Hong Kong’s IPO ranking sank to the 8th this year. But analysts are confident the stock exchange can shrug off a dismal year, pointing to potentially lower rates next year and China’s policy boost for the economy.
Standard Chartered, one of Hong Kong's three currency-issuing banks, reported worse-than-expected earnings for the third quarter because of high impairment charges related to exposure to China's property sector. The emerging-markets focused lender made a net loss of US$35 million for the July to September period, against a profit of US$964 million a year earlier. The London-based bank, which generates much of its revenue in Asia, reported US$633 million in pre-tax profit, a decline of 54 per cen