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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.
Georges Elhedery, group CEO of HSBC, speaks at the bank’s Global Investment Summit last week. Photo: Handout
Wealth management

HSBC bets big on Hong Kong to tap Asia’s wealth-management boom: Elhedery

HSBC’s customers base increased to 6.2 million last year from 5.4 million, showing the importance of the city, Elhedery says.

China stock market

China’s 4 top state-owned banks to raise US$72 billion from stock sales to boost capital

China property

Shanghai’s luxury property market thrives while mass housing segment deteriorates

Artificial intelligence

DeepSeek has boosted the faith of rich Chinese investors in tech stocks: StanChart

The AI boom in China has convinced Chinese investors that the markets will continue to rise, Standard Chartered’s Judy Hsu says.

Judy Hsu, CEO of wealth and retail banking at Standard Chartered. Photo: VVS.sg
Currencies

Macroscope | World is ready to cut US dollar down to size – but not too quickly

The US dollar is too central to the global financial system for the so-called Mar-a-Lago Accord to find traction outside the US. But the search is on for alternatives.

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Climate change

Opinion | Asia can’t afford to wait for the US to wake up to its climate duty

As the US walks away again, Europe, China and others need to fill the climate reparation funding gap, not out of charity but responsibility.

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Central banks

Chinese state banks’ 2024 profits rise, NPLs dip even as margins thin

All six state-owned commercial banks posted moderate profit growth for last year, as non-performing loan ratios declined slightly.

A branch of the Industrial and Commercial Bank of China (ICBC) in Beijing on April 1, 2019. Photo: Reuters
Hong Kong

Venture-capital club expands to Hong Kong, plans US$250m fund

London Technology Club opens in the city with a focus on fast-scaling companies in AI, fintech.

United States

Opinion | Trump’s executive orders will be no match for markets in grip of fear

Investors’ behaviour promises to thwart Trump’s economic agenda, just as they have forced past administrations to scramble for rescues.

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Blockchain

Hong Kong to get world’s first tokenised money-market ETFs from Bosera, HashKey

Bosera HKD Money Market ETF and USD Money Market ETF, which have been approved by the SFC, are set to launch in April.

Tokenised money market ETFs are one of the use cases in the HKMA’s Project Ensemble sandbox. Photo: Shutterstock
China property

Exclusive | BlackRock sells last Shanghai asset at discount amid China retreat

The US firm is selling its last major asset in the city, Trinity Place, for 900 million yuan (US$124 million), according to sources.

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A view of the Shanghai skyline and Huangpu river in 2022. Photo: Reuters
Wealth management

Top US money managers stay upbeat on Chinese stocks amid AI, biotech boom

Templeton, Janus Henderson and Wellington Management see potential in stocks amid China’s pursuit of tech excellence.

HSBC

Cathie Wood sees AI driving US$10 trillion global robotaxi revolution

The CEO of Ark Investment says the market will help propel a near 10-fold jump in Tesla’s share price to US$2,600 in five years.

Malaysia

Name your ‘wish’: Johor-Singapore special zone dangles more investor perks

Malaysian official reveals more benefits on sidelines of Korea-Asean Business Forum in Seoul, as UOB bank rolls out support for Korean firms eyeing the region.

Vehicles at the causeway coming from Malaysia’s state of Johor to enter Singapore. Photo: AFP
Wealth management

Investors bank on more AI-driven stock upside in Hong Kong, Singapore, US: HSBC

Nearly 40 per cent believed AI was an ‘overhyped profit driver’, according to HSBC’s survey of high-net-worth investors.

HSBC holds its second Global Investment Summit in Hong Kong this week. Photo: Handout
China-EU relations

China, Europe ‘share same worry’ about unilateralist forces: ESM director

In China as part of a finance-focused delegation, director of European Stability Mechanism says the two regions are aligned in bid to stabilise international finance.

Hong Kong stock market

China’s narrower tech gap with US creates investment opportunities: fund managers

CEOs of Primavera Capital, Franklin Templeton tout long-term potential of Chinese stocks at first World Economic Forum event in Hong Kong.

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MTR Corporation

Hong Kong’s MTR Corp raises US$3 billion from its largest public bond sale

The deal comes amid a buoyant Asian bond market as risk sentiment remains steady ahead of further US trade tariffs, according to analysts.

The MTR Corp’s 30-year US dollar note is the largest from a Hong Kong corporate issuer in more than two decades, according to the railway transport operator. Photo: Edmond So
Hong Kong stock market

‘China is back’ as Goldman, Morgan Stanley whet global appetite for equities

Morgan Stanley raised its year-end index targets for MSCI China and Hang Seng by more than 7 per cent on improved outlook for earnings and valuations.

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Hong Kong Monetary Authority (HKMA)

Wealth Connect 3.0: HKMA chief promises upgrades to boost appeal

The cross-border scheme for wealth-management products could also expand to mainland investors beyond the Greater Bay Area, Eddie Yue says.

CATL

CATL gets CSRC’s nod for Hong Kong IPO to raise at least US$5 billion

CATL plans to sell up to 220.17 million shares and could raise at least US$5 billion to fund new factories overseas.

A logo of the battery manufacturer Contemporary Amperex Technology Limited (CATL) at the Auto Shanghai show on April 18, 2023. Photo: Reuters
US-listed Chinese stocks

Chinese tea chain Chagee reveals revenue surge in US IPO filing

Net revenue nearly tripled to US$1.71 billion in 2024, company says as it prepares for Nasdaq listing.

A Chagee store in Beijing, pictured on October 1, 2023. Photo: Shutterstock
HKEX

Hong Kong set to fund Chinese start-ups’ ‘jaw-dropping’ innovations

China is at the beginning of a long innovation story, according to speakers at the HSBC Global Investment Summit.

Family offices

Hong Kong deepens push into AI, tech to boost its edge over Singapore: Paul Chan

Artificial intelligence is the future, as it has the potential to boost Hong Kong’s competitiveness, financial secretary says.

Asia Tech

Alibaba’s Tsai says some AI bets like excess data centres are speculative

‘People are talking literally about US$500 billion, several US$100 billion [projects]. I don’t think that is entirely necessary,’ Tsai says.

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Alibaba Group chairman Joe Tsai says some of the multi-billion outlays may be unnecessary. Photo: Handout
Electric & new energy vehicles

Chinese EV maker Xiaomi raises US$5.5 billion to accelerate expansion

The Beijing-based firm sold 800 million new shares at HK$53.25 each, a 6.6 per cent discount to the closing price on Monday.

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A Xiaomi SU7 Ultra electric car is displayed at the Mobile World Congress in Barcelona, Spain, on March 3. Photo: Xinhua
Vietnam

Vietnamese tycoon facing death sentence scrambles to repay fraud billions

Truong My Lan’s lawyer said she was securing funds to appeal her life sentence, on top of the US$11 billion she needs to avoid execution.

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Wealth management

Exclusive | Hong Kong must capitalise on DeepSeek to lure global, Chinese funds: HSBC

Hong Kong’s stock market has a lot of room to expand as many companies are planning IPOs, HSBC’s Asia and Middle East co-CEO David Liao says.

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