City Hong Kong Financial News

NetEase Inc, Bloomberg News reported on Thursday. The inspection, part of an agreement signed last year, comes amid rising tensions between the United States and China, including U.S.

real estate sector tumbled 4.2%. Britain’s FTSE 100 fell 2.2% at 7,280.50. Germany’s DAX dropped 2.6% at 15,528.54. France’s CAC 40 tanked 3.1% at 7,082.29.  In Asia, stock markets fell on Thursday, led by Hong Kong shares. Hong Kong’s Hang Seng index slumped 3% at 18,533.05. China’s Shanghai Composite lost 0.5% at 3,205.57.

CK Bidco said it had been reviewing the possibility of maintaining the REIT status of Civitas following completion of the offer.

BSE Sensex jumped 185.37 points or 0.28 per cent to 65,631.41 in morning deals. Tracking rally in equities, the market capitalisation (mcap) of BSE-listed firms reached an all-time peak of Rs 3,01,10,526.12 crore. The BSE benchmark had jumped over 2,500 points in its record rally from June 26 to July 4.

According to a July 4 announcement, BitgetX, the Hong Kong subsidiary of cryptocurrency exchange Bitget, has joined the Hong Kong Virtual Asset Consortium (HKVAC), which provides ratings services and indices to cryptocurrencies. 

Fourth Paradigm Technology, an AI startup, has completed procedural work for a Hong Kong initial public offering, becoming only one of a handful of companies to get the nod from China's securities regulator since new rules became effective this year. The company has successfully completed the offshore listing filing process，according a July 3 filing on the China Securities Regulatory Commission (CSRC) website. The greenlight comes at time when regulatory scrutiny of proposals for share offerings has intensified in the wake of new listing rules, lengthening the waiting time for approvals, sources have said.

Crypto and blockchain advocates have authored a report calling for the Hong Kong government to issue a stablecoin pegged to the region’s dollar, which could challenge the dominance of Tether and USD Coin.

In a revolutionary move, Hong Kong is exploring the idea of launching its Stablecoin, HKDG, to rival established Stablecoins like USDT and USDC. 

BSE Sensex, which is on a record-breaking run helped by unabated foreign fund inflows and largely bullish investor sentiments. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 274 points or 0.42 per cent to settle at its all-time closing high of 65,479.05 on Tuesday. During the day, the benchmark surged 467.92 points or 0.71 per cent to hit its lifetime intra-day peak of 65,672.97.

Industry experts believe Hong Kong’s shifting attitude towards blockchain technology, cryptocurrencies and Web3 could entice businesses away from the United States.

Some office workers in Tokyo and Hong Kong have a hidden weapon against blistering summer temperatures. Slipped discreetly into a pocket in the collar of special business shirts, Sony’s Reon Pocket 4 device rests a cool metal pad against the back of the neck.

Investing.com — Shares of Chinese electric vehicle makers surged on Monday, amid increased optimism over the sector after the largest players in the country clocked a sizeable jump in vehicle deliveries through June

Hong Kong has taken another major step towards becoming a leading hub for cryptocurrency and blockchain technology. 

As part of Hong Kong's ongoing commitment to embrace the "megatrend" of Web3 development, it has established a diverse group of industry and government officials to supervise the progress of Web3 in the region.

RERA) has permitted Hong Kong-based Risland Holdings to resume construction and sales of its first Indian project, after an about nine-month hiatus caused by insufficient documentation. The building sanction plan and the RERA registration for the project at Chattarpur in South Delhi had lapsed, and the Municipal Corporation of Delhi (MCD) as well as the RERA had declined to extend the validity of the documents due to a land ownership dispute. «Since, sanctioned building plans have been revalidated by MCD, applicants can now proceed with the work accordingly.

According to a June 27 report by local news outlet Foresight News, Web3 firms in Hong Kong are spending anywhere between 20 million to 200 million Hong Kong dollars ($2.55 million to $25.5 million) for the acquisition of a Virtual Asset Licensing Regime (VASP) licenses. Sources explained:

The price of Ethereum (ETH) has been on a remarkable upward rally, surging above the $18,000 level on Tuesday morning. 

US-based stablecoin issuer Circle is closely monitoring Hong Kong’s crypto policies as the government pushes for a friendly regulatory framework. 

In a recent blog post, Hong Kong's Financial Secretary celebrated Father's Day while also sharing the government's significant efforts in stimulating innovative technological development. The official highlighted that since the establishment of the Innovation and Technology Bureau (now the Innovation, Technology, and Industrial Bureau) in 2015, nearly HKD 200 billion has been invested to bolster technological innovation.

Hong Kong and Shanghai Banking Corporation (HSBC) — the biggest bank in Hong Kong — has reportedly introduced its first local cryptocurrency services.

Hong Kong and India have been in the news recently with respect to their developments in the crypto landscape. While Hong Kong has been announcing several regulatory developments in its crypto ecosystem, India’s G20 presidency is what the crypto community in the country is banking on for a billion dollar market making opportunity. Hong Kong has traditionally been friendly in its approach towards crypto, which attracted many prominent businesses to set up shop in the region. After some initial back and forth on letting retail investors engage with digital assets, it has been made clear that all users can invest and engage in crypto the same way. The region’s welcoming policy for crypto institutions to establish themselves in the region initially was met with skepticism. This was mainly due to speculations of China’s influence and control over the industry from behind the curtains. Reports even suggested that Hong Kong was being used by Beijing as a sandbox, which itself had imposed a blanket ban on digital assets. This was a cause for concern among many stakeholders. However, these concerns were superseded by the pros that the country offered. For one, the country offers a set of comprehensive regulations among the increasing regulatory uncertainty in the US, the largest crypto market. In the recent collapse of banks in the US such as Silvergate and Signature, Hong Kong promptly stepped in to solve the fiat on ramp and liquidity challenges for crypto companies by offering partnerships with banks in its region.