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WealthTech

WealthTech
Stories about how technology is used to enhance the wealth management industry, including mutual funds, and exchange-traded funds
Cyberspace Administration of China director Zhuang Rongwen (left) with Hong Kong leader John Lee. Photo: ISD
Hong Kong economy

Hong Kong, mainland China sign ‘milestone’ MOU on promoting digital economy

Memorandum of understanding covers topics including AI promotion, cross-boundary data flow and blockchain.

Banking & finance

Manulife, HSBC, Barclays lead big finance firms’ AI adoption in Hong Kong

Fintech

Can Hong Kong lead a digital gold trading revolution with blockchain innovation?

Wealth: Alternative Investments

Healthcare’s digital revolution could be a tonic for savvy investors

The rise of AI, healthtech and ageing populations is prompting wealth managers to monitor the pulse of a sector once seen as stodgy.

Supported by
BNP Paribas Wealth Management
Healthtech’s applications, including robot-assisted surgery, are now driving up companies’ valuations in the sector. Photo: Edmond So
Wealth: Alternative Investments

Will tokenisation revolutionise Hong Kong’s financial landscape?

Tokenisation offers fractional ownership and faster trades, but regulatory clarity and market adoption remain challenges.

Supported by
BNP Paribas Wealth Management
Hong Kong

Hong Kong launches Asia’s first Solana ETF ahead of the US

Launched by fund manager ChinaAMC (HK), the ETF will offer returns that closely correspond to the performance of the SOL token.

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Wealth Report

How Hong Kong’s market innovations are aiming to enhance the city’s trading environment

Reforms are being introduced to sustain the surge in public offerings that has made the city among the world’s leading IPO venues in the last 6 months.

Market reforms – including measures to make IPOs easier – have helped Hong Kong’s Hang Seng Index make a stellar start to 2025. Photo: Sun Yeung
ETFs

Exclusive | Thematic Hong Kong AI and biotech ETFs next for Saudi investors: exchange CEO

Proposed new rules could allow Hong Kong companies to list on Saudi Exchange by offering depositary receipts, CEO Al-Rumaih says.

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Banking & finance

Young Hong Kong investors want AI involved in their portfolios, survey says

Some younger wealth-management clients even trust robo-advisers more than humans, according to EY.

Banking & finance

Hong Kong’s digital banks seek post-Covid growth in wealth management

Hong Kong’s digital banks plan to expand wealth management businesses as deposits and loans surge.

A pedestrian in front of a currency mural on a shop’s gate in Hong Kong on 26 December 2024. Photo: Antony Dickson
Banking & finance

In quest to generate alpha, fund managers see GenAI as ‘holy grail’: Citigroup

The fund management industry is using AI to enhance operational efficiency and productivity, investment research and client engagement, Citigroup study shows.

For the investment management industry, the holy grail is to find an alpha generation idea. Photo: Shutterstock
Banking & finance

Charles Li’s Micro Connect asks staff to back its start-ups with their own cash

The small-business financing platform co-founded by former HKEX chief Charles Li Xiaojia said it is asking staff to invest in the start-ups it backs, confirming an online article that sparked widespread discussion on social media.

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Banking & finance

UBS weighs bonus for investment bankers who refer rich clients

UBS may start rewarding its bankers for referring clients to the firm’s wealth management business, in a first for the Zurich-based lender

United States

FTX says most customers will be fully repaid, less than 2 years after collapse

FTX said in a court filing it owes about US$11.2 billion to its creditors. The exchange estimates it has between US$14.5 billion and US$16.3 billion to distribute to them.

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FTX says it has enough money repay most of their customers in full, after the exchange’s collapse. Photo: Reuters
Fintech

Alternative finance firm Micro Connect pitches model to Southeast Asia at Money20/20

Charles Li, former head of the Hong Kong stock exchange, wants to bring its model of financing for a cut of daily revenue to Southeast Asia as early as the fourth quarter.

