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☆ HK spot crypto ETF market has the potential to be double the size of the U.S.: CEO
▼ + stars: | 2024-05-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHK spot crypto ETF market has the potential to be double the size of the U.S.: CEOTongli Han, CEO of Harvest Global Investments says the in-kind subscription model for Hong Kong's newly launched spot bitcoin and ether ETFs will appeal to cryptocurrency "native" participants.

Persons: Tongli Han, Hong Kong's Organizations: HK, Harvest Global Investments Locations: U.S

☆ More risks buying spot crypto ETFs with cash than in-kind purchases: HashKey
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMore risks buying spot crypto ETFs with cash than in-kind purchases: HashKeyHashKey Exchange's Heddy Tsang says the in-kind purchase options for Hong Kong's newly listed spot crytpo ETFs will open a new channel for market participation.

Persons: Heddy Tsang Organizations: Hong

☆ Asia's first spot bitcoin and ether ETFs debut in Hong Kong
▼ + stars: | 2024-04-30 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

Dado Ruvic | ReutersHong Kong on Tuesday launched six spot bitcoin and ether exchange traded funds — becoming the first in Asia to offer retail investors the ability to trade the cryptocurrencies at spot prices. The cryptocurrency ETFs were issued by three Chinese firms — China Asset Management, Bosera Asset Management, and Harvest Global Investments — on the Hong Kong exchange. Spot bitcoin ETFs by ChinaAMC, Bosera HashKey and Harvest were above 3% higher in early trading, but subsequently gave up some gains to trade by about 1.5% higher. The three ether ETFs were trading above 1% in the morning, but fell into negative territory by the late afternoon. The spot crypto ETFs had received regulatory approval under the provision of virtual asset management services, but crypto futures ETFs have been trading on the HKEX since late 2022.

Persons: Dado Ruvic, Bosera, Bitcoin, Antoni Trenchev, Nexo, Trenchev, Han Organizations: Reuters, Tuesday, China Asset Management, Bosera Asset Management, Harvest Global, Hong, Hong Kong's Securities, Futures Commission, ChinaAMC, U.S . Securities, Exchange Commission, CNBC, Stock Exchange of Hong, ., Harvest Global Investments Locations: Reuters Hong Kong, Asia, China, Hong Kong, U.S, Singapore, Dubai, Japan, South Korea, Stock Exchange of Hong Kong

☆ Hong Kong stocks are back from the dead. Here’s why
▼ + stars: | 2024-04-30 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Hong Kong’s benchmark Hang Seng Index surged more than 7% in April as the best-performing major index in the world. The valuation of Hong Kong stocks has also become more “compelling” relative to the rest of the Asian region after the pullback last year, said Zhikai Chen, head of Asian equities at BNP Paribas Asset Management. He added that there is a shift in investors’ sentiments as Chinese economic data turned more positive. Innes said global investors are currently “underweight” in Chinese markets, including Hong Kong, because of geopolitical tensions and concerns surrounding potential fallout from the upcoming US elections. Stock exchange data showed that southbound investors (meaning investment from mainland China into Hong Kong) have bought nearly $20 billion of Hong Kong-listed stocks in March and the first three weeks of April on a net basis.

Persons: ”, Kelly Chung, Zhikai Chen, Stephen Innes, David Chao, Nomura, Xiaomei Chen, Angelina Lai, Innes, Kong, BNP Paribus Organizations: Hong Kong CNN, Hong, Value Partners, BNP, Management, P Global, PMI, Kong's, Reuters, US, People’s Bank of, HK, “ Locations: China, Hong Kong, United States, Beijing, India, James’s, People’s Bank of China

☆ Asia markets extend gains ahead of business activity figures from around the region
▼ + stars: | 2024-04-23 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Nurphoto | Nurphoto | Getty ImagesAsia-Pacific markets extended gains from Monday as tech shares rebounded on Wall Street and investors look toward flash business activity figures from Australia, Japan and India. Figures from S&P Global show that Australia's composite purchasing managers index hit a two-year high, coming in at 53.6 against March's 53.3. Japan and India's PMI numbers will be released later Tuesday. Japan's Nikkei 225 popped 0.8% at the open, while the broad based Topix was up 0.66%. Futures for Hong Kong's Hang Seng index stood at 16,681, pointing to a weaker open compared to the HSI's close of 16,511.69.

