(Bloomberg) — Hong Kong’s boom in initial public offerings is set to be prolonged as companies given a boost by the pandemic outbreak follow China’s technology giants in selling shares, the bourse’s head of listings said.



a person sitting on a bench in front of a body of water: Views of Hong Kong as China Law to Establish 'Red Lines' for the City, Adviser Says


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Views of Hong Kong as China Law to Establish ‘Red Lines’ for the City, Adviser Says

Companies from the technology and biotechnology sectors could continue to fill the IPO pipeline in the near future as Covid-19 has boosted investments in research and development, Hong Kong Exchanges & Clearing Ltd.’s Head of Listing Bonnie Chan said in an interview on Friday.

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“We thought 2020 would be a disappointment, but it has turned out to be a busy year,” Chan, 50, said. “I believe the IPO rush will continue.”

Hong Kong this year has seen a rush of listings from Chinese companies including JD.com Inc. and Netease Inc., which are selling shares in the city to supplement New York listings amid growing tension between the U.S. and China. It’s now soon set to welcome Jack Ma’s fintech giant Ant Group, which is said to plan a $35 billion dual listing in Hong Kong and Shanghai.

Listings in Hong Kong have jumped 33% this year to HK$220 billion ($28.4 billion). In turn, the exchange’s shares have surged 47% so far in 2020.

The bourse anticipates that listings of companies in the retail and consumer industries will also return once the pandemic subsides, said Chan, who leads a team of more than 260 people to approve listings.

Ant, China’s biggest payments company, is waiting for a hearing with the Hong Kong stock exchange on approval for its listing, which was expected to have happened last week. It now faces added uncertainty stemming from a debate in Washington over restrictions on the payments behemoth.

Ant’s

(RTTNews) – The Malaysia stock market has finished lower in back-to-back trading days, sinking almost 25 points or 1.6 percent along the way. The Kuala Lumpur Composite Index now rests just beneath the 1,490-point plateau although it may find traction on Thursday.

The global forecast for the Asian markets suggests a higher open on renewed stimulus hopes, although some of the overbought bourses may see profit taking as the day progresses. The European markets were mixed and the U.S. bourses were firmly higher and the Asian markets figure to split the difference.

The KLCI finished sharply lower on Wednesday following losses from the financials, plantations and rubber glove makers.

For the day, the index dropped 19.91 points or 1.32 percent to finish at the daily low of 1,489.56 after peaking at 1,510.35. Volume was 5.249 billion shares worth 3.608 billion ringgit. There were 636 gainers and 373 decliners.

Among the actives, Petronas Chemicals plummeted 5.00 percent, while Malaysia Airports Holdings plunged 4.14 percent, MISC tanked 2.95 percent, Tenaga Nasional tumbled 2.85 percent, IOI Corporation skidded 2.73 percent, Axiata retreated 2.70 percent, Sime Darby Plantations and IHH Healthcare both declined 2.59 percent, Sime Darby jumped 2.58 percent, Top Glove rallied 1.85 percent, AMMB Holdings surrendered 1.68 percent, Public Bank sank 1.64 percent, PPB Group dropped 1.60 percent, RHB Capital shed 1.54 percent, Maybank lost 1.25 percent, Genting fell 0.94 percent, Dialog Group slid 0.79 percent, Hartalega Holdings dipped 0.71 percent, CIMB Group slipped 0.66 percent, Kuala Lumpur Kepong weakened 0.62 percent, Genting Malaysia was down 0.49 percent, Maxis eased 0.20 percent and Digi.com was unchanged.

The lead from Wall Street is broadly positive as stocks opened higher on Monday and stayed that way throughout the session, offsetting losses from the previous day.

The Dow spiked 530.70 points or 1.91 percent to

(Bloomberg) —

The Tokyo Stock Exchange halted trading for the entire day on Thursday on hardware breakdown, causing the worst breakdown for the world’s third-largest bourse.

Japan Exchange Group Inc., the operator of the TSE, gave no time frame for when trading would resume, and said it would announce plans for tomorrow’s session later. The stoppage means buying and selling in thousands of shares will be frozen on the first day of the new quarter. Previous outages had only affected part of the trading day.

The issue dampens investor sentiment following a positive U.S. stock market performance overnight and closures in other major markets in the region, including China, Hong Kong, South Korea and Taiwan. The shutdown could also have implications on investor confidence in the Japanese markets system.



a clock tower in front of a building: Final Trading Day Of The Year At The Tokyo Stock Exchange


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Final Trading Day Of The Year At The Tokyo Stock Exchange

The Tokyo Stock Exchange (TSE) building in Tokyo.

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Photographer: Kiyoshi Ota/Bloomberg

“This is very problematic — when things like this happen, investor confidence in the Japanese market get impacted,” said Ryuta Otsuka, a strategist at Toyo Securities Co. “It could later weigh on Japanese stocks.”

There were no indications that the outage was related to hacking, the exchange said. The halt prompted a reaction from Chief Cabinet Secretary Katsunobu Kato, the top government spokesman, who said it was “extremely regrettable” that trading opportunities have been restricted.

Confidence Blow

Global markets are on a heightened state of alertness to any glitches, after a cyber attack in New Zealand that spurred trading halts over four days in August.

Other markets in the country, including exchanges in Sapporo, Nagoya, and Fukuoka, have also suspended trading. Derivatives, including futures, trade on the Osaka Exchange, which is not impacted by the system issue. Futures on the Nikkei 225 Stock Average were