HSBC Holdings, one of the largest banks in the world and a leader in terms of capitalization and asset volume in Europe, intends to list its shares in Shanghai, this listing will be the first for a foreign company in mainland China, the Financial Times reported, citing informed sources. The listing is planned as part of a cross-bidding program on the Shanghai and London stock exchanges. The program is aimed at expanding the access of foreign investors to the PRC market, and trading can begin before the end of this year. For registration of papers in Shanghai, HSBC will have to place Chinese depositary receipts.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
Samsung Electronics’ shares joined TSMC, its competitor, as both extended gains on Tuesday. This was mainly from upbeat expectations that Intel Corp’s plan of outsourcing more chip producers would favor the chipmakers. Shares of ...