Hong Kong market News

Wary of New Security Law, Foreign Firms in Hong Kong Bolster Contingency Plans

Vague provisions in Hong Kong’s new national security law around state secrets and links to foreign entities have put on edge many global businesses in the financial hub, with some consultants and hedge funds updating contingency plans and seeking legal …

Chinese Online Insurer Shouhui Weighs Hong Kong IPO in 2024

Shenzhen Shouhui Technology Group Ltd., a Chinese online insurance platform, is considering an initial public offering in Hong Kong as soon as next year, according to people familiar with the matter. China International Capital Corp. and Huatai Securities Co. are …

Ant-Backed Rural Lender and Micro-Insurance Firm, Chongho, Eyes $500M HK IPO

Chongho Bridge Credit Agricultural Group Co., a Chinese rural bank that offers microcredit and micro-insurance to small businesses, is considering a Hong Kong initial public offering that could raise as much as $500 million, according to people familiar with the …

Huge Fire Rips Through Skyscraper in Hong Kong Shopping District

A 42-story hotel being constructed in one of Hong Kong’s tourism districts went up in flames before firefighters brought the fire under control. The Kimpton Hong Kong, a 492-room luxury hotel to be operated by InterContinental Hotels Group Plc near …

Hong Kong’s Hang Seng Bank Seeks New Bancassurance Partner After QBE Deal Expires

Hang Seng Bank Ltd., a Hong Kong-based lender majority owned by HSBC Holdings Plc, is seeking an insurance partner after its existing agreement with Australia’s QBE Insurance Group Ltd. expired, according to people familiar with the matter. Hang Seng Bank …

Howden Acquires Specialist Broker Expat Marine in Hong Kong

Howden, the international insurance broker, announced the acquisition of the assets of Expat Marine Ltd. (EML), a specialist insurance broker providing employee benefits and general insurance products and advice to clients in Hong Kong. Financial terms of the deal were …

Hong Kong Firms, Including FWD, Are Flagging China Risks in U.S. IPO Filings

Hong Kong-based companies with little to no presence in mainland China are the latest to warn about the risks they face from Beijing’s crackdown on businesses, in a further sign of enhanced disclosures sought by American regulators in filings for …

Hong Kong Tycoon Richard Li’s Insurer FWD Makes U.S. IPO Filing Public

Insurance company FWD Group Holdings Ltd., owned by Hong Kong billionaire Richard Li, made its filing for a stock market listing in the United States public on Thursday, revealing a jump in revenue last year. The insurer, which will list …

U.S. Firms Operating in Hong Kong Face Risks, Warns American Chamber of Commerce

HONG KONG – U.S. businesses operating in Hong Kong should reassess their operations and decide if the risks of operating there are worth the reward, the president of the American Chamber of Commerce in Hong Kong said in an interview …

AXA Partners with Hong Kong Broadband Network to Offer Homeowners Insurance

Hong Kong Broadband Network Ltd. (HKBN) is now offering customers an “All-in-One Home Kit,” complete with fiber broadband service and home insurance from AXA Hong Kong and Macau (AXA). The kit also has a home network security solution and smart …