News Snapshot:
“Hong Kong’s mom-and-pop investors have amassed over US$50 billion in margin financing to buy shares in the initial public offering of China’s Kuaishou , defying concerns about a pullback in global markets fueled by a retail buying frenzy,” Reuters reported. The online video app is looking to price shares at the HK$105 to HK$115 range, two sources said, as the company aims to raise up to US$5.4 billion in its IPO. According to representatives from HSBC and the Bank of China (Hong Kong), demand for margin loans to purchase Kuaishou stock hit a first-day record on January 26. The two...
