23 January 2019


  • Bitcoin has lost 74 percent of its value so far this year, after hitting nearly US$20,000 in December last year. Photo: AFP

    Bitcoin sinks as cryptocurrency sell-off gathers pace

    Nov 27, 2018 8:22am
    Bitcoin plunged more than 12 percent, extending falls in recent weeks in a broad-based selloff in digital currencies as sentiment sours, Reuters reports. Several factors have accelerated the downturn, analysts said, including increased US regulatory scrutiny...
  • Money is pouring into companies that speculators think might become acquisition targets for backdoor listings. Photo: Reuters

    Speculators return as China eases market curbs

    Nov 16, 2018 3:26pm
    Speculators are staging a forceful comeback in China’s stock market, bidding up shares in loss-making companies, as regulators ease rules around trading, fundraising and backdoor listings to prop up struggling bourses. In a bid to stop...
  • Levi Strauss & Co. is aiming to debut with a valuation of about US$5 billion, CNBC said. Photo: Bloomberg

    Levi Strauss seeks to raise up to US$800 million in IPO: report

    Nov 15, 2018 9:07am
    Levi Strauss & Co., the 145-year-old company that made the first pair of blue jeans, is planning an initial public offering, CNBC reports, citing sources familiar with the matter. The company, which plans to raise about...
  • Snap’s Snapchat messaging app has struggled with user growth since the company's initial public offering in March 2017. Photo: Bloomberg

    Snap subpoenaed by US authorities over IPO disclosures

    Nov 14, 2018 10:06am
    The US Justice Department and Securities and Exchange Commission have subpoenaed Snap Inc. for information about its March 2017 initial public offering, the social media app maker told Reuters. Snap said in a statement it has...
  • The MSCI move is expected to boost the Chinese stock markets, which are performing poorly this year.  Photo: Xinhua

    MSCI adds more China stocks to global emerging markets index

    Nov 14, 2018 8:54am
    MSCI Inc. said it will add several onshore Chinese stocks to its closely watched and widely duplicated emerging-markets index, Reuters reports. S.F. Holding Co. Ltd. (002352.CN), 360 Security Technology Inc. (601360.CN) and China Shipbuilding Industry Corp....
  • Hong Kong's stock market has been rattled by trade tensions between China and the United States. The benchmark Hang Seng Index is down almost 16 percent this year. Photo: Bloomberg

    Tencent-backed Chinese travel firm slashes Hong Kong IPO size

    Nov 13, 2018 5:04pm
    Tencent Holdings-backed online Chinese travel firm Tongcheng-Elong launched a far smaller-than-expected initial public offering of up to US$233 million in Hong Kong on Tuesday, amid a weak stock market and a string of poor performances from...
  • Shanghai Stock Exchange says it will encourage small investors to invest in the firms listed on the planned new technology innovation board, via mutual funds. Photo: Bloomberg

    Shanghai bourse to launch new tech board

    Nov 6, 2018 9:21am
    Chinese President Xi Jinping unveiled plans on Monday to launch a technology board in Shanghai that will adopt a loosely-regulated mechanism for initial public offerings (IPOs), potentially competing with Hong Kong, or even New York, Reuters...
  • One bitcoin is now worth around US$6,200. That is a steep 70 percent fall from its all-time high of near US$20,000 in December last year. Photo: AFP

    Early bitcoin investors count winnings after volatile decade

    Nov 1, 2018 8:53am
    Seven years ago, Marshall Hayner gave his grandfather one bitcoin, worth about US$30. On the paper wallet he fashioned to commemorate the gift, the US entrepreneur and software developer wrote: “Do not open until US$100,000.” It...
  • Cleveland Fed president Loretta Mester recent stock market falls "do not seem to be signaling that investors are becoming overly pessimistic". Photo: Bloomberg

    Market drop nowhere near harming US economy: Fed’s Mester

    Oct 26, 2018 10:19am
    The recent cratering of stock markets is nowhere near severe enough to rattle confidence and significantly hurt US business and consumer spending, a Fed official said on Thursday, in the latest unruffled message from the US...
  • The move gives the cryptocurrency industry association rights to set rules to safeguard customer assets, prevent money laundering, and give operational guidelines. Photo: Bloomberg

