Hong Kong is abuzz with the possibility of CATL, the world’s largest electric vehicle battery maker, filing for a secondary listing in the city. This move is anticipated to be the largest stock offering since 2021, signaling a potential revival in market activity. The company aims to raise up to $7 billion, with major banks like JPMorgan, Bank of America, and others leading the deal.
This listing is part of a larger trend of Chinese companies looking to list in Hong Kong this year. The surge in listings could position Hong Kong as a top destination for capital raising after years of limited deal flows. However, some experts caution that it is premature to declare Hong Kong fully back on the map.
In other news today:
Economic data from India regarding CPI inflation figures for January will be released.
Results from SoftBank, Sumitomo Metal Mining, Yamaha Motor Company, and Commonwealth Bank of Australia are expected.
PwC China partners have recently stepped down from their roles following a ban due to their audit of failed property developer Evergrande. This move has led to 66 partners being listed as “no longer partners.”
Israel’s Prime Minister Netanyahu has massed forces around the Gaza Strip and threatened to resume fighting against Hamas if Israeli hostages are not released by midday Saturday.
Russia has released an American teacher in a show of “good faith” to aid talks on ending the war in Ukraine.
President Trump has ordered the Department of Justice to halt the enforcement of a US anti-corruption law, a move with significant implications for tackling corporate misconduct.
In Indonesia, government agencies are cutting costs as part of a $19 billion austerity drive initiated by President Prabowo Subianto to fund various initiatives.
Amidst global trade challenges, Taiwan and TSMC find themselves at the forefront of the storm, facing threats to their business model and national security due to Donald Trump’s policies.
As the world navigates these economic and political uncertainties, it’s crucial to stay informed and engaged with the dynamic landscape of global affairs. Stay tuned for more developments and make informed decisions in these turbulent times.
