Trending News: China's $137bn Tibet dam plan triggers backlash: 5 things to knowChina stocks fall after Trump reiterates 10% tariff threatTSMC assessing impact of 6.4-magnitude Taiwan quake on chip hubEx-Sharp CEO sues Foxconn and founder Terry Gou over bonus disputeMalaysia calls on ASEAN members to show 'trust and support' for the blocTikTok says it will go dark Sunday in U.S. without assurance from BidenChina posts 5% growth for 2024 as challenges pile upBOJ's hawkish tone seen raising odds of rate hike next weekGarment factory closures cast dark shadow over Bangladesh economyXiaohongshu tops U.S. App Store as TikTok sell-or-ban deadline nearsChinese smaller lender lists in Hong Kong as banks feel economic strainMovie durations rise with streaming but clash with consumer trendSouth Korea women's school becomes nation's latest gender battlegroundU.K. finance chief heads to Beijing amid Chinese spying allegationsHong Kong companies eye American funding despite U.S. crackdownSamsung's Q4 profit tumbles 30% amid memory downturn, labor costsNippon Steel has no intention or need to give up on U.S. Steel: CEOThailand to see new Japanese hotels with tatami rooms, outdoor bathsEntrepreneurs turn old Bangkok trade hub into trendy spotCraft beer bliss in Japan's Otaru: German malt meets soft waterCoke boycott over Gaza boosts Japanese-owned Turkish colaAsian streaming services claw back against Netflix and DisneySouth Korea's single malt whiskey seeps into Japan with Itochu's helpP-pop and Thai movies: Entertainment sweeps Southeast Asia in 2024Chinese consumers become thrifty but ready to spend on relaxationLifestyle hotels on the rise in greater TokyoOld-school Pokemon cards are a bigger deal now than everJapan's Nidec to offer takeover bid for machinery company Makino'Squid Game' draws tie-ins with Samsung, Kia and more before new seasonThai Oil injects $1.7bn more into stalled refinery projectThailand's Siam Cement suffers latest setback at Vietnam petrochemical plant'Adventurous' Honda and 'staid' Nissan explore merger: 5 things to knowMalaysians save in Singapore for retirement amid pension concernsSouth Korea investigators streamline Yoon martial law probeCanada finance minister's resignation tests Justin TrudeauTop China wealth manager expands to Japan as home market stallsSouth Korea's Yoon impeached: 5 things to knowSouth Korea's President Yoon faces second impeachment voteJapan business mood rises for the first time in 2 quarters: BOJ TankanU.S. House passes defense budget with Chinese lobbying limitsAsia to feel material impact of Trump policies in 2026, says ADBVietnam's FPT eyes investment from SBI in Japan AI data center businessSingapore outruns Hong Kong in 'Trump trade' stock rallySouth Korea's Yoon survives impeachment bid: 3 things to knowHong Kong's surprise cinema hit shows resilience of embattled industryCool job: Japan neck AC chills workers by 20 C as global temps riseSouth Korea martial law attempt meets harsh U.S. criticismSerious reservations about Japan's fine dining sceneJapan's APA opens new Osaka flagship hotel as Marriott, IHG move inAdani crisis sequel makes investors in Indian companies think twiceJapan to grant radar to Philippines amid South China Sea tensionsToyota and Honda seen beating profit forecasts on weak yenSri Lanka turns to untried leftists to lead break from poverty, strifeAsian capitals seek to master 'the art of the deal' to appease TrumpChina's Xiaomi rolls EVs, appliances into shopping malls in shift to lifestyle brandU.S. state pension divests nearly $300m from ChinaAsian buyers, central banks likely to support gold prices amid slumpIn Tokyo, I've embraced a car-free life in a city built for itNippon Life, Dai-ichi Life watch for Trump impact on U.S. rates, stocksTaiwan's Kuomintang faces identity test in age of TrumpSMBC to launch same-day supply chain financing in AsiaJapan sees rise in steel anti-dumping probes amid China overcapacitySoutheast Asian family firms lay ground for next generation's successionAustralia must carve out a new path as Trump seeks to end free tradeVietnam's Data Law draft risks stifling investment and innovationJapan kicks off uniform Japanese-language teaching certificationsJapanese company builds on cool idea for logistics: seawater iceNickel prices slide on EV and China construction slowdownsJapan's Taiyo Oil plans $1bn sustainable aviation fuel hub in OkinawaLui Che Woo, casino tycoon and Galaxy Entertainment founder, dead at 95Chicago Cubs draft