Asian family offices are broadening their allocations to private equity, infrastructure and alternative investments. Some analysts say second- and third-generation leaders are departing from the original fundamentals of wealth creation, but the wealth management sector believes the view is not entirely accurate, as they still assess opportunities according to circumstances and adjust portfolios to balance risk.
Paul Chan delivered a speech at the Legislative Council on 7 October during the consolidated debate on the motion concerning Hong Kong's First Five-Year Plan and the motion of thanks for the 2026 Policy Address, first briefing on Hong Kong's latest economic situation: growth of 5.1% in the first half, a 52% rise in export values from July to August, unemployment of 3.8% from June to August, and a full-year real growth forecast of 3.5% to 4.5%. The speech also set out the direction of progress in finance, shipping and aviation, trade, innovation and technology, and talent聚集聚.
Why read this: The speech lists verifiable figures including first-half economic growth, export values, unemployment and stock market turnover, helping readers grasp the economic footing of the Five-Year Plan.
Translation is not available yet. Showing the Traditional Chinese version.
The 2026 Asia Advisor Survey published by fintech company iCapital shows that Asian advisers' interest in property rose from 39% to 52%, while private credit among alternative investments plunged from 71% to 48%. Private credit was the item Asian advisers were most interested in in 2025.
Acting Secretary for Financial Services and the Treasury Joseph Chan Ho-lim replied in writing to a question from Chan Chun-ying, stating that from January 2024 to September 2026, the Hong Kong Monetary Authority received 16 complaints alleging unlicensed operation of stored value payment facilities, of which 1 was substantiated and the complainant reported no loss. Platforms involved in currency exchange or cross-border remittances must obtain a licence from the Customs and Excise Department, while those offering "buy now, pay later" services involving lending business must obtain a money lender's licence under the Money Lenders Ordinance.
The Hang Seng Index stood at 24,143 in the early part of the afternoon session, down 137 points, or 0.56%. The Tech Index stood at 4,183, down 39 points, or 0.95%.
Secretary for Financial Services and the Treasury Christopher Hui attended the London Bullion Market Association's Global Precious Metals Conference 2026 in Sorrento, Italy, outlining the development of Hong Kong's gold trading ecosystem. The trial operation of Hong Kong's central gold clearing and settlement system has received an ideal response, with 11 banks serving as temporary direct participants in the settlement system, which will commence formal operation in the first quarter of next year; the London Bullion Market Association will also co-host an Asian forum in Hong Kong with the Hong Kong Government and the Hong Kong Gold Clearing Company Limited in April next year.
Chan Chun-ying suggested in a LegCo joint debate that efforts be made to secure gold reserves from the People's Bank of India, India and ASEAN central banks to be stored in Hong Kong, in order to enhance physical scale and credibility. Kan Wai-man, meanwhile, advocated that, with suppliers' consent, government expenditure on cross-boundary infrastructure procurement in the Northern Metropolis be paid in renminbi. Cheung Pui-kong expressed hope that the Kai Tak Line could connect to Kai Tak Hospital, facilitating residents' cross-district medical visits.
Hong Kong Economic Times today selected Marketingforce (02556) in its ET stock pick, noting that at this stage, attention should be paid to Hong Kong-listed software companies that can convert AI into customer payments, profits and cash flow; along this framework, the stock is worth watching. Marketingforce is mainly engaged in SaaS (software as a service) business.
Johanna Kyrklund, Chief Investment Officer of Schroders Investment Group, warned that AI-related stocks face the risk of an "earnings bubble", and suggested adopting an active value investment strategy to diversify the risks associated with the AI investment theme. She pointed out that the huge capital expenditure deployed by tech giants in artificial intelligence has driven earnings growth, lifting the performance of AI-related stocks.
Lau Sze-ming said the uptrend in pharmaceuticals and biotechnology is resilient, and Innovent Biologics can be a bet on catching up. Record highs on the US Nasdaq drove Asia-Pacific markets, with Japan's Nikkei rising again by over 1 per cent, just 3 per cent away from its historic high, while Taiwan's weighted index edged up to close at a record after approaching the 50,000 mark. Mainland A-shares were under pressure before the long holiday, and their performance when trading resumes tomorrow will determine the direction of Hong Kong stocks, with a wait-and-see mood prevailing in the local market today.
CK Asset Holdings (0001), helmed by Victor Li, is entering a new phase of "re-M&A and becoming an oil king" that has drawn market attention. While companies worldwide are generally selling assets and cashing out to protect themselves, CK Asset's energy map is becoming clearer, expanding and deepening its core assets. Its years-long oil sands strategy continues to make moves, gradually strengthening its strategic position in the oil sands supply chain.
