Hong Kong stocks retreat from 10-month highs as disappointing earnings from Li Auto triggered concerns about corporate performances in China.
By allowing local governments and state-owned enterprises to buy unsold land and housing from distressed developers, China is betting a property slump weighing down the economy can be stopped once and for all.
Tesla’s closest rival in China’s EV market reported a major setback in the first quarter, after earnings and deliveries slumped from the preceding three months. Margins eroded amid price discounting.
Consumer and entrepreneur confidence should ‘continue to pick up from this point’ as Beijing’s efforts strengthen the capital markets and enhance Hong Kong’s connector role, say speakers at the Greater China Private Equity Summit.
The financial services secretary, Christopher Hui Ching-yu, has denied media reports that a major stock market reform that would see trading continue as normal during typhoons and torrential rains has been postponed.
Artificial intelligence could improve organisations’ productivity by up to 47 per cent, but 76 per cent of employers say they lack the knowledge to implement AI training, says study from Amazon Web Services.
Scammers have published another fictitious article with the appearance of a South China Morning Post story in a bid to promote an online financial trading tool.
Hong Kong stocks at 10-month highs after China’s property support measures cheer investors.
Hong Kong’s tax breaks and immigration policies to attract tycoons to set up family offices have been quite successful, as they have piqued the interest of many billionaires over the past year, banker says.
The mainland has US$3.9 trillion worth of unsold properties, which makes Beijing’s funding plan account for less than 2 per cent of that excess inventory, a Barclays report said.
Roll-out provides a safe, convenient means of payment for Hongkongers spending in mainland China and mainland users in Hong Kong, HKMA says.
Code will be ‘vital in fostering greater transparency, quality and reliability of ESG information, as well as comparability of products’, says SFC head Julia Leung.
Environmental sustainability is a leading concern for the younger generation, and they have been pushing businesses to take more action on climate change, according to a Deloitte survey.
Bridgewater Associates, the world’s biggest hedge fund slashed its holdings drastically in the first quarter in a move may have been too hasty and caused it to miss out on the recent bull run.
The private bank has increased its headcount, mainly relationship managers and senior bankers, by 15 per cent this year. It sees Hong Kong, Singapore and Dubai as stepping stones to expand its business.
Enhanced mechanism set to boost international investors’ confidence in the onshore bond market and further internationalise the yuan, according to industry experts.
The added value of the financial sector is being calculated via a new set of metrics to increase statistical accuracy and cut down on data manipulation, making GDP figures more resilient to massaging by localities.
Hong Kong’s market regulator has warned the public to beware of a suspected investment scam in which fraudsters claim they are trying to raise the funds to relaunch one of the city’s iconic nightclubs.
Confidence among Chinese consumers was showing ‘early signs of growth’, according to Alibaba chairman Joe Tsai, as the e-commerce giant expects business to be back on the growth path this year.
Asian Investors represented more than 17 per cent of qualified foreign investor activity on the Saudi Exchange’s main market in the first quarter.
The small-business financing platform co-founded by former HKEX chief Charles Li Xiaojia said it is asking staff to invest in the start-ups it backs, confirming an online article that sparked widespread discussion on social media.