HSI financial sector sub-index gains 0.6%; property sector up 0.9% April 29 (Reuters) - Hong Kong shares finished higher on Wednesday, lifted by financials after China's biggest listed banks reported ... ( read original story ...)
HSBC’s first-quarter profits drop by nearly half as coronavirus hits
HSBC set aside more money for potentially larger loan losses due to the coronavirus pandemic and weakening oil prices. ( read original story ...)
At Last, an HSBC Wound That Isn’t Self-Inflicted
As the coronavirus damage ebbs in Hong Kong and mainland China, the bank’s pivot to Asia may yet be vindicated. ( read original story ...)
Hong Kong economy to shrink between 4% and 7% in 2020, says finance chief
Hong Kong Financial Secretary Paul Chan expects the city's economy to contract as much as 7 per cent this year amid the global coronavirus pandemic, much worse than his original projection when ... ( read original story ...)
E-commerce Giant JD Chasing Hong Kong Second Listing: Bloomberg
China's second largest e-commerce company JD.com has filed confidentially to list its shares in Hong Kong hoping to raise at least US$2 billion, a report said Wednesday, following a mega-IPO by rival ... ( read original story ...)
Hong Kong facing greater financial crisis than in 2008 or 1999 warns city’s finance chief, as he predicts ‘long-lasting’ impact of coronavirus
Financial Secretary Paul Chan says economy could shrink by between four and seven per cent, as he says impact of coronavirus will be ‘more serious and long-lasting’ than first thought. ( read original story ...)
JD.com applies for $3 billion Hong Kong secondary listing: sources
HONG KONG (Reuters) - Chinese e-commerce retailer JD.com is pressing ahead with plans for a secondary listing in Hong Kong within the next few months despite the coronavirus pandemic still roiling ... ( read original story ...)
JD Is Said to File for $2 Billion Hong Kong Second Listing
(Bloomberg) -- Chinese e-commerce giant JD.com Inc. has filed confidentially for a second listing in Hong Kong, according to people with knowledge of the matter, joining rival Alibaba in tapping the ... ( read original story ...)
HSBC sees mounting credit losses after pandemic halves first-quarter profit
HSBC Holdings PLC on Tuesday warned of more earnings pain ahead after first-quarter profit nearly halved as it set aside a hefty $3 billion in bad loan provisions due to the coronavirus pandemic. ( read original story ...)
China stocks waver as earnings loom; start-ups surge on IPO reform
China stocks on Tuesday flitted in and out of negative territory but turned positive as the start-up index gained on fresh regulatory reform, while investors awaited big banks to release their ... ( read original story ...)
Mongolia Scraps Coal Miner’s $1 Billion Overseas IPO Plan
(Bloomberg) -- Mongolia has shelved near-term initial public offering plans for state-owned coal miner Erdenes Tavan Tolgoi JSC as the Covid-19 pandemic roils financial markets.The country’s cabinet ... ( read original story ...)
Oriente raises $50 million to continue building its infrastructure for digital financial services
Oriente, a Hong Kong-based startup that develops tech infrastructure for digital credit and other online financial services, has raised $50 million for its ongoing Series B round. Launched in 2017 by ... ( read original story ...)
Hong Kong’s central bank sells HK$10.67 bln in New York hours after HKD rises to trading limit
The Hong Kong Monetary Authority (HKMA) sold HK$10.672 billion ($1.38 billion) worth of Hong Kong dollars in New York trading hours after the local currency hit the strong end of its trading band. ( read original story ...)
China kicks off IPO reform for Shenzhen’s start-up board ChiNext – state media
China on Monday kicked off a reform to fast track initial public offerings (IPOs) on Shenzhen's start-up board ChiNext, as Beijing accelerates capital market restructuring to reinvigorate an economy ... ( read original story ...)