The recently approved Hong Kong Bitcoin spot ETFs began trading today, but saw relatively low volume on their first day. The Hong Kong Securities and Futures Commission (SFC) approved 6 total spot Bitcoin and Ethereum ETFs last week. NEW: 🇭🇰 Opening ceremony of Hong Kong spot #Bitcoin ETFs 👏 pic.twitter.com/ux1eb5PqRn — Bitcoin Magazine (@BitcoinMagazine) April 30,…
Spot Bitcoin exchange traded funds (ETFs) have officially gone live in Hong Kong as its stock market opens. OFFICIAL: SPOT #BITCOIN ETFS COMMENCE TRADING IN HONG KONG 🇭🇰 pic.twitter.com/yI8HsqRECf — Bitcoin Magazine (@BitcoinMagazine) April 30, 2024 The approval, eagerly awaited for months, signals a new era for the Bitcoin industry in the region. Major asset…
Hong Kong’s Securities and Futures Commission recently approved Bitcoin Spot ETFs for several major asset managers, paving the way for the city to become a leading hub for such products. The approval comes after months of anticipation and marks a significant milestone for the Bitcoin industry in Asia. JUST IN: 🇭🇰 Hong Kong spot #Bitcoin ETFs…
Hong Kong’s highly anticipated spot bitcoin exchange-traded funds (ETFs) are slated to launch by the end of April, according to various industry sources. NEW: 🇭🇰 Hong Kong #Bitcoin ETFs to start trading by 30th April and could bring in $25 billion: Reports Just a matter of time 🚀 pic.twitter.com/Y1Xo4JVrO7 — Bitcoin Magazine (@BitcoinMagazine) April 17, 2024…
Hong Kong has reportedly approved its first spot bitcoin exchange-traded funds (ETFs), with multiple issuers announcing they received permission to launch Bitcoin ETFs. China Asset Management, Bosera Capital and other applicants posted on social media that they got clearance to list spot Bitcoin ETFs in Hong Kong. However, the Securities and Futures Commission (SFC) has yet…
YANG WANG The following segment was excerpted from this fund letter. The HongKong and Shanghai Hotels Limited (OTCPK:HKSHF, OTCPK:HKSHY) Backing a long-standing Hong Kong family – with enormous margin of safety. “Luxury hotels are having a glorious moment. Rich travellers mean rich returns for investors” – “The Economist” 21 March 2024 When you look at…
Hong Kong is poised to approve Asia’s first spot bitcoin exchange-traded funds (ETFs) this month, and the first approvals are likely to be announced next week, according to people familiar with the matter, as reported by Reuters and Chinese news media, qq. BREAKING: 🇭🇰 Hong Kong is set to approve spot #Bitcoin ETFs next week,…
Some of China’s biggest asset managers are using Hong Kong subsidiaries to enter the Bitcoin ETF market, according to recent reports. JUST IN: 🇨🇳 $284 billion China Southern Fund has reportedly applied to launch spot #Bitcoin ETF via Hong Kong. You can't stop an idea whose time has come 🙌 pic.twitter.com/rnHOuRoY7V — Bitcoin Magazine (@BitcoinMagazine) April…
Yongyuan Dai 2023 was one of the worst years on record for Hong Kong equities, as a steep H2 drawdown led to the third straight year of losses for iShares MSCI Hong Kong ETF (NYSEARCA:EWH). With 2024 also starting off poorly, the Hong Kong equity benchmark is now back to price levels last seen at…
The city of Hong Kong is serious about crypto. After three years of struggles with COVID-19, the city is vibrant and flourishing again as business executives and tourists of all kinds pour back into Asia’s financial center. New guidelines from the Securities and Futures Commission are paving the way. Since Hong Kong FinTech Week last…
Aside from Hong Kong, another country that has contributed significantly to the growth of the Asian crypto economy is Singapore. As the curtain draws nearer towards the end of 2023, Hong Kong has emerged as a significant player in shaping the regulatory landscape for crypto assets in Asia, the Block reported on Tuesday. Despite the…
Regarding custody arrangements, the SFC emphasizes that the fund’s trustee or custodian can delegate its crypto custody function solely to an SFC-licensed VATP or entities meeting the crypto custody standards set forth by the HKMA. Hong Kong has announced its readiness to receive applications from traditional financial companies interested in exploring the emerging economy by…
CHUNYIP WONG/E+ via Getty Images Elevator Pitch I have a Hold investment rating for CLP Holdings Limited (OTCPK:CLPHY) stock. On its company’s investor relations website, CLPHY calls itself as “one of the largest investor-owned (as opposed to state-owned) power businesses in Asia Pacific.” Previously, I reviewed CLP Holdings’ financial performance for the first half of…
