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07.08.26 - 14:42
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Buyer linked to Ningbo′s richest family purchases Hong Kong trophy home for US$18.5m (SCMP)
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A buyer linked to the family behind Ningbo Tuopu Group has acquired a luxury villa in Hong Kong's Tai Po area for HK$145.6 million (US$18.5 million), adding to signs of fresh mainland Chinese wealth making its way into the city's high-end residential market.
Wu Xiaoming agreed to buy a home at Villa Lucca, 7 Lucca Avenue, on July 17 under an off-plan agreement for sale and purchase, Land Registry records showed.
The four-bedroom stand-alone garden house has a saleable area of 5,281 sq ft,......
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07.08.26 - 14:30
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Beijing says 20% offshore insurance tax not new – and does not target Hong Kong (SCMP)
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China's State Taxation Administration (STA) on Friday clarified that the 20 per cent personal income tax imposed on gains from offshore insurance policies was not a new policy – and was not specifically targeting the Hong Kong insurance industry.
The STA urged the market not to overreact to the policy, according to an unnamed official quoted by Shanghai-based digital media outlet The Paper on Friday.
The comments came a day after the share prices of several major Hong Kong-listed financial firms......
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07.08.26 - 12:18
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As US-China pharma rivalry heats up, can Hong Kong′s US$8b fund be the global bridge? (SCMP)
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Hong Kong is stepping up its efforts to invest in a cluster of biotech companies, positioning itself as a linchpin in Beijing's push to reach new levels of innovation and challenge the United States for dominance in the global pharmaceutical market.
Hong Kong Investment Corporation (HKIC), which manages about US$8 billion in assets and is wholly owned by the Hong Kong government, has built a biotech and healthcare technology investment portfolio covering both traditional Chinese and Western......
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07.08.26 - 12:06
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Hong Kong′s Hang Lung Properties names former Starbucks China head Leo Tsoi as new CEO (SCMP)
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Hong Kong developer Hang Lung Properties has tapped Leo Tsoi Tak Lun, CEO of Toys 'R' Us Asia and former head of Starbucks China, as its new CEO and executive director.
Tsoi will join Hang Lung Group and Hang Lung Properties on September 7 as CEO-designate and executive director ahead of formally assuming the CEO role on October 1. He succeeds Weber Lo Wai-pak, who retires on August 31 after serving as CEO for eight years, the developer said in a statement on Friday.
Tsoi's appointment marks......
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07.08.26 - 10:18
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Hong Kong′s US dollar peg faces fresh calls for review – but is change feasible? (SCMP)
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The Hong Kong dollar's four-decade-old peg to the US dollar is facing fresh calls for review, after a local financial industry body urged greater use of the yuan and floated the idea of shifting to a basket of major currencies and gold – though financial analysts argue the current system is likely to remain in place.
The proposal to revisit the pegged exchange rate system was submitted this week by the Hong Kong Securities and Futures Professionals Association (HKSFPA), as the government gathers......
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07.08.26 - 05:24
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Hong Kong′s Iconic Diners Go Global (Bloomberg)
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Hong Kong has exported everything from cinema to finance. Now, its iconic cha chaan teng diners are going global too. Mary Hui explains how these humble cafes have become a symbol of culture, migration and identity. (Source: Bloomberg)...
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07.08.26 - 05:06
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Hong Kong preferred base as Chinese SOEs consolidate overseas accounts in treasury hubs (SCMP)
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China's central state-owned enterprises (SOEs) are consolidating scattered overseas accounts into unified treasury hubs, with Hong Kong emerging as the preferred base amid a broader crackdown on outflows of state cash.
Decades of overseas expansion had seen many SOEs build up assets in multiple jurisdictions, leaving cash management fragmented and making it harder for regulators and company headquarters to track liquidity, foreign-exchange risk and cross-border financing, analysts said.
Central......
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07.08.26 - 02:00
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Gold′s price potential still ′explosive′ amid Beijing hoarding, Hong Kong trading push (SCMP)
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Gold prices have “explosive” upside potential, according to analysts, boding well for Hong Kong's ambitions as a trading hub as Asian central banks continue to have a voracious appetite for stockpiling bullion.
Supporting the outlook, Beijing – which has added to its gold reserve for 20 straight months – wants to better connect the Shanghai Gold Exchange to Hong Kong, and the South Korean central bank plans to buy gold for the first time in 13 years.
“Gold remains in an explosive phase of the......
