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Markets

Hong Kong gold push delivers record US$732 million ETF inflows in April

As investors hedge against global risks, Hong Kong’s gold ETF inflows reinforce its emergence as a key trading centre Hong Kong’s push to become a gold trading hub is beginning to bear fruit, with the city recording a surge in gold exchange-traded fund (ETF) inflows in April as geopolitical tensions fuel investor demand for the yellow metal, according to industry participants. Physically backed gold ETFs in Hong Kong attracted a record US$732 million last month, according to the World Gold Council. That represented 41 per cent of Asia’s US$1.8 billion inflows and 11 per cent of the global total of US$6.6 billion. The CSOP Gold ETF, which listed in April on the Hong Kong stock exchange, debuted with assets under management of about US$720 million, making it the city’s largest local physical gold ETF to date. Five gold ETFs with combined assets of HK$28 billion (US$3.6 billion) were listed as of April, exchange data showed. These products give investors a straightforward way to trade gold, much like buying and selling stocks. The CSOP Gold ETF directly holds 4.7 tonnes of physical gold stored in Hong Kong, offering investors the option to redeem bullion.

May 12, 2026

Markets

Brazil’s visa-free entry for Chinese visitors sparks rise in South America travel demand

Search volume for Brazil-related keywords has increased by more than 15 times, providing a boost to China’s long-haul travel products Travel agencies are seeing a notable rise in inquiries and bookings for trips to South America by tourists from mainland China after Brazil’s visa-free entry policy for visitors from the mainland took effect on Monday – and they also remain upbeat about the market’s growth potential. Coupled with the buzz of the 2026 Fifa World Cup in the US, Canada and Mexico, outbound travel from Chinese visitors to the Americas is expected to experience a surge as the summer travel peak approaches, said Suzhou, Jiangsu province-based online travel agency Tongcheng Travel. As of noon on Tuesday, the search volume for Brazil-related keywords had jumped more than 15 times in the six days since the announcement of the visa exemption versus the previous six-day period, Tongcheng Travel found. The three most searched destinations were Sao Paulo, Rio de Janeiro and Brasilia. Brazil announced on May 7 that Chinese visitors are eligible for short-term visa-free entry with a maximum stay of 30 days per entry. Searches for flights to Brazil saw an immediate upsurge on several travel platforms following the news.

May 12, 2026

Markets

Hong Kong, mainland China spur surge in Asia-Pacific commercial property deals

Office and retail recovery gains traction in first quarter, as Hong Kong transactions jump 367 per cent and mainland China tops the market The Asia-Pacific region’s commercial property investments surged in the first quarter, according to data tracked by analysts, as early signs of recovery in office and retail segments across Hong Kong and mainland China boosted deal volumes. Hong Kong contributed US$1.8 billion, a 367 per cent surge, the second-biggest improvement after Singapore’s 439 per cent increase, according to the data and analytics firm. The mainland was the top market, cornering US$13.4 billion, a 55 per cent rise. In the previous quarter, Japan was the top market, accounting for US$10.1 billion out of the US$47.6 billion total. The mainland was the second-largest market with US$8.2 billion. Knight Frank estimated Asia-Pacific investment activity at US$64.6 billion, rising 13 per cent quarter-on-quarter and 65 per cent year-on-year, the strongest quarterly performance since late 2021. “Asia-Pacific’s real estate recovery has gained real breadth in the first quarter and Hong Kong was one of the key markets behind the growth in deal activity,” said Benjamin Chow, head of private assets research for Asia at MSCI.

May 12, 2026

Markets

Emerging markets rebound on inflows as Xi-Trump talks eyed for momentum

Mainland China, Hong Kong stock markets may benefit from Xi-Trump meeting as renewed interest in AI shows investors keen to re-engage, analysts say Global funds came back to emerging markets in April with an inflow of US$58.3 billion, which is expected to continue in coming months amid the recovery from the previous geopolitical panic. According to a report by the Institute of International Finance (IIF), the April non-resident portfolio growth in emerging countries – varying from China to Brazil – rebounded sharply, reversing the outflow of US$66.2 billion in March and US$42.2 billion in April last year. The swing indicated that investors were willing to re-engage quickly once the initial geopolitical panic faded and primary market windows reopened, said Jonathan Fortun, senior economist at the IIF, in a note on Monday. The capital inflow in April was recorded in both stocks and credit. IIF recorded an influx of US$6.4 billion in equity markets and US$51.9 billion from debts, versus an outflow of US$65.5 billion and US$700 million last month respectively.

