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The Shanghai Financial Court action is the latest judicial intervention as creditors seek to force distressed Chinese developers to pay their debts. Image: Shutterstock
Business

Chinese developer SRE ordered to sell stake in Shanghai venture to repay banks

The action comes after units of SRE failed to pay 4.45 billion yuan (US$627 million) in debts, the company said in a Hong Kong filing.

The action comes after units of SRE failed to pay 4.45 billion yuan (US$627 million) in debts, the company said in a Hong Kong filing

videocam

Hong Kong banks cut prime rates by quarter point; first cuts since 2019

Hong Kong officials warn borrowers to stay vigilant amid high rates

Business

Hong Kong banks trim prime rates halfway after Fed’s bold slash

For a typical HK$5 million, 30-year loan priced at prime minus 1.75 per cent, a quarter-point cut in prime rates will save mortgage borrowers HK$720 per month.

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Pedestrians in Hong Kong’s Sham Shui Po neighbourhood on 11 August 2024. Photo: Dickson Lee
Pedestrians in Hong Kong’s Sham Shui Po neighbourhood on 11 August 2024. Photo: Dickson Lee
Banking & Finance

Asia-Pacific family offices show ‘bullishness’ in equities, bonds: Citigroup

Some 68 per cent of respondents in Asia-Pacific raised their allocations to stocks, highest among all regions.

China Business

Chinese stocks edge up slightly; investors await Fed rate decision

Chinese stocks rebound from their lowest levels in more than five years as investors await a rate decision from the US Federal Reserve.

Banking & Finance

DBS posts 300% surge in semi-liquid fund sales in Greater China

Chinese private-banking clients have shifted away from equity-focused investments and increased their exposure to the US and Europe, according to DBS.

DBS automated teller machines in Singapore. Photo: Reuters
Banking & Finance

Saudi Arabia approves first ETFs tracking Hong Kong-listed equities

Saudi Arabia’s CMA said it approved AlBilad Investment Company’s request to offer “Albilad CSOP MSCI Hong Kong China Equity ETF” units on the Saudi Stock Exchange.

An undated photograph of the Saudi capital city of Riyadh. Photo: Shutterstock Images
An undated photograph of the Saudi capital city of Riyadh. Photo: Shutterstock Images
Banking & Finance

Hong Kong IPO market’s ‘very positive momentum’ set to build, HKEX CEO says

After Midea’s US$3.98 billion listing on Tuesday, ‘we’re seeing a lot of very good signs in the IPO market’, says Bonnie Chan.

Markets

Hong Kong stocks rise, developers up on expected Fed move; Midea surges

Hong Kong stocks jumped as local developers rallied ahead of an expected Fed rate cut, while appliance maker Midea surged on its debut.

Banking & Finance

Midea’s Hong Kong IPO sizzles as shares soar in blockbuster sale

The Foshan-based company raised HK$31.01 billion last week, after offering its stock at HK$54.80 a share, at the top end of an expected price range.

(L to R) HKEX CEO Bonnie Chan, Midea’s CFO Zhong Zheng, Chairman and CEO Fang Hongbo, and HKEX Chairman Carlson Tong, during Midea Group’s listing ceremony at HKEX on 17 September 2024. Photo: Jonathan Wong
Banking & Finance

Hong Kong, Macau to link bond markets to foster debt finance growth

The Hong Kong Monetary Authority (HKMA) will link its Central Moneymarkets Unit (CMU) to Macau Central Securities Depository and Clearing.

Tourists at the Ruins of St. Paul, one of the iconic tourist attractions in Macau, on 3 July 2024. Photo: Elson Li.
Tourists at the Ruins of St. Paul, one of the iconic tourist attractions in Macau, on 3 July 2024. Photo: Elson Li.
Banking & Finance

PwC invests in ‘high quality’ business to survive in China after fine

PwC Zhong Tian was hit with a six-month suspension and a fine of 441 million yuan on Friday over the firm’s audit of failed property developer China Evergrande Group.

China Business

Which presidential nominee is better for China’s stocks: Trump or Harris?

No matter who wins, geopolitical tensions will continue to haunt Chinese stocks for another four years, according to Daiwa Securities Group.

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Markets

Hong Kong stocks climb as weak China data boosts hopes for stimulus

Hong Kong stocks reverse earlier losses as weak China data spurs hope for more stimulus from Beijing.

4
A woman stood outside Hong Kong’s stock exchange. Photo: Reuters
China Business

Can China’s mortgage rate cuts revive its faltering property market?

Worried about job cuts and a lack of high-yield investment options, homeowners are rushing to repay home loans and mortgages in advance.

5
Residential buildings in Shanghai, China. Photo: Bloomberg
Residential buildings in Shanghai, China. Photo: Bloomberg
Banking & Finance

Hong Kong campaign to woo family offices gathers steam, summit attendance shows

Summit draws 150 attendees as city continues effort to build talent ecosystem and cement status as Asia’s family-office hub.

Banking & Finance

HKIC makes strategic investments in biotech, clean energy and health

The three start-ups have opened offices in Hong Kong to leverage the city’s talent and research prowess.

Markets

Hong Kong stocks rise on speculation about China mortgage-rate cuts

Hong Kong stocks jump for a second day as mainland developers rally on speculation about mortgage-rate cuts.

Exchange Square in Central. Photo: Bloomberg
Business

Southeast Asia, Middle East eye deeper business ties with Hong Kong

Belt and Road Summit: a deep talent pool and financial and legal acumen make the city an ideal partner for development in the two regions.

John Lee, Hong Kong’s chief executive, appears during the Belt and Road Summit in Hong Kong on September 11, 2024. Photo: Bloomberg
John Lee, Hong Kong’s chief executive, appears during the Belt and Road Summit in Hong Kong on September 11, 2024. Photo: Bloomberg
Banking & Finance

Midea’s jumbo Hong Kong IPO priced at top of range to raise US$3.46 billion

The listing has been priced at HK$54.80 amid strong demand from global and local investors, setting the stage for ‘more mega deals’.

Tech War

US-sanctioned Chinese AI chip champion Biren plans IPO

The Shanghai-based unicorn, seen as a potential Nvidia competitor on the mainland, has begun its IPO tutoring process.

China Business

Chinese companies report collective profit decline for second quarter as darkest season looms

Mainland-listed companies reported a collective decline in profit for the second quarter, due in part to a weak domestic economy.

Across from Shanghai’s financial district. Photo: Bloomberg
OPINION
Weijian Shan

Opinion | Why it’s time Hong Kong joined China’s currency zone

Weijian Shan
Christopher Tang

Opinion | Despite setbacks, Hong Kong is still the best place to do business

Christopher Tang
Anthony Rowley

Macroscope | Bond boom a sign of reality catching up with bubbly stock markets

Anthony Rowley
4
Amar Gill,Lake Wang

Opinion | Time for Hong Kong’s corporate boards to get in line with global norms

Amar Gill
Lake Wang
Patrick Lau

Opinion | Hong Kong should be on the front lines of climate finance

Patrick Lau
Richard Harris

The View | Global stock sell-off in August carries a warning we should heed

Richard Harris
4
MULTIMEDIA
Video

Renaissance shares crash after Chinese billionaire banker goes missing

01:13
Video

Money Machine Part 1: When Mao’s former barefoot doctor helped a US fund buy a Chinese state bank

11:17
Video

Money Machine Part 2: When Mao’s former barefoot doctor helped a US fund buy a Chinese state bank

13:23
Video

HKMA invites financial heavyweights to its 30th birthday bash

09:07
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