Hong Kong Financial News

Hong Kong has introduced the new Capital Investment Entrant Scheme which opened for applicants on March 1. To qualify, an applicant needs to invest at least HK$30 million in permissible assets. Successful applicants can bring dependents (including spouse and unmarried children under 18) to Hong Kong and typically receive permission to stay for two years. After this initial period, they can apply for a three-year extension and subsequently request further extensions. After residing continuously in Hong Kong for at least seven years, they can apply for permanent residency as per Hong Kong law. Following the announcement of the revised «Capital Investment Entrant Scheme» by Financial Secretary Paul Chan in the government's «Budget» in February 2023, Hong Kong Immigration Limited has fielded over 1,600 inquiries regarding the scheme by December's end. This indicates significant public interest in the Capital Investment Entrant Scheme (CIES).

Three cables under the Red Sea that provide global internet and telecommunications have been cut as the waterway remains a target of Yemen’s Houthi rebels

Real estate tycoon Truong My Lan faces the death penalty for allegedly embezzling $12.5 billion

Shares are mixed in Asia after China's premier said the country's target for economic growth this year is around 5%, in line with expectations

Investing.com-- Most Asian stocks fell on Tuesday as investors collected recent profits in the technology sector, while China’s economic outlook and plans for the year spurred little improvement in sentiment towards the country. 

stocks stumbled on Tuesday, dragging Asian peers with them, as investors showed their disappointment at Beijing's plans to support the economy as its week-long annual session of parliament, the National People's Congress, got underway. Equities around the rest of the region were also on the back foot following a retreat from record highs on Wall Street overnight on signs the U.S. Federal Reserve is in no hurry to cut interest rates. U.S. stock futures also pointed lower.

On March 4, ​​Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), issued a public notice about the cryptocurrency exchange BitForex over alleged fraudulent dealings.

ALSO READ: Wall Street week ahead: Fed chair Jerome Powell’s congressional testimony, jobs report in focus In Europe, Britain’s FTSE 100 edged down 0.5 per cent at 7,643.21 points. France’s CAC 40 lost 0.1 per cent at 7,929.63.

A South Korean committee responsible for personal information matters is probing Worldcoin for collecting and processing sensitive information.

By Sarah Wu

The Hong Kong Securities and Futures Commission (SFC) issued a public warning today, urging investors to be cautious of suspicious websites impersonating legitimate virtual asset trading platforms. Two specific platforms were identified: HSKEX, impersonating Hash Blockchain Limited, operating these urls – www.hskexpro.com, www.hskex.com, www.hskexs.com and www.hskexit.com. www.oslexu.com and www.oslint.com were found impersonating OSL Digital Securities Limited.

CLSA downgraded certain stocks with stretched valuations and weaker industry spreads compared to their nemesis. The Hong Kong-based brokerage downgraded JSW Steel and Tata Steel while reiterating its underperform rating for Jindal Steel & Power. JSW Steel shares fell 3% to the day's low of Rs 818.50 on the NSE in the early trade. CLSA has downgraded the stock to 'Sell' from an earlier 'Underperform' rating while slashing its target price to Rs 730 from Rs 810. Today's correction comes on the back of a three-day rally. At 10:05 am, more than 14.27 lakh shares changed hands on the NSE with the total traded value at Rs 117.66 crore.

Investing.com-- Most Asian stocks fell slightly on Monday, weighed chiefly by caution ahead of China’s national congress for 2024, although a sustained rally in technology stocks saw Japanese markets make new highs.

Japan's Nikkei 225 share benchmark has topped 40,000 for the first time as strong demand for technology shares keeps pushing the index higher

Also Read: Week Ahead: Macro data, FII activity, global cues among key market triggers as Nifty 50 eyes 22,600 this week The Indian bourses, BSE and National Stock Exchange (NSE), held a special live trading session on Saturday, March 2, to assess the resilience of their disaster recovery systems. On Saturday, the stock market indices ended with marginal gains after hitting record highs during the day. The Sensex gained 60.80 points, or 0.08%, to close at 73,806.15, while the Nifty 50 settled 39.65 points, or 0.18%, higher at 22,378.40.

Stock Exchange has catapulted it to becoming the best- performing listed bourse in the world in the past year. Continued surge in trading volumes and signs of its equity derivatives segment picking up have driven shares of Asia's oldest stock exchange by over 400% from the same period a year ago. BSE shares, which are listed on the National Stock Exchange, closed at ₹2352.45 on Saturday. The stock hit an all-time high of ₹2,598.95 on February 5. BSE shares' 430% gains in the past year far exceeds the 35% upmove in US-based Intercontinental Exchange (ICE), the second-best performer in the pack

By Marc Jones, Xie Yu and Scott Murdoch

The government kick-started the process for additional stake sale in General Insurance Corporation (GIC Re), with roadshows in key global financial hubs including New York, Singapore, Hong Kong, Dubai and London.

By Marc Jones, Xie Yu and Scott Murdoch

The deadline for virtual asset trading platform (VATP) crypto license applications in Hong Kong has passed , with the number of applicants reaching 24, a significantly lower figure than the 70 applicants seen in a similar scheme in Singapore.