Markets
News
Analysis
User
24/7
Economic Calendar
Education
Data
- Names
- Latest
- Prev
Trending
Indices
US
Crypto
Forex
Commodities
Futures
SYMBOL
LAST
NET CHG.
%CHG.
BID
ASK
HIGH
LOW
SPREAD
- All
- Chatrooms
- Groups
- Friends
Connecting
.
.
.
US
VN
TW
- All
- US Election
- Israel-Palestine Conflict
- Russia-Ukraine Conflict
Search
News
Trending Topics
Daily News
To quickly learn market dynamics and follow market focuses in 15 min.
Remarks of Officials
In the world of mankind, there will not be a statement without any position, nor a remark without any purpose.
Central Bank
Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.
Forex
Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.
Latest Update
Risk Warning on Trading HK Stocks
Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.
HK Stock Trading Fees and Taxation
Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.
HK Non-Essential Consumer Goods Industry
The Hong Kong stock market encompasses non-essential consumption sectors like automotive, education, tourism, catering, and apparel. Of the 643 listed companies, 35% are mainland Chinese, making up 65% of the total market capitalization. Thus, it's heavily influenced by the Chinese economy.
HK Real Estate Industry
In recent years, the real estate and construction sector's share in the Hong Kong stock index has notably decreased. Nevertheless, as of 2022, it retains around 10% market share, covering real estate development, construction engineering, investment, and property management.
Recent Searches
Top Searches
View All
No data
Search
Global Deal-making is Expected to Gain Momentum in 2025
Summary:
The pace of mergers and acquisitions around the world gained momentum this year...
The pace of mergers and acquisitions around the world gained momentum this year, and there are signs that deal-making will accelerate in 2025, say Stephan Feldgoise and Mark Sorrell, the co-heads of the global mergers and acquisitions business in Goldman Sachs Global Banking & Markets.
There’s been a “gradual crescendo of factors” behind the rise in acquisitions, Feldgoise says in an episode of Goldman Sachs Exchanges. Those factors include: a decline in borrowing costs, a drive from private equity sponsors to return capital to their limited partner (LP) investors, and corporate repositioning in the form of strategic dealmaking. While the uncertainty from a rush of major elections around the world sparked market volatility, deal activity increased about 10% this year and may rise by a similar percentage in 2025, he says.
The conditions for private equity activity are becoming more solid. Historically, those deals have comprised almost 40% of the market for acquisitions, but recently it’s been closer to 20-30%, Feldgoise says. Part of the reason for the decline is that it’s been more challenging to sell and monetize business and return to the market. IPOs have been more constrained, but that may be changing.
“For sponsors to feel the confidence to put their assets into the market — the dual track, as we call it, which is equally pursuing an IPO at the same time as M&A — is a very powerful tool,” he says.
Interest rates have declined, but there’s been some “psychological adjustment” in markets because rates had been so low following the financial crisis, Feldgoise says. Private equity sponsors benefited from rock-bottom rates and have had to adjust their models as valuations conform to a different paradigm.
“The world got used to free money for well over a decade,” he says. “If you look at the level of absolute rates now, it's still relatively low if you look over 30 years or 40 years or 50 years.”
Will private equity deals increase in 2025?
At the same time, private equity firms are deploying capital, after a decline, at a rate closer to historical average, Sorrell says.
“There's a good number of firms saying their rate of deployment is on plan or even slightly ahead of plan versus where they were at the beginning of the year,” he says. A substantial amount of that capital is going into deals to take public companies private. Private equity exits, meanwhile, are well below historical levels.
“That is the place, I think, in 2025 where we're watching very closely as valuation gaps close,” Sorrell says. It will be important to monitor the state of the IPO market and rate of exit transactions, which he says will be key to unlocking more deal activity.
“The big difference from this time last year is how quickly the rate of deployment has improved both in traditional private equity and infrastructure,” he says. “Digital infrastructure is a great example where there's been an incredibly active deployment of capital around the world.”
Feldgoise says they spend a lot of time in boardrooms talking about how generative AI will ripple through the economy. It’s a topic that touches on everything from semiconductors to real estate and to the additional power needed for data centers. While it’s not likely to be a major part of the market for acquisitions, the environment may change as AI matures and it becomes clearer how to value these companies.
“It may evolve into more of an M&A market once the companies and the winners become clearer,” he says.
How will the US election impact M&A?
Though election uncertainty caused an increase in market volatility, corporate executives tend to take a very long perspective. “Boards think in decades,” Feldgoise says. While an administration’s policies and the economic cycle have an impact in the shorter run, they tend to have less of an impact in overall, long-term strategic activity.
“Businesses are generational, multi-decade, and people are thinking that way," he adds. "That's why we remain bullish on M&A regardless of geopolitical or regulatory or electoral situations.”
European mergers and acquisitions increased sharply in 2024 after a muted year for deals in 2023 amid slow economic growth, Sorrell says. “Within the space of a few months, we've gone to a very much more normal rate of dealmaking in Europe,” he says. He points out that there has been a wave of transactions among financial companies and an increase in deals taking public companies private.
Australian dealmaking has rebounded in a similar fashion to that of Europe, Sorrell says. “The other bright spots in Asia are India, which remains very, very strategic for many of our clients, both corporate and private equity, and Japan as well,” he says.
Transactions in China have yet to accelerate amid slower economic growth. “With that exception, my own view is that Asia is trending in the direction Europe has been trending,” he says. “It's just running a few months behind in terms of the general trajectory.”
Feldgoise says the US, meanwhile, has benefited from perceived stability, energy supply, and onshoring of manufacturing and investment from the government in certain sectors. He says there’s been an “incredible focus” from companies looking to tap into the growth in the US.
Healthcare M&A has growing momentum
Acquisitions among healthcare companies grew last year, and Feldgoise says that momentum will likely continue in 2025. Technology and consumer firms have also been among the sectors looking for growth through dealmaking. Large energy companies have been acquiring inventory in a major, multi-year wave of consolidation.
“Scale is increasingly more important,” he says. “Scale across geography for diversification of supply chains and manufacturing. Scale across products for being able to understand where growth might be and being able to capture those market opportunities. Scale for financing and balance sheet heft in stormy financing or capital markets.”
The main question now is the rate of dealmaking growth in 2025, Sorrell says. “The next 12 months will be a better environment for, particularly, large deal making activity than the previous 12 months, because of [the] risk appetite, financing environment, regulatory conditions, geopolitical conditions,” he says.
To stay updated on all economic events of today, please check out our Economic calendar
Risk Warnings and Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
Copyright © 2025 FastBull Ltd
728 RM B 7/F GEE LOK IND BLDG NO 34 HUNG TO RD KWUN TONG KLN HONG KONG
Risk Disclosure
The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No decision to invest should be made without thoroughly conducting due diligence by yourself or consulting with your financial advisors. Our web content might not suit you since we don't know your financial conditions and investment needs. Our financial information might have latency or contain inaccuracy, so you should be fully responsible for any of your trading and investment decisions. The company will not be responsible for your capital loss.
Without getting permission from the website, you are not allowed to copy the website's graphics, texts, or trademarks. Intellectual property rights in the content or data incorporated into this website belong to its providers and exchange merchants.