Hong Kong’s de facto central bank said on Friday it had sold HK$3.26 billion (US$415.3 million) worth of US dollars in an attempt to prop up the Hong Kong dollar after it slumped to its weakest level in 35 years and breached the lower limit of its ... ( read original story ...)
HKMA intervenes as Hong Kong dollar hits weak end of trading band
HONG KONG (Reuters) - Hong Kong’s central bank intervened in the market for the first time since 2015 after its currency hit the weaker end of its trading range, nudging up a key lending rate that could push borrowing costs higher. “I reiterate that ... ( read original story ...)
Hong Kong Monetary Authority steps in to prop up currency as dollar falls to 35-year low
Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA), triggered the weak-side convertibility undertaking by selling US dollars late on Thursday evening after the Hong Kong dollar deteriorated to 7.8500 per US dollar, its weakest ... ( read original story ...)
Hong Kong stocks end the week lower after monetary authority steps in to prop up currency yet again
The Hong Kong stock market ended the week lower ... “Although Stanley hasn’t been handling the business for many years, his retirement means Daisy [his eldest daughter] and Angela [his wife] will have greater power on the board and simplify its ... ( read original story ...)
Duterte apologises to Hong Kong victims of Manila hostage tragedy
Philippine President Rodrigo Duterte took Hong Kong by complete surprise on Thursday, making a full public apology for the Manila bus hostage crisis that left nine people dead nearly eight years ago. On his second visit to the city in 10 months ... ( read original story ...)
Finastra launches sandbox for fintech companies in Hong Kong
McKinsey studies show that 70% of companies are choosing corporate ... this is the first it has launched independently. Hong Kong was chosen due to the high interest in fintech among banks in the city, Coles says, adding that “the interest in is as ... ( read original story ...)
Fraudulent websites related to Hang Seng Bank, Limited
The Hong Kong Monetary Authority (HKMA) today (April 13) wishes to alert members of the public to a press release issued by Hang Seng Bank, Limited on fraudulent website, which has been reported to the HKMA. Hyperlink to the press release is available on ... ( read original story ...)
Hong Kong Monetary Authority Defends Currency’s Dollar Peg for Second Time This Week
Hong Kong’s de facto central bank said it bought 2.44 billion Hong Kong dollars and sold US$311 million early in the day, in order to prevent the financial hub’s currency from weakening beyond its permitted trading range. The HKMA allows the Hong Kong ... ( read original story ...)
Unravelling PNB rot: Hong Kong module in over Rs 13,000 cr scam comes under India scanner
New Delhi: Investigators in the Punjab National Bank (PNB) scam have questioned many auditors in the country and have now zeroed in on a cobweb of Hong Kong-based book-keepers who audit all Indian banks in the special administrative region of the China. ( read original story ...)
Why Hong Kong’s Dull Dollar Has Investors Excited: QuickTake
Pegged to the U.S. dollar since 1983, most of the time the Hong Kong dollar is the dullest currency around. But this past year has been different: It has been falling and falling until in April it finally breached the point at which the central bank must ... ( read original story ...)
HK currency intervention boosts property market risk
HKMA used its reserves to sell US$104m and buy HK$816m from the market, representing the first time the currency has triggered the weak side of the trading band since it was established 13 years ago. The de facto central bank intervened again in early Asia ... ( read original story ...)
UPDATE 4-HKMA intervenes as Hong Kong dollar hits weak end of trading band
HONG KONG, April 13 (Reuters) - Hong Kong’s central bank intervened in the market for the first time since 2015 after its currency hit the weaker end of its trading range, nudging up a key lending rate that could pressure borrowing costs. “I reiterate ... ( read original story ...)
Hong Kong Intervenes to Buy Local Currency, First Time Since ’05
The last time the HKMA bought Hong Kong dollars was in 2005, shortly before the new band was implemented to curb funds flowing into the Asian financial hub to bet on a stronger Chinese yuan. But inflows continued after the financial crisis, encouraged by ... ( read original story ...)
Chinese online medical platform Ping An Healthcare and Technology to raise US$1b from Hong Kong IPO
Ping An Healthcare and Technology, China’s largest health care and online medical platform, is to raise US$1 billion from an initial public offering in Hong Kong and will be traded in early May, after it got a verbal go-ahead by the city’s bourse ... ( read original story ...)