Rocky Tung is a director of capital markets policy for the Asia-Pacific region at CFA Institute. He is based in Hong Kong and is responsible for conducting research projects related to capital market structures in the region. He has over a decade of experience in economic and policy research, working closely with business leaders, government officials, academics and other stakeholders.
On 23 February, the Hong Kong Stock Exchange (HKEx) launched the second—and likely final—round of consultation before dual-class share (DCS) structures are expected to be introduced to the Hong Kong market later this year.
After some hiccups earlier this decade, talks of permitting the listing of companies with dual-class share (DCS) structures have gained traction in Hong Kong and Singapore, two major financial centers in Asia .
President Donald Trump has told his Cabinet China is eager to resume trade talks this month but has yet to offer an acceptable agreement. The Chinese government "must not underestimate President Trump's toughness and willingness to continue this battle to eliminate tariffs and nontariff barriers," US National Economic Council Director Larry Kudlow says. Bloomberg (tiered subscription model) (17 Aug.)
The EU will be "putting patients at risk" if it doesn't strike a deal to let the UK continue to play a role in drug safety and infectious-disease databases after Brexit, said Mike Thompson, CEO of the Association of the British Pharmaceutical Industry. Thompson said it would be costly for UK firms to set up duplicate testing facilities in the EU. Politico (17 Aug.)
A $250 million funding round has given food-delivery service DoorDash a $4 billion valuation. This is the second time in five months the company's valuation has more than doubled. MarketWatch (16 Aug.)
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