CLB Business and Property Desk

Estate agents report that new property launches have become the market focus, with secondary market sales slowing significantly over the past weekend. The top 10 secondary housing estates recorded only five transactions, down four from the previous week.

R.E. Lee International CEO Calvin Lo says he worries less about AI being wrong than about millions acting on the same correct answer, which can change outcomes. He warns that fast AI answers can mislead people into making slow-to-reverse decisions in careers, investments and parenting.

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

US President Donald Trump is using his remaining two years in office to plaster his name on government buildings in Washington DC, including the renamed Donald J Trump Institute of Peace. He is also rushing to complete a US$600 million White House ballroom before his term ends, hoping the project wi

China is deploying specialist teams to track wealthy individuals and has revised offshore trust rules, launching its largest tax recovery campaign against Hong Kong businesses in years. The campaign targets over US$1.7 trillion (HK$13.26 trillion) in assets held in Hong Kong by Chinese residents, wi

Gaw Capital Real Estate Private Debt OFC has filed a preliminary prospectus for a Hong Kong listing, aiming to offer retail investors access to institutional-grade real estate debt investments. The closed-end fund targets a hypothetical HK$2.29 billion portfolio across Asia-Pacific and the Middle Ea

South Korean President Lee Jae Myung has ordered a probe into recent data leaks at banks and public agencies. Authorities suspect AI may have been used in the attacks and are calling for an AI-powered defence. IP addresses linked to the breaches span several countries.

Financial Secretary Paul Chan says cooperation between Hong Kong and the Middle East and Global South is moving beyond capital flows to innovation, technology, and institutional development. He notes Middle Eastern funds are increasing participation in Hong Kong IPOs, and local family businesses are

Hong Kong developer K&K Property has pledged to cooperate fully after the Buildings Department confirmed an investigation into improper steel reinforcement at its One Stanley project. The department found that a ground-floor beam lacked required wire mesh and that some slab reinforcement deviated fr

A four-bedroom flat at Kerry Properties' Mont Verra in Beacon Hill has been sold for HK$260 million via tender, setting a new record for first-hand residential units in Kowloon this year. The 4,483-sq-ft unit transacted at HK$57,997 per sq ft.

Yuexiu Property has released the second price list for its The Atlas I project in Yau Tong, offering 98 units at an average discounted price of HK$14,468 per square foot. The batch, comprising 52 one-bedroom and 46 two-bedroom units, saw over 15,000 checks by Saturday noon, making the 226 units in t

China Resources Land's The Sterling II fully sold all 129 price-listed flats in its second sales round on Saturday, raising about HK$297 million from 18 tender units. A bulk buyer purchased four units for over HK$39.53 million, and total sales across five rounds reached 815 units worth about HK$8.04

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.

United Overseas Plaza in Kwun Tong is set to be converted into student accommodation with 240 rooms and 434 hostel beds, following a failed commercial redevelopment plan. The Wong family, owners of the property, have applied under the Hostels in the City Scheme.

The government's residential site on Fat Kwong Street in Ho Man Tin received at least 10 tenders, including from major developers. The 208,000 sq ft site is expected to provide about 250 units in a luxury district, with market valuations between HK$1.87 billion and HK$2.81 billion.