Money - Frontal Report

Featured News

Fearing Mass A.I. Layoffs, Some in Congress Eye Ways to Aid Workers

Oct 24, 2026

A bill to bolster the nation’s unemployment insurance program reflects the concern — and the risks — in Washington.

White House lifts tariffs on some Canadian goods as midterm elections loom

Oct 24, 2026

How does the UK state pension compare with other countries?

Oct 24, 2026

UK to invest £100m in 'world first' AI Biosecurity Lab

Oct 24, 2026

Before you crank up the thermostat, try these tips to keep your house warmer for longer

Oct 23, 2026

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Oct 23, 2026

France’s Avoids a Debt Downgrade From Moody’s, but Is Given a Warning

Moody’s held the country’s credit rating steady amid political uncertainty and a rise in borrowing costs that have worsened France’s debt situation.

Oct 23, 2026

A Simple Way to Benefit From Rising Rates: Buy Money Market Funds

Oct 23, 2026

Ahead of Tight Race, Trump Swaps Tariffs on Some Canadian Goods

Oct 23, 2026

Global Oil Price Hits $116 a Barrel, Highest Since April

Oct 23, 2026

How Worried Should We Be About the Economy? Let’s Look at 2008.

Interesting Read

Trump’s Tariffs Slow America’s Access to Canada’s Cheese

Just as they were finding a toehold stateside, artisanal producers got caught in a trade war.

Oct 23, 2026

Americans Are Struggling to Pay Rising Medical Costs

Much of the debt stems from hospital bills, researchers say. Even people with insurance are falling behind. But there are ways to get help.

Oct 23, 2026

HK stocks back up as Asian markets rally for most part

Asian shares were mostly higher Friday, rebounding from early losses, while oil prices hovered at their highest levels since May on worries about the war with Iran. In Hong Kong, the benchmark Hang Seng Index ended 158 points, or 0.7 percent, higher at 23,093 on turnover of HK$249.78 billion. The tech index was 77 points, or two percent, up at 3,871 while the China Enterprises Index gained 67 points, or 0.9 percent, to end at 7,756. Up north, the Shanghai Composite Index rose 32 points, or 0.89 percent, to close at 3,690 on turnover of 898.67 billion yuan. The Shenzhen Component Index shot up 316 points, or 2.79 percent, to close at 11,673 on turnover of 1.06 trillion yuan while the ChiNext Index soared 107 points, or 4.16 percent, to 2,684 on turnover of 534.48 billion yuan. In Tokyo, the Nikkei fell 214 points, or 0.34 percent, to end at 62,693 as the country's bonds surged and its currency touched a one-month high as heightening concerns about the AI sector spurred demand for haven assets. The broader Topix slipped 31 points, or 0.79 percent, to 3,965. In Seoul, the Kospi recovered from early losses of 4.12 percent to end up 16 points, or 0.3 percent, at 5,550 as chipmaker SK Hynix jumped after cancelling a share sale plan for its US unit. The mixed ending for regional markets came as Brent crude, the international standard, gained 1.1 percent to US$114.38 per barrel. US benchmark crude oil added 1.3 percent to US$100.79 per barrel. (Agencies) Edited by Aaron Tam

Oct 23, 2026

Apec finance chiefs' meet 'perfect prelude to summit'

