Tag: finance

As Asian currencies started plunging one after another, starting with the Thai baht in July 1997, the attention soon turned to Hong Kong, the financial hub of Asia, barely months after sovereignty had been handed by the British colonial government back to ... ( read original story ...)

Europe’s largest financial institution, HSBC (Hong Kong and Shanghai Banking Company) has made a major announcement today. The worlds seventh largest lender said it will no longer finance projects dealing with coal in developed countries, Arctic drilling ... ( read original story ...)

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for ... ( read original story ...)

The Hong Kong Monetary Authority, the city’s de facto central bank, has since Thursday bought HK$51 billion of its own currency by selling US$6.54 billion worth of US dollars to defend the Hong Kong dollar, a move that its deputy chief executive said was ... ( read original story ...)

Hong Kong’s central bank is buying Hong Kong dollars for the first time since 2005. And lots of them, too. It follows a long slide in the local currency that took it to the lower end of its trading band against the U.S. dollar. In the first week alone of ... ( read original story ...

A 14-year HSBC veteran in Hong Kong has left for an expanding Asian bank in the city. https://news.efinancialcareers.com/sg-en/313325/morgan-stanley-jobs-asian-2018/ Mizuho has hired a 14-year HSBC veteran as a Hong Kong-based chief operating officer. ( read original story ...)

Stocks in Hong Kong rallied at mid day today, backed by oil shares as well as mainland banks. The benchmark Hang Seng Index spiked by 1.28 percent ... added 2.93 percent. Mainland bank shares gained broadly, with China Construction Bank (0939) up by ... ( read original story ...)

HONG KONG (Reuters) - Hong Kong’s central bank said on Thursday it has confidence in the financial hub’s more than three-decade old peg to the U.S. dollar, even as it continued to intervene to prop up the currency and as interbank rates jumped to a 10 ... ( read original story ...)

The Hong Kong Monetary Authority, the city’s de facto central bank, has since Thursday bought HK$51 billion of its own currency by selling US$6.54 billion worth of US dollars to defend the Hong Kong dollar, a move that its deputy chief executive said was ... ( read original story ...)

"The pace of intervention has been faster than what we’ve expected and the aggregate balance would drop to zero in two weeks if this continues," said Ngan Kim Man, deputy head of treasury at China Everbright Bank Co.’s Hong Kong branch. "Traders are ... ( read original story ...)

Overseas students or their families can use the HSBC China mobile app, or WeChat banking, to exchange the yuan into either the US dollar, the British pound, the Canadian dollar, the Australian dollar or the Hong Kong dollar, to pay their tuition fee. ( read original story ...)

HONG KONG (Reuters) - Ant Financial’s rapid climb to become the world’s biggest super unicorn valued by some investors at around $150 billion showcases investor enthusiasm for the biggest Chinese tech companies and also how quickly valuations can shift. ( read original story ...)

The Hong Kong dollar’s interbank borrowing costs rose to their highest level this year, as the city’s de facto central bank bought more of the currency to defend its peg to the greenback. The three-month interbank rate -- known as Hibor -- climbed for ... ( read original story ...)

BEIJING (Reuters) - China Huarong Asset Management Co Ltd (2799.HK) is set to be helmed by a senior bank regulatory official, who will replace the current chairman under investigation for alleged corruption, two people with knowledge of the matter told ... ( read original story ...)