Economy

Government rolls out subsidy for precious metals trading industry
13 Jul 20
This is said to provide relief to members and practitioners registered with CGSE.
APAC's HNW wealth up 7.9% in 2019
9 Jul 20
The region fell behind the average global HNWI growth rate despite robust market performance.
Employment Support Scheme to disburse fifth batch of wage subsidies
8 Jul 20
This batch will receive an average wage subsidy of about $460,000.
Hong Kong ranked as sixth priciest market for expats globally
6 Jul 20
Prices dropped amidst a double whammy of the political unrest and the pandemic.
Local startup scene attracts overseas founders to set up in Hong Kong
6 Jul 20
Startups are getting a lot of opportunities from various subsidies and partnerships.
Hong Kong's IPO market reached $87.5b in H1 2020
6 Jul 20
This is a 22% increase from the same period in 2019.
Hong Kong, Thailand establish special travel arrangement
1 Jul 20
It aims to explore relaxation measures to resume cross-boundary business exchange.
Second batch of Employment Support Scheme subsidies released
30 Jun 20
Employers received a total of $6.5b to get through from June to August.
Average pay rose 2.2% in March
30 Jun 20
Only 39% of the companies reported a decline in wage rates.
Exports down 7.4% in May
30 Jun 20
Exports to Asia as a whole went down by 4.6%, led by the 45.5% drop in the Philippines.
Hong Kong crowned as most financial literate market globally
30 Jun 20
Locals’ financial literacy improves albeit weak money behaviour.
Inflation up 1.5% in May
24 Jun 20
Price growth of pork, vegetables and private housing rentals were weaker.
Balance of payments surplus more than doubled to $25.8b in Q1
24 Jun 20
However, gross external debt rose $53.5b.
Registration for cash payout scheme commences
23 Jun 20
Those that digitally applied for the scheme before end-June will receive the cash by 8 July.
GNI contracted 7.1% to $679b in Q1
17 Jun 20
Investment income inflow and outflow both fell.
Business receipts post double-digit declines in Q1
15 Jun 20
Receipt values of tourism, convention, and exhibition services plunged 78.4% in Q1.
Hong Kong's rich brace for ‘worst-case scenario'
15 Jun 20
The wealthy are opening offshore bank accounts and eyeing overseas property.
Hong Kong's Possible Loss of Special Status Reiterates Singapore's Stability
11 Jun 20
Hong Kong has taken a series of unfavourable hits in the last year, their unfortunate magnitude clear to see for the watching eyes of the world....
Hong Kong is still the world's priciest market for expats
10 Jun 20
Currency movements measured against the US dollar drove up the cost of living.
PMI improves to 43.9 in May but business outlook remains bleak
4 Jun 20
Firms are still worried about the long-term effects of the pandemic.
Philippines' manufacturing PMI rose to 40.1 in May
3 Jun 20
Easing of measures helped businesses to restart operations.
Businesses adapt to the time of Corona
31 May 20
Hong Kong business leaders reveal how they are coping, and adapting, to the new environment.
Startup funding goes low key amidst COVID-19 and social unrest
31 May 20
The total value of startup deals hit $9.84b, a 39% YoY drop compared to last year.
Rich Chinese shun Hong Kong to seek asset safety elsewhere
29 May 20
Some are looking to move their offshore wealth base to Singapore and Switzerland.
SGX plunges to 17-year low as MSCI signs pact with HKEX
28 May 20
The move deals a blow to SGX, which considers the Hong Kong bourse one of its main rivals.
Inflation eases to 1.9% in April
26 May 20
This was partly attributed to a smaller climb in private house rents.
Exports down 3.7% in April
26 May 20
Exports in non-metallic mineral manufactures led the decline.
Nearly half of APAC firms stray from due diligence checks
21 May 20
This comes as companies struggle to monitor third-party risks during the pandemic.
SEA VC funds accumulate $1.3b in additional assets
21 May 20
Singapore and Indonesia dominated the VC fundraising market.
Unemployment rate widens to 5.2% in February-April
20 May 20
This is the highest figure recorded in over a decade.
Japan's GDP growth could contract 5.2%
19 May 20
Economy activity is expected to suffer despite restrictions being lifted in prefectures.
Thailand's GDP to maintain 4% contraction
19 May 20
This comes as exports, public consumption, and investment dragged on growth.
Export volumes down 9.1% in Q1
18 May 20
Volumes to the US led the decline.
GDP contraction widens to 8.9% YoY in Q1
18 May 20
The decline is said to be the worst drop on record.
Hong Kong amongst the last to recover from COVID-19: analyst
13 May 20
The region will likely go back to its pre-COVID levels by Q1 2021.
GDP growth drops 8.9% YoY in Q1
5 May 20
This is due to the weak performance in both domestic and external demand.
Exports down 5.8% to $323.6b in March
29 Apr 20
Exports to India, Thailand and Singapore posted double-digit declines.
Singapore and Hong Kong will be the most impacted amidst pandemic: Moody's
28 Apr 20
Both markets are deemed export-dependent.
Almost half of senior managers expects business situation to be worse in Q2
24 Apr 20
Accomodation and food services worst hit amongst all sectors.
Inflation up 2.3% YoY in March: C&SD
24 Apr 20
This is attributed to the rents paid and waived by the government.

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