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☆ Asia stocks hit 2-week high as Fed talk turns dovish
▼ + stars: | 2023-10-11 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. The S&P 500 (.SPX) gained overnight and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1.3% to a two-week high in morning trade. "I actually don't think we need to increase rates anymore," Atlanta Fed President Raphael Bostic told the American Bankers Association, to applause, in Nashville on Tuesday. On Wednesday the Australian and New Zealand dollars hit their highest levels on the dollar since the end of September, while sterling hit a three-week peak. European gas prices, which had jumped on news of the Middle East violence, surged further on Tuesday on concern a gas pipe in Finland was sabotaged.

Persons: Tyrone Siu, Raphael Bostic, Peter Dragicevich, Brent, Vivek Dhar, Sam Rines, Sam Holmes Organizations: REUTERS, Federal Reserve, paring, Japan's Nikkei, Atlanta Fed, American Bankers Association, Treasury, New Zealand, U.S, CPI, Fed, Bloomberg, HK, Benchmark, Samsung, Pepsi, Thomson Locations: Exchange, Hong Kong, China, SINGAPORE, paring U.S, Asia, Pacific, Japan, Nashville, Tuesday's, Israel, Finland, Estonia, Europe, Texas

☆ China to host Belt and Road forum in Beijing Oct 17-18
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

A woman walks in front of a sign at the "Belt and Road" summit in Hong Kong, China September 14, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsBeijing, Oct 11 (Reuters) - China will host its third Belt and Road Forum next week, its foreign ministry said on Wednesday, a President Xi Jinping signature event that President Vladimir Putin is due to attend on a rare trip abroad. The conference in Beijing on Oct. 17-18 marks the 10th anniversary of the Belt and Road Initiative (BRI) championed by Xi, with representatives from many developing countries, notably from Latin America and Africa, expected to attend. But critics see the plan - billed as recreating the ancient Silk Road to boost global trade - as a tool for China to spread its geopolitical and economic influence. China had signed Belt and Road cooperation documents with more than 150 countries and more than 30 international organizations, the foreign ministry said.

Persons: Tyrone Siu, Xi, Vladimir Putin, Putin, Liz Lee, Bernard Orr, Ethan Wang, Lidia Kelly, Muralikumar Anantharaman Organizations: REUTERS, Rights, Initiative, Kremlin, Court, ICC, Thomson Locations: Hong Kong, China, Rights Beijing, Beijing, America, Africa, Hague, Ukraine, Kyrgyzstan, Asia, Europe, Russian, Italy, Melbourne

[1/5] China's and Hong Kong's flags are seen on the pedestrian footbridge as decorations for the celebration of National Day, at the financial central district in Hong Kong, China October 3, 2023. "The last few years have created a very negative image of Hong Kong," said Inaki Amate, chairman of the European chamber in Hong Kong, one of the speakers at the M+ event. Executives point to the changing fabric of Hong Kong with mainlanders making up more than nine-out-of-ten of all those approved to work under government talent schemes. "If we believe that Hong Kong will be able to recover its most international Asia city status by continuing on this trend, we are very wrong," said Amate. “You’ve got what happened with the national security law, the pandemic and now you’ve got a pretty big problem with China’s economy.

Persons: Tyrone Siu, Inaki Amate, Paul Chan, haven’t, ”, Tara Joseph, “ You’ve, you’ve, Hong, Robert Walters, Patrick Ip, David Baverez, Baverez, Dorothy Kam, Scott Murdoch, Simon Cameron, Moore Organizations: REUTERS, Tyrone, European Union, Hong, Monetary, American Chamber of Commerce, Colliers, Companies, National Bank Australia, ASEAN Investment Cooperation, COVID ., COVID . Asia Pacific, Thomson Locations: Hong Kong, China, HONG KONG, Hong, British, Asia, Singapore, Dubai, COVID, COVID . Asia, Europe, “

☆ Remnants of Typhoon Koinu bring floods to Hong Kong
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

A woman struggles with an umbrella while walking against strong wind, as Typhoon Koinu approaches, in Hong Kong, China October 8, 2023. REUTERS/Tyrone Siu Acquire Licensing RightsHONG KONG, Oct 9 (Reuters) - Hong Kong saw heavy flooding on Monday as the remnants of Typhoon Koinu brought heavy rains and strong gales, with many areas inundated with water just a month after the city was paralysed by record-breaking rainfall. Koinu had weakened into a severe tropical storm but still brought gale-force winds and heavy rain, the city's Observatory said. It is due to reopen in the afternoon as strong winds are expected to ease later in the day. Reporting by Farah Master in Hong Kong and Liz Lee in Beijing; Editing by Stephen Coates and Lincoln Feast.

