City Hong Kong Financial News

05.04 / 21:27

Provident Stablecoin Digital Trade Bitcoin reports Hong Kong Welcomes Crypto With New Initiative For Stablecoin Issuers

Hong Kong crypto adoption is taking another leap forward at ZA Bank, where executives are in talks to start providing direct banking services to several stablecoin issuers.

04.04 / 19:15

markets UPS wellness show reports Videos Otherworldly assets: Contemporary art remains both surreal and lucrative

One of the most commented upon displays at Asia’s biggest art show, Art Basel Hong Kong, was a video art work called Cut Suits by Fuyuhiko Takata. It featured half a dozen male models solicitously bending over each other with scissors in their hands and cutting up their suits till they end up bare chested with their clothes in tatters. It looked as if an otherwise disciplined Japanese executive had suffered a mid-life crisis and lost even his sense of propriety.

02.04 / 09:39

markets UPS Manufacturing economy Trade show reports Stock market today: Global stocks mixed after strong US factory data prompt Wall St retreat

Asian shares are mixed after Wall Street retreated as surprisingly strong U.S. manufacturing data cast doubts over how soon the Federal Reserve might cut interest rates

02.04 / 09:01

UPS Manufacturing MSCI Healthcare Xiaomi electronic China stocks end lower as sentiment remains subdued; HK shares up

Chinese stocks ended slightly lower on Tuesday, as sentiment remained muted between optimism over improved manufacturing activity data and hopes for more stimulus measures. Hong Kong stocks rose, led by energy and technology shares. Xiaomi was under the spotlight, with its shares surging as much as 16%, as the electronics maker's sporty electric vehicle launched last week drew strong interest. ** At the close, the Shanghai Composite index was down 0.08% at 3,074.96, while Hong Kong's main Hang Seng index was up 2.36% ** The blue-chip CSI300 index was down 0.42%, with its financial sector sub-index lower by 0.34%, the consumer staples sector down 0.65%, the real estate index down 3.48% and the healthcare sub-index down 1.28%.

01.04 / 19:09

Aviat security Boeing SPY Cathay Trade performer Air Canada’s Hong Kong jet maintenance deal amid China discord raises security concerns

Air Canada has awarded a Hong Kong company a major contract to perform heavy maintenance on 56 of its wide-body jets, sparking concerns about Chinese spies bugging the planes and aircraft becoming trapped in China if a military conflict erupts with Taiwan.

29.03 / 15:41

Binance HKVAEX, Linked to Binance, Withdraws License Application from Hong Kong’s SFC

The crypto exchange HKVAEX, linked to the world’s largest crypto exchange, Binance, has withdrawn its virtual asset trading platform license application from the Hong Kong Securities and Futures Commission (SFC) post-deadline.

28.03 / 17:59

BTC ETF security Bitcoin track spot bitcoin ETF Hong Kong Asset Managers Together Apply for Spot Bitcoin ETF With SFC

Two asset managers in Hong Kong have jointly filed for a spot Bitcoin exchange-traded fund (ETF) with the Securities and Futures Commission (SFC). The move comes at a time when the regulator is gearing-up to approve ‘in-kind’ BTC spot ETFs in Q2 2024.

28.03 / 14:41

Web3 HashKey HashKey Partners with Victory Securities for Enhanced Custody and Trading Services

HashKey Exchange has formed a strategic partnership with Victory Securities to enhance virtual asset services in Hong Kong.

27.03 / 08:49

Gold Bank tokenisation HSBC Launches Gold Token Service for Retail Investors in Hong Kong

Banking giant HSBC is now allowing retail investors in Hong Kong to buy real gold through digital tokens.

27.03 / 03:35

markets BTC ETF security Bitcoin Bitcoin Etf Hong Kong Will Soon Approve ‘In-Kind’ Bitcoin Spot ETFs – Here’s What That Means

Hong Kong is getting ready to follow the United States’ lead in approving Bitcoin spot ETFs for public trading, analysts at Bloomberg Intelligence suggest.

