The electronic platform of the Mandatory Provident Fund (eMPF) is expected to reach its fee cut target five years ahead of schedule and could save the scheme’s 4.75 million members HK$50 billion (US$6.4 billion) in less than 10 years, according to the chairwoman of the pension regulator. The Mandatory Provident Fund Schemes Authority (MPFA) revised…
Hong Kong Exchanges and Clearing has launched its first equity index tracking Hong Kong-listed technology companies, underscoring the city’s ongoing shift from a market long dominated by property and finance towards innovation-driven growth. Unveiled on Tuesday, the HKEX Tech 100 Index tracks 100 large-cap and mid-cap companies spanning artificial intelligence, biotech and pharmaceuticals, electric vehicles…
Hong Kong Exchanges and Clearing has launched its first equity index tracking Hong Kong-listed technology companies, underscoring the city’s ongoing shift from a market long dominated by property and finance towards innovation-driven growth. Unveiled on Tuesday, the HKEX Tech 100 Index tracks 100 large-cap and mid-cap companies spanning artificial intelligence, biotech and pharmaceuticals, electric vehicles…
Sun Hung Kai Properties’ (SHKP) luxury residential projects in North Point and Mid-Levels have attracted well-heeled buyers, including a granddaughter of Hang Seng Bank’s co-founder, who snapped up a flat for HK$72 million (US$9.3 million), according to official records. Magdalene Ho Mai-ting bought the flat in Dynasty Court in Mid-Levels, one of Hong Kong’s upmarket…
Sun Hung Kai Properties’ (SHKP) luxury residential projects in North Point and Mid-Levels have attracted well-heeled buyers, including a granddaughter of Hang Seng Bank’s co-founder, who snapped up a flat for HK$72 million (US$9.3 million), according to official records. Magdalene Ho Mai-ting bought the flat in Dynasty Court in Mid-Levels, one of Hong Kong’s upmarket…
HSBC Holdings has taken the unusual step of getting directly involved in pushing its Hong Kong subsidiary, Hang Seng Bank, to offload portfolios of bad real estate debt, underscoring growing concerns over the city’s struggling property sector. About two months ago, the lender directed its London-based global chief corporate credit officer and the head of…
Hong Kong stocks rose on Thursday as a rally in Chinese technology stocks continued. The Hang Seng Index edged up by about 0.4 per cent to 26,633.11 at the noon break. The Hang Seng Tech Index gained 1.9 per cent. On the mainland, the CSI 300 Index rose 0.9 per cent and the Shanghai Composite…
Hong Kong banks and brokers reported keen interest in the latest batch of Silver Bonds compared with last year after subscriptions opened on Monday. HSBC, the biggest of the city’s three currency-issuing banks, said application volumes and values were higher compared with the first day of sales last year. “The share of digital submission continues…
The 4.75 million members of Hong Kong’s Mandatory Provident Fund (MPF) could save up to HK$50 billion (US$6.4 billion) in fees over a 10-year period after its electronic platform’s full implementation next year, according to the city’s retirement schemes regulator. The Mandatory Provident Fund Schemes Authority (MPFA) revised its original estimate made a few years…
The executive director and CEO of Hang Seng Bank has bought a home in Hong Kong’s Tai Hang district, joining a growing coterie of financiers on the hunt for high-value residential property that has helped to drive the city’s lived-in home prices to a five-month high. A lived-in flat measuring 1,193 sq ft (110.8 square…