Hong Kong Financial News

Taiwan's economy minister has confirmed that regulators are investigating four Taiwanese companies suspected of helping China’s Huawei Technologies to build semiconductor facilities

Asian shares are mostly higher in cautious trading after Wall Street drifted to a quiet close on worries about a too-hot U.S. job market

Hong Kong is considering measures to restrict retail stablecoin trading for individual investors in response to the increasing adoption of cryptocurrencies, as stated by a local official. It is important to note that retail stablecoin trading is currently not permitted in Hong Kong.

Asian markets posted gains Friday, shrugging off Wall Street losses ahead of key US jobs data due later in the day. Analysts say signs of a robust American economy, such as strong labour market data this week, are bad news for equities as it gives the Federal Reserve more reason to keep monetary policy tight through to the end of the year and beyond. US Treasury yields hit their highest levels since 2007 this week as investors fear high borrowing costs for businesses and consumers will eventually drag on the economy. All eyes are on Friday's monthly US employment data, which will give investors a good idea of whether recent signs of a softening in the labour market will continue. «European markets look set to open modestly higher ahead of today's US jobs report,» said Michael Hewson, chief market analyst at CMC Markets UK, «which, along with the September CPI report which is due next week could shift the odds significantly on whether we see another rate hike in November». «One other reason for the welcome retreat in yields yesterday may well have been the sharp decline in oil prices we've seen the past couple of days.» On Thursday, the Dow Jones Industrial Average finished flat, while the S&P 500 and Nasdaq index ticked lower. But Hong Kong was on the front foot Friday, with gains of about 1.5 percent by the afternoon, though Tokyo closed marginally lower. Singapore, Seoul and Manila were also up, while mainland Chinese markets were closed for a week-long holiday. London, Frankfurt and Paris all kicked off with small gains. Stephen Innes, managing partner at SPI Asset Management, said the Asian advances were «thanks partly to a drop in oil prices that benefits Asia's colossal oil-importing nations». «This

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As Hong Kong progresses with the adoption of cryptocurrency trading for individual investors, a local official stressed that retail stablecoin trading is not yet allowed.

Barclays bank to lay off over 450 employees in UK Sood, Chakka, Credit Suisse and Barclays did not comment on questions. Earlier in August, Barclays PLC named new executives to its top management in India, a major overseas market for the lender.

A look at the day ahead in European and global markets from Kevin Buckland

China has taken another step forward in its digital yuan pilot – connecting its CBDC platform to Hong Kong’s Fast Payment System (FPS).

Nifty 50 closing above 19,500. The relief rally in the Indian markets was led by healthy PMI data and falling crude oil prices. “The positive signal from the PMI data and the correction in the crude price boosted the market sentiment.

global markets on Thursday, the US stocks were little changed ahead of the jobs data, while European equities gained as bond yields and oil prices declimed. MSCI's gauge of stocks across the globe was down 0.17%. Recently, global markets were hit due to hawkish comments from central banks and strong US economic data bolstering bets that interest rates will stay elevated for a longer period.

The troubled Hong Kong-based crypto exchange JPEX is embroiled in controversy over its recent asset lock-up plan as it seeks to transition into a decentralized autonomous organization (DAO).

On October 4, the Securities and Futures Commission (SFC) of Hong Kong, in collaboration with the Hong Kong Police, announced the formation of a special group to monitor and investigate crimes related to crypto exchanges. 

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Major Indian cryptocurrency exchange CoinDCX is expanding its self-custody wallet, Okto, by integrating major on-ramp platform Transak.

Referring to the company's logistics center at the cargo airport in the city of Liege, the security service said it was working to detect «possible espionage or interference activities» by Chinese entities including Alibaba, the newspaper said.

Hong Kong Exchanges and Clearing Limited (HKEX), which operates a range of equity, commodity, fixed income, and currency markets, has unveiled an equities settlement acceleration platform called "Synapse." 

On Wednesday, October 4, Hong Kong Exchanges and Clearing Limited (HKEX) introduced an upgraded version of its Stock Connect program called "Synapse."

Hong Kong-based crypto-focused venture capital firm CMCC Global has raised $100 million aimed at supporting Asian blockchain startups. 

Embattled crypto exchange JPEX has pushed ahead with a plan that will purportedly transition the platform into a decentralized autonomous organization (DAO) and convert user assets to dividend shares with an incentive to lock them up for two years.

By Makiko Yamazaki and Kane Wu