Who needs the S&P? Hong Kong’s red-hot stock market yesterday closed at the highest point since its inception in 1891, breaking the previous record set in October 2007 as China optimism soars.
Tag: Hong Kong
Citi PB: Reforms to boost China’s old economy in 2018
Chinese banks, seen as risky by many investors, are looking attractive in 2018 due to ongoing reforms, said Ken Peng, Citi Private Bank investment strategist for Asia-Pacific, who also likes China’s industrial sector.
SFC fines EFG Bank for dealing futures without license
The Hong Kong operation of EFG Bank, a subsidiary of Swiss private bank EFG International, was fined HK$2m ($260,000) for dealing in futures contracts for 13 years without a required license.
Ex-StanChart PB head charged with bribery
A former private banking head at Standard Chartered Bank in China has been charged by Hong Kong’s Independent Commission Against Corruption (ICAC) this week with accepting a bribe.
China Universal delists all ETFs in Hong Kong
China Universal Asset Management was the last firm in 2017 to announce the delisting of ETFs from the Hong Kong Stock Exchange.
BEA Union receives approval for northbound MRF fund
BEA Union Investment’s Asian Bond and Currency (ABC) Fund has gained approval to be sold on the mainland under the China-Hong Kong Mutual Recognition of Funds (MRF) scheme, according to a statement from the firm.
SFC warns of malpractice in AM industry
As Hong Kong’s asset management industry grows, the Securities and Futures Commission (SFC) issues new guidance on sales practices and managing conflicts of interest.
HK regulator proposes active ETFs
Actively managed exchange-traded funds (ETFs) are among the proposals that Hong Kong’s financial regulator has put forward in its newest three-month consultation process.
HK domiciled funds see $1.85bn in outflows
Equity funds drove net outflows of Hong Kong-domiciled funds in 2017, in a reversal of 2016 when they recorded net inflows.
Fixed income fixation continues in HK
Hong Kong’s mutual funds assets are up 17% over the past year, driven by a rise in the number and assets of fixed income funds, according to the SFC’s latest quarterly report.
