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☆ Matthew Trickett: British man accused of spying for Hong Kong’s intelligence services found dead in park
▼ + stars: | 2024-05-21 | by ( Sharon Braithwaite | ) edition.cnn.com time to read: +2 min

London CNN —A man charged by British police for allegedly spying for Hong Kong’s intelligence services, has been found dead in a park outside of London. Trickett had appeared alongside two other suspects at Westminster Magistrates’ Court on May 13, charged with national security offences. “Trickett was on court bail, awaiting court proceedings, which required him to register at a police station regularly,” the police said. Relations between Hong Kong and its former colonial ruler Britain have soured in recent years following mass pro-democracy protests in the Chinese city in 2019 and 2020. The British government has criticized Hong Kong’s Beijing-backed crackdown on almost all opposition in the years following the protests, while Hong Kong authorities have bristled at Britain providing a safe haven for pro-democracy leaders sought by the Hong Kong police.

Persons: Hong, Matthew Trickett, Trickett, “ Trickett, Trickett’s, John Lee, Hong Kong’s, Louisa Cieciora, Lee, Lucas Lilieholm, Chris Lau, Jerome Taylor Organizations: London CNN, British, London . Police, Thames, ’, The Times, Embassy, Hong, Hong Kong, Police, Hong Kong Economic, Trade Office, Economic, Trade Locations: London, Maidenhead , Berkshire, Sunday, Westminster, Hong Kong, Britain, Hong Kong’s Beijing

☆ Briton Charged With Aiding Hong Kong’s Intelligence Service Is Found Dead
▼ + stars: | 2024-05-21 | by ( Megan Specia | More About Megan Specia | ) www.nytimes.com time to read: +1 min

A former British marine charged with spying for Hong Kong’s intelligence service has died, according to a police statement released on Tuesday evening. The man, who was named by the Thames Valley Police as Matthew Trickett, was found dead in a park in Maidenhead, a town west of London, on Sunday. Mr. Trickett was one of three men charged last week under Britain’s National Security Act with assisting the Hong Kong intelligence service, and their case was expected to return to court on Friday. In the wake of the charges last week, Britain summoned the Chinese ambassador for a reprimand. Mr. Trickett, 37, who was a British immigration enforcement officer and a former Royal Marine, was also the director of a private security firm, MTR Consultancy.

Persons: Hong, Matthew Trickett, Trickett Organizations: Thames, Police, Britain’s National, Hong, Royal, MTR Consultancy Locations: British, Maidenhead, London, Hong Kong, China, Beijing

☆ Why a Tactic Used by Czars Is Back With a Vengeance
▼ + stars: | 2024-05-17 | by ( Amanda Taub | ) www.nytimes.com time to read: +1 min

The day before, the police charged three men with aiding the Hong Kong intelligence service and forcing entry into a residential address. I’m not going to speculate on whether the three men are guilty or innocent, as their court case is ongoing. But the arrests have drawn attention to the phenomenon of “transnational repression,” in which autocratic governments surveil, harass or even attack their own citizens abroad. Last month, following a string of attacks on Iranian journalists, Reporters Without Borders proclaimed London a “hot spot” for the phenomenon. Although transnational repression is an old practice, it appears to be gaining prevalence.

Persons: ”, Hong Kong’s, I’m Organizations: Hong, Foreign, U.K, Borders Locations: London, Hong Kong, China, Britain

☆ An engineering giant behind Apple's HQ and the Sydney Opera House lost $25 million when scammers tricked an employee with a deepfake of a senior exec
▼ + stars: | 2024-05-17 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +1 min

Scammers used deepfakes to trick an employee at engineering firm Arup into handing over $25 million. The Hong Kong office employee believed that they were on a video call with the company's CFO. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementScammers used deepfakes to trick an employee in the Hong Kong office of a major international corporation earlier this year, costing the firm $25 million.

Persons: Scammers, Arup, — Organizations: Service, Financial Times, Sydney Opera House, Business Locations: Hong Kong, California

☆ PGA Championship: When Y.E. Yang became ‘The Tiger Killer’ to clinch Asia’s first men’s major trophy
▼ + stars: | 2024-05-15 | by ( Jack Bantock | ) edition.cnn.com time to read: +13 min

Tiger Woods, world No. Yang?’Despite his giant-slaying efforts, Yang was still relatively unknown when he pitched up to PGA Tour qualifying school the following season. Yang clinched his first PGA Tour title on his fourth start of the season at the Honda Classic to join K.J. Streeter Lecka/Getty Images“I wasn’t that nervous because it’s a game of golf,” Yang told reporters. The 24-year-old American stamped a last-minute ticket to Valhalla with his first PGA Tour victory at the inaugural Myrtle Beach Classic on Sunday.

