A measure of Hong Kong’s interbank liquidity halved in the past two months, with analysts forecasting more cash drainage as the city’s de-facto central bank defends its currency.Most Read from ... ( read original story ...)
Decouple Hong Kong’s currency peg to the US dollar? ‘Absolutely not’, says finance chief Paul Chan
Peg is aligned with national strategy and fortifies city's standing as international financial centre, Chan tells Post in exclusive interview New administration is in discussions with Beijing on ... ( read original story ...)
IPO Update: GigaCloud Technology Readies $40 Million U.S. IPO
GigaCloud Technology has filed proposed terms for a $39.4 million U.S. IPO. The firm provides a range of ecommerce and related logistics services for businesses with large parcel goods. GCT has grown ... ( read original story ...)
Hong Kong-based TOP Financial stock falls for second day following corporate name change
Hong Kong-based TOP Financial Group (TOP), formerly known as Zhong Yang Financial, saw its shares slide for a second day in the wake of its corporate name change ... ( read original story ...)
Thai Life, SE Asia’s Biggest IPO of 2022, Ends Debut Slightly Below Offer Price
Thai Life Insurance Plc (TLI) shares began trading weakly on the Bangkok stock exchange on Monday in what is South East Asia's largest initial public offering (IPO) so far this year. TLI stock rose 0. ( read original story ...)
SEBA Bank Plans to Raise Headcount in Singapore and Hong Kong Amid Cryptocurrency Sell-Off
According to TechChrunch, the fintech industry accounted for the largest number of layoffs as of the second quarter of 2022. ( read original story ...)
Stock Market LIVE Updates: Hong Kong shares down at open
Hong Kong stocks started Monday on a negative note following losses on Wall Street, with traders looking ahead to a Federal Reserve policy meeting la ... ( read original story ...)
Hong Kong braces for increase in prime interest rate after imminent US Fed action to rein in 40-year-high inflation
The head of the HKMA and analysts believe local rates will rise within weeks after an expected increase of 75 basis points by the US Fed on Thursday Hongkongers with mortgages would face higher ... ( read original story ...)
Big foreign reserve bolsters HK dollar’s peg system: financial secretary
Despite the temporary capital outflow caused by the US' hiking of interest rates, the Hong Kong Special Administration Region (HKSAR) has vast capability to maintain its Linked Exchange Rate System ... ( read original story ...)
Hong Kong’s monetary base is strong enough to uphold US dollar peg despite recent capital outflows, finance chief says
Financial Secretary Paul Chan notes city has US$440 billion in foreign currency reserves, part of solid foundation of linked exchange rate system But he also warns of 'considerable challenges' to pace ... ( read original story ...)
Hong Kong’s monetary base is strong enough to uphold dollar-peg system despite recent capital outflows, finance chief says
Financial Secretary Paul Chan says city has massive US$440 billion foreign currency reserve assets, part of solid foundation of linked exchange rate system However, Chan also warns of 'considerable ... ( read original story ...)
Chinese Communist Party branch formed in HSBC onshore venture
Employees at HSBC’s mainland China securities joint venture have formed a Chinese Communist Party (CCP) branch, in what is believed to be one of the first such branches formed in a foreign-owned ... ( read original story ...)
ED Attaches Nirav Modi Group’s Gems, Bank Deposits Over Rs 250 Crores In Hong Kong
Nirav Modi, 50, is presently lodged in a UK jail and has lost his extradition plea to India in connection with the USD 2-billion PNB fraud case that is also being investigated by the CBI. ( read original story ...)
Hong Kong billionaire to build $1.4bn cultural complex on the coast of China’s Shenzhen
Called K11 ECOAST, the development is reportedly worth $1.4bn and will span more than 2.4 million sq. ft. Located at the waterfront of Shenzhen, a fast-growing region in southeastern China, the ... ( read original story ...)