https://www.scmp.com/rss/34911/feed Established in 1933 as a money-changing shop in Hong Kong, Hang Seng Bank is the second largest bank in Hong Kong. The bank is majority owned by the HSBC Group through The Hongkong and Shanghai Banking Corporation and is a Hang Seng Index constituent stock. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu The Hong Kong Monetary Authority (HKMA) has warned the public to beware of interest rate risks after it kept its base rate unchanged, following a similar move by the US Federal Reserve, as the city’s de facto central bank said the Middle East conflict has added to the uncertainty over the pace of rate cuts this year. HKMA maintained the city’s base rate at 4 per cent on Thursday. Hours earlier, the Fed kept its target rate in the range of 3.5 per cent to 3.75 per cent, after the second meeting... https://www.scmp.com/business/banking-finance/article/3347088/hong-kong-follows-federal-reserve-keep-base-rate-unchanged-amid-middle-east-war?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347088/hong-kong-follows-federal-reserve-keep-base-rate-unchanged-amid-middle-east-war?utm_source=rss_feed Wed, 18 Mar 2026 23:16:04 +0000 Enoch Yiu Enoch Yiu HSBC Holdings plans to raise US$2.5 billion by issuing two tranches of additional tier-1 (AT1) bonds, marking the reopening of such offerings after the US and Israel war on Iran rattled global financial markets. The biggest lender in Hong Kong and Europe by assets said in a stock exchange filing before the market opened on Wednesday that it intended to issue the AT1 bonds, officially named perpetual subordinated contingent convertible securities, on March 24 to strengthen its capital. The... https://www.scmp.com/business/banking-finance/article/3346960/hsbc-launches-us25-billion-at1-bond-issue-hong-kong-after-market-standstill?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346960/hsbc-launches-us25-billion-at1-bond-issue-hong-kong-after-market-standstill?utm_source=rss_feed Wed, 18 Mar 2026 04:29:44 +0000 SCMP SCMP This article was first published on March 18, 2006 by Benjamin Wong and Clifford Lo Officers shot with stolen police gun An off-duty police­man shot two uni­formed con­stables, killing one of them, with a gun stolen from and used to kill an officer five years ago, police sources said yes­ter­day (March 17, 2006). The off-duty con­stable, Tsui Po-ko, 35, was also killed in the shootout in Tsim Sha Tsui in the early hours of yes­ter­day. Police sources said evid­ence at the scene sug­ges­ted that... https://www.scmp.com/news/hong-kong/article/3346815/hong-kong-subway-shootout-2006-leaves-2-policemen-dead-scmp-archive?utm_source=rss_feed https://www.scmp.com/news/hong-kong/article/3346815/hong-kong-subway-shootout-2006-leaves-2-policemen-dead-scmp-archive?utm_source=rss_feed Tue, 17 Mar 2026 02:45:08 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks fell to a nearly three-month low on Wednesday, as surging oil prices fuelled bets that rising energy costs would stoke inflation and cripple global growth. The Hang Seng Index closed 2 per cent lower at 25,249.48, the lowest since December 16. The Hang Seng Tech Index lost 1 per cent. On the mainland, the CSI 300 Index slid 1.1 per cent and the Shanghai Composite Index retreated 1 per cent. Brent oil jumped 1.3 per cent to US$82.46 a barrel and the futures contract for Nymex... https://www.scmp.com/business/china-business/article/3345334/surging-oil-prices-drive-hong-kong-stocks-6-month-low-inflation-jitters?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3345334/surging-oil-prices-drive-hong-kong-stocks-6-month-low-inflation-jitters?utm_source=rss_feed Wed, 04 Mar 2026 02:05:22 +0000 Holly Chik,Jane Cai,Shi Jiangtao,Meredith Chen,Amber Wang Holly Chik,Jane Cai,Shi Jiangtao,Meredith Chen,Amber Wang This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. The US-Israel joint military campaign against Iran, now on day 3, has widened rapidly, with Iranian retaliatory missile and drone waves hitting Israel, American bases and Gulf states. Casualties include at least 555 people in Iran, four US service members killed, at least nine Israeli civilians dead, three in the United Arab Emirates and dozens in Lebanon.... https://www.scmp.com/news/china/diplomacy/article/3345089/iran-strikes-day-3-markets-open-sharp-sell-futures-and-asian-shares?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3345089/iran-strikes-day-3-markets-open-sharp-sell-futures-and-asian-shares?utm_source=rss_feed Mon, 02 Mar 2026 04:39:58 +0000 Enoch Yiu Enoch Yiu HSBC, the largest lender in Europe and Hong Kong by assets, has signalled for the first time its intent to engage with the city’s forthcoming stablecoin regime, citing Hong Kong’s sound regulatory environment and its potential to drive innovation in the digital asset space. “We are interested in every part of Hong Kong’s innovation landscape, and we want to play a role in all of it,” CEO Georges Elhedery said in a small-group interview – in response to a question whether the bank had applied for... https://www.scmp.com/business/banking-finance/article/3345047/hsbc-signals-intent-join-hong-kongs-stablecoin-regime-amid-digital-innovation-push?