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23.10.26 - 10:18
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Hong Kong life insurance sales up 58% in first half but tax crackdown threatens momentum (SCMP)
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Life insurance sales in Hong Kong rose 58 per cent in the first half of this year to another record high as affluent mainland and overseas customers continued to buy policies in the city for wealth transfer, protection and medical needs.
It was the fourth consecutive year in which first half sales hit a record high.
The industry wrote HK$275.16 billion (US$35.3 billion) worth of new life insurance policies in the first half, compared with HK$173.7 billion a year earlier, according to data from......
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23.10.26 - 09:21
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Aktien Asien: Stabilisierung im Verlauf (DPA-AFX)
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SEOUL/TOKIO/HONGKONG/SHANGHAI (dpa-AFX) - Die wichtigsten asiatischen Aktienmärkte haben sich am Freitag solide entwickelt. Sie erholten sich von anfänglichen Verlusten im Handelsverlauf.Die inflationären Risiken durch die hohen Energiepreise ......
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23.10.26 - 02:06
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Wall Street piles into Hong Kong′s dim sum bonds despite fading yuan funding edge: BofA (SCMP)
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Hong Kong's offshore yuan bond market is becoming an increasingly important funding source for global banks, with US lenders driving a surge in issuance even as the currency's traditional funding advantage over the dollar narrows.
The shift offers a glimpse of how financial ties between Wall Street and China are evolving despite geopolitical tensions. For US banks, the attraction increasingly lies in access to Chinese capital rather than lower borrowing costs.
Offshore yuan-denominated bonds,......
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23.10.26 - 01:00
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HSBC RedCoin stablecoin launches for 3.3 million PayMe users in Hong Kong (SCMP)
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HSBC will launch its Hong Kong dollar-backed stablecoin in stages from Friday for more than 3.3 million users of its PayMe app, as the bank pushes to bring digital currencies into the city's mainstream retail and investment markets.
HSBC RedCoin, available only through PayMe and the bank's Hong Kong mobile banking app, would initially support peer-to-peer transfers and peer-to-merchant payments on PayMe, according to head of PayMe Lawrence Li.
Users can activate their HSBC RedCoin wallet, with......
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22.10.26 - 14:06
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Hong Kong targets financial innovation to help ease economic ′pain points′ (SCMP)
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Hong Kong's top banking regulator has called for greater innovation in the city's financial system to help address “pain points” in the real economy, as the city works with mainland Chinese and Asia-Pacific partners to navigate a host of sustainability, geopolitical and other challenges.
“True innovation in finance is not simply about chasing novelty; it's about transforming conventional financial tools into efficient solutions,” said Eddie Yue Wai-man, chief executive of the Hong Kong Monetary......
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22.10.26 - 05:18
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Hong Kong stocks head for 4-month low as chance of strong stimulus from Beijing shrinks (SCMP)
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Sell-offs in Hong Kong stocks deepened on Thursday, with the benchmark gauge heading for its lowest level in nearly four months, as hopes fade that Beijing would introduce aggressive stimulus measures following recent economic data indicating the annual growth target was within reach.
The Hang Seng Index sank 2.7 per cent to 23,007.73 as of 10.50am local time, poised for its lowest close since June 30. The Hang Seng Tech Index dropped 4.3 per cent.
On the mainland, the CSI 300 Index slid 1.6 per......
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22.10.26 - 03:42
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Debt-laden mainland developer Shimao sells its 2 Hong Kong hotels for US$344 million (SCMP)
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Receivers of the Sheraton Hong Kong Tung Chung Hotel and the Four Points by Sheraton have sold the dual-branded complex, which together comprise the city's third-largest hotel by room count, for HK$2.7 billion (US$344 million), Shimao Group announced on Thursday.
In a filing to the Hong Kong stock exchange, the distressed mainland Chinese developer said the buyer was Oceanfront Hong Kong Limited.
Oceanfront is owned by, among others, investment vehicles associated with ParkCity Group, a......
