8 d. ago What does HSBC’s buyout of Hang Seng Bank mean for its future and investors?

Following the January 8 shareholder vote that overwhelmingly approved the largest privatisation deal in Hong Kong’s history, many questions remain about the future of Hang Seng Bank, its stakeholders and the broader financial landscape. For Hang Seng Bank’s shareholders, the immediate question is what to do with the HK$106.16 billion (US$13.6 billion) windfall from HSBC Holdings for acquiring the remaining 37 per cent it does not own. “I invested in Hang Seng Bank for the long term because of...

Economics

1 week ago Hang Seng Bank shareholders set to back HSBC’s privatisation plan for Hong Kong lender

Hong Kong’s banking sector is set for a landmark transformation as thousands of Hang Seng Bank shareholders vote on HSBC Holdings’ bid to take the lender private on Thursday morning. Analysts expected an overwhelming approval for the proposal, which offers shareholders HK$155 a share – 30 per cent higher than Hang Seng Bank’s HK$119 closing price on the last trading day before the announcement on October 9. Since then, HSBC has risen 15 per cent to close at HK$127.20 on Wednesday, on the eve of...

Economics

1 week ago Hang Seng Bank shareholders set to back HSBC’s privatisation plan amid bad debt concerns

Hong Kong’s banking sector is set for a landmark transformation as thousands of Hang Seng Bank shareholders vote on HSBC Holdings’ bid to take the lender private on Thursday morning. Analysts expected an overwhelming approval for the proposal, which offers shareholders HK$155 a share – 30 per cent higher than Hang Seng Bank’s HK$119 closing price on the last trading day before the announcement on October 9. Since then, HSBC has risen 15 per cent to close at HK$127.20 on Wednesday, on the eve of...

Economics

1 week ago Hang Seng Bank shareholders approve HSBC’s US$14 billion privatisation bid

Hong Kong’s banking sector began a new chapter on Thursday as Hang Seng Bank shareholders approved HSBC Holdings’ bid to take the lender private in a deal worth nearly US$14 billion. The proposal, under which HSBC offered shareholders HK$155 a share – 30 per cent higher than Hang Seng Bank’s HK$119 closing price on the last trading day before the announcement on October 9, received strong shareholder support, with 85.75 per cent of the votes, according to Hang Seng Bank. It surpassed the...

Economics

2 w. ago Hong Kong welcomes 6 babies into world in first hour of New Year’s Day

Three girls and three boys were born in Hong Kong’s public and private hospitals in the first hour of New Year’s Day. The CUHK Medical Centre, a private teaching hospital owned by Chinese University, delivered the city’s first baby of 2026 at 12am. The newborn is a boy and his family’s first child. Two minutes later, United Christian Hospital in Kwun Tong delivered a baby girl, weighing 3.02kg (6.66lbs). Another baby, a boy, was born at Kwong Wah Hospital in Yau Ma Tei at 12.06am, weighing...

Politics

2 w. ago Hong Kong private subsidised flat scheme suffers new blow as Tung Chung site reassigned

A residential site, originally earmarked for a pilot scheme allowing private developers to build subsidised homes, will be allocated to Hong Kong’s second-largest public housing provider, marking the latest setback for a venture aimed at boosting the supply of affordable flats. The government said on Tuesday that the site in Tung Chung, originally designated for the Private Subsidised Sale Flat Pilot Scheme, would be handed over to the Hong Kong Housing Society. The announcement marks yet...

Politics

3 w. ago Hong Kong firms hoping new southbound travel scheme will drive more business

A new scheme that allows private cars from Guangdong province to enter Hong Kong’s urban areas has brought business opportunities for some, with users of a popular online platform selling courses on how to drive in the city or one-stop application services for mainland Chinese motorists. Local businesses are also offering perks to drivers using the scheme, ranging from parking discounts to accommodation packages. Under the “Southbound Travel for Guangdong Vehicles (Entry into Urban Area)”...

Transport