The Exchange Fund, the war chest used to defend the local currency, reported a 37 per cent decline in first-half earnings as losses in Hong Kong equities and weaker bond returns weighed on performance, the Hong Kong Monetary Authority (HKMA) said on Tuesday. Earnings stood at HK$134.7 billion (US$17.17 billion), down from the record half-year return of HK$214 billion in 2025. The Hong Kong stock portfolio swung to a HK$11.8 billion loss from a HK$22.9 billion gain a year earlier. The Hang Seng...
Hong Kong’s push to draw Southeast Asian companies and markets into its financing orbit has scored a milestone, with the Malaysian government preparing to list a US$1.5 billion Islamic bond in the international financial centre later this week. The dual listing – sold on Bursa Malaysia and Hong Kong Exchanges and Clearing (HKEX) – marks the first concrete result of a visit to Kuala Lumpur led by Secretary for Financial Services and the Treasury Christopher Hui Ching-yu last week. The offering...
At the interbank foreign exchange, the rupee opened at 95.75 and gained further to trade at 95.64 against the greenback, up 35 paise from its previous closing level
NASN Intelligent Tech, a mainland Chinese smart driving motion control technologies company, is seeking to kick off its initial public offering (IPO) as soon as Thursday, according to people familiar with the matter. The company, backed by battery giant Contemporary Amperex Technology Ltd (CATL), recently passed its listing hearing, signalling it could kick off its book building anytime. Debuts are scheduled for August 7, the sources said, requesting not to be identified as the information is...
Singapore-based investors have become the largest group of non-local buyers of commercial properties in Hong Kong, drawn by the sizeable correction in the prices of distressed assets amid a slump in the city’s office segment, according to Colliers. The demand from Singapore was likely to remain steady in the coming months, given that the prices of office assets have declined by as much as 50 per cent, according to Thomas Chak, head of capital markets and investment services at the property...
When the S&P 500, Nasdaq and Dow Jones Industrial Average hit record highs in early July, US President Donald Trump hailed it as evidence of America’s economic revival. “This is WINNING. The Golden Age of America is beginning – and we are just getting started,” he wrote in a social media post on July 4, the 250th anniversary of the signing of the US Declaration of Independence. Though it was only the latest in a long series of boasts about the stock market that have punctuated Trump’s...
The price of silver bullion on January 1 this year stood at ₹3.18 lakh a kg and rose to ₹4.05 lakh by the last week of the same month.
In the first half of this year, investment in Hong Kong commercial real estate reached HK$24.1 billion (US$3.1 billion), up 56 per cent in annualised terms, according to CBRE data. The education industry was a crucial source of demand, generating HK$10 billion worth of transactions, with many of these deals involving assets for conversion into student housing. At a time when the living sector – which includes traditional rental housing, purpose-built student accommodation (PBSA) and housing for...
The company's shares soared by 470% in its market debut, as the AI boom drives chip demand.
Hong Kong property developers are expected to report stronger first-half earnings in the coming weeks, buoyed by a rebound in home sales and improving development margins, as investors look for clues on whether the sector’s recovery is sustainable. Bank of America Global Research expected Hong Kong developers and conglomerates to post average core net profit growth of 8 per cent year on year, excluding New World Development, according to a report published on July 15. “We expect the Hong Kong...
At the interbank foreign exchange, the rupee opened at 96.18 but lost some ground to trade at 96.28 against the greenback, logging a gain of 28 paise from its previous closing level
Shares of ChangXin Memory Technologies (CXMT), China’s leading maker of dynamic random-access memory (DRAM) chips, rose 472 per cent on their Shanghai trading debut, giving the company a market capitalisation of 3.31 trillion yuan (US$489 billion). The Hefei-based company opened at 49.50 yuan on the Star Market on Monday morning, compared with its initial public offering (IPO) price of 8.66 yuan. The size of the closely watched offering, up to 66.6 billion yuan, is set to surpass the 53.2...
