Venus Feng

Hong Kong

Wealth Reporter at Bloomberg News

Write about billionaires and @wealth for @business. Foodie, iOS fan, and @JMSCHKU alum. Views are my own.

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Articles

Hong Kong Stumbles in Efforts to Lure Global Stars as Ticket Debacles Mount

1 week ago | bloomberg.com | Richard Frost |Venus Feng |Samson Ellis |Balazs Penz

In this week’s event-full Hong Kong Edition, we dive into why the city’s struggle with its ticketing system for events is causing trouble for fans, preview Manchester United’s upcoming game at the old stadium and interview two visiting circus stars. We also check out a new French restaurant on Bridges Street. To subscribe to this weekly newsletter for free, click here.
Hong Kong Stumbles in Efforts to Lure Stars as Ticket Debacles Mount

1 week ago | flipboard.com | Richard Frost |Venus Feng |Samson Ellis |Balazs Penz

2 hours agoThe secretary of state said those whose visas could be revoked included people with connections to the Chinese Communist Party or studying in critical fields. HONG KONG — The United States will start “aggressively” revoking the visas of Chinese students, Secretary of State Marco Rubio said …
Hong Kong Property Tycoon Fetches $9.3 Million in Wine Auction

2 weeks ago | bloomberg.com | Venus Feng

Joseph Lau Photographer: Paul Yeung/Bloomberg(Bloomberg) -- Hong Kong businessman Joseph Lau sold a collection of fine wine for HK$72.9 million ($9.3 million) in an auction, fetching more than $41,000 a bottle for some rare French vintages. All of the wine lots sold, and the amount raised exceeded the $4.5 million estimate from Christie’s, according to a statement Thursday from the auction house.
Hong Kong’s Rich Families Sell Their Own Dwellings to Cut Debt

2 weeks ago | bloomberg.com | Venus Feng |Trista Xinyi Luo

The sea-view villa at 188 Victoria Road in Hong Kong. (Bloomberg) -- Hong Kong’s rich families are learning about the unpredictability of market downturns. Now some have to sell the homes they live in to cut debt. This week, a sea-view villa previously owned by wealthy businessman Chan Ping Che was listed by receivers for HK$430 million ($55 million).
Hong Kong’s Rich Families Sell Their Own Dwellings to Cut Debt

2 weeks ago | flipboard.com | Venus Feng |Trista Xinyi Luo

12 hours agoPresident Donald Trump and American retail giant Walmart are trading stern words this week over the impact of the administration’s tariffs, after the company’s announcement of impending price hikes drew ire from the Republican leader. Trump blasted the company on social media last weekend, accusing …
Top Hong Kong Builder Saw Weekend Sales Frenzy

2 weeks ago | bloomberg.com | Venus Feng

(Bloomberg) -- Hong Kong’s biggest property developer Sun Hung Kai Properties Ltd. sold another 376 flats on Sunday after receiving more than 34,000 bids, becoming one of the most sought after projects in months thanks to low interest rates. The new round of sales at Sun Hung Kai’s Sierra Sea in the Ma On Shan area comes days after a quick sellout of its first batch earlier last week. The flats sold at about HK$9,645 ($1,233) to HK$13,500 per square feet.
Timing Not Right for China Home-Sales Overhaul: State Media

2 weeks ago | bloomberg.com | Venus Feng

(Bloomberg) -- The timing for a nationwide housing market reform that would only allow developers to sell completed properties is “not mature,” according to China Real Estate Business, an outlet managed by China’s Ministry of Housing and Urban-Rural Development.
Hong Kong Tycoon Lau Selling $4.5 Million Wine Collection

3 weeks ago | bloomberg.com | Venus Feng

Domaine de la Romanee-Conti(Bloomberg) -- Hong Kong billionaire Joseph Lau is selling another wine collection with an estimated value exceeding HK$35 million ($4.5 million) in an auction by Christie’s next week. Lau is offering more than 200 lots of fine wine, including rarities from revered producer Henri Jayer, vintages from Petrus and selections from Domaine de la Romanee-Conti, as part of Christie’s Hong Kong Luxury Week.
Hong Kong Property May Bottom as Borrowing Costs Drop, Jefferies Says

4 weeks ago | bloomberg.com | Venus Feng |Charlotte Yang

A real agent agent inside a property agency in the Wan Chai area of Hong Kong. (Bloomberg) -- Declining interest rates in Hong Kong are increasing the chances the residential property market bottoms out, according to Jefferies. The one-month Hong Kong Interbank Offered Rate has plunged 205 basis points in the past four days, potentially bringing relief for a market hammered by high interest rates and slumping prices.
Hong Kong Mansions at 1 Plantation Road on Peak to Test Luxury Property Market

1 month ago | bloomberg.com | Venus Feng

When fear grips the markets and it looks like there’s nowhere to hide, luxury property might be an enticing investment option for the ultra rich. One of Hong Kong’s most prestigious developers is testing whether that holds true even in a city that’s been struggling with a property downturn for years. The proof of concept is a clutch of new mansions on a historic site — at one of the world’s swankiest addresses.