Hong Kong’s box office managed to stage a partial recovery in the second half of 2022, despite cinemas being closed for nearly four months earlier in the year, due to US titles including Top Gun: Maverick and Avatar: The Way Of Water and a strong line-up of local movies. Total box office for 2022 came … Read more
(Bloomberg) — Bill Ackman’s revelation that he’s betting big on a collapse of Hong Kong’s pegged dollar will come across as contrarian to some in the market and mistimed to others. Most Read from Bloomberg The city’s multiple interventions to prop up its currency since May have made shorting it unprofitable, sending interbank rates higher … Read more
(Bloomberg) — A stock-market indicator is flashing an extremely rare signal that suggests Hong Kong has hit the bottom after years of Covid restrictions, a tech industry crackdown and a property-market implosion in China. Most Read from Bloomberg Strategists who study charts this week spotted an event that last happened 55 years ago: a so-called … Read more
Cardinal Joseph Zen leaves the West Kowloon Magistrates’ Courts after the verdict session in Hong Kong, Friday Nov. 25, 2022. Anthony Kwan/AP hide caption toggle caption Anthony Kwan/AP Cardinal Joseph Zen leaves the West Kowloon Magistrates’ Courts after the verdict session in Hong Kong, Friday Nov. 25, 2022. Anthony Kwan/AP HONG KONG (AP) — A … Read more
Bill Ackman, the billionaire hedge fund manager and founder of Pershing Square Capital Management, said he has taken a “large notional short position” against the Hong Kong dollar, arguing it is “only a matter of time” before the currency’s peg to the US dollar breaks. In a Twitter post on Wednesday evening in the US, … Read more
Cebu Chooks in the 2022 Chooks-to-Go Pilipinas 3×3 Quest. –CHOOKS PHOTO MANILA, Philippines– Cebu Chooks edged Manila Chooks in a tight finale, 20-18, to conquer the 2022 Chooks-to-Go Pilipinas 3×3 Quest 2.0 over the weekend, securing a slot in the Fiba 3×3 World Tour Hong Kong Masters Cebu Chooks, the country’s top-ranked 3×3 team led … Read more
The fall of crypto giants this year reignited questions about the stability of cryptocurrencies and their impact on fiat ecosystems. Hong Kong Monetary Authority (HKMA) assessed the situation and found that the instabilities of crypto assets, including asset-backed stablecoins, can potentially spill over to the traditional financial system. The HKMA assessment on asset-backed stablecoins pointed … Read more
In the wake of the recent FTX scandal, another crypto business is feeling the market effects. Genesis Block, a frontrunner for providing cryptocurrency retail services in Hong Kong, announced it will cease trading and shutter operations, according to reports. According to an email sent out to its customers by the compliance department, the company said that … Read more
With its partial autonomy, the island city of Hong Kong has traditionally served as “a gate to China” — the local trade center, backed by transparent English-style common law and an openly pro-business government strategy. Could the harbor, home to seven million inhabitants, inherit this role in relation to the crypto industry, becoming a proxy … Read more
Shares of Chinese internet giants jumped in Hong Kong, after official data showed better-than-expected October retail sales in the world’s second-largest economy. Alibaba Group Holding Ltd. BABA, +0.79% 9988, +10.63% jumped 9.8%, Kuaishou Technology 1024, +10.71% surged 8.7%, Tencent Holdings Ltd. 700, +10.28% rose 8.0% and Meituan 3690, +5.88% was up 5.8%. The Hang Seng … Read more