Wall Street’s banner first half in trading was based on handling tariff-induced market chaos. The third quarter showed the biggest banks can also seize on the stock market’s steady march higher. Morgan Stanley led the pack in generating $4.12 billion from trading stocks in the bank’s best third quarter for the business ever. Rivals JPMorgan…
HSBC Holdings, Hong Kong’s largest lender, on Tuesday opened a 23,000-square-foot wealth management centre in the International Commerce Centre (ICC), which is expected to give a boost to the city’s struggling office market and help the bank serve its wealthy clients. The centre is located on the 99th floor of the ICC and it is…
Futu Holdings is expanding its footprint in Hong Kong with the opening of its first flagship store and inaugural Institutional and Private Wealth Services centre in Causeway Bay, underscoring the online brokerage’s ambition to capture the city’s growing base of high-net-worth clients. The new centre, occupying two floors with a combined area of more than…
Bank of East Asia (BEA), Hong Kong’s largest family-owned lender, beat expectations with 14 per cent growth in its first-half net profit, as a robust wealth-management business offset an increase in bad debt from commercial real estate. The bank recorded HK$2.41 billion (US$309 million) in net profit for the six months to June, or 86…
At the heart of why consumers in China save so much and spend so little, and why Xi Jinping and Donald Trump will struggle to change that behavior even if they want to, lies the country’s stock market. Even after a recent rally, Chinese indexes have only just returned to levels seen in the aftermath…
Stocks climbed to a record as an in-line US inflation reading eased price concerns and bolstered bets on a Federal Reserve interest-rate cut in September. The MSCI All Country World Index rose 0.2% to an all-time high, tracking Wall Street’s surge to fresh peaks, as money markets nearly priced in a full 25 basis point…
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Nifty futures are flatlining, setting the tone for a cautious start to the week for Indian stocks. After…
Shareholders of mainland Chinese companies are showing increasing interest in setting up family offices in Hong Kong after their initial public offerings amid a swelling pipeline of new listings in the city, according to an asset manager overseeing up to US$2 billion in wealth. “This week alone, I have met two clients inquiring about family…
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…
Syfe, a Singapore-based robo financial adviser and digital investment platform operator, has raised US$80 million in its Series C funding round, as the company pushes to expand its wealth management product offerings in Hong Kong. This round includes new all-equity financing worth US$53 million at a significantly higher valuation, according to the fintech start-up’s statement…