https://www.scmp.com/rss/14960/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com The cha chaan teng (tea cafes) started by Michael Lee in 1999 could be carbon copies of those that punctuate street corners in North Point and Mong Kok. Staple foods like century egg and pork congee, pan-fried radish cakes and French toast with thick slabs of butter are dished out around the clock to customers in Art Deco seating areas adorned with posters dripping with nostalgia for Hong Kong, the city after which the chain is named. But one thing is out of place: the cafes are 800km away, in... https://www.scmp.com/week-asia/society/article/2113444/why-are-so-many-hongkongers-moving-taiwan?utm_source=rss_feed https://www.scmp.com/week-asia/society/article/2113444/why-are-so-many-hongkongers-moving-taiwan?utm_source=rss_feed Sun, 01 Oct 2017 00:00:15 +0000 With domestic football seasons across Europe kicking off in just a few weeks, jetting halfway around the world to play friendly matches in Asia’s sweltering summer heat seems like an odd way to prepare for a title run. But top clubs from countries including Britain, Italy and Germany will do just that as they fight for the attentions, and disposable incomes, of the region’s ever-growing legions of football fanatics. Among those heading east, 18-time English league champions Liverpool will... https://www.scmp.com/week-asia/society/article/2102702/liverpool-ac-milan-chelsea-sevillaasia-their-new-goal?utm_source=rss_feed https://www.scmp.com/week-asia/society/article/2102702/liverpool-ac-milan-chelsea-sevillaasia-their-new-goal?utm_source=rss_feed Sat, 15 Jul 2017 05:30:36 +0000 As superstar players from around the world step up to the plate this weekend for the start of the 117th Major League Baseball (MLB) season in the United States, a far smaller league is already in full swing in Taiwan, an island falling back in love with the nearest thing it has to a national sport. A sold-out crowd of 12,500 fans crammed into the Xinzhuang Baseball Stadium in New Taipei City last Saturday to watch the opening game in the 28th season of the four-team Chinese Professional Baseball... https://www.scmp.com/week-asia/society/article/2083805/how-baseball-became-hit-again-taiwan?utm_source=rss_feed https://www.scmp.com/week-asia/society/article/2083805/how-baseball-became-hit-again-taiwan?utm_source=rss_feed Sun, 02 Apr 2017 06:30:00 +0000 More companies in Hong Kong may be practising corporate social responsibility (CSR), but they still lag behind counterparts in other markets. The recently launched 4th Hong Kong SME Business Sustainability Index shows a growing acceptance for CSR, a broad term referring to socially conscious business practices. The overall indicator climbed to 66.02 (out of 100 points), an increase of 3.2 per cent from the previous survey and 13.2 per cent from the initial report in 2012. But the latest index... https://www.scmp.com/week-asia/business/article/2081124/socially-responsible-companies-hong-kong-lags-singapore-india?utm_source=rss_feed https://www.scmp.com/week-asia/business/article/2081124/socially-responsible-companies-hong-kong-lags-singapore-india?utm_source=rss_feed Mon, 27 Mar 2017 01:30:00 +0000 Most high school students dream of changing the world one day. But recent Hong Kong International School graduate Charles Watson has made his mark sooner than most. The 20-year old, now in his second gap year, has moulded a school service project into an entrepreneurial venture that literally illuminates parts of the developing world. Through his company SolarLEAP he has built and distributed over 100 solar-powered computers to schools located in Nepal, Ghana, the Philippines, and other parts of... https://www.scmp.com/article/732396/philanthropists-keen-back-20-year-old-students-solar-powered-computer-project?utm_source=rss_feed https://www.scmp.com/article/732396/philanthropists-keen-back-20-year-old-students-solar-powered-computer-project?utm_source=rss_feed Fri, 03 Dec 2010 16:00:00 +0000 A spate of strong earnings announcements from small and mid-cap companies triggered a buying spree yesterday on lower-tier stocks during an overall market rally. Joyce Boutique Holdings was the best-performing stock in the local market, up 52.5 per cent to 93 HK cents after announcing late on Friday that its interim profit increased tenfold to HK$40.4 million. More than HK$250 million worth of its shares changed hands yesterday. Chevalier International Holdings unveiled interim profit of... https://www.scmp.com/article/732046/lower-tier-stocks-demand-amid-rally?utm_source=rss_feed https://www.scmp.com/article/732046/lower-tier-stocks-demand-amid-rally?utm_source=rss_feed Mon, 29 Nov 2010 16:00:00 +0000 The market has not lacked winners this year as risk assets and safe havens alike have taken turns racking up gains while the global economy see-sawed between signs of recovery and fears of relapse. The one constant this year has been that cash is trash. Minuscule interest rates combined with rising inflation have eroded the value of money left in the bank. And Hongkongers have had to bear the additional burden of holding a currency fixed to the sinking US dollar. 