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Stocks

Stocks
Stock market action from around the world, with a focus on Hong Kong, China and the rest of Asia.
The Hong Kong-listed biotech company rose as much as 29 per cent after rejecting suggestions by US lawmakers it poses a national security risk. Photo: Getty Images
Hong Kong stock market

Chinese biotech GenScript surges as it rebuffs US lawmakers’ allegations

The Hong Kong-listed biotech company rose as much as 29 per cent after rejecting suggestions it poses a national security risk.

IPO

Why Hong Kong is now the launch pad for mainland China’s AI champions

Artificial intelligence

Tencent shares jump 10% on expectations of AI agent within WeChat

IPO

Editorial | SpaceX IPO lift-off could test global equity bull run

Set to be the largest stock debut in history, the SpaceX initial public offering could indicate the depth of investor confidence in the AI boom.

A SpaceX Super Heavy booster carrying the Starship spacecraft lifts off on its 12th test flight at Starbase, Texas, on May 22. Photo: Reuters
Robotics

Unitree clears Shanghai IPO hurdle as China’s humanoid robot wave gathers pace

Listing plan highlights Unitree’s push to invest more in robot ‘brains’ as it joins competitors in China’s humanoid rush.

China stock market

China index reshuffle to entrench tech trades and boost AI rally: brokerages

Shanghai exchange revamp lifts tech weighting and adds chipmakers, signalling policy support and investor confidence.

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China property

China’s property market shows more positive signs with price, sales upticks

Sector has ‘weathered its most severe adjustment’, with overall market sentiment ‘turning noticeably positive’, analyst says.

A view of residential buildings in Shanghai on March 17, 2026. Photo: NurPhoto via Getty Images
Hong Kong economy

Open Questions | Hong Kong must embrace ‘bipolar’ role to thrive in its ‘Stage 3.0’: Charles Li

Veteran deal maker urges an IPO link to lure global resource giants and turn Chinese buyers into owners as city solidifies role as East-West bridge and global capital hub.

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IPO

AI firm MiniMax prepares for mainland China listing after Hong Kong shares surge

Chinese AI model company hires Citic Securities to prepare a mainland share sale, with the listing venue yet to be confirmed.

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Banking & finance

Macroscope | Why bond yields are going up everywhere

Unlike stock markets, bond markets are signalling a more cognisant and mature appreciation of the state of government finances.

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A woman walks past anti-US graffiti painted on the wall of Tehran University in Iran, on April 25. The war has pushed up inflation and added to the financial burden of already highly indebted countries. Photo: AP
Chinese offshore investment

Going global? Here’s a quick look at 4 options for China’s offshore investors

As Beijing tightens its grip on unlicensed stock platforms, mainland China’s retail players utilise these state-sanctioned options to diversify globally.

Mainland China’s retail investors have four primary legal avenues to diversify their portfolios overseas. Photo: Shutterstock
HKEX

As Hong Kong stock exchange turns 40, can the chip supercycle keep IPOs flowing?

US$6.1 trillion exchange marks its 40th year amid fierce global competition, as brokers see challenges sparking opportunities.

Hong Kong stock market

Lenovo’s status as Hang Seng Index top performer validates AI push

Chinese firm’s 159 per cent gain fuelled by optimism about its evolution from a PC-led hardware company to a hybrid AI platform.

Biomedicine: Companies

China’s Innovent Biologics signs US$10.5b Pfizer deal for 12 cancer drug trials

The agreement covers eight early-stage trials from Innovent and four discovery programmes from global giant Pfizer.

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A researcher uses a microscope in a cancer research laboratory. Photo: Shutterstock
Artificial intelligence

Macroscope | Why commodities could be the next big thing in markets

Investors’ desire for firms with ‘heavy assets, low obsolescence’ has turned the spotlight on commodities, a sector starved of capital.

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The Jeffrey Energy Centre coal-fired power plant is seen at sunset near Emmett, Kansas, on January 3. Investors’ appetite for asset-heavy alternatives to tech stocks has helped the energy sector perform nearly as well as tech in the past year. Photo: AP
China stock market

China’s brokerage crackdown: banks cut forecasts for Futu, Tiger

CCB and Goldman Sachs slash brokerage valuations, profit forecasts after regulatory action on unauthorised cross-border trading.

Hong Kong stock market

Appeal of China assets keeps rising among global investors: JPMorgan

Cohort of international investors considering investing in China rises to 57 per cent from 51 per cent a year ago, survey says.

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Banking & finance

Editorial | Cross-border crackdown part of keeping China’s capital market stable

The penalties handed out to leading brokerages are harsh, but Beijing must show it means business as it cleans up China’s capital market.

The Tiger Brokers mobile app shown on a phone. Photo: SCMP
Banking & finance

Hong Kong beats Switzerland as world’s largest offshore wealth hub, BCG finds

City tops cross-border wealth on IPO surge and mainland China inflows, as Singapore and US trail in consultancy’s global rankings.

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China stock market

BOE Tech’s 30% rally shows how AI buildout can boost an old-economy firm

Chinese maker of LCD displays sees a surge in its share price following an attempt to diversify into AI with US manufacturer Corning.

Mainland China

China online brokerage crackdown trims billionaire owner’s wealth

Futu Holdings’ Leaf Li’s fortune shrank by over a quarter after Chinese regulators launched action against illegal cross-border stocks trading.

Futu Holdings founder and chairman Leaf Li. Photo: SCMP
China stock market

Unitree’s IPO progress spurs stock buying of firms with exposure to robot maker

As the robot manufacturer moves a step closer to its IPO, stocks of its investors and supply chain makers have shot up.

An electronic board shows stock prices below a pedestrian bridge in the Lujiazui financial district in Shanghai. Photo: Reuters
Artificial intelligence

As China’s humanoid-robot hype cools, Unitree sees profit plunge

A filing shows adjusted profit fell 53 per cent, even as revenue continued to rise, highlighting tough competition in humanoid robot sector.

Hong Kong stock market

US$32b worth of Hong Kong assets involved in transborder trade crackdown: Citic

The assets involve a crackdown on Futu, Tiger Brokers and Long Bridge for offering mainland Chinese investors access to unlicensed trading.

Hong Kong stock market

Hang Seng Index review to boost market capitalisation by 4.5%: analysts

Tencent, BeOne Medicines, Baidu and NetEase may lure fund inflows between US$200 million and US$1 billion, due to index weighting changes.

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Hong Kong regional flag, Chinese flag and HKEX flag fly outside the Exchange Square in Central. Photo: Yik Yeung-man
IPO

How Hong Kong investors can gain exposure to SpaceX’s record-breaking US$75b IPO

Options for potential exposure include brokerages offering access to US stocks, buying into SpaceX’s partners, and exchange-traded funds.

The SpaceX logo displayed at the Kennedy Space Center in Cape Canaveral, Florida. Photo: AP
China stock market

China’s property developers seek semiconductor salvation with chip side-hustles

Unprofitable real estate firms see shares soar after buying into silicon assets, and analysts weigh whether it is a safe bet or banking on a big bailout.

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Banking & finance

Opinion | Investors in AI-driven bubble risk forgetting painful lessons

AI-driven stock market hype is not independent of what is happening in the rest of the economy.

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