https://www.scmp.com/rss/519505/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Maria Siow Maria Siow The decision to keep details of a recent US review into the Aukus defence pact under wraps is seen as a deliberate move to shield the three-nation submarine deal from any doubts over its viability that could undermine political or public backing, analysts say. The Pentagon announced last Thursday it had completed its assessment of the programme and identified ways to place it on the “strongest possible footing”, citing US President Donald Trump’s push to drive the arrangement “full steam... https://www.scmp.com/week-asia/politics/article/3336198/why-us-review-aukus-submarine-deal-australia-kept-secret?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3336198/why-us-review-aukus-submarine-deal-australia-kept-secret?utm_source=rss_feed Fri, 12 Dec 2025 07:34:43 +0000 dpa dpa A British backpacker has been sentenced to four years in prison after a fatal collision with a father-of-two while riding an electric scooter in Australia. Alicia Kemp, 25, from Redditch, Worcestershire, appeared at Perth District Court, Western Australia, on Friday, where she was sentenced after pleading guilty to dangerous driving causing death while under the influence of alcohol. Judge Wendy Hughes handed Kemp a four-year prison term, backdated to June 2025 for time served, with a non-parole... https://www.scmp.com/news/asia/australasia/article/3336194/uk-woman-jailed-after-drunk-e-scooter-crash-killed-beloved-father-australia?utm_source=rss_feed https://www.scmp.com/news/asia/australasia/article/3336194/uk-woman-jailed-after-drunk-e-scooter-crash-killed-beloved-father-australia?utm_source=rss_feed Fri, 12 Dec 2025 07:04:27 +0000 Maria Siow Maria Siow A sweeping review by the United States of the landmark Aukus submarine pact could usher in stricter conditions on technology transfers, cost-sharing and fresh concessions from Australia, raising questions about the future of the trilateral deal. US Secretary of State Marco Rubio had privately assured Australian Deputy Prime Minister Richard Marles that the pact would not be terminated, The Washington Post reported earlier this month, citing sources familiar with the discussions. The Aukus... https://www.scmp.com/week-asia/economics/article/3326159/aukus-faces-america-first-review-will-trumps-agenda-scupper-deal?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3326159/aukus-faces-america-first-review-will-trumps-agenda-scupper-deal?utm_source=rss_feed Sun, 21 Sep 2025 00:00:09 +0000 Zhao Ziwen Zhao Ziwen When Mary Wang, a 27-year-old Chinese woman living in the West Australian capital of Perth, heard that thousands of anti-immigration protesters would be marching across the country late last month, she immediately cancelled plans to leave the house. Wang, who works in IT, was planning to continue her volunteer work teaching the elderly how to use smartphones, but the disturbing rallies gave her pause. “I just feel insecure,” Wang said. “I’m already in an environment I didn’t grow up in, and I... https://www.scmp.com/news/china/diplomacy/article/3325127/i-feel-insecure-chinese-nationals-australia-blindsided-anti-immigration-marches?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3325127/i-feel-insecure-chinese-nationals-australia-blindsided-anti-immigration-marches?utm_source=rss_feed Sat, 13 Sep 2025 04:03:48 +0000 Agence France-Presse Agence France-Presse Lost German backpacker Carolina Wilga was found alive but “ravaged by mosquitoes” on Friday, 12 days after going missing in remote bushland in Western Australia. A member of the public found the 26-year-old on a bush track at the edge of a nature reserve, and she has been taken to hospital in Perth for treatment, police said. “She’s been ravaged by mosquitoes. She’s obviously been through an amazing journey, a trauma, and no doubt will be a testimony demonstrating her bravery in the... https://www.scmp.com/news/asia/australasia/article/3317929/australia-german-backpacker-found-after-12-days-missing?utm_source=rss_feed https://www.scmp.com/news/asia/australasia/article/3317929/australia-german-backpacker-found-after-12-days-missing?utm_source=rss_feed Fri, 11 Jul 2025 12:50:38 +0000 Justin Bieber has struck up an unlikely friendship amid growing concerns for his mental health and rumours of marital woes. Congratulating golfer Min Woo Lee for landing his first PGA Tour title last weekend, Bieber shared a screenshot of him and Lee on FaceTime after the win at the Houston Open. “Congrats @minwoo27lee,” Bieber captioned his story. Lee reposted it on his own Instagram account, sharing the interaction with the caption “J frickin B”. The Sorry singer has been worrying fans... https://www.scmp.com/magazines/style/entertainment/article/3305096/who-min-woo-lee-rising-golf-star-facetime-justin-bieber-gen-z-humour-becoming-games-first-cult-hero?utm_source=rss_feed https://www.scmp.com/magazines/style/entertainment/article/3305096/who-min-woo-lee-rising-golf-star-facetime-justin-bieber-gen-z-humour-becoming-games-first-cult-hero?utm_source=rss_feed Sat, 05 Apr 2025 20:00:18 +0000 US President Joe Biden’s absence from key Southeast Asian summits this week has raised concerns over Washington’s commitment to the region, though some analysts say it is a shift in strategy towards bilateral and multilateral partnerships rather than reduced engagement. Biden will be notably absent from the US-Asean summit and the East Asia summit in Laos that both begin on Friday, in his second consecutive year of absence. Vice-President Kamala Harris attended the summits last year, and... https://www.scmp.com/week-asia/politics/article/3282064/biden-skips-southeast-asia-summits-us-losing-influence-region?