Financial Services
SFC slaps Huatai Financial Holdings with $800,000 fine over short selling failures
SFC slaps Huatai Financial Holdings with $800,000 fine over short selling failures
The stock broker short-selled bonus shares.
Hong Kong launches Faster Payment System in Smart Banking push
Consumers will soon be able to transfer funds instantly and without cost.
Tighter oversight pushes Chinese life insurers premiums down 24% in H1
Sales of short-term savings product were hit.
Wealthtech firms poised to snap up to 10% of wealth manager assets
Robo-advisors are steadily luring the tech-savvy mass affluent.
Bank of East Asia steps up tech partnerships to capture Mainland market
The bank has already tied up with four tech companies.
Hang Seng Bank enhances capabilities of AI-powered chatbot
‘HARO’ can now help customers manage their personal finances.
China's ultra rich set to boost Hong Kong wealth assets by 50% in 2023
HNWIs from the Mainland are edging out AuM from other APAC markets.
Hong Kong inks fintech cooperation deal with Brazil
The two central banks will share information and lead joint innovation projects.
Hang Seng Bank launches all-in-one payment collection service for merchants
Merchants may soon accept several payment methods through one integrated point-of-sale terminal.
Number of mortgage accounts up 7.6% to 532,000 in Q2
The number of mortgage inquiries also hit a three-year high.
Millennials drive credit card growth as average balance hits $39,000 in Q2
They hold a fourth of the city’s total card balances.
Fosun International to list Club Med unit in Hong Kong
The company plans to raise up to US$700m.
Hong Kong shakes up lending in long-overdue virtual banking push
Fintechs and telco firms are lining up to get a cut of the city's banking market.
Court of Final Appeal upholds regulatory action against Moody's
Moody’s published a 2011 report that flagged risks at certain Chinese companies.
Exchange Fund assets up to $4.14t in July
Both foreign currency and Hong Kong dollar assets rose.
Hong Kong and Singapore private banks wage war for wealth managers to lure Asia's crazy rich
Banks are willing to offer pay hikes between 30-45% to secure the best talent.
Hong Kong's aggregate balance expected to hold above $50b in end-September
The HKMA drained further liquidity after buying $14.57b last week.
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