News
Tourist arrivals up 12.8% to 4.74m in June
Tourist arrivals up 12.8% to 4.74m in June
Rising number of Mainland visitors offset softening tourism from rest of Asia.
Hong Kong trails behind Singapore in ease of bank account opening for non locals
Startups, SMEs and foreign nationals lament the inefficiency.
IPO loans boost bank lending by 0.9% in June
IPO loans were estimated at $15.3b.
Approved mortgage loans down 4.8% to $40.6b in June
However, the number of applications continued to rise to 14,579.
Home prices up for 27th consecutive month in June but growth slows
A secondary-market home price index rose 1.644% in June.
Rents for posh apartments slow to 1% in Q2
A number of job losses freed up home stock.
Hong Kong's asset and wealth management business hit $24.27t in 2017
The private banking unit and fund advisory business performed strongly.
Trade tensions could slash H2 commercial and industrial property deals by 12%
Mid-range industrial units worth $10m to $10m are likely casualties.
Over 60 applicants scramble for a Hong Kong virtual banking license
This includes Standard Chartered Bank and online loan platform WeLab.
Exchange Fund income plunges 80% to $23.9b in H1 amidst trade worries
The fund’s total assets hit $4.1t.
Nearly half of students expect parents to pitch in for home purchases
However, this may still be insufficient to cover skyrocketing home costs.
Private flat supply pegged at 93,000 for the next four years
This is 3,000 less than the previous estimate.
Investment returns in Hong Kong offices plunge to thirty year low
It’s the only major market where returns are lower than a 10-year US Treasury Bond.
No such thing as home sweet home: Half of residents uninterested in buying property
Nearly 70% believe that home prices will climb in the next year.
Trade jitters dampen export growth to 3.3% in June
This comes from 12.9% expansion in May.
Hong Kong clinics brace for heated Chinese infant vaccine demand
The moves come after a Mainland biotech firm falsified data for its shots.
Trade tensions fail to rattle Hong Kong SMEs in Q3
SME sentiment tracker remained at 49.7.
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