Double boost for property stocks as China pledges support for homebuyers amid industry slump and Evergrande pays up

Dalian Wanda's property management unit applies to list in Hong Kong to raise up to US$4 billion

Hong Kong stocks set for winning week on China policy easing bets while Evergrande payment eases bond default concerns

Beike Zhaofang, China's biggest online property agency, axes staff as housing sector heads into a bleak winter

Ke Holdings, China’s biggest online property agency, also known as Beike Zhaofang, has started laying off staff across the country as the housing sector slides into the doldrums. A former Beike employee in Chengdu, who chose only to give her…

China cites ‘flexible' yuan exchange rate, healthy economy as buffer against US tapering

China’s advanced economy and the flexibility of its yuan exchange rate leave it well placed to absorb shocks from policy tightening by the US Federal Reserve, including hot money flows out of the country, the nation’s currency regulator has said.…

Climate change: BIS to create Asia-focused green bond fund for central banks

The Bank of International Settlements (BIS) plans to launch a dollar-denominated green bond fund focusing on investments in Asia in the first half of next year. It will be the third green bond fund created by the Basel, Switzerland-based organisation…

Hong Kong stocks hold near six-week high as Evergrande, Alibaba slip while traders eye policy easing signals amid China slowdown

Hong Kong stocks fluctuated near a six-week high as investors looked for policy easing signals from Beijing amid a slowdown in the economy and worsening liquidity crunch in its property sector. The Hang Seng Index rose less than 0.1 per…

Evergrande crisis: developer Modern Land (China) cancels US$250 million bond repayment plan on liquidity issues

China’s property market has taken another turn for the worse as developer Modern Land (China) has cancelled its plan to repay a portion of a US$250 million junk bond and extend it just days before it was set to mature,…

Rising coal, natural gas prices to fuel inflation across the globe and hasten transition to renewable energy, CME says

CME Group, the world’s largest futures exchange operator, said rising coal and natural gas prices are expected to have a profound impact on consumers, as higher energy bills and manufacturing costs push inflation rates higher globally. The elevated prices of…

China's ‘unfair trade practices' draw heavy fire at WTO trade review

China was accused of a laundry list of trade felonies and economic bullying during a series of attacks by other nations at the World Trade Organization (WTO) in Geneva on Wednesday, laying bare growing geopolitical rifts and widening schisms in…

Geely's Lynk & Co car brand launches mid-size SUV, heads to Saudi Arabia and Kuwait

Lynk & Co, a mid-range car brand spawned out of Geely’s takeover of Volvo Cars, launched a mid-size SUV to take on bestselling electric vehicle models assembled by Tesla and Chinese start-up NIO. The Chinese-Swedish carmaker, which is well-established in…

Evergrande scraps US$2.6 billion sale of property services unit to Hopson, suffering a second rebuff to its asset disposal in a week

China Evergrande Group scrapped the sale of its property management unit to a rival, as its asset disposal plan was rebuffed for the second time in a week just before a 30-day grace period runs out for declaring the world’s…

China's tech crackdown will see ‘more substantial progress' by year's end, Beijing vows

Chinese authorities say progress is being made in their efforts to clean up the financial irregularities created by privately run tech giants and other industrial capitalists, while doubling down on vows to ensure that funding is available to struggling private…

Abu Dhabi Investment Authority to invest US$400 million in Indonesia's GoTo Group

GoTo Group, the digital leviathan created by the merger of Gojek and Tokopedia in May, said on Wednesday that the Abu Dhabi Investment Authority (ADIA) will invest US$400 million and lead a pre-initial public offering fundraising round by Indonesia’s biggest…

Hong Kong government keen on public to take part in US$22.5 billion green bond issuance programme

Hong Kong’s finance chief said the government plans to issue HK$175.5 billion (US$22.5 billion) worth of green bonds over the next five years, with some bond issuances open to the general public “to reap the benefits” of sustainable development. The…

China's power crisis: Beijing draws up plans to increase coal output, lower energy prices as temperatures plunge

Beijing has stepped up its control over the nation’s power market amid a crunch, pledging to intervene in the coal market, investigate pricing mechanisms and crack down on the speculative fuel trade as China tackles the ongoing problem that is…

Bull run in China's coal stumbles after economic planner's pledge to cool fuel prices, sending futures and mining stocks tumbling

China’s coal futures and mining stocks tumbled after the top economic planning agency said it would rein in runaway fuel prices and ensure stable supply by coal-fired power plants ahead of the forthcoming winter months. Twelve-month thermal coal futures for…