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3282064/biden-skips-southeast-asia-summits-us-losing-influence-region?utm_source=rss_feed Sat, 12 Oct 2024 05:30:44 +0000 A self-described Nazi will become the first person in Australia sentenced to prison for performing an outlawed Nazi salute when a magistrate sets his term next month. Magistrate Brett Sonnet told Jacob Hersant on Wednesday he will be sentenced to a “relatively modest term of imprisonment” at his next court appearance. “It will not be a severe term of imprisonment, but I have not determined the length,” Sonnet said. Sonnet initially intended for Hersant to be taken into custody on Wednesday until... https://www.scmp.com/news/asia/australasia/article/3281744/australia-jail-self-described-nazi-salute-i-regret-nothing?utm_source=rss_feed https://www.scmp.com/news/asia/australasia/article/3281744/australia-jail-self-described-nazi-salute-i-regret-nothing?utm_source=rss_feed Wed, 09 Oct 2024 13:21:03 +0000 Zhang Shidong Zhang Shidong China’s stocks fell in volatile trading after an underwhelming press conference by the country’s economic planner poured cold water on two weeks of frenzied buying, raising questions about the strength and durability of the world’s biggest market rally. The Hang Seng Index retreated 1.4 per cent to 20,637.24 in Hong Kong on Wednesday, after starting the day 1.7 per cent higher. The benchmark plunged 9.4 per cent a day earlier in its worst decline since 2008. The Hang Seng Tech Index slipped 1.2... https://www.scmp.com/business/china-business/article/3281625/chinas-stocks-head-topsy-turvy-day-hang-seng-gains-while-mainland-markets-plunge?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3281625/chinas-stocks-head-topsy-turvy-day-hang-seng-gains-while-mainland-markets-plunge?utm_source=rss_feed Wed, 09 Oct 2024 02:07:36 +0000 Jiaxing Li Jiaxing Li Hong Kong stocks soared for a sixth day in a row, hitting a 20-month high on mounting speculation China is not done with its stimulus to rescue the market. BlackRock said investors may expect more measures from Beijing to jump-start the ailing economy. The Hang Seng Index jumped 6.2 per cent on Wednesday to the highest level since January 2023, bringing the six-day cumulative gain to 23 per cent. The Tech Index surged 8.5 per cent. A gauge tracking US-listed Chinese stocks rallied 5.5 per cent... https://www.scmp.com/business/markets/article/3280741/hong-kong-stocks-surge-sixth-day-blackrock-modestly-overweight-china-shares?utm_source=rss_feed https://www.scmp.com/business/markets/article/3280741/hong-kong-stocks-surge-sixth-day-blackrock-modestly-overweight-china-shares?utm_source=rss_feed Wed, 02 Oct 2024 02:34:32 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) builder Xpeng will begin exporting its cars to Qatar as it steps up a global expansion effort amid crushing competition in the mainland China market. The Guangzhou-based company signed an agreement with distributor Pioneer Motors on September 10, taking an initial step towards tapping consumer demand for premium electric cars in the Middle Eastern nation, according to a statement. By the end of the year, drivers in Qatar will have the chance to buy several... https://www.scmp.com/business/china-business/article/3279572/chinese-ev-maker-xpeng-adds-qatar-export-list-amid-price-war-home?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3279572/chinese-ev-maker-xpeng-adds-qatar-export-list-amid-price-war-home?utm_source=rss_feed Mon, 23 Sep 2024 07:00:09 +0000 Hong Kong stocks rose, with the city’s benchmark capping its biggest weekly gain in nearly five months, taking cues from a global rally amid optimism that the US economy will achieve a soft landing. The Hang Seng Index climbed 1.4 per cent to 18,258.57 at the close. It advanced 5.1 per cent this week, delivering the best performance for a five-day period since April 26. The Hang Seng Tech Index also gained 1.4 per cent and the Shanghai Composite Index added less than 0.1 per cent. Among gainers,... https://www.scmp.com/business/china-business/article/3279232/hong-kong-stocks-head-biggest-weekly-gain-nearly-5-months?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3279232/hong-kong-stocks-head-biggest-weekly-gain-nearly-5-months?utm_source=rss_feed Fri, 20 Sep 2024 02:26:00 +0000 Eric Ng Eric Ng Yutong Bus, the world’s largest electric-bus maker, has unveiled a new technology platform that aims to boost driving ranges and cut operating costs, as it vies for a bigger slice of a growing market amid a decarbonisation push by public transport fleets worldwide. The company, based in Zhengzhou in China’s central Henan province, announced the Asia-Pacific launch of the platform on Tuesday at Australia’s biennial National Bus and Coach show in Brisbane, where it showcased four electric buses.... https://www.scmp.com/business/china-business/article/3279100/chinas-yutong-worlds-top-electric-bus-maker-touts-new-technology-exports-grow?