Hong Kong Financial News

Wall Street as investors shook off initial concerns over Nvidia Corp.’s revenue outlook. Bitcoin edged closer to $100,000 while the dollar gained. Shares in Australia and Japan advanced. An index of US-listed Chinese stocks fell 1% Thursday, running against the grain of trading in New York but partly reflecting selling in Hong Kong stocks in their most recent session.

Hinduja Group firm IIHL for acquisition of debt-ridden Reliance Capital Ltd (RCAP), sources said. DPIIT approval was required as some of the shareholders of IndusInd International Holdings Ltd (IIHL) are residents of Hong Kong, a special administrative region controlled by China. According to Press Note 3, if an entity from a nation sharing a land border with India (China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan), or if a citizen or permanent resident of any such country is the beneficial owner of an investment in India, they are required to pursue investment through the government approval route. According to sources, the green signal from the DPIIT will help take forward the resolution plan submitted by Mauritius-based IIHL, which emerged as the successful bidder by submitting Rs 9,861-crore bid for the debt-ridden financial firm.

Former Hong Kong publisher Jimmy Lai is testifying in his defense at his landmark national security trial

Asian stocks are mostly lower, despite gains on Wall Street, as worries mount over escalations in the Russia-Ukraine war

Subscribe to enjoy similar stories. HONG KONG—Jimmy Lai came to Hong Kong in 1961 as a boy smuggled on a fishing boat, a refugee who left mainland China because his mother was afraid he would starve to death in the turmoil following the Communist takeover there. He rose from child laborer to clothing tycoon and media baron, living in a colonial mansion filled with books and flowers.

An «industrial renaissance» in the U.S. is fueling demand for capital, Marc Rowan, CEO of Apollo Global Management said at the Global Financial Leaders' Investment Summit in Hong Kong.

Also Read: Russian Nostradamus issues grave warning says world is on the brink as extremely dangerous period is coming As soon as Starmer brought up these sensitive topics, Chinese officials abruptly forced British journalists out of the room. Despite attempts by Starmer's team to keep reporters present, the Chinese delegation physically removed them, reflecting Beijing’s hard stance on freedom of expression and dissent. The sensitive references to Hong Kong and Jimmy Lai particularly stung, as Lai’s trial for national security charges continues.

Trump’s planned administration. Benchmark indexes advanced in Japan, South Korea and Australia, while futures climbed in Hong Kong. The Nasdaq 100 outperformed Monday after its longest rout since January, with Tesla Inc. rising 5.6% on a news report Trump’s transition team have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department’s priorities. Nvidia Corp., which reports results this week, fell.

U.K. Prime Minister Keir Starmer says he wants a strong and durable relationship with China as he met with Chinese President Xi Jinping at the G20 summit in Brazil

Shares are mixed in Asia after U.S. stocks fell to their worst loss since Election Day

Hong Kong stocks are cheap but may miss out on the benefits of China's efforts to support its economy, analysts at Goldman Sachs said, while downgrading their recommendation on the market. «Although valuations are not demanding, Hong Kong does not offer much economic or earnings growth,» Goldman analysts said in an Asia-Pacific portfolio strategy note published on Sunday, which recommended an underweight allocation to Hong Kong.

Knight Frank India. Real estate consultant Knight Frank, in its latest edition of the Asia-Pacific Prime Office Rental Index for Q3 (July-September) 2024, said Delhi-NCR is the 6th most expensive office space rental market across the APAC region. Hong Kong SAR continues to be APAC's most expensive office market during the third quarter of this calendar year. Prime rents in the NCR remained stable in Q3 2024, while Mumbai and Bengaluru saw year-on-year (YoY) increases of 5 per cent and 3 per cent, respectively, driven by strong demand from corporates and limited new supply.

A computer expert who stole bitcoin worth billions of dollars at current prices — and then spent years laundering some of the hacked cryptocurrency with help from his wife — has been sentenced to five years in prison

Asian shares are mostly higher after U.S. stocks slipped as the rally following Trump’s election victory cooled further

Shares have opened higher in Europe after mostly falling in Asia following a report showing inflation in the U.S. was roughly as expected last month

Financial services hiring is perking up everywhere, but in Hong Kong it's looking particularly sprightly. Bloomberg reported yesterday that professionals licensed with the Hong Kong Securities and Futures Commission (SFC) increased at the fastest rate ever in the past four months.  One of those hires was at Goldman Sachs, which has just relocated a London-based MD from a rival bank who previously spent the bulk of his career in Hong Kong.

European markets opened higher on Wednesday while Asian stocks followed Wall Street lower as momentum cooled for the torrid “Trump trade” that swept U.S. markets following Donald Trump’s presidential victory

Visa said on Tuesday it was rolling out a flexible payments feature in the U.S. and the United Arab Emirates, as it looks to capitalize on the growing demand for a variety of transaction options. The «flexible credential» feature, already available in Hong Kong, Japan, the Philippines, Singapore, Thailand and Vietnam, lets customers use a single card to pay from different funding sources, the payments processor said. Customers are increasingly prioritizing convenience and flexibility in payments, especially as e-commerce flourishes, prompting companies to take proactive steps to maintain their edge in an industry being reshaped by digital disruptors.

China’s e-commerce firms reported an increase in the number of shoppers and a growth in sales for this year’s Singles’ Day shopping festival, although final figures were not publicly revealed

A former Hong Kong reporter of The Wall Street Journal says she'll sue the publication for sacking her because she joined a trade union

Asian shares are trading mostly lower, despite a rally on Wall Street in stocks seen as benefiting the most from Donald Trump’s reelection as president