15 h. ago Emperor’s US$2 billion debt woes reflect Hong Kong’s property market risks

Hong Kong developer Emperor International Holdings’ inability to repay HK$16.6 billion (US$2.1 billion) in loans highlights a growing debt crisis among small and medium-sized developers in the city, prompting analysts to warn of more defaults. “High debt ratios have become a mainstream condition among Hong Kong developers, particularly mid-sized developers” amid dropping valuations, low demand, high vacancy rates, falling rental income and high interest rates, said Glen Ho, national turnaround...

Economics

32 h. ago Why India’s real estate surge doesn’t make it a substitute for China

Divergences and idiosyncrasies are an important part of Asia’s real estate landscape. Whether it is the stark contrast between Seoul’s remarkably resilient office market and its ailing counterpart in Hong Kong or the big difference between Japan’s mature and institutionalised rental housing market and its nascent peers elsewhere in the region, Asia’s property sector is far from homogeneous. Yet among the leading economies in the region, the performance gap between China and India is far and away...

Politics

32 h. ago Don’t overhype the diverging fortunes of Chinese and Indian real estate

Divergences and idiosyncrasies are an important part of Asia’s real estate landscape. Whether it is the stark contrast between Seoul’s remarkably resilient office market and its ailing counterpart in Hong Kong or the big difference between Japan’s mature and institutionalised rental housing market and its nascent peers elsewhere in the region, Asia’s property sector is far from homogeneous. Yet among the leading economies in the region, the performance gap between China and India is far and away...

Politics

39 h. ago Rebound in Hong Kong’s home prices unlikely to come this year: analysts

The improving sentiment in Hong Kong’s property market has spurred hope for a sustainable recovery in home prices, but analysts suggest the rebound is unlikely to come this year due to an uptrend in mortgage rates and a nagging supply glut. As of Friday, about 9,150 first-hand transactions had been recorded so far this year, a 3.9 per cent increase from a year earlier and a six-year high since 11,580 transactions were recorded in the first half of 2019, according to agents. Growth for lived-in...

Politics

5 d. ago Hong Kong makes public stablecoin adoption a top priority in digital asset push

The Hong Kong government has pledged to promote the public adoption of licensed stablecoins, unveiling a broad set of new digital asset (DA) policies as the city seeks to cement its role as a global cryptocurrency hub while serving as a test bed for Beijing’s fintech aspirations. In the “Policy Statement 2.0 on the Development of Digital Assets in Hong Kong” released on Thursday, the government called for market proposals to test stablecoin applications in public scenarios and a legislative...

Politics

5 d. ago Hong Kong steps into currency market to defend local dollar’s peg

The Hong Kong Monetary Authority (HKMA) has stepped into the financial market for the first time since 2023 to support the weak local dollar, in an effort to thwart currency arbitrageurs who engage in so-called carry trades. The city’s de facto central bank sold US$1.2 billion worth of US dollars to buy Hong Kong currency at HK$7.85 per US dollar, according to a statement on Thursday. The action came after the local currency hit the weak end of its trading band at HK$7.85. The Hong Kong...

Politics

5 d. ago Hong Kong steps into the currency market to defend local dollar’s peg

The Hong Kong Monetary Authority (HKMA) has stepped into the financial markets for the first time since 2023 to support the weak local dollar, in an effort to thwart currency arbitrageurs who engage in so-called carry trades. The city’s de facto central bank sold US$1.2 billion worth of US dollars to buy Hong Kong currency at HK$7.85 per US dollar, according to a statement on Thursday. The action came after the local currency hit the weak end of its trading band at HK$7.85. The Hong Kong...

Politics

6 d. ago Hong Kong investors hit jackpot as IPO boom delivers returns above 30%

A blistering recovery in Hong Kong’s initial public offering (IPO) market this year has delivered a bonanza for investors, with returns above 30 per cent bucking a sluggish economy and languid property market. Holding new shares from the 34 companies that have pulled off offerings in 2025 would generate an average return of 34 per cent, according to Bloomberg data. Even selling the stocks upon their debuts would have fetched a 10 per cent gain, the data showed. The eye-popping returns have...

Economics

8 d. ago China Market Update: It’s The End Of The World, Hong Kong & Chinese Stocks Feel Fine

China Market Update: It’s The End Of The World, Hong Kong & Chinese Stocks Feel Fine  Forbes

Politics

9 d. ago China’s property slump drives Hong Kong investors to Japan amid yen weakness

Global investors, including those based in Hong Kong, are channelling their funds into Japan’s residential property market as returns from assets in mainland China sag in the midst of a four-year slump, according to market consultants. They ploughed in US$11.2 billion of capital into Japanese real estate in the first quarter, or 6 per cent above the five-year average, according to data compiled by Colliers, making it the fifth largest recipient globally. Investors from the US, Singapore and Hong...