Secretary for Financial Services and the Treasury Christopher Hui said on Friday the Apec Finance Ministers' Meeting that concluded in Hong Kong on Wednesday was the "perfect prelude" to the leaders' summit in Shenzhen next month. He told RTHK's Backchat programme that Hong Kong and Shenzhen have plenty of room to work together – making it a great opportunity to showcase both China's stabilising role and Hong Kong's part in driving regional cooperation. "Even though this is really a China Apec year this year, but at the same time, Hong Kong plays a critical role as an accelerator of regionalisation," Hui said. He pointed out the finance ministers' meeting was the last in a series of ministerial meetings before the leaders' summit and that a joint statement had been reached among delegates – a breakthrough in an increasingly divided geopolitical landscape. "So, it's indeed a very good occasion for us to showcase not just the China voice as a stabiliser but also Hong Kong's element as an accelerator of regionalisation in this increasingly divided world," Hui said. "Hong Kong, being part of Asia and at the same time a financial centre of Asia, needs to have a stable Asia." Delegates, Hui said, agreed to work more closely on fiscal and monetary policy coordination, digital infrastructure, green finance and talent cultivation. He also highlighted the need for inclusive policies to address income and wealth distribution risks arising from artificial intelligence and geopolitics. There is a "wide consensus" that AI is a double-edged sword, Hui pointed out, in its presenting opportunities alongside risks including cyber threats. He said Hong Kong has practical experiences to share, as many financial institutions in the city are already adopting AI across their value chains. "Hong Kong has a lot to share and offer in terms of how we do that and also find a fine line between regulation and also AI application," Hui said, adding the city has developed its own ecosystem for AI deployment in financial infrastructure. On gold trading, he said the subject came up in his bilateral meeting with Brunei's finance minister. Hong Kong, Hui stressed, aims to serve as an Asia hub linking international gold standards with regional liquidity. "Gold, as it is, is a global product, yet at the same time there is ever-stronger demand for such precious metals here in the region," he said. Reflecting on the organisation of the event, Hui credited his colleagues across government for their hard work, saying the effort had paid off. "I heard that some of the delegates are going to get married here in Hong Kong because they see Hong Kong as a very decent place, and they're going to spend their honeymoon here," he said, adding that the city's "charisma" had helped deliver a pleasing result for the country and the world. Edited by Aaron Tam

Oct 23, 2026

Chinalco sets up treasury centre in Hong Kong

Aluminum Corporation of China, known as Chinalco, has established a corporate treasury centre in Hong Kong to manage the state-owned giant's offshore funds, Invest Hong Kong announced on Friday. The new entity, Chinalco Treasury Management Co Ltd, will centrally manage the group's offshore funds and handle offshore financing, exchange rate and interest rate risk management, as well as integrated financial services. Director-General of Investment Promotion Alpha Lau said the move demonstrates Hong Kong's strengths as the first port of call for mainland firms going global and as a hub for corporate treasury centres. "As the world's largest offshore renminbi hub, Hong Kong can provide enterprises with cross-border renminbi settlement, multi-currency fund management and risk hedging capabilities," Lau said. She added that she hopes Chinalco will use the treasury centre as a starting point to further establish commodity trading functions in Hong Kong, combining the city's pricing, clearing, financing, and warehousing networks with the company's own industrial strengths to create synergy. Chinalco Chief Financial Officer Wang Xin said Hong Kong's foreign exchange market – the fourth largest in the world – together with its well-developed channels for renminbi financing and trade settlement, and its unique advantage of connecting to the mainland, will help the group manage its global funds in a more efficient and effective way. "In the future, Chinalco Treasury will build a fully functional offshore fund management platform for the group. All funds will be pooled, all settlement will be centralised and all risks will be controlled," she said. Founded in 2001, Chinalco is a key state-owned enterprise under the direct administration of the central government, with an industrial chain covering more than 20 non-ferrous metals. It has been on the Fortune Global 500 list every year since 2008 and operates in more than 20 countries and regions. Edited by Aaron Tam