China attracts global demand in US$4.9 billion bond offerings as investors prepare for wider access, index inclusion

China’s sovereign bond offering in Hong Kong garnered strong demand from investors, following efforts to widen ownership access to global funds. The government also concluded a US$4 billion of foreign-currency bond sale to solid demand. The government auctioned 6 billion…

Shimao's unit taps a jittery capital market in a surprise plea for funds, sending nervous investors heading for the exit

Shimao Services Holdings, the management unit of one of China’s largest property developers, is tapping the capital market for funds, a plan that surprised investors who are already jittery over the financial state of China’s indebted developers, causing its shares…

China's September home price index falls, the first monthly drop in six years and sign of the coming winter for the real estate market

China’s monthly benchmark price index of new homes fell for the first time in more than six years, confirming the real estate slump that dragged the nation’s economy to its slowest quarterly growth pace since September 2020. The average cost…

 Hong Kong stocks approach six-week high on Alibaba tailwind while Chinese coal producers slump

Hong Kong stocks approached a six-week high, aided by a rally in Alibaba Group Holding amid speculation about its improving ties with Chinese regulatory authorities. Coal producers fell after an overnight plunge in the commodity. The Hang Seng Index gained…

Investors see Southeast Asia's young population driving property market recovery after pandemic

Property markets in Southeast Asia, one of the worst-hit by the Covid-19 pandemic, are poised to recover as countries across the world gradually open up in the coming months, according to analysts and investors. Much of that recovery will be…

Developer bets on Asian buyers to make a beeline for Andermatt resort property in the Swiss Alps as travel restrictions ease

A Swiss developer is launching a luxury residential project in the Alps exclusively for Asian investors ahead of the winter ski season, as travel restrictions ease around the world with increasing vaccination rates against the Covid-19 pandemic. Andermatt Swiss Alps…

MPF: Hong Kong's pension regulator mulls allowing members to invest in sovereign bonds

Hong Kong’s pension regulator is considering changing rules to allow members of the Mandatory Provident Fund scheme to invest in sovereign bonds, according to a senior executive. Plans are afoot to include sovereign bonds issued by the Chinese government and…

China's property and construction sectors contract in third quarter as Evergrande crisis and tougher regulation hit home

China’s property and construction sectors contracted in the third quarter for the first time since the start of the pandemic, hurt by a slump in real estate as the Evergrande debt crisis and the effects of Beijing’s tougher property market…

Evergrande: concerns linger even as embattled developer's Hengda unit makes interest payment on US$327 million onshore bond

China Evergrande Group made its first interest payment on its corporate bonds in nearly a month on Tuesday as questions continue to swirl about its ability to service its massive pile of debt accumulated from years of aggressive expansion beyond…

Wealth Management Connect makes positive start as customers rush to open accounts, invest on both sides of the border

The Wealth Management Connect, the new cross-border scheme for the Greater Bay Area, made a solid debut on Tuesday, with most banks indicating strong demand for their investment products in the mainland and Hong Kong, according to bankers. HSBC, Standard…

Why Asia's CEOs fear inflation as biggest hurdle to coronavirus recovery

The International Monetary Fund last week called on central banks to watch out for persistent inflationary pressures but said it was too early to talk about stagflation. From the perspective of business, though, worries about stagflation are already here. In…

Chinese investment in UK welcome despite tensions, overtures won't be ‘pitchforked away', Johnson says

British Prime Minister Boris Johnson said he is not about to “pitchfork away” offers of Chinese investment despite the concerns of some of his own lawmakers.  Decisions to bar Chinese companies from Britain’s fifth-generation communication networks and nuclear power, and…

Mortgage borrowers should seek professional advice before making a purchase decision

Prospective purchasers are reminded to carefully consider their own financial situation before making a property purchase decision. In most situations, whether a property transaction can be completed depends on the amount of mortgage loan that could be obtained. Prospective purchasers…

Tesla supplier CATL defends US$9.1 billion fundraising as ‘reasonable' on rosy EV outlook after Shenzhen exchange query

Contemporary Amperex Technology said its jumbo follow-on stock offering is “reasonable” taking into account the electric-vehicle (EV) industry cycle, after the fundraising drew ire from investors and a stock exchange query. The world’s biggest maker of lithium-ion batteries for EVs…

FWD Group's IPO hits potential roadblock as US regulator asks questions about Beijing's hold over Hong Kong companies, sources say

