Month: July 2024

Jul 31 2024

Hong Kong, Korea, Mainland, Stocks

Ex-Citigroup Sales Trader Sues for 2019 Unfair Dismissal in Hong Kong

by News Desk

No Comments

A former Citigroup Inc. trader in Hong Kong sued the bank for wrongful dismissal in 2019 as part of a saga that prompted regulators in 2022 to impose a $44.6...

Jul 29 2024

Hong Kong, Korea, Mainland, Stocks

Hong Kong’s MPF returns drive assets to record high

by News Desk

No Comments

Hong Kong’s Mandatory Provident Fund scheme earned an investment return of 0.79% from March through to July 22, marking about five straight months of gains that drove the fund’s assets...

Jul 29 2024

Hong Kong, Korea, Mainland, Stocks

China Life and YF Life to start cutting fees for members as eMPF reform gets rolling

by News Desk

No Comments

The first two MPF providers to join the electronic platform will soon cut fees for their members, as the reform starts to save costs for 4.75 million members of Hong...

Jul 27 2024

Hong Kong, Korea, Mainland, Stocks

Mandatory Provident Fund (MPF)

by News Desk

No Comments

2 May 2024 – 6:21PM Hong Kong’s MPF to launch electronic platform in June in major overhaul The Mandatory Provident Fund, Hong Kong’s pension-fund operator, will launch its electronic platform...

Jul 27 2024

Hong Kong, Korea, Mainland, Stocks

‘Circle the wagons’ — state pension funds are dumping Chinese investments

by News Desk

No Comments

Some state lawmakers say they want to protect pension fund investments in China from becoming collateral damage in a possible Indo-Pacific conflict.

Jul 26 2024

Hong Kong, Korea, Mainland, Stocks

HSBC fined S$4.15M for offering incentives to unregistered intermediaries in MPF scheme

by News Desk

No Comments

SINGAPORE: HSBC, the largest lender in Asia, has been fined HK$24 million (approx. S$4.15 million) by Hong Kong’s Mandatory Provident Fund Schemes Authority (MPFA). The penalty stems from HSBC’s …

Jul 26 2024

Hong Kong, Korea, Mainland, Stocks

Exiled pro-democracy Hong Kong activists blocked from accessing pensions

by News Desk

No Comments

Assets, including pension savings, belonging to Ted Hui (許智?), a former pro-democracy legislator who is now based in Australia, were frozen shortly after he fled from Hong Kong in December...

Jul 24 2024

Hong Kong, Korea, Mainland, Stocks

HSBC, Manulife decline comment after report that wanted activists barred from accessing pension funds

by News Desk

No Comments

Financial institutions HSBC and Manulife have declined to comment on a report that two overseas Hong Kong activists wanted under the security law, former lawmaker Ted Hui among them, were...

Jul 24 2024

Hong Kong, Korea, Mainland, Stocks

China’s leaders have floated the idea of raising the retirement age. It hasn’t gone down well

by News Desk

No Comments

Firefighters are pounding the pavement on Vancouver Island for a good cause, after traditional fundraisers were called off due to COVID-19.

Jul 19 2024

Hong Kong, Korea, Mainland, Stocks

Hong Kongers Fleeing to UK Leave $3.8 Billion Trapped Behind

by News Desk

No Comments

As China tightens its control over Hong Kong, a wave of residents are permanently relocating to the UK and leaving their retirement money trapped behind in the Asian financial hub.Normally, anyone …