“This trend will continue as rates are only going up,” Lawrence Kung, head of the deposits department at Wing Lung Bank Ltd. in Hong Kong, said in a phone interview. “Banks are preparing themselves in terms of funding before the rate-hike cycle. ( read original story ...)
Hong Kong’s Thriving Broker Bazaar Hit After Regulators Step In
Chinese firms splashed out on purchases of Hong Kong brokerages in recent years to get a foothold in the former British colony. That wave is ebbing after regulators tightened scrutiny of the practice. Buying Hong Kong-licensed asset managers, brokers or ... ( read original story ...)
Investors Cool a Bit on Big Hong Kong IPO
Tech stocks’ global struggles and U.S.-China trade tensions may have cooled enthusiasm for what some said could have been one of Hong Kong’s hottest-ever initial public offerings: Ping An Insurance Co. 601318 -3.56% of China Ltd.’s sale of a piece of ... ( read original story ...)
Hong Kong’s top court denies 31 major banks and law firms’ bid to support lesbian expat ‘QT’ in LGBT rights battle
The 15 international financial institutions are: ABN AMRO Bank; AIG Insurance Hong Kong; Australia and New Zealand Banking Group; The Bank of New York Mellon; BlackRock Asset Management North Asia; Credit Suisse; Goldman Sachs; Morgan Stanley; Nomura ... ( read original story ...)
Hong Kong Gov’t Report Says Bitcoin Poses ‘Medium-Low’ Risk In Financial Crime
The Hong Kong Financial Services and Treasury (FSTB) released a report yesterday, April 30, on the status of money laundering (ML) and terrorism financing (TF). The report concluded that virtual currencies (VC), like Bitcoin (BTC), are not particularly ... ( read original story ...)
These MBAs just launched an urban farming startup in Hong Kong
A team of five recent MBA graduates from the University of Hong Kong (HKU) have just launched Farmacy HK, a smart city, urban farming concept based on cutting-edge hydroponic technology. The first concept city farm opened in Hong Kong’s Causeway Bay in ... ( read original story ...)
FinTech: This HKU MBA Is Leading Chinese Mobile Payments Startup QFPay’s Global Expansion
Now, after completing a full-time MBA at the University of Hong Kong (HKU), he’s joined groundbreaking mobile payments startup QFPay as an equity investor, driving the fintech firm’s global expansion. QFPay serves over one million merchants in China ... ( read original story ...)
Lack of innovation and incentives holding back Hong Kong from becoming a smart city
But proptech start-ups would also profit off the prohibitively expensive housing in Hong Kong. “An affordability crisis in housing and office markets would reinforce the growth of co-living and co-working spaces in Hong Kong,” the report said. ( read original story ...)
Hong Kong Sevens and Commonwealth Games fixture farce may just have won Fiji the World Series
They lost in the gold medal match of the Commonwealth Games but a tournament that Ben Ryan says is decreasing in relevance may just have won Fiji the HSBC Sevens World Series ... including a dominant victory in Hong Kong – and have all the momentum ... ( read original story ...)
The secret burden of mental illness in Hong Kong
Grant and Parker decided on a fresh start and moved to Hong Kong in January 2017. They wanted to embark on a new adventure and maybe "leave some of what he was feeling behind," Parker said. But it "wasn't really a great tactic," she said. 'Black waves ... ( read original story ...)
Factbox – Who are Hong Kong’s top biotech IPO hopefuls?
HONG KONG (Reuters) - Biotechs without revenue can apply to list in Hong Kong from Monday under new rules aimed at attracting listings, mostly from China’s fast-developing market. The move is part of a bold effort to rival New York’s Nasdaq, the ... ( read original story ...)
Lacrosse World Cup rebuild in full swing for Hong Kong women’s team after thumping win over China
“That’s the goal and the training has to start now,” said the Hong Kong International School lacrosse team captain. “I’m very privileged to be playing with such an amazing group of young athletes – it comes with a lot of pressure but also an ... ( read original story ...)
Biotech Startup Innovent Gets $150 Million Booster
a developer of biologically-based anti-cancer drugs known as PD-1 inhibitors, has closed a new $150 million funding round as it head towards an initial public offering (IPO) that could be one of the first under new listing rules being rolled out in Hong Kong. ( read original story ...)
Hong Kong stocks higher in early trading, Ping An blazes upbeat path for insurers
... mainland Chinese lenders Industrial and Commercial Bank of China and Bank of China Hong Kong jumped 2.8 per cent to HK$6.97 and 4.7 per cent to HK$40.90 respectively. Hang Seng Bank also hit a three-year high of HK$200.40, gaining 2.45 per cent by noon. ( read original story ...)