Money /

Wealth

Related Topics:
Banking & finance
Property investment
Capital gains tax
Stocks
Money Matters
Net inflows into wealth management products offered in Hong Kong nearly tripled to HK$341 billion in 2023, from a year earlier. Photo: Eugene Lee

Banking & Finance

Hong Kong’s wealth sector thrives as political uncertainty, geopolitics swirl

The Capital Investment Entrant Scheme, launched in March, has brought in more than HK$20 billion from 670 applications, Paul Chan says.

videocam

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

Exclusive | China’s ‘long-term growth story’ draws European family offices to Hong Kong

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.

Skyscrapers stand over Hong Kong’s financial district. Photo: Shutterstock
Skyscrapers stand over Hong Kong’s financial district. Photo: Shutterstock

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

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

Kwang, who will remain as the chair of North Asia, will report to Sjoerd Leenart, the Asia-Pacific CEO.

Banking & Finance

More ultra-rich Chinese borrow against stocks amid liquidity crunch

With Fed easing imminent, ‘clients are once again comfortable using their stocks as collateral for project funding’, HSBC executive says.

A view of Hong Kong’s West Kowloon Cultural District, and Central (foreground), pictured from The Peak on July 17, 2024. Photo: May Tse

Business

China, Hong Kong pools of ultra-rich shrink, Asia’s wealth engine cools: Altrata

The number of ultra-wealthy individuals in China fell for the second straight year in 2023 as a sluggish economy and a deepening real-estate downturn took their toll.

Silhouette of a businessman sitting on a chair and holding a cigar, overlooking the city of Hong Kong. The city recorded a dip in its population of wealthy citizens, according to a report by Altrata. Photo: Shutterstock
Silhouette of a businessman sitting on a chair and holding a cigar, overlooking the city of Hong Kong. The city recorded a dip in its population of wealthy citizens, according to a report by Altrata. Photo: Shutterstock

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

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.

videocam

Banking & Finance

Chinese finance firms ask Hong Kong staff to return part of their bonuses

Some of China’s largest state-backed financial firms are asking employees in Hong Kong to return a portion of their pay, extending President Xi Jinping’s ‘common prosperity’ campaign to the offshore business hub.

videocam
10
The development marks an escalation of austerity efforts at state-owned financial conglomerates, which have so far mainly limited pay for mainland-based employees. Photo: Shutterstock

Companies

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.

videocam
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

China Economy

Affordable housing, mortgage relief named as salves for China’s bruised homebuyers

As China’s homebuyers struggle to stay afloat, analysts and observers have suggested a renegotiation of mortgage rates, as well as an expansion of the country’s affordable housing.

videocam

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.

videocam

Markets

‘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.

videocam
A bull statue in front of the Shenzhen Stock Exchange. Regulators have been strengthening their efforts to lift the market’s performance in recent months. Photo: Bloomberg

Banking & Finance

Exclusive | Hong Kong to host summit in September to promote city as hub for family offices

The summit marks The Hong Kong Academy for Wealth Legacy’s latest effort to promote the city as a hub for wealthy families to pursue investments, establish succession planning and support various charities.

The Hong Kong Academy for Wealth Legacy aims to build the city’s ecosystem for family offices, next-generation wealth owners and wealth-management professionals. Photo: Dickson Lee
The Hong Kong Academy for Wealth Legacy aims to build the city’s ecosystem for family offices, next-generation wealth owners and wealth-management professionals. Photo: Dickson Lee

China Business

LME eyes Hong Kong for warehouse to tap China’s growing metals trade with world

The bourse owned by HKEX is exploring the idea of adding a warehouse in Hong Kong to its global network to meet rising demand for the physical exchange of metals such as aluminium and zinc between mainland China and the rest of the world, according to its CEO.

Business

Rich parents to bequeath US$31 trillion to Gen X, millennials by 2033

Over a quarter of 4.4 million wealthy individuals, each with a net worth of more than US$5 million, could pass their US$88 trillion of assets to their children, Altrata says.

videocam

Markets

Investing in China ‘desirable’ despite risks, says hedge fund giant Ray Dalio

The billionaire founder of the world’s largest hedge fund Bridgewater Associates said investing in China is a good idea despite the risks, because Chinese assets are cheap and can help balance portfolios.

videocam
5
‘Diversification and investment in China is desirable,’ Dalio said in a virtual presentation at the Greenwich Economic Forum in Hong Kong. Photo: Jiaxing Li

Markets & Investing

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.

videocam
There is at least a positive side to the problem for Hongkongers, because it is partly because they have the longest life expectancy worldwide. Photo: Jelly Tse
There is at least a positive side to the problem for Hongkongers, because it is partly because they have the longest life expectancy worldwide. Photo: Jelly Tse

Business

Hong Kong bankers get welcome lift from convertible bond frenzy

Convertible bond issues are seen growing in popularity across the Asia Pacific region as companies seek to lower their interest costs at a time when the primary equity market is sluggish.

Banking & Finance

‘Father of emerging markets’ Mark Mobius turns bullish on China stocks

The legendary investor has changed his view on China stocks as he believes the country’s recent property support measures will restore confidence. A recent trip to the south of the country also helped change his mind.

videocam

Banking & Finance

Members who changed tack miss out on rally as MPF returns most in 7 years

Hong Kong’s mandatory retirement fund put in its best performance in seven years in the first five months of 2024, though members who shifted their cash from Hong Kong and China equities to US stock funds have missed out.

videocam
6
Not everyone will be happy about the rally. A lot of members shifted the allocation of their assets at the wrong time. Photo: Sam Tsang
OPINION
Keith Breslauer

Concrete Analysis | UK a beacon of commercial property opportunity with end of pandemic in sight

Keith Breslauer
Martin Wong Shiu-kei

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

Martin Wong Shiu-kei
Victoria Allan

Concrete Analysis | Time to upgrade your flat as work-at-home becomes new norm

Victoria Allan
Andrew Ness

Concrete Analysis | How the bay area plan will change Hong Kong’s property landscape

Andrew Ness
Raymond Chong

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

Raymond Chong
Edward Farrelly

Concrete Analysis | Navigating evolving risks in the property, hospitality sectors

Edward Farrelly
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW