Hong Kong Financial News

14.03 / 21:09

ByBit SFC Hong Kong’s Market Regulator Warns Crypto Traders, as Bybit Comes Under Scrutiny

Hong Kong’s Securities and Futures Commission (SFC) cautioned crypto traders about using cryptocurrency exchange Bybit on March 14, defining 11 Bybit products as suspicious investments while listing the exchange among unlicensed operators.

14.03 / 13:43

Digital Research wellness cover testing Hong Kong invites applications for Phase 2 CBDC pilot programme

The Hong Kong Monetary Authority (HKMA) completed Phase 1 of the e-HKD Pilot Programme in October 2023 where it studied domestic retail use cases in various areas such as programmable payments, settlement of tokenised assets, and offline payments. The next phase will delve deeper into select pilots from Phase 1 where an e-HKD could add unique value, namely programmability, tokenisation and atomic settlement, as well as explore new use cases that have not been covered in the previous phase.

14.03 / 11:25

UPS Reuters Action economy country reports China probes exposure of HK units of banks, insurers to local government debt, sources say

By Selena Li and Summer Zhen

14.03 / 05:47

Tesla wellness Trade show track reports Updates Chinese NEV stocks sink tracking Fisker bankruptcy report, Tesla downgrade

Updates to correct reference to Rivian (NASDAQ:RIVN) bankruptcy report to Fisker Inc (NYSE:FSR).

13.03 / 20:39

markets UPS Trade show reports Chinese stocks slide as investors maintain caution after US inflation report

China stocks slide after the overnight United States inflation report

13.03 / 15:11

COST FIL abrdn China enters voluntary wind-up after shareholders approve Fidelity merger

At an extraordinary general meeting today (13 March), abrdn China's investors voted 99.99% in favour of the move, representing over 27.4 million votes. The merger was initially agreed back in November, which the trust suggested was in a bid to cut costs and increase the liquidity of the portfolios. abrdn Asian Income cuts management fees by 17% The combined trust will have net assets of around £1.2bn, with FIL Investment Management (Hong Kong), and current FCSS manager Dale Nicholls overseeing the newly merged vehicle. abrdn has been contacted about the future of managers Nichol...

13.03 / 05:35

markets Provident NVIDIA Trade track reports Asian stocks Asian stocks mildly positive amid tech strength, hot US CPI

Investing.com-- Most Asian stocks rose slightly on Wednesday as major technology shares tracked a rally in their Wall Street peers, although overall gains were limited as hot U.S. inflation factored into a higher-for-longer outlook for interest rates.

13.03 / 02:08

markets Reuters Research Trade recommendations Indian stock market: 8 key things that changed for market overnight - Gift Nifty, US inflation to oil prices

Sensex gained 165.32 points, or 0.22%, to close at 73,667.96, while the Nifty 50 inched 3.05 points, or 0.01%, higher to settle at 22,335.70. “Pain is likely to continue in the broader market amid stretched valuation and red flags from SEBI. Also, the mandatory disclosure format for mutual funds shared by SEBI to look at the stress situation in the funds, will be out by March 15.

12.03 / 16:13

markets COST UPS Food reports inflation data World markets today: US stocks surge after inflation data, Nasdaq up 1%

ALSO READ: US inflation rises again in Feb The core consumer price index (CPI), which excludes food and energy costs, rose 0.4 per cent from January to February, a pickup from the previous month’s figure of 0.3 per cent, according to government data released on Tuesday. On annual basis, the consumer prices rose 3.2 per cent last month, faster than January’s 3.1 per cent. The latest consumer prices data indicates that stubborn inflation remains a persistent challenge for the Federal Reserve.

12.03 / 15:42

Stablecoin Bill Trade Freedom testing gatherings Hong Kong Central Bank Unveils Sandbox for Stablecoin Issuers to Test Operations

Hong Kong’s central bank on Tuesday introduced a sandbox program for stablecoin issuers. This initiative offers a controlled environment for potential issuers to experiment with stablecoin projects in a risk-free manner.

12.03 / 12:01

Provident Digital security country testing Banco do Brasil selects G+D to test offline payments for CBDC

The tests will explore payment use cases using the Brazilian digital currency in situations where there is no internet connection or electricity grid. It will also enable payments to be made in crisis situations, such as power or internet outages, where cash was previously the only option.