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3345047/hsbc-signals-intent-join-hong-kongs-stablecoin-regime-amid-digital-innovation-push?utm_source=rss_feed Sun, 01 Mar 2026 23:30:13 +0000 Enoch Yiu Enoch Yiu HSBC Holdings unveiled a range of new growth targets and strategies on Wednesday, including plans to boost investment in Hong Kong and other high-growth markets to US$1.8 billion in the coming years. CEO Georges Elhedery said the bank would raise its return target to 17 per cent or higher from 2026 to 2028, while maintaining a sustainable dividend policy. The forward-looking commitments helped lift HSBC’s share price despite a 7 per cent decline in annual profit. Among the expansion plans, the... https://www.scmp.com/business/banking-finance/article/3344541/hsbcs-2025-profit-falls-7-beats-estimates-despite-property-woes-madoff-lawsuits?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344541/hsbcs-2025-profit-falls-7-beats-estimates-despite-property-woes-madoff-lawsuits?utm_source=rss_feed Wed, 25 Feb 2026 04:32:46 +0000 Themis Qi Themis Qi Hong Kong’s tech equity benchmark is struggling to balance the artificial intelligence frenzy and picking the right industry leaders, leading to its underperformance this year, according to analysts. The Hang Seng Tech Index, which comprises 30 technology-related companies including Tencent Holdings, Alibaba Group Holding and Meituan, has fallen 5.5 per cent this year up to Friday, giving up some of last year’s 23.5 per cent gains. In contrast, the broad-based Hang Seng Index has risen 0.3 per... https://www.scmp.com/business/markets/article/3344255/why-hang-seng-tech-index-doldrums-while-ai-shares-are-soaring?utm_source=rss_feed https://www.scmp.com/business/markets/article/3344255/why-hang-seng-tech-index-doldrums-while-ai-shares-are-soaring?utm_source=rss_feed Mon, 23 Feb 2026 01:15:07 +0000 Enoch Yiu Enoch Yiu Thousands of Hong Kong bank employees will receive a return-to-work lai see on Friday, with some banks handing out extra benefits and gifts to their staff amid improving economic and market sentiment. While it is a Chinese tradition for companies to give their staff lai see on the first working day of the Lunar New Year as a token of appreciation for their hard work, many banks nowadays give their staff lai see and other goodies before the holiday. Bank of China (Hong Kong) is giving each of its... https://www.scmp.com/business/banking-finance/article/3343890/hong-kong-banks-reward-staff-gifts-extra-holiday-and-lai-see-they-return-work?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343890/hong-kong-banks-reward-staff-gifts-extra-holiday-and-lai-see-they-return-work?utm_source=rss_feed Thu, 19 Feb 2026 23:00:08 +0000 Enoch Yiu Enoch Yiu Gold, mahjong sets, fancy lai see packets and dinners with fireworks views are among the incentives Hong Kong banks are using to lure wealthy customers from the city and the mainland during the Lunar New Year, which kicks off on Tuesday. Hong Kong authorities estimated that as many as 1.43 million mainland visitors would cross the border during the holiday period, up 6 per cent from a year earlier. The Year of the Horse begins on Tuesday, but the mainland holiday started on Sunday and ends on... https://www.scmp.com/business/banking-finance/article/3343663/hong-kong-banks-lure-wealthy-clients-gold-mahjong-sets-fireworks-during-holiday?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343663/hong-kong-banks-lure-wealthy-clients-gold-mahjong-sets-fireworks-during-holiday?utm_source=rss_feed Mon, 16 Feb 2026 05:00:09 +0000 Zhang Shidong,Julie Zhang Zhang Shidong,Julie Zhang Electric-vehicle battery maker Contemporary Amperex Technology (CATL), copper miner CMOC Group and gold jewellery retailer Laopu Gold will join the Hang Seng Index next month following the latest quarterly review, as the compiler of the city’s stock benchmark pushes ahead with its plan to boost the number of constituent stocks after Hang Seng Bank withdrew its listing status. The three companies will be added to the gauge after the market close on March 6. Chinese car dealer Zhongsheng Group was... https://www.scmp.com/business/china-business/article/3343521/catl-cmoc-group-laopu-gold-join-hang-seng-index-latest-quarterly-review?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3343521/catl-cmoc-group-laopu-gold-join-hang-seng-index-latest-quarterly-review?utm_source=rss_feed Fri, 13 Feb 2026 11:39:30 +0000 Enoch Yiu Enoch Yiu Hong Kong’s retail banks posted 7.3 per cent pre-tax profit growth last year, as rising bad debts and a narrower net interest margin offset growing income from wealth-management services. The city’s 30 retail banks recorded lower growth in aggregated pre-tax profit than in 2024, when profits increased 8.4 per cent, according to data from the Hong Kong Monetary Authority (HKMA). The annual growth was much slower than the 62 per cent jump in 2023, when the city had just reopened the border with... https://www.scmp.com/business/banking-finance/article/3343311/hong-kong-banks-profit-growth-slows-rising-bad-debts-offset-wealth-management-income?