'Right now, holding cash is... https://www.scmp.com/article/731845/solid-assets-draw-dollars?utm_source=rss_feed https://www.scmp.com/article/731845/solid-assets-draw-dollars?utm_source=rss_feed Sat, 27 Nov 2010 16:00:00 +0000 China Modern Dairy was one of the worst-performing stocks in the Hong Kong market yesterday as its trading debut was spoiled by concerns about mainland food safety and overall market malaise. The raw milk producer tumbled as much as 16.6 per cent in the afternoon before finishing down 13.2 per cent at HK$2.51. More than HK$750 million worth of its shares changed hands on the day. China Modern Dairy raised about HK$2.2 billion by selling 800 million new shares at HK$2.89 apiece. The offering... https://www.scmp.com/article/731722/modern-dairy-suffers-sectors-troubles?utm_source=rss_feed https://www.scmp.com/article/731722/modern-dairy-suffers-sectors-troubles?utm_source=rss_feed Fri, 26 Nov 2010 16:00:00 +0000 Mainland stroller manufacturer Goodbaby International Holdings zoomed up yesterday on its trading debut as investors scrambled to add exposure to a niche segment of China's domestic market. Goodbaby is a leading provider of strollers on the mainland and in overseas markets such as the United States and Europe. It has also expressed interest in expanding production of other children's care products. 'The story is a pretty good story because of the potential market in China,' said Ben Kwong... https://www.scmp.com/article/731602/goodbaby-rises-investors-seek-more-exposure?utm_source=rss_feed https://www.scmp.com/article/731602/goodbaby-rises-investors-seek-more-exposure?utm_source=rss_feed Wed, 24 Nov 2010 16:00:00 +0000 Shares of Hong Kong's real estate companies slumped yesterday as government plans to lift stamp duty on property transactions spooked investors and sparked a plunge in home sales over the weekend. Analysts, however, believe the measures will not be adequate to stop a new wave of capital flowing into Hong Kong, and the city's property market will not see a turnaround in the medium to long run. Property heavyweights Sun Hung Kai Properties, Cheung Kong (Holdings), New World Development and Sino... https://www.scmp.com/article/731410/cooling-measures-slam-brakes-home-sales?utm_source=rss_feed https://www.scmp.com/article/731410/cooling-measures-slam-brakes-home-sales?utm_source=rss_feed Mon, 22 Nov 2010 16:00:00 +0000 The Hong Kong Institute of Directors unveiled the winners of its directors of the year awards yesterday, highlighting the positive relationship between a company's good governance and its performance. 'Companies with a good corporate governance standard are among the first to stand out and reap the fruit of prosperous times,' said Kelvin Wong, the institute's chairman. 'The awards wish to honour those who achieve sustainable growth adhering to an extremely high standard of corporate governance... https://www.scmp.com/article/731406/directors-win-good-governance?utm_source=rss_feed https://www.scmp.com/article/731406/directors-win-good-governance?utm_source=rss_feed Mon, 22 Nov 2010 16:00:00 +0000 Brokers will have to get used to taking shorter lunch breaks and going to work earlier after the Hong Kong stock exchange yesterday announced it would extend trading hours from March next year. Securities dealers will take an hour-and-a-half lunch break from March 7 next year and around a year after will just have an hour to finish their lunch. They currently have a two-hour break from 12.30pm. They will also have to start work earlier because trading hours will begin at 9.30am instead of... https://www.scmp.com/article/731412/exchange-extends-trading-hours?utm_source=rss_feed https://www.scmp.com/article/731412/exchange-extends-trading-hours?utm_source=rss_feed Mon, 22 Nov 2010 16:00:00 +0000 Equity markets in Hong Kong and the region have already staged late-year rallies, but they have more room to run next year given strong domestic demand and economic fundamentals, JP Morgan said yesterday. 