Hong Kong Economy

Horizon Robotics targets $696 mn Hong Kong IPO, city's largest in 2024

If successful, the IPO will be the largest in Hong Kong in 2024, eclipsing China Resources Beverage which began book-building on Tuesday for its up to $650 million listing

Hong Kong braces for Storm Nalgae's impact; businesses forced to close

Severe tropical storm Nalgae edged closer to Hong Kong on Wednesday and forced businesses to close, but a finance summit that's meant to restore the city's image as an international financial hub pressed ahead. As the city braced itself, temporary shelters were opened and theme parks were closed. The Hong Kong Jockey Club scrapped the evening's horse race. The Hong Kong Observatory raised its No. 8 typhoon signal, the third-highest warning under the city's weather system, Wednesday afternoon as Nalgae's maximum sustained winds hit 90 kilometres (56 miles) per hour. The warning, which prompted workers to return home, would remain in force until 6 pm. Whether the signal would be downgraded later would hinge on the strength of the storm and its distance from the city, the observatory said. Nalgae killed more than 130 people in the Philippines days ago before moving closer to China's southeastern and southern coastal regions. Hong Kong, a former British colony, returned to China's rule

China property stocks, bonds rally post report of $85 bn support from banks

CIFI Holdings Group Co., KWG Group Holdings Ltd. and Agile Group Holdings Ltd. were the top gainers in Hong Kong, up more than 10% each.

Evergrande's Hong Kong headquarters worth $1 bn taken over by a receiver

The property was used as security for HK$7.6 billion ($968 million) in loans made by parties including Citic Bank International in 2020, separate documents at the Companies Registry website show

Hong Kong eases quarantine on entry in bid to boost business activity

Hong Kong has slashed its Covid-19 quarantine requirement for overseas arrivals from seven to three days in a bid to attract business travellers and kick-start economic activity

New house in Hong Kong sells for $111 million, the most this year

A new house in Hong Kong was sold for HK$870 million ($111 million), the highest price this year, buoying the city's slowing luxury market

Hong Kong suspends transit flights from most of the world due to Covid-19

The move comes as the city has seen around 50 cases of the fast-spreading Omicron variant.

Hong Kong legislative polls close amid lower voter turnout

The semi-autonomous territory was rocked by pro-democracy protests in 2014 and 2019 that were crushed by the security forces

Hong Kong's Covid policy undermining financial hub status: Industry group

The group warned on Monday that Hong Kong's zero-Covid policy threatens city's financial hub status

Left bankless because of US sanctions, Lam says she has piles of cash

US has said any bank in biz with her will lose access to the US financial system

Hong Kong's foreign exchange intervention highest since 2009 crisis

The Hong Kong Monetary Authority (HKMA) sold HK$10.9 billion ($1.41 billion) in interventions in Hong Kong and US trading hours

Motley Fool to leave Hong Kong, citing national security law: Report

Chan cited the flaring of the anti-Beijing protests last year, followed by the national security law and the ongoing decoupling between the US and China as factors

Covid-19 impact: Hong Kong, Singapore property will part ways

Hong Kong's real estate investment market is as large as its gross domestic product; Singapore's half

Hong Kong financial firms step up compliance hiring amid US sanctions

Demand for compliance staff has risen by as much as a third from a few months earlier, two headhunters said

Hong Kong bans Brazil's Aurora chicken imports over Covid tests scheduled

The confirmation of the ban comes on the same day the privately-owned company agreed to test 11,000 workers for coronavirus starting on Aug. 21 at four of its plants

Hong Kong economy shrinks 9% in latest quarter over Covid-19, security law

Tourist arrivals fell following protests that began in June 2019 over a proposed extradition law and expanded to include demands for greater democracy and other grievances

Hong Kong's 'specialness' being eroded, zero growth plausible, says S&P

Hong Kong's long-term economic prospects faced risks from the deterioration in the US-China relationship, resulting in a decoupling of the US dollar and Chinese financial systems, S&P said

Covid-19 impact: Hong Kong's bankruptcy filings jumped to 17-yr high in May

The total number of bankruptcy filings in the first five months was 3,605 - 12.4 per cent higher than 3,207 a year earlier

Hong Kong leaders back new security law, say Trump 'wrong' for curbing ties

Trump told reporters at the White House that China's move on Hong Kong was a tragedy for the world

Trump moves to strip Hong Kong of its special treatment to punish China

More than 1,300 US companies have offices in Hong Kong and provide about 100,000 jobs. In the past decade, the US' trade surplus with Hong Kong has been the biggest among all its trading partners