https://www.scmp.com/rss/5156/feed Enoch joined the Post as a business reporter in 1996. Before that, she worked at a Chinese daily newspaper for four years. She is the author of two books: 'They Mean Business: 50 exclusive interviews with Hong Kong top executives' and 'Serving with Passion: stories of established catering brands in Hong Kong'. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu Assets under management in Hong Kong would double with the addition of just a small portion of the money global insurance and pension funds have to invest, according to a member of the Financial Services Development Council (FSDC). Hong Kong should do more to attract this so-called patient capital – assets that insurance companies and pension funds invest for the long term, said the government think tank that promotes the city as an international financial centre, in a report on... https://www.scmp.com/business/banking-finance/article/3374049/how-hong-kong-can-double-asset-holdings-target-worlds-patient-capital-fsdc-advises https://www.scmp.com/business/banking-finance/article/3374049/how-hong-kong-can-double-asset-holdings-target-worlds-patient-capital-fsdc-advises Wed, 11 Nov 2026 09:00:24 +0000 Enoch Yiu Enoch Yiu FWD Private (Bermuda), a unit of Hong Kong-listed FWD Group founded by billionaire Richard Li Tzar-kai, has set a new Guinness World Record by selling a US$318 million life insurance policy, the companies said in separate announcements on Tuesday. The record-breaking sale surpasses the previous record of US$300 million set by Manulife Singapore in February this year. Previously, HSBC Life Hong Kong sold a world record US$250 million life policy in early 2024. FWD did not name the client but said... https://www.scmp.com/business/banking-finance/article/3373928/richard-lis-fwd-sets-world-record-sale-us318m-life-insurance-policy https://www.scmp.com/business/banking-finance/article/3373928/richard-lis-fwd-sets-world-record-sale-us318m-life-insurance-policy Tue, 10 Nov 2026 09:00:22 +0000 Zhu Wenqian,Enoch Yiu Zhu Wenqian,Enoch Yiu Hong Kong’s Exchange Fund, the war chest used to defend the local currency, reported a 74 per cent tumble in third-quarter earnings amid pervasive market uncertainty. The outlook for the final quarter is also challenging, the Hong Kong Monetary Authority (HKMA) said on Friday. Earnings totalled HK$18.6 billion (US$2.4 billion) in the quarter, plunging from HK$70.8 billion a year earlier. For the first nine months of 2026, total earnings slid 39.6 per cent from a year earlier to HK$171.9... https://www.scmp.com/business/banking-finance/article/3373507/hong-kongs-exchange-fund-earnings-tumble-74-hkma-warns-more-market-turbulence https://www.scmp.com/business/banking-finance/article/3373507/hong-kongs-exchange-fund-earnings-tumble-74-hkma-warns-more-market-turbulence Fri, 06 Nov 2026 05:35:25 +0000 Enoch Yiu Enoch Yiu Recent unrest in France and the Middle East war could prompt investors to seek greater diversification, potentially driving capital inflows to Asian markets in the coming months – including mainland China and Hong Kong – according to a senior executive of Allianz Global Investors (AllianzGI), one of Europe’s largest fund houses. Julie Koo, head of distribution in Asia-Pacific for the company, said the recent protests in France, Italy and Spain would lead investors to review and adjust their... https://www.scmp.com/business/markets/article/3372502/hong-kong-poised-capital-inflow-amid-unrest-france-middle-east-war-allianzgi https://www.scmp.com/business/markets/article/3372502/hong-kong-poised-capital-inflow-amid-unrest-france-middle-east-war-allianzgi Thu, 29 Oct 2026 06:00:40 +0000 Daisy Wu,Enoch Yiu Daisy Wu,Enoch Yiu The Hong Kong Monetary Authority (HKMA) warned of considerable uncertainty over the path of US interest rates as it kept its base rate unchanged at 4.25 per cent on Thursday, hours after the US Federal Reserve also held its benchmark rate steady. Hong Kong’s three note-issuing banks – HSBC, Bank of China (Hong Kong) and Standard Chartered – all followed the HKMA’s lead, keeping their prime rates unchanged. The Hong Kong dollar could continue to weaken due to the gap between Hong Kong and US... https://www.scmp.com/business/banking-finance/article/3372495/hong-kong-holds-base-rate-425-after-us-federal-reserve-decision https://www.scmp.com/business/banking-finance/article/3372495/hong-kong-holds-base-rate-425-after-us-federal-reserve-decision Wed, 28 Oct 2026 23:09:59 +0000 Enoch Yiu Enoch Yiu Shares of HSBC dropped more than 5 per cent on Tuesday even as Hong Kong’s biggest lender reported a 32 per cent rise in third quarter pre-tax profits and announced a new round of share buy-backs worth US$1 billion. The bank said its third quarter pre-tax profit increased to US$9.6 billion, in-line with US$9.7 billion estimated by analysts, compared with US$7.3 billion a year earlier. The buy-back amount for the third quarter was in line with analysts’ estimates. The bank will also pay a... https://www.scmp.com/business/companies/article/3372244/hsbc-reports-32-increase-third-quarter-pre-tax-profits-announces-us1b-share-buy-back