Persons: Kospi Organizations: Nurphoto, Getty, March's, PMI, Nikkei Locations: Jama, New Delhi, India, Asia, Pacific, Australia, Japan

☆ Hong Kong’s biggest stock is ready for a turnaround, analysts say
▼ + stars: | 2024-04-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

The firm is overweight on Tencent shares, with a price target of 400 Hong Kong dollars ($51). Also helping analysts' optimism on the stock are Tencent's share buybacks. HSBC has a buy rating on Tencent, with a target price of 385 Hong Kong dollars. Pan said that low liquidity in Hong Kong has also affected share prices in that market, but he hopes that can improve with a new CEO. The Hong Kong exchange's co-COO Bonnie Chan is set to become head of the business in late May.

Persons: Morgan Stanley, Gary Yu, Morgan Stanley's Yu, Tencent, Prosus, Charlene Liu, HSBC's, Grant Pan, Noah Holdings, Pan, Hong Kong exchange's, Bonnie Chan, — CNBC's Michael Bloom Organizations: Hong, Jefferies, Naspers, Internet, Gaming Research, HSBC Locations: Hong, Hong Kong, Asia, Japan, Netherlands, Tencent, 1Q24, Asia Pacific, HKD500m, China

☆ India kicks off the world's largest elections this week. Here’s what you need to know
▼ + stars: | 2024-04-18 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +7 min

A worker fixes a flag of the ruling Bharatiya Janata Party on a hoarding of their leader and India's Prime Minister Narendra Modi on April 15, 2024. The 2024 general elections will pan out in seven phases over the next six weeks, starting April 19. India's meteoric riseUnder Modi's rule, India's economy has scaled to new heights. It is now the world's fifth-largest economy with a GDP of $3.7 trillion and has set its sight on becoming the world's third largest economy by 2027. Home to 1.4 billion people, the world's most populous country is the fastest growing economy in the world.

Persons: Narendra Modi, Idrees Mohammed, Hong Kong's, Modi, Suyash Rai, Joe Biden, Chietigj Bajpaee, Biden, Bajpaee, Rahul Gandhi, Rajiv Gandhi, Indira Gandhi, Jawaharlal Nehru, Amitendu Palit, Modi's, R.satish Babu Organizations: Bharatiya Janata Party, India's, Afp, Getty, Voters, Monetary Fund, Carnegie India, CNBC, White, Bloomberg, India, South Asia, Chatham House, BJP, National Democratic Alliance, Indian, Developmental Inclusive, Indian National Congress, Institute of South Asian Studies, National University of Singapore, NDA, Centre, of Foreign Relations, Reuters Locations: Lok Sabha, Lok, Hong, Washington, U.S, India, China, Raipur, Coimbatore

☆ Asia markets extend declines amid Iran-Israel tensions; China economic data on deck
▼ + stars: | 2024-04-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A batch of cars are ready to be shipped to overseas markets at the port of Taicang, Jiangsu province, China, April 9, 2024. Future Publishing | Future Publishing | Getty ImagesAsia-Pacific markets extended their declines as the world awaits Israel's response to Iran's air assault over the weekend. On Tuesday, China's first-quarter gross domestic product numbers will be in focus, with the world's second-largest economy expected to grow 4.6% from a year ago. Futures for Hong Kong's Hang Seng index stood at 16,430, pointing to a weaker open compared to the HSI's close of 16,600. Japan's Nikkei 225 plunged 1.5% at the open, while the broad based Topix was down 1.04%.

