https://www.scmp.com/rss/522986/feed The latest news and top stories on Robert Lee Wai-wang, the Vice-President of the Hong Kong Gold Exchange, and a Legislative Council member for Financial Services. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu Hong Kong’s Mandatory Provident Fund (MPF) is poised to report a loss of over HK$100 billion (US$12.8 billion) for March this week, its worst monthly loss in dollar terms since its inception 25 years ago. The sharp fall in global stock markets last month hit the MPF hard, while the uncertainties ahead stemming from the Middle East conflict have led the pension regulator and analysts to urge the 4.8 million members to adopt a diversified approach. The 378 MPF investment funds suffered a HK$103.3... https://www.scmp.com/business/markets/article/3348982/hong-kongs-mpf-set-report-worst-performance-3-years-march?utm_source=rss_feed https://www.scmp.com/business/markets/article/3348982/hong-kongs-mpf-set-report-worst-performance-3-years-march?utm_source=rss_feed Mon, 06 Apr 2026 05:00:08 +0000 Enoch Yiu Enoch Yiu Hong Kong Exchanges and Clearing (HKEX) last week proposed its biggest set of listing reforms since 2018 for Asia’s third-largest stock exchange. Delivered in a consultation paper, the reforms aim to further improve the competitiveness of the exchange that topped the world rankings for initial public offerings (IPOs) last year. The bourse operator will collect views on the proposals, which include broadening a special listing regime for innovative companies and opening the door for listings by... https://www.scmp.com/business/markets/article/3347324/should-hong-kongs-stock-exchange-make-all-ipo-applications-confidential?utm_source=rss_feed https://www.scmp.com/business/markets/article/3347324/should-hong-kongs-stock-exchange-make-all-ipo-applications-confidential?utm_source=rss_feed Sat, 21 Mar 2026 01:30:15 +0000 Enoch Yiu Enoch Yiu HSBC Holdings, Xiaomi, AIA, Pop Mart International, Tsingtao Brewery and others are among about 650 listed companies that may need to change their trading unit under proposed reforms by bourse operator Hong Kong Exchanges and Clearing (HKEX). Market participants generally support the reform as it would bring Hong Kong’s stock market trading in line with international practices and allow retail investors to more easily trade a wider range of stocks, but they also warn of challenges in... https://www.scmp.com/business/markets/article/3345863/why-hkexs-board-lot-reform-could-pose-challenges-hsbc-and-others?utm_source=rss_feed https://www.scmp.com/business/markets/article/3345863/why-hkexs-board-lot-reform-could-pose-challenges-hsbc-and-others?utm_source=rss_feed Mon, 09 Mar 2026 00:15:12 +0000 Kevin Li Kevin Li Hong Kong and Singapore have crossed swords over their ambitions to be the world’s gold trading hub, but experts say the city holds an advantage over its Southeast Asian rival, citing its access to mainland China’s robust market. As Hong Kong pushes ahead with measures to create an ecosystem for gold trading – highlighted as recently in the government’s budget late last month – Singapore has reportedly been courting global heavyweights. In response to the South China Morning Post’s queries a... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345867/hong-kong-singapore-square-race-become-worlds-gold-trading-hub?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345867/hong-kong-singapore-square-race-become-worlds-gold-trading-hub?utm_source=rss_feed Sun, 08 Mar 2026 11:00:12 +0000 Enoch Yiu Enoch Yiu Hong Kong lenders have only “insignificant” exposure to the Middle East, the city’s banking regulator said, although analysts expect escalating tensions in the region could slow local banks’ expansion plans in the near term. “The exposures of the Hong Kong banking sector to the Middle East are insignificant,” a spokeswoman for the Hong Kong Monetary Authority (HKMA) said in response to an inquiry from the South China Morning Post. “The HKMA does not comment on market rumours,” she added,... https://www.scmp.com/business/article/3345550/hong-kong-banks-face-limited-middle-east-risk-tensions-cloud-expansion-plans?utm_source=rss_feed