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Hang Seng Bank is a commercial bank whose major business activities include retail banking and wealth management, corporate and commercial banking, treasury services, and private banking. [ 2] Hang Seng Bank operates a network of around 260 service outlets in Hong Kong. [ 2] Hang Seng Bank is the only local bank to offer extensive branch ...
The Hong Kong dollar ( Chinese: 港元, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and the Hong Kong dollar. Three commercial banks are licensed by the Hong Kong Monetary ...
The economy of Hong Kong is a highly developed free-market economy. It is characterised by low taxation, almost free port trade and a well-established international financial market. [ 15][ 16] Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, [ 17] and is pegged to the US dollar. [ 18 ...
Ho Sin Hang, chairman of the Hang Seng Bank, conceived the idea of creating the Hang Seng Index as a "Dow Jones Index for Hong Kong". [4] [5] Along with Hang Seng Director Lee Quo-wei, he commissioned Hang Seng's head of Research Stanley Kwan to create the index in 1964, [4] the index was initially used for internal reference in the Hang Seng Bank, they debuted the index on November 24, 1969.
During the 1997 Asian financial crisis, currency speculators sold the Hong Kong dollar heavily and shorted local stocks and Hang Seng Index futures. The government controversially used the exchange fund to acquire HK$120 billion ( US$15 billion) worth of blue-chip shares in a two-week market intervention, beginning 12 August 1998 with the aim ...
The two exchanges merged to form the Hong Kong Stock Exchange in 1947 and re-establish the stock market after the Second World War. Rapid growth of the Hong Kong economy led to the establishment of three other exchanges – the Far East Exchange in 1969; the Kam Ngan Stock Exchange in 1971; and the Kowloon Stock Exchange in 1972.
t. e. A number of stock market crashes have occurred in the Hong Kong stock market since the 1960s: 1960s. Stock disaster in 1965 ( Canton Trust Bank run) Stock disaster in 1967 ( Hong Kong 1967 Leftist riots) 1970s. Stock disaster in 1973 ( 1973–74 stock market crash) 1980s.
Parent. Hang Seng Bank. Website. hsi.com.hk. Hang Seng Indexes Company Limited (HSI; Chinese: 恒生指數有限公司) is a private company in Hong Kong and wholly owned by Hang Seng Bank. [1] HSI was founded in 1984 and is the major provider of stock market indexes on Hong Kong and China stock markets such as in Shanghai and Shenzhen .
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