News Snapshot:
Bairong latest China tech firm to slump on Hong Kong debut 1 min ago Shares in Chinese fintech firm Bairong plunged on their Hong Kong debut Wednesday, the city’s latest tech listing to disappoint investors. The company raised $507 million in its initial public offering but closed 16 percent lower on its first day trading, in what Bloomberg News said was the worst major debut in Hong Kong in three years. Over the past 18 months Hong Kong has seen a flurry of Chinese tech firms hold IPOs in the city, part of a drive to list closer to home...
