The ongoing tariff war is expected to put additional pressure on banks in Hong Kong, which are already grappling with elevated non-performing loans due to a prolonged property sector slump, according to Fitch Ratings. “Higher tariffs would reinforce our deteriorating banking sector outlooks for China and Hong Kong,” the rating agency said in a report…
Indebted Chinese developer Sino-Ocean Group won approval for its restructuring plan from a UK court on Monday despite objections from some creditors, potentially paving the way for it to prevail in a liquidation lawsuit in Hong Kong. London’s high court approved the builder’s offshore restructuring proposal, which allows the state-backed company to overhaul some US$6…
In the Year of the Snake, Hong Kong enters a world that is more perilous than ever, with US President Donald Trump threatening tariffs against key trading partners and intensifying technological competition with China. Comments from Chinese officials that there are “no winners” in a trade war drop strong hints that China would not hesitate…
China’s plan to draw long-term capital into its stock market, as a stabilising measure amid escalating tensions with the US, could drive net inflows from insurers, mutual funds and social-security funds to 1.7 trillion yuan (US$236.2 billion) this year, according to UBS. Insurance funds’ allocations to Chinese equities could rise steadily amid falling bond yields,…
China’s top legislature will begin its annual parliamentary meeting on March 5 next year – a session that will be closely watched by investors as Beijing will announce its growth target and decide on ways to stimulate the country’s stalled economy. The start date of the third annual session of the 14th National People’s Congress…
BEIJING (Reuters) -China’s new home prices fell at the slowest pace in 17 months, official data showed on Monday, as the government scaled up stimulus measures to lift the crisis-hit property sector. New home prices were down 0.1% month-on-month after a 0.5% dip in October, the slowest pace since June last year, according to Reuters…
Hong Kong Chief Executive John Lee Ka-chiu delivered his third policy address on October 16. As expected, he opened with an iteration of Beijing’s expectations of Hong Kong and the city’s institutional strengths under “one country, two systems”, plus the completion of its constitutional duty to enact national security legislation. Though economic competitiveness was not…
(Bloomberg) — China’s pledge to nearly double the loan quota for unfinished residential projects to 4 trillion yuan ($562 billion) fell short of market expectations, causing property shares to retreat as investors looked for stronger policies. Most Read from Bloomberg The government set the new year-end target for loans to so-called “white-list” property projects after…
(Bloomberg) — Stocks in Asia declined, while Chinese stocks fluctuated ahead of a press briefing on Thursday likely to detail measures of support for the nation’s beleaguered property sector. Most Read from Bloomberg MSCI’s Asia Pacific Index – a gauge for benchmarks in the region – fell for a third session, with equities in Sydney,…
Iron ore futures dropped after China stopped short of unveiling fresh fiscal stimulus to shore up the economy. At a closely watched briefing on Saturday, the finance ministry did pledge more help for the crisis-wracked property sector — a keystone of commodities demand in China — and heavily indebted local authorities, as well as hinting…