Financial Services
Peg defense boosts interbank borrowing costs to two-month peak
Peg defense boosts interbank borrowing costs to two-month peak
The HIBOR for a one-month interest period hit 1.38%.
Residents expect to fall short of $5m life savings target
They expect they can set aside only $3.15m after retirement.
Central bank buys $2.355b to defend weakening currency peg
The HKD fell as the greenback gained strength after Turkey’s market turmoil.
Hong Kong-New Zealand tax treaty protocol kicks into effect
It implements the automatic exchange of information in tax matters on a bilateral basis.
Life annuity scheme subscription hits $4.94b out of $10b limit
Average subscription amount was at $525,000.
Two more Chinese firms jump in on biotech listing fever
Kintor and Frontier are amongst those eyeing floats.
Homeowners to feel pinch as banks hike mortgage rates
BOC (Hong Kong), HSBC and Hang Seng Bank raised rates by 10bp.
Singapore nabbed Asia's fintech crown from Hong Kong in 2017
Total fintech funding hit US$983.6m in 2017 versus Hong Kong's US$596.8m.
Hong Kong stock exchange operator profit surges 44% to $5.04b in H1
Record revenues from trading and jumbo listings boosted HKEX half-year earnings.
Chinese tech firm Bytedance eyes US$3b in funding before jumbo Hong Kong IPO
It would put the firm in prime position to be the world's second largest unicorn.
Asian fintech funding skyrocketed 740% to US$16.8b in H1
Thanks to the US$14b funding round by China's Ant Financial.
Bank loan growth may slow to 5% in H2
Trade tensions and higher interest rates are to blame.
Hong Kong raises record US$19.2b in summer IPO haul
Trading volume smashed previous record in 2010.
Hong Kong insurance sector taps on rattled Chinese market
New business premiums from Mainland clients hit $11.8b in Q1.
Hong Kong trails behind Singapore in ease of bank account opening for non locals
Startups, SMEs and foreign nationals lament the inefficiency.
IPO loans boost bank lending by 0.9% in June
IPO loans were estimated at $15.3b.
Approved mortgage loans down 4.8% to $40.6b in June
However, the number of applications continued to rise to 14,579.
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