Hong Kong home prices edge up 0.07% in November
1 week, 6 days ago

Hong Kong home prices edge up 0.07% in November

Live Mint  

HONG KONG, Dec 27 - Hong Kong's home prices were largely flat in November, in an early sign that the struggling property market could bottom out after interest rate cuts and other supportive measures. WHY IT'S IMPORTANT Home prices in Hong Kong, one of the world's most unaffordable cities, have tumbled nearly 30% from their 2021 peak, hurt by higher mortgage rates, an outflow of professionals and a weak market outlook. BY THE NUMBERS Private home prices edged up 0.07% in November from the month before. CONTEXT Hong Kong's major banks, including HSBC and Bank of China, lowered their best lending rate in the city this month by 25 basis points for the third time this year, following the U.S. Federal Reserve's move.

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History of this topic

China Property Flare-Ups Resurface as Crisis Enters Fifth Year
2 weeks, 4 days ago

China Property Flare-Ups Resurface as Crisis Enters Fifth Year

Live Mint  

One of China’s leading developers is now on authorities’ radar for default risk. As China’s property debt crisis enters its fifth year, there’s little indication that distressed developers are finding it easier to repay debt as a slump in home sales continues. “Against this backdrop, we can’t rule out the possibility of some more defaults next year, albeit the overall …

China, Hong Kong stocks climb on upbeat manufacturing data, stimulus bets
1 month, 1 week ago

China, Hong Kong stocks climb on upbeat manufacturing data, stimulus bets

Live Mint  

By Jiaxing Li HONG KONG, - China and Hong Kong stocks gained on Monday, driven by encouraging manufacturing data and expectations of continued policy support from Beijing. ** Sentiment was buoyed by data that showed China's factory activity expanded last month, with Beijing's stimulus blitz since September starting to trickle through just as Donald Trump ramps up trade threats. ** …

A placebo or just a painkiller
3 months, 3 weeks ago

A placebo or just a painkiller

China Daily  

While Waiting for Godot is seen as a manifestation of the idea that tomorrow never comes, the rate-cut waiting game has been a long and arduous journey. "Since early this year, we've been sending a reassuring message to our investors — hold on, once the US Federal Reserve starts lowering interest rates, everything will be alright," says Hong Kong-based investment …

Survey: High interest rates not spooking Hong Kong SMEs
4 months, 3 weeks ago

Survey: High interest rates not spooking Hong Kong SMEs

China Daily  

Currencies of different countries. Investment sentiment among small and medium-sized enterprises in Hong Kong has generally not been affected by high interest rates, with 92 percent of surveyed firms planning to maintain or increase their overall investments this quarter, which is on a par with the previous quarter, according to a recent survey. Nearly 30 percent of surveyed SMEs in …

Hong Kong lifts curbs on property market, to spend more on tourism
10 months, 1 week ago

Hong Kong lifts curbs on property market, to spend more on tourism

Associated Press  

HONG KONG — Hong Kong’s government has lifted curbs on property deals after home prices fell to a seven-year low, adding to the Chinese territory’s woes. Chan said the limits on property transactions were “no longer necessary amid the current economic and market conditions.” The government lifted a 15% stamp duty imposed on non-permanent residents who buy property in Hong …

Hong Kong Sees 2024 Growth Range at or Below Last Year
10 months, 1 week ago

Hong Kong Sees 2024 Growth Range at or Below Last Year

Hindustan Times  

-- Hong Kong expects its economy to grow in a range of 2.5% to 3.5% this year, suggesting a potentially slower rate of expansion as the financial hub tries to bolster a struggling housing market and attract more tourism and investment. Confidence in Hong Kong has waned as home prices tumble to a seven-year low, national security measures erode freedoms …

Stock market today: Asian stocks lower after Wall Street holds steady near record highs
10 months, 1 week ago

Stock market today: Asian stocks lower after Wall Street holds steady near record highs

Associated Press  

HONG KONG — Asian markets were mostly lower on Wednesday after U.S. stocks held near their record levels in a quiet day of trading. AP AUDIO: Stock market today: Wall Street holds steady near record highs. China’s largest private property developer, Country Garden, said Wednesday that it is facing a liquidation petition after failing to repay a term loan facility …

