HSBC’s RedCoin stablecoin draws 50,000 users in first week as bank deepens local tech push

South China Morning Post - Nov 2, 2026

HSBC said its RedCoin retail stablecoin has attracted 50,000 users since its official launch just over a week ago, as the city’s largest lender remains committed to exploring new technologies in the city. The figures were revealed by HSBC group CEO Georges Elhedery during a panel discussion on the first day of Hong Kong FinTech Week, which kicked off on Monday. Elhedery also attributed the quick ramp-up to the “comfortable” regulatory environment that the Hong Kong Monetary Authority (HKMA) had...

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Telcos pass NTC’s Undas network checks

Nov 2, 2026

Telcos pass NTC’s Undas network checks

MANILA, Philippines — Mobile network services at major bus terminals across Metro Manila were generally reliable during this year’s Undas travel rush, according to the National Telecommunications Commission (NTC). This follows the NTC’s directive to telco firms to ensure reliable service during the Undas travel period, particularly in areas with anticipated high public activity and mobile

P85M leisure investments eyed for Clark, Camp John Hay

Nov 2, 2026

P85M leisure investments eyed for Clark, Camp John Hay

MANILA, Philippines — The Bases Conversion and Development Authority (BCDA) will receive at least P85 million in investments for new leisure, recreation, and tourism developments in northern Luzon across its two estates. Specifically, BCDA’s Clark estate in Pampanga will soon house a resort that Grace Farm Nature Resort Corp. will develop under a 15-year lease agreement.

Gasoline prices set for P3.50-per-liter hike

Nov 2, 2026

Gasoline prices set for P3.50-per-liter hike

MANILA, Philippines — Filipino motorists will need to pay more for gasoline products this week, as oil firms plan to raise prices by about P3 per liter beginning Tuesday. The Department of Energy (DOE) said Monday that gasoline prices will go up by as much as P3.50 per liter. READ: Gasoline prices set to rise next

Sunlight Air delays int’l foray

Nov 2, 2026

Sunlight Air delays int’l foray

MANILA, Philippines — Boutique carrier Sunlight Air is pausing plans to launch international flights and acquire larger aircraft as it focuses on weathering the Middle East crisis, which has weighed heavily even on larger airlines. Currently, the airline, which launched a year before the pandemic, flies to five domestic destinations through its hubs in Clark and

HKEX extends overnight derivatives trading as Hong Kong chases global market flow

Nov 2, 2026

HKEX extends overnight derivatives trading as Hong Kong chases global market flow

Bourse operator Hong Kong Exchanges and Clearing (HKEX) is taking a further step towards round-the-clock trading by pushing back the closing bell for its after-hours derivatives market by 75 minutes from next year, according to a statement released on Monday. The derivatives After-Hours Trading (AHT) session would extend to 4.15am from 3am, Hong Kong time, starting in March 2027, subject to regulatory approval and system readiness, according to HKEX. It added it was also considering a further...

Lower principal payments ease Sept. debt burden

Nov 2, 2026

Lower principal payments ease Sept. debt burden

MANILA, Philippines — A sharp decline in principal repayments eased the government’s debt service burden in September, more than offsetting higher interest expenses, the Bureau of the Treasury said. The government spent P207.5 billion to service its debt during the month, down 36.7 percent from a year earlier, the latest Treasury data showed. READ: Gov’t debt

How Hong Kong’s fintech strategy is progressing – and where growth still lags

Nov 2, 2026

How Hong Kong’s fintech strategy is progressing – and where growth still lags

Hong Kong has touted rapid progress in the first year of its five-year fintech strategy, pledging to double down on artificial intelligence and tokenisation even as many initiatives face the challenge of achieving commercial scale. Tokenisation, for instance, had moved from the sandbox “into the real world”, said Eddie Yue Wai-man, chief executive of the Hong Kong Monetary Authority (HKMA), at the city’s annual FinTech Week conference on Monday. Hong Kong had authorised 17 tokenised public funds...

Banking on innovation for a more connected future

Nov 2, 2026

Banking on innovation for a more connected future

[The content of this article has been produced by our advertising partner.] Hang Seng Bank will bring AI-powered wealth management, digital banking, investment innovation and an interactive table tennis experience to Hong Kong FinTech Week 2026 as it makes its debut with a dedicated exhibition booth at the Hong Kong Convention and Exhibition Centre on November 2 and 3. Six interactive experiences will showcase innovation across Retail Banking and Wealth Management, Commercial Banking, Markets...

Beijing launches barrage of measures to stabilise stock market after sell-off

Nov 2, 2026

Beijing launches barrage of measures to stabilise stock market after sell-off

Chinese authorities have launched a renewed effort to stabilise the country’s struggling stock market, with a string of measures announced on Monday to boost liquidity, cut rates for share buy-back loans and ease curbs on leveraged trading. The concerted action by the People’s Bank of China (PBOC), China Securities Regulatory Commission (CSRC) and other financial regulators came after a joint meeting held in Beijing that day, as officials signalled a determination to defend the equity market...

China’s battered stocks get little relief from latest support efforts

Nov 2, 2026

China’s battered stocks get little relief from latest support efforts

Chinese stocks rose following a report that financial regulators were set to discuss support measures with industry participants following a record 12-week sell-off. The CSI 300 Index closed up 0.8 per cent, while Shanghai’s tech-heavy Star 50 rose 3.1 per cent, the most since mid-September. Securities companies were among notable gainers marketwide, with Sinolink Securities and Pacific Securities both climbing by the 10 per cent daily limit. Hong Kong stocks gained 0.4 per cent. The People’s...

As BYD and Geely hit sales highs, pressure mounts on China’s smaller carmakers

Nov 2, 2026

As BYD and Geely hit sales highs, pressure mounts on China’s smaller carmakers

China’s two largest carmakers, BYD and Geely Auto, recorded their strongest monthly sales of the year in October, bucking a downward trend in the world’s largest automotive market as smaller rivals come under increasing pressure to turn a profit. Shenzhen-based electric vehicle (EV) giant BYD handed over 490,168 cars to customers at home and abroad last month, up 11 per cent year on year, while Hangzhou-headquartered Geely delivered 310,183 petrol and electric cars worldwide in the same period,...

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