Japanese firm to reduce baseball injuriesTrump tariffs risk raising U.S. auto production costs by $40bnIndonesia pivots to homegrown auto brand for official vehiclesWith Trump's return, U.S. allies need Plan B for securityPOSCO aims to curb China reliance through tie-up with India's JSWU.S. election live blog: Harris, Trump locked in close race on Election DaySouth Korea pushes AI to bolster military as population shrinksJapan's manufacturers face earnings downturn as China economy slipsJapan to help Romania generate green electricity destined for UkraineShohei Ohtani helps Dodgers draw Japan sponsorships in World Series runToyota group parts makers cut profit forecasts on China troublesIndia's stock market faces test as outflows surgeThailand, Indonesia lose ground to Ivory Coast in rubber outputIndia grows defense industry with first private military aircraft factoryJapan election latest: Ishiba says results 'very severe' for LDPFrance's Gevrey-Chambertin partners with up-and-coming Japan wine regionJapan's Funai fell victim to Asia competition, succession troublesThe importance of a strong company culture: Henry Kravis (24)Xi and Modi signal closer China-India ties, easing border tensionTakeda cuts more jobs in U.S. and Japan amid slow growthIndia and China finally reach key border patrol agreementJapan's tourism dilemma: Japanese are being priced out of hotelsSony and Honda to deploy AI to boost EV self-driving capabilityTrump would build on Asia security ties: Hudson Institute's Japan headHyundai Motor stock to begin Mumbai trading after $3.3bn IPOSiam Commercial Bank launches stablecoin-based cross-border paymentsJapan election campaign kicks off; 465 lower house seats up for grabsTaiwan reports record incursions as China holds large military exerciseBritish foreign secretary set for China trip as U.K. seeks investmentBRICS becomes more promising
Thu. Jan 23rd, 2025
Trending News: China's $137bn Tibet dam plan triggers backlash: 5 things to knowChina stocks fall after Trump reiterates 10% tariff threatTSMC assessing impact of 6.4-magnitude Taiwan quake on chip hubEx-Sharp CEO sues Foxconn and founder Terry Gou over bonus disputeMalaysia calls on ASEAN members to show 'trust and support' for the blocTikTok says it will go dark Sunday in U.S. without assurance from BidenChina posts 5% growth for 2024 as challenges pile upBOJ's hawkish tone seen raising odds of rate hike next weekGarment factory closures cast dark shadow over Bangladesh economyXiaohongshu tops U.S. App Store as TikTok sell-or-ban deadline nearsChinese smaller lender lists in Hong Kong as banks feel economic strainMovie durations rise with streaming but clash with consumer trendSouth Korea women's school becomes nation's latest gender battlegroundU.K. finance chief heads to Beijing amid Chinese spying allegationsHong Kong companies eye American funding despite U.S. crackdownSamsung's Q4 profit tumbles 30% amid memory downturn, labor costsNippon Steel has no intention or need to give up on U.S. Steel: CEOThailand to see new Japanese hotels with tatami rooms, outdoor bathsEntrepreneurs turn old Bangkok trade hub into trendy spotCraft beer bliss in Japan's Otaru: German malt meets soft waterCoke boycott over Gaza boosts Japanese-owned Turkish colaAsian streaming services claw back against Netflix and DisneySouth Korea's single malt whiskey seeps into Japan with Itochu's helpP-pop and Thai movies: Entertainment sweeps Southeast Asia in 2024Chinese consumers become thrifty but ready to spend on relaxationLifestyle hotels on the rise in greater TokyoOld-school Pokemon cards are a bigger deal now than everJapan's Nidec to offer takeover bid for machinery company Makino'Squid Game' draws tie-ins with Samsung, Kia and more before new seasonThai Oil injects $1.7bn more into stalled refinery projectThailand's Siam Cement suffers latest setback at Vietnam petrochemical plant'Adventurous' Honda and 'staid' Nissan explore merger: 5 things to knowMalaysians save in Singapore for retirement amid pension concernsSouth Korea investigators streamline Yoon martial law probeCanada finance minister's resignation tests Justin TrudeauTop China wealth manager expands to Japan as home market stallsSouth Korea's Yoon impeached: 5 things to knowSouth Korea's President Yoon faces second impeachment voteJapan business mood rises for the first time in 2 quarters: BOJ TankanU.S. House passes defense budget with Chinese lobbying limitsAsia to feel material impact of Trump policies in 