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The Latest Breaking News from Hong Kong

Huitongda Network Finds Big Bucks, But Thin Margins, in 'Sunken Market'

Key takeaways: Despite counting Alibaba as its second biggest shareholder, Huitongda’s Hong Kong IPO met with a tepid reception due to concerns about its thin margins Company appears overvalued compared with major competitor Pinduoduo, which spends far more on R&D By Ken Lo

Benzinga

Hong Kong applies to join RCEP trade agreement

Hong Kong has submitted an application to join the 15-member Regional Comprehensive Economic Partnership agreement, a mega trade agreement involving countries such as Thailand, Japan and South Korea, the government said on Wednesday.

Bangkok Post

Grumbling grows as Hong Kong sticks with zero-COVID policy

Hong Kong residents are becoming increasingly annoyed with the administration’s insistence on sticking to Beijing’s zero-COVID strategy as the city posted another record number of new cases

The Independent UK

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Here's Why Alibaba Dumped Its Fundraising Plans

Alibaba Group Holding Ltd (NYSE:BABA) discussed raising at least $1 billion for Lazada before calling off negotiations when talks bogged down over the Southeast Asian online mall's valuation, Bloomberg reports. Alibaba had aimed to secure financing for Lazada ahead of its spinoff and a potential initial public offering. Alibaba ditched the fundraising…

Benzinga

'Kids are broken' with online teaching as Hong Kong upsets parents with early school break

Insurance agent Emily Kwong, 30, is struggling to home-school her five-year-old daughter and is worried she has learned nothing due to Hong Kong's strict COVID-19 restrictions that have forced toddlers and teens into online classes.

Reuters

Hong Kong Covid cases hit record as compulsory testing looms

Hong Kong reported a record 8,674 new Covid-19 infections on Wednesday, as the city prepares for compulsory testing of its residents after authorities extended the toughest social restrictions imposed since the pandemic began.

Evening Standard

Hong Kong unveils $22bn budget as ‘zero COVID’ hammers businesses

Finance chief admits businesses facing ‘intense pressure’ amid restrictions that have shut down much of the city.

Al Jazeera

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Covid live: Poland, Slovakia and Iceland latest countries set to end most coronavirus restrictions — as it happened

Move comes as case numbers and deaths continue to fall in many nations

The Guardian - UK

Is Recovery Already Here? Alibaba Rises In Hong Kong, Alongside JD, Tesla Rival Li Auto And Other Tech Stocks

Shares of U.S.-listed Chinese tech companies traded mostly higher in Hong Kong on Wednesday, lifting the benchmark Hang Seng Index into positive territory.

Benzinga

Hong Kong lawmaker calls for short lockdown to nail outbreak

Hong Kong should impose a strict, city-wide lockdown for nine days to rein in its snowballing COVID-19 outbreak rather than prolong social-distancing restrictions that are strangling business, lawmaker Michael Tien said.

Tribune News Service

Hong Kong to test everyone in territory for COVID three times over

Mass compulsory testing plan to begin in the middle of March, as the territory struggles to get control of Omicron wave.

Al Jazeera

Alibaba (BABA) Shares Under Pressure Again As Concerns Continue To Mount

Shares of Alibaba Group (NYSE: BABA) are trading lower in pre-open Tuesday in the United States on several reports that are being interpreted as headwinds for the e-commerce giant. Alibaba's share price closed 3.05% in the red in Hong Kong on the concerns discussed below.

Benzinga

Lygend Resources Mines Nickel Business to Tempt Investors With Hong Kong IPO

Key takeaways: Lygend Resources has filed for a Hong Kong IPO, hoping to draw investors as demand for its core nickel business booms on demand from EV battery makers Company’s business expansion requires big capital spending, which will remain one of its biggest challenges going forward By Lau Ming

Benzinga

Capvision Tempts Investors With Fast Growth, Fat Margins In Hong Kong IPO

Key Takeaways: ‘Expert network’ operator Capvision Partners has filed for a Hong Kong listing to raise up to $300 million The company boasts fast revenue growth and impressive profit margins, but also faces regulatory risk that was the focus of a U.S. crackdown a decade ago By Doug Young

Benzinga

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Benzinga

Hong Kong Set to Overtake Singapore in SPAC Market, With Help From Mainland Sponsors

Key Takeaways: Hong Kong has received six SPAC listing applications in the last month, even as regional rival Singapore’s similar program starts to turn quiet Most of Hong Kong’s SPAC applicants are backed by mainland Chinese companies, highlighting a major advantage the city enjoys over Singapore By Jony Ho

The Independent UK

Hong Kong orders mandatory COVID-19 tests for all residents

Hong Kong's leader says the city will test its entire population for COVID-19 in March as it grapples with its worst outbreak driven by the omicron variant

Reuters

More patients, fewer nurses: Hong Kong's medical frontline struggles with COVID surge

Yee, a nurse on the frontline of Hong Kong's fight against COVID-19, recently became one of the patients her hospital had to turn away, after isolation wards, and later corridors, became overpacked with people on gurneys.

The Independent UK

Oil prices climb to record highs while global stocks fall on fears of impending Ukraine conflict

Tokyo’s Nikkei 225 index and the Hang Seng in Hong Kong impacted by fears of a Russian invasion

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The Guardian - UK

UK reports 205 new coronavirus-related deaths and 41,130 cases; Ireland to drop most curbs – as it happened

Ireland will drop most restrictions, including mandatory face masks, on Monday

Reuters

Hong Kong to enforce mass testing amid predicted surge in COVID infections

Hong Kong will roll out compulsory testing for COVID-19 starting in mid-March for its 7.4 million residents, leader Carrie Lam said on Tuesday, as university researchers predicted new infections could peak at a staggering 180,000 a day next month.

Edinburgh Live

Travel UK: Covid rules for tourists flying to Canada, Gibraltar and Hong Kong

If you are looking to fly from the United Kingdom to holiday destinations such as Canada, Gibraltar and Hong Kong, we have all the latest covid travel rues you need to know about.

Bangkok Post

Hong Kong pet owner sentenced to community service for putting cat in washing machine

HONG KONG: A woman has been spared jail for trapping her cat in a washing machine as punishment for defecating on her clothes in a Hong Kong flat last year.

The Times of India

Covid-19: Thousands fleeing to China as Hong Kong outbreak widens

HONG KONG: Chinese in Hong Kong are going to great lengths to get back to the mainland as Covid-19 takes hold in the formerly virus-free financial hub, posing a challenge for officials fearful of contagion.

Reuters

Hong Kong maps terms of COVID vaccine pass amid record high cases

Hong Kong will expand its vaccine bubble to include shopping malls and supermarkets, authorities confirmed on Monday, but added there would be exemptions and random inspections in some places, as they battle a new record surge in COVID-19 cases.

Bangkok Post

Hong Kong to set up new anti-epidemic task force to prepare for mass testing

HONG KONG: Hong Kong is mobilising police in the battle against Covid-19 by getting a new anti-epidemic task force under the Security Bureau to prepare for universal testing, the South China Morning Post has learned.

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