City Hong Kong Financial News

Creditors of the crypto derivatives exchange CoinFLEX are alleging that the newly established creditor claims marketplace OPNX, founded by bankrupt crypto hedge fund Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, wrongfully used CoinFLEX assets without their consent.

Hong Kong’s investment management firm, Victory Securities has obtained approval to offer digital asset services to retail clients expanding the country’s number of cryptocurrency licences.

The brokerage firm Interactive Brokers Hong Kong has been licensed in Hong Kong for virtual asset trading by retail clients, according to a post on LinkedIn by the Managing Director for Asia Pacific at Interactive Brokers, David Friedland.

Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. __________

According to several industry experts, Binance and its founder, Changpeng Zhao (CZ), pleading guilty to US anti-money laundering laws could pose challenges to the cryptocurrency exchange’s ambitions in Hong Kong.

Hong Kong’s Hospital Authority is planning to tackle a noteworthy rise of two superbugs — vancomycin-resistant enterococci and Candida auris — with the help of artificial intelligence (AI). 

By Stella Qiu

Investing.com-- Most Asian stocks fell on Friday following weak economic signals from Japan and the euro zone, while steep losses in index heavyweight Chow Tai Fook Jewellery dragged Hong Kong’s Hang Seng index lower.

Nifty just above 19,800 and the Sensex at 66,017.81. Diverse trends emerged across Asian markets as oil prices fell. Japan’s Nikkei 225 surged by 0.97% to 33,775.20, and the TOPIX rose by 0.74% to 2,395.90 after a national holiday.

Hong Kong Legislative Council member and CPPCC member Johnny Ng, known as @Johnny_nkc on Twitter, attended the «2023 World Internet Conference» in Wuzhen, where he delivered a keynote speech on digital literacy and skills enhancement. Ng’s speech, dated 9th November 2023, focused on two main themes: the integration of the  senior  economy with the internet, and the role of Web3 technology in empowering content creators.

Some creditors of cryptocurrency futures exchange CoinFLEX are alleging that OPNX, a new crypto exchange established in part by Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, was created using CoinFLEX assets without their consent. 

These holidays, fans from around the world can join beloved characters including Elsa and Anna from Frozen, BE@RBRICK, and Le Petit Prince in Hong Kong to celebrate the festive season. Beyond these iconic figures, the city offers myriad ways for visitors of all ages to immerse themselves in the festive ambience, promising a season filled with enchantment and joy. Mr. Puneet Kumar, Director – South Asia and Middle East, Hong Kong Tourism Board said," extended a warm invitation to Indian visitors to get ready for the festive atmosphere in Hong Kong with an array of exciting events, spectacular Christmas decorations, and lighting installations at the Hong Kong WinterFest! Our visitors from India will encounter magical activities at top attractions, enjoy prestigious offers and privileges from top-tier shopping malls, have exclusive dining experiences at classy hotels and restaurants, take themed tours and itineraries, and more! To top it all off, join the Hong Kong New Year Countdown Celebrations to ring in the new year and have an unforgettable holiday with your loved ones!" Hong Kong Disneyland debuts “The World of Frozen", the first of its kind in the worldStep into a magical winter wonderland as Hong Kong Disneyland unveils “The World of Frozen", the world’s first and largest Frozen-themed land.

Hong Kong Disneyland has opened its first Frozen-themed attraction, with thousands of eager visitors turning up to experience the new rides

The Hong Kong Monetary Authority (HKMA) is set to initiate the second phase of its digital Hong Kong Dollar project next year, focusing on the exploration of innovative applications and reinforcing collaborations across the financial industry.

China Asset Management’s Hong Kong branch has entered into a memorandum of understanding with Hashkey exchange and HamsaTech Hong Kong.

children under 12 years of age, impacting their development, scientists have found after reviewing 33 brain imaging studies spanning 23 years and involving 30,000 participants. Screen time, referring to the time children spend watching television or playing computer games, was found to impact the development of executive functions of brain such as working memory, planning and responding flexibly to changing situations by making structural changes in the pre-frontal cortex, the scientists found.

Singapore startups less than gung-ho about adding to the city’s 18,000-strong fintech workforce. However, it may not be a bad time to look for jobs in the Asian financial center. Rivals like Hong Kong and Abu Dhabi are hungry for qualified professionals.

As the final weeks of 2023 approach, it’s fair to say that one of the most dominant trends and drivers of crypto companies’ strategies over the past months can be summed up in a single word: licenses. 

So far six companies, including Panthertrade (Hong Kong) Limited, a subsidiary of Futu Holdings (US: FUTU),have filed for a virtual asset trading platform license in Hong Kong.

By Samuel Shen and Rae Wee

Shares in Chinese e-commerce titan Alibaba tanked more than seven percent at the Hong Kong open Friday after the firm's surprise decision to call off part of its high-profile restructuring because of the US-China chip war. In a move that shocked investors, the Hangzhou-based tech giant said Thursday that US curbs on exports of advanced chips had forced it to call off the spinoff of its cloud computing arm. The firm's stock dived 7.13 percent soon after the starting bell in Hong Kong, tracking a collapse in its New York-listed shares. Washington has moved to bar the shipment to China of powerful chips, including those from California-based Nvidia, which are crucial to the development of artificial intelligence, on national security grounds. In one of its most wide-ranging restructurings, Alibaba said in March it planned to split the vast group into six distinct entities that would be able to separately pursue funding through public listings. But on Thursday, it called off the creation of its Cloud Intelligence arm in light of «the recent expansion of US restrictions on export of advanced computing chips». «We believe that a full spin-off of Cloud Intelligence Group may not achieve the intended effect of shareholder value enhancement,» the company said in its earnings release. «Accordingly, we have decided to not proceed with a full spin-off, and instead we will focus on developing a sustainable growth model for Cloud Intelligence Group under the fluid circumstances,» Alibaba said. Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform. The Hangzhou-based group's performance is considered a barometer of domestic consumption, which has flagged in recent