'Valuations [are] perfectly acceptable and I have reasonably optimistic expectations about growth,' said Adrian Mowat, chief Asian and emerging market equity strategist at JP Morgan. 'So I don't think the low- hanging fruit is all gone.' He said the Hang Seng Index may finish 2011 at 28,000... https://www.scmp.com/article/730979/regional-stock-markets-have-room-rise-further-analysts-say?utm_source=rss_feed https://www.scmp.com/article/730979/regional-stock-markets-have-room-rise-further-analysts-say?utm_source=rss_feed Fri, 19 Nov 2010 16:00:00 +0000 JP Morgan Asset Management has carved a niche for itself as one of the leading overseas fund houses in town, but chairman Paul Bateman has his sights set on the firm becoming one of Hong Kong's largest houses overall. The firm has been beefing up its presence over the past several years, expanding headcount from about 330 in 2005 to more than 500 this year and growing by 50 per cent in the Asia-Pacific region to an overall employee figure of 1,500. And it plans to continue adding staff... https://www.scmp.com/article/730928/jp-morgan-aims-be-biggest-player-fund-management-market?utm_source=rss_feed https://www.scmp.com/article/730928/jp-morgan-aims-be-biggest-player-fund-management-market?utm_source=rss_feed Thu, 18 Nov 2010 16:00:00 +0000 Asian MBA programmes have emerged as challengers to their more established United States peers in global academic rankings, but their pulling power may still be limited to students willing to put down roots in this region. Top students have traditionally completed their Master of Business Administration degrees in the US or Europe, where opportunities for high-level jobs are most abundant. But global growth has since shifted to Asia and business schools in the region have capitalised on the... https://www.scmp.com/article/730552/asia-now-competes-america-top-business-students?utm_source=rss_feed https://www.scmp.com/article/730552/asia-now-competes-america-top-business-students?utm_source=rss_feed Sun, 14 Nov 2010 16:00:00 +0000 The mainland's key stock index posted its biggest single-day decline in 14 months yesterday, a rude reminder to investors of the inevitability of the boom-to-bust cycle. The Shanghai Composite Index plunged 162.31 points, or 5.16 per cent, to 2,985.44 as a result of what analysts called panic selling amid expectations of an imminent interest rate rise. The sharp fall, however, pointed to heavy profit-taking by speculative funds eager to lock in their gains from the latest rally. 'A correction... https://www.scmp.com/article/730329/reality-check-mainland-stocks-plunge?utm_source=rss_feed https://www.scmp.com/article/730329/reality-check-mainland-stocks-plunge?utm_source=rss_feed Fri, 12 Nov 2010 16:00:00 +0000 The United States central bank's plan for a second round of quantitative easing has been one of the worst-kept secrets in the market, pushing up asset classes across the board for months. Now that the proof is finally in the pudding, it is time to pinpoint how it will affect investments. An unintended side effect of the Federal Reserve's decision to pump another US$600 billion into the system - the so-called quantitative easing 2, or QE2 - has been an exodus of liquidity to emerging markets... https://www.scmp.com/article/729674/new-asset-landscape?utm_source=rss_feed https://www.scmp.com/article/729674/new-asset-landscape?utm_source=rss_feed Sat, 06 Nov 2010 16:00:00 +0000 Hang Lung Group unveiled plans yesterday to raise HK$10.9 billion for its property arm through a share placement, striking while the iron is hot after Hong Kong's benchmark stock index crossed into bull market territory. The controlling shareholder of Hang Lung Properties said it would sell about 293.9 million shares in the developer and subscribe to an equal number of new ones, representing 7.05 per cent of its existing issued share capital. The proceeds will be earmarked for expansion in the... https://www.scmp.com/article/729615/index-enters-bull-market-territory-and-triggers-fresh-round-issues?utm_source=rss_feed https://www.scmp.com/article/729615/index-enters-bull-market-territory-and-triggers-fresh-round-issues?utm_source=rss_feed Fri, 05 Nov 2010 16:00:00 +0000 Hong Kong has retained its standing as one of the world's most business-friendly locations, given its streamlined procedures for starting and operating a company, the World Bank said yesterday. It was ranked second in the World Bank's Doing Business 2011 report, maintaining its position from last year. Singapore took the top spot for the fifth year. 