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22.06.26 - 05:00
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Hong Kong home sales cool off over Dragon Boat holiday ahead of new projects (SCMP)
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Hong Kong's property market slowed over the Dragon Boat Festival holiday weekend as outbound travel and unstable weather dampened viewing activity, while developers held back major launches ahead of a fresh pipeline of projects expected to hit the market in the coming weeks.
Developers rolled out 104 new homes during the three-day Tuen Ng or Dragon Boat Festival holiday weekend, but only around half had been sold by Sunday, according to Midland Realty, with most sales coming from existing......
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22.06.26 - 03:06
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South Korean investors leverage Hong Kong to cash in on the AI and chips boom (SCMP)
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FOMO (the fear of missing out) is causing some South Korean retail investors to turn to Hong Kong-based platforms to leverage their investments and cash in on the boom in semiconductors and AI.
Analysts attributed the diversion to Hong Kong from the world's 14th largest economy to leveraged products issued by some of the city's financial institutions, its currency advantages, easier access and regulatory arbitrage. However, the number of South Korean investors using Hong Kong-based platforms......
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22.06.26 - 03:00
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Apple supplier Lingyi seeks US$1.1 billion Hong Kong IPO to fund AI and robotics push (SCMP)
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Apple supplier Lingyi iTech is looking beyond smartphones, seeking to raise up to HK$8.3 billion (US$1.1 billion) in a Hong Kong initial public offering (IPO) to fund an ambitious expansion into artificial intelligence hardware and humanoid robotics.
The Shenzhen-listed electronic components maker is expected to debut on the Hong Kong stock exchange on Friday after offering 811.8 million shares at a maximum price of HK$10.18 each, according to a company filing.
The subscription period opened......
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22.06.26 - 02:00
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Hong Kong′s commercial property slump enters new phase as lenders take tougher stance (SCMP)
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The recent decision by mainland developer Yuzhou Group to sell office space in Central at a substantial loss to repay debt underscores a new reality in Hong Kong's commercial property market: banks are increasingly focused on controlling losses rather than delaying them.
Yuzhou said this month it would sell six office units on the 58th floor of The Center for HK$268.8 million (US$34.3 million) and use the proceeds to reduce its debt, crystallising an estimated loss of HK$83 million.
The disposal......
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19.06.26 - 11:06
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Hong Kong singer Eason Chan snaps up US$23m home as celebrities flock to luxury property (SCMP)
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Hong Kong actor and singer Eason Chan bought a HK$182.53 million (US$23.29 million) property in the city's Southern district, according to official records, joining a list of the rich and famous who have recently snapped up luxury homes.
Chan, whose full name on the official record was Chan Yick Shun Eason, purchased the home in Shouson Hill in a deal registered on Wednesday, records from the Land Registry showed.
Agent listings showed that the property had four rooms and a garden, with a......
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19.06.26 - 09:00
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Chinese EV brands signal Southeast Asia expansion at Hong Kong auto expo (SCMP)
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China's electric vehicle makers are using Hong Kong's annual auto expo this week to signal their ambitions in the Southeast Asian market, with some brands rolling out right-hand drive models for the region's roads.
“Our first priority will be Indonesia,” Amy Gong, president of Seres Group subsidiary DSFK, said on the sidelines of the International Automobile and Supply Chain Expo on Thursday. “Expanding manufacturing capacity in the Southeast Asian market depends mainly on demand.”
Built in......
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19.06.26 - 05:00
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Momenta moves closer to Hong Kong IPO after US listing setback (SCMP)
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Chinese autonomous-driving start-up Momenta moved a step closer to a Hong Kong initial public offering after mainland China's securities regulator disclosed a filing notice approving the proposed share sale.
The proposed listing would add another autonomous-driving company to Hong Kong's market, following a wave of capital-raising by Chinese intelligent-driving firms seeking funding for research, product development and commercial expansion.
On Thursday, the China Securities Regulatory......
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19.06.26 - 04:00
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Hong Kong property sales more measured as interest rate increase looms (SCMP)
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Hong Kong homebuyers showed interest in 130 flats put on sale by developers on Thursday evening, but the pace of buying was more measured after an interest-rate increase later this year became more likely.
Agents said 30 of the 75 units put on sale at Phase 4B of La Montagne at the Southside project at Wong Chuk Hang MTR station sold on Thursday.
The two-bedroom units had saleable areas ranging from 484 to 546 sq ft, with prices starting at HK$13.4 million (US$1.7 million) after discounts.
With......
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19.06.26 - 03:36
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Why Hong Kong′s new corporate treasury centre plan could be a game changer (SCMP)
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Hong Kong's latest push to attract corporate treasury centres (CTCs) could prove a turning point in its efforts to lure mainland Chinese and multinational companies, strengthening the city's position as an international financial centre, according to industry participants.
The government last week unveiled an action plan that includes a proposed amendment to the tax regime for corporate treasury centres in the first half of next year.
The changes would expand the scope of interest deductions......
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19.06.26 - 03:00
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Chinese AI improves forecasts as Hong Kong braces for super typhoons (SCMP)
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An artificial intelligence model recently deployed at the Hong Kong Observatory and mainland China's National Meteorological Centre can solve one of the toughest challenges in weather forecasting: predicting when a typhoon will rapidly intensify.
Li Qinglan, a professor at the Shenzhen Institutes of Advanced Technology (SIAT) who is leading the project, said the system was installed around three weeks ago and had provided “real-time updates on the progression of Typhoon Jangmi”.
Jangmi, which......
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