The Hang Seng Index rose 240 points yesterday to close at 24,280 points, with turnover of $98.2 billion. Houthi forces attacked Saudi oil pipelines again, pushing oil prices higher, while the US 10-year Treasury yield briefly hit a record high, though US stocks were unaffected and continued to advance. Brazilian shares surged on election news, emerging markets as a whole moved higher, and Hong Kong stocks also benefited.
Standard Chartered Bank (Hong Kong) announced that its new wealth management centre at One Island East in Causeway Bay has officially opened, marking the bank's 7th wealth management centre in Hong Kong. Spanning 21,000 square feet, it is Standard Chartered Hong Kong's largest wealth management centre to date.
Kuaishou (1024)'s AI video platform Kling has selected CICC, Goldman Sachs and UBS to prepare for a Hong Kong IPO, raising at least US$1 billion (about HK$7.8 billion), with plans to list as early as next year. Bloomberg reported, citing people familiar with the matter, that Kling AI and the relevant investment banks declined to comment.
The Securities and Futures Commission published the Securities Industry Financial Review report, showing that the Hong Kong securities industry's net profit in the first half rose 21% from the second half of last year to $51.7 billion, an annual increase of 78.88%, benefiting from active market turnover that drove up trading commissions. Over the same period, total expenditure and interest expenses fell 2%, up 17.11% year-on-year to $104.244 billion.
The Hong Kong Monetary Authority has in recent months raised questions over HSBC locating its global artificial intelligence (AI) centre in Singapore rather than Hong Kong, the Financial Times reported, citing people familiar with the matter. The Hong Kong Monetary Authority said it maintains regular communication with authorised institutions on various issues, and would not comment on day-to-day regulatory work or speculative remarks. A HSBC spokesperson declined to comment on the report.
DBS Hong Kong Chief Investment Office (North Asia) investment strategist Lam Tsz-huen maintains a broadly neutral view on equities and bonds, preferring to maintain a balanced risk allocation, continue to overweight alternative investments and keep cash underweight. He noted that corporate earnings have shown resilience and the market rally has broadened, while equity fund flows remain strong; bond yields remain attractive, but duration should not be pursued aggressively.
Hong Kong Monetary Authority Chief Executive Eddie Yue said short-term HKD interest rates are driven by the supply and demand for the Hong Kong dollar, and a reduction in demand for the currency may trigger the weak-side convertibility undertaking. He noted that Hong Kong stock turnover has fallen back from its mid-year high, the impact of earlier large-scale fundraising activities has faded, and periods of relatively strong funding demand such as quarter-end and dividend payments by listed companies have just passed, easing related demand for the Hong Kong dollar, which is the reason behind the weakening of the HKD exchange rate.
The Hong Kong Monetary Authority and Bank Negara Malaysia held a high-level bilateral meeting in Hong Kong on 2 October, agreeing to strengthen cooperation in areas including fintech and digital assets, cross-border regulation, use of local currencies in the region and capital market connectivity. The two sides will set up a joint working group to promote compliant cross-border stablecoin applications, and explore establishing a link between Hong Kong's CMU and Malaysia's RENTAS.
The Hong Kong Monetary Authority and Bank Negara Malaysia held a high-level bilateral meeting in Hong Kong on 2 October, agreeing to strengthen cooperation in areas including fintech and digital assets, cross-border regulation, use of local currencies and infrastructure interconnection within the region, and capital market connectivity. The two sides will establish a policy-focused joint working group to promote compliant cross-border stablecoin application scenarios in both places, and explore establishing a link between the Hong Kong Monetary Authority's Central Maturity Facility (CMU) and Malaysia's RENTAS.
Hong Kong shares closed up 1%, with the Hang Seng Index at 24,280 points, up 240 points, and turnover on the main board nearing $98.3 billion. Healthcare stocks posted larger gains, with WuXi AppTec, Sino Biopharmaceutical and WuXi Biologics rising nearly 3% to nearly 5% respectively; the tech index rose nearly 1%, while domestic demand stocks faced selling pressure, with Anta Sports down nearly 3%.
Hermitage Capital maintains its global strategy amid geopolitical and market volatility, investing in frontier technology companies worldwide. The private equity firm has US$1.5 billion in funds, 80% of which is in US dollars and the rest in renminbi, and is stepping up investments in artificial intelligence, semiconductors and robotics, concentrated mainly in the United States and China.
Hong Kong shares edged up in the early part of the afternoon session, with the Hang Seng Index at 24,221, up 181 points, or 0.76 per cent. The Tech Index stood at 4,219, up 35 points, or 0.85 per cent.