'It's not surprising, given that their track records have been impressive over the past several decades,' said David Cohen, a Singapore-based... https://www.scmp.com/article/729567/singapore-hk-stay-top-world-bank-business-friendly-list?utm_source=rss_feed https://www.scmp.com/article/729567/singapore-hk-stay-top-world-bank-business-friendly-list?utm_source=rss_feed Thu, 04 Nov 2010 16:00:00 +0000 The Hang Seng Index scaled a two-year high yesterday as investors loaded up on stocks amid last-minute speculation about the expected announcement of a long-awaited stimulus plan in the United States. The benchmark climbed 2 per cent, or 473.25 points, to 24,144.67. Only two of the 45 constituent blue chips finished down. The Federal Reserve was poised to announce details yesterday in the US about another round of quantitative easing, referred to as QE2. Investment banks have estimated the size... https://www.scmp.com/article/729461/index-two-year-high-us-stimulus-plan?utm_source=rss_feed https://www.scmp.com/article/729461/index-two-year-high-us-stimulus-plan?utm_source=rss_feed Wed, 03 Nov 2010 16:00:00 +0000 The world's largest salary raises next year will come from Asian emerging markets where economic growth continues to burn brightly, according to a survey by human resources consultant ECA International. The mainland will have the highest real wage increase in the world in 2011, up from an estimated 4.8 per cent pick-up this year, ECA said. India and Indonesia are expected to round out the top three spots in the global rankings. 'Salary increases in the region continue to be largest within... https://www.scmp.com/article/729345/hks-salaries-stagnate-mainland-flies?utm_source=rss_feed https://www.scmp.com/article/729345/hks-salaries-stagnate-mainland-flies?utm_source=rss_feed Tue, 02 Nov 2010 16:00:00 +0000 More and more of the world's future business leaders are being groomed in Asia as MBA programmes in the region jockey with more established peers in the United States and Europe for top spots in academic rankings. A Master of Business Administration degree is supposed to be a stepping stone to upper management in financial hubs such as New York and London. That time-tested route is swerving to Hong Kong and other Asian centres, where economies are growing against an otherwise dreary global... https://www.scmp.com/article/729276/hk-mba-degrees-lure-western-students?utm_source=rss_feed https://www.scmp.com/article/729276/hk-mba-degrees-lure-western-students?utm_source=rss_feed Mon, 01 Nov 2010 16:00:00 +0000 Investors are bracing for volatility in the market this week as the US central bank is expected to unveil a controversial and much-anticipated stimulus plan that could further weaken its currency. The Federal Reserve is expected to announce details of an asset-purchase scheme, referred to as its second round of quantitative easing (QE2), before its two-day policy meeting concludes on Wednesday. Investment banks estimate the amount of money the central bank will ultimately pump in through the... https://www.scmp.com/article/729191/uncertainty-over-qe2-has-markets-rattled?utm_source=rss_feed https://www.scmp.com/article/729191/uncertainty-over-qe2-has-markets-rattled?utm_source=rss_feed Sun, 31 Oct 2010 16:00:00 +0000 Stock picking has become a lost art since the onset of the financial crisis as waves of sentiment have alternatingly lifted all boats and sunk them. But analysts say the dust is starting to settle and now may be the time to start rebuilding your portfolio with an eye towards the future. Time-tested blue chips are emerging from the scramble and approaching pre-crisis share prices, rewarding selective investors who had the patience to buy and hold amid all the market noise. Shares in Swire Pacific... https://www.scmp.com/article/729081/testing-times-easy-picks-have-disappeared?utm_source=rss_feed https://www.scmp.com/article/729081/testing-times-easy-picks-have-disappeared?utm_source=rss_feed Sat, 30 Oct 2010 16:00:00 +0000 American International Group is one step closer to repaying its debt to the United States government after the successful listing of its Hong Kong-based Asian insurance unit AIA, which jumped more than 17 per cent on its trading debut yesterday. The initial public offering originally raised HK$135.1 billion, according to a statement posted by AIA on the Hong Kong stock exchange. However, the exercise of an over-allotment option last night increased the offering to 8.08 billion shares raising