TOPIC

/ company

Standard & Poor's (S&P)

Standard & Poor’s is best known for stock market indices such as the US-based S&P 500 and for its credit ratings, competing against Moody's Investors Service and Fitch Ratings. Rating agencies came under fire for issuing top ratings to pools of mortgages which included subprime loans and in February 2013, the US Justice Department filed a civil lawsuit against S&P, seeking US$5 billion in civil damages.

Chairman / President

Douglas L. Peterson

CEO / Managing Director

Douglas L. Peterson

CFO / Finance Director

Ewout Steenbergen

Industry

Financial Services

Website

spglobal.com/ratings

Headquarters address

55 Water Street, New York, NY 10041, USA

Stock Code

NYSE:SPGI

Year founded

1860

Shipping containers are stacked at a port in Montreal, Quebec, Canada, on August 1, 2025. While the unravelling of globalisation has been a major theme for some time, the primacy of national security and geopolitics is a relatively new phenomenon that is reshaping the global economy and markets. Photo: AFP

Trade

Macroscope | Trump weaponises trade as globalisation becomes more fractured

As recognised by Canada, the fracturing of the global economy is in full swing. Policymakers and businesses should expect it to continue.

29 Jan 2026 - 4:30PM

China property

Expect no ‘systemic shock’ from Vanke’s ‘technical default’: HSBC

13 Jan 2026 - 8:30AM

Bonds

Hong Kong extends digital bond ambitions with third offering

10 Nov 2025 - 5:04PM

Bonds

China’s Meituan eyes US$3 billion from bond issue as competition heats up

Meituan’s dual-currency bond offering consists of US$1.99 billion in greenback-denominated notes and US$1 billion in yuan-based securities.

30 Oct 2025 - 4:56PM

Debt financing is expected to offer some relief to Meituan’s on-demand delivery business amid heightened competition. Photo: Shutterstock

Banking & finance

US dollar slide could pressure export-driven sectors and banks, S&P warns

US dollar depreciation against euro, yen and most emerging-market currencies over next three years expected to be ‘modest and orderly’.

14 Oct 2025 - 6:00PM

Germany

Midea’s AC sales jump 35% in Europe amid heatwaves, offsetting slowdown in China

The Foshan-based appliance maker’s overseas revenue accounted for 43 per cent of its total revenue in the first half of 2025.

25 Sep 2025 - 7:30AM

Hong Kong property

NWD, CK Asset launch home sales, hoping year’s first rate cut revives sentiment

New World is selling all 120 units at House Muse in Kowloon City, and CK Asset is selling the last 70 units at Blue Coast II in Wong Chuk Hang.

18 Sep 2025 - 5:15PMvideocam

CK Asset is launching sales of the last 70 remaining units in Blue Coast II in Wong Chuk Hang on Friday. Photo: Jonathan Wong

Bonds

Hungry to expand, Chinese companies to dish out more dim sum bonds

US-dollar bond issuance is set to fade as dim sum bonds become a central pillar of Beijing’s push to internationalise the yuan, asset managers say.

17 Sep 2025 - 5:30PM

Wealth management

Standard Chartered banker urges diversification amid correction risks

‘There could be another correction. These things happen,’ Standard Chartered’s Judy Hsu says.

8 Sep 2025 - 8:43AM

United States

US stocks wobble as Wall Street wrangles with whether job market is too weak

Hopes that weak employment data would spur the Fed to cut interest rates were balanced by fears that an economic downturn is looming.

6 Sep 2025 - 5:18AMvideocam

The New York Stock Exchange. While the data on the US job market is disappointing, it is still not so weak that it is screaming a recession. Photo: AP

China property

The View | China’s commercial property market has its own version of a ‘national team’

While Beijing hasn’t called on any funds to support China’s commercial property market, its strong, diverse domestic investor base is a pillar of strength.

11 Aug 2025 - 4:30PMvideocam

Pedestrians pass through a business district in Jiaxing, in east China’s Zhejiang province, on August 7. Photo: Xinhua

United States

Wall Street drifts as global stock markets take Trump’s new tariffs in stride

Worries that Trump’s tariffs are damaging the economy linger, particularly after last week’s worse-than-expected report on the job market.

7 Aug 2025 - 11:07PMvideocam

Biomedicine: Companies

Opinion | Biotech successes helping Chinese intellectual property go global

After years of buying licences for foreign-made medicines, Chinese biotech firms are now profiting handsomely from their own innovations.

5 Aug 2025 - 5:30AMvideocam

Hong Kong stock market

De-dollarisation trend to continue, favouring Asian assets: Societe Generale

‘We acknowledge that US exceptionalism is diminishing and that de-dollarisation is under way,’ analysts say.