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3279100/chinas-yutong-worlds-top-electric-bus-maker-touts-new-technology-exports-grow?utm_source=rss_feed Thu, 19 Sep 2024 07:00:08 +0000 Enoch Yiu Enoch Yiu Five of Hong Kong’s major commercial banks cut their prime rates for the first time in almost five years, after the local monetary authority followed the US Federal Reserve in kicking off a rate-cut cycle. Bank of China (Hong Kong), HSBC and its Hang Seng Bank unit will trim their prime lending rates by a quarter percentage point to 5.625 per cent, and cut their savings rate by the same margin to 0.625 per cent per annum for deposits that exceed HK$5,000 (US$640), the banks said in separate... https://www.scmp.com/business/article/3278874/hong-kong-cuts-base-rate-half-point-lockstep-us-feds-aggressive-bid-economy?utm_source=rss_feed https://www.scmp.com/business/article/3278874/hong-kong-cuts-base-rate-half-point-lockstep-us-feds-aggressive-bid-economy?utm_source=rss_feed Wed, 18 Sep 2024 23:00:59 +0000 Zhang Shidong Zhang Shidong Chinese stocks rebounded from their lowest levels in more than five years after a holiday break, as investors eagerly awaited a rate decision from the US Federal Reserve. Hong Kong’s market is closed for a public holiday and will resume trading on Thursday. The CSI 300 Index added 0.4 per cent to 3,171.01 at the close. On Friday, it closed at its lowest point since January 24, 2019. The Shanghai Composite Index gained 0.5 per cent and the Shenzhen Composite Index retreated 0.2 per cent. Mainland... https://www.scmp.com/business/china-business/article/3278947/chinas-stocks-hover-around-5-year-low-trading-resumes-after-holiday?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3278947/chinas-stocks-hover-around-5-year-low-trading-resumes-after-holiday?utm_source=rss_feed Wed, 18 Sep 2024 02:29:06 +0000 Jiaxing Li Jiaxing Li Hong Kong stocks advanced as local developers rallied ahead of an expected rate cut from the Federal Reserve, as appliance maker Midea Group surged on its trading debut. The Hang Seng Index jumped 1.4 per cent to 17,660.02 on Tuesday, the biggest single-day gain since August 16, taking the gauge to a two-week high. The Tech Index gained 1.2 per cent. Mainland markets are closed for a holiday. E-commerce giant Alibaba jumped 1 per cent to HK$82.85, food delivery platform Meituan rallied 1.7 per... https://www.scmp.com/business/markets/article/3278802/hong-kong-stocks-soar-ahead-expected-fed-rate-cut-midea-surges-debut?utm_source=rss_feed https://www.scmp.com/business/markets/article/3278802/hong-kong-stocks-soar-ahead-expected-fed-rate-cut-midea-surges-debut?utm_source=rss_feed Tue, 17 Sep 2024 02:35:31 +0000 Aileen Chuang Aileen Chuang The monetary authorities of Hong Kong and Macau will establish a direct link between their clearing, settlement, and custodian systems to promote the development of bond markets and deepen financial cooperation under the Greater Bay Area initiative. The Hong Kong Monetary Authority (HKMA) will link its Central Moneymarkets Unit (CMU) to the central securities depository unit under the Macau Central Securities Depository and Clearing for investors to clear, settle and hold bonds lodged in each... https://www.scmp.com/business/banking-finance/article/3278739/hong-kong-link-its-bond-market-macau-create-deeper-bigger-hub-debt-finance?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3278739/hong-kong-link-its-bond-market-macau-create-deeper-bigger-hub-debt-finance?utm_source=rss_feed Mon, 16 Sep 2024 10:30:11 +0000 Bloomberg Bloomberg Warehouses across China are bulging with grain as a deepening economic crisis takes hold, leaving the world’s farmers to grapple with the prospect of a long-lasting slowdown gripping one of their largest customers. The strain across global markets is already showing. French barley exports to China have been tumbling, and the US has yet to sell a full corn cargo for the new season. Wheat farmers in Australia are likely to be nervous as they prepare to start harvesting their new crop over the... https://www.scmp.com/business/commodities/article/3278677/chinas-fading-hunger-grain-spells-trouble-world-farmers?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3278677/chinas-fading-hunger-grain-spells-trouble-world-farmers?utm_source=rss_feed Mon, 16 Sep 2024 05:29:06 +0000 Jiaxing Li Jiaxing Li Hong Kong stocks reversed losses to climb for a third day, as lacklustre Chinese economic data spurred hope that Beijing would roll out more stimulus, while the US Federal Reserve’s imminent easing cycle lifted sentiment. The Hang Seng Index gained 0.3 per cent to 17,422.12 on Monday, after losing as much as 1.1 per cent in earlier trading. The Tech Index jumped 0.5 per cent; mainland markets are closed through Tuesday for a holiday. Food delivery platform Meituan advanced 2.8 per cent to... https://www.scmp.com/business/markets/article/3278646/hong-kong-stocks-fall-weak-china-data-alibaba-and-tencent-lead-losses?utm_source=rss_feed