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11 Mar Hong Kong’s exhibition centre nears pre-Covid numbers as trade fairs return from Singapore and new crypto event signs on

Posted at 10:58h in Asia

The schedule of events at Hong Kong’s Convention and Exhibition Centre is filling up nearly to pre-pandemic levels, with a busy slate in 2024 and a large cryptocurrency gathering coming on board for early 2025, according to a top executive.The total number of events in...

11 Mar Chinese regulators ask large banks to step up support for Vanke, sources say

Posted at 09:16h in Asia

Chinese regulators recently met financial institutions to discuss state-backed property developer China Vanke where they asked large banks to enhance financing support and asked private debt holders to discuss maturity extension, two sources said.The sources with direct knowledge of the matter said the financial institutions...

11 Mar Hong Kong’s top market watchdog proposes slashing China investment threshold for cross-border trading via Stock Connect

Posted at 08:00h in Asia

The head of Hong Kong’s securities regulator has proposed lowering the investment barrier for mainland Chinese traders to lift stock market turnover and boost sentiment.The minimum asset requirement for investing in Hong Kong equities via the southbound leg of the Stock Connect programme should be...

11 Mar No relief yet for China’s housing market with excess supply in secondary market, weak price guidance in new projects

Posted at 04:32h in Asia

China’s housing market is seen under more pressure this year, plagued by excess supply in the secondary market as desperate homeowners look to cash out. Prices may need to drop further, with buyers waiting for bigger discounts amid an economic gloom, industry analysts said.Listings of...

11 Mar South Korean bankers misrepresented risky China-linked notes to retirees, financial watchdog says

Posted at 04:18h in Asia

South Korea’s financial watchdog said it found a range of instances where some of the country’s largest brokers misrepresented risky China-linked structured products to retail investors, many of whom are retirees.An investigation into five banks and six brokerages uncovered poor regulatory compliance and systematic failures...

11 Mar Hong Kong stocks open firm as China inflation report triggers hopes of rising consumer demand

Posted at 02:48h in Asia

Hong Kong stocks rose, starting the week on a firm note, after an official report over the weekend spurred optimism that consumer demand was improving in the world’s second largest economy, with positive investor flows also boosting sentiment.The Hang Seng Index advanced 1.4 per cent...

11 Mar Hong Kong to host international sustainability summit as platform for companies to move beyond ‘empty talk’ on net zero

Posted at 01:30h in Asia

Hong Kong will be hosting an international sustainability summit this month to provide a platform for corporate leaders around the world to share their progress on reaching their climate goals as well as exchange best practices to achieve net-zero emissions.Set to take place on March...

11 Mar ‘Two sessions’ 2024: China’s lawmakers call for more AI development to catch up with US, while keeping it under regulatory control

Posted at 01:00h in Asia

“We must establish a unified market for computing power services and the effective use of resources across the country,” Yu, a CPPCC member, said.Xi Jinping’s hi-tech push steals the spotlight at China’s ‘two sessions’His appeal resonated with other delegates, including telecoms equipment maker ZTE’s senior...

11 Mar HSBC woos Asia’s ultra-rich to set up family offices in Hong Kong with suite of digital and wealth planning services

Posted at 00:30h in Asia

HSBC, Hong Kong’s biggest lender, plans to increase the visibility of its family office and digital banking services to attract ultra-high-net-worth clients to its private banking unit, according to a senior executive.“We have seen a strong growth in ultra-high-net-worth customers in the Asia-Pacific region, particularly...

10 Mar China’s ‘two sessions’ 2024: new mandate, party control push central bank beyond ordinary role

Posted at 22:00h in Asia

Rather than take drastic action to silo China from the US and insulate its economy from what already looked like a ticking time bomb, Wang promised his old friend the country would not dump its massive holdings of US treasury bills.Though that news was a...

Asia