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The Corniche is a 295-unit luxury housing project in Ap Lei Chau. The project’s developers have only sold 31 units so far. Photo: Google Maps

Troubled Chinese developers use Hong Kong project to refinance US$1 billion loan

Logan Group and KWG Group Holdings signed a US$1.05 billion refinancing deal arranged by JPMorgan to roll over a loan due on August 25, sources said.

  • Logan Group and KWG Group Holdings signed a US$1.05 billion refinancing deal arranged by JPMorgan to roll over a loan due on August 25, sources said

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Chinese self-driving firm WeRide seeks up to US$440 million in US IPO, placement

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Chinese builders Logan, KWG near private refinance deal on US$1.3b loan: sources

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Hong Kong still magnet for rich despite Dubai prince family office saga: experts

Middle East expert says affair leaves a ‘bad taste’ in Dubai and Hong Kong, but financial hub can still attract investment from region.

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Sheikh Ali Al Maktoum (left) and then Hong Kong family office CEO Eleanor Mak after the Dubai signing of a document to set up in Hong Kong. Photo: Handout

JPMorgan finds ‘upside’ in tech stocks as China bear turns bullish

‘Macro indicators which are showing early indication of a stabilisation’ have driven a rally, according to a JPMorgan analyst known for his bearish stance.

Shein, fast-fashion giant founded in China, said to be filing London IPO

The company, which runs a large sourcing centre in southern China, reportedly will file a confidential prospectus in the coming days.

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Alibaba’s Taobao, Tmall show strong sales momentum during 618 shopping festival

About 185 brands – including Apple, Xiaomi and Huawei – have each achieved more than US$13.8 million in gross merchandise value on Taobao and Tmall during the initial period of promotions.

Alibaba Group Holding’s e-commerce apps Taobao and Tmall are at the forefront of the company’s 618 shopping festival promotions. Photo: Reuters

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.

Exclusive | Hong Kong IPO outlook brighter as rally reflates valuations, confidence: JPMorgan

A stock market rally in Hong Kong has helped raise valuations and improve sentiment among investors, feeding a recovery in fundraising activities in the city and on bourses in mainland China, JPMorgan says.

JPMorgan CEO Jamie Dimon says succession plan is ‘well on the way’

Earlier this year, Dimon, 68, moved some of his top lieutenants into new senior roles, positioning them for more experience running the bank’s operations as he prepares potential successors.

Jamie Dimon has been at the helm of JPMorgan Chase since 2006. Photo: Reuters

BlackRock whistle-blower sues over firing, shutdown of China monitoring tool

Hamdan Azhar said asset manager fired him after he objected to a colleague’s self-dealing, and was forced to shut down search engine that monitored client discussions on illegal investments, including in China.

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The BlackRock logo outside their New York headquarters. Photo: Reuters

Exclusive | Hong Kong has succeeded in attracting family offices: JPMorgan Private Bank

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.

China’s e-commerce market still has ‘ample room’ for growth: JPMorgan analyst

The mainland’s e-commerce sector achieved a 12 per cent overall growth in the March quarter, according to data from JPMorgan.

HSBC sees growth in loans to ultra-rich backed by art, jets, other assets

The bank has ‘quite an active pipeline’ of loans based on such collateral owned by ultra-high-net-worth individuals, who are often asset-rich but liquidity-constrained, private banker says.

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A visitor poses for photos with the artwork “Lollipop Bear” by Eguchi Ayane at Art Basel at the Hong Kong Convention and Exhibition Centre in Wan Chai on March 27, 2024. Photo: Eugene Lee

Blockchain’s US woes no problem for Money20/20 Asia, where excitement is high

Blockchain made up about 15 per cent of the talks at Money20/20 Asia this year, just slightly below the proportion of talks on AI, as interest remains high in Asia.

