YF Life Trustees, the smallest of Hong Kong’s MPF providers, will be the first to migrate to the soon-to-be-launched eMPF Platform, while HSBC, the largest provider, will be the last, according to the pensions regulator.
Hong Kong will play a key role in Janus Henderson’s Asia expansion plan because the city is a portal to China, while the new investment-migration scheme will create demand for investment products, CEO Ali Dibadj says.
Some 238 of the 336 units available in the first batch at Uptown East in Kowloon Bay, worth about US$179 million, found buyers as of 6pm on Sunday, in a sign that the removal of all market-cooling measures has revived demand in Hong Kong.
AIA Group’s new sales in Hong Kong and mainland China continued to grow in the first two months of the year, indicating strong momentum from last year is carrying over in its two major markets, according to its top boss.
HSBC plans to promote its family office and digital banking services to attract the growing horde of ultra-high-net-worth clients in Asia to its private banking unit.
HKEX received 30 per cent more IPO applications so far in 2024, with start-ups eyeing capital raising as interest rates turn a corner, says newly-appointed CEO Bonnie Chan.
Financial firms have been flooded with inquiries after the government started accepting applications under the revamped investment migration programme, under which clients need to invest at least US$3.8 million.
Citigroup will use Hong Kong as a hub to expand its wealth management business in the Greater Bay Area and Asia, which is set to become the fastest-growing region globally, according to global wealth head Andy Sieg.
Hong Kong property sales dropped to a four-month low in February, but analysts expect the market will bounce back in the coming months after the government removed all market-cooling curbs this week.
Here is what colleagues and peers say about Hong Kong-born Chan, the first woman and first internal candidate to serve as CEO. How ready is she for the job at a challenging time for the city’s bourse?
The move aims to ‘efficiently convert residents’ bank savings into bond investments’ and help develop the country’s US$22 trillion bond market, central bank says.
Hong Kong Exchanges and Clearing delivers an 18 per cent jump in 2023 earnings as CEO Nicolas Aguzin ends his tenure after a tumultuous three years. Aguzin will pass the baton to Bonnie Chan on Friday.
The sale to an Asian customer handily surpasses the US$201 million cover bought by a tech billionaire in California in March 2014. It was certified by Guinness World Records.
Sun Hung Kai Properties reported 9 per cent growth in profit for the six months to the end of December on Wednesday, the same day that Hong Kong removed all curbs on its property market.
The relaxation by the de facto central bank followed today’s move by Hong Kong’s Financial Secretary Paul Chan Mo-po to abolish a wide swathe of decade-old curbs on the city’s housing sector.
Standard Chartered, one of Hong Kong’s three currency-issuing banks, reported an 18 per cent jump in profit, beating estimates.
HSBC, the biggest of Hong Kong’s three currency-issuing banks, missed annual profit estimates while increasing its dividend payout.
Policy sales have been boosted by the reopening of the mainland border, a weakening yuan and the interest rate gap between China and the United States, the Insurance Authority says.
HSBC, the biggest commercial bank in Hong Kong, has completed the latest round of its stock buy-back, taking the cumulative spending to US$7 billion since May last year. It will release its 2023 report card this week.
Qianhai’s tax incentives are among measures that have attracted major Hong Kong banks to invest in grade-A office buildings, and to develop a wide range of banking, securities and insurance businesses in the area.
In the third of a four-part series on the Greater Bay Area’s fifth anniversary, we look at how Hong Kong has become the de facto wealth management hub for the wealthy. Enhancements to cross-border payments and investments will only add to the city’s lustre.
The Accounting and Financial Reporting Council has handled a substantially higher volume of complaints and investigations over the past five years since it gained more power, its chairman says.
ICBC Asia, the Hong Kong unit of Industrial and Commercial Bank of China, the country’s largest lender, will continue to use technology such as artificial intelligence to prevent and investigate fraud.
A Post poll of 10 lenders found that this year’s packets range from HK$100 (US$12.82) to HK$1,000, with bank employees also set to enjoy hampers full of treats, lucky draws and even extra time off.
Markets will continue to experience volatility due to uncertainties in economic growth, interest rates and geopolitical events, analyst says.
Gold jewellery sales are expected to increase by at least 30 per cent in the Year of the Dragon because of the ‘dragon baby’ rush and gold prices are expected to hit record highs, industry players said.
An electronic platform to be launched by the MPFA, eMPF Platform will cover all 12 MPF trustees, as well as the 357,000 employers and 4.7 million members that Hong Kong’s mandatory pension scheme covers.
Many financial firms including UBS, Julius Baer, and KGI Asia have opted to use the dragon’s image on their lai see envelopes as opposed to a generic design, illustrating the mythical creature’s popularity with the public.
Luxury brands have embraced the dragon, incorporating it into their product designs as corporations eye business opportunities ahead of the Lunar New Year, when gifting new clothes and fashion accessories is a symbol of change and represents a fresh start in Chinese culture.
Nicolas Aguzin will step down as CEO of HKEX at the end of this month, passing on the top role to Bonnie Chan Yiting two months before his contract expires, according to a stock exchange announcement on Friday.