Companies in Hong Kong moved swiftly on Monday to take advantage of a new Swap Connect rule that lets them hedge using China’s onshore loan prime rate (LPR), as demand rises to manage yuan interest-rate risks. The measure, which was introduced by mainland China and Hong Kong regulators in May and went live on Monday,…
A recent dual-listing at the Astana International Financial Centre (AIFC) in Kazakhstan has been hailed as an “icebreaker” for Kazakh and Chinese issuers who are showing growing interest in pursuing cross-border equity and debt deals. According to AIFC’s governor Renat Bekturov, the debut of tungsten miner Jiaxin International Resources on both the Hong Kong and…
For people who monitor interest rates for a living, it has been a hectic week, with several major central banks making announcements. But besides finance professionals, Hong Kong people are also keenly interested. With their mortgages and business loans – and the economy in general – running on a currency pegged to the US dollar,…
Hong Kong will increase its renminbi usage by issuing more yuan bonds and settling some government expenditures, paving the way for mainland Chinese investors to use the currency to trade locally listed stocks, a minister has said. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said on Thursday the move would address the…
Hong Kong’s leader has delivered a comprehensive policy blueprint pushing for further economic reforms by expediting key infrastructure projects and doubling down on the city’s competitive strengths, while also improving livelihoods, notably charting more paths to home ownership. In a wide-ranging speech that left no stone unturned, Chief Executive John Lee Ka-chiu vowed to entice…
Eric Trump, the American president’s second son, has been called “the top diplomat of the bitcoin nation”. Last month his mission took him to the People’s Republic of China, where he spoke in Hong Kong at Bitcoin Asia, a conference dedicated to the original cryptocurrency. What is it trading at today, he asked, while on…
Hong Kong stocks rose on Wednesday on renewed optimism about China’s tech industry prospects, while investors awaited global AI chip leader Nvidia’s earnings. The Hang Seng Index gained about 0.1 per cent to 25,541.43 at noon, rebounding from a 1.2 per cent loss in the previous session. The Hang Seng Tech Index climbed 0.6 per…
China is considering doubling an investment channel local investors use to buy bonds overseas, according to people familiar with the matter, a major step in its efforts to loosen restrictions on financial flows. Regulators in the country have held early talks about expanding the so-called Southbound Bond Connect program to as much as 1 trillion…
In just the past month, stablecoin has moved from the fringes of cryptocurrency into the heart of mainstream finance. Hong Kong enacted its stablecoin ordinance, creating a regulatory framework to legitimise and support the issuance of stablecoins, while US lawmakers discuss similar legislation aimed at fostering large-scale stablecoin adoption. Meanwhile, stablecoin issuer Circle Internet Group…
Hong Kong can be a crucial partner in the continued and orderly opening of mainland China’s capital markets, particularly in advancing the internationalisation of its currency, according to HSBC’s co-CEO. As a financial hub connecting East and West, Hong Kong “can play a key role in promoting the yuan’s internationalisation by expanding its offshore liquidity…