May 2 (Reuters) - Hong Kong stocks fell on Wednesday ... The top gainer on Hang Seng was Sunny Optical Technology Group Co Ltd up 4.92 percent, while the biggest loser was Bank of Communications Co Ltd which was down 2.32 percent. ( read original story ...)
Banks Seeking Hong Kong Deposits Push Rates as High as 3%
“This trend will continue as rates are only going up,” Lawrence Kung, head of the deposits department at Wing Lung Bank Ltd. in Hong Kong, said in a phone interview. “Banks are preparing themselves in terms of funding before the rate-hike cycle. ( read original story ...)
Filipino tycoon says Hong Kong missing out on business opportunities in her country
A prominent Filipino businesswoman has said Hong Kong investors have overlooked her country’s potential, urging them to forget any negative perceptions they have about the country and invest. Teresita Sy, daughter of the country’s richest man, Henry Sy ... ( read original story ...)
Belt and road trade advantages in Indonesia? Hong Kong business leaders speak of challenges
Infrastructure and professional services have long been hailed by Hong Kong officials as the city’s advantage in Southeast Asia under Beijing’s “Belt and Road Initiative”, yet business leaders with projects in Indonesia tell a different story. ( read original story ...)
Hong Kong Report Suggests Cryptocurrency Is Largely Left Out Of City’s Organized Crime
The Hong Kong Financial Services and Treasury (FSTB) has released its Money Laundering and Terrorist Financing Risk Assessment Report. The report comes amid an increasingly tense debate on whether the city is adequately combatting financial crime. ( read original story ...)
Start-ups listed on Beijing’s ‘new third board’ eye Hong Kong IPOs
A number of Chinese start-ups trading on National Equities Exchange and Quotations, or Beijing’s “new third board”, are eyeing flotations in Hong Kong after the city launched new listing rules this week, according to lawyers and bankers. “Some of ... ( read original story ...)
Xiaomi’s blockbuster IPO risks leaving Hong Kong’s financial system with a cash crunch
Hosting what’s shaping up to be the world’s biggest initial public offering of 2018 may be a double-edged sword for Hong Kong. Chinese smartphone maker Xiaomi is preparing a share sale that will raise at least US$10 billion, people familiar with the ... ( read original story ...)
Hong Kong stocks close out April with 2.4pc gain, but analysts warn higher volatility likely in May
Hong Kong stocks closed sharply higher on Monday ... than-expected capital outflows and US-China trade uncertainty could hurt tech stocks. The Hang Seng Index advanced 1.7 per cent, or 527.78 points to close at 30,808.45. For April, the index rose 2.4 ... ( read original story ...)
Hong Kong stocks rise as financials climb
Hong Kong’s main Hang Seng index rose to a more than one-week high by lunch ... followed by China Merchants Bank Co Ltd, gaining 5.5 per cent, and Anhui Conch Cement Co Ltd up 4.6 per cent. The three biggest H-shares percentage decliners were BYD Co ... ( read original story ...)
Banks Scrambling for Hong Kong Deposits Push Rates as High as 3%
“This trend will continue as rates are only going up,” Lawrence Kung, head of the deposits department at Wing Lung Bank Ltd. in Hong Kong, said in a phone interview. “Banks are preparing themselves in terms of funding before the rate-hike cycle. ( read original story ...)
Hong Kong’s Thriving Broker Bazaar Hit After Regulators Step In
Chinese firms splashed out on purchases of Hong Kong brokerages in recent years to get a foothold in the former British colony. That wave is ebbing after regulators tightened scrutiny of the practice. Buying Hong Kong-licensed asset managers, brokers or ... ( read original story ...)
Investors Cool a Bit on Big Hong Kong IPO
Tech stocks’ global struggles and U.S.-China trade tensions may have cooled enthusiasm for what some said could have been one of Hong Kong’s hottest-ever initial public offerings: Ping An Insurance Co. 601318 -3.56% of China Ltd.’s sale of a piece of ... ( read original story ...)
Hong Kong’s top court denies 31 major banks and law firms’ bid to support lesbian expat ‘QT’ in LGBT rights battle
The 15 international financial institutions are: ABN AMRO Bank; AIG Insurance Hong Kong; Australia and New Zealand Banking Group; The Bank of New York Mellon; BlackRock Asset Management North Asia; Credit Suisse; Goldman Sachs; Morgan Stanley; Nomura ... ( read original story ...)
Hong Kong Gov’t Report Says Bitcoin Poses ‘Medium-Low’ Risk In Financial Crime
The Hong Kong Financial Services and Treasury (FSTB) released a report yesterday, April 30, on the status of money laundering (ML) and terrorism financing (TF). The report concluded that virtual currencies (VC), like Bitcoin (BTC), are not particularly ... ( read original story ...)