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08.06.26 - 14:12
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NWD tests market with 28 Pavilia Rosa flats for sale amid Hang Seng slump (SCMP)
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Hong Kong developer New World Development (NWD) is making 28 units of its Pavilia Rosa project in Kowloon Tong available to buyers on Friday, a test of sentiment and demand in the city's residential property market amid a slumping Hang Seng Index.
NWD said the flats would be sold via a regular price list on a “first come, first served” basis as the developer announced that the project had so far sold 42 residences worth about HK$2.4 billion (US$127.6 million) via a tender.
The launch on Friday......
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08.06.26 - 13:06
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Hong Kong-listed Tencent eyes global note issuance amid AI investment surge (SCMP)
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Chinese tech giant Tencent Holdings plans to issue new notes to international investors in the coming year, joining the fundraising wave by Hong Kong-listed AI companies looking to fund expansion in the rapidly growing sector.
The Shenzhen-based firm updated its global medium-term note programme with a maximum limit of US$30 billion, proposing an international offering to certain professional investors in the coming 12 months, according to exchange filings on Monday.
The net proceeds would be......
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08.06.26 - 10:48
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Hong Kong′s Hang Seng Tech Index welcomes MiniMax, Zhipu in AI milestone amid slump (SCMP)
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Chinese artificial intelligence firms MiniMax Group and Knowledge Atlas Technology were added to the Hang Seng Tech Index on Monday, marking the first inclusion of pure-play AI companies in Hong Kong's benchmark technology gauge, in a move analysts said could drive substantial passive inflows.
The shares moved in opposite directions, as a broader market sell-off weighed on regional benchmarks. MiniMax slid 8.4 per cent to HK$506, while Knowledge Atlas – also known as Zhipu – gained 1.3 per cent......
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08.06.26 - 03:48
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Hong Kong stocks slump as AI rallies in Asia unwind on US rate-increase anxiety (SCMP)
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Hong Kong stocks slumped alongside other markets in Asia, as rising bets on an interest-rate increase after a blowout US jobs report raised the fear of capital outflows from the region and the unwinding of the AI rallies from the Chinese mainland and South Korea.
The Hang Seng Index fell 1.8 per cent to 24,493.50 as of 9.30am local time. The Hang Seng Tech Index dropped 3.1 per cent. The mainland's CSI 300 Index slid 1.9 per cent, while the Nasdaq-styled Star Market 50 Index retreated 4.2 per......
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08.06.26 - 03:06
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AXA, Standard Chartered eye expansion in Hong Kong′s booming offshore wealth market (SCMP)
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French insurer AXA and London-headquartered Standard Chartered will both launch new offerings aimed at capturing high-net-worth clients this week, indicating that the recent regulatory tightening of cross-border investment by mainland investors has failed to dampen plans by international financial firms to expand in Hong Kong.
AXA on Monday will introduce AXA Global Private, a platform targeting high‑net‑worth clients who have HK$10 million (US$1.28 million) to HK$50 million worth of insurance......
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07.06.26 - 03:36
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′It′s the wealth effect′: Hong Kong luxury malls thrive amid IPO gains, housing recovery (SCMP)
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Hong Kong's new status as the world's top cross-border wealth hub, overtaking Switzerland, alongside a recovering local housing market and strong initial public offerings (IPOs), is translating into a boom for high-end malls, with landlords enjoying improved revenues and rents.
Hard luxury and jewellery segments have posted consecutive months of robust growth, though the era of traditional high-street dominance has ended. Industry experts said the market was increasingly defined by targeted......
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06.06.26 - 09:30
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Mainlanders can still open bank accounts in Hong Kong despite new rules: HKMA (SCMP)
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Mainland customers can still open bank accounts in Hong Kong, but banks must adopt stringent new checks to ensure their processes are “compliant and orderly”, the Hong Kong Monetary Authority (HKMA) said in a statement on Saturday.
“The banking industry has implemented the new regulatory requirements set out in the HKMA circular to ensure the account opening process is compliant and orderly,” the statement said. “Chinese mainland customers continue to apply for opening accounts, and in general,......
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05.06.26 - 17:01
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Goldman, JPM Block China, Hong Kong Investors From SpaceX IPO (ZeroHedge)
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Goldman, JPM Block China, Hong Kong Investors From SpaceX IPO
SpaceX's institutional roadshow kicked off Thursday, with JPMorgan CEO Jamie Dimon hosting a "live interactive discussion" for ultra-wealthy clients across 90 JPM locations in 26 states. Shortly after, SpaceX's IPO slide deck was made public, likely in a bid to supercharge retail demand for what could be the largest public listing in history. However, one key investor pool appears to be shut out: China and Hong Kong.
Bloomberg News reports that SpaceX's underwriters have blocked investors in China and Hong Kong from participating in the company's planned IPO, citing regulatory and compliance concerns.
Goldman Sachs and JPM, the lead banks managing the $75 billion offering, instructed syndicate members not to accept orders from China- and Hong Kong-based customers, including private banking clients.
In total, SpaceX plans to sell about 555.6 million shares at a price of $135 per share, which would net the space, rocket, AI, and d...
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05.06.26 - 12:48
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Hong Kong taps banks, lawyers and crypto firms to help rewrite rules for tokenised bonds (SCMP)
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Hong Kong's de facto central bank has formed a group of industry experts to help remove legal and regulatory hurdles to tokenized bonds, as authorities seek to move beyond pilot projects and encourage wider adoption from private issuers.
The Hong Kong Monetary Authority (HKMA) said on Friday it had established a Tokenised Bond Expert Group comprising 21 institutions spanning banks, law firms, market infrastructure providers and digital asset companies to support the development of the city's......
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05.06.26 - 12:18
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Chinese, Hong Kong Investors Banned from SpaceX IPO (Bloomberg)
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Underwriters on SpaceX's $75 billion initial public offering have been told not to accept orders from investors in Hong Kong and China, due to regulatory and compliance risks related to US restrictions around the export of critical technology. Benedikt Kammel reports on Bloomberg Television. (Source: Bloomberg)...
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05.06.26 - 10:54
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Mainland China′s investors face new hurdles as Hong Kong brokers tighten rules (SCMP)
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Shenzhen-based AI engineer Sihan Wang recently decided to liquidate all holdings in his Futu Securities account, which he opened a year ago, citing concerns that escalating regulatory oversight could restrict his ability to manage overseas investments.
“I would rather step back now than risk having my funds caught up in future restrictions,” Wang said. He is now considering shifting capital into mainland-listed gold products and mutual funds.
Wang's move reflects a broader squeeze on mainland......
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