The new financial product underscores the flurry of collaborations and accords between Hong Kong and Riyadh since the February 2023 visit by Chief Executive John Lee Ka-chiu to the kingdom.

Chinese regulators are scrutinising old business deals and bank accounts of senior executives as they ramp up inspections of stock-listing hopefuls. No companies have lodged IPO plans in Shanghai and Shenzhen this year.

Hong Kong stocks fell for the second straight day on Wednesday as investors awaited trade data which is expected to show both exports and imports returned to expansion territory in April, following a contraction in the previous month.

Investor sentiment has turned positive after a clutch of global investment banks made positive calls on Chinese stocks amid expectations of more policy support from Beijing.

Hong Kong’s Exchange Fund, the war chest used to defend the local currency, continued its comeback in the first quarter, posting a return of HK$54.3 billion (US$7 billion) as rising overseas stock markets offset losses in domestic equities.

Chinese local government entities have carried the mantle of cornerstone investors in first-time stock offerings in Hong Kong in the past two years as foreign investors shun deals. Their outsize role could work against the city’s capital market, market experts say.

Hong Kong stocks climbed most in three weeks as investors ramped up their buying on expectations that a slew of supportive measures from the Chinese securities watchdog will aid sentiment.

China’s capital market regulators have announced a package of measures to boost liquidity, attract international investors and enhance competitiveness between the mainland and Hong Kong.

Hong Kong stocks fell on Friday as investors were rattled by reports of Israeli missiles hitting Iran, with the heightened Middle East tensions triggering a scramble for safe haven assets.

Hong Kong stocks gains were driven by insurance, banks and casino stocks with some investors saying conditions are right for a substantial rally in Chinese shares.

The erratic performance of Chinese stocks is not giving investors the confidence to commit their funds for the long haul, so some are betting on proxies outside the country, according to top wealth managers.

Debt-laden property developer Times China Holdings is faced with a winding-up petition as it becomes the latest property company creditors are seeking to liquidate.

Hong Kong stocks struck five week lows as consensus-beating GDP data reduced expectations of a rate cut in China, while weak retail, industrial and property data weighed on sentiment.

Chinese tea shop giant Sichuan Baicha Baidao Industrial aims to raise HK$2.5 billion (US$330 million) in a Hong Kong initial public offering, set to be the city’s largest new-share sale of the year, regulatory filings show.

More divestments to come, analyst says, as conglomerate aims to cut debts by US$1.38 billion annually in the next two to three years.

Laura Cha worked hard to elevate Hong Kong’s prominence on the international stage since she became the first and only female chairman of HKEX in 2018. As her tenure draws to a close, she believes that aim is no less important today.

Shanghai-based developer, facing 61.86 billion yuan (US$8.5 billion) in debts, says it needs more time to consider restructuring plan amid slumping sales and slow asset disposal as the property market crisis grinds on.

L’Occitane’s billionaire owner Reinold Geiger and Blackstone are nearing a deal to take the US$5.6 billion skincare company private, people familiar said. The stock is halted in Hong Kong pending an announcement.

First-time stock offerings in Hong Kong are expected to improve after a dismal first quarter, according to Deloitte China. Tighter regulatory oversight could hinder bourses in mainland China.

Companies in Saudi Arabis and Indonesia have shown a genuine interest in Hong Kong’s IPO market, Bonnie Chan Yiting, CEO of Hong Kong Exchanges and Clearing, says at a Legislative Council meeting on Monday.

Stocks pare gains in week as traders continue to dial back bets on a rate cut in June amid concerns about sticky US inflation data. Trading shrinks as markets in mainland China are closed for a holiday.

Lack of interest has more to do with lacklustre IPO activity than the reform per se, which will draw more interest when listings pick up, analysts say.

Alibaba has scrapped the planned Hong Kong IPO for its logistics unit Cainiao, deciding to double down on its investment in the strategically important unit.

High Court issues bankruptcy order against Yu, who is board chairman of delisted Nan Hai Corporation, over his failure to repay investment bank CCB International Overseas.

Has China’s long march to recouping stock market losses begun, after a US$1.75 trillion bounce in value from January lows? Many sentiment indicators have reached inflection points, backstopped by state intervention. Or do market bears still hold sway?

Samsonite is exploring a dual listing plan for its shares, a surprise move that tempered market speculation about a potential offer to take the luggage maker private.

Hong Kong stocks made a firm start after the US Federal Reserve’s dovish outlook brightened the prospects of lower funding costs in the months ahead.