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2017 Second Quarter
FX tides to turn in 2Q
EUR to rise as USD loses steam
HKD set to rise
What does the future hold for Hong Kong’s
economy and property market?
01
Prestige Seminar
“Q3 Investment Outlook” Seminar
Investment Market View
FX tides to turn in 2Q EUR to rise as USD loses steam
04-05
Investment Market View
HKD set to rise
What does the future hold for Hong Kong’s economy and property market?
CONTENTS
02-03
06
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Acupressure for allergic rhinitis relief
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Invitation
“Q3 Investment Outlook” Seminar
The second quarter of 2017 sees rising political risk in European
markets add fuel to the fire of market uncertainty. Across the Atlantic,
the US trade policy orientation is set to impact Sino-US relations as
well as the global economy to an extent yet to be seen. In addition,
East Asian geopolitical tensions in recent times are inevitably
reshaping the investment landscape. How should investors prepare
themselves in the face of such a market condition?
Speakers:
Mr. Mark Wan
Chief Analyst
Hang Seng Investment Services Limited
Prestige Banking proudly presents the “Q3 Investment Outlook”
Seminar featuring Mr. Mark Wan, Chief Analyst, Hang Seng Investment
Services Limited and Mr. Chapman Wong, Managing Director,
AllianceBernstein Hong Kong Limited. The seminar will explore the
global market outlook and investment opportunities for the third
quarter of 2017, helping you to make sense of important market
intelligence for your investment planning.
Date
:
15 July 2017 (Saturday)
Time
:
2:00pm - 4:00pm
Venue
:
24/F, Penthouse, Hang Seng Bank,
83 Des Voeux Road Central
Language
:
Cantonese
Registration
:
To register, please call 2998 9188 on or before
12 June 2017 (9:00am - 9:00pm)
Mr. Chapman Wong
Managing Director
AllianceBernstein Hong Kong Limited
Seats are limited. Participants will be notified of the event details by SMS
message on or before 3 July 2017. Customers whose registration has
been unsuccessful will also be notified by SMS message.
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carefully read the offering documents and the Risk Disclosure Statement of the relevant investment products before making any investment
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• Prestige Signature customers can enjoy priority seating reservation • If response is overwhelmed, final attendance list will be selected
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head directly from your account • The Bank reserves the right to change the contents, date, time, venue, terms and conditions of the seminar
or to cancel the seminar • In case of disputes, the decision of the Bank shall be final • The information collected is for registration only • Each
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information provided in the seminar by the speakers and / or the companies which they represent.
Contingency Arrangements When Typhoon Signal No. 8 or Black Rain Storm Signal is Hoisted
Attention: If Typhoon Signal No. 8/ Black Rain Storm Signal is hoisted on the seminar day, but is lowered at or before 9:00am, the seminar will
take place as scheduled. If the relevant signal is lowered after 9:00am, the seminar will be cancelled.
Investment Market View
Mr Mark Wan
Chief Analyst
Hang Seng Investment Services Ltd
FX tides to turn in 2Q
EUR to rise as USD loses steam
The US dollar rules the roost in the foreign exchange market in recent years. Hot
on the heels of Donald Trump’s triumph in the US presidential election late last
year, the US Dollar Index (USDX), which is a measure of the value of the dollar
relative to a basket of foreign currencies, soared to a 14-year high. The market
expects the US Federal Reserve to speed up its rate hike pace and predicts that the
strong dollar will keep up the momentum. Mark Wan, Chief Analyst at Hang Seng
Investment Services Limited, however, goes against the grain. He believes that the
USD will weaken and the euro’s performance is set to surprise.
am aware that the majority is
bullish on the US dollar and
bearish on the euro. On the
surface, this makes sense. When
it comes to monetary policy, the US
Federal Reserve has raised interest rates
three times since the end of 2015. A few
more hikes are likely for this year. In the
meantime, the European Central Bank
(ECB) is still on quantitative easing and
“I
02
negative interest rates. On the political
side of things, the Dutch election
was held in the middle of March. The
market heaves a huge sigh of relief
that the anti-EU, far-right Freedom
Party has failed to become the largest
party in the parliament. But, with the
French and German elections in the
2017 pipeline, countries cross Europe
are still shrouded in an extreme anti-
immigrant atmosphere. Should any of
the major EU countries leave the bloc,
chances are that the euro may tumble.
