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Banking & finance
The Blackstone Group headquarters in New York City, pictured on January 18, 2023. Photo: Reuters
Wealth management

Banking & Finance

Blackstone to train Hong Kong wealth managers as private assets gain favour

Alternative asset manager launches Blackstone University programme along with Private Wealth Management Association.

China stock market

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

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Banking & finance

JPMorgan names new Hong Kong CEO; bank eyes ultra-rich market growth

Banking & Finance

Salaries

Hongkongers are in for a letdown in 2025 as big pay raises fade amid slump: study

The average worker can expect a pay hike of 4 per cent next year, while data science and business intelligence professionals could see a raise of up to 8.3 per cent, WTW study says.

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Hong Kong firms have seen their salary budgets shrink as voluntary staff exit remains high in the city, compared with other Asian markets. Photo: Xiaomei Chen
Hong Kong firms have seen their salary budgets shrink as voluntary staff exit remains high in the city, compared with other Asian markets. Photo: Xiaomei Chen

Banking & Finance

Banking & finance

Shenzhen authority sells 7 billion yuan of ‘dim sum’ bonds in Hong Kong

The fourth offering in the last four years, which will fund an array of infrastructure projects, brings total funds raised to US$3 billion.

Banking & Finance

Commodities

Gold, not the US dollar, is the best ‘Trump Trade,’ strategists say

A Bloomberg gauge of the dollar slid more than 10 per cent while the spot price of gold rallied over 50 per cent during Trump’s four years in office.

China Business

China property

Greater Bay Area home sales surged in June after property market rescue package

Demand for new homes in the Greater Bay Area rebounded last month after Beijing’s historic measures to rescue the property sector took effect. However, a meaningful recovery in prices will take time amid economic headwinds, says Cushman & Wakefield.

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Shenzhen saw a strong rebound in transactions last month, having eased home-purchasing restrictions and lowered mortgage rates to lure buyers late in May. Photo: Martin Chan

Banking & Finance

Investing

Sovereign investors look to emerging markets as geopolitical tensions rise: study

Geopolitical tensions have surpassed inflation as the primary concern for sovereign investors, prompting them to invest more in emerging markets and gold, according to the survey by Invesco.

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Tension between the US and China is top of the list of concerns, which may benefit emerging markets such as India and Brazil, as manufacturers could opt for these markets to diversify their supply chains and production bases, according to the survey. Photo: AP
Tension between the US and China is top of the list of concerns, which may benefit emerging markets such as India and Brazil, as manufacturers could opt for these markets to diversify their supply chains and production bases, according to the survey. Photo: AP

Banking & Finance

Hong Kong stock market

Hong Kong paves way for UAE listings, recognising Dubai, Abu Dhabi exchanges

Move to attract more Gulf companies to list comes as government advisory body studies Islamic finance to align the city’s financial infrastructure with the needs of the Middle East.

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Banking & Finance

Banking & finance

Deutsche Bank looks to Asia-Pacific wealth management to drive core growth

The German lender wants the region to contribute at least 15 per cent of its global revenue in the next two to three years as it hires senior bankers for its investment advisory, wealth management and private bank in the region, says CEO.

Markets & Investing

Hong Kong Stock Exchange

Hongkongers happy to let the interest roll in even as outlook improves: survey

Local investors would only consider reallocating from cash and deposits into investment products when interest rates come down to 2.5 per cent, according to a survey by the Hong Kong Investment Funds Association.

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More than half of the respondents prioritised ‘regular collection of interest’ as their top investment goal. Photo: Shutterstock

Companies

China stock market

Explainer | What is ETF Connect? How does it help global investors tap China’s stock market?

China is further opening up its US$8.4 trillion stock market by offering 85 new exchange-traded funds (ETFs) tracking mainland equities through the cross-border trading channel for offshore investors next week.

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ETFs, which are funds that pool together a basket of securities and aim to offer returns that mirror the underlying market, are becoming increasingly popular in Asia. Photo: Shutterstock
ETFs, which are funds that pool together a basket of securities and aim to offer returns that mirror the underlying market, are becoming increasingly popular in Asia. Photo: Shutterstock

Banking & Finance

Banking & finance

Exclusive | Wealth Management Connect revamp sent investment skyrocketing, says ICBC

Improvements to the Wealth Management Connect scheme in February have proven to be a game-changer, with investment via the cross-border trading channel quadrupling between January and April, according to government data and ICBC.