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343311/hong-kong-banks-profit-growth-slows-rising-bad-debts-offset-wealth-management-income?utm_source=rss_feed Thu, 12 Feb 2026 08:31:24 +0000 Yulu Ao Yulu Ao Hong Kong stocks fell on Monday, mirroring Wall Street’s retreat, as risk sentiment evaporated after a choppy end to last week that also dragged down precious metals. The Hang Seng Index declined 2.2 per cent to 26,775.57 at the close of trading, the biggest drop since November 21. It added to a 2.1 per cent loss recorded in the previous session. The Hang Seng Tech Index dropped 3.4 per cent. On the mainland, the CSI 300 Index lost 2.1 per cent and the Shanghai Composite Index fell 2.5 per... https://www.scmp.com/business/china-business/article/3342032/hong-kong-stocks-drop-shaky-risk-sentiment-us-equities-and-metals-slide?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3342032/hong-kong-stocks-drop-shaky-risk-sentiment-us-equities-and-metals-slide?utm_source=rss_feed Mon, 02 Feb 2026 02:00:04 +0000 Enoch Yiu,Themis Qi Enoch Yiu,Themis Qi HSBC, Hong Kong’s largest bank with a 6.2 million-strong customer base, suffered a widespread system breakdown on Friday afternoon. According to some customers, the bank’s mobile app and online services were inactive as early as 1pm, with login attempts diverted to a screen stating the system was under maintenance and would be accessible at a later time. A staff member at the bank’s Mong Kok branch said HSBC’s citywide computer network had failed early Friday afternoon, but the employee did not... https://www.scmp.com/business/banking-finance/article/3341805/hsbc-suffers-system-shutdown-stopping-services-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341805/hsbc-suffers-system-shutdown-stopping-services-hong-kong?utm_source=rss_feed Fri, 30 Jan 2026 07:13:47 +0000 Ken Ip Ken Ip For generations of Hong Kong investors, Hang Seng Bank was never just a stock. It was a companion through decades of economic ascent, market turbulence and personal milestones. This is why the bank’s delisting on Tuesday after 53 years on the exchange has stirred something deeper than a routine corporate transaction would. It feels like the end of an era not because the numbers no longer add up but because the memories still do. Consider the irony of this moment. The Hang Seng Index, the city’s... https://www.scmp.com/opinion/hong-kong-opinion/article/3341427/hang-seng-banks-delisting-index-it-created-signals-shift?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3341427/hang-seng-banks-delisting-index-it-created-signals-shift?utm_source=rss_feed Thu, 29 Jan 2026 01:30:08 +0000 Yulu Ao Yulu Ao Hong Kong stocks extended a rally for a fifth day on Tuesday, supported by Wall Street gains and Chinese industrial profit data pointing to improved earnings momentum for industrial firms. The Hang Seng Index closed 1.4 per cent higher at 27,126.95, the highest level since October 3. The Hang Seng Tech Index gained 0.5 per cent. On the mainland, the CSI 300 Index was little changed and the Shanghai Composite Index added 0.2 per cent. Metal firms rose as demand for non-ferrous metals continues to... https://www.scmp.com/business/china-business/article/3341323/hong-kong-stocks-rise-fifth-day-led-chinese-metals-firms?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3341323/hong-kong-stocks-rise-fifth-day-led-chinese-metals-firms?utm_source=rss_feed Tue, 27 Jan 2026 02:11:04 +0000 Enoch Yiu Enoch Yiu Hong Kong banks may not cut their prime rates this year, but local interbank rates will still follow US rates lower, benefiting a majority of borrowers, according to a senior executive of the Hong Kong Monetary Authority (HKMA). Analysts widely expect the US Federal Reserve to cut its key rate by three-quarters of a point this year, but Hong Kong commercial banks are unlikely to cut their prime lending rates more than they already have. “It would be hard for banks to cut their prime rate any... https://www.scmp.com/business/banking-finance/article/3341150/how-lower-us-interest-rates-will-help-hongkongers-even-if-local-prime-rates-dont-drop?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341150/how-lower-us-interest-rates-will-help-hongkongers-even-if-local-prime-rates-dont-drop?utm_source=rss_feed Mon, 26 Jan 2026 03:30:14 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks traded in a narrow range on Wednesday, as investors weighed the fallout on risk assets from escalating geopolitical tensions and the contagion effect of surging Japanese bond yields. The Hang Seng Index rose 0.4 per cent to 26,585.06 at the close after changing directions more than 10 times in choppy trading. The Hang Seng Tech Index gained 1.1 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both added 0.1 per cent. Sentiment on stocks stabilised... https://www.scmp.com/business/china-business/article/3340621/hong-kong-stocks-trade-near-1-week-low-greenland-unease-japan-bond-yields?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3340621/hong-kong-stocks-trade-near-1-week-low-greenland-unease-japan-bond-yields?utm_source=rss_feed Wed, 21 Jan 2026 01:58:04 +0000 Zhang Shidong Zhang Shidong Jitters over China’s slowdown and uncertainty from geopolitical developments rattled Hong Kong stocks on Tuesday, leading the benchmark to its longest decline in two months. The Hang Seng Index fell 0.3 per cent to 26,487.51 at the close, capping a fourth day of declines for the longest such stretch since November 19. The Hang Seng Tech Index dropped 1.2 per cent. On the mainland, the CSI 300 Index slumped 0.3 per cent and the Shanghai Composite Index was little changed. The benchmark 10-year... https://www.scmp.com/business/china-business/article/3340487/hong-kong-stocks-trade-close-1-week-low-china-slowdown-jitters-tariff-dispute?