Money /

Money News

Related Topics:
Banking & finance
Passengers pay for the Star Ferry from Tsim Sha Tsui to Central next to an advertisement for Alipay on December 19, 2024. Photo: Jelly Tse
Fintech

Digital wallets are finally taking hold in Hong Kong, report shows

A survey found that 42 per cent of Hongkongers use Alipay and 22 per cent use Apple Pay, but credit cards are likely to remain relevant.

Hong Kong economy

Exclusive | Yacht haven: Hong Kong aims to be growth hub for leisure-boat industry

Banking & finance

China ‘national team’ mounts intervention amid market slump, tariff war

videocam
4
Banking & finance

Goldman trims 2025 targets for Chinese stocks as Trump tariffs slam markets

Goldman trims its 12-month upside targets for the MSCI China Index and CSI 300 Index, after a bullish upgrade in mid-February.

videocam
Electronic boards show Shanghai stock data and other market indices on April 3, 2025. Photo: Reuters
Electronic boards show Shanghai stock data and other market indices on April 3, 2025. Photo: Reuters
Banking & finance

HSBC shareholders buzz about freebies, have fewer dividend gripes

Many stockholders praised bank’s strong performance last year, adding that they supported new strategies to cut costs and achieve growth.

Banking & finance

Exclusive | Chelsea owner Todd Boehly eyes Hong Kong and Macau for new ventures

The American tycoon spots potential for fintech, sports and entertainment expansion in Hong Kong and Macau.

Advertisement
Advertisement
Advertisement
Wealth management

Hong Kong finance chief sees US$20 billion of IPOs this year on tech optimism

Companies could raise between US$17 billion and US$20 billion this year, Paul Chan tells tech forum.

Hong Kong is hosting three major financial events towards the end of this month. Photo: Sam Tsang
Hong Kong is hosting three major financial events towards the end of this month. Photo: Sam Tsang
Banking & finance

Hong Kong SMEs want funding support amid mounting costs, survey finds

More than half of the businesses surveyed by DBS hope the financial secretary will reveal some support for them in his budget address.

Yuan

Chinese yuan surges after Trump goes easy on China in inaugural address

The Chinese currency jumped against the US dollar as trade war worries receded, but some fear the gains may be ‘short-lived’.

Wealth management

Blackstone to train Hong Kong wealth managers as private assets gain favour

Alternative asset manager launches Blackstone University programme along with Private Wealth Management Association.

The Blackstone Group headquarters in New York City, pictured on January 18, 2023. Photo: Reuters
China stock market

Which presidential nominee is better for China’s stocks: Trump or Harris?

No matter who wins, geopolitical tensions will continue to haunt Chinese stocks for another four years, according to Daiwa Securities Group.

12
Republican presidential nominee Donald Trump and Democratic presidential nominee Kamala Harris debate in Philadelphia on September 10, 2024. Photo: AP
Republican presidential nominee Donald Trump and Democratic presidential nominee Kamala Harris debate in Philadelphia on September 10, 2024. Photo: AP
Banking & finance

JPMorgan names new Hong Kong CEO; bank eyes ultra-rich market growth

Kwang, who will remain as the chair of North Asia, will report to Sjoerd Leenart, the Asia-Pacific CEO.

Salaries

Hongkongers are in for a letdown in 2025 as big pay raises fade amid slump: study

The average worker can expect a pay hike of 4 per cent next year, while data science and business intelligence professionals could see a raise of up to 8.3 per cent, WTW study says.

videocam
Banking & finance

Shenzhen authority sells 7 billion yuan of ‘dim sum’ bonds in Hong Kong

The fourth offering in the last four years, which will fund an array of infrastructure projects, brings total funds raised to US$3 billion.

