Tag: finance

Chong Hing Bank has set its eyes on China’s “Greater Bay Area” initiative, and will be hoping for looser regulation over Hong Kong banks doing business there, said Margaret Leung Ko May-yee, the bank’s deputy chairman and managing director. ( read original story ...)

Citigroup was fined 57 million Hong Kong dollars (€6.16 million) by Hong Kong’s Securities and Futures Commission (SFC) for the bank’s actions around the listing application of an initial public offering (IPO). The US bank was also reprimanded for ... ( read original story ...)

That was in addition to HK$4.789 billion in Hong Kong dollars that the city’s de facto central bank bought earlier during New York trading hours. [nL2N1SN15P] Reuters data shows the latest intervention will reduce the forecast aggregate balance - the sum ... ( read original story ...)

Hong Kong (HKSAR) - The Banking (Amendment) Ordinance 2018 (Commencement) Notice 2018 and the Banking (Exposure Limits) Rules were gazetted today (May 18) to modernise section 87 of the Banking Ordinance in relation to a prescribed limit on equity ... ( read original story ...)

HONG KONG (Reuters Breakingviews) - Citi’s shortcomings on a small Hong Kong IPO offer lessons ahead of a new listings boom. On Thursday, the city’s securities regulator fined the U.S. bank roughly $7 million over the 2009 initial public offering of ... ( read original story ...)

Shares of Tencent Holdings yesterday closed 3.74 percent higher in Hong Kong, outperforming the benchmark Hang Seng index.Stocks of the Chinese ... Tencent's shares after its first quarter report. Deutsche Bank said in a report that Tencent's quarterly ... ( read original story ...)

Citigroup Inc. was fined HK$57 million ($7.3 million) by Hong Kong’s Securities and Futures Commission for the bank’s actions around the listing application of an initial public offering. The U.S. bank was also reprimanded for its failure to discharge ... ( read original story ...)

Mao Daqing, founder and CEO of China’s most valuable co-working space start-up Ucommune, said he would consider an IPO for the firm in two or three years, with Hong Kong being a strong possibility after the city amended its listing rules to welcome more ... ( read original story ...)

A Hong Kong government report says money laundering puts the city at "medium high" risk, with the banking sector risk labeled "high." Reports of suspicious transactions are on the rise, but a lack of qualified experts is putting strains on the system. ( read original story ...)

Hong Kong’s Exchange Fund, the city’s reserves and asset war ... There are political tensions,” HKMA chief executive Norman Chan Tak-lam told the monthly financial affairs panel meeting on Tuesday morning, when he presented the latest Exchange ... ( read original story ...)

It seems that the creator of the Avalon Bitcoin ASIC mining hardware has taken moves to secure a stock listing spot on the Hong Kong stock exchange. The company, usually known as Canaan, is seeking for $1 billion in IPO funding. Canaan Creative, better ... ( read original story ...)

MINSK, 16 May (BelTA) – Belarus and Hong Kong have discussed matters concerning the advancement of cooperation in trade and finance, representatives of the Association of Belarusian Banks told BelTA. The Association's Chairman Alexander Kuchinsky met ... ( read original story ...)

There have been fierce debates in the United Kingdom and the rest of Europe since the Brexit vote about what might happen to the City of London in terms of its position as the world’s pre-eminent financial services centre. These arguments by ... ( read original story ...)

The Hong Kong Monetary Authority, the city’s de facto central bank, intervened in the foreign currency market to defend the Hong Kong dollar on Tuesday, bringing its total purchases of its own currency since April to about HK$52.9 billion (US$6.7 billion). ( read original story ...)