https://www.scmp.com/business/markets/article/3278646/hong-kong-stocks-fall-weak-china-data-alibaba-and-tencent-lead-losses?utm_source=rss_feed Mon, 16 Sep 2024 02:26:28 +0000 Jiaxing Li Jiaxing Li Hong Kong stocks jumped for a second day to a one-week high as mainland developers rallied on speculation about mortgage-rate cuts. The Hang Seng Index added 0.8 per cent to 17,369.09 on Friday, adding to a 0.8 per cent gain on Thursday and narrowing the week’s loss to 0.4 per cent. The Tech Index gained 0.1 per cent while the Shanghai Composite Index dropped 0.5 per cent to a fresh eight-month low. Food delivery platform Meituan added 0.6 per cent to HK$123, smartphone maker Xiaomi added 1.6... https://www.scmp.com/business/markets/article/3278339/hong-kong-stocks-rise-speculation-about-mortgage-rate-cuts-china?utm_source=rss_feed https://www.scmp.com/business/markets/article/3278339/hong-kong-stocks-rise-speculation-about-mortgage-rate-cuts-china?utm_source=rss_feed Fri, 13 Sep 2024 02:31:54 +0000 Jiaxing Li Jiaxing Li Hong Kong stocks climbed from a one-month low, joining a rally in Asia-Pacific markets amid bullish bets on global rate cuts. Alibaba Group Holding led tech leaders higher on signs of surging demand from mainland-based investment funds. The Hang Seng Index rose 0.8 per cent to 17,240.39 on Thursday, after sliding on Wednesday to the lowest level since August 9. The Tech Index advanced 0.7 per cent, while the Shanghai Composite Index slipped 0.2 per cent to fresh eight-month low. E-commerce... https://www.scmp.com/business/markets/article/3278176/alibaba-wuxi-biologics-lead-hong-kong-stock-rebound-fund-inflows-fed-rate-focus?utm_source=rss_feed https://www.scmp.com/business/markets/article/3278176/alibaba-wuxi-biologics-lead-hong-kong-stock-rebound-fund-inflows-fed-rate-focus?utm_source=rss_feed Thu, 12 Sep 2024 03:07:54 +0000 Aileen Chuang Aileen Chuang HSBC Holdings emerged as the world’s largest dividend payer during the second quarter of this year, while growth in the Asia-Pacific region lagged behind the rest of the world during the period, according to asset manager Janus Henderson Investors’ latest global dividend index. The largest bank in Europe and Hong Kong topped the dividend-payout list with a total disbursement of US$11.7 billion for the June quarter, aided by a US$4 billion special dividend with proceeds from the sale of its... https://www.scmp.com/business/banking-finance/article/3278057/hsbc-tops-nestle-worlds-best-dividend-payer-while-china-mobile-leads-hong-kong-peers?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3278057/hsbc-tops-nestle-worlds-best-dividend-payer-while-china-mobile-leads-hong-kong-peers?utm_source=rss_feed Thu, 12 Sep 2024 01:46:13 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks retreated to a one-month low as a slump in crude oil prices revived jitters about the global growth outlook. The Hang Seng Index fell 0.7 per cent to 17,108.71 at the close, the lowest level since August 9. The Hang Seng Tech Index rose less than 0.1 per cent, and the Shanghai Composite Index retreated 0.8 per cent. China Petroleum and Chemical, also known as Sinopec, led the pack of decliners after crude futures tumbled by more than 4 per cent overnight to an almost three-year... https://www.scmp.com/business/china-business/article/3278029/hong-kong-stocks-dip-1-month-low-amid-slumping-oil-prices-us-presidential-debate?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3278029/hong-kong-stocks-dip-1-month-low-amid-slumping-oil-prices-us-presidential-debate?utm_source=rss_feed Wed, 11 Sep 2024 02:27:08 +0000 Jiaxing Li Jiaxing Li Hong Kong stocks edged higher, reversing earlier losses, thanks to a rally from Alibaba and stronger-than-expected export data out of China. The Hang Seng Index added 0.2 per cent at 17,234.09 on Tuesday, after losing as much as 0.4 per cent in earlier trading, to climb out from a three-week low. The Tech Index added 0.4 per cent, while the Shanghai Composite Index added 0.3 per cent to claw out of an eight-month low. Alibaba jumped 4.2 per cent to HK$81.60 after exchanges in Shanghai and... https://www.scmp.com/business/markets/article/3277868/hong-kong-stocks-hover-around-3-week-low-ahead-china-trade-data?utm_source=rss_feed https://www.scmp.com/business/markets/article/3277868/hong-kong-stocks-hover-around-3-week-low-ahead-china-trade-data?utm_source=rss_feed Tue, 10 Sep 2024 02:29:55 +0000 Jiaxing Li Jiaxing Li Hong Kong stocks fell to the lowest in three weeks after a poor inflation report from the mainland reinforced concerns about slowdown risks. Citigroup joined other Wall Street banks in snubbing Chinese stocks, citing weak consumption and corporate earnings outlook. The Hang Seng Index retreated 1.4 per cent to 17,196.96 on Monday, a level last seen on August 15. The Tech Index declined 1.5 per cent, while the Shanghai Composite Index slipped 1.1 per cent to an eight-month low. E-commerce leader... https://www.scmp.com/business/markets/article/3277712/hong-kong-stocks-hit-3-week-low-china-inflation-data-fuels-worries-about-growth?utm_source=rss_feed https://www.scmp.com/business/markets/article/3277712/hong-kong-stocks-hit-3-week-low-china-inflation-data-fuels-worries-about-growth?utm_source=rss_feed Mon, 09 Sep 2024 02:43:48 +0000 Zhang Shidong Zhang Shidong Chinese stocks traded at a seven-month low after a hint at more monetary easing from the nation’s central bank intensified concerns about the growth outlook. Hong Kong’s market did not trade Friday because of a typhoon. The Shanghai Composite Index dropped 0.8 per cent to 2,765.81 at the close, its lowest level since February 5. The benchmark fell 2.7 per cent this week, making for a third weekly loss. The CSI 300 Index also lost 0.8 per cent, while the Shenzhen Composite Index slid 1.6 per... https://www.scmp.com/business/china-business/article/3277409/chinese-stocks-advance-pbocs-hint-easing-hong-kong-closed-due-typhoon?