Hong Kong’s economy expanded at its fastest pace in nearly five years in the first quarter of 2026, underscoring the strength of its recovery even as the outbreak of war in the Middle East clouds the outlook for growth and inflation across Asia, the Wall Street Journal reported. Advance data, marking the first economic print since the war broke out, showed that the city’s gross domestic product rose 5.9% in January-March period from a year earlier.
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PwC, one of the world's biggest accounting firms, is paying HK$1.3 billion ($166 million) in fines and compensation in Hong Kong over its audit work for the failed Chinese property developer Evergrande, which was said to have overstated revenues, the Associated Press reported. Hong Kong's accounting regulator on Thursday also announced a six-month ban on PwC from working for new clients and said it had issued a public reprimand to two of its former partners for misconduct, fining each of them a separate HK$5 million.
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Private home prices in Hong Kong rose 0.5% in January, the eighth consecutive month of increase, strengthening signs of a housing recovery as analysts forecast prices to jump at least 10% this year, Reuters reported. Home prices edged higher in January from December on improved economic sentiment, Rating and Valuation Department data showed on Wednesday, following a revised 0.4% increase in December. Residential prices in Hong Kong, among the world's least affordable cities, climbed 3.7% in 2025, the first increase since they peaked in 2021.
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