Companies, markets, the economy and personal finance.
Bank of England Governor Andrew Bailey said governments must show credible plans to repair public finances as global bond markets face pressure from high debt and rising inflation. He warned that bond markets have become more brittle and that commitments to rein in debt are needed more than ever dur
US stocks opened lower on Thursday as oil prices surged and Treasury yields hovered near multi-year highs, stoking inflation worries ahead of an earnings season. The Dow fell 0.35 per cent, the S&P 500 dropped 0.37 per cent and the Nasdaq declined 0.49 per cent at the opening bell.
Sanegene Bio, a clinical-stage Chinese biotech firm focused on RNA interference therapeutics, plans a Hong Kong IPO next year that could raise several hundred million US dollars. It has confidentially filed for the deal, with Morgan Stanley and CICC as joint sponsors.
CITIC Bank International predicts US 10-year Treasury yields could rise to 5.5 per cent this quarter amid sustained selling of US and European bonds. The bank also forecasts Hong Kong's best lending rate may rise twice this year, while home prices could fall 2 per cent in the quarter.
Brake pedal brackets on three Huawei-JAC Zunjie V800 electric vehicles snapped during emergency braking tests, causing JAC Motors shares to plunge 10.01% and wiping out HK$7.26 billion in market value. The automaker says it is monitoring the situation, while Huawei has not commented.
Hong Kong regulators have issued a joint statement addressing the rising number of listed issuers with going concern disclaimers, rising from 12 in 2017 to 95 in 2025. They clarified expectations for management, audit committees and auditors, warning of possible Listing Rules amendments if improveme
Federal Reserve Governor Christopher Waller said on Thursday additional rate hikes will likely be needed to lower inflation to the 2 per cent target, but added there is 'flexibility' about the pace, leaving the door open for a pause at the October meeting. He cited a strengthening economy, an unreso
The Hong Kong Trade Development Council will launch a ‘Global Connect’ zone at its International Eco Expo from 26 October, helping mainland green-tech firms access international markets via Hong Kong professional services. Over 340 exhibitors from 16 countries are expected, with first-time participa
Hong Kong shares fell 344 points, or 1.4 per cent, to close at 23,785, a three-month low, dragged by financial and artificial-intelligence related stocks. The technology index dropped nearly 2.9 per cent, while turnover jumped to about HK$207 billion as mainland markets resumed trading after the Nat
Chinese mainland stock markets fell on their return from the National Day holiday, with the Shanghai composite index hitting a two-month closing low. AI hardware stocks led declines, while banks and energy shares rose.
Hong Kong’s Bar Leone has been named The World’s Best Bar for 2026, retaining the title it won in 2025. Co-founded by Lorenzo Antinori, the venue also took the Best Bar in Asia crown for a second consecutive year.
Fast Retailing, owner of Uniqlo, posted a 32% rise in annual operating profit to ¥743.13bn, beating forecasts, driven by strong global demand. The company forecast higher profit next year but warned a weak yen and higher import costs would weigh on Japan.
AIA Alta, AIA Hong Kong & Macau's high-net-worth proposition, has announced an exclusive partnership with Chi Longevity Singapore to launch a longevity centre in Hong Kong later this year. Eligible customers will access evidence-based longevity science solutions for healthy ageing.
TSMC reported record third-quarter revenue of NT$1.49 trillion (HK$366.65 billion), up 50 per cent year-on-year and above market forecasts, driven by surging demand for artificial intelligence applications. The company, Asia's most valuable listed firm, will report full earnings next week.
In September, Hong Kong saw 3,778 new pre-sale consent applications, a 2.4-fold jump month-on-month, driven by a single Fanling project. Analysts say developers are prioritizing completed or near-completed projects for launch, with pricing expected to stay competitive.
Shanghai Biren Technology shares fell 6 per cent after the AI chipmaker announced a HK$4 billion share sale, its second fundraising in three months. The company is selling 130 million H shares at HK$31.08 each, a near 10 per cent discount to the last close.
China's onshore yuan traded steady on Thursday as mainland markets reopened after the Golden Week holiday. The offshore yuan strengthened during the break despite a strong dollar, with analysts suggesting the yuan's appreciation trend remains intact.