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3277409/chinese-stocks-advance-pbocs-hint-easing-hong-kong-closed-due-typhoon?utm_source=rss_feed Fri, 06 Sep 2024 02:32:15 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks fell for a fourth day in a row, the longest losing streak in a month, as investors weighed the prospect of a rate cut by the Federal Reserve later this month following a weak US jobs report. The Hang Seng Index was down 0.1 per cent to 17,444.30 at the close, erasing an earlier gain of as much as 0.6 per cent. For the week, the benchmark is down 3 per cent. The Hang Seng Tech Index added 0.1 per cent Thursday and the Shanghai Composite Index was up by the same amount. Oil... https://www.scmp.com/business/china-business/article/3277249/hong-kong-stocks-snap-three-day-decline-hopes-fed-rate-cut-wharf-shk-rally?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3277249/hong-kong-stocks-snap-three-day-decline-hopes-fed-rate-cut-wharf-shk-rally?utm_source=rss_feed Thu, 05 Sep 2024 02:27:47 +0000 Daniel Ren Daniel Ren Changan Automobile, the Chinese partner of Ford Motor and Mazda Motor, has made a foray into Europe after setting up its first subsidiary on the continent, a marketing and service unit in Germany. The fourth-largest state-controlled carmaker in mainland China, Changan said on Tuesday that its German unit, Changan Automobile Deutschland, will perform marketing and engineering research to facilitate the company’s further expansion in Europe. “Establishment of the German subsidiary represents... https://www.scmp.com/business/china-business/article/3277142/chinas-state-owned-changan-automobile-establishes-subsidiary-germany?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3277142/chinas-state-owned-changan-automobile-establishes-subsidiary-germany?utm_source=rss_feed Wed, 04 Sep 2024 06:00:36 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks slid to halt a monthly gain as an official report showed that manufacturing in China contracted for a fourth consecutive month and a flurry of companies from banks to property developers reported disappointing results. The Hang Seng Index fell 1.8 per cent to 17,670.72 at the noon break, backtracking after the benchmark rose almost 4 per cent in August for the biggest monthly gain since April. The Hang Seng Tech Index dropped 1.8 per cent, and the Shanghai Composite Index... https://www.scmp.com/business/china-business/article/3276799/hong-kong-stocks-drop-halt-monthly-gain-weak-china-manufacturing-corporate-results?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3276799/hong-kong-stocks-drop-halt-monthly-gain-weak-china-manufacturing-corporate-results?utm_source=rss_feed Mon, 02 Sep 2024 02:21:00 +0000 Salina Li Salina Li Chow Tai Fook Enterprises (CTFE), the investment holding company of the Cheng family, said on Friday that it has set up a CEO’s office that will be helmed by three executives, including one of the clan’s youngest scions. The newly established position will be headed by Christopher Cheng Chi-leong, the co-CEO and head of North Asia; Patrick Tsang On-yip, the co-CEO and head of Americas, Australia and Europe; and Ho Gilbert Chi Hang, the co-CEO and head of corporate functions and operations, CTFE... https://www.scmp.com/business/article/3276641/chow-tai-fook-enterprises-appoints-3-co-ceos-diversified-experience-lead-growth?utm_source=rss_feed https://www.scmp.com/business/article/3276641/chow-tai-fook-enterprises-appoints-3-co-ceos-diversified-experience-lead-growth?utm_source=rss_feed Fri, 30 Aug 2024 13:25:15 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong employees looking for sizeable pay increases could be in for a disappointment, as companies struggle with inflationary pressures, cost cuts and weaker earnings, according to a study by the UK-based consultancy WTW (Willis Towers Watson). Nearly 40 per cent of Hong Kong companies have a smaller payroll budget for the current financial year ending March than they did last year, compared with 21 per cent a year ago, and the outlook for next year is equally conservative, the firm said in... https://www.scmp.com/business/banking-finance/article/3276426/hong-kong-firms-smaller-salary-budgets-double-amid-inflation-economic-woes?