Hong Kong billionaire Dickson Poon is exploring strategic options for luxury department store Harvey Nichols, including a possible sale or fresh investment, potentially ending more than three decades of ownership. The Harvey Nichols sale review comes as the UK luxury retailer continues to face a challenging trading environment. According to the Financial Times, Poon has appointed FTI Consulting to evaluate strategic alternatives and has begun preliminary discussions with seve

Global financial institutions are increasingly prioritising South Korea for regional expansion while adopting a more cautious approach towards China and India, according to a joint survey by the Asia Securities Industry & Financial Markets Association and KPMG. The South Korea financial sector has become one of the region's fastest-growing destinations for international financial firms. Approximately two-thirds of the 34 institutions surveyed plan to expand across Asia-Pacifi

Thailand's newly licensed virtual banks are expected to expand cautiously during their initial years of operation as regulators prioritise financial stability and prudent risk management, according to market analysts. The Thailand virtual banks framework requires institutions to undergo a restricted operating phase lasting between three and five years before receiving full licences. Under regulations issued by the Bank of Thailand, new virtual banks must maintain paid-up capi

Family offices across Asia-Pacific are adopting a more institutional investment approach, moving beyond traditional trophy properties and wealth preservation strategies into sectors offering stronger long-term growth and recurring income, according to the Asia Pacific Real Assets Association (Aprea). The shift in family office real estate investment reflects growing demand for diversified portfolios supported by professional governance and specialist investment teams. The rep

Ares Management is seeking commitments for a new Asia private credit fund as global alternative asset managers compete to capture expanding lending opportunities across the region. The proposed Asia private credit vehicle, Asia Direct Lending II, is expected to finance leveraged buyout transactions throughout Asia-Pacific and could exceed the USD1.7bn raised by its predecessor. People familiar with the fundraising said details remain under discussion and Ares declined to comm

China's new outbound investment rules, effective from July 1, are expected to reshape rather than reduce overseas expansion by Chinese companies using Singapore as their regional base, according to entrepreneurs, investors and advisers. The China outbound investment rules introduce more comprehensive supervision while maintaining support for international business expansion. The regulations establish "full-process supervision" over outbound investments and extend national sec

Shanghai should strengthen its role as China's principal financial centre for companies expanding internationally, potentially increasing competition with Hong Kong, according to Shanghai Finance Institute vice-president Liu Xiaochun. The Shanghai financial hub proposal argues that growing outbound investment requires broader financial support than a single international centre can provide. Liu acknowledged Hong Kong's established position as a mature global financial hub but

Japan's private equity market maintained strong momentum during 2025, with deal value reaching JPY4.8tr (USD29.8bn), marking the fifth consecutive year above JPY3tr, according to Bain & Company's Japan Private Equity Report 2026. The Japan private equity market continues to benefit from governance reforms, larger buyout transactions and improving operational performance. Exit value reached a record JPY2.4tr as sponsors disposed of older investments, while transactions exceedi

Hong Kong is preparing further legal and regulatory enhancements to support wider adoption of distributed ledger technology within its fixed-income markets following completion of the first phase of a government-led review. The Hong Kong tokenised bonds initiative aims to strengthen the city's position as a leading digital capital-markets centre. The Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority concluded that the existing legal framework is

Asia has become the world's dominant centre for wealth creation, now accounting for 58% of the global billionaire population, according to Josh Gardner, chief executive of data consultancy Kung Fu Data. The Asia wealth creation trend highlights the region’s growing influence on global entrepreneurship, investment and family wealth. Gardner said New York remains the world's leading billionaire city, but Shenzhen, Shanghai and Beijing now occupy the next three positions, while

Artificial intelligence is becoming an increasingly important source of investment research, but affluent investors continue to rely on professional advisers when making major financial decisions, according to HSBC Hong Kong. The AI investment advice survey highlights growing adoption of digital tools while reinforcing the enduring value of human expertise. The study, covering nearly 10,000 investors across 10 markets, found that more than three-quarters of Hong Kong responde

The global population of ultra-high-net-worth individuals expanded at its fastest pace in eight years during 2025, driven largely by rapid wealth creation across Asia, according to Altrata’s World Ultra Wealth Report 2026. The ultra-high-net-worth individuals population increased 14.4% to a record 556,850 people worldwide. Combined wealth reached approximately USD63.8tr, including around USD26tr in investable assets. The United States remained the largest UHNW market with 37%

China’s National Audit Office has identified significant China financial irregularities involving several leading state-backed financial institutions, reinforcing Beijing’s campaign to strengthen governance and reduce systemic financial risks. The findings involve Bank of China, Agricultural Bank of China and China Everbright Group. According to the audit, Bank of China used affiliated financial institutions and nominal employee investors to classify 11 private investment fun

Fundraising has overtaken exits as the biggest challenge confronting Asia-Pacific private equity and venture capital firms, according to new research by DealStreetAsia and Vistra Fund Solutions. The APAC private capital survey found investors have become increasingly selective as geopolitical uncertainty and tighter liquidity reshape fundraising conditions. Among 105 senior industry executives surveyed, 57.5% identified fundraising as the principal source of friction, compare

Hong Kong is on course for one of its strongest initial public offering performances in recent years, with EY forecasting that the Hong Kong IPO market will deliver 84 listings raising HKD209.8bn (USD26.8bn) during the first half of 2026. The projected fundraising would rank Hong Kong second globally and represents proceeds 92% above the average first-half level recorded over the past five years. EY maintained its full-year forecast of HKD320bn in IPO proceeds, citing a robus

Southeast Asia has become the leading international expansion destination for Chinese companies, with finance executives increasingly viewing the region as the primary engine for future growth, according to new research from the Association of Chartered Certified Accountants. The Southeast Asia growth outlook reflects changing global supply chains and rising cross-border investment opportunities. ACCA’s CFO Leadership in Globalisation study found that 57% of Chinese finance l

JPMorgan has appointed Kelvin Goh and Alfons Halim as co-heads of its Southeast Asia investment banking business, reinforcing its regional leadership team as deal activity continues to recover across Asia. The JPMorgan Southeast Asia appointments took effect immediately and form part of the bank’s ongoing investment in regional advisory capabilities. Both executives will remain based in Singapore while retaining their existing responsibilities. Goh continues as head of the As

South Korea will continue pursuing inclusion in MSCI’s developed-market index after the country remained classified as an emerging market because of unresolved foreign-exchange restrictions. The South Korea MSCI decision highlights continuing concerns among international investors over market accessibility despite ongoing regulatory reforms. MSCI said limited offshore convertibility of the Korean won and insufficient onshore liquidity during extended foreign-exchange trading

Hong Kong banks should broaden their Hong Kong family office services as a new generation of wealthy Asian entrepreneurs increasingly seeks strategic advice that extends beyond traditional investment management, according to KPMG. The recommendation comes as family offices become more prominent across the region amid rapid wealth creation and growing succession-planning needs. KPMG’s 2026 survey found that 46% of Asian family offices were established within the past five year

China is proposing significantly tougher sanctions for accounting firms involved in fraudulent corporate reporting as regulators intensify efforts to improve market integrity and investor confidence. The proposed China auditor penalties form part of a wider campaign targeting financial misconduct among listed companies and market intermediaries. Under draft amendments to the Certified Public Accountants Law, the maximum fine for issuing false audit reports would increase from