net... https://www.scmp.com/article/728991/aia-shares-close-17pc-market-debut?utm_source=rss_feed https://www.scmp.com/article/728991/aia-shares-close-17pc-market-debut?utm_source=rss_feed Fri, 29 Oct 2010 16:00:00 +0000 Investors cut and ran yesterday, quitting the rally in the Hang Seng Index amid mounting speculation that the US central bank will soon fan inflation in a last-ditch bid to rev up growth. The Federal Reserve will meet next week and is expected to unveil an asset purchase scheme which investment banks estimate could ultimately amount to between US$1 trillion and US$2 trillion. It has signalled recently that it will tolerate higher inflation levels if growth initiatives can reduce unemployment.... https://www.scmp.com/article/728782/us-inflation-fears-spook-investors?utm_source=rss_feed https://www.scmp.com/article/728782/us-inflation-fears-spook-investors?utm_source=rss_feed Wed, 27 Oct 2010 16:00:00 +0000 AIA Group raised a record HK$138.4 billion after its initial public offering was upsized to capitalise on growing interest in the regional insurer. AIA priced its shares at the top of an indicated price range at HK$19.68 each and also increased the deal size to 7.03 billion shares from 5.86 billion after an adjustment option was exercised. The IPO could fetch as much as HK$159 billion if the underwriters use their over-allotment option to increase the offering to a maximum 8.08 billion... https://www.scmp.com/article/728292/aia-boosts-ipo-size-and-raises-hk138b?utm_source=rss_feed https://www.scmp.com/article/728292/aia-boosts-ipo-size-and-raises-hk138b?utm_source=rss_feed Fri, 22 Oct 2010 16:00:00 +0000 Two companies yesterday began trading on the Hong Kong stock exchange as the initial public offerings market heats up, but their debut performances were mixed. While miner IRC dipped 8.3 per cent, Springland International Holdings, an operator of department stores and supermarkets on the mainland gained 12.65 per cent. IRC, the iron ore unit of a major Russian gold producer, dropped during its trading debut as investors worried it would not be able to turn a near-term profit. The mining company... https://www.scmp.com/article/728227/irc-and-springland-put-mixed-showing-their-first-trading-day?utm_source=rss_feed https://www.scmp.com/article/728227/irc-and-springland-put-mixed-showing-their-first-trading-day?utm_source=rss_feed Thu, 21 Oct 2010 16:00:00 +0000 The recent rally in the Hang Seng Index has rekindled an appetite for the market among local investors, according to sentiment polled in a survey released yesterday. Investor confidence in a JPMorgan Asset Management survey edged up to 124 in the third quarter from 122 on a scale of zero to 200. Nearly one-quarter of the respondents expected the Hang Seng Index to top 24,000 points by March 2011. 'Without doubt, investors are turning more positive and bullish towards the market in the next six... https://www.scmp.com/article/728134/buyer-sentiment-edges-hang-seng-rally?utm_source=rss_feed https://www.scmp.com/article/728134/buyer-sentiment-edges-hang-seng-rally?utm_source=rss_feed Wed, 20 Oct 2010 16:00:00 +0000 A surprise interest rate rise failed to knock the A-share market yesterday as investors bet on an increasing inflow of speculative capital that could offset the negative impact of tighter monetary policy. The Shanghai Composite Index stayed flat, edging up 2.1 points or 0.07 per cent to 3,003.95 in volatile trading. The index fell as much as 2 per cent in the morning as the higher interest rates sparked fears about an asset bubble developing. The Hang Seng Index finished in the red; real... https://www.scmp.com/article/728142/investors-defy-sell-prediction-after-rate-rise?utm_source=rss_feed https://www.scmp.com/article/728142/investors-defy-sell-prediction-after-rate-rise?utm_source=rss_feed Wed, 20 Oct 2010 16:00:00 +0000 The Asian Development Bank broke new ground in the nascent, offshore yuan-denominated bond market yesterday, pricing the longest-tenored issue to be released so far and the first by a supranational borrower. ADB's issue carries a 10-year maturity and was increased in size to 1.2 billion yuan (HK$1.4 billion) from one billion yuan after it was more than two times oversubscribed. The market was officially sanctioned in 2007 by mainland authorities and until now has seen the issue of mostly... https://www.scmp.com/article/728037/adb-sets-benchmarks-12b-yuan-bond-sale?utm_source=rss_feed https://www.scmp.com/article/728037/adb-sets-benchmarks-12b-yuan-bond-sale?utm_source=rss_feed Tue, 19 Oct 2010 16:00:00 +0000 The Hong Kong stock exchange has