Hong Kong Financial News

Standard Chartered Bank-backed digital assets custodian Zodia Custody, has integrated Metaco network’s global crypto storage services.

Asian shares are mixed as investors await a slew of U.S. economic data set for release later in the week

A Hong Kong court has postponed a court hearing on troubled Chinese property developer Evergrande’s winding-up petition to Jan. 29

By Summer Zhen

China business and expand aggressively in the face of a consumer slowdown and geopolitical tensions seems risky — but the potential pay-off is great, analysts say. Last month, the US-based burger maker cut a deal to repurchase the 28% stake in its China business Carlyle Group took in 2017, giving it a 48% share in $6 billion worth of operations that include Hong Kong and Macau. The move contrasts sharply with the prevailing trend of multinational corporations reeling back investments in China or even exiting altogether because of geopolitical and economic challenges. One advantage for McDonald's: its majority partner in the China business, CITIC, provides top-level political cover, said Jason Yu, greater China managing director of market research firm Kantar Worldpanel. «Having a very powerful Chinese state-owned conglomerate as a partner means they are not going to be at the forefront of the geopolitical situation; that is quite important,» Yu said. McDonald's China, Carlyle Group and CITIC declined to comment. Other consumer-facing U.S. firms, including Starbucks, Apple, Coach owner Tapestry and sportswear giant Nike, have remained similarly dedicated to the China market. Starbucks and Nike, which face increased competition from lower-priced domestic competitors, show the need to stay agile in order to protect and grow market share, analysts say. The coffee giant is sticking with expansion plans and launched a smaller cup size; Nike, by contrast, has offered localised, higher-end sneakers such as its «Year of the Rabbit» Dunk Lows. McDonald's has used funds from the Carlyle investment to double its restaurant count since 2017 to 5,500, and the country has become its second-largest market.

By Clare Jim and Xie Yu

Tata Power, GAIL, LIC, Suzlon, Eicher Motors, Hero MotoCorp, among others, will be in focus in today's trade.On Friday, the Nifty50 surged to a fresh all-time high higher-than-expected GDP data and positive interest outlook in the US.At close, the Sensex was up 492.75 points, while the Nifty added 134.70 points to end at 20,267.90.GIFT Nifty futures rose 145 points, or 0.70%, to 20,638.50, indicating a strong open for Indian markets.Asian shares started strong on Monday while gold hit another record high in a busy week for economic data that will test market wagers for early and aggressive rate cuts from major central banks next year.Hong Kong stocks opened slightly higher Monday morning following a positive lead from Wall Street, with traders keeping tabs on a court hearing over a creditor request to wind up battered developer China Evergrande.Australian shares on Monday hit their highest in 2-1/2 months, as traders found comfort in signs that the U.S. central bank was done with its monetary tightening, while investor focus was also on the Reserve Bank of Australia's policy meeting due this week.The S&P/ASX 200 index was up 1.2% at 7,157.700 points, as of 0052 GMT, hitting its highest level since Sept.

TAIPEI (Reuters) — Taiwan President Tsai Ing-wen appealed to voters on Sunday to think of what had happened to Chinese-controlled Hong Kong when they cast their ballots next month, saying peace must be backed up with a commitment to boost defences.

Hong Kong court will convene a hearing on Monday on troubled Chinese property developer Evergrande's plans for restructuring its more than USD 300 billion in debts and staving off liquidation. The company, the world's most indebted property developer, ran into trouble when Chinese regulators cracked down on excessive borrowing in the real estate sector. Last month, the company said Chinese police were investigating Evergrande's chairman, Hui Ka Yan, for unspecified suspected crimes in the latest obstacle to the company's efforts to resolve its financial woes.

full-time job offers, including pre-placement offers, with around 450 unique selections by the end of Day 1 of the placement season on Friday. Many students also received multiple job offers. Like many old IITs, the ongoing placement season at IIT Delhi for the academic year 2023-24 kicked off on December 1 and will continue till May for full-time hiring of undergraduate and postgraduate students.

equity gauges Friday towered above shrinking benchmarks in export-focused Asian economies to leap to a record, with higher-than-expected economic growth, softer energy prices and subdued US bond yields drawing both overseas and local funds to domestic risk assets. Traders have factored in victories for the BJP in the latest round of state polls and their results, to be announced Sunday, may have a bearing on the short-term directional trend for stocks, although most analysts believe the indices will climb through December. The Nifty gained 134.75 points, or 0.67%, to close at 20,267.90, after an intraday high of 20,291.55. The Sensex climbed 492.75 points, or 0.74%, to close at 67481.19.

HONG KONG (Reuters) — A key offshore creditor group of China Evergrande (HK:3333) Group supports keeping the developer operating, the South China Morning Post (SCMP) reported ahead of a court hearing on Monday that could decide to liquidate the indebted firm.

Indians might be holidaying overseas this Christmas-New Year season than last year as relatively cheaper fares and packages, better connectivity, and easier entry requirements have made the proposition more compelling. Tour and travel companies such as Thomas Cook, SOTC and EaseMyTrip have seen up to 30% uptick in demand for short-haul international routes compared to last year. Packages for many of these destinations are comparable with those for popular domestic spots, as some countries are actively wooing Indian travellers with visa-free entry and by nudging airlines to offer easy connectivity at affordable rates. Consider this.

HONG KONG—Investing in China has never been this perilous. When global investors flocked to the country during its economic boom in the past decade, geopolitical risks were at the back of their minds. Such risks are now a top consideration for buyers of Chinese stocks, bonds and stakes in private companies—and are turning many people off investing in China.

stock positions occurred during Thursday's (November 30) trading session, where Alibaba's market value slipped below that of PDD. This is a significant turn for an industry Alibaba once dominated for over a decade. During Hong Kong intraday trading, Alibaba experienced a 1.4 percent decline, causing its market value to briefly fall to around $187 billion, momentarily placing it beneath US-listed PDD Holding's valuation of $188.3 billion, Bloomberg reported.

(Reuters) -A group of offshore creditors to China Evergrande (HK:3333) Group is asking for a controlling equity stake of the developer and two of its Hong Kong subsidiaries as part of company's revised debt restructuring proposal, a source familiar with the matter said on Friday.

RBI is now in talks with its counterparts in the US and Hong Kong, besides the Society for Worldwide InterBank Financial Communications (Swift), the global financial messaging system, on the prospects of launching digital cross-border settlements. The goal is to make global payments faster and cheaper for both individuals and companies. This is not just forward-looking move but a logical one, too, especially since India appears to have done the hard yards on launching a central bank digital currency or CBDC.

Investing.com-- Most Asian stocks retreated on Friday, seeing a measure of profit taking after clocking strong gains through November, with focus now turning to an upcoming address from Fed Chair Jerome Powell for more cues on interest rates. 

Crypto-friendly Swiss-based SEBA Bank AG has announced its new brand identity: AMINA Bank AG.

Hong Kong’s government says more banks based in the country are preparing to join Mainland China’s digital yuan pilot.

An official survey of Chinese manufacturers shows that factory activity contracted for a second straight month in November