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BUSINESSJun 25IPO Connect pitched as Hong Kong’s next move to boost finance hub role. But hurdles loomHong Kong is seizing every opportunity to consolidate its role as a global financial centre, leveraging unique advantages and national strategies. This piece, the second in a miniseries focusing on the city’s financial industry ahead of the handover anniversary, explores the likelihood of an “IPO Connect” that could inject much-needed liquidity into the market and deepen international investors’ access to top-tier China assets. At every summer’s Lujiazui Forum, attended by China’s top financial...South China Morning Post
BUSINESSJun 25HKEX pushes deeper into index business as AI reshapes Hong Kong marketHong Kong Exchanges and Clearing (HKEX) is expanding into the index business with plans to launch more proprietary benchmarks and related investment products, as traditional market gauges have lagged regional peers during the artificial intelligence-driven technology rally. The operator of Hong Kong’s stock exchange will debut the first exchange-traded fund (ETF) tracking its HKEX Tech 100 Index on Friday. The index, launched on December 9, tracks the 100 largest technology companies listed in...South China Morning Post
SCI & TECHJun 25Why Hong Kong’s bilingualism is uniquely indispensable in the AI eraLast week, while preparing a lecture on the visual culture of the Global South, I caught Google’s Gemini in a double hallucination. Cross-referencing a historical event between English and Chinese data sets, I found the English AI to be authoritative but inventing citations. In Chinese, the fabrications vanished but so did global context, replaced by an insular perspective. Disturbingly, the system cloaked Chinese content in English citations, creating a deceptive authenticity that made the...South China Morning Post
WORLDJun 25Hong Kong porn star Erena So arrested over promoting overseas gambling websiteHong Kong police have arrested model and porn actress Erena So Hoi‑lam on suspicion of promoting or facilitating bookmaking after she appeared in advertising videos for an overseas gambling website. Officers from the force’s West Kowloon regional crime unit detained So in Sham Shui Po on Thursday, saying they had uncovered an illegal betting website that had hired local personalities as brand ambassadors to attract gamblers. So was later released on bail and must report back to police in late...South China Morning Post
WORLDJun 25Hong Kong is world’s most unequal society for wealth distribution, study findsHong Kong has become the world’s most unequal society in terms of wealth distribution, a study has found, as the core drivers of income inequality in the city have shifted from wage disparities to capital concentration, reducing social mobility. The findings of the study, which analysed the evolution of income and wealth inequality in the city between 1981 and 2021, were presented by Yang Li, a research fellow at the World Inequality Lab at the Paris School of Economics, during a seminar hosted...South China Morning Post
DISASTERJun 25Hong Kong police bomb squad dispatched to check suspicious object in Quarry BayHong Kong police’s bomb squad has been called in to investigate a suspicious object discovered in Quarry Bay, with a source saying it was likely to be “mud, a rock or concrete”. The force was alerted at 4.52pm on Thursday to a suspicious object discovered on Pan Hoi Street in Quarry Bay. “The explosive ordnance disposal bureau has been summoned to investigate the object,” a spokesman said. A source said the object was not a bomb. “It could be mud, a rock or concrete - something of no value,” the...South China Morning Post
BUSINESSJun 25Hong Kong exports rise by nearly 41% in May as AI keeps fuelling demandThe recent bumper growth in Hong Kong exports spilled into May, expanding by 40.8 per cent year on year, as artificial intelligence-related products continued to fuel already robust demand overseas. Provisional figures released by the Census and Statistics Department on Thursday showed that the total value of exports rose to HK$611.2 billion (US$77.95 billion) last month, following a nearly 43 per cent increase in April. The May figure marked the second month in a row that export growth exceeded...South China Morning Post
BUSINESSJun 25UBS prepares to open its next chapter of growth with a new Hong Kong home in West KowloonWith the formal handover of its new Hong Kong premises already complete and plans well under way to start moving all local staff there in the fourth quarter of this year, UBS, the world’s largest wealth manager, is showing long-term confidence in the city’s future as an international financial centre. The new headquarters is located near the West Kowloon Cultural District, one of the world’s largest cultural and arts quarters spanning 40 hectares (99 acres) and home to renowned institutions such...South China Morning Post
