Advertisement
Singapore markets close in 3 hours 6 minutes

  • Straits Times Index

    3,284.59
    -3.16 (-0.10%)
     

  • Nikkei

    37,994.70
    +366.22 (+0.97%)
     

  • Hang Seng

    17,702.77
    +418.23 (+2.42%)
     

  • FTSE 100

    8,078.86
    +38.48 (+0.48%)
     

  • Bitcoin USD

    64,488.95
    +211.22 (+0.33%)
     

  • CMC Crypto 200

    1,389.14
    +6.57 (+0.48%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • Dow

    38,085.80
    -375.12 (-0.98%)
     

  • Nasdaq

    15,611.76
    -100.99 (-0.64%)
     

  • Gold

    2,346.10
    +3.60 (+0.15%)
     

  • Crude Oil

    83.94
    +0.37 (+0.44%)
     

  • 10-Yr Bond

    4.7060
    -4.6520 (-49.71%)
     

  • FTSE Bursa Malaysia

    1,573.86
    +4.61 (+0.29%)
     

  • Jakarta Composite Index

    7,115.99
    -39.31 (-0.55%)
     

  • PSE Index

    6,584.55
    +9.67 (+0.15%)
     

Investors Give NetEase’s Hong Kong Debut a Soaring Thumbs Up

Investing.com
·1-min read

By Gina Lee

Investing.com – Chinese internet giant NetEase (HK:9999) received a warm welcome to the Hong Kong market on Thursday, bringing a stellar secondary listing to a close.

Its shares jumped to as high as 10% from the offer price of $135.20 ($17.445) on the first day of trading, before settling at HK$133.10 by 11:53 PM ET (4:53 AM GMT). The first-day gains exceeded Alibaba's (HK:9988)’s record of 6.6% for its homecoming in November 2019.

The company had priced the shares at HK$ 123 earlier in the week.

Meanwhile, JD.com (NASDAQ:JD) will be looking to ride on NetEase’s success as it prepares its own HK$30.1 billion ($3.88 billion) Hong Kong debut. The e-commerce giant priced its offering, set to be one of Hong Kong’s largest IPOS this year, at $226 a share earlier in the day. JD.com shares are set to begin trading on June 18.

ADVERTISEMENT

Related Articles

'Fifty drivers fight for one order': Southeast Asia gig economy slammed by virus

Gold Futures Rally as Powell’s Fed Delivers for Bullion Bulls

Walmart to stop keeping 'multicutural' beauty products in locked display cases