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Banking & finance

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Banking & finance
News about the global financial industry with a focus on developments in Hong Kong and China.
Demand for AI-driven cybersecurity and compliance solutions could accelerate. Photo: Shutterstock Images
Artificial intelligence

Why Anthropic’s Mythos has energised China’s cybersecurity industry

Following the Mythos announcement on April 7, shares of major Chinese cybersecurity firms rose for several consecutive days.

Cryptocurrency

Chinese economist Fu Peng hails crypto’s historic rise as he joins Bitfire

China trade

Open Questions | Euro, yuan unlikely to match US dollar, Daniel Gros says

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Hong Kong economy

Opinion | Hong Kong’s stablecoin roll-out puts banks at the centre of digital money

Hong Kong is building a bank-led digital money system, not a cryptocurrency free-for-all.

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Bank and commercial buildings dot the skyline in Hong Kong’s Central business district in 2020. Photo: Sun Yeung
Mainland China

HKMA and HKAB launch task force for Hong Kong’s Northern Metropolis financing

The task force will provide professional advice on financing and banking services for the development of the megaproject.

HKEX

Hong Kong, Malaysia exchanges to team up on ETFs, listings, Islamic finance

Development ‘underscores growing demand from investors for cross-border products and diversified regional exposure’, HKEX CEO says.

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Biomedicine: Companies

Biotech-led boom as 8 China firms flock to Hong Kong’s thriving stock market

AI-powered drug developer Metis TechBio leads group that includes developers of autonomous driving technology and industrial robots.

Healthcare led liquidity growth on the Hong Kong stock market over the past decade, with trading turnover for the sector surging more than 11-fold between 2015 and 2025. Photo: Shutterstock
US Federal Reserve

America First Fed? Trump pick Warsh signals ‘monetary sovereignty’: analysts

Potential successor to Jerome Powell may pursue policies that pressure US dollar-driven assets and curb global liquidity, analysts say.

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Hong Kong

Hong Kong IPOs lure mainland China insurers seeking higher returns

Beijing’s emphasis on patient capital and market stability spurs mainland China’s insurers to channel funds into Hong Kong listings.

Mainland China

Greater China private equity set for patchy recovery, modest fundraising boost

China’s private equity market recovers selectively amid geopolitical tensions, with yuan funds leading and exits reaching record highs.

Greater China private equity deal volume and value rose for a second consecutive year in 2025. Photo: dpa
United States

Trump’s pick for Fed chief, calls for ‘regime change’ at US central bank

The remarks were made at a contentious confirmation hearing, which took place amid a criminal probe of current chair Jerome Powell.

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Kevin Warsh, US President Donald Trump’s nominee for Chair of the Federal Reserve, testifies in Washington on Tuesday. Photo: AFP
HSBC

No records, no role: HSBC, StanChart reject Iran-linked money laundering claim

HSBC chairman Brendan Nelson says bank is not a party to alleged Iran-linked case and holds no records, as US court seeks information.

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SCMP

State Street Institutional Press Awards honour SCMP business journalists

SCMP veteran Enoch Yiu received the Outstanding Contribution to Institutional Journalism Award for a nearly 30-year commitment to the field.

Hong Kong stock market

Premium for mainland China shares erodes or flips as Hong Kong draws capital

In the case of ‘hard’ technology firms like CATL and GigaDevice Semiconductor, the A-H premium becomes an H-A premium.

An index tracking the long-standing premium for A shares over H shares is down significantly from a February 2024 high. Photo: Jelly Tse
IPO

Victory Giant skyrockets after biggest Hong Kong IPO this year

The Nvidia supplier jumped on its trading debut, underscoring demand for AI hardware stocks and the resilience of Hong Kong IPO demand amid Middle East upheavals.

Victory Giant Chairman Chen Tao and his wife Non-Executive Director Liu Chunlan. Photo: AFP
China stock market

Outlook for China stocks brightens on capital flows, rebounding home prices

Resilience shown since start of Middle East war likely to continue amid haven demand, according to fund managers and investment banks.

IPO

Chinese circuit-board supplier Victory Giant jumps 57% in Hong Kong share debut

Nvidia supplier raises US$2.6 billion in its IPO as investors rush to cash in on the AI infrastructure boom.

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China trade

China presses IMF for quota reform, better surveillance of advanced economies

PBOC head urges IMF to ‘stand against protectionism’ amid effects from tariffs, Iran war.

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PBOC governor Pan Gongsheng appears with Kristalina Georgieva, managing director of the IMF. Photo: handout
Hong Kong

Hong Kong well positioned to attract global capital amid geopolitical shifts

Hong Kong is attracting global investors seeking stability as interest grows in its financial markets, FSDC officials say.

Singapore

Man vs Mythos: Asian financial bodies sound alert on AI hacking model

Anthropic held back a wider release after finding Mythos was capable of discovering security holes that had gone undetected for years.

Wine and Spirits

Liquid courage: Hong Kong fund pitches whisky as alternative investment

Fund pitches spirit as hedge and sees downturn as a rare entry point, citing emotional buying and shifting consumption trends.

Whisky has been gaining traction among wealthy investors seeking alternatives to traditional safe havens, according to an investment firm. Photo: Shutterstock
Mergers & Acquisitions

Orient Securities buyout to create US$85b brokerage amid consolidation push

Regulators are pressing ahead with their drive to nurture world-class investment banks through mergers and acquisitions.

Orient Securities logos are seen near a branch of the company in Shanghai, January 26, 2017. Photo: Reuters
Hong Kong

Hong Kong reasserts role as safe haven in global finance amid Iran conflict

The city’s safe-harbour appeal for capital and investments grows as China’s support strengthens its edge while Dubai faces pressure.

Wealth management

Cash holdings rise amid war, but Asia remains key for wealthy: Schroders CEO

High-net-worth clients continue to seek opportunities in Asia, taking a longer-term view despite global uncertainties, Richard Oldfield says.

Global monetary policy

Editorial | Chinese yuan slowly but surely cutting into US dollar dominance

Kazakhstan’s issuance of yuan-denominated debt shows developing nations can use ‘panda bonds’ as stepping stones into global capital markets.

An employee counts 100-yuan notes at a bank in Beijing on November 14, 2024. Photo: AFP
Hong Kong politics

Opinion | How markets will test Hong Kong’s new economic model

Industrial policy can guide and catalyse but it cannot substitute for a genuine competitive advantage.

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Pedestrians cross a road in Tsim Sha Tsui on August 26 2025. Photo: Jelly Tse
Hong Kong economy

Opinion | How Hong Kong can beat Singapore as the launch pad for Chinese firms

Chinese enterprises going global is this decade’s economic story. Hong Kong needs a system to guide them through each stage of their journey.

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Hong Kong property

Hong Kong buyers snap up more than 180 new homes as market confidence returns

About 70 per cent of buyers were end users and 30 per cent investors, with mainland buyers accounting for about 20 per cent of the total.

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