After winning legislative backing for the Hong Kong Jockey Club to offer basketball betting – an initiative aimed at drawing punters away from illegal online bookmakers and capturing additional tax revenue – the government has now paused the roll-out. Officials say the rise of prediction markets has altered the landscape and warrants closer examination. So,…
Bitcoin’s collapse has prompted some retail investors in Hong Kong to snap up the world’s largest cryptocurrency after its value fell by more than half from its peak. According to crypto asset data tracker CoinGecko, the price of bitcoin slumped to almost US$60,000 on Friday morning, Hong Kong time, less than half its historical high…
A senior cadre at Beijing’s liaison office in Hong Kong with a rich financial background is expected to be transferred back to the capital for a new role in a committee advising leadership on economic policies for the next five-year plan, the Post has learned. Qi Bin, who turned 57 last month, was appointed by…
A trader works on the floor of the New York Stock Exchange on Aug. 4, 2022. Source: NYSE Stock futures climbed in overnight trading Sunday as the market seeks to rebound into the Thanksgiving holiday week after a slide that’s knocked the air out of this year’s AI bull run. Futures on the Dow Jones…
Thanksgiving 2025 and Black Friday sales are set to have pivotal impact in the holiday-shortened U.S Stock Market. While, focus will remain on Nvidia and AI stocks, investors will keep an eye on earnings reports from Alibaba, John Deere, Applied Digital and Dell Technologies. Stock market performance could factor into how consumers spend over the…
(Bloomberg) — Wall Street thought blowout earnings from Nvidia Corp (NVDA) would calm investors’ nerves about a bubble forming in artificial intelligence stocks. They didn’t. Most Read from Bloomberg So where does the AI trade stand now? It depends who you ask. On one side you have the skeptics. They’re concerned about soaring market valuations…
Bitcoin fell sharply after a sell-off of major U.S. stock indices. Bitcoin has been correlated closely to the price movement of the Nasdaq index. Luke MacGregor | Bloomberg | Getty Images Bitcoin tumbled as much as 6% early Friday, hovering just above its critical $80,000 support level at one point, as investors continued their flight…
More swings hit Wall Street on Friday, except the U.S. stock market finished higher this time. After bobbing up and down through the morning, the S&P 500 took off and rallied nearly 2% before finishing with a gain of 1%. The Dow Jones Industrial Average climbed 493 points, or 1.1%, and the Nasdaq composite rose…
Bitcoin continued to slide on Friday, extending a weeks-long slump that has wiped out nearly $800 billion in value since the cryptocurrency hit its 2025 peak last month. The downturn has stripped away all of bitcoin’s gains this year — and raised questions about where it might go from here. Since closing at almost $125,000…
Global financial markets are nervous. We know this because Wall Street’s fear index, the VIX, surged 12 per cent overnight to 26 points. Tech rally fizzles out Wall Street investors have been on a rollercoaster ride overnight, with an early tech rally on Nvidia’s results soon replaced by a big sell-off, and the ASX set…