Stocks

Luckin Coffee is in talks with private equity (PE) firms for a new round of investment, and from more than one investor, Chinese media outlet PEdaily reported Wednesday.

Luckin Coffee is actively using multiple sources to raise capital, "and is currently in a 30-day internal discussion with credible investors to raise at least $250 million through a private placement," it said.

China Mobile is discussing a potential A-share offering with advisers to seek new sources of financing for the development of its 5G network.

Hong Kong-based stockbroker Futu Holdings reported total revenue of $153 million in the fourth quarter of 2020, up 282% year on year, marking its fourth consecutive quarter of triple-digit growth.

Shares of Chinese social media and gaming giant Tencent Holdings plunged more than 4 percent in Hong Kong trading, amid reports by Bloomberg that the company has become the next target of China's increased regulation in the fintech sector.

"In fact, not only has demand not decreased, but sales of iPhone 12 and iPhone 12 pro have been better than expected."

Chinese search engine giant Baidu's secondary listing in Hong Kong nears, as it passes hearing of the Hong Kong Stock Exchange, according to a filing.

Hong Kong-listed China Telecom announced on March 9 its plan to list on the A-share market, set to become another telecom operator to be listed on the mainland stock market.

500.com was originally an online lottery trading platform that provided lottery ticket buying services such as soccer and sports lottery tickets, as well as related consulting, tools, and communities.

Gap shares were up 34 percent over the past two months amid a general sell-off in US technology stocks.