North Asia

Despite the promising pass of an Ordinance, use cases of stablecoins in Hong Kong remain vague. Adopting retail stablecoins depends on multiple factors, including the regulator’s stance and technical concerns, such as monitoring unhosted wallets.

Private equity firm TPG is selling the luxury cosmetics packaging firm after purchasing it in July 2023 for around $230m.

In October, Lim, HSBC's HK CEO will replace Hang Seng's Diana Cesar, who is returning to HSBC; Ng, HSBC HK's head of wealth and personal banking, is set to replace Lim as HK CEO, in addition to her other roles.

CICC was the lead global coordinator on the Rmb2bn dim sum bond issuance with a yield of 3.35%; the bonds, which are becoming increasingly popular, were listed on the HKEX and will be used for Belt & Road initiatives.

Kulkarni is set to join Citi in December in Singapore to become co-head, Citi investment banking for Japan, Asia North, Australia, and Asia South, serving alongside Jan Metzger.

Hong Kong’s Stablecoin Law is cementing the financial hub’s digital ambitions, however pending US crypto laws are keeping regulatory competition tight as both chase the growing opportunity.

Banks are looking to overhaul risk frameworks as US tariff actions collide with Asia’s export dependence. Experts shared their views on how regulators are embedding geopolitical shocks into stress scenarios, while banks turn to tech and client engagement to prepare for strains likely to surface in 2026.

The buyers of the multifamily assets were sovereign wealth funds and follows the closure of a hotel real estate fund in July.

Singapore-based Phua has become head of markets solutions under cluster sales, Asia North and Asia South, for clients of Citi Commercial Bank.