    Japan grants cryptocurrency industry self-regulatory status

    Oct 25, 2018 9:17am
    Japan’s Financial Services Agency (FSA) has given the cryptocurrency industry self-regulatory status, permitting the Japan Virtual Currency Exchange Association to police and sanction exchanges for any violations, Reuters reports. The government has been reviewing its approach...
  • With the cryptocurrency bubble having gone bust, boosters have resorted to a defense of “blockchain”, the distributed-ledger software underpinning all cryptocurrencies. Photo: Bloomberg

    The big blockchain lie

    - Oct 16, 2018 9:01am
    With the value of Bitcoin having fallen by around 70 percent since its peak late last year, the mother of all bubbles has now gone bust. More generally, cryptocurrencies have entered a not-so-cryptic apocalypse. The value...
  • Tencent Music was originally planning to launch its initial public offering as soon as next week. Photo: Bloomberg

    Tencent Music delays US$2 billion US IPO on weak markets: report

    Oct 12, 2018 3:41pm
    Tencent Music Entertainment has delayed its planned US initial public offering (IPO) until at least November, preferring to wait for global stock markets to stabilize, Reuters reports, citing sources. The music arm of tech giant Tencent...
  • Investors worried about rising interest rates and braced for the impact of the trade war on corporate earnings. Photo: Reuters

    Wall Street continues slide before start of earnings season

    Oct 12, 2018 7:33am
    Wall Street indices continued their slide in Thursday’s volatile session as investors worried about rising interest rates and braced for the impact of the trade war on corporate earnings a day ahead of the quarterly reporting...
  • Share markets in Shanghai and elsewhere in Asia tumbled after Wall Street’s worst losses in eight months led to broader risk aversion. Photo: Reuters

    Asia shares swoon to 19-month lows after Wall Street rout

    Oct 11, 2018 5:37pm
    Share markets in Asia plunged to a 19-month low on Thursday after Wall Street’s worst losses in eight months led to broader risk aversion, a rise in market volatility gauges and concerns over overvalued stock markets...
  • Bitcoin’s popularity and the emergence of hundreds of other digital coins or tokens have drawn more hackers into the cryptocurrency space. Photo: Bloomberg

    Cryptocurrency theft tops US$900 mln in Jan-Sept: report

    Oct 11, 2018 9:31am
    Cryptocurrency theft through hacking of exchanges and trading platforms totaled US$927 million in the first nine months of this year, an increase of nearly 250 percent from the level seen in 2017, according to a US-based...
  • Traders were spooked by rising US Treasury yields and fears of a deepening US-China trade conflict. Photo: Reuters

    Wall Street investors fret about a correction as stocks tumble

    Oct 11, 2018 8:38am
    The deepest one-day selloff in Wall Street stocks in eight months has investors using the market equivalent of a dirty word: “correction”. With traders spooked by rising US Treasury yields and fears of a deepening US-China...
  • Wall Street rose amid a bright outlook for the US economy despite the trade war with China. Photo: Reuters

    Dow Jones surpasses Hang Seng as trade war rages on

    - Oct 4, 2018 1:21pm
    So far no one knows when, and how, the escalating trade war between the United States and China will end. But everyone knows – except US President Donald Trump and his cohorts perhaps – that the...
  • Tencent Music includes Spotify-like digital streaming apps QQ Music, Kugou and karaoke app WeSing, and is seeking a valuation of about US$25 billion. Photo: Bloomberg

    Tencent online music unit files for US listing

    Oct 3, 2018 8:39am
    Tencent Music Entertainment Group has formally filed with regulators to list in the United States, under the symbol “TME”, in what could be the biggest US initial public offering by a Chinese company, Reuters reports. The...
  • The MSCI planned moves, once implemented, will trigger fresh foreign inflows into China’s US$7 trillion stock market. Photo: Bloomberg

    MSCI considering raising weighting of Chinese shares in indexes

    Sep 26, 2018 9:58am
    Global index provider MSCI said it will consider quadrupling the weighting of Chinese big-caps in its global benchmarks and also proposed adding mid-caps and shares listed on Shenzhen’s start-up board ChiNext, Reuters reports. MSCI’s consultation for...
  • A brochure calls for legalization of cannabis, in this picture taken during the Cannabis Business Europe event in Frankfurt last month. After moves by Uruguay and Canada, marijuana legalization and decriminalization has become a hot topic. Photo: Reuters

    After the bitcoin craze, we now have pot stock mania

    - Sep 20, 2018 2:13pm
    Forget the crypto counters or China concept stocks like Nio or Pinduoduo. The red-hot names in the US market right now are cannabis plays. Take a look at Tilray, the Canada-based marijuana producer that went public...

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