With its renovation nearly complete, the Flatiron is ready for its next - and most extravagant - phase of life.
Capital markets firms, including mutual funds and brokerages, are expected to be able to use Central Know-Your-Customer 2.0 later this year
When Maharashtra’s MSEDCL floats an IPO, the State will be the first one to list a state-owned distribution company on stock exchanges.
On the surface, China’s cutting-edge tech sector – from the algorithmic breakthroughs of DeepSeek and Zhipu AI to the hardware of Unitree Robotics and ChangXin Memory Technologies (CXMT) – mirrors Silicon Valley’s venture capital-backed ecosystem. But a closer look at their financing histories reveals a common investor: the Chinese state. Beijing’s strong presence underscores a more profound structural shift in how China’s frontier technology is being funded. As Western venture capital and...
Stock exchange operator Hong Kong Exchanges and Clearing (HKEX) will allow all listing applications to remain confidential and will reduce market-capitalisation requirements for listings by start-ups and international firms immediately, it announced on Friday. Confirming a report by the South China Morning Post, HKEX will proceed with confidential filing as it proposed in March in its biggest set of listing reforms since 2018. The exchange will also reduce the market-cap requirements for...
Life insurance sales in Hong Kong rose 51 per cent in the first quarter to another record high, driven by affluent customers from mainland China and overseas buying policies for wealth transfer, protection and medical needs. The industry wrote HK$141.1 billion (US$18 billion) in new life policies in the first quarter, compared with HK$93.4 billion a year earlier, according to data from the Insurance Authority released on Friday. It marked the third year that first-quarter sales hit a record high...
US global asset managers, including BlackRock, have expanded stakes in mainland Chinese pharmaceutical contractor WuXi AppTec over the past two months, betting that a surge in weight-loss drug manufacturing orders will lift earnings in the first half of the year. Global investors were increasingly interested in China’s contract development and manufacturing organisation, and biotechnology sector, said Linda Shu, head of China healthcare research at HSBC. “WuXi Apptec is heavily owned given its...
China’s securities watchdog has pledged to channel more medium- and long-term capital into the country’s stock markets and fortify financial defences against external shocks, as authorities move aggressively to stabilise sentiment following recent market turbulence. At a meeting on Thursday, the China Securities Regulatory Commission announced a raft of measures aimed at maintaining smooth market operations and reinforcing the capital market’s resilience. The regulator said it would “more...
China’s A-share market has seen another high-profile divorce case result in a massive asset split, involving the transfer of 6 billion yuan (US$886 million) – the highest this year – and raising concerns over corporate governance stability and share price fluctuations. Although the scope of the divorce settlement is not at all comparable to that of Jeff Bezos or Bill Gates, it has made tens of thousands of retail investors worry about their portfolio holdings and paper wealth. Maxone...
Oil prices rise for a fifth day after Yemen's Houthis say they struck Saudi Arabian oil tankers in the Red Sea.
The price of Brent crude rose more than 5% on Thursday as the war in the Middle East continues to escalate.
Shanghai is exploring dedicated funds to tackle “choke point” technologies and new channels for offshore yuan capital to invest in China’s tech board, while allowing pre-profit tech firms in AI and nuclear fusion to go public. The municipal government will encourage the launch of dedicated funds focused on addressing “supply-chain gaps and breaking through ‘choke point’ technologies”. The funds would pool investment from corporate investment arms of state-owned enterprises, government-backed...
Hong Kong is reaping rewards from a charm offensive with Malaysia as it works to enhance its attractiveness to global fundraising activities, with deals reached on Thursday during a visit to the Southeast Asian country by the city’s financial services secretary. Bursa Malaysia will become the 21st stock exchange recognised by the city’s bourse operator Hong Kong Exchanges and Clearing (HKEX), clearing the way for Malaysia-listed companies to pursue secondary listings in Hong Kong, according to...
