Companies, markets, the economy and personal finance.
Chinese independent refiners have increased purchases of Iraqi and Qatari crude for October and November delivery to replace falling Iranian supplies, traders say. At least 12 million barrels have been bought from trading houses, with some cargoes sold at premiums of US$12 to US$20 a barrel above th
The US trade deficit widened more than expected in August as imports hit a record high, despite tariffs. The shortfall increased 13.7 per cent to US$105.6 billion, with record goods deficits against Mexico, Vietnam and Malaysia, keeping trade on track to weigh on third-quarter GDP.
China's foreign exchange reserves fell to US$3.4 trillion at the end of September, a 1.11 per cent monthly decline, while gold reserves increased for the 23rd consecutive month. The central bank attributed the drop to a stronger US dollar and falling global asset prices.
The International Monetary Fund said hedge fund assets have more than tripled to about US$13 trillion since 2013, warning their use of leverage and opacity can amplify market stress. It urged policymakers to close data gaps and boost risk monitoring.
US Federal Reserve Vice Chair for Supervision Bowman announced a comprehensive overhaul of bank supervision, creating five new geographic regions with individual leaders to improve accountability and decision-making, targeting a start in early 2027.
Young entrepreneurs in Yunnan are returning to their hometowns to start coffee businesses, supported by government loans and a growing tourism industry. Hong Kong investors see opportunities in the sector, with one businessman becoming the exclusive distributor for a local coffee estate to expand in
San Francisco Fed President Daly backs September's rate hike but says further increases depend on whether inflation shocks like tariffs, Middle East oil prices and AI demand are temporary or compounding. Kansas City Fed's Schmid sees need for more hikes despite rising credit costs.
Paramount Skydance completed its US$110 billion takeover of Warner Bros Discovery on 6 October, forming the entertainment giant Skydance. The merger combines studios behind 'Mission: Impossible' and 'Harry Potter' with networks CBS, CNN and HBO Max, creating a company CEO David Ellison will lead.
The S&P 500 index briefly reached an all-time intraday high of 7,817.13 points on Tuesday, driven by AI-related optimism and strong earnings expectations. The tech-heavy Nasdaq also hit record levels, despite concerns over energy prices and bond market volatility.
Standard Chartered opened its seventh Wealth Management Centre in Hong Kong at One Causeway Bay on Tuesday. The 21,000-square-foot centre is the largest of its kind for the bank in the city, aiming to serve affluent clients with cross-border wealth solutions.
Bank of Japan Governor Kazuo Ueda said it was becoming more important to anchor underlying inflation around the central bank's 2 per cent target, signalling readiness to keep raising interest rates. He warned of risks from the US-Israeli war on Iran, AI-related demand and the weak yen.
KPMG forecasts Hong Kong's IPO market could raise a record HK$500 billion in 2026, driven by A+H listings and tech deals. In the first three quarters of 2026, 116 new listings raised over HK$388 billion, more than doubling year-on-year and surpassing all previous nine-month totals.
OpenAI is in discussions with UAE investment funds including MGX and asset manager BlackRock for a US$30 billion funding round. The Gulf funds may contribute up to US$10 billion. The startup is seeking a valuation of roughly US$1.4 trillion.
Sources say the Bank of Japan may signal this month that underlying inflation has roughly hit its 2% target, reinforcing market expectations of a December rate hike. The central bank is cautious about raising rates again in October, preferring to assess past increases' effects.
Japan will discuss action plans to boost crude oil reserves across Asia at a Thursday ministerial meeting in the Philippines, industry minister Ryosei Akazawa said. The initiative, backed by US$10 billion in financial support, aims to strengthen energy security amid supply disruptions from the US-Is
The head of the Bank for International Settlements warns that rising public debt, the growth of non-bank financial institutions, and new technologies could make it harder for central banks to manage future financial crises and maintain public trust.
Elon Musk's net worth hit US$1.04 trillion on 5 October, regaining trillionaire status after shares of SpaceX and Tesla surged, adding US$65 billion in a day, according to the Bloomberg Billionaires Index.
Hong Kong property developer New World Development has launched a debt exchange offer allowing bondholders to swap notes due in 2027 and 2028 for new secured notes maturing in 2032. The offer covers US$991m of outstanding notes and aims to ease near-term repayment pressure amid a prolonged property
Hong Kong's Hang Seng Index climbed 0.7 per cent in early Tuesday trading, tracking a Wall Street rally. The rise was led by a 2.1 per cent surge in Nvidia, which reached a record close and a market value of US$5.76 trillion.
CSTS Hospitality, a joint venture between CSTS Enterprises and Shankai Sports, has been appointed exclusive sales agent for UEFA Euro 2028 official hospitality packages across six Asian markets including Hong Kong and mainland China.
Sony Group will not exhibit at CES 2027, ending a continuous presence since 1967. The Japanese conglomerate said its focus has shifted toward entertainment and creator technology, reducing the strategic value of a hardware-led exhibition. The move follows Panasonic's similar decision and reshapes th
The Nasdaq composite index posted a record-high close on Monday, driven by gains in Nvidia and Microsoft, as investors focused on falling oil prices and looked ahead to third-quarter earnings. The S&P 500 also rose, ending about 0.3 per cent below its August record close.
Two US service sector surveys show divergent results. ISM non-manufacturing PMI fell to 54.9 in September, below expectations, while S&P Global's services PMI rose to 58.8, a five-year high. S&P Global forecasts Q3 annualised GDP growth of about 4%, with September alone at 5%.