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Markets

China stock market

‘Signs of life’ in China’s markets as reforms boost confidence, forum told

Global investors’ pessimism about China may no longer be well placed, as policies designed to bolster confidence are likely to spell better times ahead for the market, senior financiers told a conference.

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Banking & Finance

Banking & finance

Chinese banks follow belt road to expand loan book amid tight liquidity at home

Chinese banks are heading overseas to extend yuan loans to fund Belt and Road Initiative projects

Photo taken on April 24, 2020 shows trucks loaded with wind turbine blades running on a road along the Sayram Lake basin in northwest China’s Xinjiang Uygur Autonomous Region. These wind turbine blades are used for a 50-megawatt wind farm in Kazakhstan’s Kostanay Region Photo: Xinhua

Business

Banking & finance

Hong Kong to enhance cross-border transfers to support retirees

Hong Kong’s monetary authority plans to sign an agreement with the Chinese central bank to find ways to enhance cross-border remittance services to make it easier for Hongkongers who work or retire on the mainland.

A sign of digital yuan (e-CNY) during the 2021 China International Fair for Trade in Services (CIFTIS) in Beijng on Sept. 5, 2021. Photo: Xinhua
A sign of digital yuan (e-CNY) during the 2021 China International Fair for Trade in Services (CIFTIS) in Beijng on Sept. 5, 2021. Photo: Xinhua

Banking & Finance

IPO

Hong Kong drops down the rankings as IPO proceeds plunge to 2-decade low

The proceeds from new listings are down 35 per cent from a year ago and the lowest since the first half of 2003 when the Sars virus derailed the city’s markets.

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Markets

Bonds

Chinese bond yields at 2-decade low as shaky economy curbs risk appetite

A powerful rally in China’s government bonds that has pushed yields to a two-decade low shows no signs of easing amid persistent worries about the outlook for growth. A sluggish stock market and a long-running property downturn continue to dampen risk appetite.

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Markets

Hong Kong stock market

Hong Kong stocks will resume their rally soon on Beijing support: analysts

Hong Kong stocks could enjoy a better second half to the year following their recent decline, as global interest rates start to come down and more supportive measures in China provide a boost, analysts and money managers say.

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The Hang Seng Index, which surged as much as 31 per cent in May from a January low in a US$1.2 trillion bull run, has been struggling to find direction lately. Photo: Eugene Lee

Banking & Finance

China stock market

China’s market watchdog aims to enhance funds recognition scheme with Hong Kong

Mainland China’s top securities watchdog has proposed amending a funds recognition scheme with Hong Kong in the latest move to boost cross-border trading and capital flow between the two markets.

The Stock Connect scheme was first launched in November of 2014 to link the Shanghai and Hong Kong exchanges. Photo: AFP
The Stock Connect scheme was first launched in November of 2014 to link the Shanghai and Hong Kong exchanges. Photo: AFP

Banking & Finance

Hong Kong Monetary Authority (HKMA)

Hong Kong keeps base rate steady as Fed dials back signal

Hong Kong’s de facto central bank kept its base rate unchanged for the seventh time as traders in the financial markets shift their focus to September in expectation of the first cut in borrowing costs.

Markets & Investing

Mandatory Provident Fund (MPF)

Calling it a day in Hong Kong? Not if you want to plug that US$300,000 gap

The average Hongkonger faces a HK$2.4 million (US$300,000) gap between their post-retirement expenses and the money available in their pension funds, according to a survey by fund house Schroders.

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China Business

Banking & finance

‘China’s London’? Mainland growth assures Hong Kong finance hub status: summit

The city’s status as an international financial centre will be reinforced by yuan internationalisation and China’s economic transformations, according to top finance officials and industry players.

Hong Kong’s status as an international financial centre will be reinforced byChina’s economic transformations, finance officials and industry players said at the summit. Photo: SCMP Pictures
OPINION
Martin Wong Shiu-kei

Concrete Analysis | Do stock prices, unemployment presage a housing market crash?

Martin Wong Shiu-kei
Raymond Chong

Concrete Analysis | Why Hibor-linked mortgage hikes won’t tame Hong Kong’s property market

Raymond Chong
Raymond Chong

Concrete Analysis | How to make the best use of cash rebates on mortgage transfers

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Anthony Rowley

Macroscope | Global markets are sleepwalking toward a cliff’s edge. Here’s why

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David Liao

Eye On Asia | Inclusion of China’s bonds in global index is a game-changing shift

David Liao
Anthony Rowley

Macroscope | Belt and Road may be the nearest help for the world’s ailing economy

Anthony Rowley
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