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BUSINESS12m agoNo rush to T+1: Hong Kong exchange won’t hurry settlement-time change, sources sayParticipants in Hong Kong’s stock market may need to wait longer for shorter transaction settlement times, as market participants want more time to prepare for the change, according to two sources familiar with the matter. Bourse operator Hong Kong Exchanges and Clearing (HKEX) said in a consultation paper in April that it aimed to implement a so-called T+1 system – under which trades would be settled one day after transactions – in the fourth quarter of 2027, replacing the existing T+2...South China Morning Post
BUSINESS1h agoBofA drops out of talks to arrange Moonshot AI's Hong Kong listing: reportBank of America has reportedly withdrawn from discussions to arrange Moonshot AI's public listing in Hong Kong. This development indicates a change in the financial plans for Moonshot AI's market entry.Seeking Alpha Tech
BUSINESS4h agoDoes Hong Kong’s economy serve the people or profit?China has lifted nearly 800 million people out of extreme poverty, arguably the greatest achievement in poverty reduction in human history. Even so, no mainland Chinese economist has won the Nobel Prize in Economic Sciences. Across the Pacific, the United States has produced about 75 per cent of Nobel economics laureates, even as its economy staggers under mounting public debt, chronic fiscal deficits, and recurring financial crises and government shutdowns. Of the 99 economics laureates ever...South China Morning Post
BUSINESS5h agoWhy did Hong Kong’s 11 Skies fail and can the megaproject be rescued?The roar of plane engines and the hustle and bustle at Hong Kong International Airport’s Terminal 2 present a stark contrast to the pin-drop silence at the adjacent 11 Skies commercial complex. A South China Morning Post reporter who travelled between the two places in early October found minimal footfall at the shopping centre, with the bright and airy environment of the airport terminal replaced by dim, stuffy and boarded-up corridors, and poor air conditioning amid the simmering outdoor...South China Morning Post
BUSINESS1d agoApec a chance for Hong Kong to earn its place in China’s tourism boomOver the coming weeks, Hong Kong and Shenzhen will host two major gatherings of Asia-Pacific decision-makers. Hong Kong’s first Apec Finance Ministers’ Meeting takes place on October 20-21, with around 500 visitors expected, while Shenzhen hosts the Apec Economic Leaders’ Week next month. These Asia-Pacific Economic Cooperation forum meetings will bring international visitors to two neighbouring cities at the centre of China’s Apec year. For Hong Kong’s tourism industry, they offer a timely...South China Morning Post
BUSINESS1d agoChina finance minister to deliver opening speech at Apec meeting in Hong KongChina’s finance minister, Lan Foan, will deliver a keynote speech, while presentations by three prominent financial institutions will be among the highlights of next week’s Apec meeting in Hong Kong, the South China Morning Post has learned. A draft agenda obtained by the SCMP on Monday listed a series of programmes for finance ministers from the Asia-Pacific Economic Cooperation’s 21 member economies on October 20 and 21 at the Hong Kong Convention and Exhibition Centre in Wan Chai. Sources...South China Morning Post
BUSINESS1d agoHong Kong to expand indices, derivatives and yuan-denominated products: HKEX CEOHong Kong Exchanges and Clearing (HKEX) is planning further measures to boost market liquidity, attract more international investors and expand the use of China’s currency, including through yuan-denominated gold futures and stock trading, according to a blog post by its CEO on Monday. The plans come as the city steps up efforts to reinforce its position as a leading international financial centre, following priorities outlined in the government’s policy address and the city’s five-year...South China Morning Post
BUSINESS1d agoFew Hong Kong investors take interest in listing by Africa’s top phone maker TranssionShenzhen Transsion Holdings drew a lukewarm response for its HK$3.36 billion (US$428 million) Hong Kong share offering, heightening worries over market sentiment for new listings in the fourth quarter. The maker of Africa’s bestselling phones closed its bookbuilding on Monday, with preliminary figures showing the offering attracted about 14,000 applications and was oversubscribed roughly 3.5 times, according to people familiar with the matter. Retail participation in Hong Kong initial public...South China Morning Post
