City Hong Kong Financial News

Crypto-friendly Swiss-based SEBA Bank has successfully obtained an approval-in-principle (AIP) from the Securities and Futures Commission (SFC) in Hong Kong, bringing it one step closer to offering crypto services in the region.

The Hong Kong arm of crypto-friendly Swiss bank SEBA Bank has received in-principle approval from the Hong Kong Securities and Futures Commission (SFC) allowing it to deal in virtual assets.

Day trading guide for today: Domestic equity benchmarks Sensex and Nifty settled higher in the previous session supported by gains in select heavyweights, including HDFC Bank, Tata Steel amid positive global cues. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended with gains. European markets were trading in the green.

₹305 crore during the session. As per the NSE data, FIIs cumulatively bought ₹10,515.8 crore of Indian equities, while they sold ₹10,453.97 crore --- resulting in an inflow of ₹61.51 crore. Meanwhile, DIIs infused ₹8,131.87 crore and offloaded ₹7,826.78 crore, registering an inflow of ₹305.09 crore.

By Tom Westbrook

Standard Chartered agreed to sell its global aviation finance leasing business for an initial $700 million in cash to Aircraft Leasing Company, or AviLease. The Asia-focused lender on Tuesday said the consideration could be adjusted depending on the net asset value of the business at completion.

real estate developer, lost $2.2 billion, or 79% of its market value on Monday when it resumed trading following a 17-month suspension to restructure its offshore debt. Evergrande is at the centre of a crisis in property sector of China that has seen a string of debt defaults since late 2021, and its stock has been suspended for 17 months.

Investing.com — China slashes a levy on stock trading in a bid to reinvigorate capital markets and boost investor confidence. Shares in the country rise following the announcement, although ailing property group Evergrande's shares slide sharply after they start trading for the first time since March 2022. Meanwhile, 3M's stock climbs in premarket trading on reports that the industrial conglomerate has reached a settlement over personal injury claims related to earplugs it has sold to the U.S. military.

Hong Kong’s Financial Secretary, Paul Chan Mo-po has reiterated his support for blockchain technology, calling it the next wave of "breakthrough growth" in the digital technology industry in a recent blog post.

real estate developer, Evergrande Group are bleeding in red as the stock plunged 87% in Hong Kong trading as they started trading for the first time in a year and a half. Over 99% of the share value of embattled Chinese developers has been lost in the past three years. On Monday, Evergrande's market value shrank to just HK$4.6 billion ($586 million) from a peak of more than $50 billion in 2017.

Investing.com-- Most Asian stocks rose sharply on Monday, with Chinese shares in the lead after the country rolled out more measures to support its battered equity markets, while focus turned to key indicators from the world's largest economies this week.

trading in Hong Kong on Monday after the company was suspended for 17 months for not publishing its financial results. Trading «resumed at 9:00 am (0100 GMT) today», according to a notice posted on the Hong Kong stock exchange. The move comes after the company said in a filing on Friday that it had «fulfilled the resumption guidance» set out by the bourse, including belatedly publishing its financial results and complying with other listing rules. Its shares plunged 86.67 percent at the opening. Once China's largest real estate firm, Evergrande defaulted in 2021 and is saddled with more than $300 billion in liabilities, becoming a symbol of the nationwide property crisis that many fear could spill over globally. The company on Sunday reported fresh losses for the first half of the year amounting to 33 billion yuan ($4.53 billion), as well as dwindling liquidity, with just $556 million in cash assets. Evergrande's creditors will vote Monday on a proposal from the developer regarding its offshore debt that is shaping up to be one of China's biggest restructurings ever. The plan offers creditors a choice to swap their debt into new notes issued by the company and equities in two subsidiaries, Evergrande Property Services Group and Evergrande New Energy Vehicle Group. Earlier this month, the company filed for bankruptcy protection in the United States, a measure to protect its US assets during its restructuring.

By Clare Jim

Hong Kong Stock Exchange on Sunday. This loss compounds the cumulative losses of over 582 billion yuan incurred over the past two years. These losses mark the company's initial two complete annual financial downturns since it was listed in 2009.

Bhairahawa to Delhi and Hong Kong, making Kathmandu a transit point. The ticket booking for the same has already started, according to Nepal Airlines spokesperson Ramesh Paudel. In the beginning, there will be Bhairahawa-Hong Kong and Bhairahawa-Delhi flights via Kathmandu every Tuesday.

Reuters. The January-June loss was 33 billion yuan ($4.53 billion) versus a 66.4 billion yuan loss in the same period a year earlier, said the firm. Since late 2021, Evergrande has seen a string of debt defaults, unfinished homes, and unpaid suppliers, shattering consumer confidence in the world's second-largest economy.

HONG KONG (Reuters) — Property developer China Evergrande (HK:3333) Group on Sunday reported a January-June net loss of 33 billion yuan ($4.53 billion) versus a 66.4 billion yuan loss in the same period a year ago.

Asian digital asset exchange HaskKey will now offer Bitcoin (BTC) and Ethereum (ETH) crypto trading to its retail clientele in Hong Kong.

The Hong Kong Monetary Authority (HKMA) released a report on Aug. 25 detailing the findings of its Project Evergreen study which analyzed the market impact of bond tokenization. 

US Federal Reserve Chair Jerome Powell's speech at Jackson Hole. The domestic institutional investors (DIIs) were net buyers again and invested ₹1,414 crore during the session. As per the NSE data, FIIs cumulatively bought ₹10,929.61 crore of Indian equities, while they sold ₹15,567.82 crore --- resulting in an outflow of ₹4,638.21 crore.

Asian cryptocurrency exchange HashKey is set to start offering Bitcoin and Ether crypto trading services to retail customers in Hong Kong starting on August 28, according to a local media report. Investors will only be allowed to invest up to 30% of their net worth into cryptocurrencies when using the platform