Topic
News about the global financial industry with a focus on developments in Hong Kong and China.
Hong Kong Monetary Authority hopes proposed term ‘licensed digital bank’ will inspire confidence in those that use such facilities when online fraud is on the rise.
.JPG?itok=SSmqFLVw&v=1714463271)
Attracting listings to the bourse from Southeast Asia, the Middle East and other regions, and introducing trading when typhoon signal No 8 is in force are at the top of his list.
As Beijing restructures the economy, the importance of having accurate and precise information from across the country is critical.
- Some Chinese cities have begun to pay state employees with the country’s digital currency, but most of these early adopters convert to cash immediately
- Challenges remain in the e-CNY’s popularisation, as universally adopted mobile payment apps present convenient, functional alternative
In an attempt to limit the impact of data showing foreign funds selling on market sentiment, Shanghai and Shenzhen exchanges plan to cease displaying real-time figures on purchases or sales of local stocks through trading links with Hong Kong.
DHL Express expects its Asia-Pacific business to be strong driven by shifts in supply chain businesses moving out of China amid geopolitical tensions.
Two regions can revitalise historical connections through financial collaboration, but more understanding is needed, says a director with index provider MSCI.
Valuable Capital, Hong Kong’s second-largest online broker, launched Sahm Capital in December, allowing users to trade in both Saudi and US markets.
Insurer has sold about 5.6 million HSBC shares, reducing its stake in the lender to 7.98 per cent from 8.01 per cent, according to an exchange filing.
OK Lim faced charges of cheating HSBC Holdings and instigating a Hin Leong employee to forge documents, according to a newspaper report. The charges involved a total of US$111.7 million.
The short video and live streaming platform operator aims to replicate its strategy in overseas markets, focusing on big opportunities in the Middle East, North Africa, Brazil and Southeast Asia, CEO Jin Bing says
UBS may start rewarding its bankers for referring clients to the firm’s wealth management business, in a first for the Zurich-based lender
Geely Auto’s premium EV unit raised US$441 million by upsizing its IPO by 20 per cent to accommodate demand, according to two sources. The stock is due to debut in New York on Friday.
Banks like HSBC and Standard Chartered are urging the British government to amend a proposed legislation that aims to impose restrictions on doing business in China.
The Saudi stock exchange will weigh its reforms against the likes of the Hong Kong stock exchange as it bids to become a leading global capital market, Tadawul Group’s Nayef Al-Athel says.
Local governments in China are exploring the use of data as an asset to help reduce their heavy debt burdens, but this has prompted concerns over efficacy and legality.
Harvest CEO Han Tongli said he ‘doesn’t rule out’ applying to get the spot crypto ETFs on the Stock Connect scheme as long as ‘everything goes smooth’ in the next two years.
Hong Kong Exchanges and Clearing, which runs the third-largest stock exchange in Asia, sees more listings from the Middle East and mainland China as market sentiment turns bullish, according to its CEO.
The new financial product underscores the flurry of collaborations and accords between Hong Kong and Riyadh since the February 2023 visit by Chief Executive John Lee Ka-chiu to the kingdom.
State media article on Wednesday says it is ‘certain’ that China’s central bank will participate in treasury bond trading amid better coordination with the finance ministry.
The removal of property curbs, a stock market rebound and growing opportunities in the Greater Bay Area are attracting an increasing number of family offices to Hong Kong, according to industry players.
With China’s ties to Russia under stronger scrutiny from the West, banks are keeping a closer eye on transactions with links to Moscow – and China’s exporters are concerned their bottom line will suffer.
FTX said in a court filing it owes about US$11.2 billion to its creditors. The exchange estimates it has between US$14.5 billion and US$16.3 billion to distribute to them.
The investments, which will yield 3,200 jobs, come amid government efforts to enhance Hong Kong’s position as an innovation hub in the field.
Swiss financial firm EFG has increased its investment in Chinese and other non-Japan Asian stocks, on expectations of steady growth in the region and driven by the belief the worst was over for stocks in China.
The number of private debt funds in the Asia-Pacific region grew by 22 per cent to 94 at the end of 2023 compared with a year before as financial institutions bet on the flourishing market.
Hong Kong is expanding its market outreach in the Middle East by linking up with investment authority in oil-rich Qatar, paving the way for future cooperation and alliances.
A new data-verification platform will test Beijing’s plan to keep watch on cross-border data flows without disrupting normal business operations.
Hong Kong looks to help economies mitigate risks from natural disasters and has partnered with the World Bank in further developing the market for insurance-linked securities.
Hong Kong will roll out the red carpet to hundreds of top global bankers and finance executives in November for a high-level financial conference to be hosted by the Hong Kong Monetary Authority.
