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 to decline.

Banking and insurance stocks boosted the Hang Seng Index close to bull market territory with the overall sentiment remaining upbeat following Beijing’s recent efforts to prop up stocks.

HKMA reiterated its warning for Hong Kong’s borrowers to “carefully assess” their financial power in considering buying property or taking on mortgages, as high interest rates “may last some time.”

Hong Kong’s largest virtual bank is preparing to introduce virtual asset trading services for retail investors, CEO Ronald Iu says. Plans are afoot as a new regulatory regime is rolled out in June.

Hong Kong kept its key interest rate unchanged for a sixth consecutive time in lockstep with the Federal Reserve’s overnight decision, with sticky US inflation forcing investors to delay rate cut bets.

Scammers have published a fictitious article with the appearance of a South China Morning Post story and a reporter’s byline to promote two online financial trading apps.

Mainland China visitors to Hong Kong during the golden week holiday period will be offered a host of freebies by banks vying for their business amid growing interest in the city’s cash-for-residency scheme.

Swiss bank UBS Group will host an investment conference in Hong Kong at the end of May, continuing a 27-year tradition begun by Credit Suisse Group, which it acquired last year.

The world’s largest cryptocurrency exchange allowed numerous trades that violated US sanctions, including ones involving Hamas, al-Qaeda and Iran.

The number of Hongkongers with negative-equity loans stood at 32,073 in the first quarter of the year, tripling from the previous quarter and the most since some 40,000 cases were recorded in the first quarter of 2004.

Total venture-capital investment in China in the first quarter fell 30 per cent quarter on quarter to US$11.5 billion amid economic uncertainty, geopolitical tensions, though China still accounted for eight of the top 10 deals.

Company leaders pledge to marshal resources carefully in 2024 as they strike a cautious tone about any potential recovery.

Six bitcoin and ether ETFs saw US$12 million in trading on Tuesday, compared with US$4.6 billion for US bitcoin ETFs on their first day.

Quinn said it was the ‘right time’ to look for a better work-life balance as the lender’s net profit slipped 1 per cent from a year ago to US$10.2 billion, surpassing the US$9.24 billion profit expected by analysts polled by Bloomberg.

After a stretch of trials in select Chinese cities, there is rising urgency to rapidly expand use of the underperforming retirement accounts as demographic challenges mount.

The government may press state banks to continue cutting lending rates, further eroding their margins, analyst says.

High inflation and elevated borrowing costs are dampening the attractiveness of leveraged private-market investments, but institutional investors across Asia-Pacific are still determined to increase their allocations in private assets, State Street says.

Reinhold Geiger is considering making an offer for the L’Occitane shares he does not already own at HK$33 to HK$34 apiece as early as Monday.

Stripping out the effect of exchange-rate fluctuations, new business value surged 31 per cent while annualised new premiums rose 26 per cent.

CICC cuts pay amid brutal business environment as a sluggish economy and dismal IPO volumes hurt the financial services sector.

The growth of Chinese family offices has been slowing in the city state amid tighter checks on new applicants. Elevated property prices and higher stamp duty aren’t helping either.

The Mandatory Provident Fund, Hong Kong’s pension-fund operator, will launch its electronic platform in June, in the biggest overhaul of the city’s compulsory pension programme since it started in 2000.

Episode Six, or E6, a global provider of payment processing and digital ledger infrastructure for banks and financial institutions, plans to expand its footprint in Hong Kong this year.

Readers compare the attitude of businesses in the Global North and Global South, the next industrial revolution, and China’s electric vehicle makers.

Blockchain made up about 15 per cent of the talks at Money20/20 Asia this year, just slightly below the proportion of talks on AI, as interest remains high in Asia.

Financial Secretary Paul Chan says Hong Kong may face a higher interest rate environment for longer.