https://www.scmp.com/business/article/3345550/hong-kong-banks-face-limited-middle-east-risk-tensions-cloud-expansion-plans?utm_source=rss_feed Thu, 05 Mar 2026 08:30:27 +0000 Enoch Yiu Enoch Yiu When Wilson Chan Fung-cheung joined Hong Kong’s banking industry as a foreign-exchange trader more than four decades ago, his work involved US dollars, UK pounds, Japanese yen and various European and Asian currencies – but not Chinese yuan. “Back then, there was no yuan trading at all as, in fact, the internationalisation of the yuan only started in 2009,” recalled Chan, who has worked for various Chinese banks. Beijing’s decision that year to promote its currency for wider use in trade,... https://www.scmp.com/business/banking-finance/article/3344464/why-chinas-path-financial-superpower-status-could-begin-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344464/why-chinas-path-financial-superpower-status-could-begin-hong-kong?utm_source=rss_feed Tue, 24 Feb 2026 15:00:09 +0000 Themis Qi Themis Qi The highest-paid independent non-executive director (INED) of a Hong Kong-listed company in 2024 made US$1.67 million, nearly 2,000 times what the lowest-paid INED received, drawing attention to a potential disconnect between pay and the responsibilities of the role. The lowest-paid INED received 6,000 yuan (US$867.94) in 2024, according to a survey by the Hong Kong Independent Non-Executive Director Association (HKINEDA), which was based on the 2024 annual reports of more than 2,600 listed... https://www.scmp.com/business/companies/article/3343485/why-its-troubling-hong-kong-board-member-pay-ranges-us850-us167-million?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343485/why-its-troubling-hong-kong-board-member-pay-ranges-us850-us167-million?utm_source=rss_feed Sun, 15 Feb 2026 03:30:10 +0000 Enoch Yiu Enoch Yiu Investment bankers in Asia are set for their best payday since 2021, with UBS, Citigroup and Morgan Stanley raising bonuses by an average of 20 per cent, according to people familiar with the lenders’ plans. The fat cheques follow higher revenues powered by robust initial public offering (IPO) activity, vibrant stock and bond markets, and a steady flow of mergers and acquisitions in 2025. Representatives for UBS, Citigroup and Morgan Stanley declined to comment when reached by the... https://www.scmp.com/business/banking-finance/article/3341062/ubs-citigroup-morgan-stanley-boost-bonus-investment-bankers-20?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341062/ubs-citigroup-morgan-stanley-boost-bonus-investment-bankers-20?utm_source=rss_feed Sun, 25 Jan 2026 23:30:13 +0000 Enoch Yiu Enoch Yiu Charles Li Xiaojia, former CEO of Hong Kong Exchanges and Clearing (HKEX), has suspended the initial public offering (IPO) plan of his investment company Micro Connect International Finance (MCIF), according to a letter sent to shareholders. “This decision stems from our recent recognition that the extended timeline associated with a proposed public listing has begun to outweigh its anticipated benefits, causing delays to MCIF’s deployment schedule and impacting Micro Connect’s broader... https://www.scmp.com/business/banking-finance/article/3337357/charles-li-halts-hong-kong-ipo-plan-micro-connect-fund-under-hkex-chapter-21?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337357/charles-li-halts-hong-kong-ipo-plan-micro-connect-fund-under-hkex-chapter-21?utm_source=rss_feed Mon, 22 Dec 2025 10:47:03 +0000 Enoch Yiu Enoch Yiu With Nasdaq seeking US regulatory approval to extend its trading hours to 23 hours, some industry players believe local bourse operator Hong Kong Exchanges and Clearing (HKEX) will need to consider a similar move for certain products to enhance its competitiveness. HKEX chief executive Bonnie Chan Yiting did not mention trading hours in her blog on Monday, but she did say the bourse operator would expand into digital currencies and tokenisation over the next decade, which analysts pointed out... https://www.scmp.com/business/banking-finance/article/3336635/hong-kong-under-pressure-extend-trading-hours-amid-digital-asset-expansion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3336635/hong-kong-under-pressure-extend-trading-hours-amid-digital-asset-expansion?utm_source=rss_feed