City Hong Kong Financial News

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Subscribe to enjoy similar stories.“We are thinking of moving to Dubai. Know any good brokers?” That question used to pop up regularly in 2025 on cross-Arabian Sea phone calls to residents of the city-state from India.

The Indian rupee lost 10% against the US dollar in 2025-26, making it one of the worst performances in emerging markets. March alone saw a 4.24% drop, the steepest in any single month in six years, with the rupee briefly breaching the 95 level against the dollar. To defend the currency, the Reserve bank of India (RBI) sold dollars heavily from its reserves, which fell by $30.5 billion in March.

Subscribe to enjoy similar stories. HONG KONG—In his two decades at Silicon Valley venture-capital titan Sequoia, Neil Shen made billions by identifying and investing in every major tech company to emerge in China. Now, the Chinese billionaire is betting big on artificial intelligence, using American capital to fund Chinese firms competing in the global AI race.

Subscribe to enjoy similar stories. HONG KONG—A Hong Kong court sentenced former tycoon Jimmy Lai, an outspoken 78-year-old critic of China’s Communist Party, to 20 years in prison, a ruling that adds further friction in U.S. relations with China.

Subscribe to enjoy similar stories. MiniMax made a stellar stock-market debut in Hong Kong on Friday, with shares more than doubling as investors continued to pile into Chinese artificial-intelligence start-ups. The stock soared 109% to 345 Hong Kong dollars on its first day of trading, following an initial public offering in which MiniMax raised HK$4.8 billion ($619 million) at an offer price of HK$165.

Subscribe to enjoy similar stories. The U.S. government has tried to address the long decline in stock-exchange listings by relaxing the rules for small public companies.

Enforcement Directorate (ED) probing a money laundering and alleged forex violation case against Indian Premier League (IPL) founder Lalit Modi has recently sent a letter rogatory (LR) to Singapore and Hong Kong seeking details of the alleged money trail that the agency is investigating to trace the ultimate beneficiary, if any, sources in the know told ET. Between 2008 and 2010, Modi was the IPL chief before being sacked by BCCI after allegations of financial misconduct linked to alleged proxy ownership of the franchises surfaced.

Sean Parnell, chief Pentagon spokesman, said Friday that Hegseth will participate in the 2025 Central American Security Conference. He said Hegseth will take part in meetings that «will drive ongoing efforts to strengthen our partnerships with Panama and other Central American nations toward our shared vision for a peaceful and secure Western Hemisphere.» He did not mention the canal, which was built by the US in the early 1900s as it looked for ways to facilitate the transit of commercial and military vessels between its coasts. Washington turned control over to Panama on Dec. 31, 1999, under a treaty signed in 1977 by President Jimmy Carter. Trump has claimed that Carter «foolishly» gave the canal away. After Trump's threats, a Hong Kong-based conglomerate has agreed to sell its controlling stake in a subsidiary that operates ports near the Panama Canal to a consortium including BlackRock Inc., effectively putting the ports under American control. The deal will give the U.S. investment management company BlackRock Inc. control over 43 ports in 23 countries, including the ports of Balboa and Cristobal, located at either end of the Panama Canal. Other ports are in Mexico, the Netherlands, Egypt, Australia, Pakistan and elsewhere.

transnational repression" and acts that threaten to further erode the city's autonomy, drawing condemnation from the territory's government Tuesday. The six officials included Justice Secretary Paul Lam, security office director Dong Jingwei and police commissioner Raymond Siu. The sanctions are expected to further escalate tensions between Washington and Beijing, who are already locked in friction over trade tariffs and other issues like Taiwan. «Beijing and Hong Kong officials have used Hong Kong national security laws extraterritorially to intimidate, silence, and harass 19 pro-democracy activists who were forced to flee overseas, including a US citizen and four other US residents,» the US State Department said. The statement dated Monday said the six officials sanctioned were linked to entities or actions that engaged in coercing, arresting, detaining or imprisoning individuals under the authority of the city's security law, or implementing the law. The other three affected officials were Sonny Au, the secretary-general for the city's committee for safeguarding national security, and Dick Wong and Margaret Chiu, both assistant commissioners of the police.

The United States sanctioned six Chinese and Hong Kong officials who it alleged were involved in “transnational repression” and acts that threaten to further erode the southern Chinese city’s autonomy

Anahat Singh brushed aside Helen Tang of Hong Kong in the final to clinch the JSW Indian Open title here on Friday. This is the 17-year-old Anahat's sixth title on the bounce, and 11th in total, and she won it quite easily 3-0 (11-9, 11-5, 11-8). The win gave Anahat 300 ranking points. Anahat had Helen fighting hard in the other corner during the first set, but the Indian did enough to take a 1-0 lead. After that, the third seed Anahat began to dominate the Hong Kong woman, and rattled off the next couple of sets in 13 minutes. Anahat, who did not let her opponent settle down during the course of the summit clash, eventually won the final in 24 minutes. In the men's singles final, India's Abhay Singh fought well against Egyptian Kareem El Torkey but went down 1-3 (10-12, 4-11, 11-7, 10-12).

