Hong Kong stocks rose to a five-week high as Central Huijin Investment increased its stakes in the nation’s Big Four state-owned banks for the first time since 2015.
Hong Kong’s affluent become millionaires at 33 on average
According to the survey, 61% of respondents bank on savings from their salary to reach their first HK$1mil, rather than on income from other sources, such as investment profits. But, when it comes to ...
Singapore is winning out over Hong Kong, ANZ bank CEO says
ANZ Group Holdings chief executive officer Shayne Elliott said his customers moved more of their business to Singapore from Hong Kong in the past few years as the smaller Asia-Pacific trading hub ...
Decline of Millionaires in Hong Kong: A Shift in Wealth and Investment Strategies
The veil of wealth in Hong Kong is shifting, with the city witnessing a three-year consecutive decline in its millionaire population, according to Citibank’s ‘Hong Kong Millionaire Survey Report ...
Indonesia’s J&T Global Express aims to launch $500m Hong Kong IPO on Monday – sources
Indonesian courier services startup J&T Global Express is aiming to launch its Hong Kong initial public offering (IPO) on Monday to raise $500 million, two sources with direct knowledge of the matter ...
Hong Kong multimillionaire population drops as liquid assets and net worth decline in 2023: Citibank
Median liquid assets of people with more than HK$10 million (US$1.28 million) in wealth dropped by HK$1 million to HK$4.5 million this year, survey says Although their population fell slightly, ...
Hong Kong Home Prices May Drop 10%, Driving Negative-Equity Mortgages To 19-Year High
Negative-equity mortgages may surge beyond 5% of home loans in 2024, analysts Francis Chan and Patrick Wong wrote in a note.
Hong Kong’s affluent become millionaires by the age of 33 on average, wary about property as store of wealth, HSBC survey finds
Hong Kong’s affluent become millionaires by the time they turn 33 on average, according to an annual survey by HSBC, which also found that respondents were confident about reaching the next milestone ...
Hong Kong stocks log longest winning run in 3 months on China recovery outlook, bets on US rate pause
Stocks advance for a fifth day for the longest winning streak in three months. Optimism about China’s economic recovery and bets on another Fed rate pause are fanning appetite for riskier assets.
Hong Kong Shares Poised To Open In The Green
The Hong Kong stock market has moved higher in four straight sessions, accelerating almost 480 points or 4 percent along the way. The ...
Hong Kong gov’t may face larger deficit than expected, as finance chief cites weak land sales
The Hong Kong government may face a larger deficit than expected this year, finance minister Paul Chan has said, citing poor land sales amid a struggling property market. Speaking on a Commercial ...
Hong Kong won’t deter financial fraud by blacklisting bank accounts
As businesses rush to tackle this growing problem, the police force, Monetary Authority and the Hong Kong Association of Banks are reportedly working together to stay ahead of fraudsters. They plan to ...
Hong Kong eyes stronger ties with Thailand to boost its economic growth in Southeast Asia
Thailand and Hong Kong have agreed to promote more business exchanges as Hong Kong seeks more economic opportunities in Southeast Asia.
Hong Kong’s affluent become millionaires by the age of 33 on average, wary about property as store of wealth, survey finds
Hong Kong’s affluent become millionaires by the time they turn 33 on average, according to an annual survey by HSBC, which also found that respondents were confident about reaching the next milestone ...