Oct 23, 2026

HK bounces back as regionals continue to weaken

Mainland stocks extended losses on Friday, tracking broad weakness across global markets, as a selloff in tech shares on Wall Street weighed on investor sentiment. In Hong Kong, the benchmark Hang Seng Index rebounded back above 23,000 to open up 93 points, or 0.41 percent, at 23,027. The China Enterprises Index was 55 points, or 0.72 percent, higher at 7,744 while the tech index moved 19 points, or 0.51 percent, up to 3,813. Further north, the Shanghai Composite Index opened down 34 points, or 0.94 percent, at 3,623 while the blue-chip CSI300 index lost 1.1 percent. Both key mainland indices added to losses from the previous session, when the CSI300 posted its lowest close since July 2025 and the Shanghai benchmark ended at its weakest level in more than a year. The CSI300 index is now down more than 20 percent from its most recent closing peak on June 22, meeting some definitions for confirmation of a "bear market". By the most widely accepted definition of the term, it has been in one ever since a 2007 closing-level high. "Three converging forces: a deepening selloff in AI-related technology stocks, escalating Middle East tensions following deadly attacks on Saudi Aramco infrastructure, and intensifying stress in French sovereign debt markets, triggered a sharp risk-off rotation across global markets overnight," analysts at UOB said in a note. The Shenzhen Component Index opened down 169 points, or 1.49 percent, at 11,187 while the ChiNext Index opened down 42 points, or 1.66 percent, at 2,534. In Tokyo, the Nikkei opened 240 points, or 0.38 percent, lower at 62,667, plunged straight down after that to 61,528 and was 1,239 points in the red at one stage before noon. In Seoul, the Kospi opened 130 points, or 2.36 percent, down at 5,403, went into a short plunge and was 140 points lower at one stage before lunch. (Additional reporting by Reuters) Edited by Aaron Tam

Oct 23, 2026

Japan braces for rate hike as inflation accelerates

Inflation in Japan accelerated sharply in September, official data showed on Friday, rising above the Bank of Japan's (BoJ) target level and paving the way for a further interest rate hike. The acceleration was driven in particular by rising prices for processed foods against a backdrop of soaring energy costs owing to the conflict in the Middle East. Excluding volatile fresh produce, inflation was 2.1 percent, up from 1.7 percent in August, according to the internal affairs ministry reading. The figure was in line with market expectations and above the 2.0 percent target set by the central bank, further raising chances of an interest rate hike. "With underlying inflation back above the Bank of Japan's 2 percent target, the case for further tightening remains on solid ground," said Abhijit Surya of Capital Economics. "News reports suggest that the Bank may revise up its inflation forecasts at its October meeting. That should set the stage for another hike in December." The BoJ already raised interest rates in mid-September, in line with other major central banks around the world, in an effort to counter strong inflationary pressures driven by soaring energy prices triggered by the Iran war. A weak yen is also driving up the price of imported goods. Rents and automobile-related costs also contributed to inflation, the data showed. Surya, of Capital Economics, said rent inflation matched "its highest rate in nearly 25 years". But government support for petrol and electricity fees mitigated the impact on energy prices, according to the internal affairs ministry. Excluding both food and energy, inflation stood at 2.4 percent, above market expectations, following a figure of 1.9 percent in August. The government is trying to mitigate the impact of inflation on household purchasing power, notably with a massive stimulus package adopted at the end of 2025 and extensive tax breaks on energy. Japanese Prime Minister Sanae Takaichi's two predecessors were undone by anger over inflation. The government said it would slash consumption tax on food products from eight percent to one percent for two years, starting in April. However media reports said this will cost the government 10 trillion yen, or about US$63 billion, in lost tax revenues. Edited by Cecil Wong