12.03 / 05:27

markets UPS economy NVIDIA Trade reports Stock market today: Asian shares are mostly higher ahead of a US report on inflation

Shares are mostly higher in Asia ahead of a report on inflation in the U.S. that could sway the Federal Reserve's timing on cutting interest rates

11.03 / 19:11

Citi Platform NVIDIA Research hospital reports testing China testing AI chatbot for brain surgeons

AI assistant for neurosurgeons at seven hospitals in Beijing and other cities in coming months, one of many initiatives the government is backing to try and harness the technology. A Hong Kong-based agency under the Chinese Academy of Sciences on Monday introduced an AI model based on Meta Platform's Llama 2.0. Researchers trained and fine-tuned the model with papers, medical journals and manuals to act as a surgery consultant of sorts for doctors, said Liu Hongbin, the center's executive director. State organs are joining private Chinese firms in developing homegrown AI in the mold of OpenAI's ChatGPT.

11.03 / 15:47

markets UPS CEO JPMorgan Inside 2020 JPMorgan's new "young" investment bank head is inordinately popular

If anyone has a bad word to say about Filippo Gori, the new co-head of banking at JPMorgan, they're not saying it. Instead, all indications are that 49 year-old Gori, who was promoted last week to become co-head of banking alongside Doug Petno when Vis Raghavan left, is very popular indeed.

11.03 / 15:33

markets Platform coinbase Boeing NVIDIA Broadcom inflation data World markets today: US stocks dip as investors await inflation data

ALSO READ: Wall Street week ahead: Stock market investors to keenly watch for Feb inflation data Shares of Microsoft fell 0.8 per cent, Amazon shed 1.0 per cent, Nvidia lost 0.7 per cent, Advanced Micro Devices and Broadcom slid close to 2 per cent each, and Boeing dropped 2.2 per cent. Cryptocurrency and blockchain-related companies, including Coinbase Global, Riot Platforms and Marathon Digital, climbed between 2.7 per cent and 2.9 per cent, as Bitcoin struck a fresh record high at $72,234 on Monday. The yield on the 10-year Treasury rose to 4.09 per cent from 4.08 per cent late on Friday.

11.03 / 08:35

Hong Kong Crypto spot ETF Financial Hong Kong Financial Institutions Eye Ethereum ETFs to Bolster Global Crypto Market Position

In the wake of the successful launch of Bitcoin spot ETFs in the United States, financial institutions in Hong Kong are gearing up to tap into the growing demand for cryptocurrency investment products.

11.03 / 03:43

markets International Chinese carmaker Dongfeng slumps 11% on 2023 loss forecast

Investing.com-- Hong Kong shares of Dongfeng Group (HK:0489) fell sharply on Monday after the Chinese carmaker warned investors that it was likely to clock a loss for 2023 amid weakening vehicle sales and competition from electric vehicles.

11.03 / 03:43

markets UPS MET Progressive country information Exclusive-Chinese regulators ask large banks to step up support for Vanke, sources say

HONG KONG/SHANGHAI/BEIJING (Reuters) -Chinese regulators recently met financial institutions to discuss state-backed property developer China Vanke where they asked large banks to enhance financing support and asked private debt holders to discuss maturity extension, two sources said.

11.03 / 01:51

markets Reuters DOW economy Trade show recommendations Indian stock market: 8 key things that changed for market over weekend - Gift Nifty, Japan’s GDP to China inflation

Sensex gained 33.40 points, or 0.05%, to close at 74,119.39, while the Nifty 50 settled 19.50 points, or 0.09%, higher at 22,493.55. Market participants will now look out for several stock market triggers as the focus will shift to crucial economic data, such as inflation data releases from both India and the US, electoral announcements ahead of General Elections 2024, foreign capital inflow and other global cues. Read here: Week Ahead: Inflation data, FII activity, global cues among key market triggers as Nifty 50 eyes 22,800 this week “Investors will take cues from the outcome of the ECB interest rate meeting and US Non-Farm Payroll data.

10.03 / 14:15

Man security Bill reports Hong Kong shocker: 2 dead babies found in glass bottles by cleaner in empty apartment

FOX35 on 9 March. According to the report, published by Hong Kong broadcaster RTHK, two dead babies were found in glass bottles by a cleaner at a rented flat.

08.03 / 09:21

markets UPS economy Trade reports Stock market today: European shares mostly down after rally in Asia, as focus remains on rates

European shares are mostly declining, but Asian benchmarks finished higher after U.S. stocks climbed to records

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