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Hong Kong Monetary Authority (HKMA)
Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Traders work at the New York Stock Exchange on Thursday. Photo: Reuters
United States

S&P 500, Nasdaq gain on boost from US-Japan tariff talks

Indexes had extended losses on Wednesday after US Fed chair Jerome Powell warned Trump’s trade policies risked pushing inflation.

European Union

ECB cuts interest rates for 7th time in a row amid global trade tension

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Bonds

Opinion | How Trump is chipping away at the US’ safe-haven status

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Donald Trump

Trump slams US Fed chair Powell, urges ‘termination’ for slowness

It was not immediately clear if Trump was referring to the scheduled end of Powell’s term, or if Trump was seeking to remove Powell as chair.

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US Federal Reserve Chair Jerome Powell speaks at the Economic Club of Chicago on Wednesday. Photo: AFP
Hong Kong

Hong Kong banks face highest bad-loan risk in Asia-Pacific from US tariffs: Fitch

Higher US tariffs could weaken banks’ profitability and asset quality in export-reliant markets, rating agency says.

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IPO

Chinese tea firm Chagee raises US$411 million in New York IPO, sources say

At US$28 per depositary share, Chagee will be valued at US$5.1 billion, according to its regulatory filings.

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US-China trade war

‘So inept’: Trump’s tariff war is hurting all US assets, investor warns

The trade war ‘puts the US in a bad situation’ as it accelerates a shift away from the dollar, veteran investor Mark Dowding says.

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US President Donald Trump’s aggressive tariff policies are undermining confidence in US assets, according to investment veteran Mark Dowding. Photo: EPA-EFE
United States

Wall Street sinks after US Fed warning, as Nvidia leads decline in tech stocks

Chairman Jerome Powell says the US central bank will not intervene to calm markets roiled by Trump’s tariff war.

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HSBC

Hang Seng Bank promotes son of Hong Kong leader John Lee in China-unit reshuffle

The management changes in the bank’s mainland unit come at a critical time amid the US tariff campaign, a broker says.

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Family offices

‘Your capital is safe’ in Hong Kong, financial secretary reassures family offices

The China-US tariff war underscores Hong Kong’s soundness as a stable destination for wealthy families’ investments, Paul Chan says.

Financial Secretary Paul Chan Mo-po speaks at the Deutsche Bank Emerging Markets Family Office Forum in Hong Kong on April 16, 2025. Photo: Handout
IPO

Shenzhen pork producer, Beijing AI firm eye Hong Kong listings

Sixteen companies submitted listing applications for Hong Kong’s main board in the past two weeks, according to exchange data.

A staff member checks on piglets at a Muyuan Group facility in Nanyang City, in central China’s Henan Province, on March 21, 2024. Photo: Xinhua
Wealth management

Wealthy investors look to Europe, Asia amid US tariff risks: Deutsche Bank

Conversations around diversification and hedging have grown since US tariffs became a reality, Deutsche Bank executive says.

HSBC

Exclusive | HSBC to offer anti-ageing treatments, medical check-ups at Hong Kong wealth hub

The wealth centre, which will open in the second half, is aimed at the growing silver economy, HSBC Life’s Daisy Tsang says.

Donald Trump

Trump’s trade war sends dollar to 6-month low, sparking investor concerns

The Bloomberg Dollar Spot Index has fallen about 6.1 per cent this year, on track for its biggest annual loss since 2017.

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The Bloomberg Dollar Spot Index fell for a fifth day on Monday, losing a total of 3.3 per cent during that stretch. Photo: EPA-EFE
India

Indian jeweller wanted over US$1.8 billion fraud, arrested after 7-year manhunt

Mehul Choksi, accused in one of India’s biggest bank frauds, was arrested in Belgium, plans to challenge extradition, citing health issues and cancer treatment.

Indian jeweller Mehul Choksi wanted over US$1.8 billion PNB fraud arrested in Belgium. . Photo: Instagram/bhartiyapolitics
Donald Trump

Battered dollar drifts lower on tariff nerves

Investor confidence in the world’s reserve currency in question following stream of tariff pronouncements from US President Donald Trump.

Donald Trump

US Treasury market sees historic yield curve steepening amid Trump’s trade war

Investors demanding higher yield to own 30-year Treasuries over two-year maturities has increased for nine straight weeks.

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Hong Kong Monetary Authority (HKMA)

Hong Kong to unveil 3 e-banking security measures to combat financial fraud

The HKMA’s ‘E-Banking Security ABC’ measures will enhance online banking security, deputy chief executive Arthur Yuen says.

The HKMA has stepped up its vigilance against online banking fraud. Last year, the city’s residents lost HK$9.15 billion to scamsters. Photo: Jelly Tse
Millionaires and billionaires

Who is BlackRock CEO Larry Fink, new ‘darling of the Maga movement’?

Fink co-founded the investment management firm in 1988 and lives in the ultra-wealthy community of North Salem with his wife Lori, where they famously bought Finch Farm from actor Stanley Tucci.

Donald Trump

Investors urged to diversify amid Trump’s tariff war and market volatility

Experts urge investors to diversify into alternative assets like private credit for stability and growth.

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Hong Kong economy

Weaker yuan boon for Hong Kong shoppers but bane of retail sector: analysts

Beijing’s stimulus roll-out may also trigger more mainland consumption at the expense of Hong Kong’s retail, dining scene.

Diners at a restaurant in COCO Park shopping centre in Shenzhen. Photo: Dickson Lee
Indonesia

Rich Indonesians concerned about Prabowo’s policies send wealth overseas

The shift began in October when Prabowo came to power but accelerated substantially after the rupiah plunged in March, people have said.

A worker counts US dollar and rupiah notes at a money changer in Jakarta, Indonesia. The rupiah on Wednesday fell to its lowest in history against the dollar before rebounding slightly on Thursday. Photo: EPA-EFE
Americas and the Caribbean

Argentina seals US$20 billion IMF deal, tears down currency controls

The IMF will first disburse US$12 billion, with another US$2 billion by June, as Argentina’s central bank set to undo fixed currency peg.

US-China trade war

Economist says China’s overseas assets at risk as trade war hits boiling point

Yu Yongding, a former central bank adviser, says Beijing’s foreign holdings could become another battleground in the US-China trade war.

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HKEX

US delisting of Chinese stocks may make Hong Kong great again

A total of 286 Chinese firms are listed in the US with a total market capitalisation of US$1.1 trillion.

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An exterior view of the New York Stock Exchange (NYSE). A total of 286 mainland Chinese companies are listed on US exchanges including NYSE. Photo: AFP
Hong Kong stock market

Chagee, Miniso shrug off US delisting concerns amid Trump tariff war

Any delisting move may benefit the stock exchange and deal bankers in Hong Kong, CreditSights says.

Chagee will ‘proceed as planned’ with its US$411 million Nasdaq IPO proposal. Photo: Handout
US-China relations

Will China dump US treasuries? Fears of ‘vicious spirals’ in global markets grow

Fears are growing that the US-China trade war could enter an unpredictable – and potentially devastating – new phase.

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WeLab

HKIC backs fintech unicorn WeLab to bring Hong Kong start-ups to Southeast Asia

The Hong Kong government’s investment arm has acquired an unspecified stake in the Li Ka-shing-backed consumer finance company.

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