Persons: China's, Kospi Organizations: Future Publishing, Getty, Nikkei Locations: Taicang, Jiangsu province, China, Asia, Pacific, Australia

☆ Hong Kong regulators approve launch of spot bitcoin and ether ETFs
▼ + stars: | 2024-04-15 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Hong Kong regulators on Monday approved the launch of spot bitcoin and ether exchange-traded funds (ETFs), asset managers said, following U.S. moves this year to bring these products to market. Harvest Global and Bosera International have also received SFC approval for bitcoin and ether ETFs, according to the companies. However, Hong Kong has slowly been trying to make itself a regulated crypto hub to compete with places like Dubai and Singapore. Hong Kong's moves come after U.S. securities regulators approved the trade of spot bitcoin ETFs, which have seen billions of dollars of inflows. Hong Kong would be one of the first places in the world to approve an ether ETF.

Persons: ChinaAMC, Bitcoin, Kong's, Yolande Chee Organizations: OSL Digital Securities, ChinaAMC, Hong Kong's Securities, Futures Commission, Harvest, Bosera, Hong Kong SFC, CNBC, U.S . Securities, Exchange Commission Locations: Hong Kong, China, Dubai, Singapore, cryptocurrencies

☆ Asia markets climb as U.S. Treasury yields pressure Wall Street; data from Australia and Japan on deck
▼ + stars: | 2024-04-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

An aerial view of the central business district and Sydney Opera House on February 17, 2023. On Tuesday, investors in Asia will observe business confidence surveys from Australia and consumer confidence data from Japan. Asia-Pacific markets climbed even as U.S. Treasury yields put pressure on Wall Street equities Monday. Futures for Hong Kong's Hang Seng index stood at 16,831, pointing to a weaker open compared to the HSI's close of 16,732.85. Treasury yields rose, with the rate on the benchmark 10-year Treasury note up about 4 basis points to 4.42%.

Persons: CNBC's Hakyung Kim, Yun Li Organizations: Sydney Opera House, Treasury, Wall, Nikkei, Dow Jones, Nasdaq Locations: Asia, Australia, Japan, Pacific, U.S, . Federal

☆ Hong Kong seizes over $10 million worth of gold disguised as machine parts in record smuggling bust
▼ + stars: | 2024-04-09 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

In Hong Kong's largest gold smuggling bust, the city authorities seized an estimated $10.7 million worth of the precious metal that had been concealed as machine parts being shipped to Japan. Under Hong Kong law, any person found guilty of smuggling cargo is liable to a maximum fine of $2 million and imprisonment for seven years. A customs official told local reporters on Monday that this was the first case in which gold had been found concealed as machine parts. Hong Kong, which is one of the world's largest gold trading hubs, in February arrested another suspect for trying to smuggle gold bars out of the city. Both the cases had involved Macau-bound vehicles smuggling gold worth more than $1 million.

Organizations: Hong Kong's Locations: Hong, Japan, Hong Kong, There's, Macau, U.S

☆ India's market cap can 'easily' jump ten-fold in the next two decades, economist says
▼ + stars: | 2024-04-09 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

After overtaking Hong Kong's stock market in December, India currently has the fourth largest in the world, and is now valued at over $4 trillion. India's market capitalization can easily grow to $40 trillion in the next 20 years, driven by stronger investor confidence and robust economic growth, analysts said. After overtaking Hong Kong in December, the country's market is now ranked the fourth largest in the world, valued at over $4.6 trillion. "India's GDP growth has led to companies increasing their earnings and that is resulting in the stock market performance," said Atul Singh, CEO and managing director of wealth management firm LGT Wealth India. The country's financial year starts on April 1 and ends on March 31.

Persons: Sujan Hajra, Anand Rathi, Manish Chokhani, Atul Singh Organizations: Hong, Enam Holdings, BSE, LGT Wealth, India's Ministry, Statistics Locations: India, Hong Kong

☆ CNBC Daily Open: Risk aversion in vogue
▼ + stars: | 2024-04-05 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hong Kong's Hang Seng Index edged up 0.1%., while mainland China markets remain shut for a public holiday. The Dow Jones Industrial Average closed down Thursday 1.35% at 38,596.98 in its biggest loss since March 2023 and fourth-straight daily loss. The profit guidance for 6.6 trillion Korean won ($4.89 billion) exceeded even LSEG's estimate of 5.24 trillion won.

