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Alun John
Alun John

Hong Kong and mainland banking systems vulnerable to crisis

A view of residential buildings in the Sham Shui Po district in Kowloon. BIS said in a report that Hong Kong’s banking sector was vulnerable to a crisis because of climbing property prices. Photo: Roy Issa

Global elite head for the exits after February’s harsh asset shakeout

Peter Charrington global head of Citi Private Bank, says clients have recently ‘begun locking in profits or hedging their positions’. Photo: Roy Issa

HK dollar plummets to weakest level in trading band in 33 years

Fund outflows from Hong Kong brought on downward pressure on the Hong Kong dollar in the linked exchange rate system. Photo: Bloomberg

Why Hong Kong’s banks are targeting growth again

The HSBC and Standard Chartered buildings in Hong Kong, the largest market by revenue for both banks. Photo: Bloomberg

Rising interest rates and potential cost savings from technology offer opportunities for increased revenues

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Investment in Hong Kong fintechs more than doubled last year

Accenture analysis also shows value of mainland fintech investment halved, but numbers grew to 146 deals last year, compared with 54 in 2016, to US$2.8 billion

Accenture analysis also shows value of mainland fintech investment halved, but numbers grew to 146 deals last year, compared with 54 in 2016, to US$2.8b

Standard Chartered to resume dividend as profit almost triples

(left to right): Mary Huen, Standard Chartered’s chief executive officer for Hong Kong, Ben Hung, head of greater China north Asia, and group head of retail banking, and Gregg Powell, regional chief financial officer for Greater China and North Asia, face the press with a strong set of results on Tuesday in Hong Kong. Photo: Edward Wong

The lender’s pre-tax profit for 2017 was US$3 billion, just short of the US$3.06 billion forecast by analysts in a Thomson Reuters poll

HSBC expat survey: Hong Kong pips Singapore, Mumbai salaries best

A street market in Quarry Bay. When asked what the city had to offer expats, 36 per cent of Hong Kong respondents cited the quality of food. Photo: Christopher DeWolf

Chinese banks poised for better times thanks to rising interest income

Chinese banks stand to benefit from rising interest income, even as the crackdown on financial leverage continues. Photo: Reuters

Morgan Stanley estimates that yields on new loans will rise by 60 basis points this year and next 

BEA targets mainland consumer lending as profits rebound

A poll of analysts had forecast BEA’s profit at HK$6.7 billion. Photo: Felix Wong

BEA’s profit upswing was related to ‘improvements in its asset quality and the bank’s net interest margin mildly expanding by 5 basis points, said one equity analyst

HSBC shares fall despite reporting 141pc profit rise for 2017

A fisheye view inside HSBC’s offices in Hong Kong. The bank’s stock lower after its announced its full-year results for 2017. Photo: Reuters 

Hang Seng Bank to report 16.5pc increase in net profit on Tuesday

The Hang Seng Bank headquarters in Central. Photo: Nora Tam

Hang Seng Bank, Hong Kong’s third-largest bank by assets, is expected to report strong growth in its 2017 profit on Tuesday thanks to improved interest rate income.

HSBC expected to post 1.5 per cent rise in profit on Tuesday

On Thursday, HSBC closed at HK$83.55 a share, an increase of 23.4 per cent in the previous 12 months. Photo: Reuters

US regulators investigate Credit Suisse for Asian hiring practices

The Swiss bank Credit Suisse on Wednesday said it was being investigated by US regulators over its Asian hiring practices. Photo: Reuters

HSBC becomes first international bank allowed to remit yuan to China

HSBC says it’s the first international bank allowed to remit yuan to China. Photo: Reuters

Hong Kong savers offered better rates but only on yuan deposits

HSBC has increased the interest rate on yuan term deposits for savers in Hong Kong. Photo: Reuters

Why more foreign institutions are buying Chinese stocks

An investor reacts while keeping an eye on stock price movements in Shanghai. Photo: AFP

In January institutions’ aggregate net-buy via stock connect was 35 billion yuan, compared to last year’s monthly average of 15 billion yuan

Update | It’s a hoax: email about Hong Kong-China bitcoin crackdown is bogus

Bitcoin has lost more than half its value since touching a high in December. Photo: Reuters

A bogus invitation has been sent to US media organisations claiming that the Hong Kong Monetary Authority and People’s Bank of China are about to crack down on bitcoin trading in mainland China and Hong Kong.

Hong Kong banks’ anti-money-laundering efforts to face scrutiny

The visit later this year of the global anti-money-laundering policy body the Financial Action Task Force will have local regulators stepping up their oversight of banks

Profit growth at Hong Kong banks nearly doubles in 2017

Hang Seng Bank Head Office located at Des Voeux Road in Central.

HNA unit sells Australian property for US$165 million

HNA Group subsidiary Hong Kong International Investment group said it bought the Sydney office block in January 2012 and has sold it to a new owner as part of its ‘buy and sell investment principle’. Photo: Bloomberg

HNA subsidiary highlights sale of ‘mature investments at opportune time’, unloading Sydney office block it acquired in January 2012

Virtual banks queue for slice of Hong Kong market

More than 10 local and overseas firms have expressed interest in providing virtual banking services in Hong Kong, according to the HKMA. Photo: Reuters

Hong Kong Monetary Authority says it will publish revised guidelines for virtual banks ‘very soon’, adding to expectations licenses will be granted this year

What China must do before it can resolve guaranteed returns issue

The People’s Bank of China said the IMF report was a valuable assessment of the country’s financial system. Photo: Bloomberg

TVB drops buy-back after its restructuring review missed deadline

Oops! A lost report caused China e-Wallet to misstate profit as a loss

China e-Wallet Payment mistakenly reported a net loss for the first half of 2015, instead of HK$281.5 million (US$36 million) profit when a crucial document was lost in transit

China e-Wallet Payment mistakenly reported a net loss for the first half of 2015, instead of HK$281.5 million (US$36 million) profit when a crucial document was lost in transit

HNA unit suspends shares from trading in Shanghai

HNA Infrastructure Investment has become the sixth HNA Group subsidiary to request a share trading halt. Photo: Reuters

How Google searches are driving bitcoin … and vice versa

Strong correlation between online searches for the digital currency and its fluctuations show investors’ ‘fear of missing out’ is driving volatility, say analysts

Fintech giant opens centre of excellence at Hong Kong’s Cyberport

Robert Smith, founder, chairman and CEO of Vista. Photo: Handout

John Kerry: US will join TPP and hopefully Belt and Road Initiative

John Kerry, former US secretary of state, told the UBS Wealth Insights conference in Hong Kong on Friday that the US and China should pursue more strategic partnerships. Photo: EPA

HKMA consults banks on opening up systems to third parties

Of the 23 Hong Kong banks the HKMA has spoken to, one has already launched open APIs for use by external parties. Photo: Joshua Lee

How will Asian firms cope with European rules on transparency?

A market maker works on the trading floor at IG Index in London on January 14, 2016. Photo: REUTERS
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