Date
19 April 2018

Markets

  • 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...
  • Hong Kong stocks extended their rally into the New Year, helping the benchmark index close above the 31,000 level on Tuesday. Photo: Bloomberg

    A strong winter rally above 31,000

    - Jan 9, 2018 6:08pm
    Everything – except the temperature – is up. The stock market is onto its biggest party, with the Hang Seng Index posting gains for the 11th straight session and notching fresh 10-year highs, taking the benchmark...
  • Alibaba founder Jack Ma  made the promise to “seriously consider” listing in Hong Kong after the city's stock exchange proposed changing its rules to allow the listing of companies with dual-class shares. Photo: Bloomberg

    Alibaba to ‘seriously consider’ HK listing, says Jack Ma

    Jan 9, 2018 4:49pm
    Alibaba Group Holding Ltd. will “seriously consider” listing in Hong Kong, founder Jack Ma said, potentially providing a powerful boost to the financial hub which is preparing to allow dual-class share listings. Ma made the comments...
  • MSCI's upcoming inclusion of A-shares in its key indexes is expected to have a deep impact on the investor mix, market structure, and investor mentality in China in the long run. Photo: CNSA

    Foreign investors begin piling into China A-shares on MSCI theme

    - Jan 8, 2018 5:50pm
    More foreign capital is set to flow into China’s A-shares as MSCI prepares to include the stocks in its emerging market index from June. The upcoming move will have profound impact on the investor mix, market...
  • Music streaming company Spotify aims to start trading its shares in March or April. Photo: Reuters

    Spotify files to go public through direct listing

    Jan 4, 2018 9:04am
    Music streaming service Spotify AB has filed to list its shares on the New York Stock Exchange, the Wall Street Journal reports, citing a person familiar with the matter. The “confidential” filing with the Securities and Exchange Commission...
  • The Hong Kong stock market outperformed this year with the blue-chip Hang Seng Index closing at 29,919.15. Photo: Bloomberg

    Wishing for an even better stock market in 2018

    - Dec 29, 2017 4:43pm
    Things could not go any better for Hong Kong’s stock market in 2017. Forget all the doom and gloom you hear about the future of Hong Kong. The Hang Seng Index closed at almost 30,000 (29,919.15,...
  • Citigroup would sometimes display to customers, brokers and supervisors the wrong ratings, such as “buy” instead of “sell”, while in other cases it would display ratings for companies it did not cover, or no ratings at all. FINRA said. Photo: AFP

    Citigroup to pay US$11.5 million over errant stock ratings

    Dec 29, 2017 9:21am
    Citigroup Inc. will pay at least US$11.5 million in fines and restitution to settle charges it displayed the wrong research ratings on more than 1,800 stocks, causing many customers to own shares they never would have...
  • Amazon.com founder Jeff Bezos (right) saw his wealth increase by US$34.2 billion, the biggest gain this year.  Evergrande chairman Xu Jiayin added US$25.9 billion to his wealth, a 350 percent jump from last year. Photos: Reuters

    World’s wealthiest US$1 trillion richer in 2017: Bloomberg

    Dec 28, 2017 9:11am
    The world’s richest people added US$1 trillion to their wealth in 2017, more than four times last year’s gain, as stock markets reached record highs, Bloomberg reports. The Bloomberg Billionaires Index, a daily ranking of the world’s...
  • 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...
  • US markets may climb to new highs next year, providing momentum to other bourses, including Hong Kong. Photo: Reuters

    2018 outlook: Equities to hit new high, property under pressure

    - Dec 22, 2017 12:31pm
    After a strong rally this year, the Hang Seng Index is likely to sustain the strength and hit a record level in 2018. Supporting the bullish outlook is the recovery momentum of the global economy and...
  • Tencent Holdings, Ping An Insurance and Geely Auto are among the best performers on the Hang Seng Index. Photos: Bloomberg, Reuters

    Hang Seng or Tencent Index?

    - Dec 15, 2017 1:05pm
    The festive season is upon us, and Santa Claus has stuffed our Christmas stockings with bulging goodies, that is, in the form of pension investment and stock portfolio returns. Mind you, the best ones are from...
  • 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...
  • Western pop stars such as Katy Perry (left) and Rihanna use Tencent's music platforms to sell music in China. Photos: AFP

    Tencent expected to raise US$1 billion in music unit’s IPO

    Dec 14, 2017 9:22am
    Tencent Holdings Ltd. (00700.HK) is expected to raise at least US$1 billion from an initial public offering of its music division, valuing it at US$10 billion, Bloomberg reports, citing people familiar with the matter. There is...
  • 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...
  • A pedestrian walks past an electronic screen displaying the Hang Seng Index on Nov. 22. Hong Kong's benchmark index climbed above the 30,000 level for the first time in a decade, helped by a Tencent rally. Photo: Bloomberg

    Thanksgiving time for investors

    - Nov 24, 2017 2:53pm
    November has been a very lucky month for Hong Kong, giving us a good reason to celebrate Thanksgiving. Some investors were, however, luckier than others – thanks to what they had bet on, or chose to...
  • 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...

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