Global Economy and Finance Updates

September 14, 2024

International ‌Finance News

Luo Bingxian’s ‌mainland company has ⁢been fined 440 million yuan for Evergrande’s fake accounts, spanning half a year. The⁤ Ministry of Finance has ⁢coordinated with the Hong Kong Accounting and Finance Bureau to investigate Luo Bingxian.

Reuters has⁢ praised ‌Xu Jiayin, and he has been transferred to the Shenzhen ​Detention Center. Meanwhile,⁣ Hong Hao has predicted that over 400 billion US dollars may flow into the ​Chinese market, benefiting from the ⁤US interest rate‍ cut. This is ⁢expected to lead to RMB appreciation, which may positively impact Hong Kong ​stocks.

The M1 balance of mainland⁤ stocks⁤ fell⁣ by 7% in ⁢August, marking the largest ⁢drop in history. Midea’s upper limit price was ​54.8 yuan, a⁣ 22% discount to A shares.

Adrian Cheng has stated that the new world faces the biggest challenge⁤ in decades. People familiar with the company have⁢ expressed ‌concerns about‌ the⁣ aggressive strategy, ‌worrying about‍ long-term cooperation with 3 UK, ⁢and VOD has triggered price increases.

Business and​ Investment News

Hong Kong investment plans‍ to launch start-ups overseas to​ help Hong Kong brands “go​ overseas”. Cathay Pacific has completed the repurchase of warrants for a total consideration of over 1.5 billion.

MTR​ has been training hundreds of people for Belt and Road countries. JD.com has raised wages for the fourth time this year and will pay 20 monthly rations a year.

Pizza Hut WOW will increase​ to more than 2 million stores by the end of the⁢ year. The company aims to increase European ‍and African ⁢ports to cover Hong Kong and mainland supply of biofuels.

Global‌ Market Updates

Boeing has faced a ⁢strike by 30,000 people, dissatisfied with the⁤ salary increase plan. This has led to the suspension of 737 MAX production, causing the stock price to fall 2% in the early stage.

The gold ⁢price has broken through ⁤the top again, and ⁢the yen has risen⁣ to ​140.29. OpenAI has launched “o1” with reasoning ability to ‌solve mathematical problems.

CCL has fallen‍ more than ‌7% in nine months, and over 1.5% in the past week, hitting an 8-year low.​ Yangming⁢ owners ⁣have ⁤entered ⁤the ‍market, paying 29 million in full‍ three years ago, but have lost 40% of the sales.

Real Estate and Property News

A large shop in Milan Station has moved to a small ⁣shop for 200,000. A 4-bedroom shop outside Percival ⁢Street has been​ pre-leased for 260‍ million, ​creating ⁤a standard unit of the​ project.

A⁤ new high of 60,000 foreigners have come​ to Hong‌ Kong to ​work, with many renting apartments, including a 3-bedroom apartment in Xiaofeng Pavilion. This​ has made it a good time‌ to ⁤look at properties on weekends.