Hong Kong’s Hang Seng Index HSI, -0.93% fell 0.9%. The Shanghai Composite SHCOMP, -0.18% lost 0.2% and the Shenzhen Composite 399106, -0.55% dropped 0.6%. The startup-heavy ChiNext dropped 0.8% to set another four-month closing low. It’s fallen 13 of ... ( read original story ...)
Xiaomi: What To Expect For The Upcoming IPO
Source: HNFC The confirmation of a Hong Kong IPO comes after listing approval, which was reported on Thursday June 7th. Xiaomi's IPO is making waves for a couple of reasons: size and content. The IPO is expected to raise $10 billion at a valuation up to $ ... ( read original story ...)
The seven best jobs at HSBC in Hong Kong, according to John Flint
HSBC chief executive John Flint was in no mood for modesty when he visited Hong Kong earlier this week to deliver a strategy update. “Hong Kong is our biggest market and we’re its biggest bank,” he told analysts. But while his message – for Hong ... ( read original story ...)
Hang Seng slammed for 375-point loss in afternoon trade as the higher cost of money rattles investors
The city’s biggest lenders such as HSBC, Bank of China (Hong Kong), and Hang Seng Bank have a prime rate of 5 per cent. Standard Chartered and Bank of East Asia set their prime rate of 5.25 per cent. How are Hong Kong’s mortgage rates priced? ( read original story ...)
US Fed policy compounds pressure on Hong Kong’s mortgage rates
Short term interest rates in Hong Kong are rising at a lively pace and reviving concerns among analysts that tightening financial conditions will challenge the highly valued local property market. Three-month Hibor, Hong Kong’s short-term interbank ... ( read original story ...)
Hong Kong market could open cash flood gates for U.S. biotechs
Sorrento Therapeutics Inc is among a few early-stage U.S. biotechs wary of being overlooked in a crowded New York stock market and looking at listing itself in Hong Kong as Asia’s financial center rolls out the red carpet with a drastic overhaul of ... ( read original story ...)
In second bet on fintech, former Hong Kong financial secretary John Tsang backs identification project
John Tsang Chun-wah, former Hong Kong financial secretary and chief executive aspirant in 2017, has embarked on a new chapter, one that he has promoted since his time in office – fintech investment. He was last week named vice-chairman of Ion Pacific, a ... ( read original story ...)
No regrets or looking back for ex-Hong Kong financial secretary John Tsang as he focuses on technology and youth ventures
Political veteran John Tsang Chun-wah is travelling on a road of no return, embracing technology and youth ventures after losing his bid for Hong Kong’s top job to Carrie Lam Cheng Yuet-ngor last year. The former financial secretary, who unexpectedly ... ( read original story ...)
Domestic helpers on the march in Hong Kong to demand better living and working conditions
About 30 domestic workers and their supporters in Hong Kong marched from Admiralty MTR station to the nearby government headquarters on Thursday to demand better living and working conditions ahead of International Domestic Workers’ Day on Saturday. ( read original story ...)
Hongkongers will feel the squeeze as mortgage rates gain momentum
The monthly mortgage repayment of homeowners in Hong Kong is expected to rise to 70 per cent of their monthly income by the end of this year – the highest level in nearly two decades – as mortgage rates kick upwards and home prices show no signs of ... ( read original story ...)
US Fed move piles pressure on Hong Kong’s mortgage rates
Interest rates in Hong Kong are continuing to shoot up at a rapid rate, reviving concerns among analysts that the highly valued local property market bubble could burst. Three-month Hibor, Hong Kong’s short-term interbank lending rate, has jumped by more ... ( read original story ...)
Hong Kong’s central bank raises base rate by 25 bps after Fed hike
The Hong Kong Monetary Authority (HKMA) raised the base rate charged through its overnight discount window by 25 basis points on Thursday to 2.25 percent after the U.S Federal Reserve raised interest rates by a quarter of a percentage point. Hong Kong ... ( read original story ...)
Hong Kong Hang Seng gains 0.13% after Trump-Kim agreement
Hong Kong stock market closed ... limited ahead of major central bank policy meetings. The U. S. Federal Reserve, the European Central Bank and the Bank of Japan will all hold meetings this week. The Hang Seng Index rose 0.13%, or 39.36 points, to close ... ( read original story ...)
Property agents abandon China’s resort island as sales plunge on cooling measures
HONG KONG (Reuters) - Tough measures to cool the property market in China’s resort island of Hainan have put the brakes on a real estate boom and underscore the policy risks developers and investors face as the government tries to rein in prices. ( read original story ...)