HKEx weighs expanding HK stocks

    HONG KONG Exchanges and Clearing Ltd. is considering expanding the number of Hong Kong stocks mainland investors will be able to buy as part of the Hong Kong-Shanghai stock connect program, chief executive Charles Li told reporters at a briefing Tuesday.

    The expansion of Hong Kong stocks that mainland investors could buy under the program would offer them an additional incentive to invest, in return for the expected opening of the Shenzhen Stock Exchange to Hong Kong investors later this year. “We will likely enhance the underlying eligible stocks in southbound,” Li said, referring to Hong Kong stocks that mainland investors can buy.

    Singapore Exchange expands in China

    SINGAPORE Exchange Ltd., which has been struggling to attract large initial public offerings (IPOs), said it is expanding further into China and appointed its listings chief to a new position as the head of its China business.

    SGX said in a statement yesterday that Lawrence Wong will relocate to China and continue to head the listings business. The exchange has established a wholly foreign-owned enterprise in China and will set up branches in Shanghai and Beijing, in addition to its current representative office in Beijing.

    Shenhua Energy coal sales down 12.4%

    CHINA Shenhua Energy Co.’s coal sales in 2014 fell 12.4 percent from a year earlier to 451.1 million tons because of slowing demand and production cuts, the company said Tuesday.

    China’s biggest listed coal producer, which is a vehicle of State-owned Shenhua Group, said 2014 preliminary net profits fell 19.8 percent from a year earlier to 36.6 billion yuan (US$5.9 billion).

    ANTA Sports profit surges 29%

    ANTA Sports Products Ltd. said yesterday its 2014 net profit jumped nearly a third on growth in children’s lines and e-commerce, as Chinese sports brands begin to bounce back from years of industry-wide restructuring and decline.

    ANTA Sports, China’s biggest sportswear retailer by market value saw its earnings rise 29 percent to 1.70 billion yuan for the 12 months ended December, up from 1.31 billion yuan in 2013. That was above a mean forecast of 1.64 billion yuan from 23 analysts’ estimates. But as recovery takes hold, ANTA’s domestic peers like Li Ning Co., backed by TPG Capital, and foreign rivals, such as Nike Inc. and Adidas AG, will also step up their game.