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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.
Japanese Prime Minister Sanae Takaichi delivers a speech at a New Year’s reception hosted by three economic organisations in Tokyo on January 6. Photo: AFP
Japan

Macroscope | How Japan’s new economic model could inspire others to ‘look east’

As Tokyo seeks to boost its economic security, policymakers are tapping into household wealth and assets to advance industrial ambitions.

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US Federal Reserve

Trump’s pick for Fed chair says he’ll stay independent. Does he mean it?

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Singapore

Singapore shines as a stable investment oasis in a global storm

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US-China relations

China plan to be global arbitration hub fighting Western distrust: experts

China’s newly revised Arbitration Law marks the most significant overhaul of the country’s commercial dispute framework since 1994.

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China’s newly revised Arbitration Law took effect in March. Photo: Shutterstock
Bonds

Hong Kong secures US$3.5 billion to fund Northern Metropolis and green projects

Global investors pile into city’s latest bond sale, with orders 7.6 times oversubscribed, backing its green finance ambitions.

China's economic recovery

Wall Street giants lead China-profit surge despite market polarisation

Major investment banks expand market share in China, with Goldman reclaiming the revenue lead while Shengang keeps its asset crown.

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Gold in Hong Kong

Hong Kong prepares for gold futures trading: will the fourth time be the charm?

As HKEX eyes relaunch of gold futures, experts suggest extended hours, tax breaks, and storage facilities to ensure success.

HKEX aims to relaunch gold futures in the coming months and has sought market feedback to refine the plan. Photo: Dickson Lee
Hong Kong economy

Opinion | Hong Kong needs the people’s wisdom for its 5-year plan to succeed

The city can fuse market dynamism with strategic direction – but the key is support from the private sector and the public.

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Gold in Hong Kong

Editorial | Middle East war offers Hong Kong a golden opportunity

The war has driven home how well suited Hong Kong is to becoming an alternative to Dubai, a major gold trading hub.

Commodities

Hong Kong pushes gold futures relaunch as mainland China reserves climb

City aims to broaden gold offerings and expand clearing and storage facilities to seize opportunities in the surging market.

Hong Kong’s gold market has seen rising activity amid the Middle East turmoil. Photo: dpa
China’s private sector

After accounting overhaul, can Wuliangye share buys restore investor confidence?

Investors welcome Wuliangye’s multibillion-yuan share purchase plan after weak earnings and industry destocking hit sentiment.

The Wuliangye Group share purchase follows a prolonged downturn in China’s baijiu sector. Photo: Getty Images
Artificial intelligence

Kimi developer Moonshot AI valued at US$20b as it navigates new IPO rules

Firm raised US$2 billion from investors including Meituan’s venture and China Mobile, taking total to US$3.9 billion in the last six months.

Central banks

Macroscope | Australia’s interest rate rise signals growing hawkish stance in Asia

Reserve Bank of Australia is less an outlier than a harbinger of global monetary trends in the wake of war-induced supply shocks.

Yuan

China sets yuan at strongest level in 3 years as US dollar jitters simmer

Beijing is pushing for a stronger yuan to help globalise the currency, but the upswing could create issues for the country’s export giants.

The Chinese yuan has steadily strengthened against the US dollar in recent months. Photo: Shutterstock
LME

Hong Kong sharpens commodities hub ambitions with mediation and yuan push

Financial Secretary Paul Chan Mo-po sees “clear room” for more yuan-denominated commodities products as Hong Kong explores mediation role.

Financial Secretary Paul Chan Mo-po speaks at the LME Asia Metals Seminar 2026 in Hong Kong today. Photo: ISD
Bonds

Chinese household appliance maker Midea seeks US$2.2b from convertible bond sale

Midea looks to tap into the debt market to fund its overseas expansion and boost offshore liquidity amid rising sentiment on the stock.

Bonds

Editorial | A blooming bond market shows trust in Hong Kong dollar assets

The latest Hong Kong dollar-denominated offerings encourage more issuers from Hong Kong and overseas to explore local‑currency financing.

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CK Hutchison

CK Hutchison’s VodafoneThree exit sparks dividend speculation

Disposal of stake in UK’s biggest mobile carrier adds HK$2 billion profit, but conglomerate unlikely to declare special dividend: Citigroup.

The divestment will lift CK Hutchison’s profit by 7 per cent, according to analysts. Photo: Sam Tsang
Indonesia

Can Indonesia turn holiday island Bali into a global financial hub?

Having a financial centre on the island will help boost national economic competitiveness, officials say.

Business of climate change

Canadian Solar elevates Hong Kong role amid industry slump, geopolitical strain

Energy storage unit EP Cube eyes Hong Kong hiring and potential IPO as the group expands into higher-value markets.

Art

Are NFTs the hero or villain in the contemporary art scene?

In March, Art Basel Hong Kong featured a dedicated space for digital practices, raising the question: what’s next for non-fungible tokens?

The financial hype behind NFTs may have evaporated, but blockchain technology still has many applications. Photo: Josh Ye
HSBC

HSBC profit flat as Middle East provisions offset wealth growth

HSBC stock slides 5.2 per cent as higher credit charges linked to Middle East uncertainty and UK exposure offset wealth business growth.

HSBC’s first-quarter pre-tax profit fell 1 per cent to US$9.38 billion, below the consensus forecast of US$9.59 billion. Photo: Karma Lo
HSBC

OCBC acquires HSBC’s retail and wealth management operations in Indonesia

The move will add 336,000 customers and US$5.17 billion in assets under management to OCBC Indonesia.

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HKEX

Middle East war drives demand for Hong Kong metal storage, but capacity falls short

Manufacturers seek stable metal supplies and hedging tools in Hong Kong, but limited warehouse space risks capping growth.

Yuan

How China is quietly reshaping Southeast Asia’s payments beyond the US dollar

New initiative lets consumers use home-grown apps like Alipay for cross-border payments – supporting Beijing’s push to expand regional financial links.

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Alipay QR code in Jakarta, Indonesia, after the launch of the China-Indonesia cross-border payment system. Photo: Xinhua
Gold in Hong Kong

Gold rush: Hong Kong bullion imports from Dubai jump amid US-Iran war

Gold traders from the Middle East and Russia have been selling physical gold in Hong Kong at a discount of 15 to 20 per cent since early April.

Tourists admire gold jewellery at the Gold Souq in Dubai. Photo: Shutterstock
Hong Kong Monetary Authority (HKMA)

Hong Kong Exchange Fund records smallest gain in 5 quarters amid market slump

The war chest used to defend the city’s currency takes a hit as conflicts in Middle East prompt investors to move from stocks to safer assets.

Stock Connect

Kazakhstan’s AIFC discussing stock-trading links with Shanghai, Hong Kong

Cross-border trading connections could start with ETFs, says special economic zone’s governor.

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