The Asian financial center’s roadmap — an updated version was published last month — could serve as a blueprint for the US Securities and Exchange Commission, currently consulting the public to develop a “workable regulatory framework” for digital coins.

Xiaomi Corp kicked off a share sale that may fetch as much as $5.3 billion, capitalising on a surge in the Chinese company's stock price to help raise funds to expand its electric-vehicle business. The Beijing-based company is offering 750 million shares at HK$52.80-54.60 apiece, according to terms of the deal. That's a discount of 4.2% to 7.4% versus the stock's last close in Hong Kong. Investor demand met the size of the offering by Monday evening, according to people familiar with the matter, who asked not to be identified because they're not authorised to speak publicly about the matter. The offering, which comes weeks after EV giant BYD Co's $5.6-billion fundraising, builds on what's shaping up to be a bumper year for share sales in Hong Kong. After years of slumping, the city's benchmark stock index is among the world's best performers this year, fuelling optimism for a rebound in deals in the Asian financial hub.

GJEPC) officials said. China's economic slowdown coupled with plunging marriage rates in the country created a chilling effect in the Chinese diamond market valued at around USD nine billion. Last year, China's diamond market generated about USD 5.7 billion in revenue, and is expected to grow to USD 7.2 billion by 2030, according to market analysts. The demand for diamonds has fallen by as much as 50 per cent in China, while wholesale diamond prices have fallen by about 40 per cent over the past two years, creating a major downturn in the global diamond industry especially that of India as it accounted for a third of India's cut and polished diamond exports.

Donald Trump's wide-ranging trade war rouses fears of recession, global investors have found an unlikely new sanctuary: Chinese equities. Hong Kong's benchmark Hang Seng Index — where many major Chinese companies are listed — is up 17 since Trump entered the White House in January. That compares to an about 9 per cent drop in the S&P 500, which has also shed $4 trillion in market value from record highs last month, Reuters reported. Trump's erratic pronouncement on tariffs and moves to slash federal government spending have challenged assumptions about the appeal of U.S.

BEIJING — Mainland Chinese investors are piling into the Hong Kong stock market at record volumes as its tech-heavy Hang Seng Index trades around three-year highs.

Rodrigo Duterte said in Hong Kong that he was ready for possible arrest amid reports the International Criminal Court (ICC) was poised to issue a warrant over his years-long «war on drugs» that killed thousands. The «war on drugs» was the signature campaign policy that swept Duterte to power in 2016 as a maverick, crime-busting mayor, who delivered on promises he made during vitriolic speeches to kill thousands of narcotics dealers. The office of the current President Ferdinand Marcos Jr said on Monday no official communication had been received from Interpol yet, but indicated Duterte could be handed over.

Gujarat's Dholera Special Investment Region which is emerging as a semiconductor hub in the state, according to a developer. Recent months have seen a rise in investor visits and land inquiries, fueled by Dholera's vision to become India's semiconductor hub with four of the five semiconductor plants in India being built in Dholera, Aaiji Group Founder and Managing Director Lalit Parihar said. Among fresh proposals, NextGen has signed a memorandum of understanding with the Gujarat government at Gujarat SemiConnect Conference 2025 for setting up a Rs 10,000-crore compound semiconductor fab and optoelectronics facility at Dholera. A tripartite agreement was inked between Tata Electronics, Taiwanese firms PSMC and Himax Technologies for an upcoming semiconductor chip manufacturing facility of the Indian company at Dholera, he said.

Subscribe to enjoy similar stories. Imagine a literary festival not as encounters with favourite authors or listening to fascinating debates but instead as embarrassing onstage debacles, serialised episodes of misadventures that metamorphose in the mind into a very public pillorying. With this season’s calendar of lit fests, in locations as diverse as Jaipur and Thimphu, coming to an end, my bizarre experiences at Sri Lanka’s Galle Literary Festival last month reminded me of my accident-prone run on stage.

Hong Kong billionaire Li Ka-shing may have just pulled off one of his boldest transactions yet. Under pressure from the Trump administration over two ports at the Panama canal controlled by CK Hutchison Holdings Ltd., Li’s company announced a plan to sell off the bulk of its global ports business to a consortium led by BlackRock Inc. In return, the Hong Kong firm will receive cash proceeds of more than $19 billion. Investors, and even some of CK Hutchison’s closest advisers, were surprised that what began with two Panamanian ports has now evolved into a much larger deal. Under the agreement, the company will sell 43 ports in 23 countries, while keeping facilities in mainland China and Hong Kong.

US stock market has risen in 2025 and isn't far from its all-time high set last week. But it's climbed less than stock indexes in Mexico City, Paris and Hong Kong. The difference in performance has been so stark than an index of stocks from 22 of 23 developed economies around the world, excluding the United States, has trounced the S&P 500: a 7.5 per cent rise through Monday versus 1.7 per cent for Wall Street's benchmark.