The Exchange Fund, Hong Kong’s financial war chest for defending the currency peg, reported a loss for the fourth quarter because of falling bond prices and a valuation loss on non-US dollar assets. For the full year, the fund reported its fifth-best annual return, as a diversified investment approach paid off. The investment return in…
Hong Kong’s lived-in home prices fell in December to complete three straight years of setbacks, as geopolitical and inflation risks clouded the prospects for more interest-rate cuts by global central banks. Prices in the secondary market declined 0.65 per cent last month, following gains in October and November, according to data published by the Rating…
Investors in Hong Kong are bracing for a Year of the Snake full of uncertainties and some market participants are looking to artificial intelligence (AI) and feng shui masters to determine what lies ahead. The Hang Seng Index will be flat in the first quarter, it will rise in the second quarter and will decline…
Homebuyers flocked to a new residential project by Early Light International Holdings in Hong Kong’s New Territories on Saturday, drawn by its value for money and investment potential ahead of the inauguration of US president-elect Donald Trump. As of 3.30pm, 179 of the 280 units offered at The Reserve at Gold Coast Bay in Tuen…
Life insurance sales soared to a record in Hong Kong last year, as customers rushed in from the Middle East, Southeast Asia and mainland China. Sales grew 15.7 per cent in the first nine months of 2024 to HK$169.7 billion (US$21.8 billion), from HK$146.5 billion in the same period in 2023, according to the Insurance…
Seoul’s Kospi swung after South Korean President Yoon Suk Yeol was impeached at the weekend for this month’s short-lived martial law declaration (Handout) Asian markets mostly fell Monday after an unexpected slowdown in retail sales reinforced worries about China’s economy, with the latest batch of weak data compounding the disappointment of Beijing’s latest stimulus pledges….
Crude oil prices began trade with a gain today as traders turned their attention to U.S. monetary policy and China’s latest move to accelerate growth through stimulus measures. At the time of writing Brent crude was trading at $72.57 per barrel, with West Texas Intermediate changing hands for $68.98 per barrel. The climb followed an…
US equity futures rose on Friday, signaling a positive start to trading after Thanksgiving, as the S&P 500 heads toward its best month since February. Futures tied to the index pointed to modest gains, following a 5% rise in November and a 26% surge year-to-date, fueled by strong performances from tech giants and international market…
Homebuyers flocked to a new residential project offered by Wang On Properties in Hong Kong’s Eastern district on Saturday, showing renewed enthusiasm for the city’s real estate market driven by the government’s stimulus measures. As of 3:30pm, 98 of the 157 units on sale at 101 King’s Road, a housing project that consists of a…
Hong Kong’s finance chief has revealed that another 17 companies will set up offices locally under a government push to develop the innovation and technology sector, as he pointed to “golden opportunities” for firms looking to settle in the city. Financial Secretary Paul Chan Mo-po also said on Sunday that Hong Kong would need to…