WORLDJun 25Hong Kong parents plead as baby Danny held in care and daughter may not return from SwedenHong Kong social welfare authorities have classified baby Danny as a “high-risk” child and recommended he remain in protective care, while Sweden has moved to permanently transfer custody of his elder sister Lily to a foster family, according to the children’s parents. The developments come ahead of a hearing at West Kowloon Juvenile Court on Friday over a protection order for Danny, the two-month-old whose home birth and delayed registration triggered a child neglect investigation earlier this...South China Morning Post
BUSINESSJun 25Southbound Stock Connect flows surge to record US$152b driven by Hong Kong’s IPO revivalSouthbound Stock Connect flows, through which mainland Chinese investors buy Hong Kong listed shares, hit a record high in the past year, reflecting strong confidence in the city’s market on the back of a booming pipeline of initial public offerings (IPO). In the 12 months to March this year, mainland investors snapped up HK$1.19 trillion (US$151.8 billion) worth of shares in Hong Kong, according to the Securities and Futures Commission’s (SFC) annual report published on Wednesday. Average daily...South China Morning Post
POLITICSJun 25Power of Hong Kong’s new national security regulation must be exercised prudentlyThe recent enactment of the Safeguarding National Security (Procedural Matters) Regulation has generated significant interest and commentary on Hong Kong’s legal landscape. It is recognised that maintaining national security is of paramount importance and that there is a constitutional responsibility on the Hong Kong Special Administrative Region to do so. Under the Basic Law, that responsibility falls to a large extent on the city’s chief executive. It is also recognised in many common law...South China Morning Post
BUSINESSJun 25Hong Kong can take the regulatory high road amid US-China AI decouplingThe market realignment over the past week starkly captures the self-defeating logic of America’s technology containment strategy. The momentum began on June 15, when the shares of Chinese artificial intelligence pioneer Zhipu AI, which trade in Hong Kong under Knowledge Atlas Technology, surged by 48 per cent intraday after it announced the open-source release of its GLM-5.2 foundation model. The rally continued this week, with Zhipu’s shares trading at an intraday high of HK$2,980 (US$380) in...South China Morning Post
SCI & TECHJun 25Hong Kong Science Fair marks five years of youth innovation[The content of this article has been produced by our advertising partner.] For five years in a row the Hong Kong Science Fair has worked to build up the talent pipeline that will support scientific discovery and innovation in Hong Kong and across the country. By sparking ideas in children and instilling an entrepreneurial spirit in their formative years, it helps turn young curiosity into real-world solutions that support scientific discovery and innovation. The government is fully committed...South China Morning Post
BUSINESSJun 25Hong Kong prime office vacancy hits 7-month low on Central spillover demandHong Kong’s overall prime office vacancy rate fell to a seven-month low in May, driven by spillover demand from Central, where premium offices were close to full occupancy, according to JLL. With Central’s grade A office vacancy rate holding steady at 9.2 per cent, tenants appeared to have found their way to neighbouring Wan Chai and Causeway Bay. Vacancy there edged down to 9.8 per cent in May from 10.4 per cent in April, the lowest in 10 months, the property consultancy said in its latest...South China Morning Post
POLITICSJun 24Hong Kong to reform Medical Council to improve handling of complaintsHong Kong authorities intend to reform the city’s medical watchdog by raising the proportion of lay members to more than a third and requiring the time frames set for handling complaints to be made public, the South China Morning Post has learned. The proposed amendments to the Medical Registration Ordinance follow a 15-year delay in the Medical Council’s handling of a complaint against Dr Sit Sou-chi, who was accused of a blunder that left a boy permanently disabled in 2009. The case was...South China Morning Post
