Hong Kong's notoriously expensive housing makes owning an affordable home a pipe dream for many residents. A local architect has proposed a novel idea to help alleviate that problem: building stylish micro-apartments inside giant concrete drainage pipes. ( read original story ...)
Hong Kong stocks snap 4-day rising streak on trade war fears
Hong Kong stocks fell on Wednesday ... Huatai Securities Co Ltd which fell 2.0 per cent and Postal Savings Bank of China Co Ltd down by 1.8 per cent. About 1.76 billion Hang Seng index shares were traded, roughly 68.9 per cent of the market's 30-day ... ( read original story ...)
Hong Kong stocks end higher for 4th straight day before key US, China economic data
The Hang Seng Index fluctuated within a narrow range of 248 points ... per cent and 0.5 per cent respectively to 1,895.31 and 1,872.68. Agricultural Bank of China’s Hong Kong-listed shares surged 5.4 per cent to close at HK$4.71. Its Shanghai-traded ... ( read original story ...)
HKMC says its mortgage business volume rose 30pc in 2017, indicating that it is actively helping first-time buyers
The Hong Kong Mortgage Corporation reported its mortgage business volume rose 30 per cent last year to HK$32.3 billion, indicating that homebuyers were relying on the government-owned body for financial support as local property prices soar into the ... ( read original story ...)
Hong Kong regulator issues notice for action against 8 IPO sponsors: official
HONG KONG (Reuters) - Hong Kong’s securities regulator is pursuing disciplinary action against eight firms for alleged misconduct in their roles sponsoring initial public offerings (IPOs) in the Asian financial hub, a senior official said on Wednesday. ( read original story ...)
HK bolstering financial prowess
Financial Secretary Paul Chan: Hong Kong has also put in place a comprehensive anti-money laundering and counter-terrorist financing regime. It's built on a robust legal framework, effective law enforcement, rigorous preventive measures, capacity-building ... ( read original story ...)
Hong Kong airline Cathay Pacific sees annual loss, outlook upbeat
Hong Kong flag carrier Cathay Pacific on Wednesday booked the first ... The firm's report was its worst since 2008 during the global financial crisis, as lower-cost Chinese airlines ate into market share while it took a major hit from fuel costs. ( read original story ...)
IOI Prop scraps agreement with Hongkong Land
IOI Properties Group Bhd (IOI Prop) has terminated its agreement with Hongkong Land International Holdings Ltd ... This is because the group has sufficient in-depth expertise, financial capabilities and track record of other completed projects in Singapore ... ( read original story ...)
Hong Kong Bourse Ripe For Profit Taking
BOC Hong Kong added 0.38 percent and Henderson Land was unchanged. The lead from Wall Street is soft as stocks failed to hold a higher open Tuesday before sliding firmly into negative territory. The Dow slid 171.58 points or 0.68 percent to 25,007.03 ... ( read original story ...)
UBS sees ‘business as normal’ as it fights Hong Kong ban on IPO sponsorships
HONG KONG: UBS has told staff that it is “business as normal,” after the Swiss bank revealed on Friday it is fighting an 18-month suspension in Hong Kong from leading initial public offerings (IPOs). In an internal memo sent by Andrea Orcel and David ... ( read original story ...)
Reuters – UBS suspended by Hong Kong as IPO sponsor, will appeal
Reuters reports that The Hong Kong Securities and Futures Commission (SFC) had been investigating UBS’s role as a sponsor — or lead underwriter — of some IPOs listed on the Hong Kong Stock Exchange, it said. “In March 2018, the SFC issued a ... ( read original story ...)
Hong Kong tycoon linked to offshore tax havens flipping $18M Vancouver house through shell company
A Hong Kong property tycoon known as the “King of Shell Companies,” whose name appears in the Offshore Leaks database of tax haven clients, is trying to sell a house in Vancouver Westside for $18.88 million after buying it just three months ago for $14 ... ( read original story ...)
Wealth management in an era of robots, regulation, and new money
I’m delighted to be joined on the line by Joe Ngai, who is a partner in McKinsey’s Hong Kong office. Joe is the managing partner of McKinsey’s offices in Greater China overall. Joe, thanks very much for taking the time to speak. Joe Ngai: Of course. ( read original story ...)
Bitcoin start-ups in Asia take aim at remittances market
Used as a transfer mechanism rather than a currency, bitcoin circumvents banks’ transaction fees. Start-ups such as Bitspark in Hong Kong, and Bloom, Payphil, coins.ph and Satoshi Citadel Industries’ (SCI) remittance unit Rebit in Philippines ... ( read original story ...)