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3276426/hong-kong-firms-smaller-salary-budgets-double-amid-inflation-economic-woes?utm_source=rss_feed Thu, 29 Aug 2024 09:28:23 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks overcame a jittery start to log a winning day, as Meituan delivered better-than-expected earnings and more stock buy- back plans shore up sentiment. Electric-vehicle (EV) maker Li Auto sank after a weak earnings report underlined the cost of a brutal price war on sales margins. The Hang Seng Index gained 0.5 per cent to 17,786.32 on Thursday, clawing back an earlier slide of as much as 1.1 per cent. Today’s advance extended the benchmark index’s advance in August to 2.6 per... https://www.scmp.com/business/china-business/article/3276333/hong-kong-stocks-slip-chinese-ev-makers-slump-margin-squeeze-nvidia-hits-tech-bulls?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3276333/hong-kong-stocks-slip-chinese-ev-makers-slump-margin-squeeze-nvidia-hits-tech-bulls?utm_source=rss_feed Thu, 29 Aug 2024 02:43:01 +0000 Mia Castagnone Mia Castagnone Hong Kong stocks rose, extending a three-week winning run, on optimism borrowing costs will decline from as early as next month, after the Federal Reserve gave its strongest hint yet on an imminent change in policy. The Hang Seng Index rose 1.1 per cent to 17,798.73 on Monday, adding to a 1 per cent advance last week. The Tech Index gained 1 per cent while the Shanghai Composite Index was little changed. Property developer Longfor Group gained 3.1 per cent to HK$8.75 and Wuxi Biologics surged... https://www.scmp.com/business/banking-finance/article/3275867/hong-kong-stocks-extend-3-week-winning-run-feds-powell-signals-imminent-rate-cut?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3275867/hong-kong-stocks-extend-3-week-winning-run-feds-powell-signals-imminent-rate-cut?utm_source=rss_feed Mon, 26 Aug 2024 02:32:58 +0000 A leading university in Australia has required applicants to submit official reports as additional proof for mainland Chinese academic qualifications amid a surge in fake documents, after a Hong Kong institution recently cracked down on the trend. A spokesman for the University of New South Wales (UNSW) told the Post that it introduced the measure this year after discovering some applicants had submitted bogus papers, adding it upheld very strict admission standards. “As application volumes have... https://www.scmp.com/news/hong-kong/education/article/3275766/australian-university-takes-hong-kong-institutions-lead-tightens-mainland-admission-checks?utm_source=rss_feed https://www.scmp.com/news/hong-kong/education/article/3275766/australian-university-takes-hong-kong-institutions-lead-tightens-mainland-admission-checks?utm_source=rss_feed Sun, 25 Aug 2024 01:00:24 +0000 Eric Jiang Eric Jiang Linthin Technology, a Chinese start-up specialising in sports science, is banking on Hong Kong’s global connections and talent networks to expand its services to markets around the region, aided by the city’s key investment agency. The Shanghai-based company, which uses big data, Internet of Things, and artificial technology to enhance athletes’ performance and rehabilitation, joined the Science Park’s incubation programme last year and expects to raise its spending on research and development... https://www.scmp.com/business/article/3275683/chinese-sports-tech-start-banks-hong-kongs-connections-talent-reach-new-markets?utm_source=rss_feed https://www.scmp.com/business/article/3275683/chinese-sports-tech-start-banks-hong-kongs-connections-talent-reach-new-markets?utm_source=rss_feed Sat, 24 Aug 2024 01:30:10 +0000 Aileen Chuang Aileen Chuang Hong Kong stocks recorded a third consecutive weekly gain despite a slight fall on Friday, dragged down by Chinese blue chips’ disappointing earnings, while traders keenly await the Federal Reserve chair’s speech for clues on the coming interest-rate cut. The Hang Seng Index fell 0.2 per cent to 17,612.10 at the close, ending the week with a gain of 1 per cent. The Tech Index retreated 1.1 per cent while the Shanghai Composite Index advanced 0.2 per cent. The decline in Hong Kong followed the... https://www.scmp.com/business/markets/article/3275564/netease-baidu-meituan-hurt-hong-kong-stocks-put-third-weekly-gain-doubt?utm_source=rss_feed https://www.scmp.com/business/markets/article/3275564/netease-baidu-meituan-hurt-hong-kong-stocks-put-third-weekly-gain-doubt?utm_source=rss_feed Fri, 23 Aug 2024 02:56:36 +0000 Hong Kong Airlines will resume direct flights between the city and the Gold Coast in Australia from January next year, the carrier’s first step back into the long-haul market amid an expansion of its network, including a possible return to the North American market. The airline announced on Thursday that flights to the Gold Coast would operate seasonally from January 17 to February 15, with the four-times-a-week service running for five weeks over the Lunar New Year period. It will offer about... https://www.scmp.com/news/hong-kong/transport/article/3275501/hong-kong-airlines-returns-long-haul-market-gold-coast-route-eyes-north-america?