HONG KONG, CHINA–(Marketwired – Nov 21, 2017) – With total outbound spending of US$24.2 billion in 2016, Hong Kong ranked World's 10 th / Asia's 3 rd largest market (UNWTO Tourism Barometer Jun 17), but No.1 among these 10 largest markets by per ... ( read original story ...)
Former Hong Kong leader asks city to look at bigger picture for China’s development
Former chief executive Tung Chee-hwa has urged the city to take better advantage of the economic development of the mainland, warning that Hong Kong cannot afford to be left behind, stuck in “endless internal rifts”. He advised Hongkongers to study ... ( read original story ...)
‘I’ll never set foot in Hong Kong again’: Burglar admits to break-in and kidnapping of city architect
A mainland man who teamed up with two compatriots and swam for two hours to rob and kidnap a veteran Hong Kong architect vowed on Wednesday to never set foot in the city again. Yang Chao pleaded guilty to his crimes at the High Court, in a kidnap case ... ( read original story ...)
Hong Kong shares nearing record high as strong company profits draw Chinese money
Hong Kong stocks surged to within a whisper of an all-time high ... according to a gauge by the Hang Seng Bank which monitors price differences between the two markets. Citic Securities, China’s biggest publicly traded brokerage, said mainland Chinese ... ( read original story ...)
Hong Kong share index passes 30,000
Hong Kong's Hang Seng share index has risen above the 30,000 mark for the first time since November 2007. The index is up by more than a third this year, and is approaching its record high of 31,638.22. That record, however, occurred just before the global ... ( read original story ...)
Greek model arrested at Hong Kong airport with cocaine worth HK$2.4 million
A 19-year-old Greek model was arrested at Hong Kong International Airport on Monday after cocaine with an estimated street value of HK$2.4 million was found in her rucksack. The woman was the fourth female visitor arrested by airport customs officers for ... ( read original story ...)
Hong Kong’s Hang Seng Index Rises Above 30,000 to Decade-High
Goldman Sachs, Bocom expect the rally to continue for now Hong Kong’s benchmark equity gauge rose above the 30,000 level for the first time in a decade as Tencent Holdings Ltd. extended its rally and Chinese financial shares climbed. The Hang Seng Index ... ( read original story ...)
Hong Kong dominates Asian property investment in first half
Hong Kong attracted the most property investment in Asia in the first half of 2017, according to a latest annual property report from PwC. The city took the top investment spot with real estate sales reaching US$8,269 million, a 5 per cent year over year ... ( read original story ...)
Will review of water deal with China make a splash in Hong Kong or drown in delays?
Hong Kong may get a more favourable water import deal with mainland China after 2020, following an agreement between authorities from both sides to review the current price formula. The details on water supply from Guangdong are contained in a document to ... ( read original story ...)
Hong Kong-Zhuhai-Macau mega bridge project set to exceed budget by more than HK$11 billion
Hongkongers are set to foot a bigger bill than expected for the Hong Kong-Zhuhai-Macau bridge after latest estimates showed the cost for the bridge had overrun by one-third, or HK$11.8 billion. Although the main section of the project – a 22.9km ... ( read original story ...)
Tencent links up in BOCHK pay push
BOC Hong Kong (2388), a unit of Bank of China, will reportedly team up with Internet giant Tencent Holdings (0700) to introduce a new cross-border digital wallet. The bank's digital wallet will directly connect with Tencent's flagship WeChat Pay. ( read original story ...)
Hang Seng launches three ‘southbound’ Hong Kong Stock Connect indices
It has 275 constituents, the largest of which is Tencent Holdings (11.5%), China Construction Bank (8.1%) and China Mobile (5.3%). The Hang Seng SCHK ex-AH Companies Index tracks companies only listed in Hong Kong, providing relevant benchmarks for ... ( read original story ...)
HSBC Private Bank fined record HK$400 million, as appeals tribunal concludes earlier SFC sanction ‘was correct’
HSBC Private Bank (Suisse) was fined a record HK$400 million (US$51.2 million) on Tuesday by the Securities and Futures Commission, after losing its appeal against a 2015 ruling for misconduct relating to the sale of structured products linked to Lehman ... ( read original story ...)
Former Hong Kong home secretary turned ‘civil diplomat’ Patrick Ho tapped UN connections to broker deals
A practising eye surgeon before he joined the Hong Kong government in 2002 ... “I don’t find any problems in his honesty,” Ip said, saying he was shocked by the news. He confirmed that Ho had rather strong ties with Beijing officials among the ... ( read original story ...)