The United States and China have agreed to slash reciprocal tariffs, as the world’s two biggest economies seek to end a trade war that has disrupted the global outlook and set financial markets on edge. Speaking after talks with Chinese officials in Geneva on Monday, local time, US Treasury Secretary Scott Bessent told reporters the…
Sany Heavy Industry, one of China’s largest heavy equipment manufacturers, plans to use the sum of up to US$1.5 billion that it could raise in a proposed Hong Kong initial public offering (IPO) to support global expansion, despite ongoing trade tensions between China and the US, according to an executive. The Shanghai-listed company will use…
As US President Donald Trump places sweeping tariffs on Chinese goods, the spectre of trade war looms over global commerce. While attention remains on consumer goods and factory output, a quieter but potentially more lasting confrontation is taking shape that could remake global trade infrastructure. On April 17, the Office of the US Trade Representative…
Three of Hong Kong’s biggest developers – Sun Hung Kai Properties (SHKP), CK Asset Holdings and Henderson Land – are expected to dominate the housing market, as homebuyers increasingly prefer smaller flats amid economic jitters, according to JLL. The trio were set to deliver 60 per cent of new residential units in 2025 and 2026,…
Donald Trump will announce a trade deal with the United Kingdom on Thursday, US media has reported, after the president touted a “major” upcoming agreement on social media.The New York Times and Politico reported that Trump was set to agree to a deal with Britain, citing multiple people familiar with the plans. Trump had written…
Recent weakness in the Hong Kong dollar against some regional currencies has made the city more appealing to inbound tourists while lowering the costs of services, economists and industry leaders have said. The Hong Kong dollar, pegged to the US dollar, weakened against a basket of currencies as reflected in the US dollar DXY Index,…
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…
We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. China defies ASML prediction with EUV breakthrough in advanced chip…
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,…
US President Donald Trump‘s sky-high tariffs imposed in China have started making an impact even though China puts up a brave front. Tariffs have struck when China’s economy is struggling to fully recover from the pandemic effects and is also grappling with sluggish domestic demand and a protracted property sector crisis.China’s leaders are downplaying the…