Conversely, the US political situation is
comparatively stable with the dust now
settled from the presidential election.
As regards the economy, European’s
performance has been far from ideal
whereas the US reigns supreme,” Wan
notes.
By: Cally Lam
European economic recovery
faster than expected
If Europe already lags behind the US
regarding such factors as monetary
policy, political situation and economic
fundamentals, how did Wan come up
with such distinctive opinions at a time
like this?
“The reason is that variables are likely
to emerge from three factors, namely
monetary policy, political situation and
economic fundamentals. First of all, I
am sceptical of the US Federal Reserve’s
ability to raise the US interest rate three
times this year. The US inflation rate may
have come to 2.7% for the 12 months
ended February 2017 but the overall US
economy is not as rosy as one may have
imagined. The country posted a 2016
GDP growth of 1.6%, which was behind
2015’s 2.6% and also the lowest since
2011. There may be two to three rate
rises but four hikes are unlikely.”
“Meanwhile, ECB officials have divulged
of late that an interest rate increase
before the end of its bond purchase
programme cannot be ruled out. Such a
claim was based on the speedy recovery
of the European economy. The once
deflation-threatened region in February
this year has already reached the ECB’s
inflation target of 2%, which was the
highest since 2013. Unemployment
also plays a part in this. Currently, the
EU has an average unemployment rate
of 9.6%, which may seem rather high.
However, high unemployment is very
much a norm in Europe. The current
figure is only the level recorded before
the European debt crisis. Further, the
Purchasing Managers’ Index, which
serves as a gauge of economic activities,
rose to a six years’ high of 56 in February.
This demonstrates that the European
economy is steadily getting back on
track.”
USDX to fall below 100 sooner
or later
The European economy still has some
room for improvement, notes Wan,
but the political outlook for Europe is
not that grim. “In the Dutch election
in March, Geert Wilders clinched only
20 seats and failed to lead the Freedom
Party to become the largest party in
parliament. Meanwhile, incumbent
centre-Right Dutch Prime Minister
Mark Rutte won 33 seats, curbing the
European right-wing’s populism and
dampening the chance for France’s
far-right National Front party leader
Marine Le Pen’s win in the French
election.”
Aside from this, currency valuation holds
another key. Wan explains, “The euro
slid to a 14-year low against the dollar
earlier. Its exchange rate hit an all time
low. Any favourable factor can do to
boost the euro towards a rebound at 1.1
against the dollar.” As for the greenback,
the USDX, which is a measure of the
value of the dollar relative to a basket of
foreign currencies, hovers above 100 in
recent times. “The new US government
does not encourage a strong dollar,”
Wan points out. “It is only a matter of
time for the USDX to fall below 100. The
dollar will find the next support at a
level of 99.5. Anything below that would
mean a retreat to a 1997 level.”
Euro opportunities and risks
Regardless of the various favourable
factors, Wan cautions, an upturn for
the euro to a large extent hinges on
two attributes. “Firstly, Le Pen’s win may
overturn this hypothesis. Secondly,
launch of Trump’s USD1-trillion
infrastructure plan and corporate tax
slash from 35% to 15% will add fuel to
the US economy, putting increased
pressure on the US Federal Reserve to
raise interest rates. Whether he will get
the US Congress’s buy-in on his ideas
remains a question.”
Last but not least, Wan stresses, it would
be too late for wait-and-see investors
to buy the euro after the dust settled
on the currency. “The euro does not
wait for the French election results. The
market will react to opinion polls and
election forecast. On the other hand,
investors looking to buy now should
realise that the euro may tumble further
if there are any issues arising from the
election. It would be wise for investors
to remain watchful and weigh the risks
and opportunities brought forth by the
euro.”
