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Exchange Square in Central, where the Hong Kong Exchanges and Clearing is located. Photo: Nora Tam
HKEX

Exclusive | Hong Kong Exchanges and Clearing explores merging GEM with main board: source

The bourse operator is exploring creating a chapter listing rule to absorb 300-plus firms from the GEM board.

Gold in Hong Kong

Hong Kong gold imports fall 18% in July as mainland giants rush to build vaults

Insurance

Prudential’s new business profit growth slows, US$300m share buy-back announced

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Artificial intelligence

MiniMax revenue more than triples but remains behind pace to meet forecast

Despite soaring revenue and enterprise growth, MiniMax’s results underscore the fierce competition with US and Chinese AI labs.

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MiniMax is known for its M-series large language models and popular consumer apps. Photo: Shutterstock
MiniMax is known for its M-series large language models and popular consumer apps. Photo: Shutterstock
Hong Kong stock market

Amos Food hungry for Hong Kong capital to expand global sweets empire

The confectionery firm’s Peelerz gummies have become a viral sensation on TikTok. Now, it aims to raise funds to expand its overseas presence.

DeepSeek

DeepSeek targets 2027 listing as pre-IPO funding nears close: sources

Landmark round to lift Chinese start-up’s valuation to US$74 billion and set the stage for a Shanghai Star Market listing, sources say.

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Hong Kong property

As more expats flock to Hong Kong, luxury home rents poised for further upswing

The top source of foreign finance executives moving to Hong Kong is coming from Europe and the US, says relocation firm.

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Residential property advertisements at a real estate agency in Jordan. Photo: Jelly Tse
Residential property advertisements at a real estate agency in Jordan. Photo: Jelly Tse
Banking & finance

Asia’s super-rich are ‘going all in’ on sustainability as impact investing grows

Asian family offices putting more funds into sustainability projects – and adopting ‘systems-level’ approach to make greater impact, survey finds.

China’s private sector

As bubble tea craze cools in China, can full equity buyouts revive growth?

Bain Capital’s acquisition of Gong Cha may signal a shift in bubble tea investment strategy, as sector slows after years of rapid expansion.

Yuan

How a China gold vault network could promote the yuan’s international reach

By anchoring yuan trades to gold through Hong Kong and new global vaults, Beijing will add convertibility to its currency, report says.

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As of the end of July, China’s gold reserves stood at 76.08 million ounces, marking the 21st consecutive month of accumulation. Photo: dpa
Wealth management

Hang Seng Bank grows wealth network despite Beijing’s tighter capital scrutiny

Hong Kong lender says it is expanding its workforce to capture rising demand from high-net-worth clients.

Pedestrians walk past a Hang Seng Bank branch in the Central district of Hong Kong. Photo: Jelly Tse
Pedestrians walk past a Hang Seng Bank branch in the Central district of Hong Kong. Photo: Jelly Tse
Banking & finance

Alibaba’s record stock sale adds to Hong Kong tech flood

The Chinese tech giant will use the US$10.2 billion in proceeds raised to help fund its artificial intelligence buildout.

Semiconductors

China’s next mega chip listing could break CXMT’s market records

IPO funds to fuel YMTC parent CCSH’s expansion, with nearly US$5 billion set aside to boost chipmaking capacity and accelerate R&D.

Wealth management

Investment market volatility is ‘here to stay’ unless global recession strikes

Rich investors put on notice as AI advancement and geopolitical risks continue to change market structure, causing instability, says Nomura.

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Julia Wang, chief investment officer for North Asia at Nomura International Wealth Management, in Nomura’s office in Central. Photo: SCMP Pictures
Alibaba

Top Alibaba executives purchase US$15m in shares following landmark AI placement

The personal investments from Joe Tsai and Eddie Wu follow firm’s 710 million share sale, one of China’s largest AI fundraising efforts.

The Alibaba booth at the China International Supply Chain Expo in Beijing on July 18, 2025. Photo: AP
The Alibaba booth at the China International Supply Chain Expo in Beijing on July 18, 2025. Photo: AP
Banking & finance

Yuan, Hong Kong dollar bonds surge as issuers seek cheaper funding

Issuance of dim sum, panda and wonton bonds accelerates as Beijing promotes the yuan’s global use and deeper cross-border access broadens demand.

Yuan

Open Questions | US economist Barry Eichengreen on how de-dollarisation could actually look

The former IMF adviser examines how de-dollarisation is gaining pace and what lies ahead for China’s yuan.

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Banking & finance

End of the affair? How China and Wall Street, once so close, are drifting apart

Beijing once courted Wall Street’s titans, hailing them as ‘old friends of China’. But the relationship today is far frostier.

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Wall Street’s relationship with China has grown more distant in recent years. Photo: Reuters
Wall Street’s relationship with China has grown more distant in recent years. Photo: Reuters
Banking & finance

Why Hong Kong’s SK Hynix fund kept full leverage – and left investors strained

The chip fund maintained peak exposure as shares plunged, underscoring risks before regulators rolled out new flexible leverage rules.

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Banking & finance

Ping An eyes Hong Kong ETFs after nod on cross-border investment

China’s largest insurer downplays tax changes, shares positive outlook after reporting 36 per cent profit growth.

Alibaba

What’s next for Alibaba as US$56 billion AI spending plan hits halfway mark?

Aggressive spending strains cash, but Alibaba’s AI cloud growth points to strong long-term returns, analysts say.

The Alibaba cloud unit’s growth has not yet peaked, according to analysts. Photo: Shutterstock
Hong Kong stock market

Hong Kong stock exchange eases listing rules with 12-month application window

Around 500 companies currently have listing applications pending approval in Hong Kong, far above the historical average.

The Hong Kong stock exchange has a large backlog of listing applications, with around 500 companies awaiting approval. Photo: Nora Tam
The Hong Kong stock exchange has a large backlog of listing applications, with around 500 companies awaiting approval. Photo: Nora Tam
Gold in Hong Kong

HKEX gold futures smash delivery record as US sanctions reshape trade

The milestone more than doubles the previous peak recorded in 2018.

China property

Chinese court accepts Evergrande liquidation 1 day after founder’s sentencing

Decision of court in Guangdong province against developer’s main onshore unit Hengda Real Estate punctuates company’s long undoing.

Wealth management

Guotai Haitong unit handed US$7.8m penalty over QDII breaches

The violations involved several QDII products offered between 2019 and 2022, which have ‘since been rectified’, Guotai Haitong said.

Beijing is tightening its scrutiny of capital flows. Photo: Shutterstock Images
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