A US unit of the Industrial and Commercial Bank of China (ICBC) was hit by a ransomware attack this week that disrupted some of its systems, reportedly hitting liquidity in US Treasuries which may ...
Hong Kong Lowers 2023 GDP Expectations as Recovery Sputters
Hong Kong lowered its economic growth forecast for this year in a sign that tough times are still ahead for the financial hub amid a muted post-pandemic recovery.
Hang Seng index punched as Hong Kong, China risks keep coming
The Hang Seng index record of underperformance continued this week as concerns about the Chinese economy continued. The index has dropped for four straight days and is now nearing the lowest level in ...
Hong Kong poised to manage ‘lion’s share’ of Asia’s wealth as measures draw family offices: JPMorgan private bank CEO
Hong Kong is probably going to be one of the biggest wealth centres in the world, and Singapore is catching up very quickly,’ says Harshika Patel.
Mainland China, Hong Kong and Macau eye closer cooperation to boost fintech innovation in Greater Bay Area
Financial regulators from mainland China, Hong Kong and Macau have proposed to undertake stronger collaboration between the three jurisdictions to promote fintech in the Greater Bay Area.
Wuxi Biologics Unit’s Hong Kong IPO Closes Order Book a Day Early, Sources Say
A unit of Wuxi Biologics closed its order book a day early for its initial public offering, people familiar with the matter said, a rare instance of hot demand in a choppy year for listings in Hong ...
Deutsche Bank boosts Asia bets as clients seek Wall Street alternative -CEO
Deutsche Bank is investing more in Asia Pacific markets to woo clients seeking European lenders amid Sino-U.S. tensions and to profit from the region's higher economic growth compared to other major ...
Swiss Crypto Bank SEBA Wins Hong Kong License
The bank's Hong Kong unit can now deal in and distribute securities, including virtual assets-related products.
Hong Kong’s flagship banking summit largely muted on China market
HONG KONG -- Global executives at Hong Kong's flagship finance event gave few concrete reasons for optimism about the China market in the short term and were only vaguely positive about the longer ...
Chinese firms are increasing diversification outside of China, says HSBC CEO
Diversification away from China is increasing, and it doesn’t just affect foreign companies, according to HSBC CEO Noel Quinn.
Hong Kong offers “potential returns” for money managers in technology, healthcare, green finance, Financial Secretary says
Hong Kong offers enormous investment opportunities for international money managers as the city positions itself as a hub for technologies, healthcare and green finance as well as a conduit for ...
WuXi XDC eyes $470.5M IPO to fuel manufacturing expansions at home and abroad
WuXi XDC is planning to sell 178.45 million in shares in an upcoming Initial Public Offering (IPO) in a bid to rake in 3.68 billion Hong Kong dollars ($470.5 million), according to a prospectus filing (PDF). The stock is expected to start trading on the ...
Hong Kong economy to grow by 3-4% this year on slower-than-expected recovery in tourism and trade, finance chief warns
Financial Secretary Paul Chan says ongoing weakness in exports and fewer tourists in city have affected economy Chinese Vice-Premier He Lifeng tells high-powered summit that Hong Kong has Beijing's ...
Banking chiefs say market vulnerable to ‘geopolitical escalation’, regulatory push
By Selena Li HONG KONG (Reuters) -Top global banking chiefs on Tuesday said they are concerned the financial sector's next crisis may come from rising geopolitical uncertainty which could test ...