For the most dramatic change in a benchmark index in financial markets in recent years, look no further than the stock markets of developing economies. Just over a year ago, mainland China and India had a combined weight of 50 per cent in the MSCI Emerging Markets Index. Fast forward to today, and it is South Korea and Taiwan that account for over half of the gauge. At the end of last month, the weight of South Korea in the index stood at nearly 24 per cent, four percentage points more than that...
China’s private securities investment funds surpassed 8 trillion yuan (US$1.2 trillion) for the first time at the end of June, emerging as the core engine driving the expansion of the country’s entire private fund industry, according to the Asset Management Association of China. Propelled by the huge growth in securities funds, assets under management in the broader private fund industry hit a record 23.66 trillion yuan, the association said. The sector has achieved record-breaking asset levels...
[The content of this article has been produced by our advertising partner.] For a growing number of Hong Kong millionaire respondents, the mainland Greater Bay Area (GBA) cities becoming part of later-life planning, from healthcare access and living space to retirement lifestyle. Yet many have not fully worked out the financial demands of maintaining a life across Hong Kong and mainland GBA cities, according to a new OCBC Hong Kong survey. According to the bank’s “OCBC Premier Banking – Hong...
Chinese regulators moved on Tuesday to improve the quality of credit ratings for panda bonds – a yuan-denominated asset class that has seen a surge in interest from foreign sovereign and institutional investors this year as a key tool to bolster Beijing’s yuan-internationalisation push. Credit-rating agencies must adhere to the principles of independence, objectivity and prudence, according to a circular posted to the website of the National Association of Financial Market Institutional...
When global index provider MSCI warned in January that Indonesia risked being demoted from emerging to frontier market status, it unleashed a wave of volatility, sell-offs and wild trading swings. Six months on, Jakarta’s investment chief argues the real story is not about whether the country can earn investors’ trust. “For Indonesia, this is not about short-term market status,” Investment Minister Rosan Roeslani told This Week in Asia in written replies to questions. “It is about building a...
A leading Chinese brokerage house has ended market making for the mainland’s only South Korea-focused exchange-traded fund (ETF), as Beijing steps up efforts to stabilise its capital markets and protect retail investors amid volatility in its East Asian neighbour’s stock market. Shenzhen-headquartered China Merchants Securities withdrew as a liquidity provider for the Huatai-PineBridge China-Korea Semiconductor ETF barely a month after assuming the role on June 17, according to Shanghai Stock...
Yields on 10-year US Treasury bills, a bellwether for inflation, are up 60 basis points since the start of the Iran war.
Telecom and cement sectors had witnessed significant consolidation over the years, says MP
A US-headquartered biotech firm plans to seek a primary listing in Hong Kong, joining a swelling pipeline of artificial intelligence-powered medical players raising capital in the city. Axiom Biosciences, which develops experimental therapies for newborns with severe brain injuries by using AI, is targeting at least US$200 million through an initial public offering (IPO) in Hong Kong in 2027, followed by a secondary listing in the US in 2029. “Some of the most important science in the world is...
A sharp pullback in US space-technology giant SpaceX and renewed valuation pressure on Wall Street’s tech heavyweights are unlikely to trigger a major sell-off in Hong Kong equities, according to analysts, who note that local tech firms operate under distinct business models and lack the stretched valuations of their overseas peers. “I don’t think there will be much impact” in Hong Kong, said Kenny Tang Sing-hing, chairman of the Hong Kong Institute of Financial Analysts and Professional...
Hong Kong Exchanges and Clearing (HKEX) would proceed with its listing reform to allow confidential filings and a lower market capitalisation requirement, as part of the exchange operator’s plan to increase its international competitiveness, two sources told the South China Morning Post. The move would be a result of the exchange’s months-long consultations with market participants that began in March, and was expected to be announced by the end of this month, the sources said. “The exchange...
