Ke Holdings held its IPO on the NYSE in 2020
Just two weeks after being added to an SEC watchlist which could lead to its shares being delisted by the New York Stock Exchange, Chinese real estate brokerage Ke Holdings has found a new home for its equity, with that story leading our headline roundup today.
Also in the news, e-commerce giant JD.com has now joined Ke Holdings on the same SEC watchlist, and Singapore’s Temasek Holdings says it expects the Chinese economy to recover in the second half of this year, plus more stories from around the region.
Chinese Property Platform KE Holdings To List in Hong Kong
Chinese property platform KE Holdings Inc said on Thursday it would list its shares in Hong Kong without raising capital, as a growing number of U.S.-listed Chinese firms carry out so-called “homecoming” listings.
The New York-listed company, which operates online property platform Beike matching buyers and sellers of real estate, will start trading its stock on the Hong Kong exchange on May 11, it said in regulatory filings. Read more>>
JD.Com Added To Chinese Companies Facing Delisting In U.S.
U.S. regulators added more than 80 companies, including JD.com Inc., Pinduoduo Inc. and Bilibili Inc., to a expanding list of firms that face possible expulsion from American exchanges because of Beijing’s refusal to allow access to the businesses’ financial audits.
The Securities and Exchange Commission on Wednesday put the corporations on a provisional lineup of U.S.-listed Chinese entities that face delisting under a 2020 law, starting a three-year clock to comply with inspection requirements. Some of the largest Chinese companies traded on U.S. exchanges, including China Petroleum & Chemical Corp., JinkoSolar Holding Co. Ltd., NetEase Inc., and NIO Inc. were also added. Read more>>
Temasek Sees China Growth Reviving In Second Half
Singapore’s state-owned investor Temasek Holdings expects Chinese growth to rebound in the second half as the government stimulates the economy, according to chief investment officer Rohit Sipahimalani.
“We are close to the trough, so a very different stage in the cycle,” he told Bloomberg Television. “I would see growth on the rise in the second half of this year as against a decline in the US and Europe.” Read more>>
Yuen Long Project Sells Out as Discounts Attract First-Time Buyers
Almost all available units at The Grand Mayfair I in Yuen Long were sold on Wednesday as buyers continue to snap up projects launched after a three-month lull caused by the fifth wave of Covid-19.
The project, developed by Sino Land, K Wah International and China Overseas Land and Investment, found buyers for 322 of the 327 flats on offer, a company spokeswoman said. It was the second round of sales after the project at Kam Sheung Road Station sold all 388 units on offer last Friday. Read more>>
Hong Kong’s Base Rate Rises By Most In 22 Years
Hong Kong’s cost of money soared by the most in 22 years as the city’s de facto central bank followed the US Federal Reserve to usher in an era of faster, bigger rate increases, even while the local economy is reeling from a slump.
The city’s base lending rate rose by 50 basis points to 1.25 per cent, after the Fed raised its rate by half a point, according to a statement by the Hong Kong Monetary Authority (HKMA). That marked the biggest one-time increase in Fed rates since 2000. Read more>>
KKR, Brookfield Favour Australia as APAC Hotel Investment Recovers
Australia is a favoured destination in Asia Pacific for hotel investment as the economy and tourism recover, say private equity giant KKR and alternative asset manager Brookfield – both of which are looking to make acquisitions in a market where owners have reined in their price expectations.
“Australia is very much leading the pack in Asia. We’ve gone through our COVID situation, and come out at the other end pretty well,” said Colin Zhou, real estate director at KKR, which in October acquired the Sofitel Sydney Wentworth for $315 million from Singapore-listed Frasers Hospitality Trust. Read more>>
Australia’s Lineage Logistics Enters Singapore Market
Lineage Logistics, the world’s largest temperature-controlled industrial REIT has acquired Mandai Link Logistics, marking the Company’s market entry into Singapore. Financial terms of the transaction were not disclosed.
“Mandai established Singapore’s first fully automated cold storage facility and has been long considered a local market leader in the provision of cold storage warehousing and distribution services,” Jeff Hogarth, president Asia Pacific at Lineage, said. Read more>>
Evergrande, Apple Speed Up EV Plans
Both China Evergrande New Energy Vehicle (0708) and Apple are reportedly ramping up their launch of electric cars.
The EV unit of the embattled developer China Evergrande (3333) has started recruiting dealers for its Hengchi 5 electric car in 18 cities across China, including Beijing, Shanghai, Guangzhou and Shenzhen, say reports by mainland media. Read more>>
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