Oct 23, 2026

US stocks fall as AI doubts ignite tech selloff

US stocks tumbled on Thursday and the Nasdaq posted its steepest daily drop since early June as a batch of high-profile earnings reports ignited fresh fears about the AI spending race. The S&P 500 ended deep in negative territory. But the tech-laden Nasdaq, dragged down by microchips, suffered a steeper loss, falling 2.6 percent in the wake of a spate of high-profile AI-related earnings results. The blue-chip Dow eked out a nominal gain minutes before the closing bell. Meta Platforms' results beat analyst expectations, but its stock slid 7 percent as the Facebook parent posted its first cash outflow in more than a decade due to its AI-related expenditures and announced plans to issue non-voting shares in a two-for-one split to raise capital to spend on the nascent technology. Tesla shares fell 3.1 percent even though the electric car maker unexpectedly posted positive free cash flow in the quarter and cut its 2026 capital spending plans. The Philadelphia SE Semiconductor Index, which has driven much of the current bull market's gains, plunged 6.7 percent, its biggest daily percentage drop since June 23. "It's a wonderful day on Wall Street," said Paul Nolte, senior wealth adviser & market strategist at Murphy & Sylvest in Elmhurst, Illinois. "The only part of the market that is really suffering here is technology, which has been the golden child of the markets up until about June." "Investors are starting to realise that there are some holes in the AI story," Nolte added. "And that's having an impact on the indices because they're so heavily weighted toward technology." On the geopolitical stage, Iran-backed Houthis launched new strikes against Saudi targets, sending crude prices to a five-month high. Investors worried that ongoing Middle East strife could keep inflation hot and force the US Federal Reserve to keep raising interest rates. Data from the US Labour Department showed initial claims for unemployment benefits kept drifting along near multi-decade lows. Signs of labour market stability will allow the Fed to focus on fighting inflation. Financial markets are currently pricing in the probability that the central bank will raise its policy rate by another 25 basis points before year-end. The Dow Jones Industrial Average rose 11 points, or 0.02 percent, to 52,867, the S&P 500 lost 93 points, or 1.2 percent, to 7,663 and the Nasdaq Composite lost 694 points, or 2.6 percent, to 26,008. Third-quarter earnings season is well underway, with 111 of the companies in the S&P 500 having reported. Of those, 83 percent have beaten analyst expectations, according to the most recent LSEG data. Procter & Gamble warned that rising cost pressures would take an increasing bite out of profit, but beat analyst estimates, sending the stock 5.6 percent higher and supporting consumer staples. Blackstone advanced 8.4 percent, after the company said widening credit spreads on AI-related debt could present an opportunity to lock in higher returns. Lockheed Martin climbed 7 percent after the aerospace/defence firm raised its annual sales and profit forecast. Spotify rose 11.1 percent after the Swedish music streaming firm forecast fourth-quarter profit above Wall Street estimates, betting on its AI-powered features to drive user growth. Chipmakers Intel, AMD, Sandisk and Marvell all tumbled more than 8 percent amid the broader semiconductor selloff. (Reuters) Edited by Cecil Wong

Oct 22, 2026

Employers Shift Rising Health Care Costs Onto Millions of Workers

New surveys show that increases in premiums and deductibles are forcing people to forgo treatments or doctor’s visits while budgets are strained by higher food and gas prices.

Oct 22, 2026

Melanoma Vaccine Ushers in New Hope for Cancer Patients

Oct 23, 2026

Featured News

Fearing Mass A.I. Layoffs, Some in Congress Eye Ways to Aid Workers

White House lifts tariffs on some Canadian goods as midterm elections loom

How does the UK state pension compare with other countries?

UK to invest £100m in 'world first' AI Biosecurity Lab

Before you crank up the thermostat, try these tips to keep your house warmer for longer

Latest News

France’s Avoids a Debt Downgrade From Moody’s, but Is Given a Warning

A Simple Way to Benefit From Rising Rates: Buy Money Market Funds

Ahead of Tight Race, Trump Swaps Tariffs on Some Canadian Goods

Global Oil Price Hits $116 a Barrel, Highest Since April

How Worried Should We Be About the Economy? Let’s Look at 2008.

Interesting Read

Melanoma Vaccine Ushers in New Hope for Cancer Patients

Why Anger About Data Centers and Energy Prices May Not Swing Votes

U.S. Government Takes a Cut of Chip Business in Japan-Funded Deal

A Fight Over Felon Voting Prompts a Free Speech Debate

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