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  • Reuters8 months ago

    MSCI brush-off for China shares spells more pain for Hong Kong brokers

    Hong Kong stock brokers' year has gone from bad to worse after index provider MSCI decided not to add mainland Chinese shares to a benchmark indexed tracked by $1.5 trillion in global assets, dashing the ...

  • Reuterslast year

    Hong Kong's BEA rejects activist investor Elliott's demand for bank sale

    Bank of East Asia Ltd , a family-run Hong Kong lender, rejected a call by activist investor Elliott Management Corp to put the bank up for sale, saying the challenging economic and business environment would bode ill for such a process. Elliott, which owns a stake of about 7 percent in Bank of East Asia (BEA), earlier this month heaped pressure on the bank to sell itself, saying its executives had serially mismanaged the business, leading to weak performance and poor returns for minority shareholders. BEA, which has a $7.6 billion market value and is one of the last remaining family-run banks in Hong Kong, said on Monday it would carry out a strategic review of its share register business Tricor Holdings Ltd, of which it owns about 76 percent.

  • Bloomberglast year

    CaixaBank Sells Inbursa, Bank of East Asia Stakes to Parent

    CaixaBank SA is selling its stakes in billionaire Carlos Slim’s Grupo Financiero Inbursa SAB and Bank of East Asia Ltd. to its parent company Criteria Caixa SA, helping the lender to cut its capital consumption....