4 Jul 2025 - 2:53PM

The US dollar index dropped 11 per cent in the first six months, the worst start to a year since 1973. Photo: DPA

China stock market

Chinese stocks trade near 3-month high as manufacturing, home sales rebound

Private reports showed manufacturing and home sales in mainland China recovered in June from a month earlier.

1 Jul 2025 - 3:50PMvideocam

An electronic board showing stock data in Shanghai on May 27, 202. Photo: EPA-EFE

Hong Kong property

Rebound in Hong Kong’s home prices unlikely to come this year: analysts

Analysts say a supply overhang in the city’s residential real estate market is likely to loom this year and next.

30 Jun 2025 - 5:35PM

Business of climate change

Cloudy with a chance of bankruptcy: US tariffs hurt China’s solar firms

One-third of China’s 121 listed solar producers are in the red; more than 50 along the supply chain have filed for bankruptcy this year.

28 Jun 2025 - 11:00AMvideocam

United States

S&P500, Nasdaq hit record highs on renewed AI bets, rate-cut hopes

A US-brokered ceasefire between Israel and Iran that sparked higher crude prices also boosted market confidence.

27 Jun 2025 - 10:09PMvideocam

A trader at the New York Stock Exchange. The S&P 500 has surged more than 23.5 per cent and the Nasdaq about 32 per cent since their recent lowest close on April 8. Photo: Xinhua

China-Middle East relations

Global economy jitters grow after Trump’s Iran strikes, Strait of Hormuz fears

Escalating Israel-Iran conflict could disrupt oil trade and shake markets, analysts say.

23 Jun 2025 - 3:54PMvideocam

Hong Kong property

Hong Kong’s New World downplays talk of debt deal as analysts see path forward

Government rhetoric about bank leniency towards developers is ‘favourable’ for the debt-laden company, Morningstar analyst says.

23 Jun 2025 - 6:23PM

Hong Kong property

Debt crunch at NWD stokes downside risk in Hong Kong home prices, S&P says

Decision to defer coupon payments on four series of perpetual bonds threatens a bigger drop in home prices, rating firm says.

11 Jun 2025 - 7:44PM

New World Development’s head office in Central. Photo: Jelly Tse

Investing

Explainer | Taco vs Tina: which acronym will win out when traders have a taste for both?

Tina has been around for decades, but Taco trades are suddenly cooking up a storm. What do they mean, and why does it matter?

30 May 2025 - 8:30PMvideocam

US President Donald Trump has been accused of chickening out in his trade dealings with other countries – an allegation he denies. Photo: Getty Images

Hong Kong economy

Moody’s and S&P Global keep ‘Aa3’ and ‘AA+’ credit ratings for Hong Kong

Both rating agencies point to city’s substantial fiscal buffers and foreign exchange reserves, strong external balance sheet and high per capita income levels.

28 May 2025 - 2:44AM

Mandatory Provident Fund (MPF)

MPF fund managers told to gird for US holdings after Moody’s cut

About 37 per cent of MPF’s US$167 billion total assets were invested in bond and balanced funds at the end of 2024.

27 May 2025 - 11:25AM

United States

Trump threatens EU with 50% tariffs over breakdown in talks, Apple stares at 25%

Sweeping levies targeting bloc would start June 1 as China continues charm offensive across continent to deepen engagement.

24 May 2025 - 4:51AMvideocam

US President Donald Trump’s double-barrelled announcement highlighted his ongoing campaign against major American trading partners. Photo: AP

US-ally trade wars

Macroscope | In US bonds, China and Japan have the most fearsome weapon against Trump

The increased vulnerability of US markets gives foreign holders of US Treasury bonds more leverage in trade negotiations with Washington.

22 May 2025 - 5:18PMvideocam

US Treasury Secretary Scott Bessent and Japanese Finance Minister Katsunobu Kato, chat during a photo-op at the G7 finance ministers meeting in Banff, Alberta on May 21. Photo: AP

Blockchain

Bitcoin hits record high as US-China trade tensions ease

‘A target of US$150,000 in 2025 is still very much on the cards,’ one analyst says.

22 May 2025 - 9:51AM

Singapore

Singapore’s central bank chief sees ‘no alternative’ to US dollar assets

Even with three major credit rating agencies now downgrading the US, Singapore’s central bank boss says US dollar assets are irreplaceable.

21 May 2025 - 10:26AM

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Standard & Poor's (S&P)

.css-1m2rp1p{color:#34b8b5;}Macroscope | Trump weaponises trade as globalisation becomes more fractured

As recognised by Canada, the fracturing of the global economy is in full swing. Policymakers and businesses should expect it to continue.

Expect no ‘systemic shock’ from Vanke’s ‘technical default’: HSBC

Hong Kong extends digital bond ambitions with third offering

China’s Meituan eyes US$3 billion from bond issue as competition heats up

Meituan’s dual-currency bond offering consists of US$1.99 billion in greenback-denominated notes and US$1 billion in yuan-based securities.