Boyaa Interactive, a Hong Kong-based gaming company, revealed plans for a potential investment in cryptocurrencies, including Bitcoin, as this endeavor seeks to enhance the Group’s asset allocation strategy. Following an earlier voluntary announcement in August 2023, Boyaa’s Board views BTC and crypto acquisition as pivotal for its business expansion and asset allocation strategy. The company…
Hong Kong’s top financial regulator SFC shows willingness to allow retail players to gain access to spot crypto ETFs while ensuring that risks are addressed properly. Hong Kong regulators are assessing whether they can allow retail investors to seek exposure to spot crypto ETFs that directly invest in crypto assets. Julia Leung, the Chief Executive…
The e-HKD program has taken a three-rail approach for the potential implementation of the virtual currency: foundation layer development, industry pilots and iterative enhancements, and full launch. Hong Kong’s central bank digital currency (CBDC) pilot is set to advance to its second phase following the successful completion of phase one. The first phase was largely…
CHUNYIP WONG Since I last called for caution on the iShares MSCI Hong Kong ETF (NYSEARCA:EWH), the fund has further underwhelmed – and for good reason. For all the recent investor concerns about the state of property in mainland China, Hong Kong is having it much, much worse. Hong Kong’s monetary policy is tied to…
While HKVAEX aims to secure a license under the SFC for virtual asset trading, Binance has remained reticent about its own licensing pursuits in Hong Kong despite acknowledging the region’s growing prominence within the global crypto market. Binance, the world’s largest cryptocurrency exchange, has allegedly opened up a new digital asset trading platform in Hong…
Didi was initially listed on the New York Stock Exchange but then it was compelled to delist due to regulatory issues in China. Chinese ride-hailing giant, Didi Global Inc (NYSE: DIDI) is reportedly making strategic moves in preparation for its upcoming Initial Public Offering (IPO) on the Hong Kong Stock Exchange (HSE) next year. People…
stocklapse With higher interest rates, weak pricing for rental properties, and growing concerns about the health of mainland China, “less bad” is about as good as it gets with Hong Kong property developers these days. In that limited context, CK Asset Holdings‘ (OTCPK:CHKGF) (1113.HK) performance since my last update has been better than most but…
The police confirm that all 11 victims, so far, have reported combined losses to the excess of $446,000. The Hong Kong police force has cautioned about a new phishing scam technique that bad actors are using to target Binance users in the region. According to a Monday post, no less than 11 users of the…
Sean Anthony Eddy Deals and Financings Jiangsu QYuns Therapeutics filed for a Hong Kong IPO to underwrite development of its portfolio of clinical-stage biologic antibody drugs for autoimmune and allergic diseases (see story). The company has developed a pipeline of nine candidates using its rabbit-based discovery platform that it expects will be more affordable than…
The Hong Kong Monetary Authority (HKMA) recently completed a public consultation on stablecoins regulations. As the city of Hong Kong prepares for mainstream adoption of digital assets through a regulated manner, the officials are grappling with cases of crypto-related scams. In a bid to ensure maximum protection of investors’ funds, Hong Kong’s Secretary for Financial…
A substantial group of Evergrande’s offshore creditors is considering joining a liquidation court petition against the developer if it fails to submit a new debt restructuring plan by the end of October. The embattled Chinese property developer Evergrande witnessed a substantial surge in its shares as trading resumed in Hong Kong following a brief suspension…
The significance of this IPO is further highlighted when considering the expected global ranking of this offering. Cainiao Smart Logistics Network Ltd, the logistics unit of Alibaba Group Holding Ltd (HKG: 9988) has taken a significant step by submitting its A1 filing to the Hong Kong Stock Exchange, aiming to raise at least $1 billion…
Meanwhile, Alibaba has put a hold on Hong Kong IPO plans for its grocery chain Freshippo. The Alibaba Group’s logistical arm Cainiao Network Technology is set to reportedly file for its Hong Kong Initial Public Offering (IPO) by next week, making it one of Alibaba’s first units to go public. According to sources familiar with…
