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  1. Subprime problems unlikely to keep HK market down

    Posted Aug 17th 2007, 12:00am by Jake Van Der Kamp

    ... Jake van der Kamp 'Hong Kong stocks fell yesterday, pushing the Hang Seng Index to a two-month low, on concern United States subprime mortgage losses would spread, dampening global ... refrain that I have heard over the last two weeks about this subprime mortgage business in the US- 'Why is anyone surprised? This was waiting to happen for several years. We knew it had ...

  2. Fitch cuts HK growth forecast to 4.4pc on subprime, oil concerns

    Posted Feb 21st 2008, 12:00am by Enoch Yiu

    ... the strong stock market, which will offset the provisions made for the subprime mortgage-structured products.' The hardest-hit lender would be Citic Ka Wah Bank, but its ultimate parent, Citic ... Enoch Yiu Fitch Ratings yesterday cut its estimate of Hong Kong's economic growth this year to 4.4 per cent from 5.3 per cent due to a host of factors ranging from the subprime ...

  3. Yam warns of subprime fallout

    Posted Sep 07th 2007, 12:00am by Staff Reporter

    ... Maria Chan Hong Kong's banking sector may not suffer any systemic risk from the US subprime mortgage problem but that is no reason to be complacent, the Hong Kong Monetary Authority warned yesterday. 'The outcome of the US sub-prime mortgage problem and its effect on the global economy are still unpredictable,' said Joseph Yam Chi-kwong, the chief executive ...

  4. HKMA says outlook for loan demand clouded by subprime fallout

    Posted Jan 25th 2008, 12:00am by Staff Reporter

    ... Maria Chan The Hong Kong Monetary Authority said there was some uncertainty in the outlook for loan demand given the potential spillover from the US subprime crisis and concerns about ... risen last year due to subprime-related investments which could affect profitability. However, it said, the asset quality of the banking sector remained good. ...

  5. Mainland pushes securitisation despite subprime turmoil

    Posted Nov 01st 2007, 12:00am by Cary Huang

    ... Cary Huang in Beijing The mainland will go ahead with plans to introduce securitisation despite the turbulence triggered by the meltdown in US subprime mortgages, People's Bank ... the country from the fallout from the US subprime mortgage crisis. The country has been slow to adopt securitisation with only four deals since the market was launched in late 2005. A recent Goldman ...

  6. Subprime losses seen for H-share banks

    Posted Aug 13th 2007, 12:00am by Enoch Yiu

    ... Enoch Yiu The mainland's six Hong Kong-listed banks are estimated to have incurred combined losses of 4.9 billion yuan arising from their exposure to the US subprime mortgage ... including mortgage-backed securities with exposure to subprime mortgages for borrowers with poor credit records. However, Bank of China vice-governor Zhu Min estimated the bank's losses would ...

  7. Banks pass subprime stress test, says HKMA

    Posted Dec 20th 2007, 12:00am by Staff Reporter

    ... the hypothetical shocks,' the monetary authority said in a report. The HKMA said the major hit to the banking sector from the US subprime mortgage problem would come from the contagious effect on Hong ... a stress test on the loan portfolios of retail banks after the subprime mortgage problem arose. In a worst-case scenario, the study assumed two consecutive quarters of recession in the US, leading ...

  8. BOCHK net beats market forecast despite impact of mortgage crisis

    Posted Mar 26th 2008, 12:00am by Staff Reporter

    ... provisions for its United States subprime investments. The local mortgage lender said net profit rose 10.3 per cent to HK$15.45 billion from HK$14.01 billion in 2006. Analysts polled by Thomson Financial had been expecting a net profit of HK$14.43 billion. Despite the bullish numbers, the bank surprised the market yesterday by disclosing HK$1.25 billion in write-downs on its subprime ...

  9. CCB discloses US$1.06b in subprime investments

    Posted Aug 27th 2007, 12:00am by Staff Reporter

    ... of investments related to United States subprime mortgages as it announced higher than expected first-half profit. The bank said it had set aside 139 million yuan as provision against securities rated AA ... prompting the lender to make 1.14 billion yuan of provisions while Industrial and Commercial Bank of China had US$1.22 billion in subprime investments. 'These securities are expected to have ...

  10. US subprime crisis claims new victims

    Posted Mar 18th 2008, 12:00am by Amanda Lee

    ... funds that invest mostly in short maturity bonds are not affected by any downgrade action. Facing problems paying off insurance claims on a trillion dollars of subprime mortgages and other ... conditions. BlackRock says its portfolios that invest in the top tranches of the commercial mortgage-backed securities deals (CMBS) have not been affected by the current problems with these bond ...




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