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20.08.26 - 05:06
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Hong Kong sees opportune time for advancing IPO connect scheme: IPO queen Pamela Chung (SCMP)
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Hong Kong is seeing an opportune time to move forward with a so-called IPO connect scheme, according to Pamela Chung Kong-hung, Vistra's managing director and head of its IPO & Share Registry Services, who says the scheme would allow mainland investors access to initial public offerings (IPOs) in Hong Kong, enabling better price discovery and expanding the investor capital pool to better match the city's large IPO pipeline.
“The secondary market connect has been operating very stably without......
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20.08.26 - 01:42
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AIA first-half profit up 11%, driven by strong growth in Hong Kong and Asia sales (SCMP)
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AIA Group, Asia's largest independent publicly listed life insurance group, reported 11 per cent growth in first-half operating profit, driven by strong growth of Hong Kong and mainland China sales and expansion in Southeast Asian markets.
Operating profit after tax on a constant currency basis reached US$4.16 billion, with earnings per share rising to 39.95 US cents, according to a filing to the Hong Kong stock exchange on Thursday. The result exceeded the US$3.94 billion consensus estimate of......
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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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