The BRLMs shall advise the company in the preparation and management of the IPO, including undertaking due diligence, preparation of offer documents and coordination with regulatory authorities and intermediaries, NLCIL says
Bourse operator Hong Kong Exchanges and Clearing (HKEX) is considering extending trading hours to align with moves by global peers and sharpen the city’s competitiveness as an international financial centre. HKEX and the Securities and Futures Commission (SFC) confirmed that they were discussing the matter, but did not give details. The discussion was in an early stage and options included extending the afternoon close to 5pm or even 8pm, two separate sources told the South China Morning Post....
Hong Kong has come out on top again, but not in a good way. After earning the distinction of having the highest petrol prices in the world, we have again been named the world’s priciest residential property market in the “Mapping the World’s Prices” report released by Deutsche Bank. We managed to keep our top spot despite a 10 per cent drop in property prices from pre-pandemic levels. Naturally, this is not something Chief Executive John Lee Ka-chiu will be blowing his horn about. Generations of...
BNP Paribas, France’s largest lender and the second-largest in Europe, has found that an increasing number of wealthy European clients are seeking to establish family offices in Hong Kong to capitalise on growing opportunities in the region, according to a banker from the lender. A growing number of wealthy mainland clients were also looking to invest in Europe, said Lemuel Lee, head of wealth management for BNP Paribas in Hong Kong. “The two-way capital flow between Europe and mainland China is...
Malaysia’s anti-corruption agency has opened an investigation into losses tied to state pension fund Kumpulan Wang Persaraan Diperbadankan’s investment in failed Indonesian agritech start-up eFishery. A team was formed on Friday to “study and examine the issue thoroughly,” Malaysian Anti-Corruption Commission Chief Commissioner Abdul Halim Aman said in a statement on Saturday. “The investigation will be conducted fairly, transparently and impartially based on existing legal provisions,” Abdul...
Official support and collaboration with private capital are critical for sovereign wealth funds to succeed, the head of Hong Kong’s government-owned investment vehicle has said, as she spelled out strategies needed to deliver high returns. At the inaugural Nusa Dua Forum organised by the South China Morning Post and Indonesia’s sovereign wealth fund Danantara in Bali on Friday, Hong Kong Investment Corporation (HKIC) CEO Clara Chan Ka-chai said that partnerships were key to its strong...
Indonesia’s Danantara must outlive political administrations to prove its worth to investors and most importantly to the people, according to the sovereign wealth fund’s chief investment officer. Pandu Sjahrir said the fund was focused on the demutualisation of Jakarta’s stock market and to support the establishment of the first financial centre in Bali to boost investor confidence. “Investment is almost everything for us. Confidence is the name of the game, and we have to create long-term...
Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, has sold out the first batch of units at its Garden Regency project in the New Territories on Saturday, according to agents. By 3.30pm, all 138 flats the developer had launched in the Kam Tin North project in Yuen Long had found buyers, the agents said. The launch of the three-tower development of 566 units marks SHKP’s return to the market two months after units at its Lime Spark project in Tsuen Wan were...
Indonesia is pushing ahead to transform the holiday island of Bali into an international financial centre, with its parliament set to debate new laws this week while a key conference set out targets and cited models such as Hong Kong as an example. Minister of Investment and Downstream Industry Rosan Roeslani, who heads state-owned sovereign wealth fund Danantara Indonesia, said the financial centre was part of Jakarta’s efforts to establish itself as a trusted destination for investors seeking...
What if Wall Street stock prices were to collapse from their current pinnacles under the sheer weight of excessive investment in artificial intelligence (AI)? Would markets in Tokyo and other Asian centres – not to mention Europe and beyond – follow suit? These are questions that are likely to be put to the test before long if US stock prices continue their strong upward trajectory, interest rates and inflation keep rising and, as seems likely, the US-Israel war against Iran drags on. What a...
