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  • Chow Tai Fook Enterprises buys Australia's Alinta Energy

    SYDNEY (Reuters) -- Hong Kong's Chow Tai Fook Enterprises (CTFE) on Thursday said it had agreed to purchase Australian gas and electricity retailer Alinta Energy, in a deal two sources familiar with the situation said was valued at about A$4 billion

    March 16, 2017 12:18 pm JST
  • Hong Kong central bank raises interest rates after Fed move; shares watched

    HONG KONG (Reuters) -- The Hong Kong Monetary Authority on Thursday raised the base rate charged through its overnight discount window by 25 basis points to 1.25 percent.The move from Hong Kong's de facto central bank followed the U.S. Federal Reser

    March 16, 2017 11:28 am JST
  • China Unicom tightens belt as profits plunge

    HONG KONG -- Struggling to gain a foothold in China's fourth-generation (4G) wireless telecommunication markets, Beijing-based China Unicom reported lackluster results on Wednesday and plans to cut back outlays in preparation for its next move.The s

    March 16, 2017 01:30 am JST
  • China, Hong Kong to link bond markets this year

    BEIJING -- Hong Kong and mainland China will link their bond markets later this year on a trial basis, Chinese Premier Li Keqiang told reporters Wednesday.This arrangement, similar to existing schemes connecting Hong Kong and mainland stock markets,

    March 15, 2017 11:45 pm JST
  • Cathay Pacific to expand despite first loss in decade

    HONG KONG -- Cathay Pacific Airways is planning to ratchet up its operations despite recording its first annual loss since the global financial crisis in 2008 due to intense competition from Chinese carriers.The Hong Kong-based premium airline aims

    March 15, 2017 11:20 pm JST
  • Chinese shares drag on Hong Kong as yuan-watchers await Fed

    HONG KONG (NewsRise) -- Hong Kong shares edged lower on Wednesday as concern about the impact of rising U.S. interest rates on the yuan weighed on mainland companies.The Hang Seng Index slipped 0.2% to 23,792.85. Cathay Pacific Airways reversed earl

    March 15, 2017 07:35 pm JST
  • Hong Kong stocks flat ahead of Fed rate call

    HONG KONG (NewsRise) -- Hong Kong shares were little changed in a choppy trading session Wednesday morning before a key U.S. Federal Reserve rate decision, with energy producers weighed down by falling oil prices while property developers inched hig

    March 15, 2017 03:13 pm JST
  • Mercer ranks Singapore first in Asia again for living quality

    SINGAPORE -- Singapore continues as the highest ranked city in Asia for quality of life, moving up one place globally to 25, according to Mercer, an international human resources consultancy.The Mercer 2017 Quality of Living report surveyed 231 citi

    March 14, 2017 10:20 pm JST
  • Hong Kong flat as Fed caution eats into China cheer

    HONG KONG (NewsRise) -- Hong Kong shares ended flat on Tuesday after loitering around a two-week closing high in a choppy trading session as concern about rising U.S. borrowing costs offset gains for mainland companies in the wake of upbeat Chinese

    March 14, 2017 07:50 pm JST
  • Hong Kong shares flat ahead of Fed rate review

    HONG KONG (NewsRise) -- Hong Kong shares fluctuated Tuesday morning as gains by mainland companies on upbeat Chinese factory data were tempered by caution ahead of the U.S. Federal Reserve's interest rate decision.The Hang Seng Index was up less tha

    March 14, 2017 02:51 pm JST
  • Asian ETFs struggle to achieve scale to offset low fees

    HONG KONG -- Cheaper, quicker to trade and easier to understand. That's the appeal of exchange-traded funds in a nutshell as compared with mutual funds. Combined with advances in data and self-directed investing, they are forcing traditional fund gr

    March 14, 2017 01:00 pm JST
  • Department store operator scales down in northeast China

    HONG KONG -- The operator of Hong Kong's Sogo department stores will downsize its struggling business in northern China to focus on the eastern Yangtze River Delta, revealing the marked divergence in retail markets on the mainland.As the Hong Kong f

    March 13, 2017 11:30 pm JST
  • Mainland companies, HSBC steer Hong Kong to best day in a month

    HONG KONG (NewsRise) -- Hong Kong shares jumped Monday as expectations of steadying economic growth led to robust gains for Chinese companies and HSBC Holdings posted its best day in three months after appointing a new chairman.The Hang Seng Index a

    March 13, 2017 07:56 pm JST
  • China elevates Hong Kong chief as vice chairman of top advisory body

    BEIJING -- China promoted Leung Chun-yin, the unpopular outgoing leader in the Chinese territory of Hong Kong, to a key position of the nation's top political advisory body on Monday. This unprecedented move is triggering renewed debate on the erosi

    March 13, 2017 07:25 pm JST
  • Uber floors it in Hong Kong

    HONG KONG -- Ride-hailing services are rapidly gaining popularity in Hong Kong, driving customers from the city's infamous taxis.Uber Technologies and other companies that use ride-hailing apps are transforming transportation in this former British

    March 13, 2017 05:00 pm JST
  • AIA CEO Tucker to leave for HSBC, insurer's shares head south

    HONG KONG (NewsRise) -- AIA Group said Chief Executive Officer Mark Tucker is leaving the company to become chairman of HSBC Holdings, news that pushed shares of the leading insurer to their steepest drop in more than three months.Tucker, 59, an ind

    March 13, 2017 03:14 pm JST
  • HSBC leads Hong Kong shares higher even as Fed rate hike looms

    HONG KONG (NewsRise) -- Hong Kong shares were poised for their best day in over two weeks, as HSBC Holdings jumped after naming a new chairman, while property developers continued to gain despite a better-than-expected U.S. monthly jobs report that

    March 13, 2017 02:22 pm JST
  • AIA Group shares fall 2.8% on CEO Tucker's departure

    HONG KONG (Reuters) -- Insurer AIA Group Ltd shares fell 2.8 percent on Monday morning in Hong Kong as investors digested the news that chief executive Mark Tucker will be retiring in September after what was regarded as a stellar seven-year stint a

    March 13, 2017 02:15 pm JST
  • HSBC breaks with tradition, names AIA boss Tucker as chairman

    HONG KONG/LONDON (Reuters) -- HSBC Holdings Plc , Europe's biggest bank, tapped an outsider for its top job on Monday, appointing insurance veteran and AIA Group boss Mark Tucker as chairman to replace Douglas Flint, who said last year he planned to

    March 13, 2017 09:25 am JST
  • China's clandestine capital outflow channels

    SHANGHAI -- The Chinese government may have strengthened regulations on foreign exchange, but the exodus of funds from the country shows little sign of stopping, with the amount exceeding 30 trillion yen ($265 billion) in 2016.And as the rules get s

    March 11, 2017 03:00 pm JST