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Hong Kong to start distributing second batch of HK5,000 consumption vouchers
... recovery. Chan said that the aim of the consumption voucher program is to boost the economy and benefit more people and that the optimization of criteria is in response to the different voices from society over the past two years. After BoC Pay and HSBC s PayMe joined the previous list, residents can store the vouchers in six stored-value facilities. People who do not wish to switch service provider have no need to register again. Chan noted that the six e-payment operators are expected to introduce ...
Updated: 06/13/2022
Traders sell everything but dollar on Fed rate hikes
... accelerated to a fresh 40 year high and consumer sentiment hit a record low. The news has undermined hopes that the Fed will take its foot off the tighening pedal, despite hopes that US inflation has peaked. Max Kettner , chief multi-asset strategist at HSBC , said we had to choose between two bad choices of stronger inflation or weaker growth. The big change from Friday has become more unlikely - that narrow path of goldilocks, that soft landing path. Europe's Stoxx 600 fell 2% to its lowest since March,...
Updated: 06/13/2022
European stocks tumble 2% on inflation fears
... had anticipated, and an unexpectedly hot reading in US consumer prices fueled bets that the Federal Reserve will have to step up its fight against inflation. The index is down 16% from its record high. Max Kettner , chief multi-asset strategist at HSBC , said the problem for risk assets is that they are in a conundrum and we have to choose between two bad choices. Either inflation stays higher for longer, central banks need to do more, and that is bad for risk assets, on the other hand if growth ...
Updated: 06/13/2022
HSBC's Asian division could unlock $26 billion
... Taiwan Strait Jinping Jinping Beau Beau Beau bombers of War Over Taiwan While pledging peace. None of China Alarms US With Private Warnings to Avoid Taiwan Strait None of China Warns of the Risk of War Over Taiwan While pledging peace. A break up of HSBC Holdings Plc's Asian unit could unlock $26.5 billion, or a fifth of its current market value, according to research that could support a push from its largest shareholder to overhaul the bank. In a June 8 report, In Toto Consultancy Ltd. said that ...
Updated: 06/13/2022
ECB rate hike unlikely to boost euro
... epidemic. The mounting risks for Europe's growth outlook could limit the degree to which the ECB can deliver the amount of tightening priced by the market through the end of the year, according to Dominic Bunning , head of European currency research at HSBC Holdings Plc . The euro is down more than 6% against the dollar this year, adding to a nearly 7% slump last year. A 25 basis point ECB hike in July would be its first since 2011, though it has 75 basis points of tightening from the Fed so far this ...
Updated: 06/10/2022
Peru hikes interest rate for 11th time this year
A worker walks past the logo of the Central Reserve Bank of Peru BCRP inside its headquarters building in Lima. PKK' HSBC building in Peru raised its benchmark interest rate by 50 basis points to 5.5% on Thursday, the eleventh consecutive hike, as authorities in the eleteenth consecutive hike? A worker walks past the logo of the Central Reserve Bank of Peru BCRP ...
Updated: 06/09/2022
HSBC's Serai Trade Platform collapses
In this file photo taken on August 3, 2020, a HSBC logo is seen on a wall outside a wall inside a branch of the bank in central London. In this file photo taken on August 3, 2020, a HSBC logo is seen on a wall outside a branch of the bank in central London. DANIEL LEAL AFP HONG KONG - A Hong ...
Updated: 06/09/2022
UK-based senior banker Andre Cronje joins CRISIL
... Europe, China, Hong Kong, Singapore, Australia and Japan. Cronje started his career in the fields of mergers and acquisitions M&A and strategy. Over 25 years he held senior executive positions in the banking sector such as COO of UBS Investment Bank and HSBC Global Banking and Markets. Cronje joined HSBC as the Group General Manager and COO of the Global Banking and Markets division. He was responsible for steering operating model changes and mitigation of non-financial risk, setting up a Conduct and ...
Updated: 06/08/2022
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