David Webb, a Hong Kong corporate governance activist who is battling terminal cancer, issued an open letter criticising Hong Kong fashion retailer Bauhaus International Holdings’ decision to buy a residential property instead of making a dividend payout. Webb holds more than 8 per cent of the company’s shares and is the second-largest shareholder after the…
Sales of non-listed investment products soared to a record last year in Hong Kong, as capital poured into mutual funds, debt and equity-lined financial products amid improving market sentiments, underscoring the city’s growth as a financial hub. As many as 1.2 million customers traded at least once on a product last year, 28 per cent…
Trading of BNB on OSL was strictly limited to institutional investors with a portfolio of at least HK$8 million (US$1.02 million), who are allowed to trade the token with US dollars as well as the world’s two largest stablecoins, USDT and USDC. In a post on X on Wednesday, Zhao – also known as CZ…
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…
A senior Hong Kong official and a lawmaker have withdrawn from a Bitcoin Asia conference where Eric Trump, son of United States President Donald Trump, will attend, with sources confirming they were advised not to interact with the American businessman. A check by the Post on the conference’s website on Wednesday found that Eric Yip…
A senior Hong Kong official and a lawmaker have withdrawn from a Bitcoin Asia 2025 conference where Eric Trump, son of United States President Donald Trump, will also attend, with sources confirming an instruction was issued that they were not to interact with the American businessman. A check by the Post on the conference’s website…
Hong Kong’s Stablecoins Ordinance marks a significant milestone, as cross-border payments using the cryptocurrency can facilitate trade-finance flows between Hong Kong, mainland China and global markets such as the Middle East, according to the CEO of Zand, an AI-powered fintech and financial-services group in the United Arab Emirates (UAE). Future development under the ordinance could…
Hong Kong strengthened its position as a leading global wealth management hub after investors committed major capital to the city last year, lifting assets under management to HK$35.14 trillion (US$4.5 trillion), just shy of an all-time high, before stocks and other instruments delivered hefty gains. Assets under management in the city grew almost HK$4 trillion…
CMB International Securities (CMBI), the brokerage arm of China Merchants Bank, said it received a virtual asset licence from Hong Kong’s Securities and Futures Commission, making it the first mainland broker to conduct cryptocurrency trading services and other activities in the city. The licence, issued on Monday, allowed CMBI to engage in a variety of…
Hong Kong police have arrested eight people for allegedly making unauthorised stock transactions, manipulating the market and using phishing scams to swindle about HK$46 million (US$5.8 million) out of more than 130 victims based locally and overseas. Senior Superintendent Fanny Kung Hing-fun of the force’s commercial crime bureau said police had arrested seven men and…