Hong Kong Financial News

Tata Motors share price gains as brokerages maintain bullish stance; stock up 7% in one weekHaldiram’s received bids in May from a Blackstone Inc.-led consortium, which included the Abu Dhabi Investment Authority and GIC Pte, as well as from a consortium led by Bain & Co. and Temasek Holdings Pte, according to local media reports.The IPO considerations are still in the preliminary stages, and the controlling shareholders might still choose to lower their asking price and proceed with a sale, the sources added.India has become a hotspot for IPOs, raising approximately $3.9 billion so far this year—double the amount raised during the same period in 2023 and surpassing the combined totals of Hong Kong and Korea, according to data compiled by Bloomberg.Also read: Multibagger alert! Kesar India share price skyrockets over 3600% in 2 years.

Shares are mixed in Asia ahead of a decision by the Federal Reserve on interest rates

Two users fell victim to an OKX SIM swap hack that involved the theft of an undisclosed sum on June 9. The customers’ funds were stolen following a deceitful SMS notification purportedly from the exchange.

The recent termination of the US-Saudi petrodollar agreement marks a turning point that could significantly influence Bitcoin’s financial trajectory. This development disrupts a decades-long economic standard and introduces the potential for increased currency diversification globally.

HSBC China is now offering e-CNY services to its corporate clientele. The development marks it as the first foreign bank within the nation to extend services associated with the central bank’s digital currency to both retail and corporate sectors.

Saudi Arabia has joined the mBridge project to enhance cross-border payments using central bank digital currencies (CBDCs).

Motilal Oswal Financial Services Ltd, suggests that the market will remain volatile but with an upward trend, fueled by revived hopes of a US Federal Reserve rate cut in September and the allocation of key cabinet portfolios in the new Indian government. (Read the full story here.)Sensex Today Live : Indian markets were likely to be weighed down by the muted sentiment flowing from global peers as hopes of a sooner rate cut by the US Federal Reserve faded on the back of better-than-expected labour market data in the US.Notwithstanding the boost in sentiment from the formation of a new Union government in India, Gift Nifty futures was trading at 23,310, marginally ahead of Friday's Nifty 50 close of 23,290, indicating a muted to positive opening for India on Monday.Asian stocks sank on Monday as traders heavily pared back on bets for Federal Reserve rate cuts this year given a still-tight U.S.

Asian stocks sank on Monday as traders heavily pared back on bets for Federal Reserve rate cuts this year given a still-tight U.S. labour market, while a snap election call in France sparked wider political concerns and weighed on the euro. Trading was thinned in Asia with Australia, China, Hong Kong and Taiwan out for public holidays, but MSCI's broadest index of Asia-Pacific shares outside Japan still slumped 0.46%.

Asian stocks are mixed after a steady Thursday on Wall Street as markets anticipate the key U.S. jobs data that will be revealed later in the day

World stocks are mixed after a steady day on Wall Street as markets anticipate key U.S. jobs data to be revealed later in the day

China’s exports for May grew at their fastest pace in more than a year despite trade tensions, though imports fell short of analyst expectations, according to customs data released Friday

Sebi has been given 'Best Conduct of Business Regulator' award in Asia Pacific by The Asian Banker for its role in enhancing the regulatory framework for securities markets in India. The award was received by Sebi's Whole Time Member Kamlesh Chandra Varshney in a ceremony held in Hong Kong. «This authority (Sebi) has been actively working towards instantaneous settlement. In 2021, T+1 settlement was introduced in a phased manner, which was fully implemented from January 2023. This move has provided investors with faster access to their funds following trade execution and settlement, enhancing market efficiency and liquidity,» The Asian Banker said in a statement.

Julia Leung, the CEO of Hong Kong’s Securities and Futures Commission (SFC), has acknowledged Bitcoin’s staying powerin the face of market fluctuations.

Bloomberg.ALSO READ: After $2 trillion gain, Nvidia is still irresistible to many“With a total market capitalisation of about $9.2 trillion, the three most valuable tech firms have overtaken all of the nearly $9 trillion worth of stocks actively traded on Chinese exchanges excluding Hong Kong," said Bloomberg, citing data.Investors are bullish on Microsoft, Apple and Nvidia due to their powerful competitive positions, fat profit margins and strong balance sheets.Chipmaker Nvidia, the world’s second most valued company, saw its market capitalisation touching $3 trillion this week.Nvidia stock rose 5.2 per cent to end at $1,224.40 on Wednesday, valuing the company at $3.012 trillion.It advanced almost 2 per cent in New York premarket trading on Thursday after it became the first computer chip company to surpass $3 trillion in value.ALSO READ: Federal regulators grant antitrust probe into Microsoft, OpenAI and NvidiaThe chipmaker is preparing to split its stock 10-for-one, from June 7, a move that could increase its appeal to individual investors.So far in 2024, Nvidia’s stock has surged 147 per cent.In a race to dominate the AI market, Microsoft recently said that it is infusing AI features into its products and services.Earlier this week, Microsoft-backed OpenAI had said it would release a new AI model called GPT-4o which will be capable of realistic voice conversation and able to interact across text and image.The Redmond-based IT major is the world's most valuable company, ahead of Nvidia and Apple, with $3.15 trillion in market capitalisation.

Sensex surged 2,303.19 points, or 3.20%, to close at 74,382.24, while the Nifty 50 settled 735.85 points, or 3.36%, higher at 22,620.35.Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 6“We expect the market to remain obsessed with government formation exercises, with a keen eye on key cabinet portfolios such as Finance, Defense, Roads, Energy, Commerce, and Railways. With election overhang done, we expect the focus to revert to fundamentals," 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 tracking overnight rally on Wall Street amid increased interest rate cut hopes.Japan’s Nikkei 225 surged 1.12%, while the Topix rose 0.65%.

On June 4, Bitget exchange collaborated with Sumsub, an identity verification provider, to improve its security and prevent users from deepfake scams that are becoming prevalent in the crypto space.

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.

Ray Dalio said internal conflicts will be the “highlight of this year,” particularly on the issue of whether the US election result will be accepted by both parties. The policies from an administration run by Donald Trump would be very different from a Democratic one, Dalio said during a video speech at the Greenwich Economic Forum in Hong Kong Wednesday. However, on anti-China policies, there’s broad agreement between the two parties.

market for share sales including initial public offerings, and as elections come to a close, a bumper crop of deals is poised to set a record as investors seek to tap the rapid growth in the region’s third-largest economy. About $3.9 billion has been raised in India via IPOs so far this year, more than double the same period in 2023, and a tally that’s higher than the combined amount raised in South Korea and Hong Kong, according to data compiled by Bloomberg.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 5On Tuesday, the Indian stock market suffered a massive selloff after the Lok Sabha election result trends fell short of what the exit polls had predicted, spooking investors.The Sensex crashed 4,389.73 points, or 5.74%, to close at 72,079.05, while the Nifty 50 settled 1,379.40 points, or 5.93%, lower at 21,884.50.“Markets will likely shed the 'Modi premium,' causing a correction in PSU and infra stocks. Once this turbulence stabilizes, attention will shift to the core macro factors affecting India.

Thailand’s financial landscape is taking a significant step forward as One Asset Management (ONEAM) becomes the first company to launch an exchange-traded fund (ETF) in the country that offers exposure to cryptocurrencies.