Hong Kong Financial News

10.07 / 03:09

UPS IPO Provident Ant regulatory Alibaba shares rise 5.5% amid hopes Ant regulatory crackdown is ending

Alibaba Group opened 5.5% higher on Monday after China fined its affiliate, Ant Group, $984 million for violating laws and regulations, fuelling hopes that a years-long regulatory crackdown on the fintech has ended. On Saturday, Ant Group announced a share buyback that values the company at $78.54 billion, well below the $315 billion touted in an abandoned IPO in 2020, but providing liquidity to investors.

10.07 / 02:05

UPS Reuters JPMorgan NIFTY Indian inflation data Gift Nifty flat, Asian markets rise ahead of inflation data; check out key global cues for Indian stock market

inflation data this week, including the US consumer price index, and the start of another corporate earnings season. Bond markets were volatile after a recent sell-off drove yields to multi-year highs in the US, making equities less attractive in comparison. In the US, the June CPI report is scheduled to be released on Wednesday, which is forecast to show headline inflation slowed to its lowest level since early 2021 at 3.1%, with the core easing to 5.0%, Reuters reported.

10.07 / 00:27

business Asia exchanges Job Crypto licenses Rush for Hong Kong’s crypto licenses yet to translate to jobs: Recruiters

Crypto firms may appear to have been prepping entry to Hong Kong with unabated excitement, but it’s yet to translate into in-country hires, according to recruitment executives.

09.07 / 22:13

Progressive Future Pope Francis puts stamp on Church future with new cardinals

By Philip Pullella

09.07 / 18:53

COST UPS Provident Aviat Airlines Airlines seek tech to curb emissions: Sita

New Delhi: Indian airlines are in discussions with aviation technology service provider Sita to adopt solutions for reducing carbon emissions and increasing fuel efficiency, said Sumesh Patel, president of Asia Pacific, Sita, in an interview. “We are in discussions with Indian airlines to look at various solutions, which can help them in operational efficiency and reduce carbon footprint.

09.07 / 16:19

UPS Citi Provident FIVE Citizens Dreams Backed For Hong Kong's youth, government-backed hostels offer a smidgen of housing hope

By Clare Jim

08.07 / 19:23

UPS IPO Provident Progressive Platform Mobile Buyback Ant Ant's surprise share buyback values firm at steep 75% discount to IPO

By Julie Zhu and Josh Ye

08.07 / 09:57

business Blockchain CBDC Ripple Tokens Ripple Labs Ripple Labs to revolutionize real estate industry through tokenization

Digital payments and blockchain technology company Ripple Labs has announced an initiative to transform the real estate industry using tokenization.

08.07 / 04:21

UPS Reuters Ford CEO Strategy Tesla Customer Tesla debuts customer referral in EV war's next move

ClimateDepot publisher Marc Morano discuss the EV push and how Ford is preparing another round of layoffs on ‘The Bottom Line.'

08.07 / 03:21

UPS Target Goldman targeted by Chinese media for bearish bank view

Goldman Sachs Group research after the securities firm's analysts recommended selling shares of local banks, the latest sign of official attempts to counter negative sentiment in markets as the economy slows. The market shouldn't take a bearish view on Chinese banks based on pessimistic assumptions, and negative premises are misinterpretations of the facts, according to a Securities Times report Friday, referring to a Tuesday research note from Goldman. Banks have been actively lowering their exposure to property loan risks, while local governments have stepped up efforts to ease debt risks, the Securities Times said.

07.07 / 19:53

UPS IPO Reuters Platform Tencent Fine Ant regulatory China ends Ant Group's regulatory revamp with $984 million fine

By Julie Zhu and Jane Xu

07.07 / 17:21

Provident Lowe's Target Digital CEO Platform expansion International Bakkt Targets Hong Kong, UK, and EU for International Crypto Expansion

Regulatory uncertainty in the US is driving digital assets platform Bakkt to expand internationally to Hong Kong, the United Kingdom, and the European Union, CEO Gavin Michael noted.

07.07 / 11:19

Reuters NASDAQ JPMorgan Chase ADP Markets brace for US jobs data as Fed hike looks more likely

Stocks declined as investors prepared for another round of US jobs numbers to gauge if they will back new bets for more Federal Reserve interest rate hikes.

07.07 / 09:21

UPS IPO Reuters Enterprise Fine Ant end regulatory China to end Ant Group's regulatory revamp with fine of at least $1.1 billion

Ant Group as soon as Friday, sources with direct knowledge of the matter said, bringing an end to the fintech company's years-long regulatory overhaul. The People's Bank of China (PBOC), which has been driving the revamp at Ant after its $37 billion IPO was scuttled in late 2020, is expected to disclose the fine in the coming days, the sources told Reuters. The penalty, which would be one of the largest ever fines for an internet company in the country, will help pave the way for the fintech firm to secure a financial holding company license, seek growth, and eventually, revive its plans for a stock market debut.

07.07 / 08:31

Booking NASDAQ Fighting Strategy NIFTY SENSEX Bears Bulls vs bears – Who will win the fight on Dalal Street?

Nifty has seen a classic fight between bulls and bears, with attempts to break the all-time high level seen in December 2022. While Sensex has touched an all time high, Nifty experienced consolidation at higher levels. Interestingly, the Bank Nifty index has shown more weakness compared to the Nifty.

07.07 / 06:05

Lee CoCo Lee, ‘Mulan’ and ‘Crouching Tiger’ singer, dies at 48

Hong Kong-born singer CoCo Lee, whose decades-long career in Asia led to global renown, has died by suicide, her siblings said Wednesday. She was 48 years old.

07.07 / 03:35

Reuters Tencent NetEase audit US renews audit inspection of China firms: Report

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.

07.07 / 02:05

Reuters DOW NIFTY Samsung Nikkei Indian fall Gift Nifty trades flat, Asian markets fall after sell-off on Wall Street; key global cues for Indian stock market

labour market data spurred the threat of inflationary pressures, leaving room for more rate hike by the Fed. Earlier, the minutes of the Federal Reserve’s June meeting also showed that most central bank officials would support more interest rate increases ahead. In Asia, Japanese household spending fell 4.0% in May from a year earlier, a third month of decline, government data showed, Reuters reported.

06.07 / 21:23

COMPOSITE DAX Nikkei Global stock markets plunge on interest rate hike fears

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.

06.07 / 14:59

Circle USDC USDC-Issuer Circle Looking to Launch Stablecoin in Japan

The firm behind USDC stablecoin, Circle, is looking to launch a stablecoin in Japan under new regulations that came into effect last month.

06.07 / 12:29

UPS Ethereum Digital Platform Apple Decentraland $707 Million Investment in Metaverse So Far in 2023 Despite Metaverse Land Collapse

Despite a significant downturn in the virtual world market and a drastic drop in metaverse land prices, the metaverse industry has attracted substantial investment in 2023. According to a recent report by DappRadar, venture capital funds have invested $707 million into metaverse projects this year.

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