Persons: Koinu, Tyrone Siu, Typhoon Koinu, Farah Master, Liz Lee, Stephen Coates Organizations: REUTERS, Tyrone, city's, . Schools, RTHK, Express, Services, MTR, China Meteorological Administration, Thomson Locations: Hong Kong, China, HONG KONG, China's, Guangdong, Hong, Taishan, Zhuhai, Hainan, Fujian, Beijing, Lincoln

☆ Credit Suisse, Mozambique reach out-of-court 'tuna bond' settlement
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +1 min

The logo of Credit Suisse is seen outside its office building in Hong Kong, China, August 8, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsZURICH, Oct 1 (Reuters) - Credit Suisse has reached an 11th-hour out-of-court settlement with Mozambique over the $1.5 billion-plus "tuna bond" scandal, the Swiss bank's new owner UBS (UBSG.S) said on Sunday, drawing a line under a damaging dispute it inherited. "The parties have mutually released each other from any liabilities and claims relating to the transactions," UBS said. The tuna bond case dates back to three deals between state-owned Mozambican companies and shipbuilder Privinvest - funded in part by loans and bonds from Credit Suisse and backed by undisclosed Mozambican government guarantees. UBS, which rescued scandal-scarred Credit Suisse amid turmoil in the global banking sector earlier this year, has a financial buffer of as much as $10 billion for litigation, JPMorgan analysts estimated in a note to clients on Wednesday.

Persons: Tyrone Siu, corruptly, Noele Illien, Kirsten Donovan Organizations: Credit Suisse, REUTERS, Rights, UBS, Privinvest, JPMorgan, Thomson Locations: Hong Kong, China, Mozambique, Swiss, London, Mozambican

☆ Evergrande sold yacht this year, say sources, as creditors sharpen focus on offshore assets
▼ + stars: | 2023-09-29 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +4 min

The yacht "Event", which is believed to be owned by China Evergrande, is docked in Hong Kong, China October 11, 2021. Evergrande's offshore bondholders are expected to sharpen their focus on offshore assets as the developer's debt restructuring plan flounders with the founder now being investigated over suspected "illegal crimes". Compared to its $31.7 billion in total offshore liabilities, Evergrande has far fewer assets outside China. Of the remaining offshore assets of the company and its founder, creditors would need to establish whether they have already been used as collateral to raise funds. Foreign bondholders' "ability to get to these (offshore) assets is a function of the legal claim - has he (Chairman Hui) pledged it?"

Persons: China Evergrande, Tyrone Siu, Evergrande, Hui Ka Yan, Hui, Scott Murdoch, Julie Zhu, Marc Jones, Sumeet Chatterjee Organizations: REUTERS, Rights, China Evergrande, HK, Reuters, Boeing, Gulfstream, Wall Street Journal, Thomson Locations: China, Hong Kong, Sydney, London, Lincoln

☆ Credit Suisse sheds nearly 13% of workforce
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

The logo of Credit Suisse is seen outside its office building in Hong Kong, China, August 8, 2023. REUTERS/Tyrone Siu/File photo Acquire Licensing RightsZURICH, Sept 29 (Reuters) - Credit Suisse has shed nearly 13% of its workforce in the past 12 months, underlining the turmoil at the bank that was taken over by cross-town rival UBS (UBSG.S) in a state-engineered rescue earlier this year. The number of Credit Suisse employees fell to 33,968 at the end of June, from 38,908 at the end of June 2022, the bank said in its financial report published on Friday. The figures relate to Credit Suisse AG, the lender's core banking business. A Credit Suisse spokesperson declined to comment on the breakdown between voluntary departures and job cuts, or how many jobs could be lost in future.

