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A view of the HSBC Building in Central, Hong Kong. Photo: Karma Lo

Banking & Finance

HSBC reshuffles insurance division after CEO’s surprise departure: internal memo

Two Asia-based executives will replace outgoing global insurance CEO Edward Moncreiffe, who has resigned, according to a company document.

Hong Kong stablecoin list expands with Standard Chartered-led firm’s launch

BTS bump? Hong Kong’s hotels set for bonanza from pop superstars’ world tour

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Banking & Finance

Why Fed moves trump geopolitical risks, China gold buying in analysts’ forecasts

Bullion forecasts have softened, LBMA’s survey shows, despite the World Gold Council reporting unprecedented demand in second quarter.

The outlook for gold marks a significant retreat from the bullishness seen at the start of the year. Photo: dpa
The outlook for gold marks a significant retreat from the bullishness seen at the start of the year. Photo: dpa

Tech

Chinese AI start-up ModelBest kicks off pre-IPO tutoring process on mainland

Company says it has hired Citic Securities to guide pre-listing preparation but has not announced further details of plans.

China Business

China’s EV sales keep sliding as incentives fade and price war seen heating up

A seven-month domestic downturn contrasts with a 147.8 per cent jump in overseas shipments, highlighting a widening gap between domestic and export markets.

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China Business

Hong Kong seeks tech exposure amid Beijing’s rising AI dominance

The city is looking to expand stock benchmarks in an effort to challenge Nasdaq’s tech dominance.

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A view of the Hong Kong skyline on July 22. Photo: Jonathan Wong
A view of the Hong Kong skyline on July 22. Photo: Jonathan Wong

Banking & Finance

China’s quant funds have edge on foreign rivals, as Beijing curbs trading speed

Top US quant teams unable to beat native competitors in mainland China unlike in Japan or India, despite regulatory clampdown on trading.

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Banking & Finance

Exclusive | HKEX to launch debate over extending trading hours despite pushback, sources say

The discussion paper could pave the way for Hong Kong’s bourse operator to introduce longer opening times, helping it attract global investors.

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Banking & Finance

What are China’s quantitative trading funds, and why are they so controversial?

China’s quant funds face scrutiny from retail traders and regulators, driven by their large returns and use of AI.

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Critics argue that AI-driven strategies exacerbate volatility in a market still dominated by more than 250 million retail investors. Photo: Getty Images

Business

Hong Kong property recovery faces new risk as Beijing widens offshore tax net

Potential taxation of offshore property income could curb mainland demand, while weaker insurance activity hits decentralised office markets.

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Testing times could lie ahead for Hong Kong’s property market if Beijing’s crackdown on offshore wealth extends to offshore rental income and capital gains tax, affecting investors. Photo: Sam Tsang
Testing times could lie ahead for Hong Kong’s property market if Beijing’s crackdown on offshore wealth extends to offshore rental income and capital gains tax, affecting investors. Photo: Sam Tsang

Wealth

Rich Hongkongers rank travel over real estate in shifting life goals: survey

Immersive travel and early retirement rank above real estate on the priority list of wealthy individuals, according to a new report.

Companies

Wharf firms up balance sheet as Hong Kong sales cushion profit slump

‘Our first choice is investment in Hong Kong’s property sector’, while mainland China lacks ‘good opportunities’, chairman says.

Big Tech

Alibaba says it can build AI data centres in 100 days with modular design

With CUBE 5.0, Alibaba Cloud expects to more than double modular data centre delivery efficiency this year amid AI boom, report says.

Alibaba is stepping up its data centre push globally as part of its US$56.3 billion AI capital expenditure commitment set out last year. Photo: dpa

Tech Trends

Unitree IPO deluge masks humanoid robots’ limitations

Retail investors subscribed for more than 5,500 times the shares on offer in Unitree Robotics’ offering amid hype about advances for humanoid robots and a run of Shanghai IPO windfalls.

Photo: SCMP
Photo: SCMP

Companies

Gap bucks retail headwinds with massive China expansion amid localisation drive

Gap’s plan for dozens of new stores and return to Hong Kong market comes as Ralph Lauren also posted a 40 per cent year-on-year jump in China sales in past quarter.

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Banking & Finance

Shein set for Hong Kong IPO next week, eyes US$35b valuation: sources

Singapore-based company, which was founded in China, aims to raise as much as US$2.8 billion and began gauging investor demand last week.

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China Business

China’s drug makers are speeding up – will AI be their secret weapon?

Chinese biotech firms are striking big global deals as drug makers, but could artificial intelligence take them to the next level?

Illustration by Henry Wong
Illustration by Henry Wong

Markets

Can Hong Kong’s listing reform 2.0 win over innovative firms?

The reforms enhance the city’s appeal for AI, biotech and other firms by slashing the market cap threshold and enabling confidential filings.

Big Tech

Competition or ‘co-opetition’: how is convergence shaping Sino-US AI race?

Speech by CEO of Chinese AI start-up at Nvidia event in US highlights symbiotic nature of tech relationship despite geopolitical tensions.

China EVs

How China’s EV makers think they can outrun disastrous price wars

At Beijing’s urging, an industry largely built on discounting must hold the line on prices and convince buyers to pay for better technology.

Illustration: Lau Ka-kuen
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OPINION
Nicholas Spiro

Macroscope | US efforts to prop up the yen risk doing more harm than good

Nicholas Spiro
Bob Savic

Opinion | Chinese and Western firms are teaming up even as governments fight

Bob Savic
6
Liu Min

Opinion | Hong Kong’s Chinese bond futures are a major step for the global yuan

Liu Min
Howard Yu

Opinion | China’s next export is the world’s factory itself

Howard Yu
7
Bernard Chan

Opinion | Hong Kong must wake up to the cold hard geopolitics of AI

Bernard Chan
Nicholas Spiro

Macroscope | Emerging markets have a concentration problem. Investors will have to live with it

Nicholas Spiro
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MULTIMEDIA
Video

Could the world’s second trillionaire come from China?

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02:56
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How China’s malls are trying to stay relevant

Wire
02:34
Video

Pony.ai set to further open China’s autonomous-driving frontier

Pony.ai
07:39
Video

What’s behind HSBC’s privatisation of Hang Seng Bank?

HAng Seng
04:37
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