been buzzing with trading activity and the prospect of further monetary easing in developed economies has left investors bracing for fresh waves of liquidity to lift the local market. The current low-interest rate global environment reduces borrowing costs and makes it easier for investors to accumulate capital and pump it into areas where it could generate a return. Earlier this month, the Bank of Japan reduced its benchmark lending rate to between 0 and 0.1... https://www.scmp.com/article/727864/wave-new-liquidity-headed-hks-way?utm_source=rss_feed https://www.scmp.com/article/727864/wave-new-liquidity-headed-hks-way?utm_source=rss_feed Sun, 17 Oct 2010 16:00:00 +0000 Growing competition for jobs in Asia is forcing expatriates to settle for less compensation and take on more work in order to secure a position. Recruitment consultants say more expatriate job seekers are knocking on doors at mainland companies instead of traditional landing spots like multinationals. Many mainland businesses are still growing and beefing up headcounts, while some Western-based ones, still recovering from the global financial crisis of 2008, have scaled back their overseas ... https://www.scmp.com/article/727631/expats-settle-less-stay-competitive?utm_source=rss_feed https://www.scmp.com/article/727631/expats-settle-less-stay-competitive?utm_source=rss_feed Fri, 15 Oct 2010 16:00:00 +0000 Value Partners Group unveiled plans yesterday to raise HK$775.5 million through a share placement, joining a growing number of Hong Kong-listed companies that have capitalised on improving sentiment and recently come to market. The locally listed asset manager said it would issue as many as 140 million new shares, representing 8.7 per cent of existing issued share capital. It earmarked about 90 per cent of the proceeds for growth purposes, including expanding its business across the border.... https://www.scmp.com/article/727626/value-partners-joins-firms-tapping-market?utm_source=rss_feed https://www.scmp.com/article/727626/value-partners-joins-firms-tapping-market?utm_source=rss_feed Fri, 15 Oct 2010 16:00:00 +0000 Baring Asset Management said yesterday it intended to get ahead of the curve by building up its emerging market equity exposure before other overseas funds piled in and drove up valuations. 'Emerging market equities are still not a consensus story,' said Marino Valensise, chief investment officer at Barings. 'And we have a chance to invest in emerging markets at today's valuations, which are actually quite cheap, rather than wait for the big guys to come in and make things a lot more... https://www.scmp.com/article/727463/barings-build-exposure-emerging-market-equities?utm_source=rss_feed https://www.scmp.com/article/727463/barings-build-exposure-emerging-market-equities?utm_source=rss_feed Wed, 13 Oct 2010 16:00:00 +0000 Transactions in Hong Kong's exchange-traded funds (ETFs) rose last month as asset managers ramped up their offerings to keep pace with growing demand. State Street Global Advisors unveiled a new fund that tracks mainland-related equities listed as B shares and in overseas markets in Hong Kong, Taiwan and Singapore. And Lippo Investments Management has officially joined the fray and launched operations as an ETF provider. There were 66 ETFs listed in Hong Kong as of September 20, covering... https://www.scmp.com/article/727162/exhange-traded-funds-gaining-popularity-asian-markets?utm_source=rss_feed https://www.scmp.com/article/727162/exhange-traded-funds-gaining-popularity-asian-markets?utm_source=rss_feed Sun, 10 Oct 2010 16:00:00 +0000 The mainland's key stock index yesterday caught up with the global rally as it posted its biggest gain in 4 1/2 months when it opened after a week-long break. But most analysts believe it is likely to turn out to be yet another short-lived rally amid a widely expected slowdown in the national economy and the unlocking of previously non-tradeable shares. The Shanghai Composite Index on the day rose 83.09 points, or 3.13 per cent to 2,738.74, the biggest single-day advance since May 24. The... https://www.scmp.com/article/726925/mainland-rally-leaves-analysts-cautious?utm_source=rss_feed https://www.scmp.com/article/726925/mainland-rally-leaves-analysts-cautious?utm_source=rss_feed Fri, 08 Oct 2010 16:00:00 +0000 The rise of the mainland's middle class will see household wealth in China surpass Japan's within five years, Credit Suisse said yesterday. The inaugural Credit Suisse Global Wealth Report said the mainland accounted for the third-highest proportion of global