Tag: finance

Hong Kong’s finance minister said on Saturday that he disagreed with the lowering of the city’s credit rating by US rating agency Standard & Poor’s. The comment by Financial Secretary Paul Chan Mo-po came a day after the downgrade to AA+ from AAA, a ... ( read original story ...)

A top adviser to the Hong Kong government has warned that opposition lawmakers threatened the prospects of the city’s financial services industry if they refused to approve funding for the Financial Services Development Council (FSDC). Laura Cha Shih May ... ( read original story ...)

China’s first online-only insurer has priced its initial public offering (IPO) at the top end of its expected price range, as it looks to raise US$1.5 billion in the city’s biggest fintech IPO, according to press reports. ZhongAn Online Property ... ( read original story ...)

Morgans has upgraded Commonwealth Bank of Australia (CBA.AU) after the lender agreed to sell its Australian and New Zealand life insurance units to Hong Kong-based insurer AIA Group (1299.HK) for AUD3.8 billion (USD3.04 billion). CBA said the sale price ... ( read original story ...)

Release date- 21092017 - Bank of China (Hong Kong) Limited announces that its Hong Kong Dollar prime rate and savings deposit rate will remain unchanged at 5.00% p.a. and 0.01% p.a. respectively. Under the tiered interest rate structure for Hong Kong ... ( read original story ...)

But Geicke said he was “totally surprised” that Hong Kong was downgraded as the city is sitting on a huge financial reserve. The Chinese Ministry of Finance said in a statement posted on its website Friday that S&P’s downgrade on China was a “wrong ... ( read original story ...)

ZhongAn Online Property & Casualty Insurance Co 6060.HK> priced its IPO at the top of an indicated range, raising $1.5 billion(1.10 billion pounds) in Hong Kong's biggest ever financial technology stock offering, IFR reported on Friday. China's first ... ( read original story ...)

The financial hub’s long-term issuer credit rating was lowered to AA+ from AAA, S&P said Anthony Wallace/AFP S&P Global Ratings cut Hong Kong’s credit rating a day after it downgraded China for the first time since 1999, a move that reflects the ... ( read original story ...)

S&P said Friday that it was reducing its long-term rating on Hong Kong by one notch, to AA+ from AAA, reflecting potential spillover risks to the Asian financial center. It said Hong Kong has a good economic outlook, sizable fiscal reserves and credible ... ( read original story ...)

Its impact on financial markets would very limited," said Ken Cheung, senior Asian FX strategist at Mizuho Bank in Hong Kong. "For those invested in yuan-denominated bonds, they care more about yuan expectations. The downgrade decision is likely to have ... ( read original story ...)

Standard & Poor's on Friday slashed Hong Kong's top-notch credit rating ... said a "prolonged period of strong credit growth has increased China's economic financial risks", and downgraded the world's number-two economy from AA-minus to A-plus -- its ... ( read original story ...)

All set with your Hong Kong company and HSBC bank account? Congratulations! It can be quite a feat, especially in today’s rather strict KYC – “Know your Customer” world. So, after you have the bank account, you may want to make some changes. ( read original story ...)

HSBC dragged the most on the Hang Seng Index, down 0.7 per cent to HK$76.15. Chinese financial shares staged a broad retreat. China Construction Bank lost 0.6 per cent to HK$6.63, Ping An Insurance dropped 0.8 per cent to HK$62.1 and China Life Insurance ... ( read original story ...)

Hong Kong is expected to complete new listings for 106 companies raising about HK$85 billion (US$10.90 billion) by September 30 2017, compared with 71 initial public offerings (IPOs) raising HK$134.3 billion in the same period last year, according to the ... ( read original story ...)