Bank of East Asia Shareholders Approve All Resolutions at 2026 AGM

TipRanks16:39

Elderly investment scams in the first quarter surged by nearly 70%, with fraudsters making off with HKD 3.3 billion, prompting police to collaborate with the Monetary Authority to crack down on "puppet account" transfers.

In the first quarter of this year, the police recorded 1,264 cases of elderly fraud victims, including 329 investment scam cases, with losses amounting to HKD 330 million, representing a nearly 70% increase year-on-year. A total of 9,427 fraud cases were reported in the first quarter, leading to the arrest of 1,961 individuals involved in various types of fraudulent activities, marking a 14% increase year-on-year. Investment scams accounted for 10% of all fraud cases, totaling 1,003 incidents, with financial losses reaching HKD 680 million. Among these, the case with the largest financial loss involved a 67-year-old male foreign businessman who developed an online romantic relationship with someone claiming to be an 'investment expert.' Over a six-month period, he transferred cryptocurrency assets worth HKD 847.9 million to the scammer’s electronic wallet, only realizing the fraud when he was unable to withdraw his earnings.

AASTOCKSMay 4 14:10

Total deposits at authorized institutions in Hong Kong rose by 0.1% in March.

The Hong Kong Monetary Authority announced that the total deposits of authorized institutions increased by 0.1% in March 2026, with Hong Kong dollar deposits rising by 0.7% while foreign currency deposits declined by 0.3%. In the first quarter, total deposits and Hong Kong dollar deposits rose by 1% and 1.9%, respectively. Renminbi deposits in Hong Kong increased by 0.6% in March, reaching RMB 1,035.2 billion at the end of the month. The total value of renminbi remittances for cross-border trade settlement amounted to RMB 1,290 billion in March, compared to RMB 866.5 billion in February. The authority noted that deposit changes are influenced by various factors, including interest rate trends and market fundraising activities, and therefore should be interpreted with caution.

AASTOCKSApr 30 16:39

Centaline Mortgage expects Hong Kong’s prime lending rate to remain at its current lowest level throughout this year.

The Federal Reserve announced the third interest rate decision of 2026 in the early hours, maintaining the federal funds rate at 3.5% to 3.75%, in line with market expectations. HSBC Bank, as a key indicator, announced that it would keep its prime lending rate unchanged at 5%, and it is anticipated that other banks will follow suit. Wang Meifeng, Managing Director of Centaline Mortgage, pointed out that the prolonged conflict between the US and Iran has not eased, continuing to drive up oil prices and disrupt supplies, which could gradually bring inflationary pressure back to the US. The development of the conflict has introduced uncertainty into the market. Although Federal Reserve Chair Jerome Powell’s term is set to end in mid-May this year, if inflationary pressures in the US rise again while the economy and employment remain stable, the Fed may need to reconsider its monetary policy stance.

AASTOCKSApr 30 12:12

The scale of the special funding program for small and medium-sized enterprises in the banking sector has been increased to 450 billion yuan.

Following a meeting between the Hong Kong Monetary Authority and the 'SME Financing Task Force,' a new round of support measures was jointly launched with the banking sector to assist local small and medium-sized enterprises (SMEs) in navigating the current volatile market environment. Among these measures, the 18 participating banks of the task force have further expanded the scale of their earmarked funds for SMEs within their loan portfolios, increasing the total amount from HKD 370 billion as of October 2024 to over HKD 450 billion at present, demonstrating the banking industry's commitment to supporting SMEs. The rise in oil prices has led to a significant increase in operating costs for some SMEs, particularly those in the transportation and logistics, manufacturing, and import-export sectors. Participating banks of the task force will adopt an inclusive approach while remaining prudent.

AASTOCKSApr 30 09:19

During the May Day Golden Week, East Asia (00023.HK) extended the operating hours of designated branches.

Bank of East Asia (00023.HK) announced that it will extend the operating hours of designated branches during the May Day Golden Week. During the extended hours, branches will provide services for opening personal bank accounts and general inquiries (cash transactions will not be available). The Harbour City Wealth Management Centre will operate as usual on May 2 and 3. On May 4 and 5, the operating hours of the Harbour City Wealth Management Centre, Causeway Bay Branch, and Sheung Shui Branch will be extended until 6:00 PM.

AASTOCKSApr 29 17:00