Hong Kong Financial News

Bitcoin price action, this week has given some refreshing developments that could potentially change the course of the crypto market. From Trump’s aggressive appointment plans to appoint pro-crypto regulatory leaders to nations like China, Brazil, Morocco, and Hong Kong taking a more bullish stance on digital assets, here’s what happened in crypto over the week. Trump’s Plans for the Regulators:

The United States on Monday launched its third crackdown in three years on China's semiconductor industry, curbing exports to 140 companies to stymie China's ability to access and produce top-line chips. «It was not a blanket ban, or as stringent as people first feared. So that, to me, is a positive,» said Tai Hui, Asia chief market strategist at JP Morgan Asset Management in Hong Kong.

Shares have started the week higher in Asia, led by gains in China as monthly surveys showed improving conditions for manufacturing

Subscribe to enjoy similar stories. Saudi Arabia’s unprecedented attempt to diversify from an oil economy to something more sustainable seems to be churning along nicely. The female labour participation rate has nearly doubled to 36% from 2016, the year Crown Prince Mohammed bin Salman laid out his Vision 2030.

HSBC Holdings' board has appointed headhunters to start the recruitment of its next chairman to succeed Mark Tucker, Sky News reported on Saturday. The London-listed, Asia-focused bank will consider both existing non-executive directors and outsiders to succeed Tucker, the report said, citing sources. The bank has appointed headhunters including MWM Consulting to run the process, the report added.

Many older Chinese are looking beyond traditional care homes, worried about abandonment and quality issues

Justin Sun created waves on Friday by fulfilling a quirky promise: eating a $6.2 million Rs 52,45,89,440) artwork titled Comedian, featuring a banana duct-taped to a wall. This unusual event took place at the luxurious Peninsula Hotel in Hong Kong, drawing a crowd of journalists and influencers eager to witness the spectacle. According to Associated Press, the artwork, a conceptual piece by Italian artist Maurizio Cattelan, was purchased by Sun during a Sotheby’s auction in New York. Reflecting on his acquisition, Sun admitted to a moment of disbelief upon winning the bid. “In the first 10 seconds, I couldn’t believe it,” he shared. “But soon after, I realized this could become something big.”

Justin Sun on Friday fulfilled a promise he made after spending $6.2 million on an artwork featuring a banana duct-taped to a wall — by eating the fruit. At one of Hong Kong's priciest hotels, Sun chomped down on a banana in front of dozens of journalists and influencers after giving a speech hailing the work as «iconic» and drew parallels between conceptual art and cryptocurrency. «It's much better than other bananas,» Sun said after getting his first taste.

Asian shares are mixed after U.S. markets were closed for the Thanksgiving holiday

World shares are mixed after losses for big technology stocks pulled major indexes lower on Wall Street

bond yields slipped as traders took to the sidelines ahead of the US Thanksgiving holiday. Shares in Japan swung between gains and losses while those in Australia climbed alongside Hong Kong equity futures. Contracts for US stocks edged up after the S&P 500 fell 0.4% Wednesday, retreating from a record high in the prior session. The Nasdaq 100 dropped 0.9% as tech stocks weighed on the US market. Nvidia Corp. and Tesla Inc. were among the hardest hit big-tech companies.

World shares are mixed with Chinese stocks leading gains after U.S. stocks rose to records despite President-elect Donald Trump’s latest talk about tariffs

Asian shares have mostly declined as worries spread over President-elect Donald Trump's comment that he plans to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office

IIM Ahmedabad has wrapped up the summer placement process for the MBA Class of 2026 of the Post Graduate Programme (PGP) in Management, with 38% of students getting placed in the consulting sector, followed by 22% in banking, financial services and insurance (BFSI), 11% in consumer goods and durables and 7% in conglomerates, according to a statement issued by the institute on Monday. Firms from multiple domains participated across the three clusters in Summer Placements, with all students being placed across more than 25 cohorts of firms that visited. Despite challenging market conditions, the institute saw a rise in recruiting firms, and roles being offered. 51 new companies participated in the 2024 summer placements, up from 12 in 2023. In Cluster-1, in the Transformation & Operations Consulting cohort Accenture Strategy was the largest recruiter with Accenture Strategy’s India Market Unit extending 6 offers and Accenture Strategy Global Network making 33 offers followed by Vector Consulting Group with 7 offers. In the Management Consulting Cohort, Boston Consulting Group (22), McKinsey & Company (15), Bain & Company (14) were the top recruiters. In the Investment Banking & Markets Cohort, Goldman Sachs (11) and HSBC (India and Hong Kong) (6) were the top recruiters. EY-Parthenon India (8) led the charge in the Advisory Consulting Cohort. The Private Equity/Venture Capital Cohort was led by WinZO Fund (6) and White Oak Capital (3).

Subscribe to enjoy similar stories. Leading China hawks in the U.S. House of Representatives are calling for a rethink on whether Hong Kong should continue to enjoy the cozy banking relationship it has with the U.S., saying the city is becoming a hub for money-laundering and sanctions evasion.

Shares are mostly higher in Asia, tracking last week's gains on Wall Street

A senior Chinese official says higher tariffs on Chinese exports will backfire by boosting prices paid by consumers

Nvidia CEO Jensen Huang said Saturday that his company will balance legal compliance and technological advances under the incoming administration of Donald Trump, and nothing will stop the global advancement of artificial intelligence.

Nvidia CEO Jensen Huang told graduates and academics that «the age of AI has started» in a speech on Saturday, after receiving an honorary doctorate degree in engineering from the Hong Kong University of Science and Technology.

Shanghai Composite posting their biggest single-day losses since Oct. 9, dragged down by big tech firms' disappointing earnings and investors' fears over U.S. President-elect Donald Trump's future policies on China. The Shanghai Composite index closed 3.06% lower at 3,267.19.

Asian stock rise following gains on Wall Street after market superstar Nvidia and other companies said they’re making even fatter profits than expected