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19.08.26 - 12:42
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Prudential Hong Kong expands headquarters amid Beijing′s intensified wealth oversight (SCMP)
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Prudential Hong Kong has agreed to lease headquarters space at Swire Properties' One Taikoo Place and One Island East, marking a notable expansion of its office footprint in the city, according to the developer.
Under the agreement, the insurer will occupy a total of 83,000 sq ft across the two buildings, “reinforcing the company's commitment to Hong Kong and Taikoo Place as its long-term headquarters”, said Swire Properties, one of Hong Kong's largest commercial developers and landlords, in a......
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19.08.26 - 05:30
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Hong Kong Gold Exchange taps tech strength in joint venture to power gold settlement (SCMP)
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The Hong Kong Gold Exchange (HKGX) and TGX Technology have launched a joint venture to build a “secure, stable and internationally competitive” gold trading and clearing platform, as the city pushes to become a gold trading hub.
Hong Kong Gold Exchange Trading System (HKGXTS) would draw on technology partners, including Alibaba Cloud – which backs TGX Technology – and Hundsun Technologies, to deliver the platform, according to a statement issued on Tuesday. Alibaba owns the South China Morning......
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19.08.26 - 03:54
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Hong Kong stocks decline as rising bond yields and stalemate in Iran war dent sentiment (SCMP)
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Hong Kong stocks fell on Wednesday, as elevated US Treasury yields and a stalled diplomatic path towards resolving the Middle East conflict put investors on tenterhooks.
The Hang Seng Index fell 0.5 per cent to 25,323.70 as of 9.33am local time. The Hang Seng Tech Index dropped 1.4 per cent.
On the mainland, the CSI 300 Index slid 1.6 per cent and the Shanghai Composite Index retreated 1 per cent.
Higher capital costs have pressured stocks trading at elevated valuations, particularly the......
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19.08.26 - 02:00
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Use of yuan hits 6-month high in Hong Kong′s fast-payment system (SCMP)
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Hong Kong's fast-transfer payments denominated in yuan surged to a six-month high in July, signalling accelerating adoption of real-time cross-border retail payment channels even as mainland Chinese authorities maintain tight controls on capital outflows.
Transaction values through Hong Kong's Faster Payment System (FPS) for yuan reached 350.3 billion yuan (US$60 billion) in July, marking a 34 per cent increase from February, according to official data published by Hong Kong Interbank Clearing......
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19.08.26 - 01:00
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After years, Macau firm opts out of Hong Kong renewal project, seeks US$153m for site (SCMP)
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A North Point redevelopment site is being put on the market for HK$1.2 billion (US$153 million) after its owner, which spent years assembling the ageing property, warned that redeveloping it could result in losses of as much as 30 per cent.
The sale offers a rare glimpse into the difficulties facing private developers in Hong Kong's urban-renewal drive, where lengthy acquisition periods, financing costs and uncertain returns can undermine projects even as the residential market recovers.
Cushman......
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18.08.26 - 13:54
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Beijing urges mainland insurers to buy Hong Kong-listed ETFs (SCMP)
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China's financial regulator has encouraged mainland insurers to buy Hong Kong-listed exchange-traded funds (ETFs), an initiative that is poised to further boost the city's standing as an international finance centre.
The National Financial Regulatory Administration (NFRA) voiced support on Tuesday for mainland insurance funds investing in ETFs through schemes like Stock Connect, which allows cross-border trading between mainland and Hong Kong financial markets.
The announcement was made during a......
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18.08.26 - 12:06
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Hong Kong 5-year plan should have Northern Metropolis tax breaks, listing reforms: HKICPA (SCMP)
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The Hong Kong Institute of Certified Public Accountants (HKICPA) has urged the government to introduce tax incentives to help develop the Northern Metropolis and to improve the stock exchange's listing regime to further cement the city's role in international finance.
The organisation's submission for Hong Kong's first five-year plan asked the government to consider tax incentives for investors who fund start-ups based in the Northern Metropolis, said Stephen Law Cheuk-kin, president of the......
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18.08.26 - 10:36
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Chinese treasury futures launch cements Hong Kong as premier yuan hub (SCMP)
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When the Hong Kong stock exchange launched five-year China government bond futures on August 3, it did more than simply expand the city's derivatives product suite.
As the only China government bond futures in the offshore market, the contract deserves attention as it finally gives international investors an exchange-traded tool to hedge against yuan interest rate exposure, strengthening Hong Kong's ability to price yuan assets, manage risk and serve global investors.
The launch comes as the......
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18.08.26 - 10:00
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Hong Kong′s dim sum bond market hits new heights as State Grid deal draws record orders (SCMP)
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Hong Kong's offshore yuan bond market has seen another record-breaking deal – the largest single issuance by a Chinese state-owned enterprise – underscoring the growing appeal of the city's dim sum bond market.
State Grid Corporation of China raised 14.9 billion yuan (US$2.2 billion) through offshore yuan-denominated bonds, known as dim sum bonds, according to a statement on Monday from Bank of China, which acted as a joint global coordinator for the deal.
The offering comprised 3.9 billion yuan......
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18.08.26 - 04:01
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Even the rich in Hong Kong expect to work past retirement age, survey says (SCMP)
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Wealthy Hongkongers now invest in a way that shows they do not have a fixed retirement age in mind, as most of them expect to work longer than their parents, according to a survey.
Some 58 per cent of high-net-worth individuals in Hong Kong expected to work beyond retirement age, with 32 per cent anticipating they would work five to 10 years past it and another 26 per cent assuming they would work as long as possible, said the survey, released by Manulife on Tuesday.
Hong Kong has no official......
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