Gujarat scored 56.6 points, ahead of Maharashtra (53.7) and Tamil Nadu (53.3), in an assessment of 17 major States
China’s yoga apparel market is grappling with fierce competition and slowing growth amid sluggish domestic consumption, as middle-class shoppers diversify their activities, according to analysts. Lululemon, the Canadian athletic apparel brand popular among China’s middle class, continues to face sales pressure in the world’s second-largest consumer market. Lululemon’s same-store sales growth at sampled Chinese shopping malls dropped 4 per cent year on year in May, compared with a 3 per cent...
Apple regained world’s top spot with $4.88 trillion valuation, overtaking Nvidia which saw a 3.5% market value drop.
PM Modi's vision helped bring a shift in banking culture ensuring easy credit flow to small businesses and freeing borrowers from clutches of private money lenders, says Union Finance Minister at a credit outreach programme in A.P.; ₹3,216 cr. is being distributed to over one lakh beneficiaries in Palnadu, says CM Chandrababu Naidu
Trump Media is launching a fast, paid feed to its most influential posts for Wall Street traders.
A coordinated push towards global market diversification is urgently needed to shield savers from a potentially dangerous valuation correction in highly concentrated US equities, a former World Bank official has warned. Speaking at an event in Hong Kong on Thursday, Ian Goldin, the former World Bank vice-president, now a professor of globalisation and development at Oxford University, said the growing concentration of capital in a handful of highly valued US technology companies had left...
Wall Street investment bank Goldman Sachs has cast a vote of confidence in Hong Kong’s financial future by reaffirming its “buy rating” on Hong Kong Exchanges and Clearing (HKEX), as Beijing ramps up policy support to cement the city’s status as an international financial centre. “We see multiple tailwinds to ADT [average daily turnover] and revenue growth” in the second half of this year, analysts Thomas Wang and Simone Chen wrote in a research note on Wednesday. The move comes amid weak share...
A growing number of mainland Chinese institutional fund managers have built up stakes in Hong Kong-listed biotechnology stocks over the past month, drawn by attractive valuations amid a surge in cross-border licensing deals in the sector. China’s largest mutual fund manager, E Fund Management, has taken a 7 per cent stake in gene-editing biotechnology firm Biocytogen Pharmaceuticals, buying additional 91,500 shares in the Beijing-based firm at an average price of HK$46.90 each on July 2,...
The Hong Kong Investment Corporation (HKIC) recorded a major jump in investment income during its second year of operation, as it expanded its role as the city’s “patient capital” engine driving local economic development. The wholly state-owned investment firm generated about HK$6.46 billion (US$824 million) in investment income in 2025, a stunning 175 per cent year-on-year increase, according to its latest financial report released on Thursday. The fund achieved a net internal rate of return...
When Hong Kong launched its latest Connect programme on July 7, most of the attention focused on gold. That misses the bigger story. Delivery Connect, part of the city’s new gold clearing and settlement system, is not simply another financial initiative but the latest evidence that Beijing has settled on a distinctive model for opening up China’s financial markets. Rather than embracing wholesale financial liberalisation, China is steadily integrating with global markets through carefully...
Hong Kong needs to diversify the source of its listed companies and investors if it is to reclaim its recently lost crown as the world’s top initial public offering (IPO) venue, according to a government think tank. “Hong Kong should continue to find ways to diversify both its listing issuers as well as potential future investors,” said Benjamin Hung Pi-cheng, chairman of the Financial Services Development Council (FSDC), at a media briefing on Wednesday. “That form of diversification enhances...
China’s leading memory chipmaker, ChangXin Memory Technologies (CXMT), has priced its Shanghai initial public offering at 8.66 yuan (US$1.28) apiece, positioning the company for the largest listing by a Chinese semiconductor company on a mainland bourse. The firm, based in Hefei, Anhui province, is expected to raise gross proceeds of 57.9 billion yuan (US$8.5 billion) from the sale of nearly 6.7 billion shares, according to an offering announcement released on Tuesday. The shares represent 10...
