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MoneyHero has launched a car insurance purchasing service in Hong Kong, partnering with insurtech firm Bolttech. This platform allows users to compare quotes, customize coverage, and obtain instant policies without being redirected, reflecting a broader trend towards digital transformation in the insurance sector. With a significant shift in consumer preferences for online purchasing, MoneyHero aims to enhance user experience and drive higher conversion rates in a competitive market.
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Digital wallets are set to dominate Hong Kong's payment landscape by 2030, projected to account for 45% of online and 48% of in-store transactions, while credit card usage declines to 32%. AlipayHK leads the market with 42% share, amidst a diverse ecosystem of 17 e-wallet providers. The region's strategic cross-border payment initiatives further position it as a key financial hub in Asia-Pacific.
Global hedge funds faced significant losses following President Trump's announcement of sweeping tariffs, leading to a 3% year-to-date decline in performance. The S&P 500 and FTSE dropped over 10% and 6%, respectively, while commodities, including oil, hit four-year lows. As a result, hedge funds reduced their net leverage to near historical lows, anticipating continued volatility in risk assets amid tariff uncertainties.
Electric vehicle stocks in Hong Kong plummeted as US President Trump's new tariffs escalated the global trade war, with BYD down 11.15%, Nio 11.30%, Xpeng 11.40%, and Li Auto 10.82%. The Hang Seng Index fell 9%, reflecting broader market turmoil following China's retaliatory measures, including a 34% tariff on US imports. Analysts suggest that while new tariffs challenge China's economy, the stock market may have more favorable conditions compared to previous years.
Hong Kong's IPO market is experiencing a resurgence, fueled by excitement over AI, with 15 IPOs raising HK$17.7 billion (US$2.27 billion) in Q1 2025, the strongest start since 2021. Major firms like CATL and Hengrui Pharmaceuticals have joined the trend, supported by regulatory changes and backing from Beijing. However, analysts warn that regulatory shifts and geopolitical uncertainties may pose risks to future growth.
HSBC Holdings repurchased 3.5323 million shares for a total of HKD314 million on April 2, 2025. This included 1.9463 million shares bought in the UK at an average price of GBP8.7684 and 1.586 million shares on the Hong Kong Stock Exchange at an average price of HKD88.5945.
Goldman Sachs has downgraded BBMG Corp. from Buy to Neutral, lowering the price target to HK$0.80 from HK$1.00 due to a revised earnings outlook, particularly in the property sector. Expected earnings per share for 2025 have been cut to Rmb0.012, with a projected 6% decrease in gross profit for the property division. However, the firm anticipates improved margins in BBMG's cement operations, driven by increased demand and stricter production controls.
Analysts express optimism in the Financial sector, with Iris Gao maintaining a Buy rating on PICC Property & Casualty Co, setting a price target of HK$15.20, while Morgan Stanley's Glenn Schorr also holds a Buy rating with a target of $138.00. The consensus for PICC is a Strong Buy with a target of $1.85, and Morgan Stanley has a Moderate Buy consensus with a target of $140.36.
HSBC Holdings has repurchased approximately 3.55 million shares for a total of HKD314 million as of April 1. This includes 1.9471 million shares bought in the UK at a weighted average price of GBP8.8091 and 1.6 million shares on the Hong Kong Stock Exchange at an average price of HKD88.5816.
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