Hong Kong’s Hang Seng Index briefly rose 4%, while the Hang Seng Tech index climbed 5.33%. In mainland China, the Shenzhen Component inched up 0.892%, while the Shanghai Composite Index climbed 0.79%.
HSBC top shareholder Ping An urges aggressive cost cuts, renews spin-off push
HSBC Holdings' largest shareholder Ping An has urged the lender to cut costs aggressively and exit sub-scale non-Asian markets as the Chinese financial conglomerate pushes harder for the bank to spin ...
Ping an Urges HSBC to Make Aggressive Cost Cuts
HSBC should be "more aggressive in radically reducing costs" and consider layoffs, Ping An Asset Management, the bank's largest shareholder and a wholly-owned unit of Ping An Insurance, said in a ...
HK to ensure resilient global financial market
They made the remarks at the investor conversation session of the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit held on Thursday. Hong Kong Financial Secretary Paul Chan ...
China’s Giant Biogene jumps nearly 22per cent in Hong Kong trading debut
Giant Biogene shares rose almost 22per cent on Friday as the Chinese company debuted on Hong Kong's stock exchange after raising US$70 million in its initial public offering (IPO).The company's shares ...
HSBC raising best lending rate to 5.375% after Hong Kong rate hike
HSBC Holdings said on Thursday it is raising its best lending rate in Hong Kong by 25 basis points to 5.375% effective Nov. 4 after the city's de facto central bank raised the base rate charged ...
Mainland Chinese banks, banned from crypto assets at home, weigh services in Hong Kong after policy change
Unlike Hong Kong, the mainland Chinese government regards cryptocurrency as a threat to financial stability and strictly prohibits banks from dealing with cryptocurrencies such as bitcoin. Last year, ...
Hong Kong’s Hang Seng jumps sharply, other Asian markets follow
SYDNEY, NSW, Australia - Stocks in Hong Kong and mainland China jumped sharply on Tuesday, triggering a regional rush to equities. The Hang Seng in Hong Kong surged 768.25 points ...
A combination of factors led to the rally in the Hang Seng index, says Goldman Sachs
Timothy Moe of the investment bank says the Hong Kong's Hang Seng was "ripe for any kind of recovery, rebound and short-selling covering" after it fell sharply recently. Bear market isn't over, but ...
Major banks are bullish on Hong Kong’s economy and China growth prospects
Major lenders are confident in the rebound of Hong Kong's and China's economy, even as China ramps up its Covid measures and a 4.5% drop in Hong Kong's GDP.
Hong Kong hardsells ‘China advantage’ to global banks to revive hub image
Hong Kong leader John Lee on Wednesday pitched the city's connection with China in an address to some of the world's top financial executives, as he strives to rebuild the Chinese territory's ...
‘Law And Order Returned’ Hong Kong’s US-sanctioned Leader Says At Banking Summit
Hong Kong's US-sanctioned leader insisted Wednesday that political stability and business confidence in the city has been restored following the crushing of democracy protests, as he opened a ... ( read original story ...)
Hong Kong Bankers Fear Their Careers Are Coming to an End
It was supposed to be a big celebration for Hong Kong. This week’s Global Financial Leaders' Investment Summit, organized by the city’s central bank, was meant to showcase the revival of Hong Kong as ... ( read original story ...)
Top Citigroup executive says Hong Kong is back to normal, as bank opens new wealth management centre in city
Senior Citi executive says it is ‘business as usual’ in city as lender looks to expand now that pandemic has receded, with a target to capture US$150 billion of new client money from wealthy customers ... ( read original story ...)