Advertisement
New Zealand markets closed

  • NZX 50

    11,755.17
    +8.59 (+0.07%)
     

  • NZD/USD

    0.6021
    -0.0013 (-0.21%)
     

  • NZD/EUR

    0.5584
    -0.0010 (-0.18%)
     

  • ALL ORDS

    8,022.70
    +28.50 (+0.36%)
     

  • ASX 200

    7,749.00
    +27.40 (+0.35%)
     

  • OIL

    78.20
    -1.06 (-1.34%)
     

  • GOLD

    2,366.90
    +26.60 (+1.14%)
     

  • NASDAQ

    18,161.18
    +47.72 (+0.26%)
     

  • FTSE

    8,433.76
    +52.41 (+0.63%)
     

  • Dow Jones

    39,512.84
    +125.08 (+0.32%)
     

  • DAX

    18,772.85
    +86.25 (+0.46%)
     

  • Hang Seng

    18,963.68
    +425.87 (+2.30%)
     

  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     

  • NZD/JPY

    93.7530
    -0.0150 (-0.02%)
     

Hot Hong Kong IPOs to the Rescue

Shuli Ren, Nisha Gopalan
Hot Hong Kong IPOs to the Rescue

Investors may just have found the reason they need to keep on pushing two of Hong Kong's best-performing blue chips higher. After more than doubling in 2017, shares of Tencent Holdings Ltd. and Ping An Insurance Group Co. have lost momentum. Tencent is valued at 36 times estimated 2018 earnings -- 56 percent more expensive than Facebook Inc. Ping An's Hong Kong stock, meanwhile, is trading at a rare premium to its yuan-denominated shares in Shanghai, a sign of global investors' enthusiasm.

Continue reading