The above information is quoted as of 20 March 2017.
Remarks: Investment involves risks, value of
investment products may move up or down, and
may become valueless. Past performance figures
shown are not indicative of future performance. The
relevant investment product’s offering documents
and risk disclosure statements should be read in
detail before making any investment decision.
Keep your finger on the market’s pulse! Please visit Hang Seng Investment Corner at
hangseng.com/investmentcorner for the latest market information and analyses.
03
Investment Market View
HKD set to rise
What does the future hold for
Hong Kong’s economy and property market?
The USD-pegged HKD is standing out from other Asian currencies as it picks
up in pace of the dollar’s recent bout of strength. How will the rising HKD affect
the local property market and the city’s economy? Would it be bad news for
Hong Kong’s economy if its currency continues to gain strength? What is likely
to happen if the US turns to trade protectionism? Billy Mak, Associate Professor,
Department of Finance and Decision Sciences, School of Business, Hong Kong
Baptist University, sheds light on these issues.
T
he US Dollar Index (USDX),
which is a measure of the value
of the dollar relative to a basket
of foreign currencies, soared to 103.82
at the end of 2016 from last May’s 92.626
low. It retreated moderately to 101.09
in March this year but the rise of 9.1%
from May 2016 to March 2017 remains
alarming.
Strong HKD unfavourable to
tourism
Hong Kong maintains a linked exchange
rate system. The city’s monetary system
dances to the tune of the US without the
power of an interest rate tweak. In recent
years, the HKD has been following the
dollar’s upward trajectory. How will this
affect the Hong Kong economy?
04
“The USDX has been hovering above
100 in recent times. How much room
is there for further increases? An
analysis claims that the index will peak
somewhere between 108 and 110. In
fact, the dollar has been gaining steam
for years. The impact of the currency’s
strength has emerged in a gradual pace
over the last couple of years with the
tourism and export industries taking
the brunt. But, the market has digested
the impact for some time now. As such,
Hong Kong’s 2017 economic growth
is expected to outshine last year’s
performance. Growth of the economy
may not be impressive but there is
no need for pessimism,” says Billy
Mak, associate professor, Department
of Finance and Decision Sciences,
School of Business, Hong Kong Baptist
University.
“Rising travel expenses may lead tourists
to choose other Asian cities over Hong
Kong,” Mak continues. He emphasises
however that the city’s issues in tourism
cannot be a result of the strong HKD
alone. The local tourism industry, he
comments, has over the years been
cashing in on the influx of mainland
Chinese tourists. This over-reliance has
driven Hong Kong merchandises and
services towards homogenisation.
“Hong Kong’s uniqueness lies in its
internationalism. Why should tourists
choose to visit Hong Kong if the city’s
attributes are gradually assimilated into
By: Cally Lam
those of other Chinese cities? Fortunately,
the tourism industry has in recent years
begun to seek new ways to attract
overseas tourists. For instance, the hotel
industry is providing tourists with offers
and discounts galore in addition to early
bird specials. The Hong Kong Tourism
Board has also joined hands with the
industry for marketing and promotion to
lure non-mainland tourists.”
Trump to go soft on China
Meanwhile, the strong HKD is by no
means more favourable to Hong Kong’s
export trade, Mak notes. He points out
that Hong Kong’s exports are primarily
quoted in USD. For this reason, a
strengthening USD will dampen the
city’s export competitiveness. “The
market is worried that US president
Donald Trump’s trade policy would be
unfavourable to China but it seems
that Trump is taking an approach more
down to earth than expected. During
his election campaign, for instance, he
has vowed to name China a currency
manipulator. This never reappeared on
his agenda since he took office.”
Trump’s attitude towards China was
rather hostile. As he took office, however
he has possibly taking his advisors’ advice
and realised that acting against China
will not reap good results, Mak explains.
