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Banking & finance
Hong Kong firms use lai see envelopes as marketing tool in digital era
HSBC and ICBC (Asia) promote milestones using lai see envelopes, while the newly rebranded Hong Kong Gold Exchange sends out 60,000 red packets.
1 hour ago
Hong Kong media
Hong Kong tycoon Richard Li to sell HKEJ publisher to PCCW for US$9 million
28 Jan 2025 - 9:54PM
Hong Kong property
Hong Kong’s December mortgages slump 21.1% on higher rates
28 Jan 2025 - 8:15PM
Accounting and auditing
Hong Kong accounting body calls for more expertise in sustainability practices
Some 21 per cent of Hang Seng Index members obtained a ‘reasonable’ score while 53 per cent received a ‘limited’ rating, council report shows.
28 Jan 2025 - 4:34PM
Only one-fifth of Hang Seng Index members obtained a ‘reasonable assurance’ grade in reporting, according to a survey last year. Photo: Shutterstock Images
Banking & finance
Hong Kong’s economy to benefit from capital flow, rate cut: ANZ
City’s economy is likely to grow between 2.5 and 3 per cent, ANZ chief economist Raymond Yeung says.
28 Jan 2025 - 7:30AM
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China property
Vanke gets new chairman from its No. 1 shareholder to spur growth
New chairman’s state-linked background sends positive signals, but company’s fate still depends on a sales recovery, an analyst says.
27 Jan 2025 - 11:22PM
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Banking & finance
Hong Kong’s regulator fines Hang Seng Bank US$8.5 million for misconduct
The SFC found that the bank had engaged in serious misconduct, including excessive fees and soliciting clients for frequent transactions.
27 Jan 2025 - 8:56PM
Hang Seng Bank has been fined by the SFC for overcharging its clients while selling investment products. Photo: Jonathan Wong
Hong Kong Monetary Authority (HKMA)
Hong Kong’s Exchange Fund reports fifth-best return despite fourth-quarter loss
The fund’s return fell 3 per cent in 2024 to HK$219 billion (US$28 billion) due mainly to a loss of HK$20.1 billion in the fourth quarter.
27 Jan 2025 - 6:27PM
China stock market
Beijing unveils US$7.2 billion injection of insurer capital for stocks
China Pacific, Taikang Life and Sunshine Life among the firms putting ‘patient capital’ into A shares to help stabilise the market.
27 Jan 2025 - 3:00PM
Banking & finance
Standard Chartered banks on yuan assets amid US-China tensions
The lender has already seen higher demand for foreign-exchange management and hedging, and the need will only grow, an executive says.
27 Jan 2025 - 8:00AM
China property
Can Shanghai absorb 84,000 homes this year as sales slow, prices rise?
Some 30,000 flats from 270 projects are due to be launched this year, while developers are sitting on an inventory of 54,000 units.
26 Jan 2025 - 3:29PM
Nearly 57,250 new homes were sold in Shanghai last year, 24 per cent fewer than 2023, according to data compiled by a property consultancy. Photo: Getty Images
Bonds
Hong Kong can become multicurrency bond hub with Beijing’s support: experts
Many Hong Kong public bodies have seen increasing interest in multicurrency bonds to attract more international investors, UBS says.
24 Jan 2025 - 7:30AM
Financial crime
HSBC touts 50% increase in suspicious transactions halted in past year
Hong Kong’s largest lender prepares to launch a new alert system, as it works to educate consumers about potential scams.
23 Jan 2025 - 7:45PM
Wealth management
US fund Federated Hermes mulls Hong Kong office to chart Asia growth: CEO
US money manager had US$800.5 billion of assets under management in 2024, including US$3.4 billion in Asia excluding Japan.
23 Jan 2025 - 7:40PM
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Hong Kong property
Shimao’s lender seeks private credit deal on US$1.3 billion loan
The loan, which matures on September 30, is backed by a complex in Hong Kong’s Kowloon Tong neighbourhood.
23 Jan 2025 - 4:29PM
The Beacon Peak project by Chinese developer Shimao in Kowloon Tong, Hong Kong. Photo: Undated handout
Banking & finance
Salary caps spread in China’s finance sector amid ‘common prosperity’ drive
Some state-backed securities firms have already implemented annual pay caps for senior executives – and large banks, insurance firms and stock exchanges are next.
23 Jan 2025 - 3:55PM
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Hong Kong stock market
Hong Kong stocks fall as China’s market-boosting plan disappoints traders
At least 100 billion yuan of insurance funds will funnelled into A shares as part of a pilot programme within the first six months, regulators say.
23 Jan 2025 - 4:36PM
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China stock market
China directs state capital into A shares to anchor stock market
Starting this year, 30 per cent of the annual insurance premium from new policies will be put into yuan-denominated A shares, regulator Wu Qing said.
24 Jan 2025 - 7:11PM
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Wu Qing, chairman of the China Securities Regulatory Commission (third from left) announces new measures to stabilise China’s stock market in Beijing on January 23, 2025. Photo: Xinhua
Banking & finance
HSBC unveils 25-storey tower in Qianhai to drive cross-border collaboration
The bank says it sees ‘huge potential for economic and trade cooperation between Guangdong and Hong Kong’.
22 Jan 2025 - 5:30PM
Banking & finance
Hong Kong’s banks gird for lean times as 9-month profit growth slows
Net interest margin narrowed to 1.5 per cent in the first nine months last year from 1.67 per cent in 2023, according to HKMA data.
22 Jan 2025 - 9:59PM
World Economic Forum
Trump’s threats will only drive countries away from US dollar, economists warn at Davos
US president’s warnings against nations exploring alternative currencies will be counterproductive in the long run, economists argue at World Economic Forum.
22 Jan 2025 - 12:36PM
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China property
Sunac’s onshore debt deal bodes well for China’s troubled property sector: experts
The deal could ‘provide a viable reference model for other embattled Chinese property developers’.
22 Jan 2025 - 5:36PM
Sunac’s logo on a residential compound in Beijing. Photo: Reuters
Hong Kong stock market
Tech stocks lead Hong Kong decline, ending 6-day winning streak
JD.com, Bilibili, NetEase and Alibaba lose ground while New Oriental Education & Technology plunges on weak earnings.
22 Jan 2025 - 4:34PM
Banking & finance
China to allow foreigners to take onshore bonds offshore via repos, derivatives
China is seeking to open up its markets and support Hong Kong’s status as an offshore yuan hub.
21 Jan 2025 - 1:00PM
Bonds
Hong Kong and Macau link bond systems to create larger market
Four new bond issuances worth 3.2 billion patacas (US$401 million), plus 18 secondary-market transactions, settled on first day of linkage.
21 Jan 2025 - 6:41PM
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