FWD Group’s initial public offering has hit a potential regulatory roadblock as the Hong Kong-based insurer backed by tycoon Richard Li Tzar-kai seeks to raise as much as US$3 billion in the United States, according to people familiar with the…

Evergrande: US fund unimpressed as China treats credit distress, bond defaults with kid gloves

China is treating recent credit crunches involving private companies like China Evergrande Group with kid gloves, leaving much to be done to strengthen investor confidence in the world’s second-largest bond market. Despite efforts to boost transparency and discard moral hazard,…

Bowtie raises US$22.6 million from Mitsui-led investors, tapping Japanese firm's financial muscles and strategic advice for growth

Bowtie Life Insurance, Hong Kong’s first virtual insurer, said it raised US$22.6 million in its second funding round from a group of investors led by Mitsui & Co., getting both the financial backing and strategic advice of one of Japan’s…

Evergrande's debt crisis sates appetite for risk, forcing 206 plots to withdraw from China's land auctions since September

Chinese local governments have withdrawn some 206 plots of land from auctions in major cities since last month as buyers tightened their finances after Evergrande’s debt crisis roiled the property market. The plots represented almost one-third of about 700 plots…

Hong Kong's property mania inflates prices of even the tiniest flats, putting affordability beyond reach for most first-time buyers

A real estate bull market in Hong Kong, the world’s most expensive major city for 10 consecutive years until 2019, has trickled over to inflate the prices of even the smallest habitable homes. The average cost of new micro-apartments, or…

HSBC, Standard Chartered, Bank of China (HK) among 19 lenders approved to sell Wealth Management Connect products

HSBC, Standard Chartered, Bank of China (Hong Kong) – the city’s three note-issuing banks – are among the 19 Hong Kong lenders that received the greenlight to sell investment products under the Wealth Management Connect scheme in the Greater Bay…

G20 countries' policies make it difficult to attract green investment needed to tackle climate change, report warns

The Group of 20 (G20) leading economies have significant policy hurdles that discourage green investment to tackle the growing climate crisis and around a third of them have yet to commit to net-zero emissions, a study by three major global…

Hong Kong's Exchange Fund reports US$1.7 billion third-quarter loss as Beijing's big tech crackdown batters stock market

Hong Kong’s Exchange Fund, a war chest used to defend the local currency, lost HK$13.2 billion (US1.7 billion) in the third quarter as it fell victim to a slump in the local stock market. The loss in the July-to-September period…

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CATEGORIES

Hong Kong stocks slip as China's economic reports dent risk appetite while tech firms struggle on regulatory concerns

How new blockchain, cryptocurrency rules can give Hong Kong an investment edge

Hong Kong-listed ETFs expected to benefit from Greater Bay Area growth, upcoming connect scheme

China can ‘contain' economic, financial risks posed by Evergrande crisis, central bank chief says

Women from Philippines, Hong Kong and China account for higher than global average when it comes to investing in stock markets

Three tests for China stock investors as slowdown in GDP, earnings and trading divide analysts seeking signs of policy capitulation

Centralcon's Sha Tin project sees sales pick up as smaller flats attract price-sensitive end users rather than investors

Is this China's ‘Great Resignation'? Freelancers find both hope and uncertainty in bid to escape 9-to-5 grind

Effects of China's regulatory onslaught felt in Hong Kong as large IPOs fall by the wayside

Investors in two-thirds of companies listed globally risk losing US$8.4 trillion because of declining ocean health: WWF

Centralcon's Sha Tin housing project launch gets off to a slow start as buyers hold out for better options amid robust supply

Hong Kong court slaps jail time on four people over plot to defraud Convoy, in a win for city's anti-corruption investigator

China's education crackdown sparks lawsuits against defunct institutions, while some tutors keep teaching in secret

What China's Evergrande crisis means for its real estate market and the world

China Evergrande crisis caused by ‘poor management', but an exception in healthy property market, central bank says

Debt-stricken China Evergrande suffers huge blow as US$1.7 billion deal to sell its Hong Kong headquarters collapses

Estonia joins global regulators in tightening the noose on digital tokens, weighing firmer oversight of cryptocurrency trading

Pulled IPOs at Lenovo, Geely Auto test Shanghai Star Market's ‘hard technology' listing criteria

Hong Kong stocks waver as market faces unfriendly China economic data amid energy, stagflation risks

Chinese developer Greenland Holdings' tourism unit sets up Asia-Pacific hub in Singapore