Hong Kong remains the world’s most luxurious residential property market for two years running, Christie’s International Real Estate declared this week. The severely unaffordable luxe home market set the highest price per square foot among the 80 ... ( read original story ...)
Hong Kong Press: property prices are a huge threat to China’s financial stability
South China Morning Post, a Hong Kong newspaper, is out today with a report on comments made by a former advisor to the Chinese State Council, Xia Bin, who worked as a senior official at the People's Bank of China. Systemic risks are elusive and spread ... ( read original story ...)
Jailed former Hong Kong minister Patrick Ho bribery trial: prosecutors ‘reject flats as surety, fearing China would interfere’
Former New York federal prosecutor Patrick Sinclair said that although it was uncommon for foreign property to feature in a bail package, prosecutors’ concerns showed a “lack of familiarity” with Hong Kong’s independent judicial system. He said US ... ( read original story ...)
Lenovo Is Dropped From Hong Kong’s Hang Seng Index
The outlook for Lenovo Group Ltd. shareholders is looking grimmer after the stock was dropped from Hong Kong’s benchmark stock gauge. The Beijing-based company will be replaced by CSPC Pharmaceutical Group Ltd., as part of Hang Seng Indexes Co.’s ... ( read original story ...)
Leading Hong Kong independence activist convicted of rioting, sentencing to come
HONG KONG (Reuters) - A Hong Kong court on Friday found a prominent independence activist in the Chinese-ruled territory guilty of rioting, a verdict that could see him put behind bars for up to 12 years. The closely watched case concerned an overnight ... ( read original story ...)
Hong Kong regulators fine Citigroup over mishandled IPO
Pedestrians cross a road in front of a Citigroup Inc. Citibank branch in the central business district of Hong Kong. Hong Kong’s securities regulator on Thursday fined an Asian unit of Citigroup Inc. C, -1.27% 57 million Hong Kong dollars (US$7.26 ... ( read original story ...)
Hong Kong’s Chong Hing Bank eyes ‘Greater Bay Area’, as China moves to open up banking and insurance sectors
Chong Hing Bank has set its eyes on China’s “Greater Bay Area” initiative, and will be hoping for looser regulation over Hong Kong banks doing business there, said Margaret Leung Ko May-yee, the bank’s deputy chairman and managing director. ( read original story ...)
Citigroup fined €6.16m in Hong Kong
Citigroup was fined 57 million Hong Kong dollars (€6.16 million) by Hong Kong’s Securities and Futures Commission (SFC) for the bank’s actions around the listing application of an initial public offering (IPO). The US bank was also reprimanded for ... ( read original story ...)
HKMA intervenes as Hong Kong dollar weakens, buys HK$9.5 billion in U.S. trade
That was in addition to HK$4.789 billion in Hong Kong dollars that the city’s de facto central bank bought earlier during New York trading hours. [nL2N1SN15P] Reuters data shows the latest intervention will reduce the forecast aggregate balance - the sum ... ( read original story ...)
Banking (Amendment) Ordinance 2018 (Commencement) Notice 2018 and Banking (Exposure Limits) Rules gazetted
Hong Kong (HKSAR) - The Banking (Amendment) Ordinance 2018 (Commencement) Notice 2018 and the Banking (Exposure Limits) Rules were gazetted today (May 18) to modernise section 87 of the Banking Ordinance in relation to a prescribed limit on equity ... ( read original story ...)
Hong Kong exchange says ‘needs patience’ to develop mainland China metals business
HONG KONG (Reuters) - The head of Hong Kong Exchanges and Clearing on Thursday said it would take time for the group to develop its metals business on the Chinese mainland. That includes plans such as developing its mainland commodity business in Qianhai ... ( read original story ...)
Community Business announces 2018 Hong Kong LGBT+ Inclusion Awards winners
Community Business, a leading not-for-profit organisation advancing responsible and inclusive business practices in Asia, revealed the winners of its 2018 Hong Kong LGBT+ Inclusion Awards in commemoration of the International Day Against Homophobia ... ( read original story ...)
Hong Kong faces challenge in how to manage its ageing population
The business performance of SEs that did not receive government ... A study on the SE sector in Hong Kong found that privately-owned SEs tend to find it difficult obtaining financial, marketing and human-resource support. There is an urgent need to build ... ( read original story ...)
Hong Kong court finds leader of independence movement guilty of rioting
HONG KONG (Reuters) - A Hong Kong court on Friday found the most prominent leader of the Chinese-ruled territory's independence movement, Edward Leung, guilty on one charge of rioting, a verdict that could see him put behind bars for up to 12 years. ( read original story ...)