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22.10.26 - 01:00
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Could Hong Kong′s student housing boom lure property giants off the sidelines? (SCMP)
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Hong Kong's largest landlords and developers could get their first formal route into the rising student accommodation market after the government announced plans to tender land for a purpose-built student hostel this quarter, according to analysts.
Development Secretary Bernadette Linn Hon-ho announced on Thursday the inclusion of a 1,100 square metre (11,840 square foot) site for student accommodation as one of two land tenders in the October to December quarter.
The plot – at the junction of......
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21.10.26 - 15:54
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Hong Kong working to boost global banks′ use of yuan trading tools (SCMP)
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Hong Kong has vowed to engage more international banks in a debt securities clearing system, as part of a wider push to develop the city into a leading global yuan trading hub.
“Hong Kong is actively promoting a number of measures to advance the city's offshore yuan market to higher and deeper levels,” said Michael Wong Wai-lun, the city's deputy financial secretary, during a Hong Kong event related to the Financial Street Forum on Wednesday.
On the infrastructure side, Wong said the government......
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21.10.26 - 12:06
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Hong Kong′s SHKP sells 128 Sierra Sea flats ahead of possible US rate increase (SCMP)
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Sun Hung Kai Properties (SHKP), one of Hong Kong's largest developers, has sold out the latest batch of flats at its Sierra Sea project in the New Territories, where units were offered at discounted prices ahead of a possible US Federal Reserve interest-rate increase by year-end.
By 5.40pm on Wednesday, SHKP had found buyers for all 128 flats offered at listed prices in Phase 2C(2) of the development in Shap Sze Heung, between Sai Kung and Ma On Shan, according to agents. Sales began at......
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21.10.26 - 11:06
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Hong Kong sees last-minute IPO cancellations amid increased regulatory checks, weak market (SCMP)
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Hong Kong's tougher oversight and weak investor demand have put many mainland China issuers in a dilemma, forcing many small-cap non-technology firms to delay their fundraising plans or even cancel them at the last minute, according to industry players.
On Tuesday Jiangsu Slender West Lake Culture and Tourism (SWL Tour) became the latest such case, when the state-owned aquatic tourism service provider postponed a HK$227 million (US$28.93 million) listing. The company attributed the decision to......
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21.10.26 - 10:01
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Apec finance ministers reach consensus on AI, digital financing in Hong Kong (SCMP)
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Asia-Pacific Economic Cooperation (Apec) finance chiefs reached a consensus on economic policy coordination and cooperation on financing technology and artificial intelligence at a landmark two-day gathering in Hong Kong, according to China's finance minister.
Lan Foan said the outcomes achieved during the Apec Finance Ministers' Meeting would help shape discussions at the leaders' summit in Shenzhen next month.
“China will work with all member economies to implement the important consensus......
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20.10.26 - 11:30
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Hong Kong′s workers fear AI-driven retirement disruptions, only 20% feel prepared: survey (SCMP)
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More than half of Hong Kong's working adults believe artificial intelligence will make their retirement path more unpredictable than previous generations, yet only one in five feel financially prepared for the shift, according to a survey by global asset manager T. Rowe Price.
About 55 per cent of the 1,004 Hong Kong residents surveyed – all 30 or older and earning at least HK$15,000 (US$2,239) per month – said they expected AI-driven disruptions to destabilise their long-term career and income......
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20.10.26 - 11:30
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Mainland Chinese traders boost Hong Kong stock buying for fourth month as AI bets surge (SCMP)
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Mainland Chinese investors bought more Hong Kong stocks than they sold for a fourth consecutive month in September, with purchases accelerating despite persistent headwinds from elevated US Treasury yields and oil prices.
Onshore traders poured a net HK$60.8 billion (US$7.7 billion) into Hong Kong's stocks via the Stock Connect programme last month, up from HK$10.4 billion in August, according to financial data provider Wind. Net buying reached HK$134.1 billion in the third quarter.
Mainland......
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