May 12, 2026

Markets

Chinese successors inherit younger as banks prepare for US$11 trillion wealth transfer

Asia-Pacific’s largest intergenerational wealth transfer in modern times is set to transpire over the next 30 years, financial firm predicts The region’s next-generation family members perceive this shift very differently from their counterparts in Europe and North America. In Asia-Pacific, inheritors are more likely to associate a family milestone with the passing of a family member. By contrast, in Europe and North America, inheritance is more strongly tied to a shift in responsibility. They are the inheriting generation, stepping into responsibility within their families. UBS also observed that successors were getting involved in family wealth at younger ages in Asia, especially in China. These findings come from a UBS survey of next-generation individuals ranging in age from below 21 to above 45, with the majority between 26 and 40. They represent the inheriting generation – those stepping into responsibilities within their families. While the Swiss bank defined the next generation of leaders aged between 18 and 60, 65 per cent were already engaged in managing family wealth as young adults from 20 to 35 years old.

May 12, 2026

Markets

Chinese chip pioneer calls for focus on ‘pragmatic breakthroughs’ over chasing 2nm hype

Richard Chang’s rare public remarks highlight importance of mature chips to China’s supply chain security Richard Chang Rugin, 78, former CEO of Semiconductor Manufacturing International Corp (SMIC), cautioned against blindly chasing industry hype around cutting-edge process nodes. Chang, who was born in mainland China and grew up in Taiwan, returned to the mainland and founded SMIC in 2000 after a 20-year career at Texas Instruments in the US. He resigned as SMIC’s CEO in 2009 amid a years-long trade secrets lawsuit and an out-of-court settlement with rival Taiwan Semiconductor Manufacturing Company. “Many people think competition in the semiconductor industry is just about advanced nodes and that we will only achieve success when reaching 3nm [nanometre] or 2nm – this is a cognitive misunderstanding,” Chang said.

May 11, 2026

Markets

Rewriting the Rules of Risk

Seth Peller, CEO of Marsh Hong Kong & Macau, advocates for proactive, data-driven resilience by integrating climate strategy, AI-ready talent, and interconnected risk management. Hong Kong stands at a pivotal moment in its evolution as a global financial centre. Economic realignment, geopolitical tension, extreme weather events and talent shortages dominate headlines. Yet, according to Seth Peller, CEO of Marsh Hong Kong & Macau, the most consequential threats are unfolding more quietly — and far more systemically. Climate volatility. AI acceleration. Workforce fragility. Geoeconomic uncertainty. “These risks are no longer separate,” he says. “They are interconnected — and every decision to mitigate them has consequences.” With more than 30 years in the insurance and risk advisory industry, Peller has held leadership roles across London, New York, Latin America and Asia, before taking the helm in Hong Kong and Macau. Today, he steers the strategic direction and operational performance of Marsh Risk and Mercer under the Marsh brand. His perspective is shaped not just by markets, but by lived crises. “When you see one of those mega storms and you experience that, it definitely increases your awareness,” he says.

May 11, 2026

Markets

China’s bond market faces climbing re-defaults as property crisis drags on

Re-defaults erode credit differentiation as homebuyer confidence weakens under slow income growth and high leverage, analysts warn China’s bond market is facing rising re-defaults, driven by continued stress in the housing market, where years of government loosening and stimulus have yet to bring relief, according to a report by S&P Global Ratings on Monday. Since 2020, amid the crisis triggered by the default of China Evergrande Group – the world’s most indebted property developer – about 40 per cent of restructured onshore bonds have suffered re-defaults, the report said. The turmoil was later compounded by Country Garden’s default two years later and China Vanke’s two years after that. Despite stimulus, corporate loans have declined for three years, and household loans for six years. Government bond issuance has increased, but much of it has been used for debt swaps rather than new credit expansion. “China’s housing market has seen three major downturns during this crisis. Two have led to a spike in re-defaults. The third one, currently in the making, may lead to the same in 2027,” said Charles Chang, Greater China country lead for corporates at S&P Global Ratings.