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07.08.26 - 01:00
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From Hong Kong′s bond futures to SpaceX: the numbers moving markets (SCMP)
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China's push for treasury bond futures in Hong Kong has been well received, with brisk trading reflecting strong hedging demand. On the other side of the Pacific, Elon Musk's aerospace company, SpaceX, has published its first-ever quarterly financial statement as a public entity, offering a glimpse into the company's future.
Here are some of the figures that have drawn the most market attention this week.
3,755 contracts traded on China bond futures launch
Hong Kong Exchanges and Clearing rolled......
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06.08.26 - 15:30
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Coded for glamour and glory, AI make-up arm steals the show in Hong Kong hackathon (SCMP)
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Imagine a woman sitting at her vanity as a robotic arm reaches across the table, picks up her lipstick, and applies it to her lips while running through her morning schedule.
Meet Iron Bestie, a personalised make-up assistant that just snatched top honours at what organisers billed as Hong Kong's first physical artificial intelligence hackathon, beating more than 160 global competitors in an intense 48-hour hardware-meets-software sprint this week.
Powered by vision-language models and voice......
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06.08.26 - 14:18
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Hong Kong raises Silver Bonds coupon rate to 4.25% for latest batch (SCMP)
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Hong Kong is raising the guaranteed coupon rate for its 11th batch of Silver Bonds for senior citizens, amid market expectations that the US Federal Reserve will raise interest rates later this year.
Up to HK$50 billion (US6.4 billion) of Silver Bonds will go on sale this month with a guaranteed annual coupon of 4.25 per cent, up from 3.85 per cent for the batch sold in September last year, the government announced on Thursday.
The three-year bonds will be on sale from 9am on August 21 until 2pm......
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06.08.26 - 12:30
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Swire earnings show Hong Kong′s prime commercial districts outpacing others in recovery (SCMP)
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Hong Kong's commercial property recovery is increasingly becoming a story of location, with the fortunes of the city's biggest landlords diverging depending on the districts where they own office space.
Swire Properties' first-half results on Thursday captured that shift. The developer owns office towers in both Admiralty, next to Central's financial district, and Quarry Bay, an eastern business hub that has long attracted tenants seeking spaces with lower rents than those in pricier areas like......
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06.08.26 - 09:09
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Aktien Asien: Gewinnmitnahmen im Technologiebereich (DPA-AFX)
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SEOUL/TOKIO/HONGKONG/SHANGHAI (dpa-AFX) - Die asiatisch-pazifischen Aktienmärkte haben am Donnerstag überwiegend nachgegeben. Dabei standen technologielastigere Börsen stärker unter Druck.Marktteilnehmer sprachen von Gewinnmitnahmen nach ......
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06.08.26 - 06:00
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Hong Kong stock regulator flags more companies for share concentration (SCMP)
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Hong Kong's securities regulator has put a spotlight on highly concentrated shareholding this year, a move interpreted by market analysts as a warning about sharp price swings on small-cap stocks.
As of August, the Securities and Futures Commission (SFC) had mentioned 13 cases of high shareholding concentration on the Hong Kong stock exchange, compared with 15 for the whole of last year. The figures marked a 30 per cent rise from 2024 and a twelvefold jump from 2023.
For example, the controlling......
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06.08.26 - 05:42
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Expats Return to Hong Kong Seeking Lower Taxes, Jobs (Bloomberg)
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Hong Kong is experiencing an influx of white-collar professionals, with thousands of people making their way back to the city due to a booming initial public offering market and planned tax breaks. Bloomberg's Diana Li breaks down the developments. (Source: Bloomberg)...
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06.08.26 - 04:00
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Shares of major Hong Kong insurance, finance firms tumble following report of 20% levy (SCMP)
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Shares of major Hong Kong-listed insurance and financial institutions tumbled on Thursday, after reports surfaced that mainland Chinese authorities had begun taxing gains on offshore insurance policies bought by mainland visitors in the city, reviving fears of tighter curbs on cross-border capital flows.
In early trading as of 9.45am, Prudential, whose Hong Kong hub was its biggest profit driver last year, fell 5.9 per cent, while pan-Asian life insurer AIA Group dropped 6.6 per cent. Major......
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05.08.26 - 13:06
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Peninsula group to renovate Hong Kong flagship, Tokyo hotel in US$268m project (SCMP)
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The owner of Hong Kong's iconic Peninsula hotel plans to invest HK$2.1 billion (US$268 million) to renovate its flagship hotel in the city and its Tokyo property, betting on the long-term strength of the luxury travel market despite geopolitical uncertainty and volatile consumer demand.
Hongkong and Shanghai Hotels (HSH), which owns and operates The Peninsula hotel chain, announced the renovation plan on Wednesday alongside interim results showing a return to profit after stronger performances......
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