Persons: Tyrone Siu, Sergio Ermotti, Ermotti, John Revill, Emelia Sithole, Mark Potter, Susan Fenton Organizations: Credit Suisse, REUTERS, Rights, UBS, Credit Suisse AG, Asset Management Association Switzerland, Thomson Locations: Hong Kong, China, Switzerland

☆ Exclusive: HSBC to acquire Citigroup China consumer wealth business -sources
▼ + stars: | 2023-09-28 | by ( Selena Li | ) www.reuters.com time to read: +1 min

[1/2] A logo of HSBC is seen on its headquarters at the financial Central district in Hong Kong, China August 4, 2020. REUTERS/Tyrone Siu//File Photo Acquire Licensing RightsHONG KONG, Sept 28 (Reuters) - HSBC (HSBA.L) is set to acquire Citigroup's (C.N) China consumer wealth management business, which manages more than $3 billion in assets, two sources with knowledge of the matter said, in a major boost to the London-based bank's business in that country. Citi said in December it was looking to sell some of its portfolios as part of its plan to wind down its China retail banking business. Citi's China wealth management operations, part of the retail banking business it has planned to exit since 2021, mainly serves mass affluent clients in the world's second-largest economy. Reporting by Selena Li; Editing by Sumeet Chatterjee, Tom Hogue and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Tyrone Siu, Citi, Selena Li, Sumeet Chatterjee, Tom Hogue, Sonali Paul Organizations: HSBC, REUTERS, U.S, Citi, Thomson Locations: Hong Kong, China, HONG KONG, London, Asia

Screens showing the Hang Seng stock index and stock prices are seen outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsSept 28 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Sometimes markets get up a head of steam and it becomes very difficult to slow the momentum, far less reverse it. Asian stocks barely clawed back any of the previous days' losses either, and world stocks racked up a ninth straight decline. These moves are unlikely to provide a springboard for Asian markets on Thursday, and beyond Australian retail sales there is nothing on the economic or policy calendar likely to do so either.

Persons: Tyrone Siu, Jamie McGeever, Jerome Powell, Josie Kao Organizations: REUTERS, Treasury, Bloomberg, Thomson, Reuters Locations: Exchange, Hong Kong, China, Japan, China's, Australia, Germany, prelim

☆ Head of Hong Kong journalists' group sentenced to jail for obstructing police
▼ + stars: | 2023-09-25 | by ( Jessie Pang | Thomson Reuters | Jessie Pang Joined Reuters In After An Internship. She Covers Hong Kong With A Focus On Politics | ) www.reuters.com time to read: +2 min

[1/2] Ronson Chan, chairman of the Hong Kong Journalists Association (HKJA) arrives the West Kowloon Magistrates Courts after been charged with obstructing police, in Hong Kong, China September 22, 2022. Ronson Chan, chairman of the Hong Kong Journalists Association, was detained and handcuffed by two plainclothes officers while covering a story after he failed to hand over his personal identity card. The journalist cannot leave Hong Kong and had to surrender his travel documents. The Hong Kong Journalists Association is one of the last major professional groups in Hong Kong advocating fundamental rights and press freedoms, following the enactment in June 2020 of a national security law by Chinese authorities. ($1 = 7.8156 Hong Kong dollars)Reporting By Jessie Pang; writing by Greg Torode; editing by Mark Heinrich and Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

Persons: Ronson Chan, Tyrone Siu, Hong Kong's, Chan, Leung Ka, Leung, Jessie Pang, Greg Torode, Mark Heinrich, Toby Chopra Organizations: Hong Kong Journalists Association, REUTERS, Tyrone, Chan HK, Thomson Locations: Kowloon, Hong Kong, China, HONG KONG, Britain, Beijing

Houses at the Redhill Peninsula, a luxurious residential estate in the Tai Tam area of Hong Kong, on September 13. She was referring to the Hong Kong International School, one of the most prestigious in town. Flooded roads after heavy rains in Hong Kong on September 8. Typhoon Saola, which barreled through Hong Kong on September 1, was the strongest to hit the city in five years. Scientists say climate change will make such weather events only more frequent and some are urging Hong Kong to rethink its rain mitigation strategy.

Persons: Hong Kong CNN —, Feng Shui, –, Benny Chan, Chris Lau, ”, Tyrone Siu, Saola, Haikui, Hong Kong, Leung, ” Leung, Mai, Ray Su, Su, wouldn’t, John Lee, Chan, ” Chan, “, Chan Kim Organizations: Hong Kong CNN, South China, Hong Kong Institute of Architects, CNN, Redhill, Porsche, Rover, Ferrari, Hong Kong International School, RTHK, University of Hong, Hong Kong’s Buildings Department, Liber Research Locations: Hong Kong, South, tycoons, Redhill, Tai Tam, Malibu, Los Angeles, “, Hong, University of Hong Kong

☆ China's Foreign Ministry requests consulates in Hong Kong to give data of local staff
▼ + stars: | 2023-09-19 | by ( Jessie Pang | Thomson Reuters | Jessie Pang Joined Reuters In After An Internship. She Covers Hong Kong With A Focus On Politics | ) www.reuters.com time to read: +2 min