Persons: Korea's Kospi, Brent, nonfarm payrolls, Dow, Janet Yellen, Yellen, hasn't Organizations: CNBC, Japan, Federal Reserve, Nikkei, West Texas, Dow Jones, U.S . Federal, Treasury, American, of Commerce, Chips, Samsung Electronics, Tech, Apple Locations: Asia, China, China U.S, Guangzhou, California

☆ Nvidia plans to build a $200 million AI center in Indonesia amid push into Southeast Asia
▼ + stars: | 2024-04-05 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California, on Feb. 11, 2015. Nvidia is planning to build a $200 million artificial intelligence center in Indonesia in partnership with local telco giant Indosat Ooredoo Hutchison, as the U.S. tech darling continues its push into Southeast Asia. Indosat did not respond to a request for comment, while Nvidia declined to comment on the matter. Indosat Ooredoo Hutchison is Indonesia's second-largest mobile telco after a 2022 merger between Qatar's Ooredoo and Hong Kong's CK Hutchison. Nvidia's increased presence in Indonesia represents a broader push into Southeast Asia this year as data demand in the region booms on the back of the growing digital economy.

Persons: Ooredoo Hutchison, Budi Arie Setiadi, Indosat, Blackwell, Indosat Ooredoo Hutchison, Kong's CK Hutchison Organizations: Nvidia, Indonesia's, Information Technology, Qatar's, Kong's Locations: Santa Clara , California, Indonesia, U.S, Southeast Asia, Surakarta, Central Java, Nvidia's

☆ Asia markets fall as shares of electric vehicle makers in focus
▼ + stars: | 2024-04-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A customer is paying attention to the Chinese stock market at a stock exchange in Hangzhou, China, on January 22, 2024. (Photo by Costfoto/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty ImagesAsia-Pacific stocks declined Wednesday after a mixed session, with markets watching for moves in electric vehicle makers. Tesla's first-quarter vehicle deliveries dropped 8.5% from a year ago, sending shares of the U.S. EV maker down 5%. Japan's Nikkei 225 is down over 1.3% on its open, with the broad based Topix 0.82% lower. Futures for Hong Kong's Hang Seng index stood at 16,907, pointing to a marginally lower open after the index ended more than 2% higher at 16,931.52.

Persons: Tesla's, BYD, Kospi Organizations: Getty, Nurphoto, U.S, U.S . Federal Reserve, Japan's Nikkei Locations: Hangzhou, China, Asia, Pacific, Australia

☆ The best street style we spotted at Art Basel Hong Kong 2024
▼ + stars: | 2024-04-03 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +1 min

Fashion's elite, including Maison Margiela's Stefano Rosso, attended Art Basel in Hong Kong last month. BI was in Hong Kong to admire art, but also the city's innovative fashion sense. This article is part of BI's 2024 Art Basel series, taking you inside the art fair's global scene. Fashion and art are inextricably linked — evident at this year's Art Basel in Hong Kong. The art fair, sponsored by UBS, attracted more than 240 galleries from around the world to descend on the Hong Kong Convention and Exhibition Centre last month.

Persons: Maison Margiela's Stefano Rosso, —, Art Basel Organizations: Art Basel, BI, Service, Art, UBS, Hong Kong Convention, Exhibition, Harbour Locations: Hong Kong, Basel, Art Basel, Hong

☆ China and Hong Kong stocks lost nearly $5 trillion in 3 years — more than India's market cap
▼ + stars: | 2024-04-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Stocks in China and Hong Kong sold off a massive $4.8 trillion in market capitalization since 2021, which according to HSBC, is more than the value of the Indian stock market. The statistic does not bode well for either China or Hong Kong, especially when the National Stock Exchange of India has only grown during the same period. The NSE overtook Hong Kong Stock Exchanges and Clearing to become the fourth largest in the world in January, according to data from the World Federation of Exchanges, and is worth $4.63 trillion, making it the third largest in Asia. This is indicative of how much traction Indian stocks have gained in the last few years, in contrast to declines in both China and Hong Kong. Hong Kong's Hang Seng index performed even worse, with 2023 as its fourth consecutive decline ending the year 13.8% lower.

