5. Will significant fund outflows within a short span of time disrupt the normal functioning of the banking system and even the overall economy of Hong Kong? 6. Will the continued weakening of the HKD and huge fund outflows lead to systemic risk and ... ( read original story ...)
HK dollar weakens to fresh 33-year low
The Hong Kong dollar extended its slide to a fresh 33-year trough on Friday, a day after the city’s de facto central bank said it may not intervene until the currency peg touches the floor of its trading band. The currency hit 7.8440 per US dollar ... ( read original story ...)
Hong Kong man wanted by Interpol for alleged terrorist links denied bail a second time
An Indian-born Hong Kong resident wanted by Interpol for alleged links to terrorism and political killings in his native country was on Friday denied bail by a local court for the second time as he faces a charge over a multimillion-dollar robbery in the city. ( read original story ...)
Hong Kong’s Unshakable Property Faith
While HNA has reason to be pleased, the buyers also look like they're on to a good thing. There's little immediate threat to Hong Kong's ultra-low mortgage rates, and government attempts to cool the market with measures such as higher taxes and down ... ( read original story ...)
Why is the Hong Kong dollar probing the weak end of its band?
Hong Kong’s markets have been flooded with cash over the past decade as heavy money printing by global central banks, led by the U.S. Federal Reserve, directed large flows of new cash to the territory, whose financial centre serves as the main gateway to ... ( read original story ...)
Don’t ignore decision to clear Hong Kong finance chief Paul Chan and wife of defamation, court told
The lawyer defending finance chief Paul Chan Mo-po and his wife in a defamation case on Wednesday said allegations they made of two schoolchildren cheating at school tests are protected by the law, because the couple genuinely believed them. Benjamin Yu SC ... ( read original story ...)
How the rubber duck is Hong Kong’s business and spirit of ‘can do’
In 2013, Dutch artist Florentijn Hofman set afloat a massive, 12-metre rubber duck in Victoria Harbour as part of a world tour. Hofman was on a vague mission of peace and togetherness dedicated to the citizens of the world. The ongoing tour that began in ... ( read original story ...)
Hong Kong by-elections seen as protest vote against China control
HONG KONG (Reuters) - Hong Kong's pro-democracy camp is seeking to regain lost turf in crucial legislative by-elections on Sunday that it hopes will draw protest votes against perceived political screening and creeping control from Communist Party rulers ... ( read original story ...)
MTR reveals 64 per cent rise in net profit to HK$16.8 billion, buoyed by earnings from property development
Hong Kong’s rail operator denied it was becoming a property developer after it announced on Thursday a 64 per cent rise in net profit to hit HK$16.8 billion (US$2.1 billion) for 2017, thanks to bumper earnings from its property portfolio. Less than one ... ( read original story ...)
Hong Kong central bank unmoved as currency hits 33-year low
HONG KONG (Reuters) - The Hong Kong Monetary Authority said on Thursday it had no immediate plans to issue bills to prop up the local dollar until it hit the limits of its trading band but warned that it had sufficient firepower to defend the currency. ( read original story ...)
Hong Kong shark fin imports ‘halved since 2007’, thanks to tighter regulations and shipping bans
Shark fin imports to Hong Kong, the world’s largest fin trading hub, have been cut by half since 2007 owing to shipping bans and tighter international regulations, according to a conservation group. Between 2007 and last year, re-exports also dropped by ... ( read original story ...)
Hong Kong builder enters Toronto market with five-tower development plan
paying Silvercore Inc. $201-million for the property at 5799 Yonge St. in North York. This is the third and largest project announced so far in Canada by the Hong Kong-based company; it has two other projects in Vancouver. Aoyuan has 100 properties – a ... ( read original story ...)
Tencent, Ctrip-Backed Travel Company Plans Hong Kong IPO
Chinese internet giant Tencent Holdings Ltd. may soon have another opportunity to cash in on one of its investments. Tongcheng-Elong Holdings Ltd., a travel company backed by Tencent and China’s largest travel website Ctrip.com International Ltd., is ... ( read original story ...)
Explainer: What ails the Hong Kong dollar? It is the carry trade
Hong Kong’s de facto central bank probably would not take additional steps - such as issuing extra Exchange Fund bills - to soak up the abundant liquidity to curb depreciation pressure. While the stock market becomes more volatile this year, demand for ... ( read original story ...)