https://www.scmp.com/business/companies/article/3372244/hsbc-reports-32-increase-third-quarter-pre-tax-profits-announces-us1b-share-buy-back Tue, 27 Oct 2026 04:27:29 +0000 Enoch Yiu Enoch Yiu Around 280 of the world’s top bankers, including 120 group chairmen and CEOs, will gather in Hong Kong next week to learn how the city has been rethinking its playbook as it moves forward, Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue Wai-man said on Monday. This year’s summit will host the biggest number of group-level executives since its inaugural forum in 2022. The financial luminaries include Morgan Stanley chairman Ted Pick, Goldman Sachs chairman David Solomon and... https://www.scmp.com/business/banking-finance/article/3372140/top-bankers-gather-hong-kong-learn-how-city-has-been-rethinking-playbook https://www.scmp.com/business/banking-finance/article/3372140/top-bankers-gather-hong-kong-learn-how-city-has-been-rethinking-playbook Mon, 26 Oct 2026 07:00:14 +0000 Enoch Yiu Enoch Yiu HSBC, the biggest lender in Hong Kong and Europe, will open a new wealth management centre in Abu Dhabi in December, as the lender has not found the conflicts in the Middle East have dampened demand for its wealth business in the region, according to a senior executive. Mohamed Al Marzooqi, CEO of HSBC in the United Arab Emirates (UAE), said the new project formed part of the lender’s largest investment in the Middle East in two decades, after the opening of a wealth management centre in Dubai... https://www.scmp.com/business/article/3371958/hsbc-open-new-wealth-centre-abu-dhabi-despite-regional-conflict https://www.scmp.com/business/article/3371958/hsbc-open-new-wealth-centre-abu-dhabi-despite-regional-conflict Sat, 24 Oct 2026 06:00:21 +0000 Enoch Yiu Enoch Yiu Former HSBC Holdings global insurance head Edward Moncreiffe will join rival AIA Group as regional CEO from November 2, following a path taken by former HSBC Group chairman Mark Tucker, who returned to the Asia-Pacific region’s largest insurer as non-executive chairman last year. Moncreiffe will oversee AIA’s businesses in India, Sri Lanka, Australia and New Zealand, while serving on the group’s executive committee, according to a company statement issued on Friday. He will report to group CEO... https://www.scmp.com/business/banking-finance/article/3371907/former-hsbc-insurance-veteran-edward-moncreiffe-joins-aia-latest-senior-talent-move https://www.scmp.com/business/banking-finance/article/3371907/former-hsbc-insurance-veteran-edward-moncreiffe-joins-aia-latest-senior-talent-move Fri, 23 Oct 2026 09:00:10 +0000 Enoch Yiu Enoch Yiu US bank Citigroup has received approval to set up a wholly foreign-owned securities firm in mainland China, allowing the lender to pursue more opportunities in one of the world’s largest capital markets. The long-awaited green light was given by the China Securities Regulatory Commission (CSRC) on Friday, and ahead of an expected meeting between President Xi Jinping and US President Donald Trump on the sidelines of the Asia-Pacific Economic Cooperation (Apec) summit in Shenzhen next month. The... https://www.scmp.com/business/markets/article/3371911/citigroup-gets-beijings-approval-wholly-owned-securities-firm-china https://www.scmp.com/business/markets/article/3371911/citigroup-gets-beijings-approval-wholly-owned-securities-firm-china Fri, 23 Oct 2026 08:23:55 +0000 Enoch Yiu,Christina Zhao Enoch Yiu,Christina Zhao Life insurance sales in Hong Kong rose 58 per cent in the first half of this year to another record high as affluent mainland and overseas customers continued to buy policies in the city for wealth transfer, protection and medical needs. It was the fourth consecutive year in which first half sales hit a record high. The industry wrote HK$275.16 billion (US$35.3 billion) worth of new life insurance policies in the first half, compared with HK$173.7 billion a year earlier, according to data from... https://www.scmp.com/business/money/investment-products/article/3371909/hong-kong-life-insurance-sales-58-first-half-tax-crackdown-threatens-momentum https://www.scmp.com/business/money/investment-products/article/3371909/hong-kong-life-insurance-sales-58-first-half-tax-crackdown-threatens-momentum Fri, 23 Oct 2026 08:16:11 +0000 Enoch Yiu Enoch Yiu Asia-Pacific Economic Cooperation (Apec) finance chiefs reached a consensus on economic policy coordination and cooperation on financing technology and artificial intelligence at a landmark two-day gathering in Hong Kong, according to China’s finance minister. Lan Foan said the outcomes achieved during the Apec Finance Ministers’ Meeting would help shape discussions at the leaders’ summit in Shenzhen next month. “China will work with all member economies to implement the important consensus... https://www.scmp.com/business/article/3371628/apec-finance-ministers-reach-consensus-ai-digital-financing-hong-kong https://www.scmp.com/business/article/3371628/apec-finance-ministers-reach-consensus-ai-digital-financing-hong-kong Wed, 21 Oct 2026 08:00:31 +0000 Enoch Yiu Enoch Yiu The Hong Kong Monetary Authority (HKMA) will reshuffle the roles of two deputy chief executives next month as part of the de facto central bank’s succession planning strategy, two sources