The last time the HKMA bought Hong Kong dollars was in 2005, shortly before the new band was implemented to curb funds flowing into the Asian financial hub to bet on a stronger Chinese yuan. But inflows continued after the financial crisis, encouraged by ... ( read original story ...)
Chinese online medical platform Ping An Healthcare and Technology to raise US$1b from Hong Kong IPO
Ping An Healthcare and Technology, China’s largest health care and online medical platform, is to raise US$1 billion from an initial public offering in Hong Kong and will be traded in early May, after it got a verbal go-ahead by the city’s bourse ... ( read original story ...)
Hong Kong Monetary Authority holds fire as currency slumps to red line for the first time
It stood at 7.8499 at 5:30pm. Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA), said it will not necessarily step in to prop up the currency. The city’s dollar, pegged at 7.8 per US dollar since October 1983, with the trading ... ( read original story ...)
Hong Kong in the running to host three Kazakh state IPOs
Samruk-Kazyna, Kazakhstan’s sovereign wealth fund, is planning initial public offerings (IPOs) for three of its major assets this year, and Hong Kong is being viewed as a strong choice as the potential venue. Nurlan Rakhmetov, its managing director for ... ( read original story ...)
Hong Kong protesters blast ‘monster’ Duterte but president is nowhere in sight
Balladares also said she was not pleased with the news about the deployment of Filipino domestic ... Some 203,600 domestic workers from the Philippines are employed in Hong Kong. Balladares also said workers in Hong Kong were against the recall of the ... ( read original story ...)
Hong Kong’s slumping dollar touches monetary authority’s red line for the first time
Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA), said it will not necessarily step in to prop up the currency. The city’s dollar, pegged at 7.8 per US dollar since October 1983 with a trading band of 7.75 to 7.85 introduced ... ( read original story ...)
Hong Kong protesters pushed to sidelines as Duterte prepares to meet local Filipino community
Filipino migrant workers and members of local human rights groups will take to Hong Kong’s streets on Thursday to protest the three-day visit of Philippine President Rodrigo Duterte. Duterte is also expected to receive a petition from student activists ... ( read original story ...)
Journalist group slams ‘rude’ men who kissed TV reporter on air at Hong Kong Rugby Sevens
The head of a Hong Kong journalists’ group has slammed the “rude” behaviour of two male spectators who kissed a female TV news reporter without consent during a live telecast of the Hong Kong Sevens rugby tournament on Sunday. This came in addition t ... ( read original story ...)
Hong Kong Dollar Touches Key Level for First Time Since 2005
Hong Kong’s dollar fell to the weak end of its permitted band for the first time since the range was imposed in 2005, a warning sign for a city where easy money has stoked a property boom and underpinned the stock market’s record rally. The spot rate ... ( read original story ...)
Hong Kong man arrested for carrying air gun on MTR and stealing police property on April Fool’s Day
A 21-year-old man accused of carrying an air gun on a Hong Kong MTR train and stealing a police book on April Fool’s Day was arrested on Monday. The Hongkonger, who is unemployed, was detained at about 6pm after police raided his home in Sheung Shui. ( read original story ...)
HK dollar eases to new 33-year low, hits 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. Making matters tricky for Hong Kong policy makers, local money market remains awash with liquidity thanks to equity market ... ( read original story ...)
Banks in Singapore and Hong Kong “blacklist” contractors who quit after a few days
Contracting jobs are booming in Singapore and Hong Kong banking, but think carefully before you take one. Here’s what to weigh up. https://news.efinancialcareers.com/sg-en/241344/junior-singapore-finance-jobs-with-10k-monthly-salaries/ Contract jobs in ... ( read original story ...)
Financial Secretary Paul Chan and wife vow to continue defamation fight after Hong Kong top court orders retrial
Financial Secretary Paul Chan Mo-po and his wife are to face a retrial in a long-running defamation case brought against them by two students and their father for accusing the youngsters of cheating in a test, Hong Kong’s top court ruled on Tuesday. ( read original story ...)
China pledges to open up financial markets amid threat of US trade war
For the Hong Kong-Shanghai and the Hong Kong-Shenzhen stock links ... China wants to embrace the world, not take it over, Xi says at Boao Forum for Asia I would say with financial and service industries opening up, the US in the future would have more ... ( read original story ...)