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Hong Kong regulators are exploring the use of more autonomous AI agents across some services. Photo: Shutterstock
Banking & finance

Hong Kong expands AI sandbox with new projects spanning dozens of partners

Regulators select 36 use cases involving dozens of financial institutions and tech partners to test AI use in onboarding, payments, claims and customer service.

HKEX

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

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

New business profit increases 8 per cent to US$1.38 billion in first half as market braces for potential fall in number of mainland visitors.

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A banner featuring the Prudential logo atop a building in Tsim Sea Tsui, Hong Kong. Photo: Handout
A banner featuring the Prudential logo atop a building in Tsim Sea Tsui, Hong Kong. Photo: Handout
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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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.

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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.

The DeepSeek logo on a wall in Hangzhou, eastern China's Zhejiang province. Photo: Getty Images
The DeepSeek logo on a wall in Hangzhou, eastern China's Zhejiang province. Photo: Getty Images
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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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.

Gong Cha operates almost 2,200 stores in 33 markets worldwide. Photo: Nora Tam
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
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.

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.

While the final offer price and total proceeds have yet to be set, the planned size of YMTC’s listing signals a massive fundraising push. Photo: Reuters
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
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.

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.

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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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Illustration: Henry Wong
Illustration: Henry Wong
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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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.

The impact of Beijing tax policy changes will be negligible, according to Ping An executives. Photo: Shutterstock
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
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.

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.

A photo taken on December 3, 2022 shows a housing complex by Chinese property developer Evergrande in Huaian, in eastern China’s Jiangsu province. Photo: AFP
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