Daranee Saeju, assistant governor of the Payment Systems Policy and Financial Consumer Protection Group at the Bank of Thailand, at Money20/20 Asia in Bangkok April 23, 2024. Photo: Matt Haldane

BNP Paribas hires 30 to build up new China securities unit

BNP Paribas marks its re-entry into China’s market with hires, at a time when Morgan Stanley, Goldman Sachs and JPMorgan have all made rounds of job cuts in Hong Kong and China

JPMorgan’s Dimon lays out his vision for the future of money in an AI world

AI is likely to make dramatic improvements to workers’ quality of life, but as with every new technology, some jobs will also be lost, Dimon says.

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Hong Kong, China bankers to bear the brunt of Morgan Stanley’s job cuts

More than 40 of the 50 jobs the Wall Street firm plans to cut will be from Hong Kong and mainland China. Morgan Stanley joins a host of banks that have laid off bankers this year.

Morgan Stanley’s net revenue from Asia fell 12 per cent to US$1.74 billion in the first quarter, even as its global results topped forecasts. Photo: Reuters

Wall Street hunts for next wave of AI winners beyond the US

At a time when the global euphoria about AI has propelled a three-fold surge in Nvidia’s stock, investors are pointing toward emerging markets for better value and a bigger pool of options.

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Exclusive | JPMorgan’s faith in Hong Kong’s financial reputation unshaken 100 years on

The New York-based bank will continue to invest in Hong Kong, betting that the city where it has been doing business for a century can recover when the economic cycle turns, and live up to its potential as the financial centre of the world’s second largest economy.

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Matthews shuts Shanghai office as it joins retreat of asset managers from China

San Francisco-based Matthews International, which had fewer than 10 people in the Shanghai office, will centralise its regional research business in Hong Kong.

Fund manager Matthews International is closing its Shanghai office. Photo: Bloomberg

Reddit files for IPO, with OpenAI CEO listed as major shareholder

Artificial intelligence will become an important part of Reddit’s business, the San Francisco-based social media company says.

Reddit has filed publicly for an IPO in New York. Photo: Reuters

JPMorgan’s annual profit surges to record as quarterly net income dips

CEO Jamie Dimon reiterated his view that the US economy was steady, but warned that inflation could be more persistent than expected and rates higher for longer.

Hong Kong’s Klook raises US$210 million after turning first profit

The online travel start-up, which became a unicorn in 2018, says it will use the newly raised capital to expand product offerings and boost AI adoption.

Climate transition, wealth management and digitalisation to drive Asian economy: panel

The Climate transition, wealth management and digitalisation of the financial sector will be among key drivers of Asia’s economy, a conference organised by BIS and the HKMA heard on Tuesday.

From left, Zhang Tao, chief representative for Asia and the Pacific at BIS; Filippo Gori, Asia-Pacific CEO at JPMorgan; Eric Jing, chairman and CEO of Ant Group; UBS’s Amy Lo; and Surendra Rosha, Co-CEO of Asia-Pacific at HSBC, at the HKMA-BIS High-Level Conference in Hong Kong on Tuesday. Photo: Dickson Lee

China-founded e-commerce fashion start-up Shein files for US IPO

Valued at more than US$60 billion, Shein is expected to become the most valuable China-founded company to go public in the US since Didi Global’s debut in 2021 at a US$68-billion valuation.

Shein's holiday pop-up shop seen inside retailer Forever 21's Times Squares store in New York on November 10. Photo: Reuters

JPMorgan says unsecured loans to mainland Chinese developers a ‘risky move’

If China allows lenders to issue loans to some developers, it ‘would be negative for banks as it would raise concerns about national service risk and credit risk in the medium term’, JPMorgan analysts say.

Hong Kong poised to manage ‘lion’s share’ of Asia’s wealth: JPMorgan head

‘Hong Kong is probably going to be one of the biggest wealth centres in the world, and Singapore is catching up very quickly,’ says Harshika Patel.

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JPMorgan Chase
JPMorgan Chase is the largest bank in the United States, and one of the world’s largest public companies. 
last updated:
23 August, 2024
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