“If the US put its foot down and imposed
high tariffs on Chinese imports, it would
invite China’s revenge. The result would
be mutually detrimental. In view of this,
Trump appears to be softening his stance
on China.”
“Spicy measures” distort
property market
Turning to the property market, the
HKD’s continuous strength in addition
to the US Federal Reserve’s quickened
pace with three possible interest rate
hikes on the 2017 horizon have yet to
produce cooling signs for the Hong
Kong property market. How come? The
Centa-City Leading Index, which reveals
the trends of Hong Kong second-hand
property prices, reached consecutive
highs. This, as Mak points out, has to do
with the fact that Hong Kong is an open
economic system.
“If the sale of Hong Kong’s residential
properties is restricted to local people,
the market direction would be much
clearer. This is because it would be
easier to map the property market’s
trend by measuring local residents’
affordability. However, the reality is that
overseas and mainland buyers constitute
a major power in the Hong Kong
property market. In view of the RMB’s
depreciation in recent years, mainland
investors may turn to purchasing HKD
assets, including properties and stocks,
as a means to hedging against foreign
currency risks. For instance, a Chinese
property developer recently paid
premiums for a residential plot in Hong
Kong. Such developers are as well aware
of Hong Kong residents’ affordability
as their eyes are keen on Hong Kong’s
status as an open economic system
filled with a certain number of wealthy
buyers from mainland China and
abroad.” In February this year, two major
mainland developers joined forces and
successfully bidder for the Lee Nam
Road residential plot in Ap Lei Chau for
a price in excess of HKD168 billion. The
land premium per square foot of floor
space came to about HKD22,110, setting
a record as Hong Kong’s new prime
building land.
Mak adds that the thin volume of
property transactions also contributes
to the soaring property market in Hong
Kong. “The Hong Kong government
has rolled out waves of ‘spicy measures’
to curb property speculation, causing
the volume of short-term speculative
property transactions to plunge. In the
meantime, many Hong Kong families
have already paid off their mortgages.
Their strong holding power means that
they could choose to stay put or lease
out their properties should the prices
fall short of their expectations. As such,
the sale and buy sides in the secondhand market have both remained in
the current state of idleness. Property
owners are in no hurry to sell. Prices
are therefore holding steady at a high.”
The Census and Statistics Department
in February this year released the
Summary Results of the 2016 Population
By-census. Statistics regarding owneroccupancy and mortgages revealed that
there were about 1.22 million families
owned and occupied their properties
Mr. Billy Mak,
Associate Professor,
Department of Finance and Decision
Sciences, School of Business,
Hong Kong Baptist University
in 2016. Of these, about two thirds have
paid off their mortgages. In other words,
they are free of any mortgage payment
or loan repayment.
“Meanwhile, property developers
provide myriad offers and shower
buyers with multiple discounts and
rebates on new property prices in
response to the ‘spicy measures’. This
does not produce a full picture of the
actual transacted prices,” Mak points
out, adding that such “spicy measures”
as new tax rates distorted the actual
market operations to a certain extent.
In all, Mak believes that the strong
HKD will inevitable hit Hong Kong’s
tourism and exports. However, industry
players have already come up with
countermeasures. Trump has also
changed his tone towards China. A
trade war between the US and China is
unlikely. By and large, Hong Kong’s 2017
economic growth is expected to outrun
last year’s, investors can rest easy.
The above information is quoted as of 7 March 2017.
Remarks: The views as expressed in the above
article represent the personal views or opinions
of the author and the opinions contained herein
are for reference only. The above article is not and
should not be considered as a recommendation,
offer or solicitation to deal in any of the investment
products mentioned herein. Investment involves
risks. Value of investments can go down and as well
as up, and may become valueless. Past performance
is not necessary indicative of future performance.
Investors should refer to the offering documents
and risk disclosure documents of the relevant
investment products in detail before making any
investment decision.
