Hong Kong Financial News

BC Technology Group, the operator of Hong Kong’s publicly listed cryptocurrency exchange OSL, has secured a significant investment from BitgetX (BGX), the Hong Kong division of the cryptocurrency services provider Bitget, although it is still pending shareholder approval.

BERLIN—The German capital has long been a lab for daring experiments in tackling the crisis of affordable housing that is plaguing city dwellers from San Francisco to Hong Kong. Anti-gentrification rules are so strict that in some neighborhoods, luxury renovations such as walk-in showers, balconies or cement tiles are turned down. Airbnb is tightly restricted while rental caps have forced thousands of landlords to slash rents.

Asian shares are trading mostly higher ahead of potentially market-moving developments, including a U.S.-China summit and data releases in the U.S., Japan and China

BC Technology Group, the operator of Hong Kong’s publicly listed cryptocurrency exchange OSL, has announced a significant investment from industry firm BGX.

Vodafone said Tuesday that it sank into a first-half loss and revenue dipped after one-off gains from asset sales were not repeated as it undergoes a vast overhaul. Net losses totalled 346 million euros ($370 million) in the six months to the end of September, Vodafone said in a results statement. That compared with profit after tax of 945 million euros in the same period a year earlier. Revenues fell 4.3 percent to 21.9 billion euros, hit by adverse foreign exchange rate moves as well as the sale of Vantage Towers, Vodafone Hungary and Vodafone Ghana last time around. But services revenue grew 4.2 percent to 18.6 billion euros. Vodafone added that its transformation plan was «progressing», two weeks after it announced the sale of its Spanish division to investment fund Zegona for up to 5.0 billion euros. In a further streamlining, Vodafone in June agreed to merge British operations with Three UK, owned by Hong Kong-based CK Hutchison, to create Britain's biggest operator with 27 million customers, as it targets an acceleration in faster 5G connectivity. «During the first half of the year, we have delivered improved revenue growth in nearly all of our markets and have returned to growth in Germany in the second quarter,» said chief executive Margherita Della Valle. «Vodafone's transformation is progressing.

Local buyout firms Anchorage Capital Partners and Allegro Funds were recognised for their dealmaking efforts at the Asian Private Equity & Venture Capital Awards 2023 awards ceremony in Hong Kong on Monday night.

Investing.com-- Most Asian stocks rose slightly on Tuesday, recovering a measure of recent losses as investors hunkered down before key U.S. inflation data, while Chinese markets lagged following weak lending activity data. 

Hong Kong-based E-gaming giant Boyaa Interactive International Limited is seeking shareholder’s approval for purchasing $100 million worth of crypto in the next 12 months.

El Salvador has introduced a $1,130 fee on travelers from 57 countries, including India, passing through its main airport. This measure, enforced since the end of October, has drawn attention due to its timing amid increasing pressure from the United States to manage migration flows heading towards its southern border. El Salvador's aviation authority has labeled the fee as an «airport improvement fee,» but the motive behind it remains unclear. Notably, the US has been urging Central American nations to take steps to control the flow of migrants reaching its border with Mexico. While El Salvador has not explicitly linked the fee to migration control, the country has acknowledged a rise in travelers from the specified nations this year. Most affected passengers are destined for Nicaragua, primarily on Avianca, a commercial airline. Nicaragua, with its lenient visa requirements, serves as a transit point for migrants from Haiti, Cuba, and Africa, aiming to reach the US. Earlier this year, an unexpected increase in migrants from Mauritania arriving at the US southern border puzzled officials. Investigations revealed travel agencies and social media influencers promoting routes through Morocco, Spain, and El Salvador before reaching Nicaragua. El Salvador's aviation authority and immigration agency lack specific data on the number of migrants from the listed countries transiting the country in 2023. The US embassy has not confirmed if it played a role in requesting the fee.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.49% higher, while Tokyo's Nikkei gained 0.36%. Australia's S&P/ASX 200 index was up 0.61%. The Japanese yen was at 151.71 per dollar in Asian hours, having touched a one-year low of 151.92 on Monday.

Tom Segura has unveiled the initial stage of his upcoming worldwide stand-up comedy tour, titled «Tom Segura: Come Together.» As disclosed by the comedian, the tour is set to commence on December 30, 2023, in Honolulu, Hawaii, and will culminate on June 15, 2024, in Bangor. Segura during an interview said that this tour is bigger and blacker than any other tours he did. Adding more, the comedian said that the name has been taken, but 'Come Together' effectively conveys the message. The comedian also said that let's unite for an unforgettable night. Segura further said that in one way or another, we're bound to create lasting memories with this event. Currently, the comedian and podcaster is completing the last leg of his recent global tour, "I'm Coming Everywhere."

Digital asset exchange, Bitget has announced its planned exit from the Hong Kong market on December 13, 2023, citing certain business concerns.

Cryptocurrencytrading platform Bitget has dropped plans to obtain a Virtual Asset Trading Platform (VATP) license in Hong Kong, citing business and market-related considerations.

Also Read: China's spending on green energy is causing a global glut The Wall Street brokerage expects India's real economic growth to be 6.5% in 2023 and 6.3% in 2024 - the highest among large economies in the region, but slightly below the Indian central bank's target of 6.5% for fiscal 2024. The benchmark Nifty 50 jumped about 31% between March 2021 and October 2023, a period during which domestic investors remained net buyers each month, helping tide over sustained sales by foreign investors.

A Hong Kong lawmaker has proposed to incorporate Bitcoin trading into the city’s licensed exchanges in the revived investment immigration program.

recession, but getting inflation back to normal levels may take several years, according to the International Monetary Fund. The growth outlook in Asia looks sour as China struggles to lure foreign investment, Hong Kong growth lags behind and Indonesian exports deteriorate. In the US, inflation expectations continued to climb as consumers anticipated higher gas prices. Separate data from the Census Bureau show how inflation is still inflicting significant financial stress for many Americans. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy: Europe Europe’s economy is unlikely to crash — even as a more-than yearlong bout of interest-rate increases tames inflation, according to the IMF.

By Kevin Buckland

Stocks in Asia rose on Monday while Treasuries and the dollar kept their composure, as investors took their lead from Wall Street's Friday rally, shrugging off a Moody's downgrade to the U.S. credit outlook. Tech stocks stood out, as they had in the U.S. at the end of last week, after the calming of long-term Treasury yields since the start of this month boosted the outlook for borrowing-dependent growth shares. U.S.

HDFC Securities. Read here: Diwali Muhurat Trading 2023: Nifty 50 jumps 100 points; Sensex closes at 65,259 Here are key global market cues Sensex today: Asian markets traded mostly higher on Monday following a tech-driven rally on Wall Street on Friday. Japan’s Nikkei 225 rallied 0.96% and the Topix gained 0.50%.

Shoppers in China have been tightening their purse strings, raising questions over how faltering consumer confidence may affect the annual Singles’ Day online retail extravaganza

A consortium of 47 countries, including the US, the UK, and Australia, have adopted a new framework for the automatic exchange of information between tax authorities.