Hong Kong Financial News

18.08 / 02:39

Lowe's NIFTY SENSEX Fitch Nikkei 5 things that changed for market overnight: Gift Nifty, China’s property crisis to global market cues for Sensex today

Indian stock market is expected to open lower on Friday following selloff in global markets as rising treasury yields weighed on investors’ risk appetite. The Asian markets traded lower following an overnight decline on Wall Street after the treasury yields spiked. Concerns over China’s economic slowdown resurfaced and sentiment weakened after property developer Evergrande filed for bankruptcy protection in the US.

18.08 / 02:09

UPS country Chinese real estate giant Evergrande files for bankruptcy

China Evergrande, which is the world's most heavily indebted property developer and became the poster child for China's property crisis, on Thursday filed for protection from creditors in a US bankruptcy court. The company sought protection under Chapter 15 of the US bankruptcy code, which shields non-US companies that are undergoing restructurings from creditors that hope to sue them or tie up assets in the United States. An affiliate, Tianji Holdings, also sought Chapter 15 protection on Thursday in Manhattan bankruptcy court.

17.08 / 22:41

UPS country China Evergrande seeks Chapter 15 protection in Manhattan bankruptcy court

By Jonathan Stempel, Dietrich Knauth and Manya Saini

17.08 / 19:35

COST DOW COMPOSITE DAX rate hikes Stock market today: Global shares sink after Fed notes dent hopes of rate hikes ending

Global stocks have followed Wall Street lower after notes from a U.S. Federal Reserve meeting dented hopes that interest rate hikes are finished

17.08 / 17:31

UPS Citi Waves Manufacturing country Samsonite says it grew 40 pc in first half of 2023; eyes Rs 3,600 crore sales by December

Samsonite has grown close to 40 per cent in the first half of 2023 and it aims to touch Rs 3,600 crore sales by December, a top company official has said. Samsonite, having 35 per cent share in the Rs 15,000-crore domestic organised luggage market, leads the premium segment with its various products labelled with the original name as well as under the brand of American Tourister.

17.08 / 13:51

Government Adoption regulation Web3 Banks Hong Kong’s crypto stance: Execs weigh in on Web3 in the region

The Chinese special administrative region of Hong Kong is aiming to become a leading crypto hub, as the region started to promote the development of Web3. At the same time, its securities regulator has begun to actively regulate the crypto space, awarding licenses for retail crypto trading.

17.08 / 12:23

Provident Manufacturing Enterprise China Market Glossary: Key terms one should know about Chinese economy, latest market selloff

Global investors have raised concerns about China's economy as a confluence of recent events has darkened its economic outlook. To understand the China market sell-off in a better way, here is a glossary of terms one should know around Chinese markets: Beijing Stock Exchange: The stock exchange was established in September 2021 in Beijing, China. It is one of the three main stock exchanges operating in mainland China.

17.08 / 08:15

Provident Lowe's Moodys country folk Explainer Explainer - Country Garden: How bad is China's property crisis?

By Clare Jim

17.08 / 07:37

COST Target COMPOSITE TJX rate hikes Stock market today: Asia follows Wall Street lower after Fed's notes dent hopes of rate hikes ending

Asian stocks have followed Wall Street lower after notes from a U.S. Federal Reserve meeting dented hopes interest rate hikes are finished

17.08 / 06:21

business Ethereum CME Asia Bitcoin CME Group to launch BTC, ETH reference rates aimed at Asia's investors

Derivatives marketplace CME Group is launching Bitcoin (BTC) and Ether (ETH) reference rates for the Asia Pacific region, in another sign of growing institutional interest in crypto from Asia.

17.08 / 04:47

UPS Compilation electronic Lenovo Q1 revenue misses, hit by poor PC demand

HONG KONG (Reuters) — China's Lenovo Group (OTC:LNVGY) on Thursday posted a worse-than-expected 24% fall in revenue for the April-June quarter, hit by a prolonged slump in global demand for personal computers.

