Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Hong Kong Exchanges and Clearing Limited    388   HK0388045442

HONG KONG EXCHANGES AND CLEARING LIMITED

(388)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

In bid to curb virus, China firms tell staff to work from home even after holidays end

share with twitter share with LinkedIn share with facebook
share via e-mail
01/27/2020 | 03:18pm EDT
FILE PHOTO: A man wearing a mask is seen at the Nanjing Pedestrian Road, a main shopping area, in Shanghai

Chinese corporate giants including Alibaba Group Holding and Tencent Holdings Ltd said they have asked staff to work from home for one week after an extended Lunar New Year break ends, seeking to limit the spread of a new flu-like virus.

The government has lengthened the week-long Lunar New Year holiday by three days to Feb. 2 in a bid to contain the virus which has killed 81. The total number of confirmed cases on Monday jumped about 30% to more than 2,700.

But many big businesses are going one step further, telling employees to work from home until Friday, Feb. 7 and not return to their offices until Monday, Feb. 10.

Alibaba said the measure applied across all its divisions, including to workers in Hong Kong, Taiwan and Macau as well as in mainland China. It employs more than 100,000 people worldwide, most of whom are in China.

The Shanghai government also imposed a similar measure, announcing that all companies in the city would not be allowed to start work before Feb. 9, as did the nearby city of Suzhou, home to a big industrial park for pharmaceutical firms and tech companies.

The decision by the Shanghai government will affect companies such as Tesla Inc , General Motors and Volkswagen which either own factories or operate them in the city through ventures with local partners.

Tiktok owner Bytedance was among the most stringent, requiring employees who travelled during the holidays to quarantine themselves and work from home for 14 days. Staff who had not travelled could start working from the office from Feb.10, though that date could change, according to an internal note seen by Reuters. Bytedance declined to comment.

Wuhan, a city of 11 million and the epicentre of the outbreak, is already in virtual lockdown and severe limits on movement are in place in several other Chinese cities.

E-commerce firm Pinduoduo, UBS Group AG and property developer Country Garden have also advised employees returning from Wuhan or Hubei province to quarantine themselves at home.

Haidilao International Holding, operator of a popular hotpot restaurant chain, said it would shut stores across China from Sunday to Friday - one of the biggest temporary closures by a nationwide chain to date.

Other brands such as Starbucks Corp have closed shops in Hubei province. Walt Disney Co's Shanghai Disney Resort said last week it will close until further notice.

In Hong Kong, where the holiday break is shorter, the stock exchange cancelled a Wednesday ceremony for the first trading day of the Lunar New Year, citing the increasing risks of the coronavirus infection.

The decision comes after Hong Kong banned residents of Hubei from entering the territory from Monday.

As companies brace for the virus to hit business, China's financial regulators said they were encouraging banks to lower lending rates for sectors heavily affected by the outbreak.

The Chinese-ruled gambling hub of Macau said it would bar anyone who has been in Hubei province within 14 days of their arrival from entering the city's casinos.

(Reporting by Josh Horwitz in Shanghi and Yingzhi Yang in Beijing; Additional reporting by Alun John and Clare Jim in Hong Kong and Pei Li, Yilei Sun and Winni Zhou in Beijing; Writing by Miyoung Kim; Editing by Edwina Gibbs)

By Josh R. Horwitz and Yingzhi Yang

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -3.45% 188.59 Delayed Quote.-11.08%
COUNTRY GARDEN HOLDINGS COMPANY LIMITED 6.73% 8.41 End-of-day quote.-1.06%
GENERAL MOTORS COMPANY -5.23% 21.38 Delayed Quote.-41.58%
GOLDEN EAGLE RETAIL GROUP LIMITED 0.51% 7.92 End-of-day quote.5.60%
HAIDILAO INTERNATIONAL HOLDING LTD. 7.57% 30.55 End-of-day quote.4.27%
HONG KONG EXCHANGES AND CLEARING LIMITED 5.87% 223.8 End-of-day quote.2.57%
PINDUODUO INC. -4.57% 35.32 Delayed Quote.-6.61%
STARBUCKS CORPORATION -5.09% 66.34 Delayed Quote.-24.55%
TENCENT HOLDINGS LIMITED 4.94% 365.2 End-of-day quote.1.16%
TESLA, INC. -2.61% 514.36 Delayed Quote.22.96%
UBS GROUP AG -1.04% 8.96 Delayed Quote.-25.81%
VOLKSWAGEN AG -1.18% 103.98 Delayed Quote.-40.18%
WALT DISNEY COMPANY (THE) -8.50% 96.4 Delayed Quote.-33.35%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on HONG KONG EXCHANGES AND CL
03/25Global watchdog IOSCO says determined to keep markets open
RE
03/25ZERO TOLERANCE FOR BRIBERY : Gov't
AQ
03/25HONG KONG EXCHANGES AND CLEARING : Former Hong Kong bourse official charged with..
RE
03/25SHANXI SECURITIES : China's first iron ore futures ETF raises $11 million ahead ..
RE
03/24London Metal Exchange says it can approve warehouses remotely
RE
03/19EXPLAINER : Global market rout triggers trading suspension debate
RE
03/18HONG KONG EXCHANGES AND CLEARING : London Metal Exchange keeps ring trading at H..
RE
03/18HONG KONG EXCHANGES AND CLEARING : HKEX chief says committed to keeping markets ..
RE
03/17HONG KONG EXCHANGES AND CLEARING : London Metal Exchange plans to suspend ring t..
RE
03/17HONG KONG EXCHANGES AND CLEARING : Proxy Form (Annual General Meeting - 7 May 20..
PU
More news
Financials (HKD)
Sales 2020 17 901 M
EBIT 2020 12 574 M
Net income 2020 10 822 M
Finance 2020 190 B
Yield 2020 3,20%
P/E ratio 2020 27,6x
P/E ratio 2021 24,9x
EV / Sales2020 5,68x
EV / Sales2021 5,97x
Capitalization 292 B
Chart HONG KONG EXCHANGES AND CLEARING LIMITED
Duration : Period :
Hong Kong Exchanges and Clearing Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HONG KONG EXCHANGES AND CL
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 287,10  HKD
Last Close Price 234,60  HKD
Spread / Highest target 39,0%
Spread / Average Target 22,4%
Spread / Lowest Target 8,70%
EPS Revisions
Managers
NameTitle
Xiaojia Li CEO & Executive Director
Romnesh Lamba Co-President
Chi Kin Tai Co-President & Chief Operating Officer
May Lung Cha Non-Executive Chairman
Vanessa Lau Group Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
HONG KONG EXCHANGES AND CLEARING LIMITED2.57%38 071
INTERCONTINENTAL EXCHANGE, INC.-12.21%44 617
LONDON STOCK EXCHANGE PLC-10.35%30 118
DEUTSCHE BÖRSE AG-16.05%23 928
NASDAQ-13.37%15 310
B3 SA BRASIL BOLSA BALCAO0.00%14 783