News

Central office vacancy rate hits three-year high of 2.6% in July
21 Aug 19
The occupier market contracted to 56,100 sqft due to subdued leasing demand.
Composite interest rate down to 0.94% in July
21 Aug 19
This is due to decreases in weighted funding costs of deposits and interbank funds.
Hong Kong inflation remains unchanged at 3.3% in July
21 Aug 19
Hungry Hongkongers won’t be happy with the inflation rate of 12.8% for food prices.
Jobless rate up to 2.9% in May to July 2019
21 Aug 19
This translates to an additional 3,300 unemployed people.
Economic conditions in H1 weakest in a decade: government economist
19 Aug 19
Real GDP is expected to grow by a dismal 0-1% by the end of the year.
Total export volume down 5.2% in H1
16 Aug 19
Exports fell for the fourth straight month in June.
64% of Hong Kong investors failed to achieve objectives: survey
16 Aug 19
Knee-jerk decisions during market volatility could hamper investors from achieving their goals.
Mid-year population up 1% to 7.52 million
15 Aug 19
The number of residents rose by 73,100.
Far East Consortium unit clinches Kai Tak site for $2.45b
13 Aug 19
It is designated for non-industrial use.
A fifth of old Hong Kongers still have part-time jobs: survey
13 Aug 19
Blame Hong Kong's notoriously high cost of living.
Hong Kong banks' loan growth hit 1.1% in June
13 Aug 19
Loans for mortgages, building, and construction drove quarterly gains.
Hong Kong gears for 5G rollout in 2020
12 Aug 19
Around 1,000 government premises will open for applications.
Voluntary turnovers rates in tech hit 13.9% in Q2
11 Aug 19
Local turnover rates are higher than those in India, Japan and Taiwan.
A third of Hong Kongers spend $746 on monthly subscription services
9 Aug 19
35% have been charged with bank fees, most of them because they forgot to pay.
Hong Kong and China enterprises invest in Peru projects
9 Aug 19
MOUs include investments in energy, coffee trade, and mining projects.
Central still the world's priciest office market for fifth consecutive year
8 Aug 19
Occupancy costs run at $2,665.8 psf per annum.
Possibility of recession looms for Hong Kong: Finance Chief
8 Aug 19
Ongoing social unrest and the escalating trade tensions place downward pressure on economic growth.
Property sales crash 24.6% to $54b in July
8 Aug 19
Buyers remain hesitant to purchase property amidst an uncertain economic environment.
Year-end retail sales may fall by up to 8.1% as protests ravage Hong Kong
8 Aug 19
The sales decline may be even worse than the 2014 Occupy Movement.
How YouTrip is taking away the pain of overseas payment
6 Aug 19
The fintech startup helps its users save up to 3.5% on transaction fees and can even go as high as 5% in some cases.
Bill Gates-backed biotech in diagnostic push
6 Aug 19
PHASE Scientific's product portfolio has expanded to include major infectious diseases such as hepatitis and influenza.
ICW on digitising the supply chain
6 Aug 19
The firm works by connecting various international laboratories, making use of its big databases, artificial intelligence and team.
Restaurant receipts down 0.4% to $28.7m in Q2
6 Aug 19
Receipts of bars, Chinese restaurants and non-Chinese restaurants fell during the quarter.
Prudential ties up with telemedicine firm MyDoc to launch digital health app
6 Aug 19
Pulse will provide health tools and consultations for 11 markets in Asia.
PMI sinks to decade-low 43.8 in July
6 Aug 19
This is due to sharp declines in both business activity and new orders and fall in input stocks.
Retail sales fall 6.7% to $35.2b in June
5 Aug 19
Sales will likely be subdued due to the weak economic outlook and ongoing demonstrations.
Monthly gender pay gap widens to $6,500
2 Aug 19
On average, women are earning less despite making up half of the workforce.
GDP growth holds firm at 0.6% in Q2
2 Aug 19
This is due to weak performance of investments and low external demand.
Nano flats supply to surge 60% in the next two years: study
31 Jul 19
It will account for roughly 5% of the total new private housing supply in 2019.
Luxury retailers halt expansion plans as sales weaken
31 Jul 19
As a result, non-luxury retailers are moving on in core areas outside Central.
Grade-A office rents in Hong Kong Island up 1.2% in June
31 Jul 19
Tenants snapped up office spaces sized over 15,000 sqft.
Kai Tak site sold for $12.74b in cheapest land sale in three years
30 Jul 19
A joint venture led by Wheelock Properties and COLI bought the site.
Hong Kong trade deficit narrows to $244.2b for H1
29 Jul 19
Total trade exports and imports decreased by 3.6% and 4.5% in H1.
4,800 private flats completed in Q2
29 Jul 19
About 93,000 flats will be available in the next three to four years.
Hang Seng Bank adds forex functionality to AI-powered chatbot
29 Jul 19
Users can request data on current rates and detect nearby FX ATMs.
Skyrocketing rents hit Hong Kong retailers hard
24 Jul 19
Retailers are burdened by leasing costs as high as $20,864 annually.
Home sales crashed 44% to 4,627 in May amidst launch drought
24 Jul 19
A property at Mount Nicholson on the Peak changed hands for $916m.
Less Hong Kongers expecting home prices to rise
24 Jul 19
The number of respondents forecasting home prices to grow fell to 36% from 42%.
Inflation hits 3.3% in June
23 Jul 19
Surging pork prices drove inflation levels up.
Firms expect business situation to worsen in Q3: survey
22 Jul 19
Retail, accommodation and food services, and real estate sectors are bracing for the worse.

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