Category: FINANCE

From the latter part of the 19th century, Hong Kong grew as an Asian financial center, becoming a major international trading hub from the 1950s onwards, acting as a regional headquarters for major banking and corporate firms, serving as a gateway to China. ( read original story ...)

Hong Kong has lost its crown as the world’s favoured destination for companies to raise funds, slipping to the No 3 spot behind New York and Shanghai, amid a dearth of blockbuster listings in the first half, according to preliminary data from Thomson ... ( read original story ...)

Hong Kong has been the world’s second largest initial public offering (IPO) market by value over the past two decades, driven mainly by the listing here of a swathe of mainland companies. But there is one sector in particular that the market has largely ... ( read original story ...)

this reflects the nature of the Hong Kong economy,” he said. In the past 10 years, Hang Seng Bank Ltd., HSBC Holdings Plc and Bank of East Asia Ltd. were joined by mainland giants including Industrial & Commercial Bank of China Ltd., China Construction ... ( read original story ...)

HONG KONG For mainland Chinese, a visit to Hong Kong feels like a voyage back in time. At home they spend weeks without a visiting an ATM or a bank. They use mobile wallets to pay for meals, bills and cabs, or even donate to beggars; they invest their ... ( read original story ...)

HONG KONG China Tower Corp has picked China International Capital Corp Ltd (CICC) (3908.HK) and Goldman Sachs (GS.N) to lead a planned Hong Kong initial public offering worth up to $10 billion, people with direct knowledge of the plans said on Thursday. ( read original story ...)

Bank of China (Hong Kong) ("BOCHK") received the Best SME's Partner Gold Award 2017 from the Hong Kong General Chamber of Small and Medium Business ("HKGCSMB"), in recognition of our long-standing support to the small and medium enterprises ("SMEs") in ... ( read original story ...)

HONG KONG Hong Kong's next leader said on Wednesday she would work to rebuild "social harmony" and push economic development while announcing a new cabinet with few new faces to govern the financial hub. Carrie Lam, 60, Hong Kong's first female chief ... ( read original story ...)

HONG KONG — In many places, US$664,000 can buy you a nice house ... buying a property is not only one of the most important decisions in life, it is also a financial transaction entailing significant leverage through borrowing.” For his money, Kwan ... ( read original story ...)

HONG KONG Shares in Guangzhou Rural Commercial Bank Co Ltd (GRCB) (1551.HK) traded mostly flat in their debut on Tuesday as retail investors shied away from the largest IPO in Hong Kong so far this year, a sign of diminishing interest in financial sector ... ( read original story ...)

Hong Kong’s property market is in a dangerous situation and vulnerable to a correction, Financial Secretary Paul Chan said in an interview. The warning comes as rate hikes by the U.S. Federal Reserve send borrowing costs higher in Hong Kong, given the ... ( read original story ...)

Every swipe on a smartphone brings a smile to Yeung Kin-man’s face. He is the founder of Biel Crystal Manufactory, the world’s largest producer of cover glass, used in two of every three of Apple’s iPhones sold in the world. Yeung plans to sell Biel ... ( read original story ...)

As top banks such as Goldman Sachs, UBS, and Bank of America trim their Asia headcount, businesses across Hong Kong have taken a direct hit. Bo Innovation, a Michelin-star restaurant, said its Western expat customers fell roughly 10 percent in the last 10 ... ( read original story ...)

Hong Kong’s banks are better prepared than 20 years ago for a property market crash, even amid the world’s highest real estate prices, because the banking regulator had already forced lenders through eight rounds of mortgage tightening measures ... ( read original story ...)