Several Chinese cities have required more frequent nucleic acid testing for Covid since the start of July and tightened other restrictions on residents’ mobility amid recent resurgence.
Haidilao International, China’s largest hotpot restaurant chain, said it has submitted an application to the Hong Kong Stock Exchange for the listing of Super Hi International Holding Ltd, the unit in charge of Haidilao’s catering business outside of Great China.
Shares of Chinese banks are sliding amid growing market concerns after homebuyers in several cities refuse to pay mortgages as the properties they bought were left unfinished.
Hong Kong stocks open slightly higher on Thursday, with the benchmark Hang Seng Index up 0.1%, the Hang Seng China Enterprises Index up 0.23%, the Hang Seng Tech Index up 0.38%.
China’s investment in water conservancy projects surged by nearly 60% on year in the first half, becoming a major driving force of the country’s latest infrastructure push to boost economic growth.
More and more home buyers across several Chinese province refuse to pay mortgages as the properties they bought have been left unfinished amid the liquidity crunch in the real estate sector.
Overseas investors are expected to pour more funds into Chinese equities in the long term via the newly launched ETF Connect, according to Goldman Sachs.
