Hong Kong’s six biggest lenders lowered their prime lending rates for a third time this year, trimming borrowing costs to the lowest level in more than two years. HSBC and subsidiary Hang Seng Bank said they would trim their prime rate by 12.5 basis points to 5.25 per cent from Friday, the lowest since August…
Bitcoin’s (BTC-USD) cross above $100,000 has emboldened Wall Street bulls. After Trump’s election win catalyzed a crypto rally with hopes support of digital currencies and a more friendly regulatory regime would bolster the space, this week’s push to record highs above $103,000 per bitcoin has some strategists looking for another doubling in price by the…
Rental yields for Hong Kong residential properties have hit the highest level in more than a dozen years and are set to remain at an elevated level for two or three years, driven by robust demand from newly arrived residents and reduced mortgage costs, according to analysts. The average rental yield in the city inched…
China envisions Hong Kong’s capital markets as a beacon of prosperity, having lifted the city out of social chaos in June 2020. This week, Beijing backed that goal with vocal support at an investment summit attended by CEOs of global banks and money managers. Do global investors share the optimism? The question has never been…
Hong Kong banks’ unexpected prime rate cut on Friday will lower funding costs and bring more buyers into the market, with analysts expecting home prices in the city to bottom out “in the short term”. The Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, lowered its base interest rate for the second…
The private banking arm of Standard Chartered is running a forum in Hong Kong dedicated to the gathering of ultra-rich families. Notable attendees include a member of the Rockefeller family and the president of the Boston Red Sox. Standard Chartered Global Private Bank is hosting its inaugural «Global Family Network Forum» in Hong Kong, according…
The window for a fiscal expansion to aid in China’s economic recovery might be narrower than previously thought, analysts said, as any new round of stimulus would need to be approved by the nation’s top legislature – a body whose governing committee has a meeting scheduled for later this month. Officials of the National Development…
The Hong Kong Monetary Authority (HKMA) is monitoring an increase in bad debts in the city’s commercial real estate sector, but the authority’s top boss believes the banking system is robust enough to handle the situation without distress. “It is a concern, but not alarming as the situation is still manageable,” HKMA CEO Eddie Yue…
The Hong Kong Monetary Authority (HKMA) is monitoring an increase in bad debts in the city’s commercial real estate sector, but the authority’s top boss believes the banking system is robust enough to handle the situation without distress. “It is a concern, but not alarming as the situation is still manageable,” HKMA CEO Eddie Yue…
The new cycle of interest rate cuts spurred by the US Federal Reserve failed to lift Hong Kong’s secondary property market over the weekend, as cautious buyers from the mainland stayed on the sidelines. Only seven deals got done over the weekend, a decline of 53.3 per cent from a week earlier, marking a new…