Date
22 September 2019

Finance

  • CIC chairman Peng Chun said international capital markets are in turmoil and the risk for assets is growing. Photo: HKEJ

    China state fund CIC cautious of US investment amid trade war

    Sep 20, 2019 3:21pm
    China Investment Corp. said on Friday the Sino-US trade war has made it more cautious about investing in the United States, after the Chinese sovereign wealth fund posted a dive in yearly profit, Reuters reports. China...
  • Traders work on the floor of the New York Stock Exchange. The entry of new exchanges may lower trading costs as the upstarts try to take business from the incumbents. Photo: Reuters

    New entrants to heat up US stock exchange competition

    Sep 20, 2019 11:20am
    At least three new US stock exchanges are expected in 2020, potentially lowering trading costs as the upstarts try to take business from the incumbents, while also adding complexity to the marketplace, Reuters reports. There are...
  • New York has extended its lead over London as the world’s top financial center, according to compilers of the Global Financial Centers Index. Photo: Bloomberg

    New York is top financial hub, London barely ahead of HK: poll

    Sep 20, 2019 10:39am
    New York has extended its lead as the world’s top financial center, with London barely holding on to second place ahead of Hong Kong as uncertainty over Brexit takes its toll on the UK capital, a...
  • San Francisco-based payments startup, co-founded by Patrick Collison, has seen its valuation jump by more than half since the start of the year. Photo: Bloomberg

    Fintech startup Stripe valued at US$35 bln in latest funding

    Sep 20, 2019 9:38am
    US payments startup Stripe said on Thursday that it is raising US$250 million in a new funding round, valuing the firm at US$35 billion. The deal marks a dramatic 56 percent surge in the company’s valuation...
  • Increased vehicle fuel efficiency and the impact of electric vehicles have led to forecasts that global oil demand may peak perhaps as soon as 2030. Photo: Reuters

    Energy transition and its impact on credit markets

    - Sep 18, 2019 12:07pm
    The energy transition is having a profound effect on global energy markets as renewable energy and global efforts to move away from a reliance on fossil fuels affect both energy demand and supply. This long-term secular...
  • FDIC chair Jelena McWilliams said large banks now have multiple checks and buffers in place, and that repealing the “inter-affiliate” margin requirement could help free up bank liquidity. Photo: Bloomberg

    Big banks welcome proposal to ease post-crisis derivatives rules

    Sep 18, 2019 10:16am
    A US banking regulator proposed easing a rule requiring banks to set aside cash to safeguard derivatives trades between affiliates, marking one of the biggest wins for Wall Street lenders under the business-friendly Trump administration, Reuters...
  • A joint venture involving Standard Chartered is among the entities that have won virtual bank licenses in Hong Kong. Photo: Bloomberg

    HK digital banks launch faces delay due to protests: report

    Sep 18, 2019 9:22am
    The launch of new online-only banks in Hong Kong is expected to be delayed in part due to anti-government protests in the city, Reuters reports, citing people with knowledge of the matter. Most of the eight...
  • HKEx CEO Charles Li (inset) has pushed a deal for the LSE Group, but has been rebuffed by the London bourse. Photo: Reuters

    Should HKEx investors be excited about the takeover bid for LSE?

    - Sep 17, 2019 10:16am
    Hong Kong Exchanges and Clearing (HKEx, 00388,HK)) unveiled a surprise US$39 billion takeover bid for the London Stock Exchange (LSE) last week, news that sparked plenty of excitement among mainland netizens as they expect the deal...
  • The Hong Kong Exchanges and Clearing has reportedly set up meetings with top investors of the London Stock Exchange over the next few weeks. Photo: AFP

    After LSE rebuff, HKEx begins investor charm offensive

    Sep 16, 2019 7:39am
    Hong Kong Exchanges and Clearing (HKEx, 00388.HK) is embarking on a three-week charm offensive with London Stock Exchange investors as the Asian trading house tries to salvage its proposed US$39 billion takeover offer, Reuters reports. LSE’s...
  • The London Stock Exchange reportedly wants to focus on completing its US$27 billion proposed acquisition of Refinitiv rather than risk it being derailed by the Hong Kong bourse, Photo: Bloomberg

    LSE board set to meet for decision on HKEx bid: report

    Sep 13, 2019 9:19am
    The London Stock Exchange’s board will meet in coming days to decide on the Hong Kong bourse’s surprise US$39 billion takeover proposal, a source close to the British company said on Thursday, as the market poured...
  • Low interest rates are good for economic growth, but one can’t say the same thing about negative rates, US Treasury Secretary Steven Mnuchin said. Photo: Bloomberg