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3275501/hong-kong-airlines-returns-long-haul-market-gold-coast-route-eyes-north-america?utm_source=rss_feed Thu, 22 Aug 2024 10:23:07 +0000 Jiaxing Li Jiaxing Li Hong Kong stocks snapped a two-day losing streak, with Xiaomi and AIA rallying on stellar earnings and JD.com leading a tech rebound after a sell-off. The Hang Seng Index jumped 1.4 per cent to 17,641.00 at the closing of Thursday trading. The Tech Index jumped 2.2 per cent and the Shanghai Composite Index lost 0.3 per cent. Xiaomi jumped 9 per cent to HK$19.10, the biggest winner among the 82 blue chip index members, after it reported a 32 per cent jump in second-quarter revenue to 88.9 billion... https://www.scmp.com/business/markets/article/3275406/jdcom-xiaomi-and-aia-lead-rebound-hong-kong-stocks-fed-clears-rate-cut-doubts?utm_source=rss_feed https://www.scmp.com/business/markets/article/3275406/jdcom-xiaomi-and-aia-lead-rebound-hong-kong-stocks-fed-clears-rate-cut-doubts?utm_source=rss_feed Thu, 22 Aug 2024 02:39:33 +0000 Australia could persuade its Anglo-American allies to take a more rational approach to Hong Kong and mainland China in the interests of global peace and stability. Instead, the Australian political elite, seemingly in thrall to the United States, continues to fuel tensions with China. This positions the remote island nation as a potential pariah in its region. Take the Aukus pact, for example, which will see Australia buy American and British nuclear naval capabilities for the first time. This... https://www.scmp.com/opinion/asia-opinion/article/3275053/australia-must-stand-us-and-uk-pressure-over-aukus?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3275053/australia-must-stand-us-and-uk-pressure-over-aukus?utm_source=rss_feed Wed, 21 Aug 2024 21:30:09 +0000 Aileen Chuang Aileen Chuang Hong Kong stocks fell on Tuesday along with daily turnover, as investors await developments on the US interest rate front after China left its key lending rates unchanged. The Hang Seng Index closed 0.3 per cent lower at 17,511.08, reversing a 0.8 per cent advance on Monday. The Tech Index fell 0.5 per cent, while the Shanghai Composite Index dropped 0.9 per cent. Personal hygiene products maker Hengan International tumbled 6.5 per cent to HK$23.90, while China Resources Beer shed 5.6 per cent... https://www.scmp.com/business/markets/article/3275123/alibaba-tencent-weigh-hong-kong-stocks-traders-search-clues-about-fed-rate-cut?utm_source=rss_feed https://www.scmp.com/business/markets/article/3275123/alibaba-tencent-weigh-hong-kong-stocks-traders-search-clues-about-fed-rate-cut?utm_source=rss_feed Tue, 20 Aug 2024 03:14:43 +0000 Bloomberg Bloomberg US inflation probably picked up modestly in July, but not enough to derail the Federal Reserve from a widely anticipated interest-rate cut next month. The consumer price index on Wednesday is expected to have risen 0.2 per cent from June for both the headline figure and the so-called core gauge that excludes food and energy. While each would be an acceleration from June, the annual metrics should continue to rise at some of the slowest paces seen since early 2021. The recent easing of price... https://www.scmp.com/business/markets/article/3274047/small-us-inflation-pickup-july-will-do-little-derail-feds-rate-cut-september?utm_source=rss_feed https://www.scmp.com/business/markets/article/3274047/small-us-inflation-pickup-july-will-do-little-derail-feds-rate-cut-september?utm_source=rss_feed Sun, 11 Aug 2024 03:46:43 +0000 It’s been more than 16 years since the untimely passing of celebrated actor Heath Ledger who, in January 2008, was found unconscious and not breathing in his New York flat. It was later revealed that the 10 Things I Hate About You and Brokeback Mountain star had died from a toxic combination of potent prescription medications. The entertainment industry – and indeed the world – mourned the tragic death of Heath, who was only 28 years old at the time. Michelle Williams and Matilda Ledger... https://www.scmp.com/magazines/style/entertainment/article/3273369/who-matilda-rose-ledger-late-heath-ledgers-only-child-18-year-old-was-recently-spotted-mum-michelle?utm_source=rss_feed https://www.scmp.com/magazines/style/entertainment/article/3273369/who-matilda-rose-ledger-late-heath-ledgers-only-child-18-year-old-was-recently-spotted-mum-michelle?utm_source=rss_feed Wed, 07 Aug 2024 10:00:11 +0000 The surprise announcement by the militant group Jemaah Islamiah to disband itself has been met with scepticism by families and friends who lost loved ones in the 2002 Bali bombings, Indonesia’s worst ever terror attack. Last month, 16 senior JI members announced the dissolution of the group behind the bombings in the Indonesian city of Bogor. Abu Rusdyan, who was widely believed to be JI’s leader, said the group has pledged its allegiance to Indonesia. JI will also revamp the hardline Islamist... https://www.scmp.com/week-asia/politics/article/3272067/jemaah-islamiahs-disbandment-indonesia-rings-hollow-bali-bombing-families?