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  • November 23, 2014
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  1. Business - Banking & Finance - YUAN

    Major steps in easing capital controls

    Posted Nov 17th 2014, 09:14am by Enoch Yiu

    ... for yuan to become an investment currency. “The yuan has been widely used in trade settlements but not yet as investment or as reserve currency. This is because there are few yuan shares listed ... of base currency or pegged status.” Henry Chan, chief investment officer of BEA Union Investment Management, said it would take some years for the yuan to become fully convertible and achieve ...

  2. Business - Economy - CURRENCY

    HKMA scraps 20,000 yuan daily conversion cap in landmark reform

    Posted Nov 12th 2014, 12:18pm by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Ending 20,000 daily limit the latest step in Beijing's internationalisation of the currency Cap on converting yuan scrapped Hong Kong will allow the city's residents to convert yuan freely from Monday- a landmark reform that marks the latest step in the internationalisation of the tightly controlled currency. The move will see the daily ...

  3. Business - Banking & Finance - CURRENCIES

    HKMA on alert as it defends peg in first currency market intervention in 18 months

    Posted Jul 03rd 2014, 02:08am by Enoch Yiu

    ... in currency markets for the first time in 18 months to defend the peg to the US dollar. The Hong Kong Monetary Authority bought US$2.1 billion to help curb the rise of the Hong Kong dollar against the greenback, after the local currency had been pushed to the upper limit of the range that triggers intervention to support the peg. Financial market volatility … could impact on our property market ...

  4. Business - Money - MARKETS

    Brokers upbeat as through train off to slow start

    Posted Nov 22nd 2014, 04:57am by Enoch Yiu, Jeanny Yu, Daniel Ren

    ... but did not, as intended, see the funds flow into stocks. Investors' ability to freely exchange any amount of yuan from other currencies had been seen as key support for the scheme. ...

  5. Business - Banking & Finance - REFORM

    Through train a catalyst for removal of yuan exchange cap

    Posted Nov 13th 2014, 07:10am by Enoch Yiu

    ... to exchange other currencies into yuan," he said. The removal of the cap, however, means Hong Kong has to settle the yuan in the offshore yuan market here instead of using the onshore market ...

  6. Business - Money - MARKETS

    Stock through train could power A-share expansion

    Posted Nov 17th 2014, 05:09am by Enoch Yiu

    ... that is scheduled to take effect when markets open today. Coupled to a landmark reform to scrap the cap on yuan currency conversion by Hong Kong citizens, the so-called "through train" could ...

  7. Business - Money - MONEY MATTERS

    Shanghai-Hong Kong Stock connect no gift to a city playing role of bridge builder

    Posted Nov 15th 2014, 04:46am by Enoch Yiu

    ... of that road-clearing effort. The scheme marks the start of the evolution of the mainland stock market into a real one and is also a big step forward in turning the renminbi into an international currency. Now ...

  8. Business - Banking & Finance - CURRENCY

    Bankers' support for scrapping of daily yuan conversion cap decisive

    Posted Nov 13th 2014, 05:38am by Enoch Yiu

    ... The Hong Kong Monetary Authority toyed with various options on the 20,000 yuan daily exchange cap while lobbying Beijing but finally decided to press for its elimination altogether in response to demands from bankers, the Post has learned. ...

  9. SFC executives under fire over pay increase

    Posted Jul 09th 2009, 12:00am by Enoch Yiu

    ... Enoch Yiu Senior executives of the Securities and Futures Commission have come under fire for receiving pay increases despite the market regulator's earnings slumping 48.4 per cent in the past financial year. A steep slide in income from levies on st ...

  10. Business - Banking & Finance - CURRENCIES

    Big challenges ahead for yuan to go global

    Posted Jun 30th 2014, 01:40am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com While the currency's role in trade is likely to grow, convertibility issue will limit its use for investment or as a reserve unit Big challenges ahead for yuan to go global Wind the clock back five years and just over a dozen transactions marked the yuan's first tentative steps on the path to becoming an international currency. Now it has ...




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