BUSINESS2d agoThe game changer in Hong Kong’s gold ambition? Shenzhen’s jewellery hubBeijing is building a gold-backed monetary architecture to accelerate yuan internationalisation. In this three-part series, Part 1 traces China’s path as a gold superpower, while Part 2 explores the crucial role of Hong Kong’s offshore vaulting infrastructure. Hong Kong’s ambition to become an international gold trading centre rests not only on serving the nation’s financial needs, but also on China’s booming consumer market for gold. As the world’s largest gold producer and importer, China...South China Morning Post
BUSINESS2d agoHong Kong must ease listing rules to attract more angel funds and start-ups: HKEIAHong Kong would need to ease its listing rules and transaction requirements to attract more angel funds and become a hub for start-ups to go global, according to a leading industry body in the city. The city has only around 100 active angel funds – private investment vehicles targeting very early-stage innovative enterprises. This was far fewer than Shenzhen, which had about 400 such institutions, according to Samson Tam Wai-ho, honorary chairman of the Hong Kong Electronic Industries...South China Morning Post
BUSINESS2d agoLaopu Gold deepens Hong Kong footprint with entire-floor lease at Central tower: sourcesBeijing-based jeweller Laopu Gold has leased an entire mid-floor at One Exchange Square in Central to support its global expansion, according to two sources familiar with the matter. The brand was taking around 13,000 square feet at the flagship Central tower, which houses Hong Kong Exchanges and Clearing (HKEX), one source said. The deal comes as mainland consumer firms and financial institutions increasingly anchor their presence in Hong Kong’s core business district. Recent transactions on...South China Morning Post
BUSINESS2d agoWhy are mainland China’s tax officials suddenly so interested in my Hong Kong MPF?For the past few months, this newspaper has extensively covered China’s ongoing clampdown on tax avoidance, especially its push to tax the income of super-rich families held in offshore trusts. We never expected to become targets of the campaign ourselves. But there have been signs in recent weeks that officials are starting to take an interest even in the incomes of South China Morning Post journalists, with several of us being contacted by the tax man. First, a colleague with our Beijing...South China Morning Post
BUSINESS3d agoHuanggang Port a ‘milestone’ for integrating Hong Kong, Greater Bay Area: John LeeThe revamped Huanggang checkpoint is a “critical milestone” for the connectivity of the Greater Bay Area, Hong Kong’s leader has said, as the city and Shenzhen count down to its launch on Monday. Speaking at a ceremony on Sunday, Chief Executive John Lee-Ka Chiu said the Huanggang control point was a “landmark project” built and shared through the joint efforts of Hong Kong and Shenzhen. “Hong Kong unveiled its first five-year plan last month to proactively align with the national 15th five-year...South China Morning Post
BUSINESS3d agoHong Kong finance chief highlights 4 priorities ahead of Apec meeting this monthThe Apec finance ministers’ meeting in Hong Kong this month will focus on fiscal policies that support livelihoods, digital infrastructure financing, inclusive finance and young financial talent, underlining the city’s role as an international financial centre, the finance chief said. “These four priorities are areas of strength for Hong Kong and fields in which we can make an active contribution,” Financial Secretary Paul Chan Mo-po wrote in his weekly blog on Sunday. “Hosting the finance...South China Morning Post
BUSINESS3d agoAdmission scores fall for Hong Kong physiotherapy courses amid jobs crunchAdmission scores for physiotherapy degree programmes at three Hong Kong tertiary institutions fell by as much as 10 per cent this year compared with 2025, amid gloomy career prospects in the sector, the latest data shows. The decline prompted the professional body for physiotherapists to call on the government to halt healthcare funding cuts in the next budget, saying they had contributed to a jobs crunch in the sector. Across four institutions, 23 per cent of students admitted to physiotherapy...South China Morning Post
BUSINESS3d agoGuangdong yachts to sail into Hong Kong from Friday under southbound schemeGuangdong-registered yachts will be allowed to sail into Hong Kong waters from next Friday under a new travel scheme, the city’s transport minister has confirmed. Writing in her weekly blog on Saturday, Secretary for Transport and Logistics Mable Chan said the maiden voyage ceremony for the Southbound Yacht Travel Scheme would be held on launch day. “Building on the groundwork laid by the Northbound Yacht Travel Scheme, the maiden voyage ceremony for the Southbound Yacht Travel Scheme marks a...South China Morning Post
