HONG KONG (Reuters) - The Hong Kong Monetary Authority raised the base rate charged through its overnight discount window by 25 basis points on Thursday to 1.75 percent. The move from Hong Kong’s de facto central bank followed the Federal Reserve’s ... ( read original story ...)
Love or hate it, a higher mortgage rate will help to normalise Hong Kong’s housing market
Some people will always complain that a glass is half empty rather than be glad that it is half full. Here at last, comes the remedy to the high home prices about which everyone has complained for years, and what are we told instead? Homebuyers hit. ( read original story ...)
Bank in cashless app deal
BOC Hong Kong (2388) has joined with Tencent's (0700) Wechat Pay HK to offer users a safe and speedy cashless payment experience. Customers of BOCHK can now link their bank accounts to Wechat accounts, and set up daily transaction limits up to as much as ... ( read original story ...)
Hong Kong Finance Regulator Upraises the Legitimacy of Bitcoin Futures
The launch of Bitcoin Futures brought not only the escalation of its price but the hot discussions on the legal and regulatory requirements for that kind of contracts. Bitcoin has become a significant part of the financial markets. It is a hot topic at all ... ( read original story ...)
Joint financial probe good for reputation of Hong Kong
Law enforcement tends to be more effective when agencies pool their resources and cooperate. Such collaboration is usually prompted by offences involving cross-border activity and money laundering such as terrorism and drug trafficking. But it is relevant ... ( read original story ...)
Hong Kong Regulator Issues Warning on Bitcoin Futures
A Hong Kong finance regulator has published a new circular on bitcoin futures and other cryptocurrency-related investment products. Released by the Securities and Futures Commission (SFC) of Hong Kong on Dec. 11, the circular states that only licensed ... ( read original story ...)
China stocks slip as financials weaken; Hong Kong firm ahead of Fed decision
SHANGHAI, Dec 13 (Reuters) - China stocks dipped slightly as financial shares weighed, while the Hong Kong market was firm ahead of a widely expected interest rate hike from the U.S. Federal Reserve. ** At 04:05 GMT, the Shanghai Composite index was down 3 ... ( read original story ...)
Techs, financials help Hong Kong shares rise for third day
HONG KONG (Nikkei Markets) -- Hong Kong shares rose for a third day, helped by an extended rebound in technology companies and gains in financial heavyweights amid expectations that U.S. interest rates are poised to rise. The Hang Seng Index added 1.1% at ... ( read original story ...)
Hong Kong’s regulator, anti-graft body poised for more joint probes on financial malfeasance
An unprecedented joint probe into alleged corruption at a financial services firm by Hong Kong’s market regulator and anti-graft body will “set the scene for future investigations” of a similar nature, the head of the city’s Securities and Futures ... ( read original story ...)
Hong Kong stocks rally, aided by services and financial firms
Dec 13 (Reuters) - Hong Kong stocks rebounded on Wednesday, underpinned by services and financial firms. ** At close of trade, the Hang Seng index was up 428.22 points or 1.49 percent at 29,222.10. The Hang Seng China Enterprises index rose 1.83 percent to ... ( read original story ...)
Tencent-backed We Doctor seeks overseas expansion as it prepares for Hong Kong IPO
according to McKinsey & Co. An overstretched public healthcare system and a lack of doctors is creating demand for premium services - attracting both domestic and foreign medical firms. Chen said Hong Kong made more sense as a venue for We Doctor as the ... ( read original story ...)
InterContinental Grand Stanford Hong Kong Recorded Repeated Wins of World’s Leading Luxury Business Hotel
HONG KONG, Dec. 13, 2017 /PRNewswire/ -- InterContinental Grand Stanford Hong Kong has again triumphed at the World Travel Awards (WTA) Grand Final Gala Ceremony 2017 held in Vietnam, garnering the biggest recognition as World's Leading Luxury Business Hotel. ( read original story ...)
Yes, Hong Kong’s an expensive city, but don’t put too much store by those cost of living surveys
and gains publicity in its target client base by thus showing its knowledge of its business. But I still say it is simplistic. Take, for instance, this bit about petrol costing much more in Hong Kong than it does in New York. One reason is that we tax the ... ( read original story ...)
Nano flats sell for HK$3m as property prices predicted to soar 20 per cent in 2018
Small certainly doesn’t come cheap, when it comes to Hong Kong property. A block full of tiny flats in Yuen Long – a new town far from the centre of the city – are being sold for at least HK$2.99 million (US$383,000) per unit, making it one of the ... ( read original story ...)