wealth and over a quarter of the world's adults in what it defines as the middle-wealth segment. The bank said the mainland's wealth may double from US$16.5 trillion currently to US$35 trillion by 2015. The report defines wealth as the... https://www.scmp.com/article/726922/china-set-rank-no-2-household-wealth?utm_source=rss_feed https://www.scmp.com/article/726922/china-set-rank-no-2-household-wealth?utm_source=rss_feed Fri, 08 Oct 2010 16:00:00 +0000 Concerns about a property bubble on the mainland helped sink Sunac China Holdings during its trading debut yesterday, sending its stock sliding below its offer price. The mainland developer dropped as much as 8.1 per cent yesterday morning before finishing down 3.2 per cent at HK$3.37. More than HK$850 million worth of its shares changed hands on the day. The temperature is going down in the initial public offering market, Ben Kwong Man-bun, chief operating officer of securities firm KGI Asia,... https://www.scmp.com/article/726882/property-market-fears-hit-sunacs-trading-debut?utm_source=rss_feed https://www.scmp.com/article/726882/property-market-fears-hit-sunacs-trading-debut?utm_source=rss_feed Thu, 07 Oct 2010 16:00:00 +0000 The Hang Seng Index approached a two-year high yesterday after unexpected monetary easing in Japan spurred speculation that other central banks will continue to support markets and keep liquidity taps open. The benchmark climbed 1.07 cent, or 241.27 points, to 22,880.41 as trading turnover topped HK$100 billion. It is at the highest level in 10 1/2 months and sits less than 100 points below a two-year high. 'Forces [are] at work heading more cash into the markets,' said Howard Gorges, ... https://www.scmp.com/article/726786/hk-index-near-two-year-high-liquidity-hopes?utm_source=rss_feed https://www.scmp.com/article/726786/hk-index-near-two-year-high-liquidity-hopes?utm_source=rss_feed Wed, 06 Oct 2010 16:00:00 +0000 Asian emerging markets have been a big force behind the global economy's growth but they are due for a slowdown after a prolonged expansion, Barclays Capital said yesterday. The bank recently raised its forecast for regional expansion to 9.1 per cent this year from 8.8 per cent. It, however, reiterated its prediction of a drop to 7.6 per cent growth next year. 'The emergence of capacity constraints in this region is in fact the dominant reason why the region is likely to slow,' said Peter... https://www.scmp.com/article/726695/region-expected-slow-after-prolonged-growth?utm_source=rss_feed https://www.scmp.com/article/726695/region-expected-slow-after-prolonged-growth?utm_source=rss_feed Tue, 05 Oct 2010 16:00:00 +0000 Investors kicked off trading in the fourth quarter on a hopeful note yesterday, sending the Hang Seng Index to a 10-month high following signs of resilience in the mainland economy. The country's official Purchasing Managers' Index on Friday climbed in September to the highest in four months, signalling output was picking up. Meanwhile, Premier Wen Jiabao said in a television interview on Sunday that China would further stoke domestic demand. Investors are pinning hopes on expectations that... https://www.scmp.com/article/726608/market-surges-10-month-high?utm_source=rss_feed https://www.scmp.com/article/726608/market-surges-10-month-high?utm_source=rss_feed Mon, 04 Oct 2010 16:00:00 +0000 The yuan is not like other currencies, which gyrate in ways only the most sophisticated quant traders can understand. Instead, it has charted a steady advance and people from all walks of life are scrambling to stock up on it. The ceaseless international chorus telling us how 'undervalued' the yuan is only whets investors' appetite for the currency. The currency's appreciation has given rise to a suite of related investment products that hit the shelves in Hong Kong a few years ago and have... https://www.scmp.com/article/726379/5-ways-play-yuan?utm_source=rss_feed https://www.scmp.com/article/726379/5-ways-play-yuan?utm_source=rss_feed Sat, 02 Oct 2010 16:00:00 +0000 The yuan traded in September near its strongest levels against the US dollar in over 15 years, and market watchers are forecasting even more gains ahead. The Chinese currency was at 6.6912 yuan per US dollar on Thursday on the over-the-counter market. It has appreciated against the greenback by 2 per cent since Beijing relaxed currency controls in June, strengthening 1.7 per cent this month alone, its biggest monthly gain since its landmark revaluation five years ago. It weakened for the first... https://www.scmp.com/article/726378/more-gains-ahead-forecast-yuan?utm_source=rss_feed