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Banking & finance

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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Victory Giant Chairman Chen Tao and his wife Non-Executive Director Liu Chunlan. Photo: AFP
IPO

Victory Giant skyrockets after biggest Hong Kong IPO this year

The Nvidia supplier jumped on its trading debut, underscoring demand for AI hardware stocks and the resilience of Hong Kong IPO demand amid Middle East upheavals.

China stock market

Outlook for China stocks brightens on capital flows, rebounding home prices

IPO

Chinese circuit-board supplier Victory Giant jumps 57% in Hong Kong share debut

China trade

China presses IMF for quota reform, better surveillance of advanced economies

PBOC head urges IMF to ‘stand against protectionism’ amid effects from tariffs, Iran war.

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PBOC governor Pan Gongsheng appears with Kristalina Georgieva, managing director of the IMF. Photo: handout
Hong Kong

Hong Kong well positioned to attract global capital amid geopolitical shifts

Hong Kong is attracting global investors seeking stability as interest grows in its financial markets, FSDC officials say.

Singapore

Man vs Mythos: Asian financial bodies sound alert on AI hacking model

Anthropic held back a wider release after finding Mythos was capable of discovering security holes that had gone undetected for years.

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Wine and Spirits

Liquid courage: Hong Kong fund pitches whisky as alternative investment

Fund pitches spirit as hedge and sees downturn as a rare entry point, citing emotional buying and shifting consumption trends.

Whisky has been gaining traction among wealthy investors seeking alternatives to traditional safe havens, according to an investment firm. Photo: Shutterstock
Mergers & Acquisitions

Orient Securities buyout to create US$85b brokerage amid consolidation push

Regulators are pressing ahead with their drive to nurture world-class investment banks through mergers and acquisitions.

Hong Kong

Hong Kong reasserts role as safe haven in global finance amid Iran conflict

The city’s safe-harbour appeal for capital and investments grows as China’s support strengthens its edge while Dubai faces pressure.

Wealth management

Cash holdings rise amid war, but Asia remains key for wealthy: Schroders CEO

High-net-worth clients continue to seek opportunities in Asia, taking a longer-term view despite global uncertainties, Richard Oldfield says.

Schroders Group CEO Richard Oldfield at the company’s Hong Kong office in Admiralty on April 15. Photo: Eugene Lee
Global monetary policy

Editorial | Chinese yuan slowly but surely cutting into US dollar dominance

Kazakhstan’s issuance of yuan-denominated debt shows developing nations can use ‘panda bonds’ as stepping stones into global capital markets.

An employee counts 100-yuan notes at a bank in Beijing on November 14, 2024. Photo: AFP
Hong Kong politics

Opinion | How markets will test Hong Kong’s new economic model

Industrial policy can guide and catalyse but it cannot substitute for a genuine competitive advantage.

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Hong Kong economy

Opinion | How Hong Kong can beat Singapore as the launch pad for Chinese firms

Chinese enterprises going global is this decade’s economic story. Hong Kong needs a system to guide them through each stage of their journey.

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Hong Kong property

Hong Kong buyers snap up more than 180 new homes as market confidence returns

About 70 per cent of buyers were end users and 30 per cent investors, with mainland buyers accounting for about 20 per cent of the total.

Prospective buyers queue at the Lai Chi Kok sales office of The Pavilia Farm III to secure flats at the Tai Wai Station development on Saturday. Photo: Jelly Tse
Japan

Macroscope | Will Japan’s corporate bond initiative signal a shift in Asia financing?

Japanese authorities are promoting the domestic corporate bond market as an alternative for firms seeking funding without losing control.

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A man stands in front of an electronic board displaying the closing numbers of the Nikkei Stock Average on the Tokyo Stock Exchange, in Tokyo, on April 2. Photo: AFP
Gold in Hong Kong

Hong Kong wants to be a global gold vault. Does the Iran war create an opening?

Geopolitical risk is driving a rethink of where bullion is stored – and Hong Kong’s unique status is drawing attention.

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China digital currency

Hong Kong seen leading Asia in push to scale stablecoins, HSBC says

Interoperability and real-world applications seen as key hurdles as city looks to unlock tokenisation’s full potential.

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HKEX

HKEX proposes halving settlement cycle to boost Hong Kong’s financial profile

Bourse operator launches a consultation on shortening the share settlement cycle to one day, aiming to implement the reform in late 2027.

If adopted, the shortened cycle will apply to equities, exchange-traded products, structured products, real estate investment trusts and listed debt securities, according to HKEX. Photo: Jonathan Wong
IPO

Manycore, one of Hangzhou’s ‘Six Little Dragons’, surges on Hong Kong IPO debut

The company’s listing highlights its pivot from design tools to advanced AI-driven spatial platforms as it eyes overseas growth.

US-China trade war

Why the biggest threat to US dollar dominance may well be Washington itself

Economic sanctions, access to US-led banking systems are powerful tools, but overuse reduces their effectiveness over time, Congress told.

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Hong Kong economy

Editorial | Hong Kong taxpayers deserve clarity on Covid-era SME loan scheme

In addition to efforts to secure repayment of defaulted loans, the public should receive an accounting of whether the spending was a good investment.

People walk past a closed shop in Causeway Bay on March 16, 2020. Photo: Sam Tsang
Yuan

China boosts overseas-loan quotas as ‘panda bond’ issuance hits record high

Beijing’s move to lift offshore-loan quotas seen helping stabilise yuan against weaker US dollar while accommodating a surge in net financing via ‘panda bonds’.

A person walks past the building of China’s central bank in Beijing. Chinese regulators have raised the overseas-loan leverage ratio for foreign banks in China and their joint ventures with Chinese lenders. Photo: Getty Images
Commodities

Geopolitics to drive Hong Kong mining fundraising amid ‘supercycle’, experts say

Hong Kong could see more mining IPOs as global demand for resources accelerates, though national security issues may slow deals: experts.

Foreign exchange market

China trims US Treasury holdings as global ownership hits record

Beijing slightly pares its sovereign US debt position as private investors and certain financial hubs drive demand up.

Wealth management

Mark Mobius, pioneering investor in China, dies at 89

‘Father of emerging markets’ was among the first fund managers to champion investments in Hong Kong and mainland China.

Mark Mobius, pictured during a media event on May 30, 2024, in Hong Kong. Photo: Enoch Yiu
Artificial intelligence

Lightelligence on track with IPO plans as China’s AI photonics race gathers pace

Shanghai-based company aims to become Hong Kong’s first listed AI photonics chipmaker as AI infrastructure buildout drives momentum.

An illustration of Lightelligence’s optical network on a chip. Photo: Handout
IPO

Global funds fuel Hong Kong IPO rebound as investors rebalance China portfolios

AI, robotics and energy storage firms make up most of the record-high IPO pipeline in Hong Kong, says Chan.

Hong Kong economy

Paul Chan backs Hong Kong to be world’s No 2 financial hub within 15 years

Finance chief says city’s strengths are its stable environment and strong growth.

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