The Exchange Square complex in Hong Kong, home to the city’s bourse operator Hong Kong Exchanges and Clearing, pictured on July 19, 2024. Photo: Jonathan Wong
Commodities

Gold, not the US dollar, is the best ‘Trump Trade,’ strategists say

A Bloomberg gauge of the dollar slid more than 10 per cent while the spot price of gold rallied over 50 per cent during Trump’s four years in office.

Republican presidential candidate former President Donald Trump spoke at a campaign rally on July 27, 2024 in St. Cloud, Minn. Photo: AP
Republican presidential candidate former President Donald Trump spoke at a campaign rally on July 27, 2024 in St. Cloud, Minn. Photo: AP
China property

Greater Bay Area home sales surged in June after property market rescue package

Demand for new homes in the Greater Bay Area rebounded last month after Beijing’s historic measures to rescue the property sector took effect. However, a meaningful recovery in prices will take time amid economic headwinds, says Cushman & Wakefield.

videocam
Investing

Sovereign investors look to emerging markets as geopolitical tensions rise: study

Geopolitical tensions have surpassed inflation as the primary concern for sovereign investors, prompting them to invest more in emerging markets and gold, according to the survey by Invesco.

videocam
Advertisement
Advertisement
Advertisement
Hong Kong stock market

Hong Kong paves way for UAE listings, recognising Dubai, Abu Dhabi exchanges

Move to attract more Gulf companies to list comes as government advisory body studies Islamic finance to align the city’s financial infrastructure with the needs of the Middle East.

videocam
Dubai International Financial Centre. Photo: Shutterstock
Dubai International Financial Centre. Photo: Shutterstock
Banking & finance

Deutsche Bank looks to Asia-Pacific wealth management to drive core growth

The German lender wants the region to contribute at least 15 per cent of its global revenue in the next two to three years as it hires senior bankers for its investment advisory, wealth management and private bank in the region, says CEO.

Hong Kong Stock Exchange

Hongkongers happy to let the interest roll in even as outlook improves: survey

Local investors would only consider reallocating from cash and deposits into investment products when interest rates come down to 2.5 per cent, according to a survey by the Hong Kong Investment Funds Association.

videocam
China stock market

Explainer | What is ETF Connect? How does it help global investors tap China’s stock market?

China is further opening up its US$8.4 trillion stock market by offering 85 new exchange-traded funds (ETFs) tracking mainland equities through the cross-border trading channel for offshore investors next week.

videocam
ETFs, which are funds that pool together a basket of securities and aim to offer returns that mirror the underlying market, are becoming increasingly popular in Asia. Photo: Shutterstock
Banking & finance

Exclusive | Wealth Management Connect revamp sent investment skyrocketing, says ICBC

Improvements to the Wealth Management Connect scheme in February have proven to be a game-changer, with investment via the cross-border trading channel quadrupling between January and April, according to government data and ICBC.

videocam
ICBC Asia has seen a fourfold increase in the number of customers opening accounts under the Wealth Management Connect initiative. Photo: Bloomberg
ICBC Asia has seen a fourfold increase in the number of customers opening accounts under the Wealth Management Connect initiative. Photo: Bloomberg
China stock market

‘Signs of life’ in China’s markets as reforms boost confidence, forum told

Global investors’ pessimism about China may no longer be well placed, as policies designed to bolster confidence are likely to spell better times ahead for the market, senior financiers told a conference.

videocam
Banking & finance

Chinese banks follow belt road to expand loan book amid tight liquidity at home

Chinese banks are heading overseas to extend yuan loans to fund Belt and Road Initiative projects

Banking & finance

Hong Kong to enhance cross-border transfers to support retirees

Hong Kong’s monetary authority plans to sign an agreement with the Chinese central bank to find ways to enhance cross-border remittance services to make it easier for Hongkongers who work or retire on the mainland.

A sign of digital yuan (e-CNY) during the 2021 China International Fair for Trade in Services (CIFTIS) in Beijng on Sept. 5, 2021. Photo: Xinhua
Help preserve 120 years of quality journalism.
SUPPORT NOW