Hong Kong Financial News

Manulife Financial Corp.’s Asia business posted further gains, with strong insurance sales in Japan and Hong Kong, offsetting lower earnings in its U.S. division.

heatwaves have become more frequent and intense, emerging as a significant contributor to heat-related deaths. Researchers said that this underscores the urgency of recognising their impact and severity. In the study, published in the journal Nexus, the researchers from The Hong Kong Polytechnic University analysed six available heat wave indices, including the Wet Bulb Globe Temperature (WBGT) index and Canada's humidex. WBGT index was first developed in the 1950s by the US military to prevent heat-related illnesses in training camps.

One of the warning signs that an investment banking franchise is in trouble is that memos start going round the office telling everyone that business class travel is being curtailed . It tends to be followed by strict limits on client entertainment, or even the banning of particularly popular and expensive restaurants.

Citadel Securities has got some big aspirations.Bloomberg reported earlier this month that the electronic trading firm would like to offer a white labelled trading service to banks that presumably would no longer run trading operations of their own. In return for a fee, the vision seems to be that Citadel Securities would manage technology, order analytics and execution. Banks would just need to plug in the clients.

Hong Kong-based Mox, a Standard-Charted backed virtual bank, said Wednesday that it expanded its investment options to include cryptocurrency exchange-traded funds (ETFs). This move positions Mox as the first virtual bank in Hong Kong to offer crypto-related investment products.

Equity benchmarks dropped in Japan and Australia, while futures pointed to modest gains in Hong Kong. The S&P 500 and Nasdaq 100 rose on Tuesday — following a Japan-led rebound in Asia — with both climbing 1% after a global meltdown. Wall Street’s “fear gauge” — the VIX — saw its biggest plunge since 2010.

Motherson Group is poised to enter the growing Apple supply chain network in India along with Hong Kong-based BIEL Crystal Manufactory, one of the world’s largest suppliers of glass for smartphones, said people with knowledge of the matter. This will make the Vivek Chaand Sehgal-led auto component maker the second large business group after Tata to become a vendor for Apple as part of Motherson’s plan to use its core manufacturing prowess to diversify into other segments. BIEL was established in 1989 by billionaire Yeung Kin-man in Shenzhen, China, to make watch crystals. The company says it’s one of the earliest manufacturers of glass screens for mobile devices, having begun in the early 2000s, when they were made mostly of plastic. By some estimates, BIEL currently produces glass screens for two of every three iPhones. The 51:49% alliance, the Indian company will have the majority stake, is planning to set up a greenfield manufacturing capacity in the south, most likely Tamil Nadu, with an estimated outlay of Rs 2,000-2,500 crore, said the people cited above. It aims to hit a turnover of Rs 8,000-8,500 crore in four-five years after operations start. The consumer electronics business is scheduled to come onstream in the July-September quarter.

Digital asset investment products saw outflows amounting to $528 million last week, marking the first downturn in four weeks.

Anand Mahindra's words of wisdom to investors is to «play the long game». His advice to investors is to deploy the ancient Indian practice of Pranayama, breathe deeply and look inwards. «What I see is an India that is an oasis in the world. Whose Rise will not be impeded in the medium to long term,» Mahindra said in a tweet.

Nifty on Monday almost tested the 50-day moving average of 23,840 as it fell to the day's low of 23,893.70 — courtesy index heavy weights Reliance Industries (RIL), HDFC Bank and Infosys. The 50-stock index, however, fell below its 30-DMA, replicating a rout in most Asian indices. While it managed to remain above its 50-DMA, 100-DMA, 150-DMA and 200-DMA, its sharp intraday fall dragged it below 5, 10, 20 and 30 DMAs.

Futu Securities International, Hong Kong’s largest online brokerage, has entered the cryptocurrency market by enabling retail cryptocurrency trading.

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The recent federal lawsuits against famous short seller Andrew Left draw attention to the roles that financial influencers have in guiding investors’ decision making – and the wide range in the quality of the information available online.

Japanese stocks dropped and government bond yields rose ahead of a potentially market-moving decision from the nation’s central bank, the highlight of an event-packed day in Asia. Equity benchmarks dropped more than 1% in Japan. Those in South Korea climbed, buoyed by gains in Samsung Electronics Co. after the chipmaker reported its fastest pace of profit growth since 2010. Contracts for Hong Kong were little changed.

HONG KONG : Chinese leaders said they would take more aggressive steps to boost consumer spending and head off a worsening set of economic challenges, signaling rising concern about flagging momentum in the world’s second-largest economy. The Communist Party’s top policymaking body, the 24-member Politburo, pledged more measures to boost household income and reduce funding costs for companies, though the report from the state-run Xinhua News Agency offered few specifics on what it is planning.

World shares are mixed ahead of key central bank meetings around the world

In the midst of fluctuating global policies and influential endorsements, Bitcoin’s future is drawing intense speculation and interest.

Asian stocks opened lower amid speculation investors are trimming some of their holdings before a rush of events in coming days including major central bank decisions, key economic data and earnings from US megacap companies. Equities slipped in Japan and Australia in early trading, while futures signaled a decline in Hong Kong. US stock futures edged lower in Asia hours following a rotation in the American shares that drove the Nasdaq 100 to the brink of a correction. The S&P 500 closed little changed and small caps slipped.

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, started the week on a bullish note, remaining above $69,000.

Shares of Biogen slid Friday after a European regulatory committee said the Alzheimer’s treatment Leqembi should not receive marketing approval

Hong Kong legislator Johnny Ng has proposed that Bitcoin be used as an official financial reserve for the region.