While Asia's equity capital markets start the year slowly, envious eyes are being cast across the globe, as New York prepares for a multibillion-dollar IPO from Snap. Based on its initial fundraising target of $3 billion, Snap promises to be the biggest US ... ( read original story ...)
Ashurst strengthens Greater China practice
PH specialises in Hong Kong listing work, including Hong Kong IPOs, secondary offerings and post-listing compliance, with a particular focus on Chinese state-owned enterprises. PH has over 20 years of experience, a market-leading reputation, and is ranked ... ( read original story ...)
I ‘failed’ in fintech, but now I’m working weekends to get back in
My first taste of Hong Kong fintech ended in failure and forced me back to a big bank. But now I’m spending all my spare time trying to return to fintech. http://news.efinancialcareers.com/hk-en/270238/tech-trends-asian-finance-2017/ Medhy Souidi had ... ( read original story ...)
Does Hong Kong Marathon’s surge in popularity since 1997 reflect city’s changing attitude to sport?
That was 1996 and to hear Hung recount the tale in the same office on the 32nd floor of the bank’s HQ in Central, sport was something of a mystery to the people of Hong Kong “with the exception of horse racing and mahjong”. A lot has changed since ... ( read original story ...)
Businessmen jumpy after Chinese tycoon's disappearance from HK
A report on China's private wealth market, conducted jointly by China Merchants Bank and Bain & Company in mid 2015, found 71 percent of about 2,800 Chinese high-net-worth individuals chose Hong Kong as their favourite offshore investment destination. ( read original story ...)
In Hong Kong, the world’s priciest home market, attempts to rein in prices are backfiring
A gauge of Hong Kong developers’ stocks has risen 12.3 per cent this ... said Raymond Yeung, Australia & New Zealand Banking Group Ltd.’s chief economist for greater China. Transactions have fallen by more than half since the new tax, from 6,739 ... ( read original story ...)
The Hong Kong banker who gave up his career to facilitate release of abductees in Afghanistan and help victims of Syrian civil war
When I was leaving Kenya he said, “Jason, one day I will save enough money to come to Hong Kong to visit you.” I knew it was a mission impossible for him. It had me thinking, “How can the world be like this?” Working in an investment bank can make ... ( read original story ...
Bitcoin trading shrivels under Chinese government’s glare
The People’s Bank of China launched checks into the three exchanges ... in China would likely normalize to around those seen on exchanges elsewhere, like the Hong Kong-based Bitifinex and U.S.-based Coinbase. ( read original story ...)
HSBC calls for revamp of tax regime
Compared to 15 years ago, there are more jurisdictions that have a lower tax rate than Hong Kong while Singapore’s effective tax rate is at a similar level with the SAR,” said HSBC Asia Pacific adviser George Leung Siu-kay. He said he expected the ... ( read original story ...)
Li & Fung out, Geely in as HSI reshuffles Hang Seng Index
Separately, Tsingtao Brewery – the first H share listed in Hong Kong in July 1993 – will be removed from the H-share index, officially called the Hang Seng China Enterprises Index. Its constituent position will be replaced by Postal Savings Bank of ... ( read original story ...)
China H Shares Rally to 14-Month High as Autos, Financials Climb
Chinese stocks in Hong Kong climbed to a 14-month high as investors honed in on some of the world’s cheapest equities. Automakers and financial shares led gains. The Hang Seng China Enterprises Index rose 1.2 percent, breaking through the psychological ... ( read original story ...)
How to Enjoy Hong Kong in Winter
Resort destinations such as Maldives and Boracay or relatively mild winter climate countries such as Hong Kong and Macau are most favorite locations among them. Especially, Hong Kong is adored by many due to the pleasant temperatures during the winter ... ( read original story ...)
Hong Kong, mainland China stocks close higher on rallies in financial, property sectors after early losses
Hong Kong and mainland Chinese stocks closed higher on Wednesday amid strong rallies in the financial and property sectors despite news that China’s foreign exchange reserves fell to a nearly six-year low, which had hit market sentiment during morning ... ( read original story ...)
What AEOI means for banking customers in Hong Kong
With the arrival of the new year, don’t be surprised if your bank asks for information about yourself and your accounts that you didn’t have to provide before. These questions signal an important development as banks in Hong Kong and around the world ... ( read original story ...)