This targeted spending contributed to a rise in adjusted costs in the first three months of the year," HSBC's group chief executive, John Flint, said in a statement. The bank's Hong Kong-listed shares, a heavyweight on the benchmark Hang Seng Index ... ( read original story ...)
HSBC’s Hungry Lions Need Fresh Prey
That pricing advantage means loans made by HSBC will be more competitive, profitable, or both. But with its mortgage and developer loans in Hong Kong growing at 16 percent last year, and advances to customers in mainland China expanding by 22 percent ... ( read original story ...)
HSBC shares slide despite $2bn stock buyback
Traders were not impressed with HSBC’s $2bn share buyback, with the stock dropping as much as 2.7 per cent in Hong Kong on Friday as the bank revealed rising costs in its first quarter. HSBC said on Friday it would initiate the buyback soon — but that ... ( read original story ...)
HSBC Holdings profit drops 1.3%, hit by provisions
HONG KONG--HSBC Holdings' first-quarter profits dropped 1.3% from a year ago as it set aside money for potential legal liabilities including its role in the sale of mortage-backed securities in 2007. Net profit for the January-March period stood at US$3.09 ... ( read original story ...)
HSBC Q1 profit misses estimate, unveils US$2b new share buyback
HONG KONG/LONDON: HSBC Holdings PLC posted on Friday an unexpected 4 percent drop in first-quarter pre-tax profit due to a surge in investments, missing estimates, and announced plans to initiate a new share buyback of up to $2 billion. "Given the growth ... ( read original story ...)
Ping An Healthcare opens up 4.6 percent in Hong Kong debut
shares opened up 4.6 percent on their market debut in Hong Kong on Friday, as investors jostled for a piece of the fast-growing business. The company, that operates China’s largest online healthcare platform, raised $1.12 billion after pricing its IPO at ... ( read original story ...)
Alliance of banking big hitters to tackle threat of unregulated fintech in Hong Kong
An influential new international alliance of senior bank officials, financial regulators, and monetary chiefs will launch in Hong Kong next week to help address the threat they believe an unregulated fintech (financial technology) revolution poses to ... ( read original story ...)
B.C. re-focuses on business with Hong Kong with eye on Chinese ‘Greater Bay’ megalopolis
B.C. is renewing its focus on its trade and investment relationship with Hong Kong - just as the Chinese Special Administrative Region (SAR) is seeing an unprecedented plan to integrate with surrounding Mainland Chinese cities to form a massive economic zone. ( read original story ...)
Why Nigerian Internet fraudsters target Chinese, HK bank accounts — Report
West Africa’s infamous Internet scammers have evolved, dropping their impersonations of online love interests, princes and United States soldiers in favour of hijacking corporate emails, costing businesses hundreds of millions of dollars a year. ( read original story ...)
Hong Kong stocks end lower as investors await outcome of US-China trade talks, Fed meeting
Hong Kong stocks fell on Wednesday led by insurers, as investors remained cautious ahead of talks between the US and China this week over thorny trade issues. The benchmark Hang Seng Index eased 0.27 per cent, or 84.57 points, to 30,723.88, while the Hang ... ( read original story ...)
LuLu Financial Group starts Hong Kong operations
Branded as “LuLu Money” in Hong Kong, this is LuLu Financial Group’s tenth country of operation and second in the APAC region, after Philippines. On the occasion Ahamed said, “We are extremely delighted to start our operations in Hong Kong. ( read original story ...)
Xiaomi applies to raise funds in Hong Kong, giving city the pole position in 2018 global IPO race
The company, the world’s fourth-largest smartphone maker ranked by shipment, has submitted an IPO application to the Hong Kong Exchanges & Clearing Limited under new listing regulations for technology start-ups. While the application omitted financial ... ( read original story ...)
Startups Use New Discount Models To Feed Asia’s Eating-Out Crowd
The startup aims to help restaurants increase their profitability ... Last year it expanded into four more markets–Malaysia, Hong Kong, India and the Philippines–and Hong Kong already is its best market in terms of revenue. It boasts 160 employees ... ( read original story ...)
Chinese smartphone maker Xiaomi files for huge Hong Kong IPO
Xiaomi, one of the world's leading smartphone makers, has filed to go public in Hong Kong in what could be the biggest ... Xiaomi, one of the world's most valuable startups, declined to comment Thursday on the value of the IPO, which is expected to happen ... ( read original story ...)