商业 香港Hong Kong's 60-year-old Garden Restaurant has closed its Kennedy Town branch, posting a four-word notice indicating an indefinite closure. The move comes as several other well-known eateries, including Taiwanese brands, have shut down in the city. The closure has sparked concern among locals, who are worried about the future of Hong Kong's dining scene.
香港Maye Musk, mother of billionaire entrepreneur Elon Musk, recently visited Hong Kong to share her insights on leadership, resilience, and legacy at the AIA Leadership Forum. She emphasized the importance of allowing children to take risks and learn from their failures. Maye Musk is a renowned author, model, and nutritionist who has led a busy life, often surpassing her son's schedule.
香港A historically accurate risk indicator has raised concerns about the stability of the US stock market, fueled by the dominance of AI-driven companies. The warning comes as Morgan Stanley strategists predict a potential 5-10% decline in the S&P 500 index, with five major tech giants propping up the market. Meanwhile, US banks are warning about the risks of AI-driven trading in the bond market.
香港The Hong Kong property market is experiencing a slowdown, with a decrease in the number of buyers and a decline in prices. According to reports, property agents are still claiming that the market is stable, but residents are no longer believing them. Meanwhile, some areas in Hong Kong are experiencing a slight increase in property prices, and experts predict a potential recovery in the residential market.
香港Taiwan Semiconductor Manufacturing Company (TSMC) is reportedly considering building a chip factory in Texas, with an estimated investment of at least $20 billion. The project would be a significant expansion of TSMC's presence in the US, potentially surpassing the European Union's investment. TSMC is also in talks with Elon Musk's Terafab to collaborate on a superchip project.
香港Hong Kong's electric charging infrastructure has reached a record-breaking scale, with many idle on weekdays. However, during the recent National Day holiday, many electric vehicle owners experienced long wait times and limited charging capacity. The issue has affected various highways and service areas, with some drivers waiting for up to 5 hours to charge their vehicles.
香港The Hong Kong government has announced a 2.35% increase in the minimum wage for foreign domestic workers, raising it to HK$5,220. The decision was made by Secretary for Labour and Welfare, Sonny Sun, who stated that the increase is 'reasonable and moderate'. The food allowance for these workers remains unchanged at HK$1,236.
香港The Renminbi has surpassed the 6.7 threshold against the US dollar, with some experts attributing this to an unexpected strengthening of the currency's mid-point price. This development comes as the US Federal Reserve raised interest rates, affecting currency exchange. The Renminbi's appreciation has significant implications for trade and investment between China and the US.
香港Hong Kong's pension scheme, '積金易', will launch a new one-stop service on Monday, allowing users to easily inquire about their account data. This move aims to reduce the time spent on account data inquiries. The new service will also facilitate inheritance inquiries, making it more convenient for users to manage their pension accounts.
香港US stocks closed higher on Friday, with the S&P 500 index rising 1.2% and the Dow Jones Industrial Average increasing 250 points. The gains came as the odds of a rate hike in October fell to 20%. The unexpected drop in September's non-farm employment numbers contributed to the shift in market expectations.
香港The G7 has agreed to release 1 billion barrels of oil reserves over four months. This decision comes amid rising oil prices and ongoing tensions between the US and Iran. The move aims to stabilize the global oil market and prevent further price hikes.
香港The Hong Kong ADR index remained stable, despite a general decline in ADRs of major companies such as Tencent, Meituan, and JD.com. Financial stocks, however, showed a rebound, with HSBC ADR rising 0.9%. The prices of ADRs in Hong Kong were generally lower compared to their US counterparts.
香港Hong Kong's Posession Bay I has received over 15,000 bookings for its new phase of 98 units. The development is expected to go on sale this weekend. The strong demand comes after the project's first phase saw 7,000 bookings on its first day. The new phase will offer units at a price of around HK$14,400 per square foot.
香港Hong Kong's 11 SKIES, a luxury residential complex in the city's Airport City, is set to be repurposed as a high-end consumption landmark. According to reports, the development's owner, New World Group, plans to upgrade and transform the site. This move comes as the property market in Hong Kong continues to evolve.
香港Hong Kong welcomed a record 277,000 mainland tourists during the National Day holiday, surpassing the pre-pandemic peak. The influx of visitors led to increased demand for flights and accommodations. The surge in tourism is expected to boost the local economy, with hotels anticipating higher sales than last year.
香港Sincere Department Store has announced that its Central branch will close by the end of the year. The store plans to relocate to a new location in the Mid-Levels or Upper Levels area. This move comes as the store's lease agreement is set to expire. The closure marks the end of an over 100-year presence in the Central area.
