It is pegged to the U.S. Dollar and allowed to move within a tight band set by the Hong Kong Monetary Authority. Market News Hexun News: Chinese leading online media of financial news. - Chinese insurance companies have held $49.2 billion foreign assets as ... ( read original story ...)
Hong Kong Halts Stock's 543% Debut in Volatile Equity Market
The regulator will likely speak to the IPO sponsors and interview significant buyers of GME stock and look into their background and source of funds, Neoh added. Run-ups such as GME’s highlight quirks in Hong Kong’s market for small-caps, where wild ... ( read original story ...)
Hong Kong Financial Secretary Paul Chan announces review of city’s narrow tax base ‘problem’
Financial Secretary Paul Chan Mo-po on Wednesday announced a new policy unit would be established in an effort to review Hong Kong’s tax regime and narrow the city’s tax base. In handing down the 2017-18 budget, Chan revealed his plan to widen the ... ( read original story ...)
Ex-Hong Kong leader jailed in fall from 'such a height'
HONG KONG Former Hong Kong leader Donald Tsang was jailed for 20 months on Wednesday for misconduct in public office, making him the most senior city official to serve time behind bars in a ruling some said reaffirmed the financial hub's vaunted rule of law. ( read original story ...)
IPO's 543% Surge Halted by Hong Kong Regulators on Its Debut
More than 20 million shares changed hands in morning session City’s second exchange under scrutiny over manipulation fears Hong Kong’s securities regulator suspended trading in a company’s stock after it rose 543 percent on its public market debut. ( read original story ...)
HSBC is getting hammered this morning after profit at Europe’s largest bank plunged 62%
HONG KONG/LONDON — Annual profit at HSBC Holdings slumped 62 per cent and fell far short of analysts’ estimates as Europe’s largest bank took hefty writedowns from restructuring and pointed to brakes on revenue growth. HSBC shares slid more than 6 ... ( read original story ...)
Hong Kong budget aims for tax cuts, tourism boost to revive growth
Hong Kong's economy grew at a slower pace of 1.9 percent last year and Financial Secretary Paul Chan Mo-po took steps on Wednesday in his first budget address to reverse course by cutting taxes, waiving fees for tourism firms and pledging better services. ( read original story ...)
HK to gear up for green finance: financial chief
HONG KONG, Feb. 22 (Xinhua) -- Hong Kong Financial Secretary Paul Chan Mo-po said on Wednesday that Hong Kong has the potential to develop green finance and the government will intensify its efforts to seek opportunities in this area. When delivering the ... ( read original story ...)
IPO's 543% Surge Halted by Hong Kong Regulators on Trading Debut
More than 20 million shares changed hands in morning session City’s second exchange under scrutiny over manipulation fears Hong Kong’s securities regulator suspended trading in a company’s stock after it rose 543 percent on its public market debut. ( read original story ...)
Hong Kong former leader sentenced to 20 months for misconduct
A former leader of Hong Kong who was knighted by Prince Charles hours before the city’s handover to China was jailed for 20 months on Wednesday for misconduct in public office. Donald Tsang, who was one of the city’s most well-known politicians both ... ( read original story ...)
Ex-Hong Kong leader gets 20 months in jail for misconduct
HONG KONG - A former leader of Hong Kong was sentenced Wednesday to 20 months in prison for misconduct after failing to disclose plans to rent a luxury apartment for his retirement from a businessman applying for a broadcasting license. It was a stunning ... ( read original story ...)
Donald Tsang: Stunning fall as ex-Hong Kong leader gets 20 months in jail for misconduct
Hong Kong's former chief executive Donald Tsang has been sentenced to 20 months in jail in the highest-profile corruption case the semi-autonomous Chinese city has ever seen. Judge Chan calls conviction biggest fall from grace he has ever seen Donald Tsang ... ( read original story ...)
Former Hong Kong chief executive Tsang sentenced to 20 months in prison
A former leader of Hong Kong was sentenced Wednesday to 20 months in prison for misconduct over a luxury apartment in mainland China intended for his retirement. Judge Andrew Chan said that he was going to sentence Donald Tsang to 30 months in jail but ... ( read original story ...)
Annual profits of the Hong Kong and Shanghai Banks down by 62%
Hang Seng in Hong Kong drop by 41%. Hong Kong (AsiaNews) - The 2016 HSBC (Hong Kong and Shanghai Bank) profits have plummeted by 62% in one year according to President Douglas Flint. Announcing the drop today he insisted it was "quite satisfactory" given ... ( read original story ...)