Date
16 October 2018

HKEJ

Hong Kong Economic Journal
  • MSCI managing director Rene Veerman said consultations are continuing on the inclusion of A shares in its emerging market index. Photo: HKEJ

    MSCI mum on impact of China market slump on A-share inclusion

    - Jul 28, 2015 11:20am
    MSCI Inc. has linked up with GF International Investment Management Ltd. in launching an exchange-traded fund tracking the US-based index company’s China-focused index, the Hong Kong Economic Journal reported on Monday. The launch came despite uncertainties...
  • Alexander Arena says the new service will run on Android devices, as well as Apple's iPhones at a later stage  Photo: HKEJ

    HKT launches foray into mobile payment market

    - Jul 28, 2015 11:17am
    HKT Trust & HKT Ltd. (06823.HK), which provides telecommunications and related services, is making a play for the mobile payment market. The company has established a new unit, HKT Payment Ltd., to tap into the fast-growing...
  • Jeffrey Chan says the Hong Kong government should offer more support to local industries by providing back-end payment infrastructure. Photo: HKEJ

    Hong Kong losing trading edge to China, accountant warns

    - Jul 27, 2015 11:41am
    Mainland China is chipping away at Hong Kong’s trading advantage after introducing tax concessions and benefits for e-commerce businesses. These include lower consumption tax on cosmetics and fashion items and more duty free outlets, according to...
  • Hu Xiaoming said Aliyun is targeting securities brokerages, insurance firms as well as small and medium-sized banks overseas. Photo: EJ Insight

    Aliyun vows to beat Amazon cloud computing unit in four years

    - Jul 27, 2015 10:46am
    Aliyun Computing Co. Ltd., a unit of Alibaba Group Holding Ltd., seeks to surpass US e-commerce giant Amazon.com Inc.’s leading status in the cloud computing business in three to four years, the Hong Kong Economic Journal reported Monday. Aliyun...
  • The Qianhai shopping mall will house retailers that will sell popular Hong Kong items such as baby formula and diapers. Photo: Photo: HKEJ

    Chow Tai Fook, Kerry submit bids for Qianhai mall: sources

    - Jul 27, 2015 10:45am
    Chow Tai Fook Enterprises Ltd. and Kerry Properties Ltd. (00683.HK) have submitted bids for a project to build a shopping mall for Hong Kong goods in Qianhai, Shenzhen, the Hong Kong Economic Journal reported Monday, citing unnamed...
  • Postal Savings Bank, a unit of China Post Group, is gearing up for a multi-billion dollar initial public offering. Photo: fang.com

    Postal Savings Bank seeks strategic investors ahead of IPO

    - Jul 24, 2015 11:23am
    Postal Savings Bank of China is stepping up efforts to secure strategic investors ahead of a planned multi-billion dollar initial public offering, the Hong Kong Economic Journal reported. The bank, a unit of state-owned China Post Group, could...
  • Dickson Poon said his company has no plans to close any its shops or shed staff for the time being. Photo: HKEJ

    Dickson Concepts expects HK retail slump to continue

    - Jul 24, 2015 11:18am
    Hong Kong’s retail industry will continue to see gloomy sales in the second half of the year as mainland travelers choose other shopping destinations in Asia and Europe, said Dickson Poon, chairman of Dickson Concepts International Ltd....
  • Nanyang Commercial Bank is reported to have drawn the interest of state-backed China Resources Group. Photo: HKEJ

    China Resources Group said to join the race for Nanyang Bank

    - Jul 24, 2015 11:09am
    China Resources Group is believed to be among the contenders for Nanyang Commercial Bank, which is being offloaded by BOC Hong Kong (Holdings) Ltd. (BOCHK, 02388.HK). The state-backed conglomerate has expressed interest in the Hong Kong...
  • Convoy Financial chief executive Mark Mak (right) and vice chairman Rosetta Fong warn against irrational investment behavior. Photo: HKEJ

    HK investors harbor unrealistic return expectations: survey

    - Jul 23, 2015 11:49am
    Hong Kong investors harbor unrealistic expectations of return from their stock market investments, a financial management expert said, after a recent survey showed that the average annual return expectation in the city is 20.4 percent. Such...
  • CIFM's Chang Shuwan (center) says the central government is determined to support the stock market. Photo: HKEJ

    Mainland stock markets set for another rally: CIFM

    - Jul 23, 2015 11:48am
    China’s stocks are poised for another period of strong growth as the central government is not likely to withdraw the massive liquidity it has injected into the market anytime soon, CIFM Asset Management (Hong Kong) Ltd. investment director Chang...
  • Slower growth in mainland tourists and structural change in their consumption has affected Hong Kong's retail sector, says Standard Chartered's Kelvin Lau. Photo: HKEJ

