The world’s largest hedge fund, Bridgewater Associates, sold all of its holdings in US-listed Chinese companies in the second quarter, marking a decisive retreat from the market as geopolitical tensions and shifting investor sentiment clouded the outlook for the world’s second-largest economy. The fund exited positions in 16 Chinese stocks, which were worth US$1.41 billion…
Hong Kong police have arrested a 53-year-old man for allegedly providing his information to a fraud syndicate to create a rented ride-hailing account and are searching for three other suspects, following a passenger’s complaint about a driver without a Hong Kong ID card. Police Superintendent Li Muk-yik, who called the syndicate’s behaviour “extremely despicable”, said…
Hong Kong police have arrested two visitors from mainland China and three residents on suspicion of being part of a syndicate that recruits drivers to provide illegal ride-hailing services in the city by using tourist visas and fake identity cards. The force said on Saturday that it arrested three residents in the past two days…
China has introduced new regulations requiring makers of lithium-ion battery packs to obtain a mandatory quality and security certificate, a move that comes after the demise of a major power bank brand amid a string of fire incidents caused by faulty products. Starting Friday, power banks must carry a China Compulsory Certification (CCC), or 3C…
A ride-hailing service provider has permanently blocked a driver’s account after it was found to have been illegally used by another man in a case investigated by police. The case came to light on Monday when a passenger filmed his ride-hailing experience, with his driver admitting that he did not hold a Hong Kong identity…
Police have launched an investigation after a driver on a mainland Chinese ride-hailing platform purportedly told a passenger he was not a Hong Kong identity card holder, while the Immigration Department has also expressed worries about illegal employment activities. In a reply to the Post, the force said on Tuesday that it had received a…
Police have launched an investigation after a driver on a mainland Chinese ride-hailing platform purportedly told a passenger he was not a Hong Kong identity card holder, while the Immigration Department has also expressed worries about illegal employment activities. In a reply to the Post, the force said on Tuesday that it had received a…
An upbeat mood in global equities extended Hong Kong stocks’ winning streak to four days on Thursday, as investors anticipated a rate cut by the Federal Reserve and looked past the fallout of tariffs on economic growth. The Hang Seng Index rose 0.4 per cent to 25,001.64 as of 10.12am local time. The Hang Seng…
A mainland Chinese visitor has been jailed for two months and disqualified from driving in Hong Kong for a year after he was found to have offered ride-hailing services without the required permit. Ye Hai, 41, on Wednesday admitted to offering paid rides using the online mapping service Amap on July 7, three days after…
More than half of the world’s artificial intelligence talent comes from the US and China, according to new research, which also highlighted Hong Kong’s role as a “superconnector”. The US and China accounted for 32.6 per cent and 22.4 per cent of global AI talent, respectively, according to the latest International Finance Forum (IFF) Global…