with knowledge of the matter told the South China Morning Post. Darryl Chan Wai-man will take over as CEO of HKMA’s Exchange Fund Investment Office from November 9, where he will manage the HK$4.46 trillion (US$568 billion) Exchange Fund – the war chest used to defend Hong Kong’s local currency, according to... https://www.scmp.com/business/banking-finance/article/3371524/hkma-swap-jobs-2-deputy-heads-part-succession-planning-sources https://www.scmp.com/business/banking-finance/article/3371524/hkma-swap-jobs-2-deputy-heads-part-succession-planning-sources Tue, 20 Oct 2026 10:25:36 +0000 Enoch Yiu Enoch Yiu Hong Kong Exchanges and Clearing said it had delayed a plan to shorten the settlement time for share transactions to the second half of 2028, so it could address widespread industry requests for more preparation time. Confirming a report by the South China Morning Post on Wednesday, the exchange said in a statement on Friday that it would not proceed with the timeline it proposed in a consultation paper in April, aiming to implement a so-called T+1 system in the fourth quarter of 2027, replacing... https://www.scmp.com/business/markets/article/3371176/hkex-pushes-back-t1-trade-settlement-2028-after-brokers-request-more-prep-time https://www.scmp.com/business/markets/article/3371176/hkex-pushes-back-t1-trade-settlement-2028-after-brokers-request-more-prep-time Fri, 16 Oct 2026 10:19:32 +0000 Enoch Yiu Enoch Yiu HSBC, Hong Kong’s biggest lender, said on Thursday it would double its artificial intelligence specialist team in the city to 300, a figure much larger than the workforce planned for its recently announced AI centre in Singapore. The announcement comes after Hong Kong’s regulators were reported to have raised concerns about the Singapore hub. The bank would double its AI specialist headcount in Hong Kong from 150 to 300 over the next two to three years, said David Liao Yi-chien, HSBC co-CEO for... https://www.scmp.com/business/banking-finance/article/3370997/hsbc-double-hong-kong-ai-team-300-outpacing-singapore-plan https://www.scmp.com/business/banking-finance/article/3370997/hsbc-double-hong-kong-ai-team-300-outpacing-singapore-plan Thu, 15 Oct 2026 08:37:19 +0000 Enoch Yiu Enoch Yiu HSBC has launched a discretionary portfolio management service for retail investors with a minimum investment threshold as low as HK$1,000 (US$128) per month, as Hong Kong’s largest lender aims to attract younger, tech-savvy customers. The new service, “Portfolio+”, allows HSBC’s retail banking customers in Hong Kong to build a discretionary investment portfolio via the company’s mobile apps with a lump sum of at least HK$10,000 or regular contributions of HK$1,000 per month, according to Winnie... https://www.scmp.com/business/banking-finance/article/3370939/hsbc-launches-discretionary-portfolio-management-service-retail-investors https://www.scmp.com/business/banking-finance/article/3370939/hsbc-launches-discretionary-portfolio-management-service-retail-investors Thu, 15 Oct 2026 03:00:08 +0000 Enoch Yiu,Zoe SL Chan Enoch Yiu,Zoe SL Chan Participants in Hong Kong’s stock market may need to wait longer for shorter transaction settlement times, as market participants want more time to prepare for the change, according to two sources familiar with the matter. Bourse operator Hong Kong Exchanges and Clearing (HKEX) said in a consultation paper in April that it aimed to implement a so-called T+1 system – under which trades would be settled one day after transactions – in the fourth quarter of 2027, replacing the existing T+2... https://www.scmp.com/business/markets/article/3370813/no-rush-t1-hong-kong-exchange-wont-hurry-settlement-time-change-sources-say https://www.scmp.com/business/markets/article/3370813/no-rush-t1-hong-kong-exchange-wont-hurry-settlement-time-change-sources-say Wed, 14 Oct 2026 06:00:07 +0000 Enoch Yiu Enoch Yiu Hong Kong Exchanges and Clearing (HKEX) has completed the first cross-border trading of green products under two separate pilot programmes with exchanges in Guangzhou and Shenzhen, according to an executive. The exchange’s Core Climate platform has enabled 15 companies, including Airport Authority, China Power International Development, Bank of China (Hong Kong) and others, to purchase Green Electricity Certificates (GECs) through the Guangzhou Power Exchange Centre with a total volume of about... https://www.scmp.com/business/climate-and-energy/article/3370720/hong-kong-completes-pilot-schemes-trade-green-products-exchanges-mainland-china https://www.scmp.com/business/climate-and-energy/article/3370720/hong-kong-completes-pilot-schemes-trade-green-products-exchanges-mainland-china Tue, 13 Oct 2026 23:00:07 +0000 Zoe SL Chan,Enoch Yiu Zoe SL Chan,Enoch Yiu Hong Kong’s securities watchdog has moved against two syndicates suspected of being involved in three alleged initial public offering fraud schemes involving assets worth HK$4.6 billion (US$590 million), according to a statement released on Tuesday. The Securities and Futures Commission (SFC) also announced on the same day that it had suspended 65 listing applications in the first nine months of this year due to the poor quality of their listing sponsors’ work, in what analysts viewed as an... https://www.scmp.com/business/banking-finance/article/3370697/hong-kong-watchdog-orders-suspension-third-stock-month https://www.scmp.com/business/banking-finance/article/3370697/hong-kong-watchdog-orders-suspension-third-stock-month Tue, 13 Oct 2026 07:00:10 +0000 Enoch Yiu Enoch Yiu Hong Kong would need to ease its listing rules and transaction requirements to attract more angel funds and become a hub for start-ups to go global, according to a leading industry body in the city. The city has only around 100 active angel funds – private investment vehicles targeting very early-stage innovative enterprises. This was far fewer than Shenzhen, which had about 400 such institutions, according to Samson Tam Wai-ho, honorary chairman of the Hong Kong Electronic Industries... https://www.scmp.com/business/banking-finance/article/3370419/hong-kong-must-ease-listing-rules-attract-more-angel-funds-and-start-ups-hkeia https://www.scmp.com/business/banking-finance/article/3370419/hong-kong-must-ease-listing-rules-attract-more-angel-funds-and-start-ups-hkeia Mon, 12 Oct 2026 00:00:16 +0000 Enoch Yiu Enoch Yiu A US lawmaker’s call for a review of Hong Kong’s access to a Federal Reserve facility that provides short-term US dollar funding would have limited impact on the city as it is not a regular source of financing, according to analysts, who said any restriction could instead weaken the US dollar’s global dominance. John Moolenaar, chairman of the House Select Committee on China, has written to US Federal Reserve chairman Kevin Warsh urging a review of the Hong Kong Monetary Authority’s (HKMA)... https://www.scmp.com/business/banking-finance/article/3370283/hong-kong-faces-limited-impact-if-fed-curbs-access-us-dollar-funding-facility-analysts https://www.scmp.com/business/banking-finance/article/3370283/hong-kong-faces-limited-impact-if-fed-curbs-access-us-dollar-funding-facility-analysts Fri, 09 Oct 2026 05:08:34 +0000 Enoch Yiu Enoch Yiu As Hong Kong and Singapore compete for leadership in businesses ranging from foreign exchange trading to wealth management, the battleground has extended to artificial intelligence, with both cities vying to attract investment from HSBC Holdings and other major corporations, according to industry players. The issue came into focus after the Hong Kong Monetary Authority (HKMA) questioned HSBC about its decision to set up an AI centre in Singapore, despite Hong Kong being its single largest... https://www.scmp.com/business/banking-finance/article/3370203/amid-battle-ai-edge-hong-kong-presses-hsbc-over-singapore-hub-decision-sources https://www.scmp.com/business/banking-finance/article/3370203/amid-battle-ai-edge-hong-kong-presses-hsbc-over-singapore-hub-decision-sources Thu, 08 Oct 2026 12:00:11 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Mandatory Provident Fund (MPF) recorded a loss in September but still made overall gains of nearly HK$100 billion (US$12.8 billion) over the first nine months of the year, according to data from MPF Ratings released on Wednesday. The 382 investment funds under the MPF schemes delivered a 6.2 per cent average return in the first nine months, despite losing 1.47 per cent in September, the consultancy found. In monetary terms, they earned HK$96.9 billion over the first three quarters... https://www.scmp.com/business/money/investment-products/article/3369945/hong-kongs-mpf-has-gained-nearly-hk100b-year-despite-september-loss-report https://www.scmp.com/business/money/investment-products/article/3369945/hong-kongs-mpf-has-gained-nearly-hk100b-year-despite-september-loss-report Wed, 07 Oct 2026 01:00:13 +0000 Enoch Yiu Enoch Yiu Banking apps from Mox Bank, Bank of China (Hong Kong) (BOCHK), ZA Bank and Citibank Hong Kong are among the top 10 in Asia-Pacific, according to a study exclusively previewed by the South China Morning Post. Sia, an international consulting firm, assessed 145 banking apps in 20 markets in Europe, Asia and Australia using 100 criteria, including functionality, user experience and feedback, with each receiving a score from 0 to 100. The app from digital lender Mox Bank – backed by Standard... https://www.scmp.com/business/banking-finance/article/3369900/mox-bochk-za-bank-and-citibank-apps-land-among-asia-pacifics-10-best-study-says https://www.scmp.com/business/banking-finance/article/3369900/mox-bochk-za-bank-and-citibank-apps-land-among-asia-pacifics-10-best-study-says Tue, 06 Oct 2026 08:00:11 +0000 Enoch Yiu Enoch Yiu Hong Kong Monetary Authority (HKMA) has granted a banking licence to Bakai Bank, marking the first Central Asian bank to set up in Hong Kong amid closer ties in the economy and trade flows between China and the region, according to a statement on Monday. Bakai Bank, one of the largest lenders in Kyrgyzstan, will operate as a restricted licence bank in Hong Kong. It will be the 17th restricted licence bank in Hong Kong. Under the licence, it can take deposits of at least HK$500,000 (US$63,776)... https://www.scmp.com/business/banking-finance/article/3365704/hkma-licenses-bakai-bank-citys-first-central-asia https://www.scmp.com/business/banking-finance/article/3365704/hkma-licenses-bakai-bank-citys-first-central-asia