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Stocks in Asia-Pacific are mixed as the US Federal Reserve released the minutes of their November meeting. Chinese JD Health filed for IPO on the Hong Kong Stock Exchange.On the 26th of November, stocks in Asia-Pacific mixed in after the US Federal Reserve released its November meeting minutes. During the meeting, which was held on the 4th and 5th of November, the US central bank executives debated generating money into the economy. Notably, the global economy is still rebounding from the negative effect of the coronavirus pandemic. Asia-Pacific Stocks MixedAccording to a CNBC report, mainland Chinese stocks were mixed after the Fed meeting minutes were released. The report noted that the Hang Seng index closed with a 0.56% increase to 26,819.24. Also, the Shanghai composite climbed 0.22$
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Stocks in Asia-Pacific are mixed as the US Federal Reserve released the minutes of their November meeting. Chinese JD Health filed for IPO on the Hong Kong Stock Exchange.
On the 26th of November, stocks in Asia-Pacific mixed in after the US Federal Reserve released its November meeting minutes. During the meeting, which was held on the 4th and 5th of November, the US central bank executives debated generating money into the economy. Notably, the global economy is still rebounding from the negative effect of the coronavirus pandemic.
Asia-Pacific Stocks Mixed
According to a CNBC report, mainland Chinese stocks were mixed after the Fed meeting minutes were released. The report noted that the Hang Seng index closed with a 0.56% increase to 26,819.24. Also, the Shanghai composite climbed 0.22$ to around 3,369.73. However, the Shenzhen component declined 0.411% to about 13,5999.99.
In addition, S&P/ASX 200 in Australia plunged by 0.7%, closing at 6,636.40.
Furthermore, the report revealed that Japanese stocks surged, reacting to the released minutes. CNBC noted that Topix index (TOPIX: 180460) gained 0.6% to 1,778.25. Also, Nikkei 225 (NIKKEI: NIK) grew 0.91% over its previous close of 26,296.86. Nikkei 225 index is currently closed at 26,537.31. The Korea Composite Stock Price Index (KOSPI) also grew 0.94% to 2,625.91 at the end of trading. Previously, KOPSI closed at 2,601.54.
JD Health Seeks to Raise Over $3 Billion in IPO
The healthcare unit of Chinese e-commerce giant JD.com is planning to raise more than $3 billion in its upcoming initial public offering (IPO). According to a term sheet, JD Health would be listed on the Hong Kong Stock exchange. The company hopes to sell 381.9 million shares between 62.80 ($8.10) to 70.58 Hong Kong dollars ($9.11). If JD Health exercises an over-allotment option, the company may secure about $4 billion in the IPO.
According to a Reuters report, the proposed JD Health IP is positioned to be the biggest Hong Kong Stock Exchange of the year.
Reuters noted that JD Health is the Chinese largest online healthcare platform by revenue. In 2019, the healthcare company recorded 10.8 billion yuan in revenue, which equals $1.6 billion.
In addition, the users of the JD Health online platform has increased over time. As of June 2019, the company had 53.5 million annual active users. However, the number of active users has added about 19 million to 72.5 million as of the 30th of June.
Furthermore, JD Health is the largest online real pharmacy in China, owning about 29,85 of the market share.
Reuters further added that JD Health shares trading is scheduled to begin on the 8th of December, 2020.
Also, oil prices fell at mid-day on the 26th of November. Both Brent crude futures and the US crude futures declined on the day. Brent crude futures went low by 1.46% to $47.90 per barrel, and the US crude futures dropped 1.47% to $45.04 per barrel.