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3340487/hong-kong-stocks-trade-close-1-week-low-china-slowdown-jitters-tariff-dispute?utm_source=rss_feed Tue, 20 Jan 2026 01:50:24 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks dropped to a one-week low on Monday after mainland China’s economic growth moderated in the fourth quarter and geopolitical tensions flared following a US threat to impose new tariffs on Europe. The Hang Seng Index fell 1.1 per cent to 26,563.90 at the close. The Hang Seng Tech Index dropped 1.2 per cent. On the mainland, the CSI 300 Index rose 0.1 per cent and the Shanghai Composite Index added 0.3 per cent. Gold and silver both smashed record highs on haven demand after US... https://www.scmp.com/business/china-business/article/3340359/hong-kong-stocks-slide-ahead-chinas-key-economic-data-release?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3340359/hong-kong-stocks-slide-ahead-chinas-key-economic-data-release?utm_source=rss_feed Mon, 19 Jan 2026 01:48:49 +0000 Enoch Yiu Enoch Yiu High-dividend yielding Hong Kong and mainland banking stocks are likely to attract investors looking to park some of the HK$106.16 billion (US$13.6 billion) windfall from the Hang Seng Bank privatisation deal, according to analysts. They tipped Bank of China (Hong Kong) and HSBC to be among the biggest beneficiaries these investors seek as dividend-paying replacements. About 15,000 Hang Seng Bank shareholders are expected to receive their payout cheques by February 4 in exchange for their... https://www.scmp.com/business/article/3339361/which-stocks-will-hang-seng-bank-shareholders-consider-their-us14-billion-windfall?utm_source=rss_feed https://www.scmp.com/business/article/3339361/which-stocks-will-hang-seng-bank-shareholders-consider-their-us14-billion-windfall?utm_source=rss_feed Sun, 11 Jan 2026 23:30:12 +0000 Enoch Yiu,Aileen Chuang Enoch Yiu,Aileen Chuang Following the January 8 shareholder vote that overwhelmingly approved the largest privatisation deal in Hong Kong’s history, many questions remain about the future of Hang Seng Bank, its stakeholders and the broader financial landscape. For Hang Seng Bank’s shareholders, the immediate question is what to do with the HK$106.16 billion (US$13.6 billion) windfall from HSBC Holdings for acquiring the remaining 37 per cent it does not own. “I invested in Hang Seng Bank for the long term because of... https://www.scmp.com/business/banking-finance/article/3339319/what-does-hsbcs-buyout-hang-seng-bank-mean-its-future-and-investors?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339319/what-does-hsbcs-buyout-hang-seng-bank-mean-its-future-and-investors?utm_source=rss_feed Sat, 10 Jan 2026 02:00:10 +0000 Themis Qi Themis Qi Chinese artificial intelligence-related stocks are expected to continue driving Hong Kong and mainland markets, though the pace of growth will slow, according to investment banks. Julius Baer projected Hong Kong’s benchmark Hang Seng Index to reach 29,500 by year-end, which would represent a 12.8 per cent advance from Thursday’s close of 26,149. The Swiss bank set a 12-month target for the mainland’s CSI 300 Index at 5,100, which would be 7.6 per cent higher than Thursday’s close of... https://www.scmp.com/business/banking-finance/article/3339265/chinese-ai-stocks-drive-market-gains-2026-though-pace-set-cool-banks-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339265/chinese-ai-stocks-drive-market-gains-2026-though-pace-set-cool-banks-say?utm_source=rss_feed Fri, 09 Jan 2026 05:00:10 +0000 Aileen Chuang,Enoch Yiu,Themis Qi Aileen Chuang,Enoch Yiu,Themis Qi Hong Kong’s banking sector began a new chapter on Thursday as Hang Seng Bank shareholders approved HSBC Holdings’ bid to take the lender private in a deal worth nearly US$14 billion. The proposal, under which HSBC offered shareholders HK$155 a share – 30 per cent higher than Hang Seng Bank’s HK$119 closing price on the last trading day before the announcement on October 9, received strong shareholder support, with 85.75 per cent of the votes, according to Hang Seng Bank. It surpassed the... https://www.scmp.com/business/banking-finance/article/3339044/hang-seng-bank-shareholders-set-back-hsbcs-privatisation-plan-hong-kong-lender?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339044/hang-seng-bank-shareholders-set-back-hsbcs-privatisation-plan-hong-kong-lender?utm_source=rss_feed Thu, 08 Jan 2026 02:00:11 +0000 Enoch Yiu Enoch Yiu The US Federal Reserve under a new chairman in 2026 is expected to press ahead with interest rate cuts of up to 75 basis points, a move that would lower Hong Kong’s interbank-linked loan costs but leave prime lending rates stuck at their historical low, according to analysts. The Fed and the Hong Kong Monetary Authority (HKMA) both reduced their key policy rates by a total of 75 basis points in 2025, following a full percentage-point rate cut in 2024. Hong Kong’s base rate now stands at 4 per... https://www.scmp.com/business/banking-finance/article/3337042/hong-kong-interbank-rates-forecast-drop-expected-us-monetary-easing-2026?