Category: FINANCE

HONG KONG Guangzhou Rural Commercial Bank Co Ltd (GRCB) priced its Hong Kong IPO slightly below the middle of expectations, a source said on Wednesday, underscoring tepid demand for the $1 billion deal amid concerns over rising non-performing loans in China. ( read original story ...)

HONG KONG, June 14 Guangzhou Rural Commercial Bank Co Ltd (GRCB) priced its Hong Kong IPO slightly below the middle of its indicative range in a deal that has raised about $1 billion, a person with direct knowledge of the transaction said on Wednesday. ( read original story ...)

HONG KONG Typhoon Merbok spared Hong Kong any major damage as it pounded the financial hub with heavy rain and strong winds before moving further inland on Tuesday towards southern China. Financial markets, schools, businesses all resumed normal operations ... ( read original story ...)

Under the linked exchange rate system, the Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, is obliged to buy and sell US dollars to prevent the currency from breaching either side of a trading band between 7.75 and 7.85. ( read original story ...)

Hong Kong banks are accelerating their lending exposure to China ... “Steady growth in lending to Chinese corporates and other non-bank borrowers - particularly private and non-mainland entities - is likely to continue, in part to support their expansion ... ( read original story ...)

Elsewhere in Asia, South Korea’s Kospi added +0.7%, while Hong Kong’s Hang Seng increased +0.4% and the Shanghai Composite Index advanced +0.4%. In Europe, the main indices have rebounded this morning after yesterday’s selloff being led by the FTSE ... ( read original story ...)

(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Robyn Mak HONG KONG, June 13 (Reuters Breakingviews) - Shares of WuXi Biologics, the city's biggest listing this year, popped as much as 39 pct on their debut. ( read original story ...)

Lo Kai-shui, the youngest sibling of one of Hong Kong’s wealthiest real estate clans, reaffirmed his position in support of his mother to remove HSBC as the trust manager of the largest percentage share of the family business. “She [Lo To Lee-kwan ... ( read original story ...)

REIT (00823) to HK$56 from HK$52, and maintained its "hold" rating. The research house said Link REIT's FY2017 distribution per unit (DPU) of HK$2.284 (up 10.8% y-y) was 5% above HSBC's estimate. Solid DPU growth reflected its better NPI margin expansion ... ( read original story ...)

They planned to speak about how the result of the case could affect Hong Kong’s competitiveness and ability to hire global talent. The institutions include: ABN AMRO Bank, AIG Insurance Hong Kong, Australia and New Zealand Banking Group, the Bank of New ... ( read original story ...)

Hang Seng Bank vice-chairman and chief executive Rose Lee Wai-mun, 64, will retire from July after serving at the lender for five years, the bank announced on Thursday. She will be replaced by Louisa Cheang, who has served as group general manager and ... ( read original story ...)

SHANGHAI, June 8 Hong Kong's benchmark Hang Seng Index climbed to another 23-month closing high ... any surprises from Thursday's UK general elections, the European Central Bank's policy meeting and congressional testimony from ex-FBI director James ... ( read original story ...)

More investment banking jobs could eventually move from Hong Kong to China, if global banks such as J.P. Morgan gain greater control over their mainland joint-venture operations, experts warn. J.P. Morgan is working with Chinese regulators to develop a new ... ( read original story ...)

“I feel a little bit sorry for HSBC,” said John Ashwood, Hong Kong managing director at Zedra, a trust services specialist. “What’s going on has nothing to do with the working of the trust but rather a dispute within the Lo family.” The Lo clan ... ( read original story ...)