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.

The Hang Seng Index closed lower for a seventh day, posting the longest losing streak since mid-August. Cross-strait tensions rose a notch as Taiwan votes for a new president later this week.

The new year is barely two weeks old and some strategists are unsure if the city’s stock market will convincingly end a four-year losing streak.

Sun Hung Kai Properties (SHKP) topped the city’s home sales table in 2023, accounting for over a quarter of the deal volume for residential flats in one of the world’s most expensive property markets.

The focus on shareholder returns partly reflects HSBC’s new strategy to deflect last year’s break-up call by its largest stakeholder Ping An Group.

The HKMA hosted 300 global bankers at the Palace Museum in the lead up to the second edition of its Global Financial Leaders’ Investment Summit, which takes place over the next two days.

China Resources Longdation, a property arm of state-owned conglomerate China Resources, plans to raise between US$500 million and US$1 billion in a Hong Kong initial public offering (IPO), according to three sources with direct knowledge of the matter.

HSBC Holdings is acquiring Citigroup’s retail wealth management business in mainland China, accelerating its push in the world’s second-largest economy.

Chinese copper foil maker Londian Wason Energy Tech is planning an initial public offering in the US, and the company is working with Citigroup and Goldman Sachs on the listing preparations.

Clients from not only China but also Southeast Asia, the Middle East and Europe are showing sustained interest, says Ida Liu, global head of Citi Private Bank.

Can Chinese stocks still live up to bullish post-pandemic optimism? Analysts at HSBC Qianhai, Citigroup and UBS are the latest to trim and rein in their year-end targets.

BNY Mellon has joined Citigroup and Jefferies in becoming less bullish on Chinese stocks, after economic data fell short of estimates in April. It expects the yuan to trade above the 7 mark for the foreseeable future.

Samsung is banning employee use of popular generative AI tools like ChatGPT after discovering staff uploaded sensitive code to the platform.

Citigroup, the biggest foreign lender in Hong Kong, will increase staff at its commercial banking unit in the city by 100 to tap growing opportunities in the Greater Bay Area, according to a senior executive.

JPMorgan Chase, Bank of America, Citigroup and Wells Fargo will contribute US$5 billion each, while Goldman Sachs and Morgan Stanley will kick in US$2.5 billion apiece.

Banks including JPMorgan Chase, Bank of America and Citigroup are limiting the use of OpenAI’s ChatGPT as professionals realise the tech is not seamless.

Profit slumped last quarter by the most in more than a decade as memory chip prices crashed. Samsung may have to rein in capital expenditure to conserve cash, Citigroup says.

Citigroup first announced plans to exit consumer banking in 14 markets internationally, including mainland China, last year. It has since announced sales in nine markets.

A total of 20 financial giants, which also include JPMorgan Chase and Citigroup, have offered to support the development of fintech talent in the region.

The slowest economic growth in two years is hardening analysts’ view that China will step up stimulus spending to achieve its GDP target. That is all good for the stock market, according to Citigroup.

Anil Wadhwani, a former Citigroup and Manulife executive, will be based in Hong Kong as part of Prudential’s shift to Asia.

All the new hires report to Erik Tung, head of China investment banking, according to an internal memo.

Citigroup is hiring more private bankers to compete with HSBC and rivals in Hong Kong, as wealthy clients seek alternatives to volatile stocks to boost returns

Stocks struggled to build momentum in Hong Kong as risk appetite waned. Investors are worried Omicron outbreaks in China and the Fed tightening will stoke recession risks.

Goldman Sachs plans to close its operations in Russia, becoming the first major Wall Street bank to leave in response to the nation’s invasion of Ukraine.

The SFC fined Citigroup Global Markets Asia HK$348.25 million for ‘pervasive dishonest behaviour’ on its various trading desks between 2008 and 2018.

DZ Bank’s Manuel Muhl, the only analyst with a sell rating on Alibaba, says the consensus remains too bullish and expects a whole round of revisions.

HSBC, Standard Chartered – two of Hong Kong’s biggest banks – previously said they have little to no direct exposure to troubled China Evergrande Group.

Jennifer Gates just married multimillionaire Nayel Nassar in a lavish ceremony – but just who is the man who won over the former richest person in the world’s daughter?