Hong Kong Financial News

equity markets to record highs in the current financial year. The benchmark Nifty 50 index has delivered 10.5% returns since 1 April, and has outperformed the equity indices of several countries, including China, Mexico, Brazil, France, Canada, South Korea, Australia, Germany, the UK and Hong Kong. The benchmark indices of these countries have delivered returns between -8.2% and 2.9%.

Cryptonews Podcast host Matt Zahab sat down for an exclusive interview with Bobby Lee, the Founder and CEO of Ballet, the cryptocurrency company behind the REAL Series Cold Storage.

United States hailed «open and productive» discussions between China's foreign minister and Secretary of State Antony Blinken in Laos on Saturday in which Blinken raised US concerns over Beijing's «provocative actions» around Taiwan.

capital gains tax rates is a welcome and logical change by the government. Under the new tax rules, stock investing will now attract a 12.5% Long-term capital gains tax (previously 10%) and 20% Short-term capital gains tax (previously 15%). Excluding tax havens such as Hong Kong, Singapore and the UAE, India’s capital gains tax remains one of the lowest globally, especially as the amount of capital gains increases. And as Finance Secretary Somnath explains, analysis of the tax base shows that capital gains tax doesn’t really impact the middle class. 88% of the capital gains income is earned by individuals with an income above Rs. 15 Lakh and 62% by those with an income greater than Rs 1 crore. The investing community in India is a minority demographic that benefits from a tax rate much lower than the marginal rate, a standard tax rate for income earned by salaried and other business incomes. Even with the new rates, we’re still much below the marginal tax rate.

Raynald Aeschlimann, president and chief executive officer of watch company Omega, owned by the Swatch Group AG, spoke exclusively to Mint virtually about India as a market and the promise it holds. For the entire group, South Korea, India and the United Arab Emirates also considerably outperformed the previous year. The shift away from China—the largest consumer of luxury in the world—has impacted Swatch, Omega's parent, which reported lower half-yearly sales from a year ago.

Some U.S. states are scrapping investments in Chinese companies amid tensions between countries with the world's largest economies

Interpol has issued a “red notice” for two Hong Kong citizens who promoted cryptocurrency investments and sold crypto mining machines.

Asian shares have dropped morning trading, with Tokyo’s benchmark losing more than 1,000 points at one point, as pessimism set in over the Wall Street nose-dive

A lawyer says activist publisher Jimmy Lai will testify in his defense at his Hong Kong national security trial

Chinese scientists studying the soil samples of the moon brought by Chang'e-5 mission found water molecules in lunar soil, according to the Chinese Academy of Sciences (CAS). The research — carried out jointly by researchers from the Beijing National Laboratory for Condensed Matter Physics and the Institute of Physics of CAS and other domestic research institutions — was published in the peer-reviewed journal Nature Astronomy on July 16, the Hong Kong-based South China Morning Post reported.

Bitcoin (BTC) has struggled to maintain its upward momentum. Recently, it lost traction around the $66,560 level, hitting an intra-day low of $66,416. However, an upward trendline suggests a Bitcoin price prediction.

Hedging is back as investors fret over concerns about everything from the US presidential election to second-quarter earnings, economic growth and interest rates. The Cboe Volatility Index, a gauge of options prices, surged the most in more than a year last week as stocks sank with growing calls for Joseph Biden to quit the presidential race. Now that he's done so and thrown US politics into uncharted territory, futures on the gauge have slipped after earlier climbing as much as 1.8% in Asian trading. October contracts, which measure swings around the vote, rose even more in Hong Kong.

Digital asset investment products saw a substantial inflow of $1.35 billion last week, bringing the total inflows over the past three weeks to an impressive $3.2 billion.

Hong Kong is introducing a new Bitcoin exchange-traded fund that allows investors to bet against the cryptocurrency, even as the market reaches near 6-week highs.

Hong Kong's CSOP Asset Management said it will launch the CSOP Bitcoin Futures Daily (-1x) Inverse Product on the city's stock exchange on Tuesday morning.

Cryptocurrency exchange HKX has decided to withdraw its license application from the Hong Kong Securities and Futures Commission (SFC), becoming the latest exchange to do so.

dollar slipped and Asian stocks fell after Joe Biden ended his reelection campaign and endorsed Vice President Kamala Harris. China’s central bank cut a key short-term interest rate. A Bloomberg gauge of the US currency’s strength fell 0.2% Monday after the US President bowed to pressure from the Democrats and pulled out of the November election race, while the Mexican peso climbed. US stock futures gained.

₹1,200 crore. It presented an enviable opportunity for both Jumbo and United Breweries. As it turned out, Chhabria used Mallya as collateral.

The mastermind behind the collapse of the digital currency platform AAX has been arrested after evading authorities for 20 months.

Crypto market maker Wintermute Trading is currently engaged in discussions to conduct a new fundraising round.

Anatoly Legkodymov, the Russian founder of Hong Kong-registered crypto exchange Bitzlato, has been spared further jail time after his exchange processed over $700 million in illicit proceeds from the Russian dark web.