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Markets

How full equity buyouts could help China’s cooling bubble tea sector turn a new leaf

Bain Capital’s acquisition of Gong Cha may signal a shift in bubble tea investment strategy, as sector slows after years of rapid expansion Growth of mid to high single digits was now expected for the industry in China, down from the double-digit growth projected in previous years, analysts said. In the latest development, global private investment firm Bain Capital said on August 6 that it had reached a deal to buy Taiwan-founded bubble tea brand Gong Cha Global from US private equity firm TA Associates and other shareholders. Bain Capital would work closely with Gong Cha’s management team and focus on its store expansion in Japan, South Korea and the United States, it said in a statement. Gong Cha operates almost 2,200 stores in 33 markets worldwide. Well-established across the Asia-Pacific region – particularly Japan, South Korea and Australia – the brand is also expanding in the Americas and Europe.

August 25, 2026

Markets

China’s new traffic safety law set to clarify liability for fully automated cars

Beijing could soon hold carmakers legally responsible for traffic violations when autonomous driving systems are in use, marking an important step towards clearing regulatory hurdles to wider commercialisation. The National People’s Congress Standing Committee, China’s top legislative body, is set to review an amended Road Traffic Safety Law on Tuesday. For the first time, the document was set to include a dedicated chapter on governing autonomous vehicles and advanced driving systems, according...

August 25, 2026

Markets

As drug giants grow cautious, can Chinese biotech firms still cash in on licensing deals?

Out-licensing deals have overtaken IPOs as the primary lifeline for cash-starved Chinese drug makers, analysts say Record-breaking cross-border deals helped make some formerly loss-making Chinese biotech companies profitable in the first half of the year, but multinational drugmakers are now signalling plans to tighten deal budgets. Analysts said deals with global partners had overtaken initial public offerings and pre-IPO fundraising as the main funding option for cash-starved Chinese biotech firms wanting to advance the discovery, clinical development and regulatory approval of new drugs. Yet questions remained over whether reliance on overseas licensing income was sustainable in the long run. “Chinese biotech assets remain highly cost-effective relative to global peers,” said Cui Cui, head of healthcare research for Asia at Jefferies, adding that if major pharmaceutical companies became more selective about their expenditures to acquire new drugs, “Chinese biotech assets may look even more attractive”. “This is quite sizeable when compared to the IPO proceeds,” said Tony Ren, head of Asia healthcare research at Macquarie Capital.

August 25, 2026

Markets

Bitcoin tops US$80,000 for first time since May as US moves boost crypto

Washington’s buy-back efforts for US debt, cryptocurrency policy support credited for 25 per cent rally Bitcoin has broken above US$80,000 for the first time in three months, riding a broader rally in alternative assets triggered by Washington’s efforts to tame US bond yields. The world’s largest cryptocurrency traded above US$80,900 on Tuesday, jumping roughly 25 per cent over the past week and signalling an early recovery from a prolonged market slump. Bitcoin’s price hike this week shows characteristics of an early bull market, according to Allen Ding, director of Hong Kong-based Bitfire Research, a unit of Bitfire Group, a Hong Kong-listed crypto asset management firm previously linked to the Chinese crypto exchange Huobi, now known as HTX. Gold also traded at a three-month high of US$4,698 an ounce on Tuesday, extending a 5.1 per cent gain last week.

August 25, 2026

Markets

US Treasury bond buy-back reinforces gold debasement trade as Jackson Hole meeting looms

Treasury buy-backs bolster gold’s rally as investors await US Federal Reserve’s annual meeting at Jackson Hole The US Treasury’s decision to boost its buy-backs of long-maturity bonds is strengthening the debasement trade on gold, as investment banks turn more upbeat on the precious metal before the Federal Reserve’s annual meeting in Jackson Hole. Gold traded at a three-month high of US$4,698 an ounce on Tuesday, extending a 5.1 per cent gain last week after Treasury Secretary Scott Bessent unveiled the repurchase programme, which he said was likely to surpass US$4 billion. The announcement renewed immediate concerns about the fiscal stress on Washington and the erosion of the purchasing power of the US dollar, which benefits gold as an alternative to fiat currencies. Morgan Stanley predicted that gold prices would rise to US$5,000 by 2027, while Citigroup raised the three-month price target for the metal to US$4,800 from US$4,500. Dutch bank ING said that gold might face a risk of further upside throughout the year. A dovish tone by Federal Reserve chair Kevin Warsh at the coming Jackson Hole symposium later this week would add more impetus to bullion, which moves inversely with interest rates.

August 25, 2026

Markets

Hong Kong housing rally faces test as property flippers retreat

Secondary home prices are the highest in three years, but July short-term trading of those held for less than a year was half the level seen in March Hong Kong’s housing rally faces a new test as investors who rode the first-half rebound become less active in quick-turn trades, leaving owner-occupiers and longer-term buyers to sustain the recovery. Secondary home prices have continued to rise, with Centaline’s leading index climbing 0.64 per cent to 162.16 on Friday, its highest level in three years. But the short-term trading that accelerated alongside the rebound has pulled back sharply: transactions involving homes held for less than a year fell to 99 in July, down 24 per cent from June. In March, 202 such transactions were recorded. Despite the decline in transactions, Centaline said the average profit per sale rose almost 10 per cent in July to HK$842,000 (US$107,400), the highest monthly average this year. The divergence points to a market in which the gains from the first leg of the recovery have become harder to repeat through quick trades. “Buyers are resisting chasing higher prices as rate expectations shift,” said Louis Chan Wing-kit, Asia-Pacific vice-chairman and chief executive of Centaline’s residential division.