US dollar slide could pressure export-driven sectors and banks, S&P warns

US dollar depreciation against euro, yen and most emerging-market currencies over next three years expected to be ‘modest and orderly’.

Midea’s AC sales jump 35% in Europe amid heatwaves, offsetting slowdown in China

The Foshan-based appliance maker’s overseas revenue accounted for 43 per cent of its total revenue in the first half of 2025.

NWD, CK Asset launch home sales, hoping year’s first rate cut revives sentiment

New World is selling all 120 units at House Muse in Kowloon City, and CK Asset is selling the last 70 units at Blue Coast II in Wong Chuk Hang.

Hungry to expand, Chinese companies to dish out more dim sum bonds

US-dollar bond issuance is set to fade as dim sum bonds become a central pillar of Beijing’s push to internationalise the yuan, asset managers say.

Standard Chartered banker urges diversification amid correction risks

‘There could be another correction. These things happen,’ Standard Chartered’s Judy Hsu says.

US stocks wobble as Wall Street wrangles with whether job market is too weak

Hopes that weak employment data would spur the Fed to cut interest rates were balanced by fears that an economic downturn is looming.

The View | China’s commercial property market has its own version of a ‘national team’

While Beijing hasn’t called on any funds to support China’s commercial property market, its strong, diverse domestic investor base is a pillar of strength.

Wall Street drifts as global stock markets take Trump’s new tariffs in stride

Worries that Trump’s tariffs are damaging the economy linger, particularly after last week’s worse-than-expected report on the job market.

Opinion | Biotech successes helping Chinese intellectual property go global

After years of buying licences for foreign-made medicines, Chinese biotech firms are now profiting handsomely from their own innovations.

De-dollarisation trend to continue, favouring Asian assets: Societe Generale

‘We acknowledge that US exceptionalism is diminishing and that de-dollarisation is under way,’ analysts say.

Chinese stocks trade near 3-month high as manufacturing, home sales rebound

Private reports showed manufacturing and home sales in mainland China recovered in June from a month earlier.

Rebound in Hong Kong’s home prices unlikely to come this year: analysts

Analysts say a supply overhang in the city’s residential real estate market is likely to loom this year and next.

Cloudy with a chance of bankruptcy: US tariffs hurt China’s solar firms

One-third of China’s 121 listed solar producers are in the red; more than 50 along the supply chain have filed for bankruptcy this year.

S&P500, Nasdaq hit record highs on renewed AI bets, rate-cut hopes

A US-brokered ceasefire between Israel and Iran that sparked higher crude prices also boosted market confidence.

Global economy jitters grow after Trump’s Iran strikes, Strait of Hormuz fears

Escalating Israel-Iran conflict could disrupt oil trade and shake markets, analysts say.

Hong Kong’s New World downplays talk of debt deal as analysts see path forward

Government rhetoric about bank leniency towards developers is ‘favourable’ for the debt-laden company, Morningstar analyst says.

Debt crunch at NWD stokes downside risk in Hong Kong home prices, S&P says

Decision to defer coupon payments on four series of perpetual bonds threatens a bigger drop in home prices, rating firm says.

.css-sioo19{color:#c79a00;}Explainer | Taco vs Tina: which acronym will win out when traders have a taste for both?

Tina has been around for decades, but Taco trades are suddenly cooking up a storm. What do they mean, and why does it matter?

Moody’s and S&P Global keep ‘Aa3’ and ‘AA+’ credit ratings for Hong Kong

Both rating agencies point to city’s substantial fiscal buffers and foreign exchange reserves, strong external balance sheet and high per capita income levels.

MPF fund managers told to gird for US holdings after Moody’s cut

About 37 per cent of MPF’s US$167 billion total assets were invested in bond and balanced funds at the end of 2024.

Trump threatens EU with 50% tariffs over breakdown in talks, Apple stares at 25%

Sweeping levies targeting bloc would start June 1 as China continues charm offensive across continent to deepen engagement.

Macroscope | In US bonds, China and Japan have the most fearsome weapon against Trump

The increased vulnerability of US markets gives foreign holders of US Treasury bonds more leverage in trade negotiations with Washington.

Bitcoin hits record high as US-China trade tensions ease

‘A target of US$150,000 in 2025 is still very much on the cards,’ one analyst says.

Singapore’s central bank chief sees ‘no alternative’ to US dollar assets

Even with three major credit rating agencies now downgrading the US, Singapore’s central bank boss says US dollar assets are irreplaceable.

Macroscope | Trump weaponises trade as globalisation becomes more fractured

Explainer | Taco vs Tina: which acronym will win out when traders have a taste for both?