Hong Kong
August retail sales plunge in worst performance on record since 1998
Sales crashed 23% in August, worse than that recorded during the Asian Financial Crisis.
August retail sales plunge in worst performance on record since 1998
Sales crashed 23% in August, worse than that recorded during the Asian Financial Crisis.
Approved mortgage loans dipped 2.8% to $45.3b
The number of mortgage applications also decreased by 26.5% MoM.
Mall rents slashed by up to 25%
Protests have hit Causeway Bay and Tsim Sha Tsui rents the hardest.
Kowloon office leasing demand weakens further in August
Monthly rent in Admiralty fell 9.4% to $105.5 psf.
Costs of completed buildings totalled $2.4b in July
Another 110,548 sqm of new buildings will be added to the supply pipeline.
Q2 current account surplus more than doubled to $37.8b
This was due to a decline in the goods deficit and growth in the net inflow of primary income.
External debt hits $12.76t in Q2
However, the banking sector’s ED dipped.
Financial non-reserve assets hit $38.1b in Q2
External financial abilities and assets also stood at $42.96t.
Hong Kong amongst world's rising stars for trade potential: StanChart
The city nearly broke into the world’s top 10.
TNG opens hub to nurture Hong Kong's fintech talent
Located at the heart of Hong Kong Island, the 25,800 sqft space aims to serve the thriving fintech community.
The changing role of the in-house legal team in Hong Kong
Today, most big businesses in Hong Kong will have some form of in-house legal function. In an environment where regulation and legislation are constantly changing and more companies are operating on a pan-Asian basis, it is essential.
Inflation hits 3.5% in August
Food prices soared 14.2% in August.
IWG makes Regus and Spaces brands available for franchising
It will provide infrastructure, training and tools for franchisees.
Ping An leads $117.4m investment in AI software firm
The company markets AI imaging software in hospitals.
Residential market sentiment deteriorates in August
Rental demand recorded its first negative reading in the survey's history.
Jobless rate unchanged at 2.9% in June-August
This translates to 120,000 unemployed individuals.
National income rises in Q2 as mainland investments flood Hong Kong
The total inflow of primary income recorded a 4.1% YoY rise to $478.2b during this period.
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