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Posted on 28/02/2024

Hong Kong Takes Drastic Action to Avert Property Slump

Hong Kong has taken a bold step to ease a real-estate slump, scrapping a series of property taxes in an effort to turn around a market that is often seen as a proxy for the city’s beleaguered economy.

Posted on 28/02/2024

HSBC posts record annual profit but misses estimates on China write-down, shares tumble 7%

HSBC reported on Wednesday its full year 2023 pre-tax profit climbed about 78% to $30.3 billion from a year ago, missing median estimates of $34.06 billion from analysts tracked by LSEG.

Posted on 28/02/2024

Hong Kong lifts curbs on property market, to spend more on tourism

Hong Kong’s government has lifted curbs on property deals after home prices fell to a seven-year low, adding to the Chinese territory's woes. Finance minister Paul Chan announced the move in a speech ...

Posted on 28/02/2024

Hong Kong property stocks jump after city scraps cooling measures

Stocks of Hong Kong property developers rose after financial secretary Paul Chan scrapped Hong Kong's property cooling measures in a bid to bolster the sector. In his budget speech on Wednesday, Chan ...

Posted on 28/02/2024

Hong Kong relaxes lending rules, granting more mortgage loans to homes below HK$30 million to bolster property market

Homes worth less than HK$30 million (US$3.83 million) will be entitled to 70 per cent mortgage financing, compared with the previous 60 per cent credit Residential property that are valued at more ...

Posted on 28/02/2024

Hong Kong Budget 2024: City’s economy grew by 3.2% last year, inflation ‘moderate’

Hong Kong’s economy grew by 3.2 per cent in 2023 after the city lifted stringent Covid-19 restrictions, but the “difficult external environment” continued to limit the pace of growth, the city’s ...

Posted on 28/02/2024

Hong Kong moves towards enacting tougher security law amid concerns about freedoms

A public consultation period for a new Hong Kong national security law closes on Wednesday amid concerns that the legislation, which authorities want to put in place soon, will further erode freedoms ...

Posted on 28/02/2024

3D fashiontech startup Bandicoot Imaging Sciences banks $1 million pre-Seed round

The round was led by Hong Kong VC qonvolv Ventures with Precision Textiles and Mou Fung, plus existing backer NewSouth Innovations.

Posted on 28/02/2024

Hong Kong scraps property tightening measures to aid economic recovery

HONG KONG, Feb 28 (Reuters) - Hong Kong's financial secretary on ... reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to ...

Posted on 28/02/2024

HSBC HOLDINGS Buys back 5.15M+ Shrs for HKD307M Ytd

HSBC HOLDINGS (00005.HK) announced that it repurchased a total of 5.1543 million shares of the company yesterday (27th) in the UK and Hong Kong markets for a total amount of HKD307... HSBC HOLDINGS ...

Posted on 28/02/2024

Hong Kong budget 2024-25: finance chief Paul Chan to deliver blueprint some experts are calling the most difficult ever

Hong Kong finance chief Paul Chan Mo-po will offer his solutions to the city’s sluggish economy and shrinking fiscal reserves in what some analysts are calling the most difficult budget blueprint ever ...

Posted on 28/02/2024

Hong Kong Budget Set to Focus on Boosting Competitiveness, Lifting Recovery

Growth has been picking up, but the recovery hasn’t been as strong as expected, Financial Secretary Paul Chan has said. The external environment remains volatile, and “as a small and fully open ...

Posted on 28/02/2024

Hong Kong’s grade A office rents to fall further, with mainland China demand below pre-pandemic levels, new supply coming online, analysts say

Hong Kong’s grade A office rents will decline by another 5 per ... the vacancy rate to remain relatively high at about 10 per cent for offices in the prime business district, known as Central,” S&P ...

Posted on 28/02/2024

Hong Kong under pressure to ease property curbs ahead of budget reveal

In Hong Kong, property curbs have been in place for over a decade to stop speculation. Business and political groups are now calling for the cooling measures to be scrapped, ahead of the city's budget ...

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