The Hang Seng slipped for a second-straight day on Thursday, with Apple’s suppliers hit after the tech giant reported underwhelming quarterly revenue.
Banks preparing companies for listing on Hong Kong’s stock exchange will be made explicitly liable for IPO prospectuses, under proposals released by the SFC on Wednesday.
Gambling revenue in Macau, the world’s largest casino market, rose 7.9 per cent in November year-on-year, boosted by strong spending from China’s emerging middle class.
American International Group (AIG) has signed an accord with Chinese state-owned insurer PICC Group to sell life insurance in the world’s second-largest economy, as the US insurer increases its bets in an underdeveloped market.
Hong Kong shares had their best week in seven on Friday, with the Hang Seng Index hitting a 15-month high as fund inflows buoyed hopes of further gains by year-end and encouraged investors to build riskier positions.
China Construction Bank is planning to issue an offshore yuan bond in London, a move to further promote China’s currency outside Asia as Beijing accelerates the process to make it international.
The Secretary for Financial Services and the Treasury Chan Ka-keung said on Friday that the government has no plans to change the Hong Kong dollar’s peg to the US dollar.
The HKMA stepped into the currency market for a seventh time on Thursday by selling almost US$300 million in Hong Kong dollars, as the local currency repeatedly hit the top end of its trading range.
The Hong Kong Monetary Authority (HKMA) said on Tuesday it had stepped into the market by selling HK$2.7 billion as the currency repeatedly hit the top end of its trading range.
Hong Kong shares slipped 0.2pc on Monday as local developers tumbled on fears new measures to cool soaring property prices, but losses were limited by strong earnings by Chinese banks.
China Unicom (Hong Kong), the country’s second-biggest mobile phone operator, posted a 27 per cent rise in third-quarter net profit after subscribers on its 3G network increased strongly, although the gain lagged estimates.
Bank of China posted its biggest quarterly profit gain in a year, beating estimates, as interest margins widened following increased demand for credit.
The Hang Seng hit a fresh 2012 high on Wednesday, buoyed by expectations of more capital inflows after the HKMA moved to weaken the Hong Kong dollar for the fourth time in a week.
The Hong Kong Monetary Authority stepped into the currency market twice on Tuesday as the local currency hit the top end of its trading range.
The AFC's acting chief Zhang Jilong criticised president Mohamed Bin Hammam for attempting to derail an investigation into financial wrongdoing through the use of “intimidation”.
The Kwok brothers’ corruption trial was adjourned on Friday until January to allow the prosecution more time to gather evidence in Hong Kong’s highest-profile graft case in decades.
Esprit posted a jump in net profit but missed analysts' forecasts as a slowing global economy weighed on sales, sending its shares plunging 8 per cent.
Sun Hung Kai Properties, the world’s second-largest real estate developer, posted record earnings on Thursday on the back of strong property prices and low interest rates.