Former Hong Kong Exchanges and Clearing (HKEX) CEO Charles Li Xiaojia, who launched fintech platform Micro Connect in August 2021. Photo: Xiaomei Chen
Banking & finance

Dubai royal nephew to open US$500 million family office in boost to Hong Kong hub

Sheikh Ali Al Maktoum, the nephew of Dubai ruler, is opening a family office in Hong Kong, one of the first high-profile global investors to respond to the city’s campaign to lure the ultra-rich.

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Crime in Hong Kong

‘Crypto investors need education’: Hong Kong YouTuber after JPEX allegations

There were early red flags over cryptocurrency platform at the centre of HK$1.5 billion fraud scandal, says YouTuber.

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Fintech

Prudential Hong Kong invests in AI, clinics amid mainland visitor buying spree

Prudential Hong Kong will continue to invest in AI and technology to boost its insurance business, while it expects mainlanders will continue to come to Hong Kong to buy the policies in the second half, according to its top boss.

Shoppers with suitcases cross Canton Road in Tsim Sha Tsui, Hong Kong, on May 13, 2023. Photo: Yik Yeung-man
Bitcoin

Hong Kong’s Hashkey among city’s first to kick off retail crypto exchange

One of Hong Kong’s first licensed cryptocurrency exchanges has officially started accepting retail users, allowing them to trade bitcoin and ether directly with fiat currencies.

Fintech

Wealth adviser Endowus’s Hong Kong expansion has GBA potential in cross hairs

Wealth adviser Endowus Group raises HK$273 million (US$35 million) aiming to deploy the proceeds in Hong Kong as the city stakes its claim to being Asia’s wealth management centre.

Banking & finance

Hong Kong, Singapore clients rate wealth management apps poorly: Accenture

Asia’s wealth management firms are not up to scratch with their mobile banking services, according to a survey by consulting firm Accenture.

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More than half the clients of Asian wealth management firms rate their mobile apps poorly. Photo: Shutterstock
X (formerly Twitter)

Twitter employees sue for ‘tens of millions of dollars’ in bonuses

Mark Schobinger, who filed the lawsuit on behalf of himself and other employees, alleges they were promised 50 per cent of their 2022 bonus by executives, assurances made both before and after Elon Musk acquired the company.

Lawsuits against the social-media company have been piling up since Elon Musk’s takeover. Photo: AP
NFTs

SCMP spin-off shakes off cooling interest in NFT to raise US$3.25 million

Artifact Labs is planning several new partnerships with global museums after a seed funding round led by Blue Pool Capital and Animoca Ventures, despite cooling interest in NFTs.

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Banking & finance

Vanguard plans to close business in China, exit Ant joint venture, sources say

The US$7.1 trillion asset management giant has informed the Chinese government of intentions to close its unit in Shanghai, according to sources.

Fintech

Young blood, fresh ideas are key to Hong Kong’s fintech future, summit hears

The future of financial technology in Hong Kong will rely on young people with new ideas, and the city offers many advantages that will help to nurture the sector, industry leaders told the Greater Bay Area Fintech Talent Summit on Thursday.

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The future of fintech in Hong Kong will rely on young blood and new ideas, and the city offers many advantages that will help to nurture the sector, industry leaders said. Photo: Shutterstock
Blockchain

Hong Kong crypto exchange AAX hit by losses at 10kM trading unit: source

Former employee says AAX’s troubles have been partly caused by trading strategies and risk management practices at its market maker 10kM Trading.

Logo of cryptocurrency exchange company AAX Limited. Photo: Handout
Banking & finance

Hong Kong’s ZA Bank and UK’s Wise in online money transfer tie-up

ZA Bank’s tie-up with UK tech firm Wise provides the Hong Kong virtual bank’s users a platform to make international money transfers, while allowing it to grab a bigger share of digital remittances from the city.

Blockchain

Hong Kong’s crypto about-face attracts bank interest from mainland China

Some mainland banks and family offices are considering starting or reactivating virtual asset projects in Hong Kong, Deloitte China’s digital asset leader said.

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