Fine-tuned policies spark realty recovery
1 year, 2 months ago

Fine-tuned policies spark realty recovery

China Daily  

Potential homebuyers look at a property model in Taiyuan, Shanxi province. China's housing market led by first-tier cities is showing signs of regaining stability on the back of recent supportive measures, indicating the current downturn in home prices might have been checked for now, paving the way for a mild recovery, industry experts said on Thursday after reviewing the latest …

Chinese buyer's offer for this Hong Kong mansion could be new Asia record
1 year, 9 months ago

Chinese buyer's offer for this Hong Kong mansion could be new Asia record

Hindustan Times  

A buyer from mainland China is offering HK$1.2 billion for a mansion in Hong Kong’s Peak area, a sign of the city’s rebounding property market after it reopened to the world. Hong Kong’s Peak is a luxurious residential neighborhood where many of the city’s richest tycoons own homes. 45 Barker Road, with a total floor area of 4,700 square feet, …

Hong Kong shares dive to 11-year low as China touts ‘zero COVID’
2 years, 2 months ago

Hong Kong shares dive to 11-year low as China touts ‘zero COVID’

Al Jazeera  

Hang Seng Index plunges to below 17,000 points as Beijing vows to stick with the controversial pandemic strategy. Hong Kong’s stock market has plummeted to its lowest level in more than 10 years after China doubled down on its punishing dynamic “zero COVID” pandemic strategy. Beijing’s doubling down on “zero COVID” comes as concerns over China’s economy are already elevated …

Hong Kong apartment sells for $82.2m, making it Asia’s most expensive
3 years, 1 month ago

Hong Kong apartment sells for $82.2m, making it Asia’s most expensive

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Hong Kong still 'go-to' place for investors, official says
3 years, 7 months ago

Hong Kong still 'go-to' place for investors, official says

China Daily  

Hong Kong's chief investment promotion officer has expressed full faith in the city's future economic development, as the newly enacted National Security Law for Hong Kong and improvements to its electoral system bring stability to the city's business environment. Hong Kong, being part of the growth engine of the Guangdong-Hong Kong-Macao Greater Bay Area while also enjoying good connections with …

Future of Hong Kong: Financial elite weigh up fleeing as businesses undeterred by Chinese crackdown
3 years, 10 months ago

Future of Hong Kong: Financial elite weigh up fleeing as businesses undeterred by Chinese crackdown

The Telegraph  

In the most stark demonstration yet of what might happen if a company does not toe the party line, Hong Kong's flag carrier Cathay Pacific was caught in the crossfire in 2019 as Beijing cracked down after some staff drew attention for joining the anti-government protests. Since then it has only doubled down on the world’s second largest economy, it’s …

Hong Kong to spend $15.4B to stabilize virus-ravaged economy
3 years, 10 months ago

Hong Kong to spend $15.4B to stabilize virus-ravaged economy

Associated Press  

HONG KONG — Hong Kong will introduce 120 billion Hong Kong dollars in fiscal measures to help businesses and residents impacted by the coronavirus pandemic, as it looks towards economic growth later this year following a recession in 2020. The measures — which include tax relief, loans for the unemployed and consumption vouchers — are aimed at stabilizing the economy, …

How the world’s most expensive skyscraper deal turned sour
4 years, 3 months ago

How the world’s most expensive skyscraper deal turned sour

Live Mint  

There’s a saying in Hong Kong property circles that if the city’s richest man, Li Ka-Shing, is selling, you don’t want to be the buyer.Now, a group of investors who paid $5.2 billion for Li’s stake in The Center almost three years ago -- making it the world’s most expensive skyscraper -- is finding out why. Almost one-fifth of the …

Hong Kong’s economy just suffered its worst three months on record
4 years, 8 months ago

Hong Kong’s economy just suffered its worst three months on record

CNN  

Hong Kong CNN Business — Months of anti-government protests and the US-China trade war forced Hong Kong into its first recession in a decade last year. “With the disease evolving into a pandemic in March, the economic fallout became even more severe.” The sharp declines in exports, investment and private consumption add to the misfortunes of a fragile Hong Kong …

Hong Kong stocks rebound a bit after turbulent week – Asian market latest
5 years, 1 month ago

Hong Kong stocks rebound a bit after turbulent week – Asian market latest

CNN  

Hong Kong CNN Business — Hong Kong’s Hang Seng Index ended up 1.4% Monday, the biggest daily gain in two weeks, continuing a slight rebound after last week’s losses. The Hong Kong government warned Friday that mass protests could cause the economy to shrink by 1.3% this year, which would mark the first annual recession since 2009. The People’s Bank …