The Hong Kong Securities and Futures Commission, in their statement regarding the arrest of the alledged fraudsters, pointed out that JPEX was not licensed and lacked the authority to host a cryptocurrency trading platform within the community. Hong Kong police arrested six individuals in connection with allegations of fraud related to an unlicensed cryptocurrency exchange…
JPEX attributed its liquidity difficulties to regulatory constraints and external market makers, leading to increased withdrawal fees and the suspension of specific services. According to various local media reports, Joseph Lam (Lin Zuo), a former lawyer and cryptocurrency influencer, has been arrested by Hong Kong authorities in connection with the JPEX crypto exchange. Crypto Influencer…
These IPOs align with the broader trend of Chinese companies seeking public listings in Hong Kong, driven by regulatory scrutiny and market dynamics. Three prominent mainland China-based companies, led by Beijing Fourth Paradigm, a cutting-edge artificial intelligence (AI) software firm, have debuted on the Hong Kong Stock Exchange with initial public offerings (IPOs). Collectively, the…
Hong Kong law enforcement is conducting an inquiry into JPEX following a referral from the SFC regulator, over offering suspiciously higher returns for its interest bearing products. Amid the ongoing investigation by the Hong Kong police, crypto exchange JPEX has suspended its operations along with raising the withdrawal fees on the platform. The development happens…
According to BIS research, 93% of central banks across the world are investigating the feasibility of issuing CBDCs. The Hong Kong Monetary Authority (HKMA) and the Bank of Israel (BOI) have partnered to address the privacy concerns associated with central bank digital currencies (CBDCs). This is according to a joint report titled “Project Sela –…
According to an OKX exec, the exchange is in the final stage and has banks waiting on regulatory approval in the form of a license. Popular OKX crypto exchange is close to getting a virtual asset provider license (VASP) in Hong Kong and is in the final stage of the process. If all goes well,…
Some of China’s state-backed telecommunications companies are keen on investing in Alibaba Cloud, said sources familiar with the matter. Alibaba Group Holding Ltd.’s cloud computing division, Alibaba Cloud, is considering a private round of fundraising from Chinese state-owned enterprises before making a debut in Hong Kong. Sources familiar with the matter stated that Alibaba Cloud…
China’s efforts to support and revive its property sector took a notable turn recently with a series of monetary policy adjustments to provide relief to the struggling real estate market. Hong Kong-listed property stocks took the market by storm earlier today, outpacing all expectations and driving the Hang Seng Index (INDEXHANGSENG: HSI) to the top…
Aside from Hong Kong, SEBA will also seek additional licensing in Singapore as it continues its push in the Asia Pacific region. The Swiss bank SEBA has received approval in principle for its regional subsidiary – SEBA Hong Kong. The bank received its license from the Hong Kong Securities and Futures Commission (SFC). Unlike China,…
LewisTsePuiLung Listen below or on the go on Apple Podcasts and Spotify Property developer China Evergrande loses 80% of its value as it resumes trading. (0:15) Under Armour (UAA) gets a vote of confidence. (2:05) Danaher to pay $5.7B for UK’s Abcam. (2:56) This is an abridged transcript of the podcast. Our top story so…
As part of its preparation for retail trading next week, HashKey has implemented stringent Know Your Customer (KYC) protocols to ensure compliance and security. Hong Kong’s cryptocurrency scene is gearing up for a groundbreaking moment as HashKey, a key player in the industry, is poised to introduce its much-anticipated retail crypto trading services next week….
Despite China’s strict ban on cryptocurrency transactions, Hong Kong has taken a different approach, welcoming cryptocurrency firms and even encouraging banks to work with them. The HashKey exchange has made history as the first company in Hong Kong to secure a license under the new regulatory framework that enables crypto trading platforms to cater to…
Ant Group’s IPO was halted in 2020 after the Chinese government intervened, citing rising concerns about the company’s growth and potential systemic threats to the financial industry. Chinese fintech giant Ant Group, backed by billionaire Jack Ma, has made headlines with its plan to undergo a strategic restructuring and cut ties with non-core operations. This…