17.08 / 04:47

Lowe's COMPOSITE Fitch KOSPI show country Asian stocks Asian stocks sink as Fed fears batter tech, China concerns grow

Investing.com-- Most Asian stocks fell on Thursday after hawkish signals from the Federal Reserve spurred deep losses in technology stocks, while weak economic readings fueled more concerns over a Chinese economic slowdown.

17.08 / 03:05

Lowe's Target Nov MSCI show performer Asian stocks Asian stocks hit 9-month lows on worries over China economy, US rates

MSCI's broadest index of Asia-Pacific shares outside Japan slid to 495.03, its lowest since Nov. 29. It was last down 1.14% at 497.11, with the index down 8% for August and set for its worst monthly performance since September.

17.08 / 02:17

UPS Waves Manufacturing CEO cover Samsonite India sales rise 38%

NEW DELHI : Luggage maker Samsonite reported nearly a 38% jump in sales in India in the first half of 2023, a strong indicator of the travel boom translating to sustained demand for hard luggage and travel bags. During the first half of 2023, Samsonite International SA, which covers the Southeast Asian markets for the luggage maker, said net sales in India jumped 38% (constant currency) in India. Net sales in China grew 99% in the same period, the company said in its earnings release for the six months ended 30 June, filed on Wednesday in Hong Kong.

17.08 / 02:17

Reuters Progressive NIFTY SENSEX Fitch show 5 things that changed for market overnight: Gift Nifty, US Fed minutes to global market cues for Sensex today

Sensex and Nifty closing marginally higher. “The market has been witnessing pressure on account of weak global cues especially because of the faltering of the Chinese economy and Fitch's warning to downgrade US midsized banks. Even on the domestic front sharp surge in inflation data and weak monsoon progress in the month of August 2023 seems to have dented the investor's sentiments," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

16.08 / 18:13

UPS Manufacturing CEO Intel Deal International A $5.4 billion international chip deal with Intel is off after greenlight from China never arrives

Intel is terminating a $5.4 billion agreement to acquire Israeli chip manufacturer Tower Semiconductor after China failed to sign off on the deal amid deteriorating US-China relations

16.08 / 16:59

UPS FIVE Cooper show country NRIs sent $112 bn home in FY23, most in 5 years

NEW DELHI : Inward foreign remittances to India grew 26% in the last financial year to $112.5 billion, clocking its highest growth in the last five years amid a rebound in economic recovery after the pandemic, showed latest data from the finance ministry. Inward foreign remittances stood at $89.1 billion in FY22, $80.2 billion in FY21, $83.2 billion in FY20, and $76.4 billion in FY19.

16.08 / 13:13

Blockchain Platform Celebrity HashKey HashKey Exchange Becomes First Licensed Retail Crypto Trading Platform in Hong Kong

Hong Kong, 3 August 2023 — HashKey Exchange has announced the official upgrade of its Type 1 and Type 7 licences, becoming the first licensed virtual asset exchange for retail users in Hong Kong. This significant milestone marks a new era in the region's cryptocurrency landscape.

16.08 / 12:19

UPS NASDAQ DAX MSCI show Global stocks slip on China data, European shares recover some ground

By Harry Robertson and Kane Wu

16.08 / 11:37

Citi Target Manufacturing TikTok show beautiful social NOT Estée Lauder’s Big Bet on China Is Looking Not So Pretty

TikTok phenomenon in the U.S. to respond faster to trends and keep rebalancing the distribution of its products to continue betting on its retail partnerships with Ulta Beauty, Target and Sephora-Kohl’s ventures, where mass beauty brands top sales. Indie brand e.l.f.

16.08 / 08:27

UPS Target Man voice A winner has emerged in the old rivalry between Singapore and Hong Kong

migrant workers who make up nearly a third of the workforce. Their contribution is a curious blind spot. Meanwhile, politics is tightly constrained, as is civil society: you may be arrested for holding up a placard with a smiley face.

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