Swire (1972) looks to banks for Island East growth

Who is ready to work in Taikoo Shing? 

China injects 92 bln yuan into banking system

The People’s Bank of China (PBOC), the country’s central bank, pumped 92 billion yuan (15.0 billion U.S. dollars) into the banking system through its regular open market operations this week, according to an official report released Thursday. Read More, Xinhua

Stevie vs Ray (part 1) Fitch rings the alarm bells on China credit

Fitch vs S&P in an a battle of the analysts, it’s like Stevie Wonder vs Ray Charles playing a game of Charades! 

Chinese banks are adding assets at the rate of an entire U.S. banking system in five years. To Charlene Chu of Fitch Ratings, that signals a crisis is brewing. Read More, Bloomberg

NDRC: Gradually liberalize deposit and lending rates

In the NDRC’s latest paper, they espouse that deposit and lending rates should gradually be liberalized. They say this every year but not much seems to happen.

QQ

Muddy Waters Bets Against Chinese Banks Citing High Level of Toxic Assets

Hey Carson Block, short sell this… (actually.. we should probably listen…) 

Muddy Waters, the renowned short-seller, is betting against China again as its relatively low-profiled founder expressed his concerns over the country’s banks which he said hold more toxic assets now than their western peers did prior to the 2008 financial crisis. Read More, Caijing

 

HONG KONG: WEEK IN REVIEW, 18May2013

Timmy tong faces the spotlights; Housing prices to dump 20%; Alcohol, women and rape; CY Leung’s popularity in the toilet; The duck is under maintenance. Here’s what happened this week.

Money Down! Banks’ interest income may fall by 150 bln won on May rate cut

Four major South Korean banks may see their net interest income fall by around 150 billion won (US$134.2 million) this year due to the central bank’s May rate cut, a report showed Friday. Read More, Yonhap News

HONG KONG: BEFORE THE OPEN, 16May2013

Tencent brought the goods last night with Q1 earnings, HSBC axing more bankers, Cathay traffic figures continue downward, and Timmy Tong might have some more mates in his jail cell. Here’s what you need to know before the open.

HSBC 14,000 layoffs, watch your back

 

HK Headline

Financial problems… ? More Credit..!

Foreign banks operating in South Korea will offer credit loans to those with bad credit at lower interest rates than those charged by private money lenders and mutual savings banks in step with the government’s drive to help the underprivileged ease financial burdens, the financial regulator said Tuesday. Read More, Yonhap News