Hong Kong
HSBC staying in London prompts mixed reaction
Industry reaction to the news HSBC would retain its London headquarters was mixed, as higher capital requirements and being “trapped” in the European Union might work against the banking giant.
Hong Kong to allow high risk ETFs under tight controls
Hong Kong’s main securities regulator has announced plans to allow a limited range of leveraged and inverse products, which are effectively higher risk exchange traded funds (ETFs), to be sold to the public.
China curb on credit card premium payments hits insurers
China’s reported crackdown on capital outflows by restricting the use of a major credit card to purchase insurance products in Hong Kong hit shares of some of the region’s top insurers on Wednesday.
China sets new rules for insurance companies
China’s foreign exchange regulator has officially implemented a new capital and risk regime for insurance companies, according to the Chinese news agency Xinhua.
HKEX to push ahead with cross-border bond trading scheme
Hong Kong Exchanges and Clearing (HKEX) has outlined plans to push ahead with the introduction of a ‘Bond Connect’ scheme to give foreign investors wider access to the Chinese debt market, similar to the way the Stock Connect program bolsters trading between Hong Kong and Shanghai.