and had collaborated with the Hong Kong Police Force to issue guidance on strengthening security measures, according to a statement by the city’s de facto central bank on Thursday. “The HKMA welcomes ...
100 minibuses repossessed in Hong Kong after owners failed to repay bank loans: operators
Chairman Chow Kwok-keung of the Taxi and Public Light Bus Association on Thursday said banks had not requested early payments but some owners' minibuses were taken away because of overdue instalments.
Hong Kong stocks waver near 7-week high on mixed corporate earnings signals while developers trim speculative rally
Hong Kong stocks wavered near a seven-week high amid mixed corporate earnings signals, as lender HSBC underwhelmed and travel platform operator Trip.com beat consensus. Property developers pared gains ...
HSBC Profits Plummet 80% After Chinese Losses
HSBC’s quarterly profit plunged 80 percent as it took a $3 billion charge on the value of its stake in a Chinese bank and a further write-down on commercial real estate, underlining how a slowdown in ...
Hong Kong’s BEA reports 5.5% lower profit in 2023
The Bank of East Asia reported an increase in operating profit for 2023, although profit attributable to owners of the parent came in lower for the year. Operating profit before impairment losses ...
Hong Kong Bourse May Spin Its Wheels On Thursday
The Hong Kong stock market has moved higher in two straight sessions, accelerating almost 350 points or 2.1 percent along the way.
HSBC profits soar in 2023, announces share buyback despite geopolitical, economic concerns
HSBC said Wednesday it achieved "record profit" in 2023 as pre-tax gains soared by nearly 80 percent, with the banking giant also announcing further share buybacks. The Asia-focused lender and its ...
Bank of East Asia cut its exposure to China’s troubled commercial property sector last year
Hong Kong’s largest family-owned lender said its non-performing loans in mainland China dropped by 0.47 percentage points to 2.68 per cent at the end of 2023 compared with the first half, as its ...
HSBC’s shares slide as $3 billion China bank hit mars record profit
HSBC Holdings on Wednesday reported a shock $3 billion charge on its stake in a Chinese bank amid mounting bad loans in the country, sending the British bank's shares plunging and taking the shine off ...
HSBC’s shares slide as record profit marred by $3 billion China hit
HSBC Holdings on Wednesday reported a $3 billion charge on its stake in a Chinese bank amid mounting bad loans in the world's second-largest economy, taking the shine off a record annual profit.Shares ...
HSBC slides 7% after annual profit misses estimates on China write-down
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.
Hong Kong’s Hang Seng Index Jumps 3%
Hong Kong's benchmark Hang Seng Index jumped 3 percent, or 488.41 points, to 16,735.92, at the break Wednesday, according to the exchange's website.
Hang Seng Bank’s 2023 Net Profit Rose on Postpandemic Recovery
Hang Seng Bank reported a 58% increase in annual net profit, driven by higher net interest income and operating income thanks to the postpandemic economic recovery and border reopening. Net profit ...
HSBC’s $3 billion China writedown mars record annual profit
HSBC Holdings reported a record annual profit, that nonetheless came in below analysts' forecasts as the income boost from higher interest rates was offset by a hefty $3 billion charge from its stake ...