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Bank of China (Hong Kong)

Hong Kong keeps rate steady for seventh time as traders shift focus to September for first cut

by Anas Siddiqui
Hong Kong keeps rate steady for seventh time as traders shift focus to September for first cut

The Fed’s policymakers signalled just one rate cut this year, pencilling in four reductions in 2025. That did little to douse the fervour in the stock market, as the S&P500 …

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Hong Kong stocks rise fueled by bets of stability in China property, growing US rate cut hopes

by Anas Siddiqui
Hong Kong stocks rise fueled by bets of stability in China property, growing US rate cut hopes

Hong Kong stocks gained, bucking the broader downtrend in the region, as investors remained confident about China’s economic recovery and the probability of a soft landing in its crisis-hit property …

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Hong Kong e-CNY pilot expands: residents can open digital-yuan wallets and top up via FPS, no mainland account required

by Anas Siddiqui
Hong Kong e-CNY pilot expands: residents can open digital-yuan wallets and top up via FPS, no mainland account required

“We are delighted that Hong Kong, being the first place to conduct a cross-boundary e-CNY pilot, has also become the first place outside mainland China that enables its residents to …

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Hong Kong holds base rate at 5.75% while US Fed assures market that delayed rate cuts have not been derailed

by Anas Siddiqui
Hong Kong holds base rate at 5.75% while US Fed assures market that delayed rate cuts have not been derailed

The HKMA follows the Fed’s rate decision in lockstep since 1983 by design under its linked exchange rate system to preserve the local currency’s peg to the US dollar. The …

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HSBC keeps prime rate at 5.875%, as wait for relief goes on for Hong Kong businesses, homeowners

by Anas Siddiqui
HSBC keeps prime rate at 5.875%, as wait for relief goes on for Hong Kong businesses, homeowners

Hong Kong’s biggest lender HSBC will keep its key lending and deposit rates unchanged, meaning local businesses and mortgage borrowers will have a longer wait for the cost of borrowing …

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HKMA launches one-stop SME platform to help Hong Kong’s small businesses cope with challenges

by Anas Siddiqui
HKMA launches one-stop SME platform to help Hong Kong’s small businesses cope with challenges

The Hong Kong Monetary Authority (HKMA) has launched a one-stop SME information platform on its website as part of its ongoing efforts to help small and medium-sized enterprises affected by …

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HSBC, Standard Chartered, BOCHK leave interest rates alone as borrowers eye relief later this year

by Anas Siddiqui
HSBC, Standard Chartered, BOCHK leave interest rates alone as borrowers eye relief later this year

Hong Kong’s three note-issuing banks – HSBC, Standard Chartered, and Bank of China (Hong Kong) – announced on Thursday that they will keep their lending and deposit rates unchanged after …

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Wealthy clients turn to HSBC, Manulife, Bank of China amid heightened interest in Hong Kong’s cash-for-residency scheme

by Anas Siddiqui
Wealthy clients turn to HSBC, Manulife, Bank of China amid heightened interest in Hong Kong’s cash-for-residency scheme

The scheme has garnered considerable interest, with the department receiving applications on the first day, said Alpha Lau, the director general of InvestHK, who did not reveal the exact number. …

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GBA@5: HSBC, Bank of East Asia among Hong Kong lenders cranking up Qianhai presence with eye on growth opportunities

by Anas Siddiqui
GBA@5: HSBC, Bank of East Asia among Hong Kong lenders cranking up Qianhai presence with eye on growth opportunities

“HSBC has been actively participating in Qianhai’s financial pilot schemes since the beginning, and we were one of the first banks to participate in yuan cross-border lending and the Wealth …

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GBA at 5: how Hong Kong has become the investment and insurance hub of Greater Bay Area

by Anas Siddiqui
GBA at 5: how Hong Kong has become the investment and insurance hub of Greater Bay Area

Developments like these have enticed high-net-worth individuals from the mainland to use Hong Kong as a base to manage their investments and diversify their portfolio. “I am very impressed by …

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