HONG KONG/LONDON HSBC (HSBA.L) broke with tradition by choosing outsider Mark Tucker to replace Douglas Flint as chairman later this year, handing the AIA Group (1299.HK) boss the task of selecting a new chief executive for Europe's biggest bank in 2018. ( read original story ...)
HSBC names outsider for chairman
HONG KONG -- HSBC says it's tapping the head of Asian life insurer AIA Group to be its chairman, turning to an outsider for a job it has traditionally filled from within its own ranks. The London-based bank said Monday that it named AIA chief executive ... ( read original story ...)
HSBC Names Mark Tucker to be First Outsider as Chairman
Mr. Tucker, 59, would be the first outsider to take the chairman’s role at HSBC as the bank, which is based in London but generates much of its profit in Asia, reshapes its leadership. He is expected to relocate from Hong Kong to London for the role. ( read original story ...)
Stocks rally after Goldman Sachs raises China forecasts; bank, property sectors shine
Hong Kong’s Hang Seng Index closed Monday at its best level in two weeks ... the issue as it has been the market focus for about two months.” China Construction Bank, Bank of China, and ICBC all jumped more than 3 per cent, closing at HK$6.25, HK$ ... ( read original story ...)
Cities full to bursting: From £400-a-month 'coffin apartments' in Hong Kong to one-room-families in LA, the tiniest living spaces in the world revealed
And for many of its most condensed cities, it's the poorest who must bear the brunt of a worsening battle for space. In Hong Kong, where the cost of property has more than doubled since 2012, some are forced to live in spaces ominously referred to as 'cage ... ( read original story ...)
Hong Kong shopping malls hope more arts events will boost business
In a bid to attract more local customers, Hong Kong’s shopping malls have pledged to boost their arts programmes, despite the recent downturn in the city’s retail sector. Some of the city’s biggest malls are competing during Hong Kong Arts Month and ... ( read original story ...)
The tiniest living spaces in the world: From £400-a-month 'coffin apartments' in Hong Kong to one-room-families in LA, how cities are now full to bursting
In Seoul, South Korea, 73-year-old divorcee Kong Kyung-soon lives in an apartment measuring six square feet Hong Kong prices are so high that for some, cramped wire cages and 'coffin apartments' are the only option Simon Wong, an unemployed 61-year-old ... ( read original story ...)
Hong Kong’s slow economic growth and political divisions were beyond Beijing’s expectations, academics say
Hong Kong’s slow economic growth and acute political divisions since the 1997 handover “went beyond Beijing’s expectations”, and state leaders were “anxious” about the city’s diminishing financial role, a scholar and adviser to the central ... ( read original story ...)
Hong Kong judge scolds lawyers after assault victim is left to stress over testifying against attacker
A judge on Monday chided lawyers for not doing enough to ease pressure on a young sexual assault victim who was left wondering if she had to testify against her attacker in court. It came as judge Johnny Chan Jong-herng sentenced a father of six to 26 ... ( read original story ...)
HK leader given role in China's top political advisory body
BEIJING — China's top political advisory body voted Monday to appoint Hong Kong Chief Executive Leung Chun-ying to the ceremonial post of vice chairman, ahead of his departure from office in July. Leung announced in December that he wouldn't seek a ... ( read original story ...)
Hong Kong’s leader elected to top post of China’s advisory body
he has been firm in stance and resolute in action, effectively safeguarding national sovereignty, security and development interests, as well as Hong Kong’s overall interests, Choi was quoted as saying by state-run Xinhua news agency. ( read original story ...)
Ultra-rich in mainland, HK love property
Visitors take photos at the Kowloon waterfront facing Victoria Harbor that overlooks prime property of Hong Kong. Ultra-rich people grew in Chinese mainland and Hong Kong in 2016. [Photo/Agencies] The Chinese mainland and Hong Kong saw strong growth in ... ( read original story ...)
The shadow looming over Hong Kong’s pumped up asset prices
Because of its “currency board” exchange rate link to the US dollar, Hong Kong automatically imports US monetary policy. So when the US Federal Reserve initiated its “quantitative easing” (QE) policy in the depths of the financial crisis in 2008 ... ( read original story ...)
Hang Seng Rises As Goldman Turns Bullish On China’s Banks
The Hang Seng ... Agricultural Bank of China has the shortest asset duration, which means it can roll over its short-term assets and invest at higher interest rates. Goldman also likes ICBC and Postal Savings Bank of China (1658.Hong Kong). ( read original story ...)