New home prices in four Chinese first-tier cities rose by an average of 0.1 per cent last month, extending a four-month rebound and signalling a gradual recovery in market sentiment as housing stabilisation measures gain traction. Compared with May, home prices edged up 0.3 per cent in Shanghai and Shenzhen and by 0.2 per cent in Guangzhou, according to data released by the National Bureau of Statistics on Wednesday. However, they fell 0.3 per cent in Beijing. Among 70 large and medium-sized...
Many mainland Chinese businesses that joined a Hong Kong-led delegation to Central Asia last month are preparing to list in the city to raise capital for global expansion, Chief Executive John Lee Ka-chiu has revealed. At a summit on Tuesday, the city leader stressed that Hong Kong would continue to leverage its role as a “superconnector” and “super value-adder” to support businesses expanding overseas, amid accelerating global shifts and protectionism that were disrupting the international...
Brent crude nears $85 a barrel amid renewed hostiles between Washington and Tehran.
The London Clearing House (LCH) has begun accepting offshore yuan-denominated Chinese government bonds as eligible non-cash collateral, marking a structural milestone in Beijing’s decade-long push to internationalise its currency and integrate its debt into global financial pipelines. The decision by LCH – a major derivatives clearing house owned by the London Stock Exchange Group – allows investors to use offshore yuan sovereign bonds, or dim sum bonds, to meet margin requirements. The move...
Futu Holdings, the Nasdaq listed Chinese broker that was recently penalised by China’s securities regulator, said it expects a gradual fall off in mainland business but has no plan to cut Hong Kong outlets. Mainland Chinese-funded accounts had dropped to 13 per cent of its total and their combined size was 17 per cent of total client assets at the end of March 2026, the broker said in a briefing in Hong Kong on Monday, without providing comparison figures. “It will definitely see a gradual...
Chinese-American billionaire investor Duan Yongping has increased his holdings in Pop Mart for a third time, reinforcing his long-term bullish view on the toy brand, as some questioned the sustainability of demand for the company’s intellectual property (IP) portfolio led by the blockbuster Labubu doll. Duan, 65, dubbed “China’s Warren Buffett” by some investors for his investment acumen, increased his stake in the Hong Kong-listed Pop Mart on July 6 through his wholly owned company H&H...
A month on from the firm's stock market debut, the reality of how SpaceX currently makes money has seemed to come into clearer focus.
Overseas capital has poured into China’s hard technology champions at an unprecedented pace, driving the market value of their mainland equity holdings to an all-time high by the end of this year’s second quarter. Global investors have increased their exposure to China’s advanced manufacturing and technology companies, helping push the northbound holdings under the mainland-Hong Kong Stock Connect scheme to a record high of 3.13 trillion yuan (US$461.65 billion) by the end of June, according to...
South Korea’s foreigner-only casinos are gaining renewed momentum this year, triggered by a steady recovery in inbound tourism and expectations of a surge in Chinese group travel in the second half, according to a recent analysis by Shinhan Securities. Unlike other tourism segments that move with domestic consumption, casino performance is closely tied to inbound flows, making the pace of Chinese visitor growth the key variable for the remainder of the year. “Inbound indicators such as arrivals,...
Brokers expect HSBC Holdings, a staple in the portfolios of Hongkongers, to see a large increase in interest from both local and international investors, as the stock’s minimum trading unit is set to change as part of the stock exchange’s board-lot reform process. Investors have long sought the change for the stock – known as a “widow and orphan” stock, as it pays a high dividend while bearing low risk – because its 400-share lot put it out of reach for many. At that level, retail investors had...
Some of Hong Kong’s largest developers, including Sun Hung Kai Properties (SHKP) and Wheelock Properties, are set to release new units in residential projects this month amid an expected cooling of price increases. SHKP, the city’s largest developer in terms of market capitalisation, released the price list for 120 units at its Garden Regency project in Kam Tin North in the New Territories on Tuesday. With maximum discounts of 16 per cent, the flats, ranging between 289 sq ft and 412 sq ft in...