05
Health Channel
Acupressure for allergic rhinitis relief
Fluctuating temperatures during spring to summer shift can trigger
symptoms of allergic rhinitis, which can affect sleep quality in some
severe cases. Kevin Wong Kim-fung, registered Chinese Medicine
Practitioner at Sheung Sin Tong Chinese Medical Clinic shares
everyday tips for diet and fitness to reduce the risk for allergies. Wong
also recommends four simple acupressure routines for alleviating
allergic reactions such as headache and nasal congestion, keeping you
invigorated every day.
Lung and spleen deficiency the
usual suspect
watermelon, mung beans,
pear and banana as well as
fried foods. Spleen-boosting
medicinal plants such as
Mongolian milk vetch
(astragalus membranaceus),
Chinese yam (Dioscorea
polystachya), qi- and bloodtonifying Chinese red dates
and kidney-nourishing
beans like hyacinth beans
and black beans are
recommended.”
Watery eyes, headache and a runny,
stuffy or itchy nose are common
symptoms of allergic rhinitis. “Allergic
rhinitis is triggered typically by a weak
body with low resistance power,
Wong explains. Some sufferers may
d e ve l o p s y m p t o m s o f l u n g a n d
spleen deficiency such as shortness
of breath, hypodynamia, white furry
tongue, indigestion, loss of appetite
and diarrhoea, causing changes in the
function of the kidneys in the long run.”
Immunity boost vitally
important
Cardio exercises including running
and swimming can improve symptoms
of allergic rhinitis, but it is equally
important to maintain an optimal body
temperature by dressing appropriately
for the weather. This helps to prevent
wind-cold flu, which increases the risk
of triggering allergic rhinitis responses.
“Mind what you eat and stay away from
cold-natured food and beverage items
such as iced tea, soft drink and icecream,” Wong cautions. “Go easy on
such cold-natured foods as bitter melon,
Four acupressure points to
boost body functions and
clear a stuffy nose
Wong suggests that a five-minute
massage on the below four
acupressure points every morning
and in the evening or during allergy
attacks can ease the symptoms of
allergic rhinitis. Keeping a routine
can also help achieve preventive
results.
Registered Chinese
Medicine Practitioner
Kevin Wong Kim-fung says
that a healthy diet and
frequent cardio workouts
can improve body
resistance to the risk of
allergic rhinitis reactions
Lung and spleen depletion is the major culprit
of allergic rhinitis which causes watery eyes,
headache and a runny, stuffy or itchy nose
To reduce the symptoms
of allergic rhinitis, Wong
emphasises, it is most important to
keep the immune system revved up.
“Decreased lung, spleen and kidney
functions leave the body at risk of
attacks of such allergens as dust mites
and changes in temperature and
humidity. With a low resistance power,
alterations in immune system functions
kick in. Post-nasal-drip and sneezing are
the body’s ways of getting rid of external
irritants and viruses but decreased
resistance can trigger hypersensitive
nasal allergy reactions. When that
happens, even low-irritating dust
particles or mild changes in temperature
can come down as an invasion and
cause rhinorrhoea and sneezing.
Conversely, while a strong body can
keep such allergens away.”
1
Yingxiang Beside the wing of the nose - to clear a stuffy nose,
use the basal joints or rub the Yuji acupressure
point (right image), press and rub the Yingxiang
acupressure point continuously in an upward
direction until warm
2
Yintang
3
Shangxing Half an inch above the mid-anterior hairline
- a gentle rub with the fingers can reduce the
symptoms of allergic rhinitis
4
Zusanli
Midway between the medial ends of the two
eyebrows - a gentle rub with the fingers can also
help clear a stuffy nose
Yuji
3
2
1
06
On the outer calves three inches below the knees
(right image)- apply pressure with finger joints can
strengthen body functions and boost immunity
Zusanli
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position and investment objectives. • Renminbi (“RMB”) is subject to foreign exchange control by the PRC government. If your FX2 Trading Contract involves offshore
RMB, you will be subject to foreign control and currency risks of RMB. • Investment involves risks. The above risk disclosure cannot disclose all the risks involved. You
should read and understand all the relevant documents and risk disclosure (in particular, the Risk Disclosure Statement contained in the relevant application form)
before making any investment decision. • The contents of this material have not been reviewed by any regulatory authority in Hong Kong. You are advised to exercise
caution in relation to thismaterial. If you are uncertain of or do not understand the nature of and the risks involved in foreign exchange and precious metal trading, you
should seek independent professional advice.
