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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.
A person uses an ATM at a bank branch in Mong Kok. Photo: Eugene Lee
HSBC

Why Hong Kong banks have shut down 40% of branches in recent years

With the ability to transfer funds at 2am and AI to help plan investments, branches on every corner no longer make sense, local bankers say.

HSBC

HSBC, Hang Seng to unify staff benefits in Hong Kong from January, memos reveal

Morgan Stanley

Rivals move to poach Morgan Stanley clients after accidental deal leak

Commodities

Shanghai Gold Exchange pushes more Chinese banks to end retail leverage trading

Lenders in China are redirecting retail clients to fixed-price accumulation plans and physical purchases of precious metals, moving away from margin-based speculation.

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Banks in China are phasing out retail leveraged precious-metals trading for gold and silver. Photo: AFP
United States

US 30-year mortgage rates top 7%, highest in Trump presidency

It is the highest average level since January 2025, with affordability a concern for US voters weeks ahead of November’s midterm elections.

India

What can Asia, Global South learn from India’s new digital payment fee?

The roll-out is a good test of whether the system can generate enough revenue to pay for its own maintenance and expansion, experts say.

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IPO

China’s humanoid robot IPO slowdown no threat to firms with ‘genuine strength’

The market is shifting from a ‘blind rush’ to ‘fine screening’, but funding is still there for firms with clear strategies, Deloitte China says.

Humanoid robots by Unitree Robotics demonstrate a group dance during an expo in Beijing. Photo: Reuters
Bonds

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

Against the rising resilience of Chinese markets, the sharp reappraisal of US debt and dollar risks makes the answer far from clear-cut.

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ETFs

ChinaAMC launches 3 Hong Kong ETFs as demand for targeted strategies grows

Funds eye potential mainland investor participation and could join ETF Connect within six months, asset manager says.

IPO

Morgan Stanley leak of confidential deal pipeline alarms Hong Kong market

Morgan Stanley says it ‘promptly took steps to address this inadvertent sharing of information’ and that it is engaged with relevant parties.

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The US investment bank was the second largest bookrunner in IPOs and other equity fundraising in Hong Kong in the first half of this year. Photo: Shutterstock
China property

What is tempting foreign investors back to China’s commercial property market?

Cross-border capital remains thin, but cheaper yuan financing and an expanding Reit market are opening pathways for global funds, analysts say.

Investors are targeting offices in first-tier cities, regional shopping malls, multifamily projects and logistics assets, according to analysts Photo: AP
Mainland China

US$365 trillion and counting: the world’s total debt hits record high, IIF finds

Debt climbs US$10 trillion in six months as fiscal strains deepen, exposing cracks in household and corporate balance sheets.

United States

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

For major economies that have relied on debt to maintain living standards since 2007, high inflation might be one way out.

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Yuan

Hong Kong aims to add yuan trading counter to southbound Stock Connect by July 1

Move marks the latest step in Hong Kong’s efforts to advance internationalisation of the Chinese currency.

Julia Leung and Kelvin Wong announce the SFC’s priorities on Wednesday. Photo: Karma Lo
Gold in Hong Kong

Hong Kong maps out gold, bond and liquidity push to deepen offshore yuan use

HKEX to launch yuan gold futures as HKMA eyes new products and platforms to expand offshore market activity.

Participating in a panel discussion at Treasury Markets Summit 2026 are, from left, Justin Chan of HSBC, Darryl Ho of HKMA, Gregory Yu of HKEX, Patrick Wu of Credit Agricole and Annie Zhu of Bank of China (Hong Kong). Photo: Elson Li
Hong Kong

Will Hong Kong property market benefit as online financial firms get physical?

Online brokerages and digital banks are opening branches across city after a sharp drop in shop rents in prime locations.

Yuan

Digital yuan push quickens as Ant International spurs instant cross-border flows

The Shanghai-to-Hong Kong settlements worth hundreds of millions of yuan bypassed traditional channels and could accelerate Beijing’s broader yuan strategy.

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IPO

Chinese robot-sensor maker launches Hong Kong IPO amid US vacuum ban

Camsense Technologies aims to raise about US$87 million in a Hong Kong listing backed by carmaker BYD.

China’s robotic vacuum industry has expanded rapidly, with leading brands selling products globally. Photo: dpa/picture alliance via Getty Images
China stock market

As Buffett exits, China embraces his investment legacy. Will Wall Street buy it?

Chinese regulators push patient capital, reshape US$4.5 trillion mutual fund industry towards long-term holdings as foreign investors weigh risks against thin IPO pipelines.

Africa

Some family offices eyeing Chinese investments as US-China tensions ease: report

European, Middle Eastern and African family offices are increasing their exposure to China as they diversify their portfolios, report finds.

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Hong Kong Monetary Authority (HKMA)

Hong Kong regulators to unveil next steps in new offshore yuan push

HKMA, SFC officials expected to outline new measures to deepen yuan usage and cross-border market links following meetings in Beijing.

The exchanges between policymakers and regulators are expected to pave the way for additional measures aimed at strengthening Hong Kong’s role as an offshore yuan trading centre, according to analysts. Photo: Shutterstock
United States

China grants BlackRock QDII status in US$149b cross-border market

The qualification allows firms to raise funds in China and deploy them in overseas asset portfolios.

BlackRock must complete preparatory work within six months and pass an on-site inspection before beginning business under the qualification. Photo: Shutterstock
Hong Kong environmental issues

Opinion | Hong Kong lacks a climate narrative to unify its efforts

Hong Kong does not mention ‘climate change’ in its five-year plan, yet it already has many ingredients of climate leadership.

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IPO

Mainland Chinese optical tech firm gains in debut amid Hong Kong spin-off wave

Ligent’s steady market debut comes as Hong Kong moves to streamline spin-off requirements.

Hong Kong stock market

Hong Kong stocks eye fresh inflows from mainland China’s insurers

Volume spike in exchange-traded funds seen as evidence insurers are taking advantage of recent regulator approval to diversify their assets.

The watchdog of China’s banking and insurance industries gave insurers the go-ahead to access Hong Kong-listed ETFs through the cross-border Stock Connect programme last month. Photo: Shutterstock
China digital currency

Could Saudi Arabia’s mBridge exit dent China-led payments platform?

The departure sends political signal rather than materially threatens project, analysts say.

The logo of Saudi Central Bank. Photo: Shutterstock
HKEX

Hong Kong stock exchange moves to ease spin-offs and shareholder approval rules

Proposals aim to streamline corporate actions and align Hong Kong more closely with rival markets, HKEX says.

Wealth management

Can Hong Kong win the race to manage Asia’s next generation of wealth?

City courts next-generation wealth as family businesses reinvent themselves and deploy capital into new sectors and markets.

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