Tue, 16 Dec 2025 09:45:25 +0000 Enoch Yiu Enoch Yiu Two listed companies under China Resources Group are planning to redomicile from the Cayman Islands to Hong Kong, marking the first batch of listed companies to reincorporate in the city under a new law, with analysts believing the trend will continue. China Resources Beverage (Holdings), the country’s second-largest water bottler under the brand C’estbon, has proposed to redomicile from the Cayman Islands to Hong Kong to reduce operating costs, according to a stock exchange filing late Friday... https://www.scmp.com/business/banking-finance/article/3327085/listed-china-resources-units-plan-redomicile-hong-kong-part-global-expansion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3327085/listed-china-resources-units-plan-redomicile-hong-kong-part-global-expansion?utm_source=rss_feed Sat, 27 Sep 2025 07:37:14 +0000 Enoch Yiu Enoch Yiu Sales of non-listed investment products soared to a record last year in Hong Kong, as capital poured into mutual funds, debt and equity-lined financial products amid improving market sentiments, underscoring the city’s growth as a financial hub. Sales increased by 40 per cent from 2023 to a record HK$6.07 trillion (US$778.3 billion), according to a survey released on Thursday by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA). As many as 1.2 million... https://www.scmp.com/business/banking-finance/article/3324366/hong-kongs-financial-market-booms-stocks-rally-fuels-sales-funds-bonds-and-others?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3324366/hong-kongs-financial-market-booms-stocks-rally-fuels-sales-funds-bonds-and-others?utm_source=rss_feed Thu, 04 Sep 2025 10:34:06 +0000 Enoch Yiu Enoch Yiu Close to 200 stockbrokers have closed their doors in Hong Kong since 2020, and industry players expect more to throw in the towel as new allotment rules make it harder for retail investors to get in on popular initial public offerings (IPOs). A total of 23 brokerages informed the city’s stock exchange that they ceased trading this year, according to data from bourse operator Hong Kong Exchanges and Clearing (HKEX). This came after 39 closures last year, 32 in 2023 and a record high of 49 in... https://www.scmp.com/business/markets/article/3323099/why-hong-kongs-small-stockbrokers-are-dying-breed-despite-hot-market?utm_source=rss_feed https://www.scmp.com/business/markets/article/3323099/why-hong-kongs-small-stockbrokers-are-dying-breed-despite-hot-market?utm_source=rss_feed Tue, 26 Aug 2025 00:30:08 +0000 Enoch Yiu Enoch Yiu Hong Kong Exchanges and Clearing (HKEX), which operates Asia’s third-largest stock market, will reduce the minimum trading spread for about 300 stocks starting Monday, a move aimed at lowering transaction costs and increasing turnover. “The minimum spread is the minimum price change for a stock traded on an exchange and determines the tightest bid-ask spread allowed,” the HKEX said in the conclusion of its consultation on the spread reform. “A reduction of minimum spreads could therefore... https://www.scmp.com/business/banking-finance/article/3320447/hkex-reduce-minimum-spread-300-stocks-monday-cut-cost-boost-trading?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3320447/hkex-reduce-minimum-spread-300-stocks-monday-cut-cost-boost-trading?utm_source=rss_feed Sun, 03 Aug 2025 03:30:09 +0000 Enoch Yiu Enoch Yiu Longer trading hours may become a global trend as more market operators embrace the idea in the coming months, as the London and Hong Kong exchanges attempt to gain first-mover advantage. The London Stock Exchange Group is reported to be studying the merits of 24-hour trading, while Hong Kong Exchanges and Clearing (HKEX) is preparing a new trading system that can support round-the-clock trading in financial derivatives. The cryptocurrency market has achieved that. Here is some background and... https://www.scmp.com/business/banking-finance/article/3319072/what-hong-kong-should-do-prepare-market-never-sleeps?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3319072/what-hong-kong-should-do-prepare-market-never-sleeps?utm_source=rss_feed Tue, 22 Jul 2025 01:06:57 +0000