POLITICSJun 24National security police arrest 2 people at Hong Kong bookshopHong Kong national security police have arrested the owner and another person at an independent bookshop for alleged sedition and money laundering. Officers searched Hunter Bookstore in Sham Shui Po on Wednesday and arrested the owner, former district councillor Leticia Wong Man‑huen, and a local man. They were detained on suspicion of committing acts with seditious intent, a police source said. Wong, formerly of the now‑disbanded Civic Party, also allegedly laundered money in breach of the...South China Morning Post
WORLDJun 24Elderly man found hanging in Hong Kong flat last week dies from injuriesAn elderly man has died in hospital after being found hanging in his Hong Kong flat, where his wife was discovered with her head covered and declared dead shortly afterwards. The couple’s daughter visited their flat in Fung King House at Lai King Estate in Kwai Chung on Friday and found her 70-year-old stepfather hanging by several phone charging cables in the living room. She found her 78-year-old mother on a bed with her head covered. The couple were rushed to Princess Margaret Hospital in...South China Morning Post
WORLDJun 24Rescuers snap into action after crocodile found in Hong Kong buildingAn injured 1.5-metre-long (five feet) juvenile crocodile has been found in a Hong Kong residential building, prompting a rescue operation by an animal concern group. At about 1pm on Wednesday, police alerted the Society for the Prevention of Cruelty to Animals (SPCA) that a member of the public had reported spotting the reptile at a residential block on Tai Po Road in Sham Shui Po. It was later confirmed to be a juvenile hybrid of a Siamese crocodile and a saltwater crocodile. The SPCA said...South China Morning Post
WORLDJun 24Hong Kong police arrest 15-year-old driver and father in Wan ChaiHong Kong police have arrested a 15-year-old boy and his father in Wan Chai after officers intercepted the teenager behind the wheel at a late-night traffic checkpoint. Officers from the force’s Hong Kong Island traffic section set up a roadblock at the junction of Marsh Road and Hung Hing Road at around 10pm on Tuesday. During the routine traffic enforcement operation, police stopped a car and found the driver was a minor. The 15-year-old non-Chinese boy was arrested on suspicion of driving...South China Morning Post
POLITICSJun 24Hong Kong to send welfare cash to retirees’ mainland Chinese bank accounts from JulyHong Kong will allow elderly welfare recipients retiring in Guangdong and Fujian to have cash assistance directly sent to their mainland Chinese bank accounts from July as part of a much-awaited arrangement, the city’s leader has said. Chief Executive John Lee Ka-chiu announced the coming scheme launch in a social media post on Wednesday during a visit to Fujian, where he met elderly Hong Kong residents living in the province at a tea party. He said the new service would “further facilitate the...South China Morning Post
BUSINESSJun 24Zhipu weighs multibillion-dollar Hong Kong share sale after massive stock surge: reportZhipu is reportedly considering a multibillion-dollar share sale in Hong Kong following a substantial increase in its stock value.Seeking Alpha Tech
WORLDJun 24Hong Kong school rearranges overnight World Cup watch party after feedbackA Hong Kong primary school that earlier suggested hosting an overnight World Cup viewing event has watered down the plan and opted for a weekend morning timeslot in response to feedback from parents. The school clarified that its initial circular, which slated the event for the very early hours of July 15, sought to gauge parental interest, while its shift to daytime aimed to allow for more parents and students to watch the match together. In a statement on Wednesday – about a week after the...South China Morning Post
DISASTERJun 24Experts reveal why deadly Hong Kong blaze spread so rapidlyThis story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. As a judge-led panel continues its public inquiry into Hong Kong’s deadliest fire in decades, experts are set to give evidence on factors that contributed to the rapid spread of the blaze. Richard Yuen Kwok-kit, chair professor of architectural engineering at the City University, will testify on Wednesday before the independent committee regarding the fire at...South China Morning Post
POLITICSJun 24Hong Kong’s focus on rankings distorts universities’ true mission“Hong Kong is the only city in the world with five universities ranked among the global top 100.” This talking point has become one of the Hong Kong government’s favourite slogans. It has appeared in government press releases and official speeches, including Chief Executive John Lee Ka-chiu’s policy address last year. Though pleasing to the ear, this distorts our education priorities. Hong Kong is also an outlier in attaching such political significance to university rankings. Once the Hong Kong...South China Morning Post
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