Persons: bode Organizations: Bombay Stock Exchange, HSBC, National Stock Exchange of, Hong Kong Stock Exchanges, World Federation of Exchanges, Hong Kong . Mainland China's CSI Locations: MUMBAI, MAHARASHTRA, INDIA, Bombay, Mumbai, Stocks, China, Hong Kong, National Stock Exchange of India, Asia, Hong Kong . Mainland

☆ Asia markets mixed with focus on South Korea inflation print, factory data from Australia and India
▼ + stars: | 2024-04-02 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A customer pays for his purchase at a dried food stall in Seoul, South Korea, on Thursday, March 3, 2022. Photographer: SeongJoon Cho/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesAsia-Pacific markets were mixed Tuesday, as investors assessed economic data from South Korea and Australia. South Korea's March inflation rate held steady at 3.1%, in line with expectations from economists polled by Reuters. Factory activity data from India is also due later in the day, with economists polled by Reuters expecting a stronger PMI reading of 59.4. South Korea's Kospi was down 0.34% and the Kosdaq slid 1.11% after the inflation reading.

Persons: SeongJoon Cho, Kospi Organizations: Bloomberg, Getty Images Bloomberg, Getty, Reuters, Nikkei Locations: Seoul, South Korea, Asia, Pacific, Australia, India

☆ CNBC Daily Open: Focus turns to key inflation data
▼ + stars: | 2024-03-28 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

Photographer: Christopher Dilts/Bloomberg via Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Xi on China tech progressChinese President Xi Jinping told Dutch Prime Minister Mark Rutte that no force can stop China's tech advance. Separately, Xi also told U.S. executives that bilateral ties can have a "brighter future" and vowed to improve the business environment. The next few days could prove crucial in diverting trade away from the port, logistics executives told CNBC, after a container ship collided into the Francis Scott Key Bridge early Tuesday.

Persons: Christopher Dilts, Topix, Xi, Xi Jinping, Mark Rutte, Janet Yellen, Yellen, Francis Scott Key, David Neuhauser Organizations: Bloomberg, Getty, CNBC, Nikkei, U.S ., CSI, Dow, Nasdaq, Dutch, Xinhua News Agency, U.S, Treasury, Francis Scott Key Bridge, Livermore Partners Locations: Chicago , Illinois, Japan, Seng, China, Beijing, U.S, Baltimore, Port of Baltimore

☆ CNBC Daily Open: Baltimore port shutdown a major disruption
▼ + stars: | 2024-03-27 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. India is one of the biggest markets for gold, which plays a key role in its culture. Scramble over port shutdownLogistics firms are left scrambling after the closure of the Port of Baltimore, one of the busiest ports in the U.S. Cocoa prices soarCocoa prices are surging and this could impact consumers as the world struggles with a supply deficit.

Persons: Yen tumbles, Dow, BlackRock's Larry Fink, Francis Scott Key, Richard Meade, Paul, Vahan Janjigian Organizations: CNBC, Nikkei, CSI, Nasdaq, Rabobank, Greenwich Wealth Management Locations: Seng, Blackrock, India, Port of Baltimore, U.S, Baltimore

☆ Alibaba scraps IPO of logistics unit Cainiao, says it will take full ownership
▼ + stars: | 2024-03-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The Alibaba Group company logo is displayed on a screen at the New York Stock Exchange during morning trading on February 14, 2024 in New York City. Alibaba on Tuesday said it was scrapping a planned initial public offering for its smart logistics unit Cainiao, adding to recent woes for the former Chinese tech darling. The shelving of the planned IPO — which would have been a boon to Alibaba, handing it an injection of cash with a key exit deal — comes after deteriorating market conditions in China. In a press release Tuesday, Alibaba said that it was withdrawing its IPO and listing application for Cainiao, and would also buy the remaining shares of the company it does not already currently own. Cainiao, which Alibaba first launched in May 2013, provides warehousing and fulfillment services, last-mile delivery and pick-up posts, and reverse logistics to customers of Alibaba's Taobao and Tmall e-commerce sites.