BUSINESS4d agoHow to zoom through new Huanggang Port crossing at Hong Kong’s borderThe Huanggang Port will open on Monday after more than six years of redevelopment and rounds of preparatory drills. The 24/7 checkpoint will be the first to adopt the “joint clearance” model, where passengers can complete both departure and entry clearance in a single three-gated automated channel. As the final checks are carried out, the South China Morning Post explains what you need to navigate the new checkpoint. 1. Do I need to register for ‘joint clearance’? Yes, Hong Kong and mainland...South China Morning Post
BUSINESS4d agoWorker prospects in Hong Kong hair, beauty sector not cut and dried amid staff shortagesHongkonger Terrence Wu Chung-ting puts on an apron, picks up a comb and massages hair essence into a client’s scalp during a treatment for hair loss. But eight years ago, Wu’s job could not have been any more different. A finance graduate from one of the city’s top universities, he was then a marketer for beauty products and focused on sales. But when he saw untapped potential in Hong Kong’s hairdressing industry, he boldly switched careers from a white-collar to a blue-collar profession,...South China Morning Post
BUSINESS4d agoHong Kong outlines new liquidity reforms as US market rally pulls funds awayHong Kong’s securities watchdog is renewing its push to boost market liquidity, setting out further reforms as emerging markets grapple with capital outflow pressure amid a rally in US equities and a strengthening dollar. Speaking at a conference organised by the Asian Securities & Financial Markets Association (Asifma) on Friday, Julia Leung, CEO of the Securities and Futures Commission (SFC), outlined measures ranging from extended trading hours and shorter settlement cycles to cross-market...South China Morning Post
BUSINESS4d agoDFI Retail Group says it will continue to invest in Hong Kong supermarketsHong Kong-headquartered DFI Retail Group, which owns and operates the city’s largest supermarket network, says it will continue to invest in new stores even though consumers remain cautious. Darren Chan, the group’s managing director for food in Hong Kong and Macau, said DFI – whose supermarket chains include Wellcome and Market Place in Hong Kong – was also “looking for opportunities to strengthen” its network where there was “clear customer demand and attractive long-term returns”. “We invest...South China Morning Post
BUSINESS5d agoCentral retail shop bought by Swiss heir in ‘rare’ Hong Kong market moveIn a rare market move, a long-established local developer sold a Central retail shop that was held for over 50 years to an heir of Swiss underwear maker Triumph, according to data from the Land Registry, a deal analysts have called “highly unusual”. The use of international capital to acquire local retail assets in Hong Kong is uncommon. Triumph International did not immediately respond to a request for comment from the South China Morning Post. The transaction involved a ground-floor shop at...South China Morning Post
BUSINESS5d agoAmid battle for AI edge, Hong Kong presses HSBC over Singapore hub decision: sourcesAs Hong Kong and Singapore compete for leadership in businesses ranging from foreign exchange trading to wealth management, the battleground has extended to artificial intelligence, with both cities vying to attract investment from HSBC Holdings and other major corporations, according to industry players. The issue came into focus after the Hong Kong Monetary Authority (HKMA) questioned HSBC about its decision to set up an AI centre in Singapore, despite Hong Kong being its single largest...South China Morning Post
BUSINESS5d agoHong Kong IPO boom at risk as cornerstone backers get cold feet, sources sayExuberance among cornerstone investors in Hong Kong’s booming initial public offering (IPO) market seems to be fading, forcing some issuers that had hoped to list this month to postpone their offerings. With more than 60 per cent of new listings in the third quarter now trading below their issue prices, cornerstone investors – who typically receive guaranteed allocations in exchange for holding shares for six months – are reconsidering whether to subscribe to coming deals, according to people...South China Morning Post
BUSINESS6d agoMainland Chinese arrivals to Hong Kong beat ‘golden week’ forecast in just 6 daysMainland Chinese visitor arrivals in Hong Kong exceeded the government’s forecast for the entire National Day “golden week” holiday in the first six days, as major shopping centres and hotel operators reported brisk business. The city recorded 1.3 million mainland visitor arrivals over the first six days of the week-long break, up by 11.6 per cent from the same period last year and surpassing the government’s forecast of 1.29 million for the entire holiday, according to Immigration Department...South China Morning Post
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