Asia

22 Jan Hedge funds led by Chris Hohn’s TCI and Ken Griffin’s Citadel cap bumper year for profits in 2023: LCH survey

Posted at 02:10h in Asia

Billionaire money managers Chris Hohn and Ken Griffin led hedge funds to deliver one of the best years for clients in 2023.The industry produced combined gains worth US$218 billion after fees, according to estimates by LCH Investments, a fund of hedge funds. Hohn’s TCI Fund...

22 Jan The cheque’s end is nigh: Hong Kong’s banks set road map to phase out paper payment in their embrace of e-payments

Posted at 00:30h in Asia

Three years of Covid has pushed the public towards digital payments, leading to a decline in the use of cheques, said Lim, who is also the Hong Kong CEO of HSBC. The HKAB’s chairmanship is rotated annually between the bosses of HSBC, Standard Chartered and...

21 Jan Hong Kong urged to match Singapore in green and sustainable financing subsidies to help revive debt offerings

Posted at 23:30h in Asia

Hong Kong has helped fuel a surge in bond sales tied to green and sustainable projects, spending HK$210 million (US$26.9 million) to subsidise issuance costs. Market players are calling for an extension of the three-year incentive to rival those offered by Singapore.The city has...

21 Jan Goldman Sachs doubles loan facility to Hong Kong fintech start-up FundPark to US$500 million

Posted at 22:30h in Asia

FundPark, a Hong Kong-based fintech start-up that provides trade finance for small and medium enterprises (SMEs), has secured US$500 million from Goldman Sachs, the second funding facility from the US investment bank in two years.Goldman recently doubled the asset-backed securitisation facility to up to US$500...

21 Jan Mainland Chinese buyers return to Hong Kong’s luxury property market amid signs of a pickup in activity

Posted at 07:51h in Asia

A 8,583 sq ft duplex penthouse at Kerry Properties’ Mont Verra, in Beacon Hill, Kowloon Tong, was sold by tender for HK$619 million, or HK$72,119 per square foot.General view of Mount Nicholson at 8 Mount Nicholson on The Peak. Photo: Martin ChanAnother luxury villa...

21 Jan Nokia set to exit telecommunications joint venture with Huawei amid US-China tensions

Posted at 03:00h in Asia

Finnish telecoms equipment giant Nokia has found new buyers for its majority stake in a Beijing-based joint venture with Huawei Technologies, after a proposed deal fell through last year following strong protest by the Chinese partner.Under the latest agreement, wireless technology firm TD Tech will...

21 Jan China property: why an uptick in Beijing, Shanghai home sales is unlikely to last

Posted at 02:00h in Asia

The transactions of new homes in Beijing jumped 38.5 per cent year on year to 6,106 units in December, bringing the total volume of new homes sold across the city to 66,000 units, or 74.9 million square metres. Meanwhile, new home prices rose by 0.17...

20 Jan China convenes Huawei, Tencent, Baidu to draft metaverse standards in bid to become global technology leader

Posted at 08:11h in Asia

China’s Ministry of Industry and Information Technology (MIIT) has assembled 60 experts, including some from the country’s largest technology firms, to form a new working group to establish standards for the metaverse sector.Representatives from telecoms equipment giant Huawei Technologies, video gaming titans Tencent Holdings and...

20 Jan China property: once-mighty developers strain for lifelines of state support after end of sector’s ‘golden age’

Posted at 02:00h in Asia

However, analysts warn that even the developers that make the list will find the coming years brutal. The landscape of the home-building business in China has been forever altered by the years-long liquidity crisis and a prolonged sales slump, analysts said. Now companies with partial...

20 Jan TuSimple will continue its drive to Asia-Pacific in wake of autonomous truck firm’s decision to delist from Nasdaq

Posted at 01:00h in Asia

Autonomous truck company TuSimple Holdings will continue to pivot to the Asia-Pacific (APAC) region for better commercial opportunities and in line with its plan to delist from the Nasdaq exchange, said chief executive officer Lu Cheng.TuSimple is shifting its focus to APAC, including China,...