Hong Kong Financial News

Standard Chartered’s Q3 results – which came out yesterday — revealed the numbers behind something many have seen going on for a while: two cities are subsiding the entire rest of the bank.

Tether, the preeminent stablecoin firm globally, has once again exemplified its resolve against illicit financial activities by freezing 32 cryptocurrency addresses, implicated in terrorism and warfare funding within Israel and Ukraine. The move showcases the intensifying collaboration between cryptocurrency establishments and global law enforcement to counteract the rising tide of digital-financed crime.

HONG KONG—Hong Kong’s government is grappling with an exodus of citizens and a plummeting birthrate. Its solution: Subsidize baby-making. The city has lost its appeal to some residents over the last four years, hurt by strict rules during the Covid-19 pandemic, anxieties about the growing political influence of Beijing, and competition from Singapore and elsewhere.

money laundering operation. The trio is accused of hacking into a payment gateway app and diverting funds to offshore accounts in Hong Kong, Singapore, and China through a hawala network. According to cops, Dighe, who possesses extensive knowledge of banking procedures due to his previous role, utilised his expertise to manipulate the system. He diverted the stolen money into various accounts before channelling it abroad.

Analysts are however hesitant to conclude that the bounce back will be sustained with geopolitical tensions and concerns over higher US bond yields continuing to cast a shadow over the markets. NSE's Nifty gained 190 points, or 1.01%, to close at 19,047.25. BSE's Sensex rose 634.65 points, or 1.01%, to end at 63,782.80. «The market has recovered due to a technical pullback after it was in the oversold category for the last six trading sessions,» said Dharmesh Shah, head, technical, ICICI Securities.

The crypto market continues its uncertain direction on shaky ground with Bitcoin struggling to maintain $34,000. For investors seeking Bitcoin alternatives, NEO, Conflux, Render, Bitcoin Minetrix, and Meme Kombat present potential avenues as leading contenders for the best crypto to buy now.

Billionaire Singapore developer Philip Ng has emerged as a last-minute impediment to TPG Capital’s $1.8 billion purchase of InvoCare, and has voted against the sale of the ASX-listed funeral provider to the private equity firm.

Chinese telecoms equipment maker Huawei Technologies has reported its profit inched higher in the first three quarters of this year despite persisting U.S. sanctions that have hindered both its sales and its purchases of advanced technology

The sudden death of China’s former No. 2 leader Li Keqiang has shocked many people in the country

By Sophie Yu and Brenda Goh

Hong Kong Police arrested 8 more people on Thursday in the JPEX scandal, taking the total of arrested individuals in the alleged fraud to 36.

BEIJING — Chinese smartphone and appliance maker Xiaomi announced late Thursday a new operating system — as it seeks to develop its ecosystem with the imminent release of its own car.

Neo, the open-source blockchain platform, has revealed its plans for the development of a new Ethereum Virtual Machine (EVM)-compatible sidechain, a move aimed at expanding its capabilities in the decentralized finance (DeFi) sector.

The BSE Sensex was trading 500 points higher, above 63,600. Nifty50 was trading above 19,000, up 155 points at around 9.50 a.m. From the Sensex stocks, Infosys, Tata Steel, M&M, NTPC, SBI and Wipro opened with gains, while only Asian Paints, UltraTech Cement, and HUL opened with cuts. Among individual stocks, Karnataka Bank rose 5% after the board of the bank approved the allotment of Rs 800 crore on a preferential basis. Meanwhile, Vodafone Idea shares traded nearly 3% higher despite its consolidated net loss widened to Rs 8,738 crore in Q2 FY24 from Rs 7,595 crore in Q2 FY23. All major sectoral indices logged gains.

Motilal Oswal Financial Services. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — October 27 Here are key global market cues for Sensex today: Asian markets rebounded to trade higher on Friday as investors weighed on key economic data in the region. Japan’s Nikkei 225 traded 0.56% higher and the Topix gained 0.6%.

Binance USD (BUSD), the stablecoin issued by Paxos for crypto exchange Binance, has seen a decline in market capitalization of more than 90% from its peak last year.

Creditors of CoinFLEX, a bankrupt exchange, sue CEO Mark Lamb and early investor Roger Ver, aka Bitcoin Jesus, alleging breach of fiduciary duty over the new exchange OPNX launch and unauthorized use of company assets.

Shares have skidded in Europe and Asia after Wall Street tumbled as bond yields tightened their chokehold

Stellantis says it plans to invest about 1.5 billion euros, or about $1.6 billion, in Leapmotor, a Chinese electric vehicle manufacturer

astronauts departed for China's space station on Thursday, paving the way for a new generation of «taikonauts» to advance the country's space ambitions in the future. The spacecraft Shenzhou-17, or «Divine Vessel», and its three passengers lifted off atop a Long March-2F rocket from the Jiuquan Satellite Launch Centre in northwest China. Leading the six-month mission was former air force pilot Tang Hongbo, 48, who was on the first crewed mission to the space station in 2021. His return to the orbiting outpost Tiangong, or «Celestial Palace» in Chinese, also set a new record for the shortest interval between two spaceflight missions by taikonauts — coined from the Chinese word for space — suggesting a faster rotation of taikonauts in coming years. Tang, from China's second batch of astronauts in 2010, had to wait more than a decade before he was picked for his inaugural spaceflight in 2021. By contrast, his fellow Shenzhou-17 crew members Tang Shengjie, 33, and Jiang Xinlin, 35, both travelling to space for the first time, joined China's third batch of astronauts in September 2020. China has already kickstarted the selection process for the fourth batch of astronauts, seeking candidates with doctoral degrees in disciplines from biology, physics and chemistry to biomedical engineering and astronomy. It is also opening the process to applicants from Hong Kong and Macau for the first time. The first and second batches of astronauts were all former air force pilots, like Tang, who joined the People's Liberation Army in 1995 at age 20.

Sensex closed 522.82 points, or 0.81%, lower at 64,049.06, while the Nifty 50 ended at 19,122.15, down 159.60 points, or 0.83%. “We expect Indian markets to remain volatile on the back of concerns over higher interest rates, ongoing Israel-Hamas war and mixed Q2 results. On the global front, investors will take cues from ECB interest rate decision on Thursday," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.