Cooling China economy hits Hong Kong and Singapre

The banking boom days are officially over in Hong Kong and Singapore Asia’s two top financial hubs are facing a rapid growth deceleration with China’s slowdown and the continuing shrinkage of the financial industry striking both Singapore and Hong Kong…. Continue Reading →

Hong Kong ranks after Singapore in financial centre index

Competitiveness of Hong Kong slides The latest index released by Z/Yen Group shows Singapore has overtaken the SAR as the No 3 global financial center. As the dominant financial centre to Chinese economy, Hong Kong’s financial center status is irreplaceable… Continue Reading →

Hongkongers prefer high-return investment for retirement fund

MPF, compulsory employees’ pension scheme, is disillusionment, survey said. Friends Provident International, a global insurer, released a survey to indicate that affluent Hong Kong residents are more daring when investing for their retirement than Singapore peers, an well-off Hong Konger needs an average of… Continue Reading →

HK ranked 2nd the most competitive economy of total 61

Climbed from 4th place last year, Hong Kong’s competitiveness is only after the US in survey by IMD. The International Institute for Management Development (IMD) in its World Competitiveness Yearbook 2015 released on 27 May, it assess an economy based… Continue Reading →

Singapore Dollar joins Chinese yuan direct trade list

The move will help China to diversify its huge foreign exchange reserves, which is a pressing need for the country while Singapore will be able to build a Chinese yuan offshore centre on the financial hub in South East Asia…. Continue Reading →

OCBC to raise $21b in Wing Hang rights issue

Oversea-Chinese Banking Corp (OCBC.SI), Singapore’s second-biggest lender, plans to raise $2.7 billion from existing shareholders to boost capital after it acquired Hong Kong’s Wing Hang Bank Ltd, and said it may look at more fund-raising. Source: The Standard Finance Oversea-Chinese… Continue Reading →

Wing Hang’s Third-Biggest Investor Accepts OCBC Bid Offer

Despite concerns in market over valuation of Hong Kong-based Wing Hang Banks, Singapore’s OCBC is to be expected acquisition deal for will be completed in third quarter. Oversea-Chinese Banking Corp is Southeast Asia’s second-largest bank by assets. Source: Bloomberg Business… Continue Reading →

Singapore June Home Sales Drop 68% as Fewer Projects Marketed

Home price in Hong Kong and Singapore are facing pressure to fall because of higher interest rates and a surge in new supply after having been driven of high price for years. Both cities took measures to cool their property… Continue Reading →

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