August 24, 2026

Markets

Kerry Properties targets Hong Kong sites, eyes luxury market as mainland growth slumps

Developer steps up Hong Kong land bids while shifting Mid-Levels rental project to a potential sale to fund new investments The developer said it acquired three residential sites in Hong Kong in the first half, equal to about 235,000 sq ft of gross floor area, and that it would remain active in government land tenders. “If you look at the government land auctions and MTR land tenders in the past few months, we have basically bid for all of them...and we will continue to invest very actively in the future,” said Calvin Tong, director and general manager for Hong Kong at Kerry Properties, during an earnings briefing on Monday for interim first half results. Its gearing ratio fell to 31.3 per cent at the end of June from 33.3 per cent six months earlier, putting the company on track to reduce leverage to about 30 per cent by year-end. The company had planned to hold the flats because of their rare location and views, but “we received quite a lot of inquiries about whether there was an opportunity to sell,” Tong said.

August 24, 2026

Markets

Hang Seng Bank doubles down on wealth hubs despite Beijing’s tighter investment scrutiny

Hong Kong lender says it is expanding its workforce to capture rising demand from high-net-worth clients The Hong Kong lender recently opened a new wealth management centre at Hysan Place in Causeway Bay, its second such facility after launching its first at Harbour City in Tsim Sha Tsui earlier this year. The 6,300 sq ft facility, which includes a sky bar for clients, marks Hang Seng’s first presence in a grade A commercial building on Hong Kong Island, where more than 30 per cent of its “Prestige Banking” customers are based. Hang Seng said it was expanding its workforce alongside its physical network, and planned to increase its relationship managers in general by about 20 per cent this year. The opening of the new wealth centre came amid growing concerns over tighter scrutiny by mainland Chinese tax authorities of residents’ overseas investment income, aided by information exchanged under the Common Reporting Standard (CRS).

August 24, 2026

Markets

Alibaba’s record stock sale adds to Hong Kong tech flood

Alibaba raised HK$80 billion (US$10.2 billion) in a record Hong Kong secondary stock sale as the e-commerce giant pours money into artificial intelligence (AI). Shares were priced at HK$112.70 apiece, an 8.4 per cent discount to Friday’s close, according to a Hong Kong stock exchange filing. The Hangzhou-based company, which owns the South China Morning Post, closed at HK$112.50 on Monday. All of the sale proceeds will support Alibaba’s AI drive, with the company planning to spend more than 380...

August 24, 2026

Markets

Mainland school operator leases Kowloon tower as talent influx drives city’s education boom

The tenant operates top-tier non-tertiary schools in mainland China and is listed on the Hong Kong stock exchange A Hong Kong-listed educational group has completed the largest commercial property leasing deal so far this quarter, as the sector benefits from an influx of immigrant and expatriate families to the city, according to CBRE. The tenant agreed to occupy and transform the entire Tower B at the China Life Centre in Hung Hom, Kowloon into a purpose-built education complex spanning about 36,400 square feet, said Frederick Lai, senior director for capital markets at the property consultancy. “This project showcases the successful repurposing of a commercial asset to support Hong Kong’s expanding education sector,” Lai said. Lai declined to name the tenant, citing a non-disclosure agreement, but said it operated top-tier non-tertiary schools in mainland China and was listed on the Hong Kong stock exchange. “They had been planning to set up a school in Hong Kong for a number of years now and finally they found a perfect opportunity,” Lai added.

August 24, 2026

Markets

Louis Vuitton shuts down another store amid fallout from trademark dispute in China

The latest China store exit in Guiyang highlights the luxury brand’s struggle to balance prestige with cultural empathy amid legal disputes Louis Vuitton will close its only store in Guiyang on August 31, according to an on-site notice, further trimming the French luxury brand’s southwestern China footprint, which has fallen to three stores from a peak of six. It coincides with a string of trademark lawsuits Louis Vuitton has filed in China. In one case, local tea chain Molly Tea was ordered to pay the brand 10.3 million yuan (US$1.5 million) in July over the use of a similar logo. The verdict sparked heated online debate, but also drew public support for the Chinese company.

August 24, 2026

Markets

CATL debuts e-commerce platform for direct sales to small buyers, as competition sharpens

The platform allows for direct online sales to smaller energy storage buyers China’s battery king Contemporary Amperex Technology Limited (CATL) is enabling direct sales to smaller energy storage system makers via its own e-commerce platform, as competition with its domestic peers intensifies. The platform, officially launched on Friday, would offer orders as small as three boxes of its energy storage products, according to a social media post by the firm. CATL is currently the world’s largest producer of lithium-ion batteries for electric vehicles and energy storage systems. The platform, which allows small buyers to skip distributors, was being used by over 1,800 energy storage companies acquired during beta testing, the firm said in the post. The battery giant also said that the small orders would qualify for a five-year quality warranty, the same as it provides for its larger purchasers, and that the delivery period would be within three to five days.

August 24, 2026