City Hong Kong Financial News

26.07 / 14:35

Blockchain regulation privacy Smart Contracts Worldcoin Worldcoin struggles to find new users willing to scan iris for crypto

The controversial crypto project Worldcoin was launched for the public on July 24, making way for customers to scan their iris at designated locations in 20 countries and receive 25 Worlcoins (WLD) the native token of the project.

26.07 / 11:23

Blockchain Stablecoin Adoption Binance Binance lists new zero trading fee stablecoin, halts shortly after on technical issues

The recently introduced stablecoin, FDUSD, which was scheduled to be listed on Binance on July 26, 2023, at 08:00 (UTC), enabling trading for FDUSD/BUSD and FDUSD/USDT spot and margin trading pairs has now been postponed to restart at 2023-07-26 14:00 (UTC) due to FDUSD pairs’ liquidity providers experiencing technical issues.

26.07 / 10:07

UPS Waters DOW COMPOSITE Fed rate hike Stock market today: Global markets lower ahead of what traders hope will be a final Fed rate hike

Global stock markets are lower after Wall Street hit a 15-month high ahead of what traders hope will be the Federal Reserve’s final increase in this interest rate cycle

26.07 / 09:35

business Blockchain NASDAQ Ant Ant Group reportedly plans IPO, blockchain firm discloses offer price on Nasdaq, and more

Ant Group, a company backed by billionaire Jack Ma, is reportedly planning to restructure and cut ties to some operations that are not core parts of its Chinese financial business. The move prepares the company for a potential initial public offering (IPO) in Hong Kong.

25.07 / 11:03

UPS Citi performer track country Support China's property firms rally after Beijing pledges economic support

By Clare Jim and Karin Strohecker

25.07 / 05:41

UPS COMPOSITE MSCI Nikkei Asia shares rebound sharply on China policy pledges

By Ankur Banerjee

25.07 / 03:23

UPS Lowe's COMPOSITE MSCI Nikkei Support Asian shares rally after China pledges economic support steps

Asian shares jumped on Tuesday as China's pledge to step up policy support for its stuttering economy soothed sentiment and lifted beaten down Hong Kong and Chinese stocks, while the dollar eased ahead of the Federal Reserve meeting this week. MSCI's broadest index of Asia-Pacific shares outside Japan was 1.2% higher and on course to snap a six-day losing streak.

24.07 / 10:57

Web3 NFTS The Sandbox McDonald’s Hong Kong Collaborates with The Sandbox to Launch McNuggets Land in Web3

McDonald's Hong Kong collaborated with The Sandbox to create McNuggets Land, an immersive Web3 experience to commemorate the 40th anniversary of Chicken McNuggets.

21.07 / 16:29

business NFT Metaverse McDonald’s debuts McNuggets Land in The Sandbox

McDonald's Hong Kong has picked The Sandbox to build its first Web3 experience, the McNuggets Land, a virtual world dedicated to celebrating Chicken McNuggets' 40th anniversary.

21.07 / 15:05

Citi Career Telegram Fighting "Bad luck again to all the Hong Kong bankers now in Singapore"

If you're one of the bankers who left Hong Kong between 2019 and 2022 and who went to live in Singapore, I bet you're not feeling so smug now.

21.07 / 15:05

Provident Citizens LinkedIn HSBC SVB cover HSBC has poached SVB’s Asia team in Hong Kong

HSBC has hired the former Asia team Silicon Valley Bank as it continues to bolster its new innovation banking business with the remnants of the collapsed lender’s people operations.

21.07 / 15:05

COST UPS Citi awards Morning Coffee: Deutsche Bank elaborates on its banker hiring spree. 28 year-old finance millionaires contemplated nuclear bunker

Fabrizio Campelli, the friendly face of Deutsche Bank's corporate and investment bank, has contributed to his cuddly quotient with further elaboration on all the bankers he's hired so far and all the bankers he plans to hire still.

21.07 / 12:39

PBoC reports transaction volume China's Digital Yuan Hits $250 Billion Transaction Volume, Central Bank Governor Reports

The People’s Bank of China (PBoC) revealed that $250 billion worth of transactions have taken place using the country’s central bank-backed digital currency (CBDC) digital yuan in 18 months since the start of its pilot.

20.07 / 07:23

Citi Provident Digital beautiful electronic Cross-border 200+ Hong Kong Stores Accept Digital Yuan – China’s CBDC Goes Cross-border

Over 200 Hong Kong stores now accept digital yuan payments, banks have claimed, as China looks to take its CBDC into the cross-border space.

20.07 / 07:19

COST UPS Provident Macquarie stake Macquarie pulls pin on pursuit of big stake in EnergyAustralia

Macquarie has ended discussions with Hong Kong’s CLP Group over the possible purchase of a 50 per cent stake in EnergyAustralia, the country’s third-largest electricity and gas supplier, sources said.

19.07 / 17:41

UPS Citi IPO Enterprise Parke awards Governments in China are Propping Up Hong Kong’s Ailing IPO Market

Chinese companies wanting to go public in Hong Kong have had a hard time getting international investors to buy their shares. Local governments in China are stepping up to help fill the void—and seeking more in return. Listings in Hong Kong raised just $2.6 billion this year, down 47% from the same period last year and far below 2021 levels, according to Dealogic.

19.07 / 11:39

Adoption regulation Web3 Dollar NOT Hong Kong would not go crypto without China’s approval: Animoca exec

Hong Kong’s rapid adoption of cryptocurrencies and Web3 is a sign of some “big moves” happening in mainland China, a co-founder of the local game software firm Animoca believes.

19.07 / 04:35

Citi FIVE Man Williams Platform These 4 bars in India are rated among top-50 best bars in Asia

A post shared by Sidecar (@sidecarindia) Hong Kong's Coa has bagged the top spot for a third consecutive year. Whereas Jigger & Pony in Singapore ranked second on Asia’s 50 Best Bars list. It’s the first time since 2019 that the ceremony has been held with all borders in the region re-opened after the Covid-19 pandemic.

18.07 / 14:47

property companies Evergrande reveals £62bn losses in delayed results

As of 31 December 2022, the firm’s total liabilities amounted to CNY 2.4trn (£260bn)

18.07 / 07:25

UPS Citi Digital CNY Shenzhen, China: 36m Digital Yuan Wallets Opened So Far – CBDC Pilot Gathers Pace

The Chinese city of Shenzhen says its residents have opened almost 36 million digital yuan wallets, as the nation’s central bank digital currency (CBDC) pilot breaks new ground.

18.07 / 03:03

China property giant Evergrande loses $113 billion over two years

property giant Evergrande reported Monday a net loss of over $113 billion in 2021 and 2022, and nearly $340 billion in liabilities, as the company released long-delayed results. The loss showed «the existence of material uncertainties that may cast significant doubt on the Group's ability to continue as a going concern», Evergrande said in a stock exchange filing.

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