Economics

1 week ago Xia on Hong Kong’s future: capable governance, efficient market, supportive society

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. New users who download our updated app get a seven-day free trial. Beijing’s point man on Hong Kong affairs is addressing a national security law forum on Saturday as part of his third inspection visit to the city to assess its progress on multiple fronts. Xia Baolong’s attendance at the forum, which is being held to mark the fifth anniversary of the...

Politics

1 week ago Hong Kong home market on brink of turnaround, Morgan Stanley says

Hong Kong’s residential property segment is on the verge of a turnaround that could last between four and five years, with home prices likely to rise starting in the second half of the year, according to Morgan Stanley. The US investment bank said the first half of the year would end with prices down 2 per cent from a year earlier, while prices in the second half would rise 2 per cent year on year. The call essentially moves the recovery forward in time and smooths it out compared with the...

Politics

1 week ago Hong Kong subdivided flat owners ‘may pass on costs to tenants under new rules’

Owners of shoebox homes may pass on the extra costs of meeting proposed minimum standards to tenants or consider pulling out of the market, a trade group has said, with Hong Kong authorities pressing ahead with a regulatory regime to oversee the city’s notorious subdivided flats. Hayson Chan Hin-hay, chairman of the Hong Kong Basic Housing Units Operators Association, told a radio programme on Friday that certification costs alone for a flat subdivided into four units could be as high as...

Politics

1 week ago Hong Kong to be Chinese companies’ launch pad in Shanghai pact

Mainland Chinese companies will use Hong Kong’s capital market as the launch pad for their global growth, according to an action plan signed on Wednesday with Shanghai to connect the premier onshore commercial city with the nation’s offshore financial hub. The two cities will expand the decade-old connect programme linking the stock markets of Shanghai and Hong Kong with more equities, bonds, exchange-traded funds (ETFs) and gold, as well as working on cross-border settlements and uses of the...

Politics

1 week ago MingMed seeks Hong Kong listing to fund research and launch Botox alternative

MingMed Biotechnology is seeking a Hong Kong listing this year to raise funds to research and market a genetically engineered alternative to Botox in China. The drug developer, based in the Nansha district of Guangzhou, said it would set up an incubation centre in the Hong Kong Science and Technology Park in the third quarter. “Hong Kong has many good universities and research institutes, but it [does not have] a lot of innovative biotech firms,” said MingMed CEO Zhang Yan in an interview on...

Politics

2 w. ago Indebted owner’s luxury property on The Peak on sale at 30% discount

Distressed sales in Hong Kong’s luxury property market persist, with a mansion on The Peak now listed at two-thirds the purchase price six years ago. The three-storey detached house in Twelve Peaks at 12 Mount Kellett Road, developed by Sun Hung Kai Properties, has been put up for sale for HK$330 million (US$42 million) by the creditor, according to Colliers, which has been appointed as the sole agent for the asset. Yip Yuen Sai bought the property for HK$450 million in 2019, according to the...

Economics

3 w. ago Hibor plunge a bigger deal for stock market than Hong Kong’s property sector

Hong Kong needs all the help it can get. Since 2018, the city has suffered one shock after another, preventing a meaningful recovery from taking hold and fuelling concerns about its position as a global financial centre. As an importer of US monetary policy with an economy that is far more synchronised with that of mainland China, Hong Kong has been the biggest casualty of economic and policy divergence between the world’s two largest economies, prompting renewed questions about the suitability...

Economics

3 w. ago Hong Kong housing market bound for gradual recovery: analyst

Hong Kong’s housing market is poised for a gradual recovery starting in the second half of this year, as population inflows, falling interest rates and a rebound in rental demand restore confidence, according to Bocom International. The investment bank said home prices could rise by 3 per cent over the next six months, followed by 5 per cent increases in both 2026 and 2027, as sentiment improved amid declining borrowing costs while returning residents and arriving professionals boosted...

Politics

4 w. ago With Hong Kong’s stablecoin law, mainland firms are preparing for a market boom

Hong Kong’s move to legalise stablecoins – cryptocurrencies that maintain a fixed value by being pegged to a reference asset – is grabbing the attention of mainland institutions, as a leading Chinese brokerage predicts a boom in tokenised real-world assets (RWA) in the city. While Beijing has remained largely quiet on Hong Kong’s new stablecoin bill in the two weeks since it was passed, paving the way for the issuance of such assets in the city, discussions about the market and geopolitical...

Economics

4 w. ago Hong Kong’s real estate market cooled in May, with deals slumping to 3

Property deals in Hong Kong fell to a three-month low in May as caution prevailed amid heightened US-China tensions and stock market volatility, while distressed commercial real estate owners continued to offload assets at heavily discounted prices. Transactions for new and lived-in homes, offices, shops, car parking slots and industrial units dropped 11 per cent month on month to 6,434, the lowest tally since February, according to data from Centaline Property Agency. The value of the deals...

Economics