26.03 / 15:53

markets IPO Pinduoduo Alibaba scraps planned IPO of Cainiao logistics unit as it doubles down on e-commerce

Alibaba Group Holding on Tuesday said it had scrapped plans to list its logistics unit Cainiao in Hong Kong, as it looks to prioritize growing its e-commerce business while facing challenging IPO market conditions

26.03 / 12:35

UPS IPO Schools stake Alibaba dumps logistics arm IPO; to buy rest of Cainiao stake for up to $3.8 billion

Alibaba Group said on Tuesday its logistics unit, Cainiao Smart Logistics Network, has withdrawn its initial public offering and listing application on the Hong Kong Stock Exchange. Alibaba, which holds around 64% stake in Cainiao, said it is offering to acquire the remaining stock for up to $3.75 billion.

26.03 / 12:21

COST UPS Citi Gap Trade Hong Kong bankers: "The attraction of Singapore has died off"

Hong Kong has increased the income tax paid by anyone earning over $640k and above to 15%, but compared to Singapore, Hong Kong looks generous. In Singapore, income tax is 15% from $89k and 22% from $237k and above.

25.03 / 20:05

SFC Hong Kong Regulator Issues Alert Against Suspicious Crypto Platform HKCEXP

The Securities and Futures Commission of Hong Kong (SFC) has issued a warning regarding HKCEXP, an allegedly suspicious crypto trading platform claiming to be registered with the regulator.

24.03 / 18:25

Citi Extreme WhatsApp reports Hong Kong reports its highest march temperature in 140 years

Hong Kong's temperature on Sunday reached the highest recorded level during the month of March in 140 years, according to the city's observatory. The maximum temperature measured at the Observatory was 31.5 degrees Celsius (88.7 degrees Fahrenheit) — the highest reported during the month of March since records began in 1884 — while it surged to above 32 degrees Celsius in the northern areas of the territory close to the mainland Chinese city of Shenzhen.

23.03 / 08:27

UPS Citi security Trade Freedom International New Hong Kong security law comes into force amid fears for freedoms

By James Pomfret, Jessie Pang and Greg Torode

22.03 / 03:21

markets Provident Reuters reports International Profiles Hong Kong-listed Samsonite plans dual listing in hunt for investors

(Reuters) -Luggage maker Samsonite International on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets.

21.03 / 23:27

Reuters security country information Updates International Destinations Wary of new security law, foreign firms in Hong Kong bolster contingency plans

By James Pomfret and Greg Torode

21.03 / 12:55

markets UPS DOW Remark Trade Markets rally makes investors richer by Rs 5.72 lakh cr

Investors’ wealth jumped Rs 5.72 lakh crore on Thursday as markets soared nearly 1 per cent in tandem with a rally in global equities after the US Fed projected three rate cuts this year. The 30-share BSE Sensex jumped 539.50 points or 0.75 per cent to settle at 72,641.19. During the day, it zoomed 780.77 points or 1.08 per cent to 72,882.46. The market capitalisation of BSE-listed firms went up by Rs 5,72,752.79 crore to Rs 3,79,85,669.12 crore (USD 4.57 trillion).

21.03 / 03:43

markets Citi track Hong Kong central bank keeps key rate unchanged, tracking Fed move

HONG KONG (Reuters) — The Hong Kong Monetary Authority (HKMA) left its base rate charged through the overnight discount window unchanged at 5.75% on Thursday, tracking a move by the U.S. Federal Reserve to keep rates steady.

21.03 / 01:32

Booking Citizens Airlines security wellness Bill India issues 'Pre-Arrival Registration' advisory for citizens visiting Hong Kong. Details here

Hong Kong gets new security law 'to crush dissent': How will it impact citizens? Additionally, the Indian passengers must have the following: Passport validity of at least six months, confirmed return or onward tickets, confirmed hotel booking, proof of bona fide purpose of visit, and proof of sufficient financial provisions. The Consulate General of India, also pointed out that holding Pre-Arrival Registration (PAR) is not a guarantee of the registrant's successful entry in Hong Kong and the above-mentioned requirements need to be followed "Please note that holding a valid PAR is not a guarantee of the registrant's successful entry to the HKSAR.

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