Protests are rattling Hong Kong. But companies haven’t abandoned the city yet
5 years, 1 month ago

Protests are rattling Hong Kong. But companies haven’t abandoned the city yet

CNN  

Hong Kong CNN Business — The political unrest in Asia’s premiere financial hubhas taken adark, violent turn this week. The latter could lift the Hong Kong exchange above the New York Stock Exchange and the Nasdaq as this year’s largest venuefor public offerings. “I don’t see its standing as a financial center shaken.” A growing market Despite the rise of …

Hong Kong protests plunge city into recession
5 years, 2 months ago

Hong Kong protests plunge city into recession

CNN  

Hong Kong CNN Business — Months of protests in Hong Kong that forced shops to close, paralyzed public transportation and scared off tourists have left the city’s economy in worse shape than feared. A government spokesperson said Thursday that Hong Kong’s economic growth had been on an upward trend since last year amid a slowing global economy and US-China trade …

Hong Kong’s political crisis isn’t a deal breaker for investors right now
5 years, 3 months ago

Hong Kong’s political crisis isn’t a deal breaker for investors right now

CNN  

Hong Kong CNN Business — Protests have paralyzed many parts of Hong Kong for months, trashing its retail economy and prompting an outflow of money to Singapore. The day before Tuesday’s violent escalation, Anheuser-Busch InBev listed its Asia business on the Hong Kong Stock Exchange, raising $5 billion in the second biggest IPO of the year after Uber. “Budweiser’s IPO …

Hong Kong stocks gain nearly 4% on best day of the year – Asian market latest
5 years, 4 months ago

Hong Kong stocks gain nearly 4% on best day of the year – Asian market latest

CNN  

Hong Kong CNN Business — Hong Kong stocks turned in their strongest performance of the year on Tuesday, gaining nearly 4% on news that a controversial extradition bill that sparked months of protests would be completely withdrawn. The American Chamber of Commerce in Hong Kong said it welcomed Lam’s announcement, which the lobby group’s chairman called “an important first step …

HSBC and other big banks call for a peaceful end to Hong Kong’s protests
5 years, 4 months ago

HSBC and other big banks call for a peaceful end to Hong Kong’s protests

CNN  

Hong Kong CNN Business — Global banks want Hong Kong’s political crisis to be over. HSBC, Standard Chartered and the Bank of East Asia each placed HSBC, a British financial powerhouse that set up shop in Hong Kong in 1865 and now serves as the city’s biggest bank, said it was “very concerned” about recent social events in its message, …

Hong Kong real estate: Protests and trade war wipe $50 billion off top property stocks
5 years, 4 months ago

Hong Kong real estate: Protests and trade war wipe $50 billion off top property stocks

CNN  

Hong Kong CNN Business — Weeks of pro-democracy protests in Hong Kong are battering shares in the city’s property developers and pushing its benchmark stock index closer to a bear market. About 446 billion Hong Kong dollars has been wiped off the market value of the nine largest Hong Kong real estate companies since April, according to data from Refinitiv. …

Hong Kong economy: Hong Kong’s protests are starting to hurt its business
5 years, 5 months ago

Hong Kong economy: Hong Kong’s protests are starting to hurt its business

CNN  

Hong Kong CNN Business — Hong Kong’s most serious political crisis in more than 20 years is taking its toll on the economy and beginning to shake the confidence of international investors. Paul Chan, the top finance official in Asia’s premier financial hub, said Sunday that the city’s mass demonstrations have hurt local merchants and “worried all those who are …

HK looks to talent as key to future
5 years, 8 months ago

HK looks to talent as key to future

China Daily  

Hong Kong attracts tourists with its skyscrapers and breathtaking views. City tackles high cost of living, lingering poverty Hong Kong, which attracts tourists with its skyscrapers and breathtaking views, also has 10 percent of its population living below the poverty line and has become one of the most expensive cities in the world to call home. Hong Kong was named …

HK looks to talent as key to future
5 years, 8 months ago

HK looks to talent as key to future

China Daily  

Hong Kong attracts tourists with its skyscrapers and breathtaking views. City tackles high cost of living, lingering poverty Hong Kong, which attracts tourists with its skyscrapers and breathtaking views, also has 10 percent of its population living below the poverty line and has become one of the most expensive cities in the world to call home. Hong Kong was named …

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