Hong Kong Financial News

Enthusiasm surrounding a possible spot Bitcoin (BTC) exchange traded fund (ETF) isn’t just driving up the price of Bitcoin — it's also sparked a resurgence of enthusiasm for blockchain games, says Animoca Brands founder Yat Siu. 

Investing.com-- South Korea’s KOSPI index surged over 4% on Monday after the government reimposed a ban on short-selling shares in a bid to level the playing field for retail and institutional investors. 

Hong Kong is considering allowing spot exchange-traded funds (ETFs) that directly invest in cryptocurrencies.

The world should study China’s crushing of Hong Kong’s freedoms (Aug 24th) China’s slowing economy, seen from ground level (Aug 17th) Why Chinese women are denied legal land rights (Aug 10th) Also: How the Chaguan column got its name

Attendees of a Yuga Labs’ ApeFest event on Nov. 4 in Hong Kong have reported burns, damaged vision and “extreme pain” in their eyes, which they attribute to the use of improper lighting.

By Jamie McGeever

Hong Kong FinTech Week 2023

By Jack Kim

HONG KONG—Leading Western brands in China are feeling the pinch from the country’s consumer slump. From luxury cosmetics firm Estée Lauder to apparel maker Canada Goose and iPhone seller Apple, companies are reporting weak results, with some saying customers aren’t reopening their wallets almost a year after Covid-related isolation ended. Estée Lauder shares sank 17% Wednesday, hitting the lowest levels in years, after the firm behind brands such as M.A.C and Clinique, cut its fiscal year outlook—in part because of a slower recovery of sales for high-end beauty products in mainland China.

If you’re in the oddly specific position of being a managing director (MD) cut from Citi in Hong Kong, have no fear; it turns out you can find a new job pretty quickly.

If you’re a young Blackstoner in Singapore, you probably have a lot of opportunities to leave the firm to continue your career. One of them, newly launched, might be a better fit than others – Aquilius Investment Partners.

Individual creators and brands will ultimately determine the future of the metaverse as opposed to any centralized entity, according to the co-founders of The Sandbox.

Investing.com-- Most Asian stocks rose sharply on Friday, encouraged by strength on Wall Street and increased bets that the Federal Reserve was done with its run of interest rate hikes, although focus still remained on key U.S. payrolls data due later in the day.

By Kane Wu and Scott Murdoch

About 500 gigawatts of renewable generation capacity will be added this year, according to the International Energy Agency, and at least $1 billion a day is being spent on new solar additions alone. Yet companies in the sector are being squeezed by volatile costs, snarled projects, high interest rates and — in the solar sector — a rush to add new capacity that’s overwhelmed demand. Xinjiang Goldwind Science and Technology Co., the No. 1 wind turbine maker, just reported a 98% slump in third-quarter profits.

US Federal Reserve is done with interest rate hike cycle. Upbeat corporate earnings also boosted sentiment. The domestic equity indices rallied on Thursday amid positive global cues after the US Fed maintained a pause on interest rates.

The Securities and Futures Commission (SFC) of Hong Kong has issued two circulars to regulate digital asset tokenization.

Via was one of sixteen firms selected by the Hong Kong Monetary Authority in May to test potential use cases for a central bank digital currency.For its trial, Visa along with HSBC and Hang Seng Bank focused on simulating two use cases of interbank B2B payment flows — property payments and acquirer-merchant settlement - each tailored to the Hong Kong market. Visa says the pilot demonstrated the potential benefits of tokenised deposits for B2B payments in terms of payment speed, settlement risk control, network resilience, and transaction transparency.Nischint Sanghavi, head of digital currencies, Asia Pacific, Visa says: “Through the pilot programme, Visa has highlighted various potential benefits for the deployment of CBDCs, such as quicker settlements, a more seamless payment experience for high-value transactions, better transparency, as well as other benefits that come with an ‘always-on’ infrastructure.

At the KUN & Hashkey Exchange strategic cooperation signing ceremony held earlier today, Dr. Xiao Feng, the founder of Hashkey Group, announced plans to issue a stablecoin backed by the Hong Kong dollar.

Hong Kong is mapping out clear guidelines for tokenization and digital assets. The city aims to achieve a mix of innovation and consumer protection for both the developers and the users. This initiative, as part of a broader push, is steered towards placing Hong Kong at the center of fintech evolution in Asia.

Switzerland’s St.Galler Kantonalbank (SGKB), one of the largest banks in the country, is moving into cryptocurrency by introducing Bitcoin (BTC) and Ether (ETH) trading to its customers.