Asia

08 Jan China Evergrande: key executive at EV unit arrested for unspecified crimes, 3 months after founder Hui Ka-yan’s detention

Posted at 10:00h in Asia

Chinese authorities arrested a key executive from the troubled China Evergrande Group for unspecified crimes, more than three months after detaining the group founder Hui Ka-yan, presenting another major hurdle to its debt reorganisation.Liu Yongzhuo, an executive director at China Evergrande New Energy Vehicle...

08 Jan CES 2024: Chinese tech giants Alibaba, ByteDance lead China’s return to premier consumer electronics show in Las Vegas

Posted at 10:00h in Asia

Chinese companies have returned to Las Vegas for CES in full force this year, with more than double the number of exhibitors compared with last year, including big names like ByteDance and Alibaba.com, as companies try to shake off Covid-era blues with overseas growth.CES...

08 Jan Chinese stocks’ darkest days may be over as earnings rebound, property recovery seen lifting gloom in 2024 – UBS

Posted at 09:00h in Asia

The worst may be over for Chinese stocks after three straight years of losses dealt a US$1.4 trillion wipeout, as a recovery in corporate earnings takes hold amid a ramp-up in policy support in the world’s second largest economy, according to Swiss bank UBS Group.An...

08 Jan IPOs: Hong Kong’s GEM reforms likely to end second board’s 3-year drought, but will not be game-changers, analysts say

Posted at 06:17h in Asia

“The HKEX listing reforms on GEM are a good gesture to draw attention to the second board, which will help attract some smaller players to consider listing,” said Tom Chan Pak-lam, permanent honourable president of the Institute of Securities Dealers, an industry body for stockbrokers...

08 Jan From Silicon Valley to sand dunes: why Indian cryptocurrency firms are eying Dubai for growth

Posted at 04:00h in Asia

Trade between India and the UAE surged to US$85 billion last year, and both countries are exploring interoperability between their central bank digital currency (CBDCs) projects.India topped Chainalysis Global Crypto Adoption Index in 2023, and is now the world’s second-largest cryptocurrency market by...

08 Jan Boeing Max grounding goes global as carriers follow FAA order

Posted at 02:45h in Asia

“We are very fortunate this didn’t end up in something more tragic,” Jennifer Homendy, the head of the National Transportation Safety Board, said at a press conference in Portland, Oregon, on Saturday. “We’ve now determined based on our definition of substantial damage that this is...

08 Jan Hong Kong stocks slip, Tech index hits lowest since November 2022, as traders brace for weak China reports

Posted at 02:45h in Asia

Hong Kong stocks extended losses, compounding the local market’s worst start to a year since 2005, as traders braced for more reports signalling a slowdown in the Chinese economy.The Hang Seng Index fell 0.9 per cent to 16,385.72 at 9.55am local time. The benchmark...

08 Jan Exclusive | Hong Kong’s revamped cash for residency scheme to be ‘big boost’ for capital markets, family-office push, official says

Posted at 00:30h in Asia

“Many of them expressed interest in applying for residency in Hong Kong alongside their plans to set up family offices here. The trend will be a big boost for the city to develop into a global family office and wealth management hub.”Joseph Chan Ho-lim, Undersecretary...

07 Jan China’s retail property markets to benefit from consumption recovery as Beijing tops fourth quarter performance

Posted at 23:30h in Asia

Retail property markets in China’s first-tier cities showed signs of improvement in the last quarter of 2023, and experts are projecting sustained momentum in 2024, underpinned by a gradual increase in retail sales as sentiment begins to turn.Beijing’s retail property market outperformed as commercial real...

07 Jan Deriving True Wealth from Making a Difference in Other People’s Lives

Posted at 16:00h in Asia

[The content of this article has been produced by our advertising partner.]By founding the charity “Youth Arch Foundation”, training local youth and personally visiting AIDS orphans in Mainland China, Norris exemplifies the concept of “influencing other people’s lives with her own”.Changing Life’s TrajectoryNorris, who was...