Next Digital tumbled 41 per cent, after a 1,200 per cent run-up over the previous two days. Its founder was arrested on Monday on suspected violation of the city’s new national security law, sparking ... ( read original story ...)
Hong Kong’s police credit union shifts billions in assets to mainland banks, citing exposure to US sanctions over national security law
Credit union tells members they have been ‘gradually withdrawing or relocating most of our assets and investments from foreign banks’ since May. ( read original story ...)
Hang Seng Index turns up; tech stocks fall in Hong Kong as traders rotate out of new economy into traditional sectors like banks
Next Digital, which shot up as much as 59 per cent in the morning, tumbled 40 per cent after the break. Its founder was arrested on Monday on suspected violation of the city’s new national security ... ( read original story ...)
Chinese Banks Move to Comply With U.S. Sanctions on Hong Kong
China’s largest state-run banks operating in Hong Kong are taking tentative steps to comply with U.S. sanctions imposed on officials in the city, seeking to safeguard their access to crucial dollar ... ( read original story ...)
Livi, Hong Kong’s latest virtual bank, chooses to compete on ease of service, cash rewards on debut
Livi, the virtual bank co-owned by Bank of China (Hong Kong), hopes to attract customers with cash rewards and the convenience of easy payments at shops through quick-response (QR) codes.The fourth ... ( read original story ...)
Citi, StanChart Eye Accounts of Sanctioned Hong Kong Officials
Citigroup Inc. and Standard Chartered Plc are stepping up scrutiny of banking clients in Hong Kong, aiming to avoid violating U.S. sanctions on officials in the former British colony. ( read original story ...)
China stocks drop most in two weeks on weak global sentiment, bank lending data
Chinese shares fell on Wednesday and were on course for their worst day in over two weeks due to souring global market sentiment and data showing softer growth in bank lending. ** At the midday break, ... ( read original story ...)
Renewed Selling Pressure Expected For Hong Kong Stock Market
The Hong Kong stock market on Tuesday snapped the three-day losing streak in which it had stumbled almost 750 points or 3 percent. The Hang Seng Index now rests just above the 24,890-point plateau ... ( read original story ...)
HSBC reportedly declines to step up scrutiny of clients in Hong Kong
London-based multinational bank HSBC declined to step up scrutiny of its clients in Hong Kong after the US government decided to sanction some high-ranking officials from the Hong Kong Special ... ( read original story ...)
HSBC Hong Kong Beats Ponzi Scheme Suit
A New York federal judge held Monday that a group of California investors who alleged that HSBC Hong Kong aided a $37 million Ponzi scheme lacked jurisdiction to sue the bank and tossed the suit ... ( read original story ...)
Hong Kong Banks May Suspend Accounts Of Officials Sanctioned By US
Some banks in Hong Kong may be preparing to suspend the accounts of local government officials who were slapped with sanctions by the U.S. late last week. Bloomberg reported on Mo ... ( read original story ...)
Chinese Hotpot Ingredients Supplier Guoquan Weighs IPO
Chinese hotpot ingredients supplier Guoquan is weighing an initial public offering as soon as next year, according to people with knowledge of the matter. ( read original story ...)
HSBC: Extremely Cheap
Results in First Half 2020 in line with expectation. Geopolitical events and pandemic puts the bank at a discounted price. ( read original story ...)
Hong Kong Bankers Move to Suspend Accounts After U.S. Sanctions
Banks operating in Hong Kong are stepping up scrutiny of their customers and at least one U.S. bank is moving to suspend accounts to avoid running afoul of U.S. sanctions slapped on city officials, ... ( read original story ...)