    US to consider ultra-long Treasury bonds: Mnuchin

    Sep 13, 2019 9:15am
    The United States will issue 50-year government bonds if there is “proper demand”, and could also explore the possibility of 100-year debt, US Treasury Secretary Steven Mnuchin said on Thursday. “We are going to start with...
  • Hong Kong Exchanges and Clearing CEO Charles Li has made a daring move, but he admits he came in a bit late. Photo: Bloomberg

    HK-British corporate takeover drama: money can’t buy you love?

    - Sep 12, 2019 10:37am
    If Wednesday’s surprise announcement by the Hong Kong Exchanges and Clearing (HKEx, 00388.HK) of its proposal to acquire the London Stock Exchange (LSE) were a drama, would it be a comedy or a tragedy? Well, some...
  • HKEx appears confident its LSE proposal will face no major regulatory hurdles, but closing a deal will be anything but easy. Photo: Bloomberg

    HKEx seen facing uphill battle on US$39 bln bid for LSE

    Sep 12, 2019 10:17am
    Hong Kong Exchanges and Clearing (HKEx) unveiled a US$39 billion takeover approach to the London Stock Exchange (LSE) on Wednesday that received a cool response from investors concerned about its regulatory and financial hurdles. To prevail,...
  • The Hong Kong Exchanges and Clearing's bid to take over the London Stock Exchange comes as Britain is set to leave the European Union and Hong Kong is beset by months of political turmoil. Photo: CNSA/Bloomberg

    HKEx makes US$39 billion bid for London Stock Exchange

    Sep 11, 2019 5:55pm
    Hong Kong Exchanges and Clearing (00388.HK) has made an unsolicited US$39 billion takeover bid for the London Stock Exchange, an offer contingent on the LSE ditching its acquisition of data company Refinitiv. The combination would help...
  • Facebook's Libra cryptocurrency project is facing growing scrutiny from regulators around the world. Photo: Reuters

    FATF chief says closely monitoring Facebook’s Libra

    Sep 11, 2019 9:53am
    The Financial Action Task Force (FATF), the global anti-money laundering watchdog, is closely monitoring developments on Facebook’s planned Libra cryptocurrency, the agency’s new chief said on Tuesday. “We want to make sure that if there are significant...
  • The Hang Seng China Enterprises Index is seen as a fairly good gauge of the overall health of China’s economy. Photo: Reuters

    Are the HSCEI stocks oversold?

    - Sep 10, 2019 11:20am
    Trailing 12 months average price-to-earnings multiple of Hang Seng China Enterprise Index (HSCEI) stocks has slipped below the 8-mark last month, putting it lower than even the levels seen during the depth of the Asian financial...
  • The People Bank of China said the digital currency would strike a balance between allowing anonymous payments and preventing money laundering. Photo: Bloomberg

    China says new digital currency will be like Facebook’s Libra

    Sep 6, 2019 3:05pm
    China’s proposed new digital currency would bear some similarities to Facebook’s Libra coin and would be able to be used across major payment platforms such as WeChat and Alipay, a senior central bank officer said. Mu...
  • Fitch said it expects the “one country, two systems” framework to remain intact, but added that public discontent is likely to persist. Photo: Reuters

    Fitch downgrades HK rating amid protests

    Sep 6, 2019 12:47pm
    Global credit rating agency Fitch Ratings on Friday downgraded Hong Kong’s long-term foreign currency issuer default rating to “AA” from “AA+” following months of unrest and protests in the Asian financial hub, Reuters reports. Hong Kong’s...
  • Global consumer plays are viewed as similar to bonds but with much more attractive valuations. Photo: Reuters

    Re-rating of consumer stocks is just unfolding

    - Sep 5, 2019 3:36pm
    I’ve always been a fan of local firms because they usually have good corporate governance and are not trading at much premium. But lately, I have made the painful decision of reducing some positions to a...
  • Home Credit has a 28 percent share of China's consumer lending market. Photo: Reuters

    IPO candidate Home Credit is big in China small loan market

    - Sep 5, 2019 10:51am
    Petr Kellner, the Czech Republic’s richest man, has filed for an initial public offering in Hong Kong for his consumer lending business Home Credit. The company has an estimated valuation of over HK$100 billion. This would...