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Business

Speculative excess may lead to a boom-to-bust scenario, particularly in a country like Sri Lanka where regulation remains uneven, according to analysts. Photo: Getty Images

Markets

Sri Lanka’s property boom gives Chinese developers hope. But old risks linger

Colombo’s luxury property rally is drawing fresh interest from Chinese-backed developments, but analysts warn against speculative excess.

HSBC to open new wealth centre in Abu Dhabi despite regional conflict

Good morning Vietnam: Chinese brokers eye springboard for overseas expansion

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Banking & Finance

Hong Kong burnishes gold hub credentials with local refineries deal

The agreement will see gold refineries localise production in Hong Kong, allowing the city to create a complete gold trading ecosystem.

Gold ingots are seen on the production line at a non-ferrous metal company in the eastern Chinese city of Tongling. Photo: Getty Images
Gold ingots are seen on the production line at a non-ferrous metal company in the eastern Chinese city of Tongling. Photo: Getty Images

Companies

Dongshan Precision retail IPO undersubscribed as Hong Kong mega listing flops

Following a nearly 10 per cent slump in the company’s A-share price on Thursday, some institutional investors withdrew large orders.

Politics

China party meeting, stocks slump, HSBC leads earnings

This week: Communist Party officials prepare for key fifth plenum, mainland stocks enter bear market, economic growth picks up. Next week: HSBC, China banks and BYD post earnings, Brazilians vote in presidential run-off, ‘Grandpa Cute’ visits Hong Kong, and more.

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Banking & Finance

Former HSBC insurance veteran joins AIA in latest senior talent move

Appointment follows Mark Tucker’s return to AIA last year, as insurers compete for affluent clients seeking wealth and succession solutions.

Edward Moncreiffe will join AIA Group as regional CEO from November 2. Photo: Jonathan Wong
Edward Moncreiffe will join AIA Group as regional CEO from November 2. Photo: Jonathan Wong

Markets

Citigroup gets Beijing’s approval for wholly owned securities firm in China

Long-awaited move to make Citi seventh foreign securities firm owner in mainland China, where stock markets are worth US$15.6 trillion.

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Investment Products

Hong Kong life insurance sales up 58% in first half but tax headwinds remain

Beijing’s enforcement of taxes on overseas insurance gains will lead some mainland customers to ‘think twice’ before buying, says broker.

Tech Trends

China’s humanoid robots go job hunting in South Korea

Chinese firms test humanoid robots in South Korean factories and cafes as the country races to build a physical AI ecosystem.

Chinese start-up Anyverse Dynamics teamed up with Korean coffee chain Hollys to test robots that serve drinks, clear tables and reset seats at the World Robot Conference in August in Beijing. Photo: Handout

Markets

Market sell-off, tax scrutiny and growth: key figures shaping investor sentiment

A stock market slump, Beijing’s tax enforcement drive and fresh GDP data are among the developments drawing investors’ attention this week.

An electronic monitor displays Hang Seng Index data in Central, Hong Kong. Photo: Edmond So
An electronic monitor displays Hang Seng Index data in Central, Hong Kong. Photo: Edmond So

China Economy

Beijing tightens rules on outbound capital to better shield Chinese assets

China says the new rules for outbound investment are to protect overseas financing and assets.

China Business

Chinese stocks bounce back from bear market on suspected state support

CSI 300 wipes out losses of as much as 2 per cent as key ETF trading volumes surge, indicating possible state-backed buying.

China Economy

Despite greater oversight, China’s investors continue pivot to offshore assets

Property values and low bank deposit rates in China are fuelling demand for wealth management alternatives, Moody’s says.

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Chinese households are increasingly shifting assets away from real estate and bank deposits. Photo: Shutterstock

Banking & Finance

How Hong Kong’s yuan bond market became a key funding source for global banks

Offshore yuan issuance jumps 68 per cent as US banks tap Chinese capital, making it their third-largest funding currency, report says.

The outstanding dim sum bond market reached 1.9 trillion yuan, or about US$284 billion, nearly quadrupling from the end of 2021, according to BofA. Photo: Shutterstock
The outstanding dim sum bond market reached 1.9 trillion yuan, or about US$284 billion, nearly quadrupling from the end of 2021, according to BofA. Photo: Shutterstock

Cryptocurrency

HSBC RedCoin stablecoin launches for 3.3 million PayMe users in Hong Kong

The phased roll-out comes as Hong Kong pushes to establish itself as a hub for digital assets.

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Banking & Finance

Hong Kong targets financial innovation to help ease economic ‘pain points’

Hong Kong must work closely with partners in mainland China and across the Asia-Pacific to meet collective challenges, HKMA head says.

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China Business

China’s drug makers are speeding up – will AI be their secret weapon?

Chinese biotech firms are striking big global deals as drug makers, but could artificial intelligence take them to the next level?

Illustration by Henry Wong
Illustration by Henry Wong

Markets

Can Hong Kong’s listing reform 2.0 win over innovative firms?

The reforms enhance the city’s appeal for AI, biotech and other firms by slashing the market cap threshold and enabling confidential filings.

Big Tech

Competition or ‘co-opetition’: how is convergence shaping Sino-US AI race?

Speech by CEO of Chinese AI start-up at Nvidia event in US highlights symbiotic nature of tech relationship despite geopolitical tensions.

China EVs

How China’s EV makers think they can outrun disastrous price wars

At Beijing’s urging, an industry largely built on discounting must hold the line on prices and convince buyers to pay for better technology.

Illustration: Lau Ka-kuen
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OPINION
Hugh Harsono

Opinion | China’s offshore tax crackdown could inadvertently fuel a digital dollar boom

Hugh Harsono
Tan Poh Hwee

Opinion | Better protection needed as violent cryptocurrency robberies surge

Tan Poh Hwee
4
Djoomart Otorbaev

Opinion | China is no longer just the world’s factory. It’s the HQ

Djoomart Otorbaev
Alex Lo

My Take | How Beijing is neutralising Washington’s sanctions machine

Alex Lo
12
Nicholas Spiro

Macroscope | Who has the upper hand in financial markets, the US or China?

Nicholas Spiro
4
Andy Xie

Opinion | Bad money decisions are coming home to roost for the US and Japan

Andy Xie
8
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MULTIMEDIA
Video

Starbucks Malaysia changed the game for deaf baristas

03:00
Video

Evergrande boss Hui Ka-yan sentenced to life in jail

CCTV
01:29
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Could the world’s second trillionaire come from China?

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02:56
Video

How China’s malls are trying to stay relevant

Wire
02:34
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