Mon, 05 Oct 2026 09:42:58 +0000 Enoch Yiu Enoch Yiu Hong Kong lawmakers have backed the government’s proposed tax incentives for large innovative companies, but many said on Monday that the planned five-year concession period is too short to attract major firms to establish headquarters or expand operations in the city. Chief Executive John Lee Ka-chiu in his policy address last month said the government planned to submit a bill introducing preferential profits tax rates of either 5 per cent or 8.25 per cent, which was half of the city’s standard... https://www.scmp.com/business/companies/article/3369781/hong-kong-lawmakers-say-5-year-tax-incentive-too-short-entice-major-innovative-firms https://www.scmp.com/business/companies/article/3369781/hong-kong-lawmakers-say-5-year-tax-incentive-too-short-entice-major-innovative-firms Mon, 05 Oct 2026 08:00:08 +0000 Enoch Yiu Enoch Yiu UK fund house Schroders will increase investment and headcount in Hong Kong after being acquired by US asset manager Nuveen, according to Schroders’ global CEO. “Hong Kong is a critical interface for mainland China through schemes like Wealth Management Connect,” Richard Oldfield said in an online interview with the South China Morning Post on Friday. The scheme, launched in 2021, allows investors in the Greater Bay Area to buy wealth-management products across borders. Underpinning Schroders’... https://www.scmp.com/business/banking-finance/article/3369699/asset-manager-schroders-expand-hong-kong-after-merger-nuveen-ceo-says https://www.scmp.com/business/banking-finance/article/3369699/asset-manager-schroders-expand-hong-kong-after-merger-nuveen-ceo-says Mon, 05 Oct 2026 03:00:06 +0000 Enoch Yiu,Themis Qi Enoch Yiu,Themis Qi Hong Kong commercial banks continue to offer incentives to attract mainland visitors during the first golden week after Beijing tightened cross-border investment rules and enforced the collection of a 20 per cent levy on overseas investment or insurance gains. HSBC would offer up to HK$88,000 (US$11,215) for new high-end clients, as well as experiences including a National Day fireworks dinner and tickets to the China Open tennis tournament in Beijing or a K-pop concert, according to the bank’s... https://www.scmp.com/business/banking-finance/article/3369382/hong-kong-banks-set-golden-week-lures-mainland-chinese-visitors-despite-new-levies https://www.scmp.com/business/banking-finance/article/3369382/hong-kong-banks-set-golden-week-lures-mainland-chinese-visitors-despite-new-levies Wed, 30 Sep 2026 15:39:25 +0000 Zoe SL Chan,Enoch Yiu Zoe SL Chan,Enoch Yiu Funds raised through Hong Kong initial public offerings (IPOs) doubled in the first nine months of 2026, reaching the highest level for the period since records began in 1980. A total of 112 companies raised US$48.4 billion on Hong Kong’s main board during the first nine months, according to data released by LSEG Data & Analytics on Wednesday. A further two companies listed on the city’s Growth Enterprise Market (GEM). By deal count, the combined total of 114 new listings on the main board and... https://www.scmp.com/business/banking-finance/article/3369316/hong-kongs-ipo-haul-first-9-months-smashes-record-despite-nasdaqs-fundraising-lead https://www.scmp.com/business/banking-finance/article/3369316/hong-kongs-ipo-haul-first-9-months-smashes-record-despite-nasdaqs-fundraising-lead Wed, 30 Sep 2026 08:00:27 +0000 Enoch Yiu Enoch Yiu HSBC on Wednesday named its stablecoin offering HSBC RedCoin, paving the way for Hong Kong’s biggest lender to make the coin available to the more than 3.3 million users of its PayMe app for money transfers, shopping and dining. When launched before the end of the year, the stablecoin would be offered only through PayMe and HSBC’s Hong Kong mobile banking app, HSBC said. The bank said it was optimistic about retail usage of HSBC RedCoin, as 74 per cent of respondents to a survey of more than... https://www.scmp.com/business/banking-finance/article/3369284/hsbc-unveils-redcoin-name-its-hong-kong-stablecoin-33-million-payme-users https://www.scmp.com/business/banking-finance/article/3369284/hsbc-unveils-redcoin-name-its-hong-kong-stablecoin-33-million-payme-users Wed, 30 Sep 2026 04:18:24 +0000 Enoch Yiu Enoch Yiu Hong Kong has seen strong growth in private wealth assets, but the industry has not yet seen the same scale of hiring, as private banks and wealth management companies have adopted technology including AI to serve customers, according to consulting firm Capco. “When assets under management by private banks are growing rapidly, the relationship managers are not increasing at the same rate as the use of technology and AI are enhancing the productivity of the team,” Simon Smallcombe, Capco’s... https://www.scmp.com/business/banking-finance/article/3369160/ai-uptake-sees-wealth-management-headcounts-hong-kong-trail-growth-assets https://www.scmp.com/business/banking-finance/article/3369160/ai-uptake-sees-wealth-management-headcounts-hong-kong-trail-growth-assets Tue, 29 Sep 2026 23:00:09 +0000 Enoch Yiu Enoch Yiu New York may be known as the city that never sleeps, but many Hongkongers like to take care of banking