“It’s very unlikely for Hong Kong banks to cut their prime rates given the city’s high property prices and strong housing demand.” (Updates to add economist comments.) --With assistance from Alfred ... ( read original story ...)
Hong Kong June retail sales slide, govt says protests dent business
HONG KONG — Hong Kong retail sales, a key part of the city’s economy, felt a growing impact in June from mass protests, government data showed on Thursday. The government said June retail ... ( read original story ...)
Hong Kong protests tension spills over onto Simon Fraser University campus
Tensions over the ongoing protests in Hong Kong are growing globally, spilling over onto university campuses as far afield as Brisbane, Auckland — and now to Burnaby. At Simon Fraser University ... ( read original story ...)
Property stocks hammered again in Hong Kong, as concerns about protests and its economy continue to grow
But HSBC responded by becoming the first of the city’s commercial banks to say it will keep its prime rate steady. Sun Hung Kai plunged 4.1 per cent to HK$121.7, CK Asset Holdings fell 3.6 per cent to ... ( read original story ...)
Hong Kong financial workers stage flash protest
"It will definitely deteriorate the quality of the banking industry. People will migrate out of Hong Kong together with their property," a Standard Chartered retail banking staffer, who gave his ... ( read original story ...)
Hong Kong bankers join call for citywide strike over handling of outcry over extradition bill
The Hong Kong Professional Teachers’ Union ... Staff from HSBC, Standard Chartered, Citibank, Deutsche Bank, JP Morgan and UBS were among those who backed the call, some posting pictures of their ... ( read original story ...)
Hong Kong cuts rates after Fed move, but banks stand pat on funding pressure
HONG KONG (Reuters) - Hong Kong's central bank lowered its benchmark interest rate on Thursday, its first cut since late 2008, tracking a cut in U.S. rates, although tight cash conditions in the city ... ( read original story ...)
Virtual banking – how we embrace it whilst managing the security risks behind?
Experts in the Banking & Finance and Information Security sector converged at the Communications Association of Hong Kong’s Fintech Forum luncheon, sponsored by CITIC Telecom CPC, to explore the hot ... ( read original story ...)
Hong Kong follows US Fed in cutting interest rate for the first time since 2008 as trade war weighs down on world economy
Hong Kong's monetary authority cut the city's base lending rate for the first time in more than a decade, reducing the cost of money in a slowing economy that had been squeezed by a year-long US-China ... ( read original story ...)
The future of Hong Kong’s property market is looking ‘dim,’ researcher says
The future for Hong Kong's property market is bleak, a commercial real estate services researcher predicts. That expectation comes amid a possible U.S. recession and China-U.S. trade tensions. ... ( read original story ...)
Chinese drugmaker Chipscreen’s STAR Market IPO sees feverish demand
Shares of Ascletis Pharma , the first biotech firm to list in Hong Kong under the new rules, are trading about 66% below is IPO price, while performances of the rest are mixed. ... ( read original story ...)
Hong Kong Exchanges and Clearing : Terms of Reference of the Audit Committee
The Board of Hang Seng Bank Limited ("the Bank") has delegated to the Audit ... Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, Pillar 3 disclosure requirements ... ( read original story ...)
Hang Seng, Shanghai Composite post monthly losses in July, as ongoing trade battling between the US and China bite
The monthly loss for the Hang Seng Index – only the second this year – stood ... US Federal Reserve rate cut could boost Hong Kong-listed bank shares, weigh on weaker property developers, experts say ... ( read original story ...)
Protests Take a Toll on Hong Kong’s Economy
the Hang Seng is up roughly 8% for the year. And much of the decline this month is due to drops in major mainland stocks, such as China Unicom, Country Garden and China Construction Bank. David Webb, ... ( read original story ...)