07
Exchange foreign currencies online
A chance to win 2 round-trip flight tickets to Tokyo
C
ustomers who exchange foreign currency via Hang Seng Personal e-Banking
or Hang Seng Personal Banking mobile app within Promotion Period can enjoy
the following fabulous offer:
A lucky draw chance to win 2 round-trip flight tickets to Tokyo for every
online foreign currency exchange transaction at or over HKD5,000! No
registration is required, no cap to the number of the lucky draw entries!
How to exchange foreign currencies for traveling in a smart way?
1
Step
Logon Hang Seng e-Banking and upon buying
foreign currency at your desired rate, the TT
exchange rate will be automatically applied
Act Now!
Enquiry: 2822 8233
2
Step
Withdraw foreign currency notes from your
foreign currency account at our branches
when needed and enjoy your trip
hangseng.com/forex
Remarks: The Promotion Period is from 1 April 2017 to 30 June 2017 (“Promotion Period”). Terms and conditions apply. For details, please visit hangseng.com/forex, or
contact the staff of Hang Seng Bank Limited (the “Bank”). The Bank reserves the right to suspend, revise or terminate this promotion and the above related offer at any
time and to amend the terms and conditions thereof from time to time without prior notice.
RMB Currency Risk: Renminbi ("RMB") is subject to exchange rate risk. Fluctuation in the exchange rate of RMB may result in losses in the event that the customer
subsequently converts RMB into another currency (including Hong Kong Dollars). Exchange controls imposed by the relevant authorities may also adversely affect the
applicable exchange rate. RMB is currently not freely convertible and conversion of RMB may be subject to certain policy, regulatory requirements and/or restrictions
(which are subject to changes from time to time without notice). The actual conversion arrangement will depend on the policy, regulatory requirements and/or
restrictions prevailing at the relevant time.
Currency Risk: Foreign Exchange involves Exchange Rate Risk. Fluctuations in the exchange rate of a foreign currency may result in gains or losses in the event that the
customer converts HKD to foreign currency or vice versa.
Investment involves risks. Prices of investment products may go up or down and may become valueless. Past performance of investment products may not be indicative of
future performance. Investors should not only base on this marketing material alone to make any investment decision, but should read the relevant investment product's
offering documents and Risk Disclosure Statements in detail before making any investment decision.
Provide you with quality medical cover
W
e understand that health and wealth are equally important, which is
why we have brought you Hang Seng Bupa PreciousHealth Series –
Excel Health Insurance Scheme. The Scheme provides you with quality
medical protection with cover for hospital and surgical expenses, safeguarding
the health of you and your family. The product features are as follows:
• Less than HK$10 per day to enjoy up to HK$4 million medical protection
• Apply with your family members to share an additional benefit of up to HK$2
million
• Receive cashless treatment at hospitals with a medical card without the hassle
of making payment or claims
• Cover certain pre-existing conditions with additional subscription
• The HealthPro Concierge Service provides professional healthcare support
and assistance
Online exclusive offers: From now till 31 May 2017, you can enjoy
HK$600 GigaSports cash coupon upon successful online application
of Excel Health Insurance Scheme via Hang Seng Bank website.
Apply Now!
Phone Application: 2998 9886
hangseng.com/medicaloffer
Remarks: Terms and conditions apply, please visit hangseng.com/medicaloffer for details.
