HONG KONG When Horan Fu decided to buy a 500-sq-foot apartment for HK$7.4 million last year, the biggest draw was the developer's offer of 85 percent financing with an option to defer interest payments for the first three years. "The interest rate could be ... ( read original story ...)
Cash flowing into Hong Kong keeps lending rates down, but for how much longer?
despite the Hong Kong Monetary Authority’s best efforts to make mortgages more expensive and cool Hong Kong’s red hot property market. In recent months, money has been flowing into Hong Kong’s capital markets both southwards from the mainland via the ... ( read original story ...)
Residential Mortgage Survey Results for May 2017
The following is issued on behalf of the Hong Kong Monetary Authority: The Hong Kong Monetary Authority (HKMA) announced the results of the residential mortgage survey for May 2017. The number of mortgage applications in May increased month-on-month by 13 ... ( read original story ...)
Rising Interest Rates Raise Uncertainties for Hong Kong’s Property Market
And some experts are warning that if this happens, it might not be pretty. "Normalization of U.S. interest rates will eventually raise the mortgage burden of Hong Kong borrowers, posing risks" to the city's export-driven economy and housing market ... ( read original story ...)
Hong Kong Faces a Year of Hardship, If History Has Its Say
The Hong Kong Monetary Authority has warded off speculation with measures like a 15% tax for non-residents and another 15% tax on quick sales. It has made mortgage restrictions extremely tight. There's virtually no overborrowing, and if prices do dip ... ( read original story ...)
Razer Files for IPO in Hong Kong to Raise $600 Million
This week Razer has made a preliminary filing for IPO on the Hong Kong Stock Exchange. The company plans to raise $600 million for future growth, particularly in Asia. In addition, the funding is supposed to improve the company’s overall march with ... ( read original story ...)
Restaurant serves traditional Hong Kong desserts to Instagram generation
Lien Yeung is a multimedia reporter and social media editor for CBC News in Vancouver. She has also reported locally ... And their bid to recreate a bygone era in Hong Kong's restaurant history at a new Marpole café has struck a chord with the Instagram ... ( read original story ...)
Hong Kong seizes largest ivory haul in 30 years in container from Malaysia
African rangers detailed harrowing firsthand tales of elephant poaching during a June visit to Hong Kong, an event marked by a tense standoff with traders who say their business is legal. - Reuters ( read original story ...)
Beijing refused to step in during 1998 Hong Kong financial crisis, former city chief reveals
Beijing declined the Hong Kong government’s request to have experts intervene in the city’s financial crisis after the 1997 handover in order not to breach “one country, two systems”, the city’s leader at the time has revealed. Tung Chee-hwa, who ... ( read original story ...)
Hong Kong markets open lower after Wall Street’s overnight retreat
Hong Kong and China stocks opened the morning session lower on Friday after global bond yields rose overnight and US stocks fell sharply yesterday as the sell-off in the technology sector continued. The Hang Seng Index opened down 0.44 per cent ... ( read original story ...)
China aims to stir patriotism with aircraft carrier’s Hong Kong port call
HONG KONG -- China's sole operating aircraft carrier arrived on its first port call to Hong Kong on Friday as part of efforts to stir patriotism amid commemorations of the city's handover from British to Chinese rule 20 years ago. The Liaoning steamed into ... ( read original story ...)
Hong Kong looks to innovation, new markets in battle to retain status as key exhibitions hub
“Why we are better is partly because of ‘One Country Two Systems,’” he said. “People who want to sell to China are comfortable to do business in Hong Kong. Increasingly, Chinese businessmen who want to do business with the rest of world are using ... ( read original story ...)
HK, China stocks weaker as global central bank tightening worries weigh
The Hang Seng, the Hong Kong benchmark that ranked among the best-performing major ... Yang Hai, an analyst at Kaiyuan Securities said tightening by the Federal Reserve and the European Central Bank "would have a negative impact on liquidity situations ... ( read original story ...)
HSBC Said to Approach Peter Hancock as Possible Outside CEO (2)
Hancock and Tucker overlapped for a few months at AIG in 2010, when the insurer spun off Hong Kong-based AIA Group Ltd., which Tucker formerly led. Cambridge Fellow While Hancock would be an outsider, he’s cut from the same cloth as many HSBC lifers. ( read original story ...)