Hong Kong Financial News

Standard Chartered Bank (Hong Kong) is joined by Animoca Brands, Jingdong Coinlink Technology Hong Kong, RD InnoTech, and Hong Kong Telecommunications (HKT) in the Hong Kong Monetary Authority (HKMA) sandbox.HKMA says participants were chosen after demonstrating "genuine interest in developing a stablecoin issuance business in Hong Kong with a reasonable business plan".Standard Chartered and other members can now carry out testing on their operational plans, benefiting from two-way communication on the proposed regulatory requirements.Those regulatory requirements are coming into focus as HKMA and the Financial Services and the Treasury Bureau set out their consultation conclusions on the legislative proposal to implement a regulatory regime for fiat-referenced stablecoin issuers.Following a public consultation with more than 100 submissions, the pair now plan to put forward a legislative proposal "as soon as possible".Eddie Yue, chief executive, HKMA, says: “We believe that a well-regulated environment is conducive to the sustainable and responsible development of the stablecoin ecosystem in Hong Kong.”

On July 17, the Financial Services and Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) jointly announced their conclusions on the consultation process regarding the proposed regulatory framework for issuers of fiat-referenced stablecoins (FRS) in Hong Kong. These regulations will apply to stablecoin providers operating both domestically and internationally.

The new chair of Hong Kong’s leading media professional group says she lost her job at The Wall Street Journal after she refused her supervisor’s request to withdraw from the election for the leadership post

Crypto derivatives trading firm Wintermute Asia has added spot and CFD product access to oneZero network.

Hong Kong’s innovation minister says the government is testing its own ChatGPT-style tool for its employees, with plans to eventually make it available to the public, after OpenAI decided to take extra steps to block access from unsupported regions lik...

Asian stocks are mostly lower even as investors wager that the Federal Reserve will come ahead with a cut to interest rates, while Australia's benchmark hit a new record

European stocks fell and US equity futures pared earlier gains as disappointing corporate earnings weighed on sentiment.

As part of his role, Stear will oversee the equity and fixed income developed markets strategists, who provide analysis, research and market recommendations to Amundi's clients. Amundi inks M&A deal to combine US arm with Victory Capital Prior to joining Amundi's investment arm, Stear headed up the Asia research team at Société Générale in Hong Kong for four years, between 2010 and 2014. He moved on to become global head of credit strategy at Société Générale in 2014, later being promoted to head of emerging markets and credit research in 2015. Most recently, he was head of fixe...

The Hong Kong Securities and Futures Commission (SFC) has identified seven unauthorized cryptocurrency exchanges and placed them on its Alert list for conducting unauthorized activities in the region without obtaining the required licenses.

Investment in digital asset products surged last week despite market volatility, with inflows totaling $1.44 billion.

Asian shares began the week trading mixed as China reported that its economy expanded at a 4.7% annual pace in the last quarter

Asian stocks were mixed as the US dollar rose after the attempted assassination of Donald Trump reinforced bets that his chances of winning the presidential election have increased. A Bloomberg gauge of the greenback’s strength against major peers climbed 0.2% in Asia while S&P 500 contracts were little changed. US Treasury futures fell, indicating yields will rise when cash trading begins in London. Cash trading of US bonds is closed in Asia due to a holiday in Japan.

Also read: Understanding the emotional quotient of a home The process of deciding what sort of space I want is always an interesting exercise in mining my past. I’ve been cycling through all the spaces I’ve ever worked in, going as far back as the first office environment I ever experienced, which was my father’s when I was, maybe, 10 years old. He was part of the oil and gas industry in the Gulf region during its heydays, from the 1970s till he sold his businesses in 2015.

DWF Labs, a market maker and Web3 investment firm has launched the $20 million Cloudbreak Fund to support projects and founders in Chinese-speaking regions.

Hum Saath Saath Hain. “Growing up, I never had any ambition to pursue entrepreneurship. One didn’t even know what such a life entailed.

diamond exports have been faltering due to weak demand from the key market, China, and they are unlikely to stabilise unless the government provides support to the industry, the head of a leading trade body said on Thursday. India is the world's largest centre for cutting and polishing diamonds, accounting for nine out of 10 diamonds polished globally. «We're battling weak demand, particularly due to China's slow recovery from COVID-19. As a result, demand continues to fall,» Vipul Shah, chairman of the Gem and Jewellery Export Promotion Council (GJEPC), told Reuters.

The Singapore Exchange (SGX) is currently not having any plans to allow for crypto listings, per a Reuters’ report.

Japan's benchmark Nikkei 225 has surged to a record close of 40,913.65, leading markets in most of Asia higher

China’s exports beat forecasts in June, while imports grew less than expected

Hong Kong, Jul 05, 2024 -Asian markets were largely down on Friday, a day after Tokyo's indexes hit record highs as traders prepared for a key US jobs report while European exchanges edged up on calming electoral news from the United Kingdom and France. Japan's Nikkei 225 ended flat while the broader Topix index, which a day earlier surpassed its previous peak set in 1989, also shed some of its gains.

tech stocks lifted US and global shares to new highs ahead of inflation data due later Thursday. Equities in Japan and Australia and futures for Hong Kong stocks all rose, echoing the bullish pulse on Wall Street on Wednesday that led the S&P 500 and Nasdaq 100 each more than 1% higher to records. The S&P 500 has advanced in each of the past seven sessions, its longest winning streak since November, helping propel a gauge of global equities to a record.