Hong Kong has struck a deal with the Shanghai Gold Exchange (SGE) to deepen cross-border connectivity in bullion trading, as the city steps up efforts to build a broader gold ecosystem spanning trading, clearing and storage. The agreement comes as gold prices hit a record high of US$5,110 per ounce on Tuesday morning, buoyed by…
The number of foreign and mainland Chinese companies and start-ups in Hong Kong surged by 11 per cent year on year to record highs, the city’s leader has said. At the 19th Asian Financial Forum on Monday, Chief Executive John Lee Ka-chiu highlighted Hong Kong’s “unprecedented achievements” as he announced a cooperation agreement to establish…
Some of the mainland firms currently looking to list in the city include China Micro Semicon (Shenzhen), Suzhou Dongshan Precision Manufacturing and Mech-Mind Robotics Technologies. “The Hong Kong market has had a strong rally this year, with international investors chasing mainland technology companies, particularly semiconductor, AI and robotics companies,” said Tom Chan Pak-lam, permanent honorary…
Some of the mainland firms currently looking to list in the city include China Micro Semicon (Shenzhen), Suzhou Dongshan Precision Manufacturing and Mech-Mind Robotics Technologies. “The Hong Kong market has had a strong rally this year, with international investors chasing mainland technology companies, particularly semiconductor, AI and robotics companies,” said Tom Chan Pak-lam, permanent honorary…
Hong Kong Exchanges and Clearing’s (HKEX’s) latest listing rules on distributing shares in popular initial public offerings (IPOs) are expected to draw more institutional investors and family offices but curb retail participation, according to industry players. The rules, which came into effect on August 4, mandate that IPO candidates allocate at least 40 per cent…
Hong Kong Exchanges and Clearing (HKEX), which operates Asia’s third-largest stock market, will reduce the minimum trading spread for about 300 stocks starting Monday, a move aimed at lowering transaction costs and increasing turnover. “The minimum spread is the minimum price change for a stock traded on an exchange and determines the tightest bid-ask spread…
Hong Kong strengthened its position as a leading global wealth management hub after investors committed major capital to the city last year, lifting assets under management to HK$35.14 trillion (US$4.5 trillion), just shy of an all-time high, before stocks and other instruments delivered hefty gains. Assets under management in the city grew almost HK$4 trillion…
The Hong Kong Monetary Authority (HKMA) stepped into the foreign-exchange market on Friday for the fifth time in two weeks, scooping up the local currency and increasing overnight lending costs to drive away carry traders who have sought to take advantage of the city’s rate gap with the US dollar. The city’s de facto central…
The Hong Kong Monetary Authority (HKMA) has stepped into the financial market again to rein back the local currency, which had been pushed above its trading band against the US dollar amid the recent influx of capital in the city’s bourse. In its first market intervention in two years, the city’s de facto central bank…