Hong Kong Financial News

Hong Kong and was moving toward a Chinese island province where it was expected to make landfall Friday, forcing many aspects of life in the region to a halt. Trading on the stock market, bank services and schools were halted in Hong Kong after the city's weather authority raised a No. 8 typhoon signal for Typhoon Yagi, the third-highest warning under the city's weather system. Yagi, with maximum sustained winds of 230 kilometers (142 miles) per hour near its center, forced more than 250 people to seek refuge at temporary government shelters and led to cancellations of more than 100 flights in the city. Heavy rain and strong winds overnight felled dozens of trees across the financial hub before the weather gradually calmed on Friday morning. The weather forecaster was expected to downgrade the typhoon signal in the afternoon.

Stocks, bonds and major currencies held to tight ranges Friday as traders prepared for US jobs data that will help determine the size of a Federal Reserve rate cut later this month. Shares in Japan fluctuated, as the yen stabilized after a rally this week, while those in Australia were little changed. Futures for US equities slipped after the S&P 500 ended Thursday lower. Pre-opening trading of Hong Kong securities was shut Friday due to Super Typhoon Yagi.

PwC) has resigned as its auditor following the property developer's recommendation, making it the latest Chinese company to sever ties with the troubled auditing firm. PwC has been in trouble over its role in auditing China Evergrande Group since the developer was accused in March of a $78-billion fraud, resulting in an exodus of clientele, cost cuts and layoffs. Country Garden has appointed Hong Kong-based Zhonghui Anda CPA as its new auditor, at least until the conclusion of its next annual general meeting, it said. «PwC is unable to fulfill the timetable requirements of the company for the publication of the audited consolidated financial statements for the year ended 31 December 2023 considering recent relevant matters,» Country Garden said in an exchange filing.

Asian markets are mixed following Wednesday’s global sell-off, as Wall Street declined in the technology, energy and other sectors

Blackstone Inc. has agreed to acquire AirTrunk in a deal valuing the Australian data centre operator at A$24 billion (US$16.1 billion), including debt and capital expenditure for committed projects.

Global stocks are tumbling after Wall Street had its worst day since early August, as a week full of economic updates got off to a weak start

Wall Street posted its worst day since the Aug. 5 rout, as weak US data and falling oil prices raised concerns about the health of the global economy. Japan led the slump, with the Nikkei 225 down over 3%. Shares also fell in Australia and South Korea, while futures pointed to losses in Hong Kong. US contracts edged lower in early Asian trading after the S&P 500 fell more than 2%, with Nvidia Corp. driving a plunge in tech stocks.

Cathay Pacific has canceled nearly 70 flights since Monday after an engine issue forced a flight heading to Zurich to turn back around to Hong Kong, according to the BBC

Passenger planes come into contact at New Chitose Airport during wintry weather conditions. (Credit: Reuters)

BEIJING — China's property struggles and U.S. sanctions have significantly affected some of its cities, even as others benefit from Beijing's tech push, Milken Institute's best performing cities China index showed Tuesday.

IIT Bombay has completed final placements with an average annual package of Rs 23.5 lakh, a 7.8% jump from last year’s average of Rs 21.8 lakh but fewer students compared to last year have landed jobs during the process, a report released by the institute has revealed. In one of the most challenging years for placements to date, about 74.5% of the 1979 students who actively participated in the campus drive have got jobs, with 1475 job offers accepted. This is compared to about 82% last year when 1845 students actively participated and 1516 job offers were accepted. This is despite 364 companies making offers, compared to 324 last year. Seventy-eight international offers were accepted in both Phases of the IIT Bombay placements 2023 — 24, while 22 offers of above Rs 1 crore per year were accepted during this drive, according to data from the institute. Around 206 students received salaries of less than Rs 10 lakh.

Asian shares are trading mixed as investors look ahead to a key report on U.S. employment set for release later in the week

Cathay Pacific has temporarily grounded its fleet of A350 aircraft for inspections after a «first of its type» engine component failure forced a flight to Zurich to turn back on Monday. Cathay is conducting fleet-wide inspection of its 48 Airbus A350 aircraft and «a number of aircraft will be out of service for several days», the airline said in a statement Monday night. The airline has cancelled 24 return flights operating up until the end of Tuesday, it added.

Artificial intelligence is beginning to allow many employers to automate functions long performed by human workers

Asian shares are mixed in cautious trading ahead of the Labor Day holiday in the U.S., when stock exchanges will be closed

Lenders to debt-ridden Reliance Capital Ltd (RCAP) have alleged that Hinduja Group firm IIHL is indulging in delaying tactics, resulting in slowdown in implementation of the resolution plan. Mauritius-based IndusInd International Holdings Ltd (IIHL) emerged as a successful bidder for acquisition of Reliance Capital. The NCLT Mumbai on February 27, 2024, approved IIHL's Rs 9,861-crore resolution plan for the debt-ridden financial firm. According to sources, lenders claimed that IIHL's move to seek approval from the Department of Industrial Policy and Promotion (DIPP) is an afterthought.

Sivarajan Solaimalai 21-13, 18-21, 21-15 in a group game on Friday, Hong Kong’s Chu Man Kai went across the net and bowed to appreciate the efforts of his opponent. The two embraced each other before walking off the court while holding each other’s hand. It was sport at its best. Although they had given their all on the court, the moment the match was over, it was all about spirit and values. The Paralympics is not just about winning or losing. The essence of Olympism (or Paralympism, if we can call it that) is not in the medals won, records broken or television rights sold.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Elon Musk and Tesla Inc. won dismissal of a lawsuit claiming they pumped up the price of the cryptocurrency Dogecoin into a $258 billion “pyramid scheme.”

Global shares are mostly higher as markets continued to be moderately optimistic about the prospects of technology companies and the relative health of global economies

Sensex and Nifty50, rebounded from a slow start to close at fresh record highs on Thursday, driven by gains in index heavyweights like Reliance Industries, as well as financial and IT stocks. The 30-share BSE benchmark Sensex advanced 349 points or 0.43% to settle at 82,134. The broader NSE Nifty gained 99.6 points or 0.40% to end at 25,152.