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Haitong Securities has become the latest underwriter to be left holding a big portion of a public share placement in China's domestic market, highlighting the risks bookrunners face in increasingly difficult conditions.
Railway company stocks plunged on Monday in a panic selling amid investor concerns that the high-speed train crash in East China on Saturday may trigger a substantial slowdown of the country's investment in its ambitious railway construction.
China's central bank will not drain funds from the money markets through 28-day bond repurchase agreements on Tuesday, traders said.
Stocks on the Chinese mainland fell the most in two months as railway shares plunged after a deadly bullet-train accident, while the political stalemate over the US debt limit boosted concern that the world's biggest economy will default.
Chinese companies listing overseas are expected to seek to improve their image to shake off the credibility crisis they face in the United States stock market, say analysts.
Mainland hedge fund Springs Capital is expanding its presence to Hong Kong as it looks to strengthen its expertise on H shares and win more offshore clients, a top executive said on Monday.
Hong Kong stocks closed down 151. 51 points, or 0.68 percent, at 22293.29 on Monday.
China's stock index futures closed lower on Monday with the contract for August, the most actively traded, down 3.26 percent from the previous day to 2,977.2 points.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 36.93 points, or 4 percent, to 887.06 on Monday.
Chinese shares tumbled on Monday, the first trading day following a deadly train collision in the eastern province of Zhejiang, which left 36 people dead and 192 others injured.
China's top banking regulator announced Sunday that it has given the nod to the establishment of a regional bank in the Tibet Autonomous Region, with initial capital adding up to $1.5 billion yuan.
Guosen Securities Co, the top- ranked arranger of initial public offerings in China, has more than doubled the workforce at its Hong Kong unit this year as Chinese investment banks challenge Goldman Sachs Group Inc and Morgan Stanley outside their home market, Bloomber reported Monday.