The above information is a product summary of information for reference only. Please refer to the promotion leaflet/flyer and contract for the detailed coverage,
exact terms and conditions and exclusions of the relevant health Insurance Schemes. The schemes are underwritten by Bupa (Asia) Limited (“Bupa”) which is
authorized and regulated by the Commissioner of Insurance of the HKSAR. Hang Seng Bank Limited (the “Bank”) is an insurance agent authorised by Bupa for the
exclusive distribution of the above schemes. Subscription will be payable to Bupa upon enrolment of Relevant Schemes. Bupa would provide the Bank the relevant
commission and performance bonus in accordance to the selling of Relevant Schemes. The existing sales staff remuneration policy offered by the Bank would take
into account various aspects of the staff performance but not solely on the sales amount. In respect of an eligible dispute arising between the the Bank and the
customer out of the selling process or processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with
the customer; however any dispute over the contractual terms or performance (claims and service) of the product should be resolved directly between Bupa and the
customer. HealthPro Concierge Service is provided by Bupa.
08
Prestige Corner
New perspective for wealth accumulation
with safeguarding future
I
n order to enhance the potential
return and protection, a brand new
annuity product “FutureEnrich”
launched in late 2016. Inflation
counteracting elements are embedded
in the design of the product, providing
Guaranteed Monthly Income which
grows by 3% per annum, plus nonguaranteed annual dividends and a
lump-sum of non-guaranteed terminal
dividend bolstering potential returns.
Unemployment benefit, accidental
death benefit and terminal illness benefit
are embedded to enhance protection.
Optional supplemental benefit includes
cancer benefit, premium waiver benefit
and payor’s benefit. Different policy
terms, payment and income period, are
offered to suit needs in different life
stages. Beneficiary may opt to withdraw
the Guaranteed Monthly Income until
the end of Income Period for a stable
source of income; or accumulate in
policy account to earn interest until the
end of Income Period for a potential
growth to realize future planning.
and planning for future together. Hang
Seng Insurance was again awarded
Hong Kong Business Magazine’s “Hong
Kong Business High Flyers Outstanding
Enterprise 2016 – Outstanding Insurance
Company” award in January 2017.
Under the wealth-and-health proposition,
Hang Seng Insurance has been widely
recognized that always strives to design
innovative insurance products meeting
the protection needs of customers
Miss Libra Chan,
Head of Life Insurance & Retail Banking and
Wealth Management Insurance Strategy,
represented Hang Seng Insurance
to receive the award from the organizer
From now till 30 June 2017, Prestige Banking customers can enjoy up to 5%
premium discount in the first policy year (up to 8% for Prestige Signature
customers).
For details, please contact our branch staff at 2198 7838!
Remarks: Eligible Customers who successfully enrolled in designated Life Insurance Plans during the period from 1 October 2016 to 31 December 2016 with the
annualized premium reaching certain amount can enjoy the premium discount in the first policy year. Terms and conditions apply. For details, please contact
Hang Seng Bank Limited (the “Bank”) branch staff or refer to relevant flyer.
The Life Insurance Plans mentioned in this leaflet are underwritten by Hang Seng Insurance Company Limited (“Hang Seng Insurance”).The underwriter is authorized
and regulated by the Commissioner of Insurance of the HKSAR. The Bank is an insurance agent authorized by Hang Seng Insurance and the insurance products are
products of Hang Seng Insurance but not the Bank. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre
in relation to the Financial Dispute Resolution Scheme) arising between the Bank and you out of the selling process or processing of the related insurance product
transaction, the Bank will enter into a Financial Dispute Resolution Scheme process with you; however any dispute over the contractual terms of the insurance
products should be resolved between Hang Seng Insurance and you directly.
The above information is intended as a general summary of information and is for reference only. Please refer to the actual policy for the exact contents, terms,
conditions and exclusions of the relevant plans.
Home Care Plus Home Insurance Plan
Perpetual 20% premium discount
W
ith Home Care Plus Home Insurance
Plan, you can enjoy premium as low
as $92 per month with key coverage
includes up to $1 million household contents
coverage and $5 million worldwide personal
liability benefit, coverage also includes loss of
rent, temporary accommodation and losses
caused by unauthorised use of Hang Seng
Credit Card.
