Financial Services
Hong Kong financial services market grows 60%
Hong Kong financial services market grows 60%
This was due to the recovery of the city’s overall economy.
Money woes break hearts for 1 in 3 couples: survey
Spending too much money and differences in saving habits were the top dealbreakers.
Mortgage loans down 12.2% to $21.8b
Applications also fell by 12.2% MoM to 5,919.
The value of residential loans approved in August reached $21.8b, a 12.2% decrease from July, the Hong...
PwC urges Hong Kong to adopt three-pronged approach for financial resilience
The strategy focuses on recouping capital, enhancing enterprise and talent attraction, and embracing opportunities in the digital economy.
HK ranks 3rd in global financial centres index
It also ranked first in the Asia Pacific region.
Hong Kong has climbed to third place in the latest Global Financial Centres Index 36 Report from...
HKMA reduces base rate to 5.25% in response to US Fed rate cut
The US Fed imposed a 50bps cut to its federal funds rate.
Hong Kong leads crypto market growth in Eastern Asia at 85.6%
The growth was fueled by the country’s supportive regulatory frameworks.
HK launches $10b scheme to boost smart production facilities
The government will provide the funding through investments on a 1:2 basis.
Hong Kong ranks second most crypto-friendly country, leading in economic stability: report
Hong Kong ranked first in one of six parameters in the index.
Foreign currency reserve assets reached US$423.4b in August
This is higher than the US$419.1b recorded in July.
9 in 10 GBA companies see Hong Kong as a key sustainable development facilitator
99% of Mainland businesses committed to sustainable investment choose Hong Kong as a source for related professional services
Gen Z consumers, travel spending boost credit market growth in Q2 2024
GDP and export growth also supported the stable credit market in Q2 2024.
IDA bags $46.8m funding to launch first fiat-referenced stablecoin
The firm anticipates mainnet launch before year-end.
Mortgage loans up 1.5% MoM in July
Mortgage loans approved in July total $24.8b.
HKMA launches sandbox to accelerate tokenisation adoption
The sandbox will facilitate interbank settlement using experimental tokenised money.
MTR rolls out contactless payment for Mastercard holders
Each station in the MTR heavy rail network, except Airport Express stations, has at least two entry/exit gates with contactless payments.
Credit card receivables fall 0.2% QoQ to $151.2b in Q2
Year-on-year, however, it rose by 4.9%.
Read Here
Advertise
Sign Up
Commentary
Don’t let ESG gaps affect your asset’s value