    Retailers remain pessimistic about industry prospects

    - Jul 23, 2015 11:13am
    Hong Kong’s retailers remain pessimistic about their industry prospects, with a survey from the Hong Kong Productivity Council suggesting that the sector’s business confidence is at three-year low. The Standard Chartered Hong Kong SME Leading Business Index...
  • Zhong Zhirong, the largest shareholder and former chairman of Glorious Property, has offered to privatize the company. Photo: HKEJ

    Sinochem unit seeks Glorious Property liquidation

    - Jul 22, 2015 10:57am
    China Foreign Economy and Trade Trust Co. Ltd., a subsidiary of Sinochem Group, has filed a lawsuit for the liquidation of Shanghai-based real estate developer Glorious Property Holdings Ltd. (00845.HK). The plaintiff filed the application with the High...
  • Hong Kong had 594 registered funds at the end of March, up from 469 in the same period last year. Ninety-one funds were approved in the five months to May. Photo: HKEJ

    Hong Kong fund assets surge to three-year high

    - Jul 22, 2015 10:53am
    Assets controlled by Hong Kong fund managers rose to a three-year high of HK$17.68 trillion (US$2.28 trillion) at the end of 2014. The figure is up 10.5 percent from a year earlier, according to the Hong Kong...
  • BOC Hong Kong's Gary Leung predicts fewer iBond investors will be willing to cash out this year. Photo: HKEJ

    Tame inflation likely to suppress iBond5 gains

    - Jul 22, 2015 10:30am
    The fifth batch of the government’s inflation-linked bonds, better known as iBond5 (04228.HK), is likely to see a weaker price growth than the previous edition because of Hong Kong’s tame inflation, estimated at only 3 percent...
  • Peter Wong says Hong Kong must enhance its competitive advantages in renminbi-related businesses. Photo: HKEJ

    HK told to boost RMB business to avoid marginalization

    - Jul 21, 2015 11:31am
    Hong Kong must step up its efforts in strengthening its advantages in the renminbi business to avoid being marginalized, Hongkong and Shanghai Banking Corp. Ltd. deputy chairman and chief executive Peter Wong said. The territory has to seek...
  • China is expected to keep the renminbi exchange rate stable as it pushes its inclusion in the SDR basket. Photo: Bloomberg

    Lenders see slightly weaker renminbi this year

    - Jul 21, 2015 10:37am
    Bankers are expecting the renminbi exchange rate to weaken slightly this year, according to a survey. Estimates put it at 6.2445 to US$1, down 0.62 percent from last year, a Hong Kong Economic Journal poll of 11...
  • The top leadership will report to chief executive Bill Winters (above) under the sweeping revamp. Photo: Bloomberg

    Standard Chartered halves business regions in steep cost-cutting

    - Jul 21, 2015 10:08am
    Standard Chartered Plc. (02888.HK) is consolidating its eight business regions into four to cut costs by US$1.8 billion by 2017. The top leadership, comprised of 13 senior executives, will directly report to Bill Winters, the bank’s new...
  • Yue Yi says all but four of 40 major capital account items have been opened up fully or partially, indicating a freely convertible Chinese currency is not far off. Photo: HKEJ

    Renminbi will be major world currency in two years, says BOCHK

    - Jul 20, 2015 10:32am
    China is expected to introduce further cross-border measures to ramp up the liberalization of the capital account and the renminbi exchange rate, according to a senior bank executive. Yue Yi, vice chairman and chief executive of...
  • China will continue to reform its exchange rate regime after significant achievements in the past decade, says Joseph Yam. Photo: HKEJ

    RMB reform to continue despite stock market volatility: Yam

    - Jul 20, 2015 10:28am
    China will continue its currency exchange rate reform, with the moves likely to be more closely aligned to market forces, according to Joseph Yam Chi-kong, former chief executive of the Hong Kong Monetary Authority. Many capital account...
  • Macau Legend, led by chairman and chief executive David Chow Kam-fai, said it will post a loss for the first half of the year. Photo: HKEJ

    Macau Legend to invest in US$200 mln Cape Verde gaming complex

    - Jul 20, 2015 10:28am
    Macau Legend Development Ltd. (01680.HK) is reportedly building an integrated resort on Cape Verde islands, an archipelagic nation off the northwest coast of Africa. The gaming and entertainment complex, which is expected to need US$200 million...

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