24 January 2018

Alternative investments

  • The Ernst & Young study comes amid a cryptocurrency investing craze, with young companies raising hundreds of millions of dollars online to fund their projects. Photo: Bloomberg

    Over 10% of US$3.7 billion ICO proceeds stolen: Ernst & Young

    Jan 23, 2018 9:05am
    More than 10 percent of funds raised through “initial coin offerings” are lost or stolen in hacker attacks, Reuters reports, citing new research by Ernst & Young. The professional services firm analyzed more than 372 ICOs,...
  • South Korea is a crucial source of global demand for cryptocurrency. Photo: Reuters

    South Korea plans to ban cryptocurrency trading, rattles market

    Jan 11, 2018 4:53pm
    South Korea on Thursday said it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation’s police and tax authorities raided local exchanges on alleged tax...
  • Bitcoin and other cryptocurrencies are headed for trouble, according to Warren Buffett. Photo: Reuters

    Cryptocurrencies ‘will come to a bad end’, says Buffett

    Jan 11, 2018 9:23am
    Legendary investor Warren Buffett said on Wednesday that he will never invest in cryptocurrencies, and suggested that units such as bitcoin are destined for a crash once the current mania ends. “I can say almost with...
  • Bitcoin investors and analysts believe last week’s decline in the value of the cryptocurrency was a natural correction after a heady run-up in prices. Photo: Reuters

    Bitcoin recovers some losses after its worst week since 2013

    Dec 27, 2017 9:05am
    Bitcoin rose 15 percent on Tuesday, recouping about half of the losses it sustained last week, its worst since 2013, as investors who had missed out on earlier rallies bought the world’s biggest and best-known digital...
  • As investors pile into bitcoin amid a speculative frenzy, it is putting the systems of trading platforms under severe test. Photo: Reuters

    Bitcoin mania puts exchanges under severe strain

    Dec 14, 2017 9:51am
    As bitcoin mania continues, taking the virtual currency to new peaks, a huge spike in investor activity is putting stress on trading platforms and giving rise to various problems including hacker attacks. On Tuesday, one of...
  • Technical analysis suggests that bitcoin could easily surge above the psychologically important level of US$20,000 this year. Photo: AFP

    Bitcoin reaches new peak after futures launch

    Dec 13, 2017 8:58am
    Virtual currency bitcoin hit another all-time peak, two days after the launch of the first ever bitcoin futures on a US exchange and ahead of the start of another futures contract next week, as investors grew...
  • Bitcoin has surged fifteen-fold so far this year amid frenzied speculative bets on the digital currency. Photo: Reuters

    Bitcoin surges above US$16,000 as bubble fears grow

    Dec 8, 2017 8:53am
    Bitcoin surged past US$16,000 for the first time on Thursday, spiking more than US$3,000 within a span of 24 hours, as investors continued to place frenzied speculative bets on the cryptocurrency.  The digital currency topped out at...
  • NiceHash said about 4,700 bitcoin, worth about US$63.92 million at current prices, were stolen from its digital wallet. Photo: Reuters

    NiceHash says bitcoin worth nearly US$64 million hacked

    Dec 7, 2017 12:19pm
    Cryptocurrency marketplace NiceHash said the contents of its bitcoin wallet had been stolen in a security breach and one executive said nearly US$64 million had been lost, Reuters reports. NiceHash head of marketing Andrej P. Škraba...
  • Bitcoin continues to hit new peaks despite warnings from some experts that the bubble could burst. Photo: Reuters

    Bitcoin breaks above US$13,000 to hit new record

    Dec 7, 2017 8:31am
    Bitcoin extended its rally on Wednesday, breaking above the US$13,000 level to hit a new all-time high even as questions raged about the cryptocurrency’s real value and fears of a dangerous bubble. “There is a lot...
  • The bitcoin crypto-currency is continuing its record of extreme price volatility.  Photo: Reuters

    Bitcoin hits new record high, just days after 29% slide

    Nov 17, 2017 8:48am
    Bitcoin hit another record high on Thursday, shaking off a 29 percent plunge it suffered just three days earlier, in a continuation of the price volatility in the crypto-currency  After erasing as much as US$38 billion...
  • Although it has surged nearly sevenfold this year, bitcoin is still viewed by traditional investors as opaque and highly speculative with potential to collapse. Photo: Bloomberg

