WASHINGTON/HONG KONG, Nov 12 Global index
providers may need to review Hong Kong's developed market
classification if Beijing's interference in the former British
colony starts to undermine its regulatory independence, the
former head of benchmark giant FTSE Russell said.
HONG KONG Retail investors placed bids for a record $3 trillion of shares in Ant Group Co Ltd's dual listing in an unprecedented show of interest by mom-and-pop savers betting on demand for its financial services in China.
NEW YORK/HONG KONG Large Wall Street banks have been running "war game" drills in their trading businesses and preparing clients for unexpected scenarios around the U.S. election next week, hoping to avoid liquidity crunches or technical errors as markets react to news of who will be running the White House and Congress, industry sources said.
HONG KONG/Zurich Swiss private bank Julius Baer Gruppe AG plans to set up business in China in partnership with a local financial firm as part of its strategy to boost growth in Asia, people with direct knowledge of the matter told Reuters.
HONG KONG/LONDON Standard Chartered posted a smaller-than-expected 40% slide in third-quarter profit as it lowered loan loss expectations linked to the coronavirus pandemic, but warned it would take longer to hit a key profitability target.
HONG KONG/LONDON HSBC Holdings PLC on Tuesday signalled it would embark on a pandemic-induced overhaul of its business model, seeking to flip its main source of income from interest rate to fee-based businesses. | Video