Hong Kong Financial News

Michael Novogratz’s Galaxy Digital has tokenized a Stradivarius violin valued at $9 million as collateral for a loan.

Brussels, Belgium – 3 June 2024 – EthCC (Ethereum Community Conference), the largest annual European Ethereum conference created for the community, by the community, will return for EthCC[7] from 8-11 July 2024 in Brussels, Belgium, and bring together the top minds in Ethereum to share their vision for the future of the ecosystem.

World shares have started June mostly higher, though gains in some markets were whittled back later in the day

Rail Vikas Nigam Limited (RVNL) at 11 per cent, Indian Railway Finance Corporation (IRFC) at 12.5 per cent, and Jupiter Wagons.RVNL shares reached a new record high with market capitalisation surged to ₹85,000 crore mark.Also read: Exit Polls Impact: 7 BSE Power stocks surge to record highs; Adani Power, NTPC lead with gains up to 19%Other railway stocks that saw gains included IRCON International (6.26 per cent), RITES (3.52 per cent), Indian Railway Catering and Tourism Corporation (IRCTC, up 3 per cent), and Texmaco Rail & Engineering (5.28 per cent).The railways sector is anticipated to be a leading beneficiary under the third tenure of the Modi government. Many railway stocks have given multibagger returns in the last 12 months.According to an average of 12 exit polls, the NDA is likely to win at least 363 seats this time.

Hong Kong Legislative Council member Wu Shuo has voiced criticism against Hong Kong’s cryptocurrency licensing system, citing its impact on market confidence.

British Secret Intelligence Service MI6 turned two staff members of unnamed Chinese central state organs into spies for the British government, its State Security Ministry said in a statement on Monday.

Read here: Week Ahead: Exit polls, Lok Sabha election results, RBI Policy, auto sales, among key market triggers this weekOn Friday, the Indian stock market ended with minor gains, snapping the five-day losing streak, led by gains in key heavyweights.The Sensex gained 75.71 points, or 0.10%, to close at 73,961.31, while the Nifty 50 ended 42.05 points, or 0.19%, higher at 22,530.70.“Exit polls results which indicate a clear victory for the NDA with around 360 seats completely removes the so-called election jitters which have been weighing on markets in May. This comes as a shot in the arm for the bulls who will trigger a big rally in the market on Monday.

exit polls are flashing a clear advantage to the Bharatiya Janata Party (BJP) led NDA faction, top voices on Dalal Street see a continuation of reform policies in Prime Minister Narendra Modi's third term. They expect the government's focus on infrastructure, defence, railways and other sectors to continue. According to the poll-of-polls, the National Democratic Alliance (NDA) is projected to secure over 350 seats out of the 542 contested, spanning seven phases over 48 days.

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 | Lok Sabha Elections 2024: What should retail investors do after results on June 4? Experts suggest thisThe jump in activity for blocks and placements is even more outstanding.

What are buyers saying on Amazon?Buyers praise its quality, comfort, performance, and ease of installation. They appreciate its rich appearance and effective neck and back massage.Why choose this product?Choose for its quality, comfort, performance, rich appearance, effective massage, and value for money.The HCI eGenki Full Body Massage Chair offers a luxurious and advanced massage experience.

World shares are mixed after an official survey showed Chinese factory activity weakening in May on slowing export orders

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 31On Thursday, the Indian stock market benchmark indices suffered heavy selloff amid the monthly F&O expiry and ended nearly a percent lower each, extending losses for the fifth session in a row.The Sensex plunged 617.30 points, or 0.83%, to close at 73,885.60, while the Nifty 50 settled 216.05 points, or 0.95%, lower at 22,488.65.“Nervousness ahead of the exit poll and weak global cues continue to dent sentiments. Global markets remained under pressure due to rising bond yields and denting hopes of rate cut.

The People’s Bank of China, China’s central bank, will continue to support the development of offshore Chinese yuan market and cross-border payment system.

Shares have opened higher in Europe after a retreat in Asia

The two FS giants worked with Standard Chartered-owned Hong Kong digital bank Mox and asset tokenisation tech firm Libeara on the PoC, which took place on the Hong Kong Monetary Authority's Fintech Supervisory Sandbox. It saw the first live test of the Mastercard Multi-Token Network (MTN) used for a test scenario where a Mox client wants to buy a carbon credit to offset personal carbon usage and deposit the funds for this in their bank account. In the pilot, Mox requests Standard Chartered tokenise the desired carbon credit using Libeara. Then, through the Mastercard MTN, the client’s deposit is also tokenised and an atomic swap is initiated between the two instruments. The result is a transparent, real-time transaction between Standard Chartered and Mox, with the end client receiving access to a tokenised version of their carbon credit. This can be held in a digital wallet, or used to offset their carbon footprint. Mary Huen, CEO, Hong Kong, Standard Chartered, says: "The tokenisation of real-world assets and the potential use of different forms of tokenized currency is integral to the future of the financial industry."

Sensex declined 667.55 points, or 0.89%, to close at 74,502.90, while the Nifty 50 settled 183.45 points, or 0.8%, lower at 22,704.70.Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 30“Though FII selling intensity has reduced, the caution is increasing as we near the big event outcome which is resulting in profit booking. The volatility is expected to be heightened in coming sessions, thus it is advisable to traders to stay on the sidelines and not get too aggressive.

The Hong Kong Securities and Futures Commission (SFC) has announced that it will be conducting on-site inspections of local virtual asset trading platforms (VATPs) that have not yet completed their regulatory applications after the licensing deadline of June 1.

BEIJING — Chinese travelers are increasingly opting for cheaper domestic destinations over foreign tourist spots.

Sensex declined 220.05 points, or 0.29%, to close at 75,170.45, while the Nifty 50 settled 44.30 points, or 0.19%, lower at 22,888.15.Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 29“We expect the Nifty to remain sideways to marginally positive on the back of reduced FII selling, prediction of above normal monsoon and last leg of Q4 results," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.Here are key global market cues for Sensex today:Asian markets traded mixed on Wednesday tracking a similar trend overnight on Wall Street.Japan’s Nikkei 225 gained 0.18%, while the Topix was flat. South Korea’s Kospi declined 0.26% and the Kosdaq dropped 0.44%.

Sorin Investments, an early-stage venture firm founded by former KKR India CEO Sanjay Nayar, made the final close of its maiden fund at Rs 1,350 crore, people aware of the matter told ET. The fund counts KKR cofounder Henry Kravis, and Indian family offices such as Hero Group’s Munjal family and Hong Kong-based The Caravel Group’s Banga family among its key sponsors. Sidbi-sponsored Fund of Funds for Startups (FFS) scheme, and a startup fund set up by the Uttar Pradesh state government also took part in the fundraise.

Russian commodities firms facing challenges in executing financial transactions with Chinese counterparts have turned to stablecoins.