China’s central bank has unveiled a slew of market opening measures in the financial sector on Wednesday, including the removal of foreign ownership caps of banks, as Beijing tries to paint itself as an open economy and a key backer of free trade and ... ( read original story ...)
CORRECTED-China, HK stocks climb as Beijing pledges to further open financial sector
SHANGHAI, April 11 (Reuters) - China and Hong Kong stocks rose on Wednesday, led by financial firms, as the market welcomed Beijing’s pledge to further open the country’s financial sector to foreign investors. On the mainland, the CSI300 index advanced ... ( read original story ...)
China vows wider access to financial markets amid trade row
Foreign ownership restrictions in Chinese banks and financial asset management firms also will be ... Commission said the allowable daily two-way trading volume between Hong Kong and mainland China's two exchanges would each be increased fourfold to ... ( read original story ...)
Hong Kong’s currency to remain pegged to the US dollar in the near future, IMF’s Lagarde says
so there were no Hong Kong dollars left to finance short sellers. Read: Lessons from 1997 show how it’s scary being a bear on the Hong Kong dollar The currency peg exposes Hong Kong’s economy to the ups and downs of the US economic cycle as the US Fed ... ( read original story ...)
China boosts mainland-Hong Kong stock connect quotas
Paul Chan, Hong Kong’s financial secretary, said: “This will facilitate the healthy development of stock connect, and facilitate international investors’ access to the mainland’s stock markets and mainland investors’ access to Hong Kong’s stock ... ( read original story ...)
Uber Hong Kong boss Kenneth She Chun-chi says it’s business as usual despite regional upheaval
Uber’s Hong Kong team says it is “working really hard” to prove to US senior management that the business has a future in the city, following the ride-hailing service’s withdrawal in Southeast Asia. Kenneth She Chun-chi, general manager of the ... ( read original story ...)
Hong Kong stocks rise as President Xi commits to more ‘open’ China in speech at Boao
Hong Kong’s stock market climbed on Tuesday morning, as President Xi Jinping committed to further opening China’s economy in a keynote speech in Boao. Mainland markets were mixed. The benchmark Hang Seng Index and the Hang Seng China Enterprises Index ... ( read original story ...)
HK dollar eases to new 33-year low, nears weaker end of band
The gap between the two has widened since the 2008 financial crisis, as the U.S. central bank has started raising interest rates. However, the Hong Kong money market remains awash with liquidity thanks to equity market inflows and remnants of money ... ( read original story ...)
Kristal.AI raises $1.85 million in a round led by IDG Ventures
Investors Shailesh Rao, a senior advisor at TPG Global and McKinsey & Co, and Newquest Capital founding ... The start-up is headquartered in Singapore with offices in Hong Kong, Mumbai and Bengaluru. “In the past two years, we have brought a simple ... ( read original story ...)
IDG Ventures India Led $1.87 Mn Funding In Financial Advisory Startup Kristal.AI
Angel investors including Shailesh Rao (Senior Advisor -TPG, McKinsey) and Amit Gupta (Founding Partner, Newquest Capital) also participated in this funding round. Kristal.AI currently focuses on investors (clients) in the Singapore, Hong Kong and India ... ( read original story ...)
Asia News: Hong Kong civic coalition warns UN on eroding freedoms
Hong Kong (AFP) - More than 40 civil groups in Hong Kong appealed to the United Nations Tuesday demanding action to protect rapidly disappearing freedoms as Beijing increasingly tightens its grip on the freewheeling city. The coalition cited increasing ... ( read original story ...)
Singapore and Hong Kong are winning over start-up accelerators
Start-up accelerators see Asia as a hotbed for technological innovation. Those companies see potential in Singapore and Hong Kong, primarily because of their strong reserves of tech experts. There's a new breed of entrepreneurship programs turning to Asia ... ( read original story ...)
How Alibaba-Backed Startup Qupital Is Helping Hong Kong SMEs Fix Their Cash Flow
Forbes.com - 07:02 AM GMT April 10, 2018 Pinduoduo: The $1.5B Startup Challenging E-Commerce Giant Alibaba In China's Towns And Villages Forbes.com - 06:21 AM GMT April 06, 2018 Inside Hong Kong's coolest neighbourhood Evening Standard - 16:32 PM ... ( read original story ...)
New 3-year contract for Leung Ka-wi as head of Hong Kong’s public broadcaster RTHK
The veteran journalist, 65, whose long career included stints as news chief at both Television Broadcasts and Asia Television (ATV), was first appointed as director of broadcasting in August 2015. Leung, who leads an organisation with about 730 staff and a ... ( read original story ...)