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How will Trump victory affect China’s shift away from US dollar assets?

Risk of financial sanctions prompts Beijing to rethink where it parks its massive foreign exchange reserves.

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Not ‘whatever it takes’: China’s stimulus strategy seen as long and intact

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China unveils debt-relief plan, keeps further stimulus salvo in reserve arsenal

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DBS buys entire 75th floor in The Center in bullish sign for office market

The latest purchase from ‘Cassette King’ Chan increases DBS’s ownership to 11 floors in what was once the world’s most expensive tower.

The exterior view of The Center building in Central, once the world’s most expensive office tower. Photo: Nora Tam

China adds 6 trillion yuan in relief for ‘debt bombs’ – as it happened

China’s top legislative body approved additional debt relief for local governments and promised more support next year.

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GCash not rushing to launch IPO due to strong financial position: chairman

Ernest Cu, chairman of the Philippine mobile payments giant, says the initial public offering ‘should be ready very shortly’.

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HSBC job losses to begin in weeks amid lender’s sweeping overhaul

The head of HSBC Holdings’ new global wholesale banking unit said the lender aims to wrap up its restructuring ‘very quickly’.

People pass an HSBC branch in Mong Kok on October 22, 2024. Photo: Nora Tam

Fed rate cut gives China room to move as Beijing eyes more economic stimulus

US Federal Reserve lowered its benchmark rate less than a day before China is expected to release its latest economic stimulus plan.

Hong Kong’s base interest rate drops to 5% in second cut

Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.

US Federal Reserve eases rates with quarter-point cut

Fed chairman Jerome Powell is expected to be questioned on Thursday about economic impact of Trump’s US election victory.

A screen on the floor of the New York Stock Exchange shows the Federal Reserve rate decision on Thursday. Photo: AP

Ant International drives AI in cross-border payments to boost global expansion

The firm’s AI model predicts currency exchange rates on an hourly basis, helping businesses reduce transaction costs.

Ant International’s new AI model for cross-border transactions is expected to strengthen global trade and commerce. Photo: Shutterstock

Macroscope | The most important part of China’s fiscal stimulus? Expectation management

As Beijing prioritises stability and development over reflation, investors must reconcile themselves to the realities of Chinese policymaking.

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What does Trump’s election win mean for the price of gold?

Price falls as investors take profits from earlier gains, but longer-term prospects are bullish due to trade and inflation uncertainties.

Wall Street stocks, bitcoin, US dollar soar following Trump win

However, concerns about inflation and higher interest rates emerged, leading to a decline in Treasury bond prices and European stock markets.

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A monitor shows a CNBC broadcast at the New York Stock Exchange after Republican Donald Trump won the US presidential election. Photo: Reuters

China’s yuan falls sharply as Donald Trump declares US election win

Exchange rate between US dollar and yuan could become a bargaining chip in negotiations between China and the US on tariffs, analyst says.

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A bank employee counting Chinese yuan in Haian, Jiangsu province. Photo: NurPhoto via Getty Images

China’s developers borrow more to satiate their thirst for funding

Bond financing in the property sector rose for the second month in October, rising 3.2 per cent from last year to 29 billion yuan, according to the China Index Academy.

Why is China planning to issue US dollar bonds in Saudi Arabia?

The Ministry of Finance says it will sell up to US$2 billion of notes in Riyadh next week.

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Editorial | Hong Kong’s Exchange Fund has done well but it’s still too early to celebrate

Global markets face a lot of uncertainties, so prudence and a diversified investment strategy remain key for Hong Kong’s ‘war chest’.

Hong Kong’s Exchange Fund is the war chest used to defend the local currency. Photo: K. Y. Cheng

‘Haersi’ soars as Chinese traders punt on meme stocks in US election

A vacuum-flask maker rises and falls with polls favouring Harris, while an aviation software company gets a Trump bump.

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Hong Kong leads Greater Bay Area in finance, logistics and tourism: index

City also tops the charts in culture and sports, according to an index by Our Hong Kong Foundation (OHKF) and Dah Sing Bank.

ETFs are the hottest new products in Hong Kong’s roller-coaster rally

Net fund flows have surged 48 per cent year on year, with an ETF tracking the Hang Seng Index surpassing Tencent in daily volume.

A view of Connect Hall at Hong Kong Exchanges and Clearing in Central. Photo: Jonathan Wong

In stimulus signal, China’s top legislature mulls debt swap plan on first day

China’s top legislative body is reviewing local debt swaps on the first day of its session, suggesting more fiscal stimulus could arrive.

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China’s top legislative body is meeting in a closely watched session likely to address several pressing economic issues. Photo: AFP

The View | China’s property prospects aren’t all doom and gloom

Despite lagging investment, mainland Chinese and Hong Kong real estate markets still have unappreciated long-term growth opportunities.

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US$10 million fashion fail prompts Anwar to probe Malaysia sovereign fund picks

The loss of Khazanah’s investment in an online fashion retailer has sparked outrage among a public still sensitive after the 1MDB scandal.

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Start-up spurs Xiaohongshu-ready ‘experiences’ in Hong Kong

Strategy also seeks to capture anticipated growth in visits by Western tourists who spend more per capita.

Tourists explore the scenic Lions Pavilion at The Peak during the National Day ‘golden week’ holiday on 2 October 2024. Photo: May Tse

Hong Kong’s financial war chest posts record gain of US$28.8 billion

Lawmakers asked whether the fund could give more to address the government’s deficit, but HKMA’s CEO urged sticking with an existing formula.

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Hong Kong Monetary Authority CEO Eddie Yue Wai-man, pictured at a media briefing on November 4, 2024. Photo: Enoch Yiu

Meet Amy Griffin: the G9 Ventures founder’s cut deals for Spanx, and Goop

Her husband John Griffin was the founder of major hedge fund Blue Ridge Capital, but Griffin carved her own niche in venture capital by focusing on female-led unicorn start-ups and building relationships.

IMF welcomes US-sanctioned former Russia central banker

Former first deputy governor of Bank of Russia Ksenia Yudaeva has been elected as the IMF’s executive director for Russia and Syria.

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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
last updated:
19 September, 2024
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