BEIJING (Reuters) - Smartphone and connected device maker Xiaomi [IPO-XMGP.HK] filed for a Hong Kong initial public offering on Thursday, in what is expected to be the largest listing by a Chinese tech company in almost four years. The listing could value ... ( read original story ...)
These East Asian cities are leading the way for entrepreneurs — you can start up for under $3,000
When it comes to start-ups, Silicon Valley has long reigned supreme, staking claim to international success stories from Apple to Facebook. But the landscape is shifting. New start-up scenes are popping up across the globe as cities seek to take a piece of ... ( read original story ...)
What Could End Hong Kong’s Property Boom? Here Are Some Triggers
Hong Kong property companies such as Sun Hung Kai Properties Ltd. and CK Asset Holdings Ltd. are bracing for the first increase in the city’s prime rate in more than a decade. A higher prime rate, which sets the upper limits on mortgages, could damp ... ( read original story ...)
Why remittance startup Bitspark abandoned bitcoin
Harrap told the Hong Kong Economic Journal in an interview that the company ... He admits that Bitspark is trying to snatch business from these remittance giants. So far the startup has recorded more than 5,000 users, including about 12 money transfer ... ( read original story ...)
Hong Kong shares fall ahead of Sino-U.S. trade talks, Fed policy statement
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 ...)