|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||12.78 - 12.86|
|52 Week Range||11.38 - 16.00|
|Beta (5Y Monthly)||0.97|
|PE Ratio (TTM)||5.84|
|Forward Dividend & Yield||0.32 (2.51%)|
|Ex-Dividend Date||Mar 10, 2020|
|1y Target Est||14.90|
(Bloomberg) -- One of Hong Kong’s most popular investment strategies -- borrow big and plow the money into a red-hot share sale -- is starting to work, just as the city prepares to host a flurry of Chinese listings.NetEase Inc. jumped as much as 9.9% in Hong Kong Thursday, on track to deliver the city’s best trading debut in more than a year for companies with a fund raising size of more than $1 billion. The retail portion of its share sale was more than 130 times oversubscribed, as mom-and-pop traders clamoured to get a piece of the Chinese gaming company. JD.com Inc.’s planned $3.9 billion share sale, which would be the world’s second-largest of the year, is also oversubscribed. China Bohai Bank Co. is planning to launch its own $2 billion offering.Such listings are reviving interest in Hong Kong’s market, boosting inflows and helping strengthen the local dollar at a time when the passing of a national security law has raised concerns about the city’s status as a financial hub. Tensions between Washington and Beijing have threatened to curtail Chinese companies’ access to U.S. capital markets, making such secondary listings closer to home more appealing.“Introducing another technology giant to Hong Kong is definitely good for market sentiment,” said Banny Lam, managing director at CEB International Corp. “It will help Hong Kong to attract more longer-term investors and demand for future listings like JD.com will be boosted since the investment now looks very profitable.”Trading as high as HK$135.2 ($17.4) per share in Hong Kong at their highest intraday level, NetEase shares were valued at about a 3% premium to those listed on the Nasdaq -- which are near a record high. One U.S. share is equivalent to 25 Hong Kong stocks. Alibaba Group Holding Ltd. rose 6.6% on its Hong Kong debut.The prospect of NetEase potentially joining the benchmark Hang Seng Index is also helping buoy investors’ confidence, Lam said. The company’s market cap exceeds that of 39 firms on the 50-member gauge, including the likes of CNOOC Ltd. and Sun Hung Kai Properties Ltd., according to data compiled by Bloomberg.The technology sector saw strong gains on Thursday. Shopping platform Meituan Dianping added 4.1% to hit a record high, while Tencent Holdings Ltd. rose to its highest since March 2018.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). To keep it practical, we'll...
Moody's Investors Service has assigned an A1 rating to the proposed USD senior unsecured notes due 2030 to be issued by Sun Hung Kai Properties (Capital Market) Ltd. under its USD7 billion medium-term note (MTN) program, rated (P)A1. The notes will be unconditionally and irrevocably guaranteed by Sun Hung Kai Properties Limited (SHKP). "The A1 rating reflects SHKP's solid business and financial profile, which is supported by its strong recurring rental income, high financial flexibility, leadership position and long operating track record in the Hong Kong property market, as well as prudent financial management," says Stephanie Lau, a Moody's Vice President and Senior Analyst and the Lead Analyst for SHKP.