Wealthtech

Prudential Closes Pulse Wealth in Hong Kong, Refocusing on High-Net-Worth Sector

Prudential has officially closed its Hong Kong wealth management business, Pulse Wealth, according to a statement released to Reuters. This move is part of a broader initiative by the company to streamline its operations and focus more effectively on other

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Hang Seng Bank Introduces PayDay+ for Payroll Account Customers

Hang Seng Bank has introduced PayDay+, a new service for customers who transfer their payroll accounts to the bank. This service offers a Hong Kong Dollar savings rate of up to 6 percent per annum. This initiative responds to customer

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Endowus Launches Full-Service Wealth Management Platform in Hong Kong

Endowus, an independent digital wealth advisor in Asia, has officially launched its comprehensive wealth management platform in Hong Kong. The launch follows significant technological enhancements aimed at better serving local investors. The platform includes a bilingual, full-featured version of the

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HSBC Gold Token to Democratise Gold Investment for Retail Customers in Hong Kong

HSBC has unveiled the HSBC Gold Token for its retail customers in Hong Kong. This development introduces tokenised gold to the retail market, accessible through the bank’s online and mobile platforms. The HSBC Gold Token, which represents physical gold ownership

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MUFG Bank Acquires 15.55% Stake in Robo-Advisor WealthNavi for US$104M

MUFG Bank, a subsidiary of Mitsubishi UFJ Financial Group, has acquired a 15.55% stake in robo-advisor WealthNavi for approximately 15.65 billion yen (104.15 million), marking a strategic move to bolster its digital financial services. This capital and business alliance aims

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Mox Bank Offers U.S. and HK Stock Trading Through Beta Testing

Hong Kong’s virtual bank Mox has initiated a beta phase for its new investment service, Mox Invest. This initial phase sees the service being gradually introduced to existing customers through an invitation-only approach. Mox Invest offers the virtual bank’s users

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Hong Kong Debuts First Saudi ETF in Asia Amid Growing China-Saudi Ties

The first-ever exchange-traded fund (ETF) in Asia, focusing on Saudi equities, commenced trading in Hong Kong on Wednesday. This event marks a milestone in the strengthening ties between China and Saudi Arabia. The ETF, named CSOP Saudi Arabia ETF and

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ZA Bank Gains Regulatory Nod to Offer U.S. Stock Trading in Hong Kong

Hong Kong’s ZA Bank has received regulatory clearance from the Securities and Futures Commission (SFC) to expand its services. This approval amends the bank’s existing license, allowing it to move beyond dealing in collective investment schemes. ZA Bank is set

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Dubai and Shanghai Exchanges to Share Expertise in Financial Collaboration

The Dubai Financial Market (DFM), Nasdaq Dubai, and the Shanghai Stock Exchange (SSE) have recently signed a Memorandum of Understanding (MoU) to enhance cooperation between the financial markets of Dubai and China. Announced on 20 November 2023, this agreement represents

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HKEX to Launch New Digitalised IPO Settlement Platform FINI on 22 Nov

The Hong Kong Exchanges and Clearing Limited (HKEX) announced that its new digitalised IPO settlement platform FINI will be launched on 22 November 2023. HKEX appears to have delayed the rollout of FINI from October. Earlier reports did mention that

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