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337042/hong-kong-interbank-rates-forecast-drop-expected-us-monetary-easing-2026?utm_source=rss_feed Thu, 01 Jan 2026 23:00:09 +0000 Lam Ka-sing Lam Ka-sing Beijing’s top office overseeing Hong Kong affairs said on New Year’s Day that the city had lived up to expectations, highlighting its response to the deadly Tai Po fire as proof of “unity and resilience”. The office’s comments came as city leader John Lee Ka-chiu, in response to President Xi Jinping’s new year greetings, pledged that Hong Kong would pursue quality development, deepen reforms and open up. The Hong Kong and Macau Affairs Office noted that both special administrative regions had... https://www.scmp.com/news/hong-kong/politics/article/3338385/hong-kong-has-lived-expectations-beijing-says-new-year-message?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3338385/hong-kong-has-lived-expectations-beijing-says-new-year-message?utm_source=rss_feed Thu, 01 Jan 2026 06:22:08 +0000 Enoch Yiu Enoch Yiu Hang Seng Bank will be removed from the Hang Seng Index after the close on January 14 if shareholders approve HSBC’s privatisation plan next week, ending the lender’s blue-chip run that dates back to 1972. Hang Seng Indexes, the index compiler and a unit of Hang Seng Bank, on Tuesday set out the timetable for changes across the benchmark index and other key gauges triggered by the proposed buyout. “It is a shame to see Hang Seng Bank removed from the benchmark index named after the bank. It has... https://www.scmp.com/business/article/3338198/end-era-hang-seng-bank-leave-hang-seng-index-after-53-years-if-buyout-passes?utm_source=rss_feed https://www.scmp.com/business/article/3338198/end-era-hang-seng-bank-leave-hang-seng-index-after-53-years-if-buyout-passes?utm_source=rss_feed Tue, 30 Dec 2025 13:10:28 +0000 Ng Kang-chung Ng Kang-chung Hong Kong’s finance chief has struck an upbeat tone about the city’s economic outlook for 2026, while forecasting that growth this year will accelerate to 3.2 per cent, surpassing earlier projections. Financial Secretary Paul Chan Mo-po said the optimistic outlook was mainly supported by anticipated growth in mainland China and Asia, along with interest rate cuts. But his optimism was questioned by former finance chief John Tsang Chun-wah and some economists. “Looking ahead to next year, Hong... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3337940/hong-kong-finance-chief-upbeat-about-2026-outlook-back-32-growth?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3337940/hong-kong-finance-chief-upbeat-about-2026-outlook-back-32-growth?utm_source=rss_feed Sun, 28 Dec 2025 10:21:25 +0000 Enoch Yiu Enoch Yiu The electronic platform of the Mandatory Provident Fund (eMPF) is expected to reach its fee cut target five years ahead of schedule and could save the scheme’s 4.75 million members HK$50 billion (US$6.4 billion) in less than 10 years, according to the chairwoman of the pension regulator. The Mandatory Provident Fund Schemes Authority (MPFA) revised its estimates of cost savings from the eMPF platform on Monday during a media briefing hosted by Ayesha Macpherson Lau, who provided an update on the... https://www.scmp.com/business/banking-finance/article/3336392/hong-kongs-empf-hit-fee-cut-target-5-years-early-saving-us64-billion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3336392/hong-kongs-empf-hit-fee-cut-target-5-years-early-saving-us64-billion?utm_source=rss_feed Mon, 15 Dec 2025 08:00:09 +0000 Themis Qi Themis Qi HSBC Holdings will host two meetings early next month on its US$14 billion buyout proposal to privatise subsidiary Hang Seng Bank. The British banking giant announced on Monday the details of the scheme document regarding the privatisation of Hang Seng Bank at HK$155 per share proposed on October 9. The court meeting and the general meeting of Hang Seng Bank shareholders will be held sequentially from 10.30am on January 8 in Hong Kong. The results of the shareholder votes at both meetings will... https://www.scmp.com/business/banking-finance/article/3336429/hang-seng-bank-shareholders-vote-hsbc-buyout-proposal-january-8?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3336429/hang-seng-bank-shareholders-vote-hsbc-buyout-proposal-january-8?utm_source=rss_feed Mon, 15 Dec 2025 03:44:42 +0000 Zhang Shidong Zhang Shidong Increased bets that the Federal Reserve will cut the interest rate next month drove Hong Kong stocks to the longest rising streak in two weeks on Wednesday. The Hang Seng Index rose for a third day, advancing 0.1 per cent to 25,928.08 at the close. The Hang Seng Tech Index also gained 0.1 per cent. On the mainland, the CSI 300 Index climbed 0.6 per cent and the Shanghai Composite Index fell 0.2 per cent. Meituan rallied 5.6 per cent to HK$103.80 before its earnings card on Friday. Hong Kong... https://www.scmp.com/business/china-business/article/3334163/hong-kong-stocks-head-longest-rising-streak-2-weeks-us-rate-cut-optimism?