May 11, 2026

Markets

Hong Kong’s Tsim Sha Tsui tops Asia luxury retail rents, but Bond Street world’s priciest

City’s luxury retail shows resilience with rising tourist arrivals and new store openings despite global slowdown, according to Savills London’s Bond Street replaced Tsim Sha Tsui as the top global luxury retail property market with rents of £19,228 per square metre per year, according to the ninth edition of the UK-based property consultancy’s Global Luxury Retail report released on Monday. Milan’s Via Monte Napoleone ranked third, with annual rents of £16,000 per square metre. The latest rental charges were based on data as of the fourth quarter of 2025. Based on 2024 data, Bond Street – the top shopping district in the British capital where French luxury fashion house Hermes is set to open a new four-storey flagship store next month – typically charged £15,333 per square metre per annum, placing it third among core luxury shopping destinations worldwide. It ranked behind Tsim Sha Tsui’s £17,132 and New York’s Madison Avenue’s £15,559. “After the strong rebound in 2024, luxury rental growth slowed sharply in 2025, highlighting a more normalised and cautious market environment,” said Marie Hickey, global retail research lead at Savills.

May 11, 2026

Markets

China’s ChiNext Index up 3.5% to highest level since 2015 as semiconductor rally broadens

Tech-heavy index breaches the 3,900-point mark amid strong signals from Beijing that it is committed to chip self-sufficiency China’s tech-heavy ChiNext Index rose about 3.5 per cent to its highest level in nearly 11 years, breaching the 3,900-point mark, as a broadening semiconductor rally, Beijing’s push for technological self-sufficiency and easing US-China trade tensions lifted investor appetite for growth stocks. The gauge climbed to 3,928.97 on Monday, the strongest level since it closed at 3,899.71 on June 12, 2015. This came as Hong Kong chip stocks extended their rally on Monday morning, riding a global semiconductor wave after Wall Street’s Philadelphia Semiconductor Index surged last week, and continued momentum in China’s home-grown AI chip sector kept sentiment buoyant. Suzhou Novosense Microelectronics led the pack with a 15.47 per cent jump to HK$196.3. Montage Technology increased 11.45 per cent to HK$418.6. Fortior Technology (Shenzhen) gained 10.37 per cent to HK$166. Meanwhile, GigaDevice Semiconductor Inc rose 7.96 per cent to HK$529, Semiconductor Manufacturing International Corp added 4.43 per cent and Hua Hong Semiconductor climbed 2.45 per cent.

May 11, 2026

Markets

How Hong Kong could ease its ‘positive problem’ of full metals warehouses

15 LME-approved warehouses are already full, underscoring city’s ambition to be a commodities centre – and its urgent need for more space Just over a year after the London Metal Exchange (LME) approved its first batch of warehouses in Hong Kong, the city now hosts 15 facilities run by seven operators, with close to 25,000 tonnes of metals stored. Chamberlain described it as a “very positive problem” – though one not easily solved. What is the LME, and when did it set up warehouses in the city? Globally, LME-approved third-party operators run about 450 warehouses across the US, Europe and Asia, including Malaysia and South Korea, to store metals for investors and end users to trade or use to secure financing from banks.

May 11, 2026

Markets

Rental yields, redevelopment gains drive home sales in Hong Kong’s To Kwa Wan

Demand for 2 projects fuels busiest sales weekend in 19 months as developers market the district as part of a wider redevelopment corridor The renewed interest helped push Hong Kong’s weekend primary home transactions to around 500 units, the strongest level in 19 months, according to Midland Realty. On Sunday, all 130 units released in the first round of sales for the third phase of One Victoria Cove on 1 Bailey Street were sold, according to lead developer Henderson Land Development. Prices started at HK$6.98 million, or HK$20,383 per square foot. The batch included 101 two-bedroom units and 29 three-bedroom flats ranging from 338 sq ft to 708 sq ft. One Hong Kong investor spent more than HK$110 million to purchase 16 units, the developer said. Investment demand was a major driver behind the strong sales. Midland Realty said investors accounted for about 40 per cent of its buyers at One Victoria Cove, with some purchasing multiple units for leasing purposes.

May 10, 2026