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27 Feb Ding Yi Feng tanks in Hong Kong as market watchdog charges former chairman Sui Guangyi, 20 others with manipulating shares

Posted at 04:37h in Asia

Sui is Ding Yi Feng’s largest shareholder with a 22.26 per cent stake, according to the company’s interim report in 2023.Ding Yi Feng said it is in consultation with its legal advisors regarding a “Writ of Summons” – an official order for an individual to...

27 Feb Restructuring specialists boost Hong Kong staff as China property crisis stokes demand

Posted at 03:58h in Asia

Global restructuring specialists Alvarez & Marsal and Houlihan Lokey have boosted headcount in Hong Kong as China’s property crisis results in a surge in debt restructuring deals – making them a rare bright spot in hiring for the city’s financial sector.China’s property industry, a key...

27 Feb Zhida, a Chinese maker of EV charging systems, is weighing US$128 million Hong Kong IPO this year, source says

Posted at 03:31h in Asia

Shanghai Zhida Technology Development, a maker of electric-vehicle charging systems, is considering an initial public offering (IPO) in Hong Kong that could raise about HK$1 billion (US$128 million), according to a person with knowledge of the matter.The Chinese company is working with Shenwan Hongyuan Group...

27 Feb Hong Kong stocks slide for third day as rebound spurred by government intervention fades; Li Auto jumps as profit hits record

Posted at 02:57h in Asia

Hong Kong stocks dropped for a third day as a rebound spurred by state intervention continued to lose momentum. Investors were cautious ahead of the city’s budget address on Wednesday.The Hang Seng Index fell 0.3 per cent to 16,580.04 as of 9.57am local time, extending...

27 Feb China’s online brokerage Futu eyes Malaysian market following its Singapore foray in overseas expansion drive

Posted at 02:30h in Asia

Futu Holdings, an online Chinese brokerage backed by Tencent, is accelerating its overseas expansion by entering the growing Malaysia market as it seeks to counterbalance Beijing’s tightening grip on outbound securities investments from mainland China.Moomoo Malaysia, fully owned by Futu and launched on February 27,...

Dynamic trading platform: HKTDC’s “Hong Kong International Jewellery Show” and its concurrent “Hong Kong International Diamond, Gem and Pearl Show” host over 4,000 exhibitors

27 Feb Dynamic trading platform: HKTDC’s “Hong Kong International Jewellery Show” and its concurrent “Hong Kong International Diamond, Gem and Pearl Show” host over 4,000 exhibitors

Posted at 01:55h in Asia

The buoyant jewellery market is evident at the shows, with 36 national/regional and industry pavilions, thanks to support from global industry associations. For the first time, Malaysian companies are participating as a group. The pavilions include those from Mainland China, Taiwan, Japan, Türkiye, South Korea,...

27 Feb Hong Kong ‘losing out’ to jurisdictions such as Singapore, should exempt private credit assets from tax: industry body

Posted at 01:30h in Asia

Hong Kong’s funds industry is calling for a profit tax exemption for private credit assets, as the city is failing to attract a booming business and is losing out to Singapore because of its existing tax regime.The Unified Fund Exemption (UFE) regime allows most private-equity...

27 Feb HTX, formerly Huobi, withdraws Hong Kong crypto licence application three days after submission

Posted at 01:00h in Asia

Cryptocurrency exchange HTX, formerly Huobi Global, has withdrawn its application for a licence to operate in Hong Kong, in a dramatic retreat from its highly publicised plans to win customers in the city after exiting the mainland market.The Hong Kong operation of HTX, HBGL Hong...

27 Feb International Women’s Day: Hong Kong-listed firms see notable rise of gender diversity on boards but advocates say more can be done

Posted at 00:00h in Asia

Hong Kong-listed firms have seen a notable rise of female representation on boards, thanks to favourable regulation, but they still lag regional peers when it comes to women in key executive roles, according to US-based financial indices and analysis tools provider MSCI.Among companies domiciled in...

26 Feb Climate change: Hong Kong Monetary Authority to roll out risk assessment platform for banks, workforce training programmes

Posted at 23:00h in Asia

The Hong Kong Monetary Authority is expanding its role as a banking supervisor by addressing the pain points faced by the industry when managing climate risk, including setting up an online risk assessment platform and training the workforce.The authority has been developing the cloud-based physical...

Asia