Hong Kong’s property sector could face some “short-term challenges” but “the risks are manageable” because the city’s economy was diversified and sat on a solid foundation, the chairman of the Financial Services Development Council (FSDC) said on Wednesday. “As an international financial centre, the global uncertainties would mean some Hong Kong industries would face certain…
Hong Kong police have arrested a couple on suspicion of trying to use about 10 fake HK$500 million (US$63.7 million) bonds to open an account at an HSBC branch in Central. Police said on Monday that the 66-year-old man and 62-year-old woman, both Hongkongers, were arrested for using a false instrument for allegedly presenting the…
HSBC is launching a new education series to equip Hong Kong’s small and medium-sized enterprises (SMEs) with knowledge to help them maintain smooth business operations amid the threat of disruption from US tariffs. The city’s largest lender said the Account Fitness initiative would help SMEs effectively manage and maintain healthy accounts. “Many entrepreneurs of SMEs…
By Rashika Singh (Reuters) -J.P.Morgan on Thursday forecast stablecoin growth will only reach $500 billion by 2028, calling trillion-dollar projections “far too optimistic”, as there was little evidence of mainstream adoption of the dollar-pegged cryptocurrency token. Stablecoins have moved beyond their crypto trading roots to attract interest from fintechs and banks aiming to speed up…
Wealthy people are increasingly drawn to structured products and diversified investments in light of market uncertainty, according to Standard Chartered Bank’s Eliza Law, who sees affluent clients putting more money to work in Hong Kong. “Our clients’ interest in investing has grown,” Law, managing director and head of affluent segment and distribution, wealth and retail…
Hong Kong made a forward-looking move on digital assets last month by passing a landmark law to regulate the market for stablecoins. Such a regime, which is well ahead of many jurisdictions in Asia and North America, will help bolster public confidence in this popular and fast-growing financial sector. It showcases the city’s crucial role…
Standard Chartered’s first-quarter profit beat expectations, as the bank placed a greater focus on wealth management in the face of lower interest rates and rising bad debt provisions. Net profit rose 13 per cent in the first three months of 2025 to US$1.59 billion, or 62.7 US cents per share, from US$1.4 billion last year,…
Hong Kong banks should use a government platform to verify new customers, experts have said, after eight people were arrested for allegedly using deepfake software to alter lost identity cards to set up new accounts. Experts told the Post that the inability of banks to verify personal data during the application process and their reliance…
Three people have been arrested for allegedly attempting to open a bank account in Hong Kong and depositing nearly 2,000 counterfeit bonds, each with a face value of HK$500 million (US$64 million). The suspects, two men and a woman aged between 65 and 75, were arrested on Tuesday on suspicion of using false instruments. They…
Euroclear has joined Project Ensemble, the wholesale central bank digital currency (wCBDC) initiative from the Hong Kong Monetary Authority (HKMA). The project explores using wCBDC for the settlement of tokenization transactions and for interbank settlement of tokenized deposits. Euroclear becomes a member of the Architecture Community and is the sole financial market infrastructure (FMI) community…