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Banking & finance

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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Retail use of the regulated cryptocurrency is expected as early as the end of the year, according to Anchorpoint Financial. Photo: Shutterstock Images
Hong Kong

Hong Kong stablecoin list expands with Standard Chartered-led firm’s launch

Anchorpoint Financial kicks off institutional use of its Hong Kong dollar-linked stablecoin, HKDAP.

Gold in Hong Kong

Why Fed moves trump geopolitical risks, China gold buying in analysts’ forecasts

Hong Kong stock market

Hong Kong seeks tech exposure amid Beijing’s rising AI dominance

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China stock market

China’s quant funds have edge on foreign rivals, as Beijing curbs trading speed

Top US quant teams unable to beat native competitors in mainland China unlike in Japan or India, despite regulatory clampdown on trading.

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China’s quantitative funds have built trading strategies so closely tailored to the market that foreign rivals cannot replicate them, a prominent economist has said. Photo: Shutterstock
HKEX

Exclusive | HKEX to launch debate over extending trading hours despite pushback, sources say

The discussion paper could pave the way for Hong Kong’s bourse operator to introduce longer opening times, helping it attract global investors.

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China economy

China reformed its tax rules in 2018. Why is it now pushing stricter enforcement?

Declining fiscal revenue is prompting tax authorities to scrutinize offshore trusts and equity gains.

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China stock market

What are China’s quantitative trading funds, and why are they so controversial?

China’s quant funds face scrutiny from retail traders and regulators, driven by their large returns and use of AI.

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Critics argue that AI-driven strategies exacerbate volatility in a market still dominated by more than 250 million retail investors. Photo: Getty Images
US-China trade war

US faults China over vague overseas lending, warns of emerging-market debt risks

US State Department introduces tougher disclosure requirement covering sovereign loans, liabilities and collateral.

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Robotics

Unitree IPO deluge masks humanoid robots’ limitations

Retail investors subscribed for more than 5,500 times the shares on offer in Unitree Robotics’ offering amid hype about advances for humanoid robots and a run of Shanghai IPO windfalls.

Yuan

China’s central bank eyes global yuan in first solo 5-year plan in over a decade

The strategy signals Beijing’s push to build a ‘strong central bank’ capable of driving its financial powerhouse ambitions, analyst says.

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Beijing’s push for yuan internationalisation is seen as crucial to reducing dependence on US dollar-denominated channels. Photo: Getty Images
China stock market

Gold breakout rally sends Chinese bullion stocks near record highs

Sovereign-debt risks and reserve diversification seen helping revive investor optimism in the precious-metals market.

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The price of gold rose 1.3 per cent to US$4,479 an ounce on Tuesday. Photo: Shutterstock
Robotics

Unitree IPO frenzy leaves retail investors with 1-in-5,500 odds

Robotics company’s US$900 million Star Market listing offers slimmer odds than recent offerings by CXMT, Moore Threads and MetaX.

National Financial Regulatory Administration (China)

China’s banks look to unload US$8.2b in bad credit-card loans

The pace of disposal efforts has accelerated since July, coinciding with the country’s slowing economy.

Hong Kong property

Hong Kong’s commercial property investment growth beats Asian peers

‘Highly active’ market in city tops Singapore and Australia, although base effect, assets in receivership contribute to increase, JLL says.

One Bedford Place, a distressed office tower in Tai Kok Tsui, was purchased by Singapore-based investor Wee Hur Holdings in June. Photo: Handout
Bonds

China’s panda bond market surges as Goldman Sachs flags limits to yuan expansion

Issuance of yuan-denominated debt surges, including in dim sum bond market, but sustained global use of yuan seen requiring broader access and stronger finance links.

Yuan notes are counted at a bank in China’s Jiangsu province. According to a Goldman Sachs analyst, “the current bond-issuance boom is a historic opportunity”. Photo: Reuters
Wealth management

In Focus | Beijing hits super-rich with 20% offshore tax. What does it mean for Hong Kong?

For decades, Hong Kong has prospered by managing the wealth of Asia’s elite. Will that change as China introduces tougher offshore tax policies?

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Stocks

Macroscope | Behind the AI stock market bubble lies a weak yen

The tech stock boom, financed in large part by the yen carry trade, is at risk of collapse if the currency strengthens.

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Hong Kong Monetary Authority (HKMA)

Everything you need to know about Hong Kong’s US dollar peg

As global investors shift away from US dollar assets, Hong Kong is tied to the US dollar to maintain a stable exchange rate.

The Hong Kong Monetary Authority logo at Two IFC. Photo: Jonathan Wong
Shenzhen

Meet the next generation of Chinese stars making their mark in global finance

New finance talent brings analytical discipline and cross-cultural fluency across global asset management, crypto and quant trading.

Hong Kong property

Investor linked to Ningbo’s richest man buys Hong Kong luxury home for US$18.5m

Deal adds to signs of mainland Chinese wealth entering the city’s high-end residential market despite a slowdown in overall activity.

IA

Don’t panic: China says 20% offshore insurance tax does not target Hong Kong

Beijing urged the market not to overreact to the policy – which it stressed was not new – after reports of the tax triggered a sell-off in Hong Kong.

The share prices of major financial firms in Hong Kong dipped on Thursday, after reports of that Chinese authorities had started levying a 20 per cent tax on gains from offshore insurance policies. Photo: SCMP/Sam Tsang
China-Africa relations

China’s Africa loan pivot turns it into a debt collector

China’s retreat from big loans has made Africa a net repayer, as Beijing turns its focus to smaller, more selective projects.

Chinese-built railways like Nigeria’s Lagos-Ibadan line reflect the megaproject era of Beijing’s lending in Africa, now giving way to a more cautious phase. Photo: Xinhua
Yuan

Hong Kong’s US dollar peg faces fresh calls for review – but is change feasible?

Economists and financial analysts warn abandoning the anchor would pose risks that far outweigh potential rewards.

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China stock market

Global AI trade revival brightens outlook for Chinese tech stocks

Improved corporate earnings and a broader global tech rebound are helping stocks bounce back from a record monthly decline.

Mainland China

Hong Kong preferred base as Chinese SOEs consolidate overseas accounts

City’s attractions include international banking system, deep capital markets, offshore yuan pool and close links with mainland.

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Hong Kong is becoming a hub for central state-owned enterprises’ treasury centres. Photo: Jelly Tse
Gold in Hong Kong

Gold’s price potential still ‘explosive’ amid Beijing hoarding

Rising demand from central banks to drive a rebound despite temporary downside pressure from energy and interest rates, Goldman Sachs says.

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South Korea’s central bank announced earlier this week that it would end a 13-year hiatus on gold purchases. Photo: Reuters
Hong Kong stock market

From Hong Kong’s bond futures to SpaceX: the numbers moving markets

Hong Kong’s sovereign debt debut, SpaceX’s first public earnings and shifting energy markets are all in the spotlight.

China-Latin America relations

Argentina extends US$19 billion China currency swap despite US pressure

Buenos Aires locks in the yuan line until 2031, months after the US Treasury Department offered a rival facility.

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