transactions at 2am – a truth that helps explain why 40 per cent of physical branches have disappeared in recent years, according to local bank executives. While the number of Hong Kong licensed banks had remained stable around 150 for many years, the number of bank branches had dropped 40 per cent to about 900 from 1,500 in recent years, said Sunny Cheung, CEO of Shanghai Commercial Bank. “[In... https://www.scmp.com/business/banking-finance/article/3368820/why-hong-kong-banks-have-shut-down-40-branches-recent-years https://www.scmp.com/business/banking-finance/article/3368820/why-hong-kong-banks-have-shut-down-40-branches-recent-years Fri, 25 Sep 2026 10:01:50 +0000 Zoe SL Chan,Enoch Yiu Zoe SL Chan,Enoch Yiu After Morgan Stanley’s leak of internal deal information in a client email, rival investment banks in Hong Kong are aggressively moving to poach clients dissatisfied with the breach, according to several people familiar with the matter. Competitors are actively approaching companies named in the leaked document to pitch for their business, two rival bankers said, asking not to be identified due to the sensitivity of the issue. An accidental disclosure of confidential information by a Morgan... https://www.scmp.com/business/banking-finance/article/3368751/morgan-stanley-deal-leak-triggers-rival-poaching-security-warnings-hong-kong-banks https://www.scmp.com/business/banking-finance/article/3368751/morgan-stanley-deal-leak-triggers-rival-poaching-security-warnings-hong-kong-banks Fri, 25 Sep 2026 04:34:51 +0000 Enoch Yiu Enoch Yiu The inadvertent disclosure of confidential information by a Morgan Stanley employee this week alarmed Hong Kong’s banking industry, listed issuers and regulators, according to several sources familiar with the matter. An email sent by the Hong Kong-based employee on Tuesday afternoon included an attached file with details on more than 100 deals in the pipeline, including initial public offerings (IPOs), private equity arrangements, pension fund positions and other projects in Greater China,... https://www.scmp.com/business/banking-finance/article/3368599/morgan-stanley-fat-finger-leak-confidential-deal-pipeline-sets-alarm-bells https://www.scmp.com/business/banking-finance/article/3368599/morgan-stanley-fat-finger-leak-confidential-deal-pipeline-sets-alarm-bells Thu, 24 Sep 2026 04:33:57 +0000 Enoch Yiu Enoch Yiu Bourse operator Hong Kong Exchanges and Clearing (HKEX) will launch yuan-denominated gold futures early next year, while the city’s de facto central bank plans to introduce more yuan products and platforms to support the diversification and digitalisation of the currency’s internationalisation, speakers at a banking summit said on Wednesday. “We have recently reactivated our gold contract in the US dollar. But in the future, perhaps sometime early next year, we will be coming up with a... https://www.scmp.com/business/banking-finance/article/3368483/hong-kong-unveils-gold-bond-and-liquidity-plans-drive-next-phase-yuan-adoption https://www.scmp.com/business/banking-finance/article/3368483/hong-kong-unveils-gold-bond-and-liquidity-plans-drive-next-phase-yuan-adoption Wed, 23 Sep 2026 09:00:25 +0000 Enoch Yiu Enoch Yiu Beijing and Hong Kong are laying the groundwork for a new phase of offshore yuan development and other goals after the city unveiled its first five-year plan, with banking and securities regulators set to provide more details on Wednesday. The city’s market regulator, the Securities and Futures Commission (SFC), would outline further details of the blueprint, chairman Kelvin Wong Tin-yau said on Monday. Hong Kong Monetary Authority chief executive Eddie Yue Wai-man is also expected to elaborate... https://www.scmp.com/business/banking-finance/article/3368367/hong-kong-regulators-flesh-out-new-yuan-strategy-after-beijing-meetings https://www.scmp.com/business/banking-finance/article/3368367/hong-kong-regulators-flesh-out-new-yuan-strategy-after-beijing-meetings Tue, 22 Sep 2026 09:30:07 +0000 Enoch Yiu Enoch Yiu The Hong Kong stock exchange has proposed easing requirements for listed companies to disclose corporate transactions and seek shareholder approval, while also making it easier for issuers to spin off businesses, according to a consultation paper released on Monday. The 10-week consultation, which runs until November 30, proposes removing the profit test currently used to determine whether a transaction requires disclosure or shareholder approval. Companies would instead use market... https://www.scmp.com/business/article/3368279/hong-kong-stock-exchange-moves-ease-spin-offs-and-shareholder-approval-rules https://www.scmp.com/business/article/3368279/hong-kong-stock-exchange-moves-ease-spin-offs-and-shareholder-approval-rules Mon, 21 Sep 2026 11:50:38 +0000 Enoch Yiu Enoch Yiu Senior bankers at HSBC are facing a double blow of losing a key employment benefit while also confronting potential job losses as the lender carries out a range of measures to cut costs and achieve fair treatment for all staff, according to sources. HSBC, the biggest lender in Hong Kong, will scrap an education subsidy programme for all newly hired or newly promoted senior executives from Friday, according to an internal memo seen by the South China Morning Post. Employees who were already in... https://www.scmp.com/business/banking-finance/article/3367976/senior-hsbc-bankers-face-double-blow-school-fee-subsidy-cut-adds-job-risks-sources https://www.scmp.com/business/banking-finance/article/3367976/senior-hsbc-bankers-face-double-blow-school-fee-subsidy-cut-adds-job-risks-sources Fri, 18 Sep 2026 06:51:50 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Exchange Fund, the war chest used to defend the local currency, is considering increasing its exposure to gold and other precious metals as part of the government’s push to develop the city into a gold trading hub. Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue Wai-man said on Thursday that the Exchange Fund would continue to invest mainly in US dollar assets to support the Hong Kong dollar’s peg with the US currency. Yue said the Exchange Fund could increase its... https://www.scmp.com/business/banking-finance/article/3367814/exchange-fund-weighs-bigger-gold-holdings-support-hong-kongs-trading-hub-plan https://www.scmp.com/business/banking-finance/article/3367814/exchange-fund-weighs-bigger-gold-holdings-support-hong-kongs-trading-hub-plan Thu, 17 Sep 2026 06:00:14 +0000 Enoch Yiu Enoch Yiu The Hong Kong dollar may come under pressure against the US dollar after the first interest rate rise in three years, but the city does not face a heightened bad-debt risk despite higher borrowing costs, according to the head of the city’s de facto central bank. Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue Wai-man said the US Federal Reserve’s rate rise on Thursday would widen the gap between the market interest rates of the US dollar and the Hong Kong dollar, encouraging more... https://www.scmp.com/business/banking-finance/article/3367783/hkma-raises-base-rate-quarter-point-425-first-increase-2023 https://www.scmp.com/business/banking-finance/article/3367783/hkma-raises-base-rate-quarter-point-425-first-increase-2023 Wed, 16 Sep 2026 23:03:43 +0000 Enoch Yiu Enoch Yiu Hong Kong’s stock market is facing renewed pressure to accelerate its review of longer trading hours after South Korea’s main bourse extended its session by four hours on Monday, according to an industry player. The Korea Exchange, South Korea’s bourse operator, launched a real-time after-market from 4pm to 8pm in addition to regular trading from 9am to 3.30pm. It also signalled ambitions to expand to nearly 24-hour trading, following similar plans by Nasdaq and the London Stock Exchange. The... https://www.scmp.com/business/banking-finance/article/3367433/hong-kong-faces-pressure-speed-trading-hours-review-after-south-koreas-move https://www.scmp.com/business/banking-finance/article/3367433/hong-kong-faces-pressure-speed-trading-hours-review-after-south-koreas-move Mon, 14 Sep 2026 08:08:24 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Securities and Futures Commission (SFC) has directed the stock exchange to suspend trading of US-based biotech firm Cloudbreak Pharma pending an investigation into its US$78 million initial public offering (IPO) last year. “The SFC has serious concerns that Cloudbreak’s initial public offering may have been rigged to create an artificial impression of demand for Cloudbreak’s shares,” the SFC said in a statement on Thursday. The regulator considered the suspension “necessary or... https://www.scmp.com/business/banking-finance/article/3367064/hong-kong-watchdog-investigates-cloudbreak-pharma-rigged-ipo-suspends-its-shares https://www.scmp.com/business/banking-finance/article/3367064/hong-kong-watchdog-investigates-cloudbreak-pharma-rigged-ipo-suspends-its-shares Thu, 10 Sep 2026 10:08:13 +0000 Enoch Yiu Enoch Yiu Several Hong Kong insurance companies, including Prudential, Manulife and BOC Life, are racing into cross-sector alliances from artificial intelligence underwriting to healthcare tie-ups to strengthen capabilities and efficiency amid China’s tightened cross-border tax rules. Prudential announced a partnership with Alibaba Cloud to launch an AI underwriter, designed to help financial consultants make preliminary decisions based on a client’s financial situation, medical record, occupation and... https://www.scmp.com/business/banking-finance/article/3366902/insurers-prudential-manulife-seal-tech-alliances-amid-beijings-tightened-tax-rules https://www.scmp.com/business/banking-finance/article/3366902/insurers-prudential-manulife-seal-tech-alliances-amid-beijings-tightened-tax-rules Wed, 09 Sep 2026 08:30:06 +0000 Enoch Yiu Enoch Yiu Hong Kong should consider allowing the Mandatory Provident Fund to invest in more asset classes, and lure more long-term patient mainland capital, such as pension funds, to invest globally through the city, the Financial Services Development Council (FSDC) said in a report on Tuesday. The MPF, the city’s compulsory retirement scheme, now has total assets of HK$1.67 trillion (US$213 billion) and invests in stocks, bonds and deposits. The FSDC suggests allowing a portion of the funds to be... https://www.scmp.com/business/banking-finance/article/3366722/expand-hong-kongs-mpf-investment-choices-lure-mainland-pension-funds-financial-council