FLIE PHOTO: The Chinese national flag is seen in front of the financial district Central on the Chinese National Day in Hong Kong, China October 1, 2022. In a letter seen by Reuters, The Commissioner’s Office of China’s Foreign Ministry wrote that consulates must comply with the request by Oct 18th. The letter was sent to all consulates according to media outlets Hong Kong Free Press and local Ming Pao newspaper. China's Foreign Ministry in Hong Kong and the Hong Kong government did not immediately respond to request for comment. Additional reporting by Liz Lee in Beijing and Greg Torode in Hong Kong; writing by Farah Master; editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Tyrone Siu, Liz Lee, Greg Torode, Farah, Michael Perry Organizations: REUTERS, Ministry, Reuters, China’s Foreign Ministry, British, Consular, European Union, Hong Kong Free Press, Ming Pao, Foreign Ministry, Hong, US, Thomson Locations: Central, Hong Kong, China, HONG KONG, Beijing, Vienna, British

☆ China's industry ministry to work on standards for the metaverse
▼ + stars: | 2023-09-18 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

The ministry released a draft proposal to form a working group for the metaverse, shared virtual worlds accessible via the internet, on Monday. The proposal said that the metaverse is one of the nine emerging tech sectors which China should strive to establish standards for. "[The metaverse industry] faces many challenges," the MIIT said, "It is urgent to promote healthy and orderly development of the metaverse industry through standardization and guidance." It added that the metaverse industry suffers from a lack of clear definitions, which had allowed some capitalists and companies to drum up speculation in the market. Reporting by Josh Ye in Hong Kong and Beijing newsroom, Editing by Louise Heavens and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Refik Anadol, Tyrone Siu, Josh Ye, Louise Heavens, Emelia Organizations: Art, REUTERS, Tyrone, Rights, China's Ministry of Industry, Information Technology, Thomson Locations: Hong Kong, China, Rights BEIJING, Beijing

☆ Watch: Speaker McCarthy Launches Impeachment Inquiry Into Biden
▼ + stars: | 2023-09-12 | by ( ) www.wsj.com time to read: 1 min

Can AI Help Make Fashion More Inclusive? The fashion industry is turning to artificial intelligence to help expand the body types and backgrounds of models in ads. Katharine Zarrella, the Fashion Director of WSJ Off Duty, joins host Zoe Thomas to discuss how the fashion world is dressing up AI. Plus, tech leaders descended on Washington to share their thoughts on how AI should be regulated. Photo: Tyrone Siu/Reuters

Persons: Katharine Zarrella, Zoe Thomas, Tyrone Siu Locations: Washington

☆ UBS job cuts are tiny strike at Asia wealth fears
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

The logo of UBS Group is seen at an office building in Hong Kong, China March 20, 2023. The headcount reduction is tiny compared to the thousands it slashed in Europe but it hits on two regional wealth worries. Their risk-taking appetite has diminished as the end of cheap money fuels a shakeout in valuations. More significantly, the pruning of jobs in Hong Kong and Singapore hints at a muted outlook for banks that have thrived on handling assets of rich families. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Tyrone Siu, Una Galani, Katrina Hamlin Organizations: UBS Group, REUTERS, Tyrone, Rights, Reuters, UBS, Credit Suisse, X, Warner Bros Discovery, Thomson Locations: Hong Kong, China, Rights SINGAPORE, Swiss, Asia, Europe, Indonesia, Singapore

☆ Hong Kong 'black' rainstorm: Widespread flash flooding after heaviest rainfall since 1884
▼ + stars: | 2023-09-07 | by ( Jessie Yeung | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Record-breaking rainfall paralyzed much of Hong Kong on Friday, with flash flooding submerging metro stations and trapping drivers on roads, as authorities suspended schools and urged the public to seek safe shelter. Vehicles submerged in a flooded parking lot in Hong Kong on September 8, 2023. Tyrone Siu/ReutersThe extreme conditions caught many residents by surprise and come just days after Hong Kong was lashed by its strongest typhoon in five years. A shopping mall floods during heavy rain in Hong Kong on September 8, 2023. A bus drives through a flooded area in Hong Kong on September 8, 2023.

