Band Aid: Hong Kong Spent $6.5 Billion to Defend Its U.S. Dollar Peg

Pegged to the U.S. dollar since 1983, the Hong Kong dollar is usually a dull currency. Except when it isn’t. While its trading band of HK$7.75 to HK$7.85 per U.S. dollar, set in 2005, has ne.....»»

The online retail giant filed an application to list its shares on the Hong Kong Stock Exchange, though it did not provide details on the amount of the new offering......»»

The 2 billion Hong Kong dollar stimulus package targets the tourism and logistics industries......»»

Jonathan Bachman/Getty Images; Dolce & Gabbana/Instagram; Evan Agostini/Invision via AP The NBA this week became the latest in a slew of foreign brands who have landed in hot water in China. Dozens of Western b.....»»

State-owned financial conglomerate China Everbright Group aims to restructure its sprawling business and pursue a billion dollar IPO next year in Hong Kong, three people with direct knowledge of the matter told Reuters on Thursday......»»

Having blown through almost US$7 billion in the last few days to rescue the Hong Kong Dollar from breaking the weaker-end of its .....»»

Overnight trading in HKD offered a brief momen.....»»

The Hong Kong Monetary Authority said Friday that it bought Hong Kong dollars for the second time this week, as it continues to defend the currency’s nearly 35-year old link to the U.S. dollar......»»

Having broken the lower limit of its currency peg band overnight, The Hong Kong Monetary Authority bought the local currency overnight for the first time since the current peg was imposed i.....»»

Remember, the chief of the Hong Kong Monetary Authority sa.....»»

After more than five months of trading at or near the lower band of its currency peg (prompting repeated interventions by the city’s de facto central bank), the Hong Kong Dollar exploded stronger last week, imploding short-HKD carry traders and the c.....»»

The Australian government has warned it intends to block a Hong Kong and Chinese consortium's 13 billion Australian dollar ($9 billion) takeover bid for an energy infrastructure company because it conflicts with Australia's national interest......»»

Shares of Alibaba Group Holdings Ltd. surged more than 5% Monday in Hong Kong trading, after the e-commerce giant was fined a record $2.8 billion by China's antitrust regulator......»»

Shares in Kuaishou Technology nearly tripled from their IPO price in early trading Friday, implying a market value of more than $160 billion, versus nearly $61 billion when the share sale was priced......»»

Alibaba Group Holding Ltd. raised its stock repurchase program late Sunday from $6 billion to $10 billion, but shares still sank in Hong Kong trading amid a antitrust investigation by Chinese regulators......»»

REUTERS/Carlo Allegri He did it — Mike Bloomberg managed to cross the billion dollar threshold in his run for president, according to the latest FEC filings. Bloomberg spent $1,047,623,103 of his own money on the campaign, to be exact. T.....»»

HONG KONG, March 29, 2020 /PRNewswire/ -- TCL Electronics Holdings Limited ("TCL Electronics" or "the Company", stock code: 01070.HK) announced its annual results for th.....»»

HONG KONG, March 24, 2020 /PRNewswire/ -- ANTA Sports Products Limited (2020.HK; "ANTA Sports", the "Company" and all its subsidiaries together as the "ANTA Group") today announced financial results for the f.....»»

WeDoctor will push ahead with a Hong Kong listing and invite pitches from investments banks next week to lead an IPO valuing the Chinese healthcare platform at up to $10 billion, two sources with direct knowledge of the matter said......»»

As much as $5 billion may have flowed out of Hong Kong during the city's long period of unrest, according to analysis by the Bank of England. Julian Satterthwaite reports......»»