A growing number of Hong Kong-listed firms are snapping up cryptocurrency on the back of rising bitcoin prices and the popularity of digital asset treasury (DAT) companies in the US. Investment bank China Renaissance, which helped fund many leading Chinese tech firms, and Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, are…
Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, said it was investing in the cryptocurrency ether as part of its reserve assets, as the company expands into Web3 amid Hong Kong’s digital asset initiative. To date, Hong Kong-listed Yunfeng has invested US$44 million to acquire 10,000 ether for its “strategic reserve”, according…
OpenAI CEO Sam Altman has warned that export controls alone are not an effective strategy to curb China’s development of artificial intelligence (AI). He’s absolutely right. China’s rapid ascendancy in the global AI race is becoming increasingly evident, driven by its strategic focus on engineering, application-driven development and alignment with national policy. While the US…
The Hang Seng Index rose 0.6 per cent to 25,156.89 at the noon break and was set to end a nearly 2 per cent loss accumulated over the past three days. The Hang Seng Tech Index also advanced 0.6 per cent. Trading continued to be hot on the mainland’s markets, as the CSI 300 Index…
Hong Kong stocks rose on Wednesday on renewed optimism about China’s tech industry prospects, while investors awaited global AI chip leader Nvidia’s earnings. The Hang Seng Index gained about 0.1 per cent to 25,541.43 at noon, rebounding from a 1.2 per cent loss in the previous session. The Hang Seng Tech Index climbed 0.6 per…
“We have already set a footprint in Guangzhou and we are eyeing Hong Kong,” chief financial officer Leo Wang said at a media event in the city on Tuesday. He said Pony.ai needed to work with local authorities and partners to explore the best way forward. On working with the city’s Transport Department, Wang said…
“We have already set a footprint in Guangzhou and we are eyeing Hong Kong,” chief financial officer Leo Wang said at a media event in the city on Tuesday. He said Pony.ai needed to work with local authorities and partners to explore the best way forward. On working with the city’s Transport Department, Wang said…
In the first of a two-part series about Hong Kong’s market for initial public offerings, Zhang Shidong and Ao Yulu report that more Chinese companies opted to list in Hong Kong in the first eight months of 2025 than in New York. Hong Kong has overtaken the US as the new listing venue for Chinese…
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…