Baidu to convert Hong Kong listing to primary status
After the change, it will have a dual primary listing on the Hong Kong Stock Exchange and Nasdaq.
Hong Kong's private home prices dropped 0.5% in July, marking the first decline since March 2025, according to data released by the Rating and Valuation Department on Thursday. This follows a revised monthly increase of 0.2% in June. Over the first seven months of the year, prices have risen by 7.3%, and since the last trough in March 2025, they have climbed 12.8%.
Real estate agents anticipate a brief period of stabilization after an extended period of rising prices, as buying demand faces challenges due to a correction in the stock market and China's stricter regulations on outbound investment.
The Hong Kong property market, one of the world's most expensive, has been buoyed by positive market sentiment, strong stock market performance, robust demand from mainland Chinese professionals, and a reduction in oversupply. However, the latest data indicates that residential prices in the Asian financial hub have not increased since last year, following a nearly 30% decline since their peak in 2021.
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