Asia

01 Apr China’s growing stature in the art market fosters well-informed collectors, demand for advisory services from banks

Posted at 02:30h in Asia

China’s art collectors have done their research when it comes to making purchases, and as China became the world’s second-largest art market in 2023, banks are experiencing higher demand for art advisory services, according to family office advisers.“Art is becoming a key focus in many...

01 Apr Opinion | Lack of clarity sets up Hong Kong’s environmental plans for disaster

Posted at 01:30h in Asia

When it comes to managing our waste, Hong Kong has been a bit of a muddled mess for the past decade, and it looks likely to get worse in the coming months.With hotels and restaurants set to face a ban in just three weeks on...

31 Mar Hong Kong faces shortfall of up to 59,500 beds for university students, creating opportunity for investors, hotel owners

Posted at 08:30h in Asia

The situation has led to several conversions of hotels into student spaces in the past two years, with more in the offing in 2024.Students walk on the campus of Hong Kong University of Science and Technology on October 26, 2023. Photo: May TseNon-local student enrolment...

31 Mar Hong Kong property: Li Ka-shing’s CK Asset lists another 110 flats at Blue Coast after 8,000 buyers jump at first 138

Posted at 07:39h in Asia

CK Asset Holdings, the flagship property developer of Hong Kong billionaire Li Ka-shing, is putting another 110 units at its Blue Coast project on the market after buyers enthusiastically oversubscribed the development’s first batch of flats.The new list includes 20 two-bedroom units and 90 three-bedrooms...

31 Mar Hong Kong grocers feel pain as locals rush to Shenzhen for cheaper prices; luxury and experiential retailers fare better

Posted at 07:30h in Asia

Improved retail sales last year appear to have helped retail landlords, as the average retail rent rose 4 per cent in 2023, according to government data. This put shop rents just 10 per cent below the pre-pandemic peak in February 2019, S&P said.Pedestrians cross a...

31 Mar Asian family businesses must embrace sustainability to enhance their legacy, says chairman of IMC Pan Asia Alliance Group

Posted at 06:30h in Asia

Family-owned businesses like IMCPAA are prominent in the economy, outperforming their non-family peers by 3 per cent since 2006, according to a 2023 survey of 1,000 such companies by Credit Suisse. Of those surveyed, 517 were from the Asia-Pacific region, with a total value of...

31 Mar Overseas investors’ appetite for Chinese stocks continues to recover after second month of buying in March

Posted at 04:00h in Asia

“We’ve seen a shift in stance by foreign investors and that’s a positive signal for Chinese stocks,” said Dong Zhongyun, an analyst at Avic Securities. “It’s worthwhile watching the flows of northbound investment [through the Stock Connects], as that’s where fresh capital comes from, and...

31 Mar China’s first-quarter IPOs plunge 65% as regulator’s focus on listing quality saps pipeline

Posted at 03:00h in Asia

China’s initial public offerings (IPOs) tumbled 65 per cent in the first quarter, a trend that is likely to persist through the year as the securities regulator has pledged to improve the quality of new listings and apply more scrutiny to listing applicants.Twenty-eight companies have...

31 Mar Prudential sees windfall from Hong Kong’s cash-for-residency scheme, Greater Bay Area opportunities, CEO says

Posted at 02:00h in Asia

Hong Kong’s revamped investment-migration programme is paying off for insurers such as Prudential Hong Kong, which is planning to expand its product line to appeal to the wealthy would-be Hongkongers taking advantage of the scheme, according to its top boss.Like peers Manulife and AIA, as...

30 Mar Wang Jianlin’s Wanda unit gets a US$8.4 billion capital injection from PAG-led consortium

Posted at 13:43h in Asia

A consortium of investors agreed to inject capital into a unit owned by the Chinese property magnate Wang Jianlin, offering some relief to a cash-starved developer who has had to sell assets to repay debt.Wang’s Newland Commercial Management unit has received close to 60 billion...