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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
The expiry of lock-ups adds a layer of uncertainty to Hong Kong stocks, which have underperformed global peers due to limited exposure to artificial intelligence. Photo: Jelly Tse
Hong Kong stock market

Can Hong Kong investors weather US$274 billion lock-up expiry wave?

A surge of freed shares will challenge Hong Kong’s stock market, with analysts pointing to inflows and corporate support as key buffers.

Japan

The View | What Japanese outbound investment says about Asia’s top property market

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China-Latin America relations

Argentina edges back to China on currency swap despite US pressure

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China consumption

China credit data shows demand dip, household deleveraging amid weak investment

But while traditional industries are mired in a downturn, hi-tech firms look to expand – many through direct financing.

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People walk along a street in Shanghai on Tuesday. Households in China are showing a weak appetite for taking on debt. Photo: EPA
Hong Kong property

Hong Kong developer Lai Sun seeks note swap in bid to ease liquidity pressure

Noteholders, if eligible, can swap their holdings for notes in US dollar denominations.

Artificial intelligence

Zhipu AI’s stock rockets after Chinese firm launches GLM-5.2 model

Zhipu and some Chinese peers aim to capture users changing from US rivals’ top models amid high prices, geopolitical bans.

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HSBC

HSBC, Hang Seng mobile apps restored after Hong Kong users were locked out

HSBC and Hang Seng Bank at 2.30pm said all mobile banking services have resumed normal after customers were unable to access the mobile apps since 9am.

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HSBC is the biggest lender in Hong Kong with over 7 million customers. Photo: Jelly Tse
HKEX

Lower bar to entry for innovative firms to list in Hong Kong, chamber says

The proposal could better serve Hong Kong as gateway for mainland firms to go global and for overseas firms to invest in Asia, the group says.

AIIB

Open Questions | AIIB head Zou Jiayi on multilateralism as ‘infrastructure of global trust’

As the Beijing-based development bank marks its 10th anniversary, its president says institutions like hers ‘create certainty amid uncertainty’.

Hong Kong property

US$46.2 million penthouse sale in Mid-Levels sets a 2026 record

The sale at the luxury development is the highest price per square foot in a first-hand transaction so far this year.

A view of residential buildings in Hong Kong’s Mid-Levels. Photo: May Tse
Investing

Why gold may rebound 13% this year – and what could hold it back

Metal’s upside rests on central-bank demand and easing oil shock, but higher yields and AI spending may temper recovery, money managers say.

Gold is forecast to climb to between US$4,750 and US$5,500 an ounce by the end of 2026, according to State Street Investment Management. Photo: Reuters
China's economic recovery

AI has boosted the US economy. Why isn’t it doing the same for China?

AI might be an economic panacea for the US, but it may not be one for China and the recovery of its real estate industry, one analyst says.

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Wealth management

Hong Kong gazettes tax break for fund manager bonuses to boost wealth hub role

The tax reform bill, which the government expects will attract talent to the city, is set to be read by lawmakers on June 24.

Hong Kong

Hong Kong regulators vow strict compliance as Beijing tightens capital controls

Regulators stress that Hong Kong’s role as an international financial centre must support China’s broader financial development objectives.

The Securities and Futures Commission (SFC) chairman Kelvin Wong Tin-yau. The increased scrutiny is part of Beijing’s efforts to strengthen oversight of capital flows. Photo: Sun Yeung
China's economic recovery

‘Not a crackdown’: China regulators eye neutral enforcement in shift from 2021

Increased scrutiny of tech giants and finance firms seen as end to the era of administrative restraint as officials move to curb monopolies and price wars.

Chinese e-commerce apps are seen on a mobile phone. Photo: Shutterstock
Yuan

Yuan poll finds 95% of overseas firms expect to sustain or boost use of currency

Increased international adoption of China’s currency highlights progress in Beijing’s strategic push amid the US dollar’s global financial dominance.

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China's economic recovery

Citic Securities breaks ceiling with first ‘A’ class rating for China brokerage

Award of an A-minus rating seen as a milestone in China’s efforts to build globally competitive investment banks.

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Hong Kong Monetary Authority (HKMA)

Hong Kong, Indonesia move towards direct transactions in yuan, rupiah

Agreement between People’s Bank of China, HKMA and Bank Indonesia aims to enhance efficiency and encourage use of the currencies.

Bundles of Indonesian rupiah are pictured at a currency exchange office in Jakarta on June 4, 2026. Photo: AFP
Mainland China

Opinion | Why tech titans’ IPOs matter as much in China as in the US

Beijing will have to ask whether its capital markets and financial regulations can create and sustain companies of a similar scale.

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People’s Bank of China (PBOC)

PBOC chief says China a haven for asset diversification in volatile world

Pan Gongsheng tells representatives from about 30 central banks around the world that opening-up measures are working.

AIIB

Open Questions | AIIB chief Zou Jiayi on financing Asia’s green transition

President of the Asian Infrastructure Investment Bank on how it bridges differences to build a more sustainable, climate-resilient world.

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Illustration: Lau Ka-kuen
China stock market

Red-chip listing to make Chinese green power producer Shenzhen’s biggest IPO

Wind and solar producer plans multiple projects amid China’s push to deepen its insulation from global oil-shock pressures.

China Resources New Energy is set to become the first Shenzhen-listed company incorporated overseas but operating mainly in mainland China under the red-chip structure. Photo: Roy Issa
Hong Kong economy

Kazakhstan bank turns to Hong Kong as gateway to offshore renminbi finance

Chinese-backed Altyn Bank says Kazakh investors are turning to Hong Kong dim sum bonds to raise long-term capital for regional infrastructure.

Yuan

‘Increasingly influential’ use of China’s currency puts euro on notice

The US dollar is still dominant, but a slump in Europe may see China’s currency gain strength and reach the No 2 spot in global settlements.

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Fifa World Cup 2026

Gold-laden World Cup trophy’s value surges 157% – how much is the bullion worth?

While priceless to players, all that shimmers in the iconic Fifa statue has seen its intrinsic value skyrocket amid a historic rally since the last tournament.

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The Fifa World Cup trophy is seen on display in the US state of New Jersey earlier this month. Photo: IMAGN IMAGES via Reuters Connect
IPO

The world’s 5 largest-ever IPOs, before Elon Musk’s SpaceX listing

Ahead of SpaceX’s public listing on Friday, set to break records, here are some previous block-buster fundraisers.

The New York Stock Exchange decorated for the first day of trading for Alibaba on September 19, 2014. Photo: Shutterstock
China property

New York leads, but Asia-Pacific’s financial hubs are on the rise

The centre of gravity is shifting east in the financial services world, but New York remains the global benchmark, says Colliers report.

Semiconductors

Amid a memory supercycle, CXMT rival UniIC pushes for mainland IPO

As markets see a global, AI-driven demand for memory, UniIC is a step closer to listing in China.

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