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Eddie Yue from the HKMA: The development pace of virtual banks is healthy, and policy objectives have been achieved.
The virtual banks have officially been renamed as digital banks. Ruan Guoheng, Deputy Director of the Hong Kong Monetary Authority, stated that as of June this year, the total number of customers, deposits, loans, and operating income of digital banks have been steadily increasing. Although none of the 8 digital banks have achieved a balanced budget for the year, the overall pace of development is healthy, indicating that the authorities' policy goals have been achieved. When asked about rumors in the market that individual digital banks may change hands or be on the ask list, he emphasized that at the time of application, the shareholders of each digital bank had promised to adhere to the principle of long-term operation, believing that it would not be easy for them to exit or engage in license transactions. Currently, there is no intention to issue new licenses, but the authorities will allow individual digital banks to introduce new shareholders. He also mentioned that
Roland Berger: The growth of the entertainment and media industry in Hong Kong is expected to slow to 2.3% this year, with the OTT market becoming popular while print media fades.
PwC's "Global Entertainment and Media Outlook 2024-2028" predicts that the revenue of the entertainment and media industry in Hong Kong increased by 4.5% last year, with the market size expected to slow to 2.3% in 2024, reaching $12.87 billion. The compound annual growth rate from 2024 to 2028 is projected at 2.06%, with revenue expected to reach $14 billion in 2028. In the OTT market, Hong Kong has experienced rapid growth in the past two years, reaching $0.371 billion in 2023. It is expected that this market will continue to expand at a compound annual growth rate of 5.7% and reach $0.491 billion by 2028.
Silver Commission survey: The usage rate and public trust of digital banks have both increased. Starting from October, the deposit guarantee amount will increase to 0.8 million yuan.
The latest survey by the Hong Kong Banks Association's Digital Banks Public Education Task Force shows that both individuals and small and medium-sized enterprise respondents have significantly increased their trust in digital banks. Over 97% and over 99% of individuals and small and medium-sized enterprises, respectively, are satisfied with the security measures. In addition, users' understanding of digital banks has also significantly improved. The Task Force mentioned that over 80% of individuals and 92% of small and medium-sized enterprises believe they have a certain understanding of digital banks, no longer limited to basic services such as depositing. They also believe that collaboration among digital banks in the industry will enhance public confidence in the financial technology and service level of Hong Kong's digital banks.
Dah Sing: Non-essential consumer sector rating downgraded to 'shareholding' by Daiwa. Medical industry rating upgraded to 'in sync with the market'. Cosco Ship Engy (01138.HK) included in the focus list of China and Hong Kong.
Morgan Stanley released a China stock market strategy report, downgrading the rating of non-essential consumer goods industry from 'in line with the market' to 'shareholding', and upgrading the rating of medical care industry from 'shareholding' to 'in line with the market'. The bank pointed out that by lowering the rating of non-essential consumer goods industry to 'shareholding', the active risk is negative 50 basis points. It will maintain this rating for at least the short term, as details regarding consumer stimulus are lacking, and uncertainties exist in the scale, timing, and execution of mainland fiscal expansion policies. As a result, ANTA Sports (02020.HK) is removed from the list of key stocks in mainland and Hong Kong. The bank also raised the rating of medical care industry to 'in line with the market'.
Authorized operators can install mobile communication facilities free of charge in designated buildings starting from April 1st next year.
The government announced that the amended Telecommunications Ordinance (Chapter 106), Section 14, will come into effect tomorrow (October 1). Mobile network operators authorized by the Communications Authority may enter the designated buildings approved for construction drawings on or after April 1 next year to install and maintain mobile communication facilities without having to pay fees to the landowner. The Telecommunications Ordinance stipulates that designated buildings include newly constructed and reconstructed commercial, industrial, residential, and hotel buildings, with the provision of space for mobile network operators to install mobile communication facilities also applicable to newly constructed government buildings and public housing following the relevant arrangements.
Hong Kong Telecom - SS (06823) issued 0.0338 million shares on September 27, equivalent to 1 order unit.
Hong Kong Telecom - SS (06823) announced that it will issue 0.0338 million shares on September 27, 2024.
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