Hong Kong Financial News

Sensex declined 188.50 points, or 0.25%, to close at 74,482.78, while the Nifty 50 settled 38.55 points, or 0.17%, lower at 22,604.85. “We expect the market to continue its positive momentum supported by healthy Domestic Institutional Investors (DIIs) and retail buying and going Q4 result season," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. The Indian stock market was closed on May 1 on account of Maharashtra Day.

As Dogecoin (DOGE) probes for a breakout to the downside of key medium-term support, DOGE token holders are venturing into a new VR ICO called 5thScape (5SCAPE) as they hunt for 1,763% returns.

Bitcoin sank Wednesday before the US Federal Reserve's interest rate call, and after a mixed launch in Hong Kong of investment products tracking the world's top cryptocurrency and rival ether. At about 1450 GMT, bitcoin slid 4.26 per cent to $57,315, having earlier plumbed a more than two-month low at $56,527.

GTRI) Wednesday said that nearly $700 million worth of India’s spice exports to critical markets are at stake due to cascading regulatory actions in many countries, as concerns are being raised about the quality of Indian spices. It cautioned that if the EU follows suit with a rejection across the bloc, it could impact an additional $2.5 billion of India’s spice exports. The US, Hong Kong, Singapore, Australia, and Malé have raised questions on the quality of spices supplied by leading Indian firms MDH and Everest. India exported spices worth $692.5 million to these countries in FY24. “This issue demands urgent attention and action to uphold the storied reputation of India’s fabled spice garden,” it said, adding that so far the response from Indian authorities has been tepid and formulaic.

India needs to address the quality issue with regard to its spice exports with urgency and transparency as the ongoing quality concerns could threaten over half of the country's spice shipments, a report said on Wednesday. Economic think tank Global Trade Research Initiative (GTRI) said that every day new countries are raising concerns about the quality of Indian spices. This issue demands urgent attention and action to uphold the storied reputation of India's fabled spice garden, it said. «With nearly USD 700 million worth of exports to critical markets at stake, and potential losses soaring to over half of India's total spice exports due to cascading regulatory actions in many countries, the integrity and future of India's spice trade hang in delicate balance,» the report said.

World stocks are mixed with most of the markets closed for a holiday stocks in the United States closed out their worst month since September

Myanmar is an evidence of China’s increasing interest in Myanmar. In his meeting with Lieutenant General YarPyae, the junta’s home affairs minister, in Beijing, Chinese Public Security Minister Wang Xiaohong said China always considers China-Myanmar relations from a strategic perspective and is trying to improve them. But the ground reality is not rosy. China has its limitations. It has brokered a ceasefire deal among warring parties in January but it wants to remain one of the most influential stakeholders in Myanmar’s political crisis. However observers feel that it is time for Association of Southeast Asian Nations (ASEAN) to play a bigger role in mediation efforts only. Raising doubts over China’s real intention. Dr. Brian Wong of the University of Hong Kong insisted on the need of a coordinated approach involving ASEAN, particularly Thailand, to foster sustainable peace in the region. Also observers have cautioned against viewing China’s role in brokering a ceasefire deal among warring factions in January, through a unilateral lens.

Despite an exciting new partnership with innovative gas credit protocol Shinami, the Aptos (APT) price was subdued on Tuesday.

The Bitcoin and Ethereum exchange-traded funds (ETFs) newly issued by China Asset Management Co. provide new investment channels for Chinese currency holders.

On a bearish day in the crypto market that was marred by a weak debut to spot Bitcoin and Ether ETFs in Hong Kong and data that reinforced expectations that the Fed will wait longer before cutting interest rates, traders looking for quick gains are flocking to on-chain shitcoin markets as they hunt for top crypto gainers today.

As Bitcoin (BTC) probes for a break below $60,000 and Ether (ETH) pushes under $3,000, crypto investors are turning to the altcoin market as they hunt for the best crypto to buy today.

Animoca Brands, a Hong Kong-based game software company, is entering the Bitcoin ecosystem with the Opal Foundation, using the Opal Protocol to build the Largest Web3 Ecosystem.

Hong Kong’s entry into the spot Bitcoin and Ether exchange-traded funds (ETFs) market saw six newly introduced ETFs record a trading volume of HK$87.5 million ($11.2 million) on their first day of trading. 

The Bitcoin (BTC) price has tumbled more than 5% on Tuesday to below $60,000 following a disappointing first day of spot Bitcoin ETF trade in Hong Kong, and following fresh US economic data that points to sticky inflation and strengthens the argument that the Fed should wait before cutting interest rates.

Stocks paused their gains amid a flurry of corporate news and earnings with traders adopting a cautious stance before the Federal Reserve’s policy decision on Wednesday.

HSBC, Europe’s largest bank, says that CEO Noel Quinn plans to retire after serving nearly five years in the post

Hong Kong on Tuesday launched trading of Asia's first spot bitcoin and ether exchange-traded funds (ETFs), moving forward in the city's race to become a regional virtual asset investment hub. The debut comes three months after the United States gave the greenlight to ETFs pegged to bitcoin's spot price, making it easier for mainstream investors to add the unit to their portfolio.

Canada and Argentina branches, ANI reported.HSBC’s Hong Kong-listed shares rose nearly 1.5 per cent in afternoon trade Tuesday, while its London-listed stock increased by 2.5 per cent in early trading, Financial Times reported.The search for Quinn’s successor is underway, with the bank considering both internal and external candidates. Quinn, 62, who also steered the banks shift in focus to Asia, will remain in his role to oversee the transition until a new CEO is appointed.

Issuers  are expecting  approximately $300 million in combined first-day inflows for the six new Hong Kong spot-crypto ETFs, with a preference for  Bitcoin  funds.

The Hong Kong Stock Exchange today announced the launch of new spot Bitcoin and Ethereum exchange-traded funds (ETFs).

These debuts mark the first launch of spot cryptocurrency ETFs in Asia, coming just three months after the U.S. introduced its first ETFs to track spot bitcoin.