A number of Chinese start-ups trading on National Equities Exchange and Quotations, or Beijing’s “new third board”, are eyeing flotations in Hong Kong after the city launched new listing rules this week, according to lawyers and bankers. “Some of ... ( read original story ...)
Xiaomi’s blockbuster IPO risks leaving Hong Kong’s financial system with a cash crunch
Hosting what’s shaping up to be the world’s biggest initial public offering of 2018 may be a double-edged sword for Hong Kong. Chinese smartphone maker Xiaomi is preparing a share sale that will raise at least US$10 billion, people familiar with the ... ( read original story ...)
Hong Kong stocks close out April with 2.4pc gain, but analysts warn higher volatility likely in May
Hong Kong stocks closed sharply higher on Monday ... than-expected capital outflows and US-China trade uncertainty could hurt tech stocks. The Hang Seng Index advanced 1.7 per cent, or 527.78 points to close at 30,808.45. For April, the index rose 2.4 ... ( read original story ...)
Hong Kong stocks rise as financials climb
Hong Kong’s main Hang Seng index rose to a more than one-week high by lunch ... followed by China Merchants Bank Co Ltd, gaining 5.5 per cent, and Anhui Conch Cement Co Ltd up 4.6 per cent. The three biggest H-shares percentage decliners were BYD Co ... ( read original story ...)
Banks Scrambling for Hong Kong Deposits Push Rates as High as 3%
“This trend will continue as rates are only going up,” Lawrence Kung, head of the deposits department at Wing Lung Bank Ltd. in Hong Kong, said in a phone interview. “Banks are preparing themselves in terms of funding before the rate-hike cycle. ( read original story ...)
Hong Kong’s Thriving Broker Bazaar Hit After Regulators Step In
Chinese firms splashed out on purchases of Hong Kong brokerages in recent years to get a foothold in the former British colony. That wave is ebbing after regulators tightened scrutiny of the practice. Buying Hong Kong-licensed asset managers, brokers or ... ( read original story ...)
Investors Cool a Bit on Big Hong Kong IPO
Tech stocks’ global struggles and U.S.-China trade tensions may have cooled enthusiasm for what some said could have been one of Hong Kong’s hottest-ever initial public offerings: Ping An Insurance Co. 601318 -3.56% of China Ltd.’s sale of a piece of ... ( read original story ...)
Hong Kong’s top court denies 31 major banks and law firms’ bid to support lesbian expat ‘QT’ in LGBT rights battle
The 15 international financial institutions are: ABN AMRO Bank; AIG Insurance Hong Kong; Australia and New Zealand Banking Group; The Bank of New York Mellon; BlackRock Asset Management North Asia; Credit Suisse; Goldman Sachs; Morgan Stanley; Nomura ... ( read original story ...)
Hong Kong Gov’t Report Says Bitcoin Poses ‘Medium-Low’ Risk In Financial Crime
The Hong Kong Financial Services and Treasury (FSTB) released a report yesterday, April 30, on the status of money laundering (ML) and terrorism financing (TF). The report concluded that virtual currencies (VC), like Bitcoin (BTC), are not particularly ... ( read original story ...)
These MBAs just launched an urban farming startup in Hong Kong
A team of five recent MBA graduates from the University of Hong Kong (HKU) have just launched Farmacy HK, a smart city, urban farming concept based on cutting-edge hydroponic technology. The first concept city farm opened in Hong Kong’s Causeway Bay in ... ( read original story ...)
FinTech: This HKU MBA Is Leading Chinese Mobile Payments Startup QFPay’s Global Expansion
Now, after completing a full-time MBA at the University of Hong Kong (HKU), he’s joined groundbreaking mobile payments startup QFPay as an equity investor, driving the fintech firm’s global expansion. QFPay serves over one million merchants in China ... ( read original story ...)
Lack of innovation and incentives holding back Hong Kong from becoming a smart city
But proptech start-ups would also profit off the prohibitively expensive housing in Hong Kong. “An affordability crisis in housing and office markets would reinforce the growth of co-living and co-working spaces in Hong Kong,” the report said. ( read original story ...)
Hong Kong Sevens and Commonwealth Games fixture farce may just have won Fiji the World Series
They lost in the gold medal match of the Commonwealth Games but a tournament that Ben Ryan says is decreasing in relevance may just have won Fiji the HSBC Sevens World Series ... including a dominant victory in Hong Kong – and have all the momentum ... ( read original story ...)
The secret burden of mental illness in Hong Kong
Grant and Parker decided on a fresh start and moved to Hong Kong in January 2017. They wanted to embark on a new adventure and maybe "leave some of what he was feeling behind," Parker said. But it "wasn't really a great tactic," she said. 'Black waves ... ( read original story ...)