The Briefing
Friday's ten-year came back to 5.00%, a day after this column had it at 4.939%, and Friday's sessions closed with Asia higher, Europe more than a per cent lower and New York a touch firmer. The dollar is stronger everywhere the desk can see it, the yen is at 157.89, and Tokyo's cash market is shut until Thursday. Five minutes from the Hong Kong desk.
Mainland investors moved HK$1.03 trillion of Hong Kong stock through Stock Connect in the first twelve sessions of this month and finished the stretch net buyers by HK$32.8 billion. HKEX's own daily files describe a market where the gross is vast, the net is thin, and the pace has come off August's.
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The Privy Council has made a protector's consent a decision on the merits rather than a legality check, and Guernsey has approved making reserved powers fiduciary by default. For a Hong Kong-law trust, the asset-protection question has moved from the deed's label to its drafting.
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The buyer's side of an auction is mostly fixed. The seller's side is negotiated, consignment by consignment, and it is the only part of the process with no published price list. What a minimum-price guarantee, an irrevocable bid and an enhanced hammer actually commit a consignor to.
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The benchmark land survey is the second of Japan's two official readings each year, published on 16 September with a 1 July valuation date. Tokyo's prime still rises in double digits — but the survey's own half-year data says the fastest six months are already behind it, and the money has moved to the redevelopment frontier.
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The remittance basis has been replaced by a framework that counts years of residence rather than a domicile, and it is now in its second tax year. What it asks of a family weighing a move: ten clean years before arrival, four years of relief after it, and a tail that follows you out.
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The published joining fee is the smallest number in the transaction. Behind the entrance fee and the debenture sits a lease with an expiry date — and fifteen of them run out at the end of this year.
September 15, 2026 · 5 min read
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September 7, 2026 · 4 min read
The ten-year is back above 5% at 5.02%, a touch further than the desk's own reading of 5.006%; US equities slipped a fraction while Europe and Asia closed firmer; crude has come off to around US$102 and gold to around US$4,263. Five minutes from the Hong Kong desk.
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