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3334163/hong-kong-stocks-head-longest-rising-streak-2-weeks-us-rate-cut-optimism?utm_source=rss_feed Wed, 26 Nov 2025 02:29:00 +0000 Zhang Shidong,Daniel Ren Zhang Shidong,Daniel Ren Innovent Biologics will join the Hang Seng Index next month in the latest quarterly review as the compiler of the city’s stock benchmark presses ahead with its plan to increase the number of constituents to 100. The biotech firm, based in eastern Jiangsu province, has become the only new constituent of the blue-chip indicator, one month after it signed an US$11.4 billion outsourcing deal with Japan’s Takeda Pharmaceuticals to co-develop and commercialise three specific investigational cancer... https://www.scmp.com/business/china-business/article/3333744/innovent-first-chinese-biotech-firm-market-weight-loss-drug-joins-hang-seng-index?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3333744/innovent-first-chinese-biotech-firm-market-weight-loss-drug-joins-hang-seng-index?utm_source=rss_feed Fri, 21 Nov 2025 13:01:10 +0000 Aileen Chuang Aileen Chuang Hong Kong’s financial services sector could boost hiring by as much as 15 per cent next year, fuelled by buoyant capital markets and growth in assets under management, according to a global recruitment agency. The surging equity markets in Hong Kong and mainland China had boosted revenues and budgets for hiring investment professionals and traders, said John Mullally, managing director for Hong Kong at Robert Walters. The jobs market would be “more functional”, with hiring across the financial... https://www.scmp.com/business/banking-finance/article/3333336/hiring-outlook-improves-hong-kongs-financial-sector-recruiters-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3333336/hiring-outlook-improves-hong-kongs-financial-sector-recruiters-say?utm_source=rss_feed Wed, 19 Nov 2025 02:49:35 +0000 Zhang Shidong Zhang Shidong China’s stocks will post moderate gains in 2026, maintaining momentum after a torrid run-up that placed them among the world’s best performers this year, according to Morgan Stanley. The MSCI China Index, a gauge of the nation’s major companies trading both domestically and overseas, could finish at 90 by the end of next year, implying a 3.4 per cent gain from its current level, analysts led by Laura Wang at the US investment bank said in a report over the weekend. Morgan Stanley said its... https://www.scmp.com/business/china-business/article/3333053/morgan-stanley-predicts-mild-gains-china-stocks-2026-blistering-rally-cools?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3333053/morgan-stanley-predicts-mild-gains-china-stocks-2026-blistering-rally-cools?utm_source=rss_feed Mon, 17 Nov 2025 05:30:07 +0000 Xinmei Shen Xinmei Shen Ant Group affiliate OceanBase has unveiled plans to strengthen its presence in Hong Kong, using the city as a base for overseas expansion to grow its share in the global database market dominated by US technology giant Oracle. The Chinese distributed database provider had designated Hong Kong as a “strategic hub” for its global expansion, following rapid growth in the city, as well as in Macau and the mainland, CEO Evan Yang said on Thursday. The move further solidified Hong Kong’s role as a hub... https://www.scmp.com/tech/big-tech/article/3331779/ant-group-affiliate-oceanbase-uses-hong-kong-hub-challenge-oracle?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3331779/ant-group-affiliate-oceanbase-uses-hong-kong-hub-challenge-oracle?utm_source=rss_feed Thu, 06 Nov 2025 09:00:30 +0000 Zhang Shidong,Yulu Ao Zhang Shidong,Yulu Ao Hong Kong stocks on Tuesday extended a loss following a summit that de-escalated China-US tensions as the market reassessed earlier optimism and grew wary of frothy valuations of artificial intelligence-linked shares. The Hang Seng Index fell 0.8 per cent to 25,952.40 at the close, taking the decline to 1.5 per cent since a meeting between Chinese President Xi Jinping and US leader Donald Trump last week. Trading was choppy, with the benchmark wiping out a 0.5 per cent gain on the day triggered... https://www.scmp.com/business/china-business/article/3331410/hong-kong-stocks-advance-amazon-openai-tech-alliance-despite-fed-uncertainty?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3331410/hong-kong-stocks-advance-amazon-openai-tech-alliance-despite-fed-uncertainty?utm_source=rss_feed Tue, 04 Nov 2025 02:32:16 +0000 Yulu Ao Yulu Ao Wheelock Properties sold all 60 units on offer within two hours at its latest residential project in Wan Chai on Sunday, as lower borrowing costs and improving sentiment continued to draw buyers back to Hong Kong’s primary housing market. The developer sold the entire project at Spring Garden within the first two hours of the first round of sales, generating proceeds of about HK$560 million, according to Ricky Wong Kwong-yiu, vice-chairman and managing director of Wheelock Properties. Most of... https://www.scmp.com/business/china-business/article/3331227/wheelocks-wan-chai-project-sells-out-two-hours-amid-housing-rebound?