HONG KONG (Reuters) - UBS (UBSG.S) has told staff that it is “business as normal”, after the Swiss bank revealed on Friday it is fighting an 18-month suspension in Hong Kong from leading initial public offerings (IPOs). In an internal memo sent by ... ( read original story ...)
Breakingviews – UBS stands to lose more than IPO fees in Hong Kong
HONG KONG (Reuters Breakingviews) - Old IPOs are bringing new problems for UBS. Hong Kong’s securities regulator intends to suspend the Swiss bank from sponsoring local market debuts for 18 months. Fees for such advisory work may be marginal, but ... ( read original story ...)
Hong Kong stocks climb to two-week high as US job report adds to growth optimism
The Hang Seng Index has rebounded 6.4 per cent from this year’s low in February, as concerns eased about faster-than-expected increases in borrowing costs. Citic Securities estimated as much as 14 per cent growth earnings increase for Hong Kong-traded ... ( read original story ...)
Hong Kong shares extend gains on easing trade fears
Heavyweight mainland financial stocks China Construction Bank (CCB) and Ping An Insurance Group rose 3.1% and 2.3%, respectively. The Hang Seng China Enterprises Index of large mainland companies listed in Hong Kong had advanced 1.8% by midday. Air China ... ( read original story ...)
Hong Kong’s pro-democracy campaign endures election setback
Pro-Beijing parties hold a near unassailable majority in Hong Kong's legislature, LegCo, thanks to the functional constituency system, which allocates seats to certain business, trade and civil society groups, the majority of which take their lead from China. ( read original story ...)
Hong Kong’s Cathay Pacific banks on cargo to bring the cash as 2017 losses forecast at US$357 million
A strong cargo business will be one of the few bright spots for Cathay Pacific Airways when it unveils losses estimated at HK$2.8 billion (US$357 million) on Wednesday on the back of its weak passenger operations. Hong Kong’s biggest airline has carried ... ( read original story ...)
Hong Kong’s stock index futures rise as US job report adds to growth optimism
Hong Kong’s index futures advanced on Monday on optimism about ... March futures contracts on the Hang Seng Index rose 1 per cent, or 315 points, to 31,311 before the spot market opens at 9:30am. The Hang Seng Index added 1.1 per cent to 30,996.21 ... ( read original story ...)
Hong Kong is about to trigger a global financial crisis … Really?
Hong Kong’s foreign exchange market, usually the least interesting financial market in the world, has been making headlines recently. You’ll be glad to know you can breathe easy. The worst that is likely to happen over the coming months in Hong Kong ... ( read original story ...)
Singapore paves the way for legal finance in Asia
Singapore’s reform has kickstarted interest in Asia around the availability of legal finance. Hong Kong was the first to follow, where financing provisions were already in place for insolvency cases (and certain other limited categories). After an ... ( read original story ...)
Hong Kong Sees Salvation From Asset Bubbles in Currency Weakness
It’s not related to the economy. It’s a purely monetary phenomenon,” said Raymond Yeung, an economist at Australia & New Zealand Banking Group Ltd. in Hong Kong. “If Hong Kong rates don’t rise, it’s hard for asset prices to correct.” ( read original story ...)
Hong Kong pro-democracy movement loses ground in byelection
Hong Kong pro-democracy candidates won back only two of four seats in a crucial byelection in the semiautonomous Chinese region, final results showed Monday. The results mean the opposition wasn't able to recapture all its territory, losing some to ... ( read original story ...)
Hong Kong democrats struggle to recapture lost ground in by-elections
who is now effectively declaring himself an emperor,” 21-year-old student democracy activist Joshua Wong wrote on his Facebook page on Sunday after news of the low turnout broke. Hong Kong’s leader Carrie Lam voted at a school in the exclusive Peak ... ( read original story ...)
Hong Kong stocks follow global markets lower amid renewed trade war fears
The top gainers among H-shares were China Merchants Bank Co Ltd up 2.11 per cent ... trading at a premium of 29.82 per cent over the Hong Kong-listed H-shares. The price-to-earnings ratio of the Hang Seng index was 13.16 as of the last full trading ... ( read original story ...)
Hong Kong election gauges city’s stomach for defying Beijing
Hong Kong residents voted Sunday in by-elections that give opposition supporters the chance to recapture lost ground in a contest measuring voters' appetite for democracy in the semiautonomous Chinese city. The vote pitted pro-Beijing loyalists against ... ( read original story ...)