Persons: Tyrone Siu, Hong Kong, Typhoon Saola, Wong Tai, “ Organizations: Hong Kong CNN —, Hong Kong Observatory, Hong Kong, Mass Transit Railway, RTHK, Transport Locations: Hong Kong, Hong, Wong Tai Sin, New Territories, Shenzhen

☆ Special Counsel to Seek Indictment for Hunter Biden
▼ + stars: | 2023-09-06 | by ( ) www.wsj.com time to read: 1 min

Persons: Katharine Zarrella, Zoe Thomas, Tyrone Siu Locations: Washington

☆ Japan to allocate $140 mln more to help fisheries after China's import ban
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

Japanese imports of seafood are seen in a supermarket in Hong Kong, China July 12, 2023. REUTERS/Tyrone Siu/File photo Acquire Licensing RightsTOKYO, Sept 4 (Reuters) - Japanese Prime Minister Fumio Kishida said on Monday the government would allocate an additional 20.7 billion yen ($141.41 million) to support the fisheries industry after China's total import ban of Japanese aquatic products. The ban followed the start of Japan's release of treated radioactive water from the destroyed Fukushima Daiichi nuclear power plant last month. The government had previously set up two funds worth 80 billion yen to help develop new markets and keep excess fish frozen until they can be sold when demand recovers, among other measures. With the additional funding, from budget reserves, support would total 100.7 billion yen, Kishida said.

Persons: Tyrone Siu, Fumio Kishida, Kishida, Kaori Kaneko, Chang, Ran Kim Organizations: REUTERS, Rights, Thomson Locations: Hong Kong, China

☆ Morning Bid: Try to top that one, Asia
▼ + stars: | 2023-09-03 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

Staff lower Chinese national flag in front of screens showing the index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsSept 4 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp, financial markets journalist. Asian markets have a tough act to follow on Monday - their own. "Clearly, we've seen a significant slowdown in the Chinese economy the last couple of months," said Ryan Detrick, chief market strategist at Carson Group in Omaha. On Thursday, Japan is due to release revised second-quarter GDP data and CPI and PPI reports from China are on deck for Friday.

Persons: Tyrone Siu, Stephen Culp, Ryan Detrick, Saola, Li Qiang, Diane Craft Organizations: REUTERS, Carson Group, Association of Southeast Asian Nations, ASEAN, PMI, CPI, PPI, South Korea CPI, Australia Judo Bank, Thomson, Reuters Locations: Exchange, Hong Kong, China, Shanghai, Shenzhen, Asia, Beijing, Omaha, Guangdong, Macau, Taiwan, India, Japan

☆ Typhoon Saola makes landfall in Guangdong after slamming Hong Kong, Macau
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +3 min

A man looks at fallen trees following Super Typhoon Saola, in Hong Kong, China September 2, 2023. The Asian financial hub of Hong Kong and China's neighbouring populous province of Guangdong cancelled hundreds of flights on Friday and shut businesses, schools and financial markets as Saola had edged closer. Packing winds of more than 200 kph (125 mph) as a super typhoon, Saola was among the strongest to menace the southern province since 1949. Hong Kong imposed its highest hurricane storm signal 10 on Friday night, lowering it to 8 by Saturday morning. Reporting by Farah Master, Joyce Zhou and Tyrone Siu in Hong Kong; Additional reporting by Ben Blanchard in Taipei; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Tyrone Siu, Saola, Tseung Kwan, Farah Master, Joyce Zhou, Ben Blanchard, William Mallard Organizations: REUTERS, Tyrone, city's, Authority, Flagship, Cathay, HK, TVB, Facebook, Sunday, Thomson Locations: Hong Kong, China, HONG KONG, Chinese, Guangdong, Shenzhen, Macau, Zhuhai, Hong Kong's, Taipei

The Chinese national flag is seen in front of the financial district Central on the Chinese National Day in Hong Kong, China October 1, 2022. Most were on the fund's private equity team and were informed early last month, according to two of the people. CPP, which employs more than 150 people in Hong Kong, its Asia hub, declined to comment. The Ontario Teachers' Pension Plan (OTPP) closed down its China equity investment team based in Hong Kong in April, Reuters has reported. There have been $3.2 billion worth of acquisitions of firms in China by private equity so far this year.