Persons: —, Alibaba, Joe Tsai Organizations: Alibaba Group, New York Stock Exchange, Investors, Baidu, U.S, Dow Jones Industrial, Tech Locations: New York City, Alibaba, China, U.S, Cainiao, Hong Kong

☆ CNBC Daily Open: Inflation isn't coming down fast enough
▼ + stars: | 2024-03-26 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Indian bonds on global indexesIndian bonds are set to be added to global indexes which could be a gamechanger for the country. Trump Media to start tradingThe company behind former President Donald Trump's social media platform Truth Social, will start trading on Tuesday. Called Trump Media & Technology Group Corp., it will trade on the NASDAQ under the stock ticker symbol DJT.

Persons: Patria Stodghill, vender Susan Mendoza, Donald Trump's, Trump, David Dietze Organizations: Patria, Washington , DC, CNBC, CSI, Federal Reserve, Dow, Nasdaq, Bloomberg, Services, China Apple, Wedbush Securities, Huawei, Apple, Trump Media, Trump Media & Technology Group Corp, NASDAQ, Nvidia, Wealth Management Locations: Washington ,, South Korea, Seng, China

☆ Asia markets poised for mixed open as investors await inflation data from the region this week
▼ + stars: | 2024-03-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Roslan Rahman | AFP | Getty ImagesAsia-Pacific markets were set to open mixed as investors await a slew of inflation reports from the region. Singapore and Malaysia will release their February inflation reports on Monday, while Australia's inflation numbers will be out on Wednesday. Tokyo's inflation numbers are due Friday. The capital's inflation numbers are widely seen as a leading indicator of nationwide trends. Futures for Hong Kong's Hang Seng index stood at 16,515, pointing to a slightly stronger open compared with the HSI's last close of 16,499.47.

Persons: Roslan Rahman Organizations: AFP, Getty, Nikkei Locations: Sands, Singapore, Asia, Pacific, Malaysia, Australia, Chicago, Osaka

☆ CNBC Daily Open: U.S. labor market is in 'good shape'
▼ + stars: | 2024-03-25 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Asia stocks mixedAsia markets were mixed Monday with a slew of inflation data from the region due for release this week. Wall Street ended Friday on a mixed note ahead of a shortened four-day trading week due to the Good Friday holiday. "We really believe in style diversification and feel that remaining diversified with value and growth stocks remains prudent," Benson said.

Persons: Seng, Dow, Kristalina Georgieva, Aaron Benson, Baird, Benson Organizations: CNBC, CSI, Nikkei, Nasdaq, IMF, China, International Monetary Fund, Intel, AMD, Financial Times Locations: Asia, China, Beijing

☆ 'Hong Kong is China's Hong Kong': Beijing hits back at U.S. for 'slandering' city's new security law
▼ + stars: | 2024-03-21 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

The flags of China and Hong Kong displayed in rows. China's embassy hit back against U.S. criticism of Hong Kong's new national security law on Thursday, saying the U.S. should "respect China's sovereignty." Hong Kong lawmakers passed a new national security law on Tuesday which critics say grants the government more power to quash dissent. "Hong Kong is China's Hong Kong. Hong Kong affairs are purely China's internal affairs, which no country is in the position to point fingers at or interfere in," a spokesperson said on Wednesday.

Persons: Hong, Hong Kong's, Vedant Patel, John Lee, Wang Yi, — CNBC's Evelyn Cheng, Clement Tan Organizations: U.S . State Department, Kong's Legislative, China's, Beijing, China - Locations: China, Hong Kong, U.S, China's, Hong Kong . Hong Kong, Kong's, China - U.S

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