Hong Kong Financial News

Sensex ended 371.95 points, or 0.52%, higher at 72,410.38, while the Nifty 50 gained 123.95 points, or 0.57%, to close at 21,778.70, on December 28. “Markets have been gaining for five consecutive trading sessions on the back of optimism over expected growth next year. Global markets too were supportive as investors hoped for an early rate cut in 2024.

Value Partners, a Hong Kong-based company says it has plans to tokenize gold assets and also make an entry to the much anticipated Exchange Traded Fund (ETF) market.

The Hong Kong-based digital asset exchange, HKbitEX, partners with Shanghai Technology Exchange to develop asset tokenization (RWA) solutions for tech companies, supported by China’s Ministry of Science and Technology and Shanghai municipal government.

Mr Dane Cheng, Executive Directorof the HKTB, said,“The Hong Kong New Year Countdown Celebrations is one of Asia’s most captivating countdown events, and has long been widely covered by the Mainland and international media and attracted large crowds to the performance. This year’s celebrations will be the largest that Hong Kong has ever seen on New Year’s Eve. Together with an East-meets-West musical, the performance will surely attract large crowds to enjoy the performance in person. I believe that this dazzling audiovisual extravaganza in Victoria Harbour on New Year’s Eve will boost the lively, vibrant night-time ambience across the city while showcasing Hong Kong’s unique appeal to the rest of the world." Largest-ever firework spectacle created by a world-renowned teamOn New Year’s Eve, when the countdown clock strikes midnight on the wall of the Hong Kong Convention and Exhibition Centre, Victoria Harbour will be transformed into a grand for the “New Year, New Legend" fireworks extravaganza.

Hong Kong is poised to become a leading hub for cryptocurrency exchange-traded funds (ETFs), particularly spot Bitcoin (BTC) ETFs, as anticipation grows for the approval of such ETFs in the United States. 

By Lisa Baertlein

Catch Live Market Updates here Strong domestic macro data, easing oil prices and supportive global market cues helped Indian stock market indices scale record high in the previous session. On Wednesday, the Indian equity market ended higher for the fourth consecutive session led by across-the-board buying, reflecting investors’ high-risk appetite. The Sensex ended 701.63 points, or 0.98%, higher at 72,038.43, while the Nifty 50 gained 213.40 points, or 1%, to settle at 21,654.75.

₹83 to ₹83.70," he said.Global stocks mostly rose on Wednesday with a positive year-end mood continued. The Dow Jones Industrial Average led gains on Wall Street, advancing 0.3% to finish at another all-time high of 37,665.52. In European markets, London leading the way as it closed 0.4% higher.

In a recent development that’s invigorating the cryptocurrency market, Bitcoin (BTC) has experienced a resurgence, now hovering around the $43,000 mark. This comes after a momentary dip below $42,000, with the digital currency currently trading near $42,300.

Crypto exchange Bitzlazo has temporarily suspended the withdrawal of Bitcoins from its platform.

Today, Hong Kong’s financial authorities—the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA)—unveiled their plan to implement new stablecoin regulations. Not everyone thinks this is a good development for crypto markets, however.

After a tumultuous 2022 tarnished by the collapse of industry giant FTX, Bitcoin 2023 has been a rollercoaster recovery, yet, with Bitcoin (BTC) now stood atop a +160% gain year-to-date, lets take a deep-dive into how BTC price got here.

South Korea has announced that high-ranking public officials will be required to disclose their cryptocurrency holdings starting next year. 

The Financial Services and the Treasury Bureau (FSTB), and the Hong Kong Monetary Authority (HKMA) have jointly introduced a public consultation paper outlining a legislative proposal to regulate issuers of stablecoins. This move is prompted by the increasing prominence of stablecoins within the Web3 and virtual asset (VA) ecosystems, coupled with the growing interconnection between traditional financial systems and VA markets.

Asian markets are steady in holiday-thinned trading, with some markets in the region closed for holidays

China's authority in charge of press and publications has approved 105 online games, saying it fully supports the industry after newly proposed curbs caused massive losses for major game companies

Asian shares have advanced, tracking gains on Wall Street after markets there reopened following Monday's holiday

World shares have advanced, tracking gains on Wall Street after markets there reopened following Monday's holiday

Sensex rallied over 700 points on Wednesday to scale the 72,000 mark for the first time. Nifty, too, hit a fresh all-time peak of 21,654.75 amid all-round buying in banks, auto, metals and IT stocks. The market rally was broad-based but Nifty's 1% rise left smallcap and midcap indices behind as investors found more value in bluechips after the non-stop rally seen in smaller stocks. UltraTech Cement ended over 4% higher, along with other cement stocks, after Nomura upgraded the sectoral outlook. Among bluechips, Hindalco and Bajaj Auto ended 4% higher while heavyweight HDFC Bank advanced 1%. The combined market capitalisation of all BSE-listed stocks rose by Rs 2.5 lakh crore to Rs 361.4 lakh crore. Here are the key factors behind today's rally:

China has launched its first automated digital yuan wallet-opening machine for overseas passport holders.

BEIJING — Excitement over artificial intelligence isn't yet fueling a boom in cloud services spending in mainland China.