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Enoch Yiu
Chief Reporter, Business
Enoch joined the Post as a business reporter in 1996. Before that, she worked at a Chinese daily newspaper for four years. She is the author of two books: 'They Mean Business: 50 exclusive interviews with Hong Kong top executives' and 'Serving with Passion: stories of established catering brands in Hong Kong'.
Asia was the largest profit contributor to Canadian insurer in the third quarter, with 44 per cent of the group’s earnings coming from the region.
The exchange link between Shanghai and Hong Kong went live on November 17, 2014.
The bond, which have a tenor of three years, will provide assured returns of 3.5 per cent to be paid every six months.
Turnover of HK$173.31 billion (US$22.2 billion) exceeds the 10-month daily average of HK$127.8 billion, but falls short of HK$184.66 billion a day earlier.
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Lui, the chairman of the K. Wah Group of companies, died peacefully on November 7, according to filings to the Hong Kong stock exchange by his companies.
China’s Vice-Premier He Lifeng will lead delegation to the 2024 Global Financial Leaders Investment Summit in Hong Kong, two sources said.
The Hong Kong government’s investment arm will use funds from the investment migration scheme to promote innovation.
Executives in a recent delegation praise Saudi Arabia’s pace of modernisation and eagerness to do business.
Cuts could lighten monthly mortgage burden by HK$709 for a typical HK$5 million, 30-year loan, a broker says.
Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.
‘The recent stock market rally may have the wealth effect that people who gain from the stock market will go shopping and dining,’ Eddie Yue says.
Lawmakers asked whether the fund could give more to address the government’s deficit, but HKMA’s CEO urged sticking with an existing formula.
The highlight of the week was the US$1 billion accord announced on the final day of the 2024 FII summit by the Saudi sovereign wealth fund and the HKMA.
In addition, Hong Kong and Saudi market regulators announce a partnership to spur cross-border listings and training.
Talk of a partnership followed the bulk order of 60 Airbus A321neo aircraft, announced this week during the annual FII conference in the Saudi capital.
Move represents another effort to forge Middle East ties amid frayed China-US relations.
Albilad ETF, which tracks 30 Hong Kong-listed sharia-compliant stocks, opened flat at the opening bell.
Start-ups with expertise in artificial intelligence, biotech and green energy can contribute to Saudi Arabia’s economic diversification agenda.
Speakers at HERizon Summit in Riyadh included HSBC ex-CEO Noel Quinn, former HKEX chairman Laura Cha.
Synagistics starts trading under the 2562 stock code on Wednesday after combining its business with Hong Kong Acquisition Corporation.
Hong Kong start-ups ‘have a lot to offer’ Saudi Arabia, which is trying to diversify its oil-dominated economy.
Since the public offering is still ongoing, the size of the fund may grow when it is listed on the Saudi Stock Exchange on Wednesday.
Hong Kong has to create a comprehensive gold trading ecosystem, attract international traders, central banks and hedge funds.
Online broker Futu Securities opened its fourth branch in Causeway Bay last week, while Phillip Securities mulls new branches.
Funds raised from IPOs in the June to September quarter reached HK$42.2 billion, six times higher than a year earlier.
Hong Kong’s potential as a marine insurance hub hinges on tax incentives and easier capital raising for insurers, Willis Towers Watson CEO Carl Hess says.
Bank says HSBC and Hang Seng will ‘remain very separate in the way they compete’ for business in the city.
‘We want to discuss how to navigate these changes and build resilience within the institutions to withstand any shocks,’ HKMA’s Eddie Yue says.
The authority also says banks must ensure their lendings to companies and projects are net zero by 2050.
The summit is pivoting from the publicity objective of its 2022 inaugural edition to making Hong Kong the venue to discuss issues that affect global banking.