Companies backed by the state and provincial governments in China have announced new funds to focus on the semiconductor industry, which requires a large amount of time and resources to grow, at a time when the country is in need of more “patient capital”. China Life Insurance, the country’s largest life insurer, backed by the State Council, said it would establish a partnership with total capital of 5 billion yuan (US$737 million) that “principally invests in companies operating in the...
Like many people outside the United States, I admire much of what it represents: open debate, strong institutions, energetic politics and the belief that public power should be restrained by rules. That is why watching the US today is so extraordinary. Consider US President Donald Trump’s meme coin. Nearly a million accounts that bought the $TRUMP coin have lost money, according to a report in The New York Times based on analysis of blockchain transactions. Their collective losses have been...
State government accords in-principle approval to mobilise ₹1,010 crore, constitutes a high-level Screening Committee to oversee bid evaluation, selection of merchant banker and implementation of the programme
Bitcoin is falling, yet cryptocurrency is spreading beyond investing into politics, sanctions and global finance.
The city leads the country in office space transactions, says Knight Frank India
NCDEX recently announced that the black pepper futures contract will start trading from July 15 with Kochi designated as the delivery and pricing centre
With its multi-currency advantages and regulatory clarity, Hong Kong has become a critical gateway connecting stablecoins – cryptocurrencies pegged to a stable asset like the US dollar – with traditional finance. Executives said this would help businesses cut costs, lower risks and support expansion into emerging markets. The city’s unique positioning stemmed from its century-long role as a gateway for international business, said Arjun Sethi, Co-CEO of Payward, the parent company of Kraken – a...
South Korean chip giant makes largest-ever debut by a foreign firm in the US, eclipsing Alibaba's 2014 IPO.
The Hong Kong stock exchange is drawing a growing number of foreign companies from across Asia and North America that are seeking international capital, as the bourse marks progress in its ambition to be a global magnet for fundraising. The latest firm seeking to join the cohort is Kazakhstan Temir Zholy, the Central Asian nation’s railway operator and owner of the country’s largest fleet of locomotives and rolling stock, which filed for a Hong Kong listing on June 30, according to bourse...
The shares are set to start trading on the Nasdaq on Friday in what will be the largest ever debut by a foreign firm.
Hong Kong’s updated yuan financing tool for banks, featuring a quota 150 per cent larger than before, was launched on Friday, giving a significant boost to the use of the Chinese currency in daily global business. What is the RMB Business Facility? The RMB Business Facility is a funding window run by the Hong Kong Monetary Authority (HKMA) that allows participating banks to borrow yuan at the relatively cheap Shanghai three-month interbank offered rate, which is about 2 percentage points lower...
Bitcoin is falling, yet cryptocurrency is spreading beyond investing into politics, sanctions and global finance.
Why are global investors so bearish on the yen? There are good reasons Japan’s currency should be gaining in value. Last month, the Bank of Japan (BOJ) raised interest rates to a 31-year high of 1 per cent and signalled it would continue increasing borrowing costs. Bond markets are currently pricing in a nearly 90 per cent probability of another increase by December. Nominal wages in Japan have risen by more than 3 per cent for four straight months, the longest streak since 1992. Moreover, the...
AustralianSuper pension fund said the investment would come on top of the 240 million Australian Dollars it committed seven years ago
Hong Kong stocks retreated on Thursday morning, surrendering recent gains as ongoing volatility across Asian markets and a brutal tech sell-off in neighbouring bourses weighed on local sentiment. At the lunchtime break, the benchmark Hang Seng Index was down 0.78 per cent to 24,011, erasing its initial upwards momentum. The Hang Seng Tech Index edged down 0.06 per cent, as the broader regional drag overshadowed optimism surrounding recent initial public offering lock-up expirations. Among...
Contemporary Amperex Technology Co Limited (CATL) will see 50 per cent growth in its share price to a record high over the next 12 months, as it benefits from rising demand for energy independence, according to Goldman Sachs. The Wall Street investment bank expected CATL’s battery energy storage system business to be its next value-creation engine, though the market is viewing the business more for its potential to increase battery volumes. “We see a strategic integration push that can lift...
