A money manager to some of Hong Kong’s richest individuals will start investing in cryptocurrency, as more favourable regulations attract a wider array of investors to the digital-asset sector. VMS Group, a multifamily office with just under US$4 billion in assets under management, plans to allocate up to US$10 million to strategies run by decentralised-finance
Hong Kong’s fund industry will continue to attract strong inflows as international investors use the city as a “safe harbour” amid rising geopolitical tensions, according to officials and fund managers. Financial Secretary Paul Chan Mo-po said the Middle East offered huge opportunities for Hong Kong despite the recent flare-up in the region. On Saturday, the
Mainland Chinese companies will use Hong Kong’s capital market as the launch pad for their global growth, according to an action plan signed on Wednesday with Shanghai to connect the premier onshore commercial city with the nation’s offshore financial hub. The two cities will expand the decade-old connect programme linking the stock markets of Shanghai
Driven by strong demand for wealth management and insurance solutions in Asia, OCBC posted record financial results for the third year in a row. The Singapore-based bank reported a net profit of S$7.6 billion (US$5.9 billion) for its 2024 financial year, and total income rose by 7 per cent to S$14.5 billion. Within the year,
The cryptocurrency industry has continued to advance, with bitcoin prices hitting a record high earlier this week. Stablecoins have come under the spotlight as regulators in Hong Kong and the US push for legislation for the popular tokens. Here we answer five common questions about stablecoins. What are stablecoins and how are they used? Stablecoins
Goldman Sachs plans to merge its investment banking businesses across the Asia-Pacific region to provide clients with more integrated advice and capital markets execution, according to a memo seen by the Post on Thursday. The US firm was combining its teams in Japan, Australia and New Zealand, and Asia excluding Japan to form a unified
Hong Kong’s finance chief has revised the city’s deficit for the previous financial year to HK$80.3 billion (US$10.4 billion), 8 per cent lower than his original estimate, attributing the change to increased stamp duty income on stock trading and lower-than-expected departmental expenditure. Financial Secretary Paul Chan Mo-po on Wednesday also revealed that the government would
Goldman Sachs raised its forecast for investment by mainland Chinese in Hong Kong-listed stocks by almost 50 per cent, following the strongest start to the year on record in terms of Stock Connect fund inflows. Net southbound inflows could reach US$110 billion this year, versus a previous forecast of US$75 billion, the Wall Street investment
HONG KONG: A confluence of splashy events in Hong Kong this month, from the Hong Kong Sevens rugby tournament to the Art Basel international art fair, has set the city abuzz. Finance-centred events have also put a spotlight on the Chinese special administrative region, including the second Milken Institute Global Investors’ Symposium that was held