The HKMA’s intervention on Wednesday, using its reserves to sell US$200m and buy HK$1.57bn, marked the 14th time that it has stepped in to prop up the persistently weak local currency in the past month, The de facto central bank has spent a total of HK$ ... ( read original story ...)
Hong Kong journalist handcuffed and dragged into police van in Beijing while covering hearing of human rights lawyer Xie Yanyi
... State Council’s Hong Kong and Macau Affairs Office “mediated” at the request of the Hong Kong government. The incident came four days after i-Cable News journalist Chan Ho-fai was kicked and beaten by two men in mainland China’s southwestern ... ( read original story ...)
Hong Kong’s Property Market Blows Past Another Record
Hong Kong’s roaring property market has blown past another record. Sun Hung Kai Properties Ltd. paid HK$25.2 billion ($3.2 billion) for a plot of residential land by the highly sought-after locale near Hong Kong’s former airport, beating out bidders ... ( read original story ...)
Top Hong Kong disease researchers welcome news that mainland Chinese cash will be made available to city at Xi Jinping’s instruction
Thirteen years ago, a national laboratory was launched at the University of Hong Kong to do groundbreaking research on emerging infectious diseases as the city got back on its feet from the deadly 2003 outbreak of severe acute respiratory syndrome (Sars). ( read original story ...)
Hong Kong Steps In to Defend Its Currency Peg Again
Hong Kong stepped in to defend its currency peg for the first time in almost a month. The Hong Kong Monetary Authority mopped up HK$1.57 billion ($200 million) of local dollars overnight after the currency fell to the weak end of its trading band. ( read original story ...)
What may end HK property boom? Here are the triggers
HONG KONG property companies such as Sun Hung Kai Properties Ltd. and CK Asset Holdings Ltd. are bracing for the first increase in the city’s prime rate in more than a decade. A higher prime rate, which sets the upper limits on mortgages, could damp ... ( read original story ...)
UPDATE 1-Hong Kong’s Sun Hung Kai Properties bags ‘land king’ at record price
China’s HNA Group sent shockwaves in the property-obsessed city in late 2016 when it outbid local and mainland developers at nearly double the market forecast in its first land purchase in Hong Kong. It later bought three more land parcels in the same ... ( read original story ...)
From minibuses to world’s most expensive tower: how Hong Kong tycoon Ma Ah Muk made and kept a fortune
His son, Ma Kiu Sang, told the Post that property now accounts for about 80 per cent of the family’s assets. “I’ve long noticed that buying shops and collecting rents is rather stable and can gain a lot in Hong Kong,” said Ma Ah Muk ... ( read original story ...)
Inaugural J.A.D.E. Start-Up Conference in Hong Kong a Big Success
HONG KONG, May 15, 2018 - (ACN Newswire) - The Inaugural J.A.D.E. Start-Up Conference - "Building Resilient Entrepreneurship", co-organised by the Joint Association to Develop Entrepreneurship (J.A.D.E.) and Hong Kong Science & Technology Parks Corporation ... ( read original story ...)
Chinese bitcoin mining gear makers set sights on world’s largest bitcoin IPOs
Canaan Creative has applied to the Hong Kong stock exchange for an IPO while Zhejiang Ebang Communication has started working with advisers on a Hong Kong float, according to IFR, a Thomson Reuters publication. While the price of bitcoin BTC=BTSP has ... ( read original story ...)
$10 Billion Deals Leave Hong Kong’s IPO Chasers Spoilt for Choice
Hong Kong’s IPO chasers are spoilt for choice. Fancy a glittering Chinese tech firm with ambitions to take on Apple Inc.? Or are duller state-owned giants more your thing? Two megadeals are vying for attention in what’s become a busy year for new ... ( read original story ...)
Hong Kong scientists told to love China if they want state support, but leader Carrie Lam calls President Xi Jinping’s offer ‘breakthrough’
Funding that drove China’s tech rise now available to Hong Kong scientists, as Xi Jinping pledges to make city global innovation hub Xi’s move, reported by state news agency Xinhua on Monday, came in response to an appeal by 24 of Hong Kong’s leading ... ( read original story ...)
Hong Kong could overtake New York as the world’s billionaire capital very soon
Hong Kong has been the world's most expensive city for the better ... and exclusivity since the colonial era, reported Business Insider's international correspondent Harrison Jacobs. It's the kind of neighborhood that consistently breaks records for ... ( read original story ...)
Mother on trial in Hong Kong for neglecting daughter, 7, tells court other three children were healthy and good students
A woman on trial for neglecting her seven-year-old daughter to a state of near death in 2015 told a Hong Kong court on Monday she had raised her three other children to be healthy and do well at school. Mandy Wong Wing-man, 42, also alleged for the first ... ( read original story ...)