, whose quickest route to release into house arrest appears to have been blocked.
Najib, 71, has taken the Malaysian government to court accusing it of hiding a decree by Sultan Abdullah, Malaysia’s former king, granting him the right to serve the remainder of his prison sentence for corruption linked to the 1MDB scandal at home.
But rumours of an early release for Najib, whose 12-year jail term has already been halved, have outraged his critics, who say Malaysians are still picking up the bill caused by the multibillion-dollar fraud at the sovereign fund, established by the former prime minister.
On Saturday, Malaysia’s current king, Sultan Ibrahim, said Najib’s purported house arrest order was not correctly executed.
In a statement issued on behalf of Sultan Ibrahim, the Attorney General’s Chamber said while the power to pardon was the sole discretion of the monarch, it must be done through the Pardons Board “and not through any other channels”.
But Najib’s power base within Umno, a member of the government coalition, has refused to give up on its bid to release its former party president.
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By Hadi Azmi
Najib Razak’s house arrest saga has pulled political rivals Umno and main opposition party Pas closer, after the parties vowed to rally next week in solidarity with the jailed former prime minister, whose quickest route to release into house arrest appears to have been blocked.
Najib, 71, has taken the Malaysian government to court accusing it of hiding a decree by Sultan Abdullah, Malaysia’s former king, granting him the right to serve the remainder of his prison sentence for corruption linked to the 1MDB scandal at home.
But rumours of an early release for Najib, whose 12-year jail term has already been halved, have outraged his critics, who say Malaysians are still picking up the bill caused by the multibillion-dollar fraud at the sovereign fund, established by the former prime minister.
On Saturday, Malaysia’s current king, Sultan Ibrahim, said Najib’s purported house arrest order was not correctly executed.
In a statement issued on behalf of Sultan Ibrahim, the Attorney General’s Chamber said while the power to pardon was the sole discretion of the monarch, it must be done through the Pardons Board “and not through any other channels”.
But Najib’s power base within Umno, a member of the government coalition, has refused to give up on its bid to release its former party president.
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Hong Kong’s stock market marks busiest trading day in 6 months with three IPO debuts
By Aileen Chuang
Hong Kong saw its busiest day for initial public offerings (IPO) in nearly six months, with three companies making their trading debuts and three other firms building books.
After the noon break on Monday, InnoScience Technology, a producer of semiconductor materials, rose 2.1 per cent to HK$31.50 from its listing price of HK$30.86. It raised HK$1.4 billion (US$180.4 million) via its IPO.
Xunfei Healthcare Technology, which operates medical information platforms, advanced 6.9 per cent to HK$88.55 from its listing price; it raised HK$582.54 million from its IPO. HealthyWay, a digital health and medical services platform, surged 30.8 per cent to HK$10.20 after raising HK$195 million.
Baidu-backed HealthyWay was the best performer among Hong Kong retail investors for Monday’s listings. It attracted 34.42 times the number of shares allocated to retail investors, while Xunfei Healthcare garnered 3.66 times and InnoScience 2.87 times.
The last time the Hong Kong exchange had three listings on the same day was on July 10.
Among the book builders, Chinese lender Yibin City Commercial Bank seeks to raise up to HK$1.87 billion with its global offering, which was unveiled on Monday. BrainAurora Medical Technology, a provider of medical diagnostics and digital therapies, is seeking HK$583.18 million, while Numans Health Food Holdings is looking to raise HK$272.50 million.
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By Aileen Chuang
Hong Kong saw its busiest day for initial public offerings (IPO) in nearly six months, with three companies making their trading debuts and three other firms building books.
After the noon break on Monday, InnoScience Technology, a producer of semiconductor materials, rose 2.1 per cent to HK$31.50 from its listing price of HK$30.86. It raised HK$1.4 billion (US$180.4 million) via its IPO.
Xunfei Healthcare Technology, which operates medical information platforms, advanced 6.9 per cent to HK$88.55 from its listing price; it raised HK$582.54 million from its IPO. HealthyWay, a digital health and medical services platform, surged 30.8 per cent to HK$10.20 after raising HK$195 million.
Baidu-backed HealthyWay was the best performer among Hong Kong retail investors for Monday’s listings. It attracted 34.42 times the number of shares allocated to retail investors, while Xunfei Healthcare garnered 3.66 times and InnoScience 2.87 times.
The last time the Hong Kong exchange had three listings on the same day was on July 10.
Among the book builders, Chinese lender Yibin City Commercial Bank seeks to raise up to HK$1.87 billion with its global offering, which was unveiled on Monday. BrainAurora Medical Technology, a provider of medical diagnostics and digital therapies, is seeking HK$583.18 million, while Numans Health Food Holdings is looking to raise HK$272.50 million.
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Cambricon, China’s AI chip star, soars 383% amid push for self-sufficiency
By Bloomberg
China’s top-performing stock of 2024 is expected to see additional tailwinds into next year from the nation’s drive for greater self-sufficiency in artificial intelligence (AI).
Shares of AI chip designer Cambricon Technologies have climbed 383 per cent this year, topping the benchmark CSI 300 Index and driving its market value to US$37 billion. The Shanghai-listed stock has even outpaced global AI chip leaders Nvidia and Taiwan Semiconductor Manufacturing.
Cambricon has climbed on investor enthusiasm over China’s stepped up support for the local tech industry in the face of US trade restrictions. The stock may also benefit from its addition this month to the Shanghai Stock Exchange 50 Index, as funds tracking the large-cap gauge add shares.
“The localisation of AI chips has become a big trend,” according to Minsheng Securities. Top domestic manufacturers like Huawei Technologies and Cambricon “continue to catch up with overseas leaders” in terms of product capabilities, the firm’s analysts wrote in a note.
Beijing-based Cambricon was founded in 2016 and is still making losses. Demand has surged, however, with sales jumping more than 280 per cent in the third quarter compared with the year-ago period. Growth looks poised to continue.
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By Bloomberg
China’s top-performing stock of 2024 is expected to see additional tailwinds into next year from the nation’s drive for greater self-sufficiency in artificial intelligence (AI).
Shares of AI chip designer Cambricon Technologies have climbed 383 per cent this year, topping the benchmark CSI 300 Index and driving its market value to US$37 billion. The Shanghai-listed stock has even outpaced global AI chip leaders Nvidia and Taiwan Semiconductor Manufacturing.
Cambricon has climbed on investor enthusiasm over China’s stepped up support for the local tech industry in the face of US trade restrictions. The stock may also benefit from its addition this month to the Shanghai Stock Exchange 50 Index, as funds tracking the large-cap gauge add shares.
“The localisation of AI chips has become a big trend,” according to Minsheng Securities. Top domestic manufacturers like Huawei Technologies and Cambricon “continue to catch up with overseas leaders” in terms of product capabilities, the firm’s analysts wrote in a note.
Beijing-based Cambricon was founded in 2016 and is still making losses. Demand has surged, however, with sales jumping more than 280 per cent in the third quarter compared with the year-ago period. Growth looks poised to continue.
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