Chubb Wealth's Q4 2026 outlook advises investors to diversify across bonds, AI, and alternatives, citing an uneven global economy. The report highlights regional opportunities in Asia and a softer US dollar.
Wall Street indexes opened mixed on Monday with tech stocks easing from recent highs. The S&P 500 and Nasdaq posted slight gains while the Dow Jones fell. Investors watched Treasury yields and oil prices for monetary policy signals.
Cenovus Energy, backed by CK Hutchison, agrees to acquire Athabasca Oil Corporation for US$5.7 billion. The deal boosts thermal production to 115,000 barrels per day by 2032 and is expected to yield US$85 million in annual synergies.
Bain Capital partner James Tam expects sustainable aviation fuel demand to grow as blending mandates spread from Europe to Asia, with China likely to require SAF in coming years. EcoCeres, the world's second-largest SAF producer, plans a Hong Kong IPO that could raise about US$1 billion.
CK Hutchison has postponed the dual listing of its health and beauty chain AS Watson in Hong Kong and London to 2027, aiming for a US$30 billion valuation, pending China's cybersecurity approval. The delay follows broader IPO market cooling in Europe and the US, with several companies suspending or
Saudi Arabia and the UAE plan to cooperate with Asian countries on oil stockpiling, with Japan offering financial and technical support. The initiative will be discussed at an AZEC ministerial meeting in the Philippines on Thursday, with details to be finalised bilaterally.
Panmure Liberum predicts the S&P 500 will fall to 5,000 points by end-2027, warning the equity bull market may end sooner than expected. The British brokerage cites stubborn inflation, rising bond yields and interest rates as headwinds, contrasting with other brokerages forecasting further gains.
Chinese chemicals maker Guangzhou Tinci Materials Technology aims to raise US$400m to US$500m in a Hong Kong listing, a lower target than previously reported. The Shenzhen-listed firm seeks proceeds for global expansion, including a lithium-ion battery project in Morocco.
Hong Kong shares recovered from an early drop to close 68 points higher, breaching the 24,000-point level. Trading turnover fell to HK$98.1 billion, while technology and property stocks showed mixed results.
Sincere Department Store's Central branch will close in early December after failing to renew its lease. The group plans to find a new location in Central or Sheung Wan.
HKEX CEO Tse Yiu-ting says tech stocks now account for 43% of daily turnover, up from 20-25%, but warns against market over-concentration on AI. She vows to ensure inclusivity for other sectors and smaller firms, while exploring tokenisation of real-world assets and carbon credits.
The euro fell to a 17-month low against the US dollar on Monday, driven by France's fiscal troubles and political uncertainty ahead of the 2027 election. Analysts are split on whether the crisis will spread across the euro zone, with some warning of contagion.
Gold prices rose on Monday as soft US jobs data lowered expectations of a Federal Reserve rate hike in October, boosting the appeal of the non-yielding asset. Spot gold gained 0.4 per cent to US$4,158.17 per ounce, with traders now seeing a 22 per cent probability of an October hike, down from 64 pe
Japan's Nikkei share average rose more than 2 per cent to a three-month high on Monday, boosted by AI-related stocks following Wall Street gains. Chip-related Advantest and Tokyo Electron led the surge, while the broader Topix also rose. A strategist said the AI rally will continue but markets will
Japan's 30-year government bond yield rose to a record 4.235 per cent on Monday as markets awaited Prime Minister Sanae Takaichi's remarks. Investors are watching for signs of a policy shift under US pressure to stem yen weakness, with yields expected to rise further if she maintains expansionary sp
Britain is preparing possible tariffs on Chinese electric vehicle imports amid concerns about state-subsidised cars flooding the market, The Times reported. Business minister Jonathan Reynolds is drawing up a package, and ministers may match the EU's 45 per cent levy. The government said no tariffs
Hong Kong's Hang Seng Index fell 43 points, or 0.2 per cent, to 23,929 in early Monday trading. The Hang Seng Tech Index edged up 0.1 per cent. Regional and global markets showed mixed results, with Japan's Nikkei rising 2 per cent while gold and US index futures advanced.
Markets are watching this week's US Treasury auctions of 10- and 30-year bonds totalling over $61 billion, as long-term yields hit 24-year highs. The Federal Reserve will release minutes from its September meeting, where it raised rates for the first time in three years, after weak jobs data sharply
Seven OPEC+ major oil producers, including Saudi Arabia and Russia, decided in an online meeting to maintain November output at September levels. The move comes amid ongoing Middle East conflicts that have constrained Gulf exports to 60-80 per cent of normal capacity.
Hong Kong Financial Secretary Paul Chan said the first three days of National Day Golden Week saw over 732,000 mainland visitors, up 8.4% year-on-year. Chan also highlighted growing cooperation with the Middle East and Global South during a recent trip to Qatar for the AIIB annual meeting.
HKIC CEO Cindy Chan said the firm is patient capital, not focused on short-term market fluctuations. She noted a new offshore yuan venture capital fund has begun investing in AI and brain-computer interfaces. The firm prioritises early-stage investments and aims to root portfolio companies in Hong K
Hong Kong Investment Corporation CEO says over 30 portfolio firms plan to apply for a Hong Kong listing by year-end. HKIC has invested in over 200 projects, with 11 already listed. It also plans a cross-regional innovation platform with top universities.
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