News

Hong Kong April total imports up 6.1%, exports up 4.1%

Hong Kong April total imports up 6.1%, exports up 4.1%

A visible trade deficit of $42.4bn, 14.4% of the value of goods imports, was recorded.

Fuel surcharges fly

Levies are now up to $236 and $1,124 for short- and long-haul flights.

HK will remain the dominant offshore RMB centre for now: HSBC

This amidst possible establishment of Singapore as a second offshore RMB trading hub.

Hong Kong banks’ sales process needs improvement

Monetary Authority and SFC regularly supervise banks to ensure that their duties of disclosing accurate and adequate information and presenting balanced views about investment products are practised.

Hong Kong’s first quarter exchange fund yields $24.2bn

Monetary Authority said Hong Kong’s interest-rate cycle and capital flow will be affected by the US’ quantitative easing policy.

April new mortgage loans drawn down falls 12% to HK30bn

The proportion of new mortgage loans priced with reference to the Hang Seng Interbank Offered Rate slid to 89.8% from 91.7% in March.

Cathay to sponsor int’l students to HK and Mainland China

The airline company will invite 40 students to participate in an eight-day programme about environment conservation.

Hong Kong property market under close watch

The government tries to ensure stable and healthy development of the property market, which is at risk of a property bubble with low interest-rates and a capital overflow.

Wai Yuen Tong Medicine Building in Kowloon Bay for sale

Aside from the property earning secure rental income by the long period of tenancy agreement of Wai Yuen Tong, the property is also in a prime office and retail location.

MGM Hospitality to expand in Hong Kong

Aside from Hong Kong, the company plans to enter in 7 other Asian countries through its Bellagio, MGM Grand, and Sky Lofts brands.

HKMA warns of deposit and lending rate increase

The supply and demand of the Hong Kong dollar in the local banking system is the key factor behind the change in deposit and lending rates.

Kaseya to acquire Intellipool

The purchase is expected to further Kaseya’s move into network performance monitoring.

URA to begin Ma Tau Wai Road-Chun Tin Street lot acquisition

Owners of the 3,377 square metres project area will be offered $9,785 per sq.ft. while its 143 tenants and owners have so far been given assistance.

First quarter credit card receivables down 4.4%

Yet the amount of borrowing by customers using their credit cards up 0.2% at the end of March.

Hong Kong April foreign assets up by $27.5bn

The monetary base amounted to $1.05tn, while claims on the private sector, reached $134.9bn and foreign liabilities, $500mn.

Galaxy Macau opens as Macau's newest major attraction

The "New Palace of Asia" welcomed thousands of guests in its official opening on 15 May.

SFC orders Core Pacific-Yamaichi International to repurchase Lehman-linked products

The price would be equal to the principal amount invested by the customer minus any coupon payments received.