"Foreign firms are expanding in HK" (OU NÂO...)
jan23 Certainly mainland Chinese companies are now dominant on the Hong Kong Stock Exchange, representing 77 per cent of the market capitalisation of companies listed here, or 93 per cent including Hong Kong domestic listings. Those volumes have risen as US-China tensions have led some US-listed Chinese companies to move here. A new project to expand HKEX’s Stock Connect programme with the mainland stresses the intent to diversify by attracting international companies to Hong Kong, and linking them with the vast sums of retail investor money in mainland China. That may be a tough ask. Few western companies are currently listed in Hong Kong. And those that are are thinly traded. (Glencore is among those that delisted for this reason). Hong Kong’s idea now is to lure a clutch of consumer brands with strong positions in China — from luxury goods makers to German car brands. Prada currently cuts a lonely figure in this segment. The exchange is also keen to draw listings from fast-growing c