Tag: finance

Group chairman Douglas Flint says geopolitical changes contributed to volatile financial market conditions. Hong Kong: HSBC said Tuesday that net profit fell 82 percent in 2016, calling it a period remembered for its "largely unexpected economic and ... ( read original story ...)

HSBC‘s Hong Kong-listed stock (5.Hong Kong/HSBC) tumbled 3.6% on Tuesday afternoon after the British bank reported its full-year earnings. One-off items sank HSBC today. While adjusted revenue at HSBC was little changed in 2016, reported revenue was 20% ... ( read original story ...)

Financial Secretary Paul Chan Mo-po will unveil a package of incentives to nurture education in Hong Kong and promote innovation and technology, as well as offer a salaries tax rebate when he delivers the government’s budget on Wednesday. Chan ... ( read original story ...)

Hong Kong lost out on Alibaba’s IPO because the Chinese e-commerce giant was adamant on a tiered share structure that the city’s rules do not permit. SGX was edged out by the NYSE for the 2012 IPO of English football giant Manchester United for the ... ( read original story ...)

Hong Kong stocks advanced in early trading on Monday ... including the results of HSBC and Hang Seng Bank due on Tuesday. HSBC traded flat at HK$68.3. Hang Seng Bank dropped 0.3 per cent to HK$163. In the mainland, the Shanghai Composite gained 0.4 ... ( read original story ...)

Hong Kong stocks were poised to open higher Monday ... This week, investors will closely watch a barrage of corporate earnings, including the results of HSBC and Hang Seng Bank due on Tuesday. On Friday, the Dow Jones Industrial Average ended up 4.28 ... ( read original story ...)

It can be a problem, although a “happy” one, trying to figure out how best to spend money when there is plenty to spare. That can well describe the dilemma the city’s new finance minister, Paul Chan Mo-po, is facing before he unveils his maiden ... ( read original story ...)

While Hong Kong is one of the world’s leading IPO venues, it’s been passed over by big Chinese companies such as Alibaba Group Holding Ltd. and Baidu Inc., which listed on New York bourses where different classes of shares are allowed. As Alibaba’s ... ( read original story ...)

Tsang, 72, served as Hong Kong's leader, or chief executive, from 2005 to 2012. He becomes the highest-ranking current or former official convicted of corruption in the Asian financial hub, which prides itself on a reputation for clean governance. ( read original story ...)

"In Hong Kong, Chinese developers and financial institutions have mainly purchased office property, while individual investors have mainly purchased residential property." Investing in Hong Kong provides these investors a way to hedge against possible ... ( read original story ...)

Financial technology experts are calling for better regulations in China and Hong Kong to help the industry thrive, especially since existing laws still lag behind the pace of innovation and technology. China, which is home to companies operating mobile ... ( read original story ...)

HONG KONG A Hong Kong court sentenced seven policemen to two years jail on Friday for beating a handcuffed pro-democracy activist during mass democracy protests in 2014, a rare case of police brutality in the financial hub that triggered public outrage. ( read original story ...)

Hong Kong’s benchmark Hang Seng Index briefly breached 24,000 on Wednesday for the ... Leading the gains were Chinese banks, with Agricultural Bank of China (ABC) surging 6.1 per cent, China Construction Bank (CCB) gaining 5 per cent, Bank of China ... ( read original story ...)

Hong Kong is a favored place for such attacks because of the number of thinly-traded penny stocks in the territory and because its securities industry has fallen behind other financial centers in defending against cyber fraud. At least seven brokers and ... ( read original story ...)