Hong Kong’s retail leasing market remained under pressure with rental rates far below the pre-pandemic levels, while Beijing’s crackdown on capital flight and a potential rate hike in the second half of the year by the US Federal Reserve would add to sector uncertainties, according to analysts. The food and beverage sector has seen numerous closures of both casual eateries and high-end restaurants in recent months. Fast-food chain Maxim’s MX scaled back operations and closed its South Horizons...
The median cost of a home in the city is now $1.7m, a record high, according to the latest figures.
Travel stocks plunged as fuel costs rise, United Airlines fell 3 percent, while energy stocks saw gains.
Shares of Alibaba Group Holding surged to a high of 13.8 per cent in Hong Kong on Wednesday as equity analysts expect revenue to reaccelerate in the June quarter, driven by growing demand for artificial intelligence and narrowing losses in food delivery. The gain, the strongest this year, came before the company closed up 12.2 per cent at HK$107.5 (US$13.71). Rivals Tencent Holdings and Meituan saw their shares grow 3.8 and 3.3 per cent, respectively, while the Hang Seng Tech Index increased by...
Chinese investors pulled a record US$2.91 billion out of domestic gold exchange-traded funds (ETFs) in June, taking profits as a stock-market surge and a strong yuan dimmed the appeal of the safe-haven metal, according to the World Gold Council (WGC). Mainland Chinese funds were the biggest drag on Asia’s gold ETFs in June, “as local investor risk appetite continued to improve”, prompting them to turn to higher risk, higher return assets, according to the findings of the council’s report...
Hong Kong stocks rebounded on Wednesday as concerns over a wave of lock-up expiries, long seen as a major headwind for the city’s equities, showed early signs of easing, while continued strength in technology stocks lifted broader market sentiment. The Hang Seng Index rose 2.4 per cent to 24,057 at the noon break, with technology shares leading broad-based gains despite renewed geopolitical tensions in the Middle East. The Hang Seng Tech Index outpaced the broader market, surging 4.3 per...
Brent crude rises above $76 a barrel for the first time in two weeks amid renewed violence in Strait of Hormuz.
SpaceX joins Nasdaq-100 after IPO, bypassing traditional three-month trading rule for inclusion in the tech-heavy index.
Musk-led company joined the index on Tuesday, less than a month after its stock market debut on June 12.
The launch of a marine war-risk pool by Hong Kong insurers is a prime example of how the city’s insurers can collaborate not just for the benefit of the local economy but for the entire nation, an industry veteran has said. At the South China Morning Post’s China Conference, themed “Intelligence at Scale: Hong Kong’s AI-Powered Future”, panel speakers considered how the insurance industry could bolster financial resilience across the Greater Bay Area. Speaking at the event, Selina Lau Pui-ling,...
Industrialisation should complement agriculture by creating additional income opportunities for farmers and enabling them to emerge as entrepreneurs, says Chandrababu Naidu
Hong Kong will substantially increase its yuan facilities for banks from this Friday, while the city will also introduce a new electronic fixed income and currency (FIC) trading system as part of its latest efforts to promote yuan trading, according to local market regulators on Tuesday. Hong Kong Monetary Authority (HKMA) would increase the quota of its RMB Business Facility for banks by 1.5 times to 500 billion yuan (US$73.6 billion) from this Friday, according to its chief executive Eddie Yue...
Hong Kong’s stock market could face sell-off pressure amid a torrent of new share supply in coming days as the six-month lock-up period ends for hot artificial intelligence and semiconductor picks including Zhipu AI and MiniMax. Meanwhile analysts warned of rising fears of a drain on liquidity as many of the same companies were eyeing large secondary share placements. The market was facing dual selling pressure, said Stevan Tam, associate director at Fulbright Financial. “These stocks have...