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11 Jan Hong Kong stocks arrest 7-day slump as mainland China funds step up purchases with market trading at 14-month low

Posted at 02:55h in Asia

Hong Kong stocks jumped, snapping a seven-day slide, after mainland Chinese fund managers added to their purchases as the market reached the lowest level since November 2022 this week. Sentiment improved amid bullish trades in US and Asian equities.The Hang Seng Index added 1.4...

11 Jan Algorithmic trading platforms poised to take a hit as China’s commodity bourses tweak trading rules

Posted at 02:03h in Asia

Chinese commodities exchanges are ending the refunds paid on some automated trades, as the authorities seek to reduce volatility in markets that help set the prices that the country pays for raw materials.Two of the nation’s four main bourses, the Dalian Commodity Exchange and the...

11 Jan Hong Kong’s family office push, investment scheme and US rate cuts to spur demand for yuan assets: Standard Chartered

Posted at 00:00h in Asia

The anticipated US interest-rate cuts, the Hong Kong government’s measures to attract family offices and the coming investment migration scheme will attract investors to yuan-denominated assets this year, according to a senior executive at Standard Chartered Bank.The lender, one of the three note-issuing banks in...

10 Jan China rich list compiler Hurun clarifies Tsinghua graduate Zhang Zetian’s ranking to quell online controversy

Posted at 23:00h in Asia

The Hurun Research Institute, a rich list compiler run by Rupert Hoogewerf, has clarified its decision to list Zhang Zetian, wife of Chinese tech billionaire Richard Liu Qiangdong, as the third-richest person to have graduated from the prestigious Tsinghua University after the ranking stirred controversy...

10 Jan Bitcoin exchange-traded funds get approval from U.S. SEC

Posted at 22:14h in Canada

After a head-spinning and bizarre chain of events, U.S. financial regulators have formally approved new bitcoin exchange-traded funds. The move is being heralded as a landmark moment in the history of cryptocurrency and its acceptance into mainstream financial markets.In its approval announced on Wednesday, the Securities...

10 Jan Federal health minister says he won’t allow Florida to ‘pillage’ the drug supply

Posted at 19:18h in Canada

Health Minister Mark Holland says Florida's plan to import cheaper Canadian pharmaceuticals is a non-starter and the federal government will use its regulatory power to ensure the national drug supply does not face any shortages due to actions by a foreign state."There is no way we will...

10 Jan Global shipping rates set to surge as carriers avoid Red Sea

Posted at 19:05h in Europe

The global supply chain is feeling the fallout from Iran-backed Houthi rebels attacking vessels in the Red Sea. Freight prices are set to jump Monday, while longer transit times around Africa are disrupting and delaying deliveries of products.Vessels aren't able to come back to Asia...

10 Jan Hundreds of workers lose jobs at Amazon Prime Video, MGM Studios and Twitch

Posted at 16:53h in Canada

Online shopping giant Amazon is eliminating hundreds of positions across its video production and distribution divisions, as the company announced layoffs at Amazon Prime Video, its MGM Studios division and livestreaming subsidiary Twitch.The latest cuts come as the company has eliminated more than 27,000 jobs over the...

10 Jan China augmented reality start-up Rokid gets US$70 million in new funding round led by Hefei government

Posted at 14:01h in Asia

Chinese augmented reality (AR) technology firm Rokid has raised nearly half a billion yuan in its latest round of funding led by a local Chinese government, in a fresh indication of the backing from authorities for tech start-ups.Rokid said in a statement on Wednesday that...

Can Beethoven, Bach and Mozart help iPhone sales in China? Apple to launch classical music app on mainland amid sluggish demand for its flagship product

10 Jan Can Beethoven, Bach and Mozart help iPhone sales in China? Apple to launch classical music app on mainland amid sluggish demand for its flagship product

Posted at 13:00h in Asia

Apple will soon make its classical music app available in mainland China, expanding the US tech giant’s digital services offering in the world’s largest smartphone market where sales of the iPhone are seeing a deepening decline.The Apple Music Classical app,...

Author: admin