From chasing robots to chasing profits: the numbers moving markets
While Chinese investors chased Unitree Robotics amid the frenzy for robotics stocks, the market this week also focused on the implications of July’s US inflation rate, the gold price trend and the interim results of CK Hutchison Holdings, one of the flagship companies owned by Hong Kong billionaire Li Ka-shing’s family. Unitree’s retail subscription rate of 0.0181% Millions of retail investors in China rushed to subscribe to Unitree Robotics on Monday, as nearly 9.8 million trading accounts...
Unitree Robotics, US inflation rates, gold prices, Hong Kong homes and CK Hutchison’s interim results were in the spotlight this week
While Chinese investors faced down long odds for a stake in Unitree Robotics amid a broader frenzy for high-performing tech stocks, the market this week also focused on the implications of July’s US inflation rate, gold price trends and the interim results of CK Hutchison Holdings, one of the flagship companies owned by the family of Hong Kong billionaire Li Ka-shing.
Unitree raised 6.1 billion yuan (US$904 million) at 150.80 yuan a share, giving the robotics pioneer a valuation of 60.99 billion yuan.
Only 24 per cent of affluent residents with at least HK$1 million (US$127,449) in investible assets cited home ownership as a key life goal, placing it seventh. Immersive travel took second place at 48 per cent, trailing only early retirement at 49 per cent, with high-net-worth respondents (those with investible assets of HK$7.8 million or more) budgeting an average of HK$345,000 for travel this year.
Spot gold rallied from US$4,409 an ounce on Tuesday to hit an intraday high of US$4,449 on Thursday, marking its highest level in nine weeks before closing 1.3 per cent lower at US$4,351.