https://www.scmp.com/business/banking-finance/article/3366722/expand-hong-kongs-mpf-investment-choices-lure-mainland-pension-funds-financial-council Tue, 08 Sep 2026 06:30:08 +0000 Enoch Yiu Enoch Yiu HSBC has teamed up with partners to launch a non-profit platform to help emerging markets in upgrading their technology and shifting from oil and coal to renewable energy, according to a senior executive at the lender. The Green Accelerator Programme, rolled out on Monday with backing from HSBC, the Asian Infrastructure Investment Bank, the Silk Road Fund and others, will channel private capital into feasibility studies and due diligence for emerging-market companies and governments adopting... https://www.scmp.com/business/banking-finance/article/3366545/hsbc-backed-platform-drives-green-transition-capital-emerging-markets-amid-global-risks https://www.scmp.com/business/banking-finance/article/3366545/hsbc-backed-platform-drives-green-transition-capital-emerging-markets-amid-global-risks Mon, 07 Sep 2026 04:00:14 +0000 Enoch Yiu Enoch Yiu Standard Chartered plans to increase its investment in wealth centres and hiring in Hong Kong, mainland China and Taiwan to gain more affluent clients, a senior executive said, adding that it doubts Beijing’s stricter enforcement of taxes on cross-border investment will hurt the wealth-management sector. “We are doubling down on Greater China wealth opportunity,” Judy Hsu Chung-wei, its CEO for wealth and retail banking, told a media briefing last week. “Greater China – Hong Kong, mainland China... https://www.scmp.com/business/china-business/article/3366390/standard-chartered-doubling-down-china-wealth-opportunities-despite-tax-pivot https://www.scmp.com/business/china-business/article/3366390/standard-chartered-doubling-down-china-wealth-opportunities-despite-tax-pivot Mon, 07 Sep 2026 00:00:16 +0000 Enoch Yiu Enoch Yiu The latest round of the Hong Kong government’s Silver Bonds programme has attracted a record number of subscriptions in terms of both quantity and value, as the city’s elderly investors seize the opportunity to secure better returns than those offered by bank deposits. Investors submitted 478,000 bids for HK$119.8 billion (US$15.28 billion) worth of bonds during the offering period, which ended at 2pm on Friday, according to a government spokesman. That represented a 22 per cent rise in terms of... https://www.scmp.com/business/banking-finance/article/3366431/hong-kongs-silver-bonds-draw-record-480000-bids-higher-interest-rate https://www.scmp.com/business/banking-finance/article/3366431/hong-kongs-silver-bonds-draw-record-480000-bids-higher-interest-rate Fri, 04 Sep 2026 12:26:50 +0000 Enoch Yiu Enoch Yiu US financial institutions Citigroup and Invesco have separately announced that they would continue to expand their presence in Asia, even as the financial industry faces geopolitical uncertainties and Beijing tightens its control on overseas investment. Citi would boost the headcount of its north Asia and Japan corporate banking desk network by 25 per cent following double-digit growth in client activities, it said in a statement on Tuesday. The US lender would also expand its China desk network... https://www.scmp.com/business/banking-finance/article/3365945/citigroup-boosts-headcount-25-north-asia-desk-invesco-has-new-asia-pacific-head https://www.scmp.com/business/banking-finance/article/3365945/citigroup-boosts-headcount-25-north-asia-desk-invesco-has-new-asia-pacific-head Tue, 01 Sep 2026 06:36:25 +0000 Enoch Yiu,Zoe SL Chan Enoch Yiu,Zoe SL Chan Beijing’s recent curbs on cross-border investment and a tax shift targeting overseas insurance gains may create short-term uncertainty, but they will not undermine Hong Kong’s long-term competitiveness as a major wealth management hub, according to a senior executive at JPMorgan Chase. Kwang Kam-shing, Hong Kong CEO and chairwoman of North Asia at the biggest bank by assets in the United States, said she remained optimistic about the long-term outlook for Asia’s financial sector, citing... https://www.scmp.com/business/banking-finance/article/3365613/hong-kongs-long-term-wealth-hub-status-safe-mainland-investment-curbs-jpmorgan-exec https://www.scmp.com/business/banking-finance/article/3365613/hong-kongs-long-term-wealth-hub-status-safe-mainland-investment-curbs-jpmorgan-exec Sat, 29 Aug 2026 02:00:20 +0000 Enoch Yiu Enoch Yiu Bourse operator Hong Kong Exchanges and Clearing (HKEX) is exploring merging the GEM board with its main board by creating a new chapter of its listing rules, according to a source familiar with the discussions. The proposal to create Chapter 18D, which would be a core part of the second phase of the review of the listing regime, would be subject to a public consultation by the end of the year, the source told the South China Morning Post. Merging it with the main board was an option to reboot... https://www.scmp.com/business/markets/article/3365437/hong-kong-exchanges-and-clearing-explores-merging-gem-main-board-source-says https://www.scmp.com/business/markets/article/3365437/hong-kong-exchanges-and-clearing-explores-merging-gem-main-board-source-says Thu, 27 Aug 2026 07:22:03 +0000