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3331227/wheelocks-wan-chai-project-sells-out-two-hours-amid-housing-rebound?utm_source=rss_feed Sun, 02 Nov 2025 09:40:49 +0000 Julie Zhang Julie Zhang The Hong Kong Monetary Authority (HKMA) has decided to focus development of the e-HKD on wholesale applications because the central bank digital currency (CBDC) has stronger potential value in large transactions than in daily retail use. The city’s de facto central bank announced the decision on Tuesday after a second phase of e-HKD trials that tested its usability and efficiency in both retail and wholesale scenarios over the past year. A CBDC is a digital version of a fiat currency built using... https://www.scmp.com/business/banking-finance/article/3330604/hong-kongs-e-hkd-better-suited-wholesale-use-retail-hkma-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330604/hong-kongs-e-hkd-better-suited-wholesale-use-retail-hkma-says?utm_source=rss_feed Tue, 28 Oct 2025 09:00:13 +0000 Enoch Yiu Enoch Yiu HSBC Holdings’ third-quarter profit missed analysts’ forecasts, as falling interest rates amid a property slump combined with a one-off provision to weigh on the balance sheet of the largest banking group in Europe and Hong Kong ranked by assets. Net profit fell 25 per cent to US$4.58 billion, or 28 US cents per share, in the quarter that ended in September, HSBC said on Tuesday. The result missed the US$5.38 billion consensus in a survey of 18 analysts conducted in mid-October, before the... https://www.scmp.com/business/banking-finance/article/3330568/hsbc-profit-slides-amid-falling-interest-rates-weak-commercial-property-market?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330568/hsbc-profit-slides-amid-falling-interest-rates-weak-commercial-property-market?utm_source=rss_feed Tue, 28 Oct 2025 04:30:58 +0000 Daniel Ren Daniel Ren China saw a remarkable increase in the number of ultra-wealthy individuals over the past year, driven by a bull market in stocks, with leaders of “new economy” companies emerging as the primary beneficiaries, according to the Hurun Research Institute. A record 1,434 individuals made it onto Hurun’s latest China Rich List, each having a net worth of at least 5 billion yuan (US$702 million). This marked an increase of 340 individuals, or 31 per cent, from the previous year. The collective wealth... https://www.scmp.com/business/article/3330544/rich-list-chinas-billionaire-count-hits-record-stock-markets-surge?utm_source=rss_feed https://www.scmp.com/business/article/3330544/rich-list-chinas-billionaire-count-hits-record-stock-markets-surge?utm_source=rss_feed Tue, 28 Oct 2025 02:00:26 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong is riding a 10-month high in transactions involving upmarket real estate deals, with former chairman and CEO of Alibaba Group Holding Zhang Yong joining the wave after purchasing a luxury home in Mid-Levels for HK$53.54 million (US$6.89 million). In the first 20 days of October, 78 first-hand private residential sales priced between HK$30 million and HK$49.99 million were registered, according to Land Registry data. “This represents a 24 per cent increase from the 63 transactions for... https://www.scmp.com/business/article/3330471/hong-kong-sees-10-month-high-upscale-home-sales-former-alibaba-ceo-joining-wave?utm_source=rss_feed https://www.scmp.com/business/article/3330471/hong-kong-sees-10-month-high-upscale-home-sales-former-alibaba-ceo-joining-wave?utm_source=rss_feed Mon, 27 Oct 2025 09:28:47 +0000 Enoch Yiu Enoch Yiu Challenges from commercial property credit quality will persist for Hong Kong banks next year, though these may be balanced by prospects in capital markets and yuan business, according to the head of the city’s de facto central bank. “The Hong Kong Monetary Authority will continue to monitor the credit quality of the property sector, which will continue to be a challenge for the banking sector next year,” said chief executive Eddie Yue Wai-man in an exclusive interview. However, there was no... https://www.scmp.com/business/banking-finance/article/3330408/property-credit-quality-issues-manageable-hong-kong-banks-hkmas-eddie-yue-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330408/property-credit-quality-issues-manageable-hong-kong-banks-hkmas-eddie-yue-says?utm_source=rss_feed Mon, 27 Oct 2025 02:20:05 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words Sixty years ago, during a banking crisis in 1965, HSBC took control of Hang Seng Bank. Now, in 2025, the former is taking the latter fully private. Talk about coming full circle. Amid turmoil in the 1960s, a new banking ordinance had been introduced and it would lead to a more... https://www.scmp.com/opinion/letters/article/3330150/not-too-late-hong-kong-economy-diversify?utm_source=rss_feed https://www.scmp.com/opinion/letters/article/3330150/not-too-late-hong-kong-economy-diversify?utm_source=rss_feed Sun, 26 Oct 2025 03:30:08 +0000 Cao Li Cao Li The property management arm of indebted mainland Chinese real estate developer Redsun Properties Group said on Friday that more than 72 per cent of its shares had been seized by receivers, after its controlling shareholder defaulted on a pledge. The holding company of Redsun Services Group had pledged about 302 million shares of the Hong Kong-listed firm as collateral for notes issued by Hong Seng Limited, an affiliated company, as part of the developer’s 2024 debt restructuring plan, according... https://www.scmp.com/business/article/3330174/chinese-developer-redsuns-property-management-arm-hit-share-seizure-hong-kong?utm_source=rss_feed