https://www.scmp.com/article/726378/more-gains-ahead-forecast-yuan?utm_source=rss_feed Sat, 02 Oct 2010 16:00:00 +0000 Hong Kong's rich may get even richer this year, while the number of local millionaires is expected to increase as capital markets pick up throughout the region, according to Merrill Lynch Global Wealth Management. The number of high net worth individuals in Hong Kong more than doubled from about 37,000 in 2008 to 76,000 last year, said the Merrill Lynch and Capgemini's Asia-Pacific Wealth Report released yesterday. Their combined wealth increased to US$379 billion, the fifth highest among... https://www.scmp.com/article/726126/number-hong-kong-millionaires-set-rise?utm_source=rss_feed https://www.scmp.com/article/726126/number-hong-kong-millionaires-set-rise?utm_source=rss_feed Tue, 28 Sep 2010 16:00:00 +0000 Investors are bracing for volatile trading in HSBC Holdings this week after the global lender on Friday confirmed a succession plan that would reshape its top management. Rumours swirled around the banking stalwart last week until it finally crowned Douglas Flint as the next group chairman. Skittish investors worried that reports of acrimony surrounding the discussions might signal an internal divide over HSBC's future strategy. 'The whole situation is like a soap opera,' said Ricky Tam... https://www.scmp.com/article/725974/market-jitters-over-hsbc-leadership-battle?utm_source=rss_feed https://www.scmp.com/article/725974/market-jitters-over-hsbc-leadership-battle?utm_source=rss_feed Sun, 26 Sep 2010 16:00:00 +0000 Shanghai once hummed with news about 'can't miss' stocks. So when retail investor Bobby Zhu heard a tip about an impending mega-merger a few years back, he pumped 100,000 yuan into the market and set his sights on an overnight fortune. 'I was quite keen to make a quick margin,' said Zhu, a 27-year-old who works at a shipping company. 'But the so-called insider news turned out to be just a rumour.' He finally bailed out of the investment after two months and no news, losing at least 20,000 yuan.... https://www.scmp.com/article/725771/shanghais-small-investors-learn-how-play-safe?utm_source=rss_feed https://www.scmp.com/article/725771/shanghais-small-investors-learn-how-play-safe?utm_source=rss_feed Fri, 24 Sep 2010 16:00:00 +0000 The Hang Seng Index has had a sterling September, and with four trading sessions still remaining, it has already matched a performance record set more than three years ago. The main stock index finished in positive territory yesterday, notching its 15th gain out of 17 trading days so far this month. That guarantees it will be the first month since July 2007 to have six negative sessions or less. It can set the record for the best month in 17 years if it finishes in the black just twice more in... https://www.scmp.com/article/725774/hsi-track-its-best-month-17-years?utm_source=rss_feed https://www.scmp.com/article/725774/hsi-track-its-best-month-17-years?utm_source=rss_feed Fri, 24 Sep 2010 16:00:00 +0000 Economists see speed bumps ahead for the mainland economy, fearing that a surge in domestic demand may force the government to clamp down on unbridled growth. Inflation picked up last month as key economic growth indicators such as industrial production, retail sales and imports rebounded. As a result, the authorities have allowed measured increases in the yuan to send the currency to its highest exchange rate in more than 15 years. Nomura International lowered its growth forecast for China to... https://www.scmp.com/article/725399/mainland-expected-curb-growth-after-surge-domestic-demand?utm_source=rss_feed https://www.scmp.com/article/725399/mainland-expected-curb-growth-after-surge-domestic-demand?utm_source=rss_feed Mon, 20 Sep 2010 16:00:00 +0000 China's economic boom may have kept Hong Kong and other nearby markets afloat in 2009, but it has threatened to sink them this year as investors fret whether mainland authorities will be able to sustain the growth. 'Being too close to China in 2010 is bad for your stock market,' said Tim Condon, chief economist for Asia at ING Financial Markets. 'This administrative policy set-up in China is not one that gives financial markets comfort. In fact, it makes financial markets nervous.' The Shanghai... https://www.scmp.com/article/725300/overseas-investors-fret-mainland-authorities-continue-tightening?utm_source=rss_feed https://www.scmp.com/article/725300/overseas-investors-fret-mainland-authorities-continue-tightening?utm_source=rss_feed Sun, 19 Sep 2010 16:00:00 +0000