Fabulous Offers: Upon successful
application of the Home Care Plus
Home Insurance Plan from now till
31 May 2017, you can enjoy perpetual
20% premium discount and 1-month
premium wavier in the first policy year.
Customers will be rewarded up to 50x
Cash Dollars or $300 Cash Rebates.
Act now and submit online application with great convenience!
24-hour Application Hotline: 2998 9888 hangseng.com/home
Remarks: Terms and conditions apply, please visit hangseng.com/home for details.
The above information is intended as a general summary of information and is for reference only. Please refer to the relevant leaflet or factsheet for exact and
detailed contents, terms, conditions and exclusions of the product plans, and the policy of the respective plans will be considered as final.
Disclosure of Information: The Home Care Plus Home Insurance Plan (this “Plan”) is underwritten by QBE General Insurance (Hong Kong) Limited (“QBE”) which
is authorised and regulated by the Commissioner of Insurance of the HKSAR. Hang Seng Bank Limited (the “Bank”) is an insurance agent authorised by QBE for
the distribution of this Plan. Premiums will be payable to QBE upon application of this Plan. QBE would provide the Bank commission and performance bonus
accordingly in respect of the selling of this Plan. The existing staff remuneration policy on sales offered by the Bank takes into account various aspects of the staff
performance instead of focusing solely on the sales amount. In respect of an eligible dispute arising between the bank and the customer out of the selling process or
processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer; however any dispute over
the contractual terms of the product should be resolved between directly QBE and the customer.
The above information is a product summary for reference only. Please refer to the contract for detailed coverage, exclusions, terms and conditions. In the event of
any discrepancy in respect of the meaning between the Chinese version and the English version, the English version shall prevail.
09
Prestige Privileges
Hang Seng Prestige World Mastercard
Presents exceptional travel rewards & privileges
H
ang Seng Prestige World Mastercard presents an array of exceptional
travel rewards and privileges especially for travel lovers like you. From trip
planning to worldwide excursion, every step of your journey awaits you with
surprises and delights.
(1)
Travel Wow Reward
at any Hong Kong Travel
Agency / Travel Website
Exclusively Earn
From 1 April to 31 May 2017, spend with your Hang Seng Prestige World Mastercard
at any Hong Kong travel agency(2) / travel website(2) to earn
15x Cash Dollars for a single net spending of HK$6,000 upon registration!
Registration Hotline: 2998 6000 (Press “2” after language selection)
15% Instant Discount at Hotels.com(3)
Fabulous Travel Privileges(4)
• From now till 30 Sep 2017, enjoy additional 15% instant
discount on selected hotels worldwide for your stays
before 31 Dec 2017 at www.hotels.com/hase-hk with
Hang Seng Prestige World Mastercard by entering
Coupon Code “HASE15”!
• Free upgrade to gold membership with Starwood
Preferred Guest® to enjoy room upgrade and late
check-out privileges at over 1,000 renowned hotels like
Sheraton® and W® Hotels, plus 20% off at participating
Starwood Hotels & Resorts.
Hang Seng Mastercard® Credit Card hotel booking
designated website: www.hotels.com/hase-hk
• Enjoy complimentary breakfast, room upgrade and late
check-out ( 5) privileges at Raffles Hotels & Resorts and
Fairmont Hotels & Resorts worldwide.
• Enjoy complimentary Hertz Gold Plus Rewards
membership, 10% discount and free car upgrade
privileges.
Apply now to enjoy the privileges and services of Prestige World Mastercard.
24-hour Customer Service Hotline 2998 8111 hangseng.com/psewmc
Remarks: (1) Travel Wow Reward is subject to the relevant terms and conditions, please visit hangseng.com/travelpromo for details. (2) Not applicable to transactions made at
airlines and travel agencies / booking websites operated by airlines. (3) Terms and Conditions apply. For details, please visit hangseng.com/promotion3. (4) Terms and Conditions
apply. For details, please visit www.mastercard.com.hk/world. (5) The room upgrade and late checkout privileges are subject to availability.
To borrow or not to borrow? Borrow only if you can repay!
10