Persons: Tyrone Siu, Gina Raimondo, Canada's, Michel Leduc, Julie Zhu, Kane Wu, Edwina Gibbs Organizations: REUTERS, Investments, U.S, . Commerce, The Ontario Teachers, Reuters, Caisse, Financial Times, Thomson Locations: Central, Hong Kong, China, HONG KONG, Asia, Canada, U.S, Washington, Shanghai

☆ Hong Kong hunkers down as super typhoon Saola approaches
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] A girl reads a book at a bookstore, which windows are taped in anticipation of typhoon Saola in Hong Kong, China August 31, 2023. REUTERS/Tyrone Siu Acquire Licensing RightsHONG KONG, Sept 1 (Reuters) - Hong Kong braced for the arrival of super typhoon Saola on Friday as authorities raised the strong wind signal to No.8, bringing the city to an effective standstill with most businesses, schools and the stock exchange shut. Saola is expected to skirt within 100km (60 miles) of Hong Kong on Friday night and Saturday morning, causing weather conditions to deteriorate rapidly, the city's weather observatory said. Hong Kong has five rankings for typhoons, 1, 3, 8, 9 and 10, which is the strongest hurricane signal. All schools in Hong Kong will be closed on Friday, despite being the first day of term for many, the government said.

Persons: Tyrone Siu, Hong Kong, Farah Master, Ben Blanchard, Lincoln Organizations: REUTERS, Tyrone, Supermarkets, Kong's, Cathay Pacific, Weather Bureau, Thomson Locations: Hong Kong, China, HONG KONG, Guangdong, Hong, Wan Chai district, Taiwan, Fuzhou, Taipei

☆ China hones anti-submarine capabilities amid South China Sea tensions
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsBEIJING, Aug 31 (Reuters) - China's military said it had recently held intensive anti-submarine exercises in the strategically important South China Sea as part of efforts to hone its capabilities amid rising maritime tensions with its neighbours and their allies. It was one of several such drills this year and was part of broader activities the Chinese military has conducted in the Indo-Pacific region. The United States and its allies have also stepped up military activities, especially in the South China Sea, most of which is claimed by Beijing. Last week, the U.S. and Indonesian defence chiefs said China's territorial claims in the South China Sea were "inconsistent with international law". "Japan and the United States have frequent submarine activities in the region," said Chinese military commentator Song Zhongping, but those activities were not disclosed.

Persons: Tyrone Siu, Song Zhongping, Albee Zhang, Ryan Woo, Gerry Doyle Organizations: Community Emergency, Team, REUTERS, Rights, Southern Command Theatre, China's, Liberation Army, Beijing, U.S . Navy, Seventh Fleet, Thomson Locations: Hong Kong, China, Rights BEIJING, South China, United States, U.S, Philippine, Japan, Australia, Britain

Windows are taped in anticipation of Typhoon Saola at a store in Hong Kong on August 31. In Shenzhen, a high-tech hub bordering Hong Kong, classes have been suspended at all nurseries, kindergartens, primary and secondary schools. Hong Kong residents stock up as Typhoon Saola approaches on August 31. A customer walks past nearly empty shelves at a supermarket as Typhoon Saola approaches Hong Kong on August 31. Hong Kong has canceled 366 flights while some 40 more have experienced a delay, said Yeung Tat-wing, general manager of operation at the Airport Authority Hong Kong.

Persons: Hong Kong, Saola, Tyrone Siu, HKO, Hong, Eric Chan, Mangkhut, “, Yeung, Typhoon Talim Organizations: CNN — Schools, Hong, Typhoon, Hong Kong Observatory, Xinhua, Kong’s, Cathay Pacific, Cathay, Airport Authority Locations: Philippines, Hong Kong, Guangdong Province, China, Guangdong, Shenzhen, Macau, New York, JFK, Cathay Pacific, Hong, Airport Authority Hong Kong . Hong Kong

☆ Credit Suisse 1a Immo PK real estate fund to remain unlisted
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

The logo of Credit Suisse bank is seen outside its office building in Hong Kong, China March 20, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsZURICH, Aug 24 (Reuters) - The Credit Suisse 1a Immo PK real estate fund will remain unlisted and not floated in an initial public offering planned for the fourth quarter of 2023, the Swiss bank, which is now a subsidiary of UBS (UBSG.S), said on Thursday. "Due to the renewed fall in trading volumes on the market for listed Swiss real estate funds compared with the previous year; (an IPO) would likely have led to significantly higher volatility in the event of a stock exchange listing," Credit Suisse AG said. With UBS taking over Credit Suisse earlier this year and in the process of integrating its former rival, the decision would also give allow the newly formed real estate unit within UBS Asset Management to coordinate and refocus its offering. Reporting by Noele Illien; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Tyrone Siu, Noele Illien, Christopher Cushing Organizations: Credit, REUTERS, Rights, UBS, Suisse AG, Credit Suisse, Management, Thomson Locations: Credit Suisse, Hong Kong, China, Swiss

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