Hong Kong could benefit from a wave of listing on the stock market by Chinese companies because of the “less friendly” Washington, as many stocks are coming to the market amid growing tensions between the United States and China. President Donald Trump has said he wants to take action against US-listed Chinese companies that do not meet U.S. accounting standards. In New York last month, the Nasdaq raised demands on Chinese companies looking to list themselves on the stock exchange. The riots have encouraged some Chinese groups to raise capital in Hong Kong, the centre of international finance that is currently at the centre of the Beijing-Washington conflict.
JD, a Chinese Internet company and technology group trading the Nasdaq, could raise billions of dollars in Hong Kong this month. NetEase is another company currently listed in New York and is set to list a secondary bid in Hong Kong on June 11, where it wants to raise about $ 2.7 billion.
The strong demand for cash for purchases on the city’s large stock markets has also resulted in the recent rise of the Hong Kong currency. the territory’s central bank was forced to sell the currency on Thursday to stay in line with the US dollar after hitting the upper limit of the exchange rate.
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