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3272067/jemaah-islamiahs-disbandment-indonesia-rings-hollow-bali-bombing-families?utm_source=rss_feed Sun, 28 Jul 2024 05:30:11 +0000 China’s diving “queen” Guo Jingjing recently announced she would once again be a judge for the Paris Olympic Games. This marks her second stint in this role, following her debut at the 2020 Tokyo Olympics. With a career spanning four consecutive Summer Games from 1996, when Guo was only 14, to 2008, this four-time Olympic gold medallist and 10-time world champion is considered one of China’s greatest Olympians. Beyond her extraordinary achievements in the pool, Guo is also known for her marriage... https://www.scmp.com/sport/paris-olympics-2024/aquatics/article/3272124/guo-jingjing-chinas-diving-gold-winning-queen-set-judges-role-paris-games?utm_source=rss_feed https://www.scmp.com/sport/paris-olympics-2024/aquatics/article/3272124/guo-jingjing-chinas-diving-gold-winning-queen-set-judges-role-paris-games?utm_source=rss_feed Sat, 27 Jul 2024 06:00:21 +0000 As Prabowo Subianto prepares to take over Indonesia’s presidency in October, experts say efforts are already under way to ensure the incoming leader fills his cabinet with loyalists who could help him achieve some of his more ambitious campaign promises. Incumbent Joko Widodo appointed two members of Prabowo’s inner circle as deputy ministers in his cabinet earlier this month, in a move experts described as “unusual” for an outgoing president. At a ceremony held at the Presidential Palace on... https://www.scmp.com/week-asia/politics/article/3272016/prabowos-cabinet-connections-loyalty-trumps-qualifications-indonesias-new-leader?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3272016/prabowos-cabinet-connections-loyalty-trumps-qualifications-indonesias-new-leader?utm_source=rss_feed Sat, 27 Jul 2024 04:00:09 +0000 In a historic election victory, Sir Keir Starmer successfully advocated for an YIMBY (Yes in My Backyard) agenda of growth and development for Britain. It all sounds quite familiar to Chinese ears, except for one missing piece of the puzzle: the country’s foreign policy approach of “Global Britain”, established by former prime minister Theresa May, and its implications for China. The Labour Party’s campaign understandably focused on domestic issues, such as high energy prices, the country’s... https://www.scmp.com/opinion/world-opinion/article/3271692/britain-can-deliver-its-domestic-goals-working-china?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3271692/britain-can-deliver-its-domestic-goals-working-china?utm_source=rss_feed Wed, 24 Jul 2024 12:30:10 +0000 Still a relative newcomer to the Summer Games, the men’s rugby sevens in Paris will be over before most events have really had a chance to get started. But even though it begins two days before the opening ceremony, it could easily set the tone for the weeks that follow, especially if Antoine Dupont can guide the home nation to gold. In the women’s competition, all eyes will be on New Zealand and Australia, with the two rivals expected to battle it out in the final once more. Athletes to... https://www.scmp.com/sport/rugby/article/3269838/paris-olympics-all-you-need-know-rugby-sevens-puts-fiji-and-dupont-spotlight?utm_source=rss_feed https://www.scmp.com/sport/rugby/article/3269838/paris-olympics-all-you-need-know-rugby-sevens-puts-fiji-and-dupont-spotlight?utm_source=rss_feed Mon, 22 Jul 2024 06:00:09 +0000 A Hong Kong man who was arrested in Singapore after HK$3 million (US$384,260) worth of suspected crystal meth was discovered in two stone figurines could face the death penalty in the city state. Hong Kong police said on Thursday the narcotics bureau tipped off its counterpart in Singapore late last month after suspecting a trafficking syndicate had sent people to the Southeast Asian country for drug-related activities. Officers from Singapore’s Central Narcotics Bureau (CNB) arrested the... https://www.scmp.com/news/hong-kong/law-and-crime/article/3270904/hongkonger-arrested-hk3-million-ice-could-face-death-penalty-singapore?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3270904/hongkonger-arrested-hk3-million-ice-could-face-death-penalty-singapore?utm_source=rss_feed Thu, 18 Jul 2024 05:49:29 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong and mainland Chinese cities are likely to see more empty prime space and falling office rents in the next 12 months, contrasting with the fortunes of Australian cities, Taipei and Singapore, according to Knight Frank. In a study of 23 cities across Asia-Pacific, the property consultancy found 15 markets recorded stable or increasing rents in the second quarter compared with a year earlier. However, Beijing, Shanghai, Hong Kong and Guangzhou were the worst performers, registering rental... https://www.scmp.com/business/article/3270823/hong-kong-mainland-china-weigh-asia-pacific-office-rents-amid-high-vacancy-report?utm_source=rss_feed https://www.scmp.com/business/article/3270823/hong-kong-mainland-china-weigh-asia-pacific-office-rents-amid-high-vacancy-report?utm_source=rss_feed Thu, 18 Jul 2024 02:30:16 +0000 Paris may have promised the greenest Olympics ever, but China is leaving nothing to chance in its bid to find an edge in the race for gold, and has taken mattresses, air conditioning units and even its own chefs to the French capital. Officials have also hung the Chinese flag from every bedroom window of the rooms the delegation will be occupying in the Olympic Village to add “a splash of colour” and provide athletes with “a tremendous force for us to go forward”. In a bid for eco-friendliness,... https://www.scmp.com/sport/china/article/3270853/paris-olympics-bid-gain-edge-china-takes-mattresses-massage-beds-games?utm_source=rss_feed https://www.scmp.com/sport/china/article/3270853/paris-olympics-bid-gain-edge-china-takes-mattresses-massage-beds-games?utm_source=rss_feed Wed, 17 Jul 2024 15:59:07 +0000