State Street-managed tracker fund to invest in sanctioned stocks again

State Street-managed tracker fund to invest in sanctioned stocks again

Hong Kong’s most active exchange-traded fund (ETF), the Tracker Fund of Hong Kong (TraHK), has reversed a decision to stop buying shares in Chinese firms sanctioned by the US after some called for the fund’s manager, State Street Global Advisors Asia, to be replaced. In an exchange filing on Wednesday, …

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Hong Kong online banks to venture into business lending 

Hong Kong online banks to venture into business lending 

Hong Kong's new online banks are planning to move into business lending and wealth management, in search of more lucrative activities beyond savings accounts, senior executives said. Eight online banks were launched this year and, as of November, had taken more than $1 billion in deposits and attracted nearly 300,000 …

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Supporting Hong Kong’s businesses and households in new normal  

Supporting Hong Kong’s businesses and households in 'new normal'  

(ATF) In Hong Kong, the transition from face-to-face to contactless interactions has been swift and widespread as a result of the Covid-19 pandemic. The so-called “new normal” economic activities such as online shopping, digital payments, and remote working have accelerated as consumers and businesses adapt to the new environment. As …

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Virus slams brakes on Hong Kong

Coronavirus slams brakes on Hong Kong

HONG KONG: Retail sales plunged 13.1% in August from a year earlier as coronavirus restrictions slammed the brakes on spending in the southern Chinese city and tourism slowed to a trickle Sales dropped to HK$25.6 billion ($3.30bn), government data showed on Wednesday, falling for the 18th straight month but at …

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We’re not to blame for banks' dirty-money scandal

We’re not to blame for banks dirty-money claim

HONG KONG: Hong Kong's banking regulator said the financial hub was committed to meeting international standards on anti-money laundering, after media reports that some leading banks had moved large sums of allegedly illicit funds over nearly two decades despite red flags about the money's origin. BuzzFeed and other media articles …

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'Made in Hong Kong' brand suffers as US-China tensions deepen

'Made in Hong Kong' brand suffers as US-China tensions deepen

At the Koon Chun Sauce Factory workers are scrambling to cover hundreds of thousands of bottles with new "Made in China" labels as the popular Hong Kong brand falls victim to spiralling diplomatic tensions. Founded nearly a century ago, the family-owned factory has survived a world war, multiple economic crises …

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Scramble for lawyers in Hong Kong amid Sino-US tensions

Scramble for lawyers in Hong Kong amid Sino-US tensions

Financial firms in Hong Kong are scrambling to fortify their compliance operations following US sanctions and China's new national security law, even as the sector pushes to cut costs amid the coronavirus pandemic. This underscores the growing challenges for firms operating in the Asian financial hub, which was roiled last …

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