Hong Kong Shares Draw Flat Lead For Wednesday

Galaxy Entertainment and BOC Hong Kong both added 0.37 percent and Hong Kong & China Gas was up 0.24 percent. The lead from Wall Street conveys little guidance as stocks saw a negative bias throughout much of Tuesday's trade before ending roughly flat. ( read original story ...)

Hong Kong group aims to curb money laundering around Asia

HONG KONG (Reuters) - A Hong Kong based NGO backed by regulators, former central bankers and government officials on Wednesday announced an alliance to fight money laundering and regulate the fast growing financial technology space across Asia. The ... ( read original story ...)

PwC buys stake in Chinese blockchain startup VeChain

PwC Hong Kong and PwC Singapore have each acquired a small ownership interest in VeChain, according to PwC’s announcement on May 4. Terms of the investment were not disclosed. As of 1:00 p.m. on Tuesday, Hong Kong time, VEN was trading at US$5.14 ... ( read original story ...)

Swiss Banks: Risky Hong Kong Loopholes

These measures however are porous – which is playing into the hands of Hong Kong-based Swiss banks. This could however pose risks down the line. UBS is the market leader in private banking for wealthy Asian clients, with Credit Suisse in third place and ... ( read original story ...)

Citi Announces Six Open API Partnerships in Hong Kong

in September 2017 to prepare Hong Kong to move into a New Era of Smart Banking. The formulation of a policy framework on Open API was also announced to facilitate the development and wider adoption of API by the banking sector. Mr. Howard Lee ... ( read original story ...)

Rate hikes favorable to local banking stocks

The central bank has stepped in more than 10 times since April 12 as Hong Kong dollar touched the weaker end of its trading band last month. The Hong Kong dollar is allowed to trade in a range of between 7.75 to 7.85 to the US dollar. Market participants ... ( read original story ...)

WeLab to seek virtual banking licence in Hong Kong

WeLab, a fintech (financial technology) unicorn in Hong Kong, is set to secure regulatory approval for its plan to engage in virtual banking. According WeLab founder and chief executive Simon Loong Pui-chi, the company has been working closely with the ... ( read original story ...)