    Payments firm Square tests bitcoin buying and selling

    Nov 16, 2017 8:08am
    Payments company Square Inc. said it has started allowing select customers to buy and sell bitcoins on its Cash app, as it looks to tap into a craze that has sent the cryptocurrency up nearly sevenfold...
  • Bitcoin surged more than 14 percent to US$6,718, though it was still over US$1,000 less than last week’s record high. Photo: Bloomberg

    Bitcoin claws back over US$1,000 after losing a third of value

    Nov 14, 2017 8:29am
    Bitcoin surged on Monday, recovering more than US$1,000 after losing almost a third of its value in less than four days as traders bought back into the volatile cryptocurrency, Reuters reports. Bitcoin tumbled in the second...
  • The People's Bank of China has stepped up supervision on bitcoin exchanges amid concerns over illegal activities. Photo: Bloomberg

    PBoC conducts spot inspections of bitcoin exchanges

    Jan 12, 2017 8:29am
    Chinese authorities carried out inspections of bitcoin exchanges in the country amid concerns over possible market manipulation, money laundering, unauthorized financing, currency conversion and other activities. The Shanghai and Beijing branches of the People’s Bank of...
  • Skyrocketing prices have attracted savvy investors to jump into the whisky market. Whisky offers diversified investment. Photo: HKEJ

    Investors turn to alternative investment amid volatile market

    - Nov 16, 2016 6:02am
    Alternative investment has become increasingly sought-after among high-net-worth individuals (HNWIs) as they seek better investment returns amid heightened market volatility and a sustained low interest-rate environment. Asia’s HNWIs are moving away from their long-held focus on...
  • Qi Baishi is often considered as one of the most influential Chinese painters, and his works provide a benchmark for the nation's art market. Photo: sina

    Negative surprises from China’s art-related funds

    - Aug 15, 2016 1:36pm
    Investors in a unit trust were rightly angry after they were told recently that they can only get back their initial investment amount with no return at all despite staying with the fund for four years. The...
  • Silver has outperformed gold so far this year, with Chinese buyers driving the rally. Photo: Reuters

    Silver may gain further after outperforming gold

    - Jul 6, 2016 5:03pm
    London silver price soared to a two-year high on Monday. The metal surged more than 7 percent in Asian trading hours, crossing the US$21 per ounce mark for the first time in two years. It marks...
  • On some days, the trading volume in iron ore futures on the Dalian Commodity Exchange exceeded China's total imports of iron ore last year. Photo: China Daily

    China securities regulator cracks down on speculation in futures

    Apr 29, 2016 8:05am
    China’s securities regulator ordered the country’s major commodity futures exchanges this week to control speculative trading activity after a surge in prices sparked fears of a boom-and-bust cycle, Reuters reported. In response, commodity futures exchanges in...
  • Gold prices have risen as the dollar was pushed lower amid dovish comments by the US central bank. Photo: Bloomberg

    Gold may edge up further on safe-haven demand

    - Apr 13, 2016 4:48pm
    London gold price rose to a three-week high of US$1,260 per ounce on Tuesday, as the US dollar continues to hover at an 8-month low after the Fed signaled a cautious stance on interest rates. Fed...
  • File photo of inkbrush painting "Peach Blossom Spring" by late Chinese artist Zhang Daqian. The work fetched record price at a Sotheby's auction in Hong Kong on Tuesday. Photo: Reuters

    Zhang Daqian materpiece fetches HK$271 mln in HK auction

    Apr 6, 2016 3:46pm
    An ink-and-color work of famous painter Zhang Daqian (張大千), who passed away in 1983, has fetched an eye-popping HK$271 million at a Hong Kong auction on Tuesday. The painting saw frenzied bidding, with around 100 bids...
  • Ai Weiwei’s “Grapes” is estimated to be worth HK$1.5-2.2 million, according to Sotheby’s. Photo: Sotheby’s

    What is not contemporary art?

    - Apr 2, 2016 8:05am
    Contemporary art is hard to understand. To ordinary folks like me, who has no artistic training whatsoever, it seems anything can be contemporary art. Not only do I find it hard to understand such art works,...

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