2026, says ADBVietnam's FPT eyes investment from SBI in Japan AI data center businessSingapore outruns Hong Kong in 'Trump trade' stock rallySouth Korea's Yoon survives impeachment bid: 3 things to knowHong Kong's surprise cinema hit shows resilience of embattled industryCool job: Japan neck AC chills workers by 20 C as global temps riseSouth Korea martial law attempt meets harsh U.S. criticismSerious reservations about Japan's fine dining sceneJapan's APA opens new Osaka flagship hotel as Marriott, IHG move inAdani crisis sequel makes investors in Indian companies think twiceJapan to grant radar to Philippines amid South China Sea tensionsToyota and Honda seen beating profit forecasts on weak yenSri Lanka turns to untried leftists to lead break from poverty, strifeAsian capitals seek to master 'the art of the deal' to appease TrumpChina's Xiaomi rolls EVs, appliances into shopping malls in shift to lifestyle brandU.S. state pension divests nearly $300m from ChinaAsian buyers, central banks likely to support gold prices amid slumpIn Tokyo, I've embraced a car-free life in a city built for itNippon Life, Dai-ichi Life watch for Trump impact on U.S. rates, stocksTaiwan's Kuomintang faces identity test in age of TrumpSMBC to launch same-day supply chain financing in AsiaJapan sees rise in steel anti-dumping probes amid China overcapacitySoutheast Asian family firms lay ground for next generation's successionAustralia must carve out a new path as Trump seeks to end free tradeVietnam's Data Law draft risks stifling investment and innovationJapan kicks off uniform Japanese-language teaching certificationsJapanese company builds on cool idea for logistics: seawater iceNickel prices slide on EV and China construction slowdownsJapan's Taiyo Oil plans $1bn sustainable aviation fuel hub in OkinawaLui Che Woo, casino tycoon and Galaxy Entertainment founder, dead at 95Chicago Cubs draft Japanese firm to reduce baseball injuriesTrump tariffs risk raising U.S. auto production costs by $40bnIndonesia pivots to homegrown auto brand for official vehiclesWith Trump's return, U.S. allies need Plan B for securityPOSCO aims to curb China reliance through tie-up with India's JSWU.S. election live blog: Harris, Trump locked in close race on Election DaySouth Korea pushes AI to bolster military as population shrinksJapan's manufacturers face earnings downturn as China economy slipsJapan to help Romania generate green electricity destined for UkraineShohei Ohtani helps Dodgers draw Japan sponsorships in World Series runToyota group parts makers cut profit forecasts on China troublesIndia's stock market faces test as outflows surgeThailand, Indonesia lose ground to Ivory Coast in rubber outputIndia grows defense industry with first private military aircraft factoryJapan election latest: Ishiba says results 'very severe' for LDPFrance's Gevrey-Chambertin partners with up-and-coming Japan wine regionJapan's Funai fell victim to Asia competition, succession troublesThe importance of a strong company culture: Henry Kravis (24)Xi and Modi signal closer China-India ties, easing border tensionTakeda cuts more jobs in U.S. and Japan amid slow growthIndia and China finally reach key border patrol agreementJapan's tourism dilemma: Japanese are being priced out of hotelsSony and Honda to deploy AI to boost EV self-driving capabilityTrump would build on Asia security ties: Hudson Institute's Japan headHyundai Motor stock to begin Mumbai trading after $3.3bn IPOSiam Commercial Bank launches stablecoin-based cross-border paymentsJapan election campaign kicks off; 465 lower house seats up for grabsTaiwan reports record incursions as China holds large military exerciseBritish foreign secretary set for China trip as U.K. seeks investmentBRICS becomes more promising
Thu. Jan 23rd, 2025

Hong Kong virtual banks struggle to turn profits after four years


The Hong Kong Monetary Authority introduced virtual banking under the city’s ‘smart banking era’ initiatives in 2017. (Nikkei montage/Source photos by Reuters)

ECHO WONG, Nikkei staff writer | Hong Kong

HONG KONG — In the four years since they began operating, Hong Kong’s eight virtual banks have yet to become consistently profitable as they struggle with a low volume of transactions.

While one says it is recording “monthly net profits,” two others say the break-even point is in sight.





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    • Peter Horovski

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