https://www.scmp.com/business/article/3330174/chinese-developer-redsuns-property-management-arm-hit-share-seizure-hong-kong?utm_source=rss_feed Fri, 24 Oct 2025 05:41:22 +0000 Aileen Chuang Aileen Chuang Hang Seng Bank has appointed Hong Kong-based Somerley Capital as a financial adviser to its committee evaluating HSBC Holdings’ proposal to buy out the bank’s minority shares. Somerley would provide its opinion to assist the independent board committee in assessing the proposal, Hang Seng Bank said in an exchange filing on Wednesday. Somerley’s advice and the recommendations of the committee would be included in a forthcoming scheme document to be sent to Hang Seng Bank’s shareholders, the... https://www.scmp.com/business/banking-finance/article/3329971/hang-seng-bank-appoints-somerley-capital-assess-hsbcs-buyout-offer?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3329971/hang-seng-bank-appoints-somerley-capital-assess-hsbcs-buyout-offer?utm_source=rss_feed Wed, 22 Oct 2025 12:28:11 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks fell for a sixth day on Monday, the longest losing streak in nine months, as renewed US-China trade tensions kept investors on edge and dampened risk appetite. The Hang Seng Index closed 1.5 per cent lower at 25,889.48, extending its loss for the last six days to 5.1 per cent and marking the longest losing run since January. The Hang Seng Tech Index dropped 1.8 per cent. On the mainland, the CSI 300 Index fell 0.5 per cent and the Shanghai Composite Index retreated 0.2 per... https://www.scmp.com/business/china-business/article/3328743/hong-kong-stocks-post-longest-decline-9-months-renewed-us-china-tensions?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3328743/hong-kong-stocks-post-longest-decline-9-months-renewed-us-china-tensions?utm_source=rss_feed Mon, 13 Oct 2025 02:50:05 +0000 Kun Tian Kun Tian When HSBC announced its plan to privatise Hang Seng Bank for US$13.6 billion at a 30 per cent premium, the markets responded with enthusiasm. Many interpreted the move as a confident bet on Hong Kong’s future. But beneath the strategic packaging lies a deeper signal. This deal is not only about operational synergy. It is also a calculated response to mounting pressures in Hong Kong’s economy and property sector. The hope is that this bold step brings stability rather than reveals deeper... https://www.scmp.com/opinion/hong-kong-opinion/article/3328662/hsbcs-move-privatise-hang-seng-vote-confidence-hong-kong?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3328662/hsbcs-move-privatise-hang-seng-vote-confidence-hong-kong?utm_source=rss_feed Sun, 12 Oct 2025 08:30:08 +0000 Aileen Chuang Aileen Chuang HSBC Holdings’ US$13.6 billion bid to take full control of Hang Seng Bank could be enticing enough for investors to cash out as the deal creates long-term value for the London-based bank, although some analysts said the offer could be sweeter. On Thursday, HSBC offered to acquire the remaining 36.5 per cent stake in Hang Seng Bank it does not own at HK$155 per share, a 30 per cent premium over the previous closing price. The bank owns 63.5 per cent of Hong Kong’s largest domestic bank. The... https://www.scmp.com/business/banking-finance/article/3328525/hsbcs-us136-billion-buyout-offer-good-enough-hang-seng-bank-investors?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3328525/hsbcs-us136-billion-buyout-offer-good-enough-hang-seng-bank-investors?utm_source=rss_feed Fri, 10 Oct 2025 08:58:33 +0000 Salina Li Salina Li Buyers connected to Hong Kong property developer Great Eagle Holdings have bought another home in the New Territories after snapping up dozens of units across the city in recent months. The 773 sq ft three-bedroom unit at Grand Mayfair II in Kam Tin South, developed by China Overseas, Sino Land and K Wah, was sold for HK$11.99 million (US$1.54 million), or HK$15,510 per square foot, and handed over to Rising Thrive on October 2, according to Land Registry records. Alexander Lo Chun-him, Kan... https://www.scmp.com/business/article/3328506/hong-kong-developer-great-eagles-executives-jointly-acquire-us15-million-flat?utm_source=rss_feed https://www.scmp.com/business/article/3328506/hong-kong-developer-great-eagles-executives-jointly-acquire-us15-million-flat?utm_source=rss_feed Fri, 10 Oct 2025 07:05:41 +0000 Yulu Ao Yulu Ao Hong Kong stocks fell on Friday, tracking a pause in Wall Street’s rally, driven by growing investor concerns that the artificial intelligence boom has pushed valuations to excessive levels. The Hang Seng Index closed 1.7 per cent lower at 26,290.32, taking its loss for the week to 3.1 per cent, the most since easing 3.5 per cent for the five-day period ended August 1. The Hang Seng Tech Index shed 3.3 per cent. On the mainland, the CSI 300 Index declined 2 per cent and the Shanghai Composite... https://www.scmp.com/business/china-business/article/3328459/hong-kong-stocks-mirror-wall-street-drop-ai-bubble-fears-grow-excessive-valuations?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3328459/hong-kong-stocks-mirror-wall-street-drop-ai-bubble-fears-grow-excessive-valuations?utm_source=rss_feed Fri, 10 Oct 2025 02:29:21 +0000