hong kong

Hong Kong tightens liquidity with $260 mil currency defence
HONG KONG (Mar 11): Hong Kong faces the likelihood of rising borrowing costs after the city’s de facto central bank intervened to defend its currency peg for the first time since August. The Hong Kong Monetary Authority bought HK$1.51 billion ($260 million) of local dollars during London and New York trading hours after the currency fell to the weak end of its trading band, it said in a ...
Property markets from Hong Kong to Sydney join global downturn
(Jan 7): Asia is finally succumbing to the global property slowdown that’s jolted homeowners and investors from Vancouver to London, with markets in Singapore, Hong Kong and Australia showing fresh signs of softening. The economic ramifications could be serious. Lower house prices and higher mortgage rates will not only dent consumer confidence, but also disposable incomes, S&P Global ...
Hong Kong has US$64 bil plan to build islands for new homes
HONG KONG (Jan 3): Hong Kong, the world’s least affordable property market, has a plan to tackle its housing crisis: build four artificial islands equal to about a fifth the size of Manhattan that could house more than a million people. The government-backed plan to create a gleaming property and commercial hub has been tried before—Palm Jumeirah, the palm-shaped archipelago in Dubai ...
The world's top IPO venue for 2018 sees worst returns in decade
(Dec 19): Hong Kong is host to the world’s busiest venue for initial public offerings this year. And the worst losses in a decade. A boom in technology listings has propelled local deal value to US$35.7 billion ($49.1 billion), ahead of the New York Stock Exchange, according to data compiled by Bloomberg. Yet companies that raised at least US$100 million dropped 6.2% in their first month of ...
Singapore wins Asia's talent battle, but is trounced by Europe
SINGAPORE (Nov 20): Switzerland once again clinched the top spot in a global survey on fostering and attracting talent, in a top 10 list that includes Canada but not the US, and no Asian nations. The country retained its title for the fifth consecutive year on the World Talent Ranking report published by IMD Business School, a result of its strong emphasis on skills training and education. ...
Singapore ousts Hong Kong as No. 1 for luxury home-price gains
(Oct 31): Guess which city managed to top a luxury real-estate ranking despite a slew of cooling measures to tame its property market? Yes, the tiny island nation of Singapore, nudging out Hong Kong. Luxury home prices rose 13% in the quarter ended Sept 30 from a year earlier, according to Knight Frank LLP’s Prime Global Cities Index. Gains were driven in part by the limited availability of ...
Housing prices are through the roof in these 10 cities
SINGAPORE (Oct 4): Oh Canada! The first two words of that country’s national anthem are also what many people in Toronto and Vancouver must be saying when they pay their rent or mortgage. Toronto’s costs posted the biggest jump from a year ago in the annual Bloomberg Global City Housing Cost Index, which analyses more than 100 municipalities worldwide. Canada’s financial hub surged 18 ...
Hong Kong housing correction of 15% possible, Gaw Capital says
(Sept 14): A correction in Hong Kong property prices of as much as 15% in the first half of 2019 is possible as interest rates rise and the tide of money flowing in from mainland China recedes, according to Kenneth Gaw, president of Gaw Capital Partners. That could present a buying opportunity for the Hong Kong-based private-equity firm, which recently purchased a portfolio of shopping malls ...
Hong Kong may consider further curbs on home purchases by foreigners
(Sept 4): Hong Kong could consider imposing further restrictions on home purchases by non-locals, the Hong Kong Economic Journal reported. Responding to concerns foreigners could avoid a 30% stamp duty by using a trust to buy property, Permanent Secretary for Transport and Housing Stanley Ying said transactions by non-locals and companies accounted for only 1.2% of total purchases in the first ...
ST Engineering's electronics unit wins contract to test out smart lamp posts in Hong Kong
SINGAPORE (Aug 29): ST Engineering’s electronics unit has won a contract to conduct a proof of concept trial to deploy multi-purpose lamp posts (MPLP) in Hong Kong. The team from the electronics unit will install customised multi-purpose lamp posts in Kowloon East, Hong Kong’s smart city pilot area. The MPLP will be interconnected with a telecommunication network to form an Internet of ...