Samsung Electronics projected a record quarterly operating profit of 107.4 trillion won (US$80.17 billion), a nearly nine-fold jump, driven by booming AI chip demand. The company cited tight memory supply and expects the imbalance to persist into 2028, though risks from Chinese competition and US ta
The Hang Seng Index fell 56 points, or 0.2 per cent, to 24,074 points in early trading on Thursday, while the Hang Seng Tech Index dropped 1.8 per cent. Regional markets were mixed, with Japan and South Korea down, but European and US futures showed little change.
US 10-year and 30-year Treasury yields hit 24-year highs before retreating after a strong $39 billion bond auction. The dollar index rose above 102 and held gains after the Fed minutes, while the euro and pound fell.
Minutes from the US Federal Reserve's September meeting reveal divisions over the reasoning for a quarter-point rate hike. Some saw it as insurance against persistent inflation, while others viewed it as necessary to counter demand-driven pressures. The debate sets up a contentious October meeting.
Webull shares fell over 18 per cent after CNBC reported a US House panel found the trading platform structurally tied to China's government, with analysts citing regulatory uncertainty.
The International Energy Agency and European Union are discussing a proposal to release oil and diesel stocks amid record diesel prices driven by war and refinery damage. G7 countries agreed on Friday to release 100 million barrels, though analysts say much of this may complete a prior March release
Wall Street's main indexes opened lower on Wednesday as rising Treasury yields and oil prices kept investors cautious ahead of the release of the Federal Reserve's September meeting minutes.
The yield on the US 30-year bond hit a fresh 24-year high of 5.7041 per cent on Wednesday, as a global bond selloff resumed amid inflation and fiscal worries. Traders awaited Treasury auctions later in the week to test appetite for US debt.
Cosmetics retailer Sasa announced that its offline sales in Hong Kong and Macau rose over 60 per cent year-on-year during the National Day holiday. The group also posted a 37 per cent increase in total turnover for the last quarter, driven by strong offline growth.
Anta Sports has completed a €1.5055bn cash deal to buy a 29.06% stake in Puma from Artémis, becoming the largest shareholder. The move is part of Anta's global strategy to boost its influence in the sports goods market. Anta says it has no plans to launch a takeover offer for Puma.
Citi has been ranked the top global underwriter for initial public offerings year to date, with a 6.78 per cent market share as of 7 October, according to Bloomberg data.
Hong Kong's Securities and Futures Commission will implement revised rules for retail funds from next month, including a new value-at-risk calculation method and updated liquidity risk management standards, to align with international norms and enhance investor protection.
Hang Seng Indexes will implement six revisions to its technology index methodology following a market consultation where each proposal received over 80% support. Changes include expanding tech themes, introducing a group stock selection mechanism, and increasing constituent stocks from 30 to 50.
New World Development reports K11 MUSEA's tourist spending rose 26 per cent year-on-year during the National Day Golden Week, with record foot traffic. Jewellery and watches drove high-value sales, while sportswear member spending surged nearly threefold.
Gold prices fell nearly 1 per cent on 7 October as the US dollar strengthened. Investors awaited US Federal Reserve minutes for clarity on rate-hike support. Market expectations for a December hike stood at 86 per cent, though a softer jobs report led most to expect no move in October.
Workers at a Micron Technology plant in Taiwan have voted to strike after talks over bonus reforms collapsed. The union seeks a one-off bonus of 83 months' salary and a permanent profit-sharing system allocating 15 per cent of operating profits to workers.
Jiangsu Slender West Lake Culture and Tourism, a Yangzhou-based state-owned water tourism firm, passed its Hong Kong listing hearing on 7 October. The company plans to use proceeds for a water-based immersive project and boat upgrades. Its net profit fell 5.3 per cent in the first half.
Shenzhen Transsion, Africa's largest phone seller, has started bookbuilding for its Hong Kong share sale, aiming to raise HK$3.36 billion. The company plans to list on October 15, with proceeds earmarked for AI research and other areas.
Emmanuel Moulin, head of the Bank of France, said on Wednesday that France does not currently need European Central Bank intervention despite serious economic conditions. He argued the solution lies in passing a budget to cut the deficit, as borrowing costs surge and the euro selloff continues.
India's central bank raised its benchmark repo rate by 25 basis points to 5.5 per cent, the first hike in nearly four years, and shifted its policy stance to 'gradual tightening' as inflation stayed above target.
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.
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