Devisenmarkt Hong Kong (China)      24058.055     -0.47%     (Hang Seng Kurs)

 

A Beijing-based fintech services provider, which has provided billing systems for China's digital yuan, has signed a strategic partnership with a Hong Kong firm to tap stablecoin and virtual asset business opportunities, in the latest sign of mainland interest in the city's recent moves to license cryptocurrency issuers. Shenzhen-listed North King Information Technology said on Wednesday that it had struck a deal with Hong Kong-listed GoFintech Quantum Innovation to develop infrastructure to......

Hong Kong's de-facto central bank ramped up purchases of the city's currency as it sought to defend a peg that has been strained by volatility in the greenback....

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OCBC Bank's Frances Cheung shares her views on the Hong Kong dollar (HKD) after the city's monetary authority intervened to defend the peg to the US dollar (USD). She tells Bloomberg Television that the amount of local currency the HKMA bought "was actually quite small" and that she suspects "further or additional FX intervention will be needed." (Source: Bloomberg)...

Hong Kong stocks retreated from a three-month high as property developers and lenders slumped after the monetary authority intervened in the currency market and mopped up liquidity, threatening to push up local interest rates. The Hang Seng Index fell 0.5 per cent to 24,348.08 at 10.03am local time on Thursday. The Hang Seng Tech Index gained 0.3 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both slipped 0.1 per cent. Sun Hung Kai Properties tumbled 3.8 per cent......

The Hong Kong Monetary Authority (HKMA) has stepped into the financial market for the first time since 2023 to support the weak local currency, which may lead to an increase in interbank interest rates and add to the burden on mortgage borrowers. The city's de facto central bank sold US$1.2 billion worth of US dollars to buy Hong Kong dollars at HK$7.85 per US dollar, according to a statement on Thursday. The action came after the local currency hit the weak end of its trading band at HK$7.85.......

Hong Kong's de facto central bank bought the local dollar to prop it up on Thursday, in a move to defend the city's currency peg to the greenback....

China's central bank could use Hong Kong as a sandbox for testing digital payment alternatives to internationalise the yuan, but Beijing's digital currency ambitions face hurdles because of the country's economic challenges, according to Morgan Stanley. Hong Kong has established the world's first regulatory regime for stablecoins – digital tokens that are pegged to a reference asset like a fiat currency – with the law taking effect from August 1. The move positioned Hong Kong as a launch pad for......

Global investors, including those based in Hong Kong, are channelling their funds into Japan's residential property market as returns from assets in mainland China sag in the midst of a four-year slump, according to market consultants. They ploughed in US$11.2 billion of capital into Japanese real estate in the first quarter, or 6 per cent above the five-year average, according to data compiled by Colliers, making it the fifth largest recipient globally. Investors from the US, Singapore and Hong......

China's financial authorities have granted Hong Kong residents a new daily remittance quota for the renminbi, as a cross-border electronic transactions service prepares to kick off, linking 315 million users between the city and the mainland. Starting from noon on Sunday, the 17 million registered users of Hong Kong's Faster Payment System (FPS) will be able to remit up to HK$10,000 (US$1,282) per day for each bank account to 298 million users on the mainland's Internet Banking Payment System......

The Hong Kong dollar dropped to the weak end of its fixed trading range against the greenback, as cheap funding costs encouraged investors to borrow it and buy the US currency....

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Hong Kong will assess the risks and study Beijing's monetary policies before launching yuan-pegged stablecoins to bolster the internationalisation of the Chinese currency, according to a local senior official. Christopher Hui Ching-yu, Secretary for Financial Services and the Treasury, said during a panel on Wednesday at the Lujiazui Forum in Shanghai that while Hong Kong was technically ready to proceed, more time was needed to evaluate the advantages and disadvantages of issuing such a......

A fresh debate about the sustainability of Hong Kong's decades-long currency peg has analysts ruminating on what might eventually replace it....

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Hong Kong could serve as a stablecoin test bed to boost the internationalisation of the yuan as Beijing puts more focus on the digital version of its currency, according to the chairman and CEO of HashKey Group. “Due to its 'one country, two systems' characteristics, Hong Kong's stablecoins can serve as a testing ground for the mainland, providing both experience and lessons,” said Xiao Feng, who heads one of the city's licensed cryptocurrency exchange operators, on Wednesday. Earlier in the......

Hong Kong can be a crucial partner in the continued and orderly opening of mainland China's capital markets, particularly in advancing the internationalisation of its currency, according to HSBC's co-CEO. As a financial hub connecting East and West, Hong Kong “can play a key role in promoting the yuan's internationalisation by expanding its offshore liquidity while maintaining strong safeguards and effective risk management,” said David Liao, the lender's co-CEO for Asia and the Middle East, at......

Doubts about the dollar's supremacy present a unique opportunity to accelerate the yuan's internationalisation....

The Hong Kong dollar edged closer to the weak end of its trading range as sliding local interest rates encouraged traders to increase their borrowing of the currency to fund carry trades....

Hong Kong's key interbank borrowing cost slumped following foreign-exchange intervention by the city's authorities, fueling bearish bets against the local dollar....