Hong Kong Financial News

The project aims to explore a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks, built on distributed ledger technology (DLT) to enable instant cross-border payments and settlement. It is the result of extensive collaboration starting in 2021 between the BIS Innovation Hub, the Bank of Thailand, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the People's Bank of China and the Hong Kong Monetary Authority.

Hong Kong digital asset exchange OSL ’s Chief Financial Officer David Wu says that the government might introduce a new license to advance crypto regulation.

Adidas has launched an investigation into allegations of “compliance violations” in China after receiving an anonymous letter earlier this month accusing local executives of embezzling millions of euros

to impose anti-dumping duty on printed circuit boards (PCBs) imported from China and Hong Kong. PCBs form the base of the many integrated circuits that control electronic functions in modern automobiles.

Shares are mostly higher in Asia after U.S. stocks rallied to more records, with gains for technology companies pushing the benchmarks higher

Long-term capital gains (LTCG): Profits from the sale of equity shares held for more than 12 months are classified as LTCG. But the same for land or real estate transactions are considered LTCG if the holding period is 24 months. LTCG, from the sale of equity exceeding ₹1 lakh in a fiscal year, is taxed at 10% without indexation benefit.

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Victory Securities has joined collaboration with Virtual Seed Global (VSG) to develop regulated virtual asset fund products for investors.

Shares have opened mixed in Europe as markets recovered from shocks of recent elections across the region

Exchange operator ASX Ltd., which handles the bulk of the country’s stock trading, has approved the VanEck Bitcoin ETF which will be listed on Thursday, VanEck said in a press release on Saturday.

Consolidation is gathering pace in the alternative asset management industry as major players assert their dominance and expand. 

As Victory Securities expands with crypto services, more Hong Kong brokerages are offering virtual asset trading options.

liquidators of China Evergrande Group are investigating some of the property developer's service providers including its former auditor PricewaterhouseCoopers, to potentially recoup losses for creditors, three sources said. Evergrande, once China's largest property developer, was ordered to be liquidated by a Hong Kong court in January, after it failed to deliver a concrete restructuring plan for its $23 billion worth of offshore debt deemed to be in default.

Asian shares are mixed after Wall Street’s continued frenzy around artificial-intelligence technology nudged indexes on Wall Street to more records

Asian stocks fell on Friday as investors pondered the outlook for U.S. rates after the Federal Reserve tempered its rate-cut views even as inflation came in softer than expected, while the yen was shaky before the Bank of Japan's policy meeting. The dollar was hovering near a one-month high on the back of the hawkish tone from the Fed this week, while political uncertainty in Europe kept the euro under pressure.

Sensex gained 204.33 points, or 0.27%, to close at 76,810.90, while the Nifty 50 settled 75.95 points, or 0.33%, higher at 23,398.90.Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 14“Nifty made another new high at opening on June 13, gave up some of these gains and remained rangebound through the day. The fact that the Nifty keeps making new highs every day is assuring, but it is not able to hold on to the entire gains.

India will remain the region's fastest-growing economy, sustaining last year’s domestically driven momentum and its policy momentum is expected to continue as the new government takes charge with a reduced majority, according to ratings firm Moody’s. “We anticipate policy continuity after the general election, and a continued focus on infrastructure development and encouragement of private sector investment” the ratings firm said in a report. In the first half of calendar year 2024, Indonesia, Philippines and India led the way and should continue to outperform pre-COVID growth numbers on the back of rising exports, local demand and government spending lift.

Investing.com-- Citibank analysts opened a 30-day upside catalyst watch on BYD Co's (SZ:002594) Hong Kong shares (HK:1211) on Wednesday, stating that lower-than-feared EU import tariffs and strong domestic demand presented tailwinds for the company.

Sensex gained 149.98 points, or 0.20%, to close at 76,606.57, while the Nifty 50 settled 58.10 points, or 0.25%, higher at 23,322.95.Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 13“Nifty is witnessing consolidation for the past three days in absence of fresh domestic triggers while cautiously awaiting US CPI and US Fed policy outcome. Market is likely to consolidate in the near term with a positive bias," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.Here are key domestic and global market cues for Sensex today:Asian markets traded higher on Thursday following overnight gains on Wall Street after the US Fed interest rate decision.Japan’s Nikkei 225 rose 0.56%, while the Topix was flat.

OKX and its security partner SlowMist are investigating a major security breach that stole millions of dollars from two user accounts.

Hong Kong’s finance secretary, Christopher Hui, highlighted the flexibility offered by the in-kind subscription and redemption feature of the city’s six spot crypto exchange-traded funds (ETFs) as part of Hong Kong’s ongoing effort to establish itself as a regional cryptocurrency hub.