Persons: Yang, –, Woods, ”, Joe, Mike Douglas, Yang –, Joe ”, fatefully, Yang toasts, ’, “, ” AJ Montecinos, texted, “ I’d, ” Montecinos, Montecinos, Jamie Squire, Choi, Montecinos –, Charles Baus, It’s, you’re, – it’s, Streeter Lecka, ” Yang, “ It’s, ” Woods, I’m, Hideki Matsuyama’s, Yang …, Christian Petersen, Montecinos ’, Chris Gotterup, Wanamaker, Tiger Organizations: CNN, Korean –, Hazeltine, Augusta National, –, CBS, European, HSBC, PGA Tour, PGA, Honda, K.J, Koreans, South Korean, Woods, Tiger, Hong, Korean, Southern Hills, Myrtle Beach Locations: Chaska , Minnesota, Jeju, Korea, Asia, Shanghai, China, Korean, Texas, San Antonio, Hazeltine, Woods, Hong Kong, Tulsa , Oklahoma, Valhalla, Kentucky

☆ YouTube says it will block videos of Hong Kong protest anthem following court order
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +2 min

Alphabet's YouTube on Tuesday said it would comply with a court decision and block access inside Hong Kong to 32 video links deemed prohibited content, in what critics say is a blow to freedoms in the financial hub amid a security clampdown. The action follows a government application granted by Hong Kong's Court of Appeal requesting the ban of a protest anthem called "Glory to Hong Kong." In comments criticizing the court order, YouTube said the ruling would raise skepticism around the Hong Kong government's work to foster the digital economy and reclaim its reputation as a predictable place for doing business. "If you start to send platforms 100 or 1,000 links for takedown every day, this will drive platforms crazy and also make global investors more worried about Hong Kong's free market environment. How predictable and how stable the policy environment is matters a lot to foreign investors, and Hong Kong is now at a crossroads to defend its reputation."

Persons: Hong Kongers, We'll, George Chen, Chen, Hong Organizations: YouTube, Hong, Appeal, U.S ., Asia Group, Washington DC, Meta Locations: Hong Kong, Hong Kong's, Washington, Greater China

☆ YouTube blocks videos of Hong Kong protest song after local court order
▼ + stars: | 2024-05-15 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +3 min

CNN —YouTube has blocked access to a popular protest song in Hong Kong, a week after a court in the city granted a government request to ban the anthem. The ballad contains lyrics that reference the phrase “liberate Hong Kong, revolution of our times,” a protest slogan that was already outlawed in 2020. The Hong Kong government and courts had said the phrase had secessionist and subversive connotations. CNN has reached out to the Hong Kong Department of Justice for comment. Hong Kong was promised key freedoms and autonomy to run its own affairs after it was handed over from British rule to China in 1997.

Persons: We’ll, ”, Hong Kong ”, Jeff Paine, Paul Lam, Hong Kong, Hong Kong’s Organizations: CNN, YouTube, Google, ” CNN, Spotify, Hong, Asia Internet Coalition, Meta, Hong Kong Department of Justice, Hong Kong, “, Volunteers, ”, Hong Kong’s Department of Justice Locations: Hong Kong, Beijing, Hong, China

Hong Kong CNN —Hong Kong’s leader responded on Tuesday after three people were charged by British police for allegedly spying on behalf of the city’s intelligence services. Relations between Hong Kong and its former colonial ruler Britain have soured in recent years following mass pro-democracy protests in the Chinese city in 2019 and 2020. The British government has criticized Hong Kong’s Beijing-backed crackdown on almost all opposition in the years following the protests, while Hong Kong authorities have bristled at Britain providing a safe haven for pro-democracy leaders sought by the Hong Kong police. Hong Kong leader Lee noted in his Tuesday news conference that one of the men charged was the office manager of the Hong Kong Economic and Trade Office in London but did not directly address a question over whether it was involved in surveillance of Hong Kong dissidents in the UK. Hong Kong Chief Executive John Lee is speaking at a press conference on April 30, 2024.

Persons: Hong, Chi Leung, Peter, Wai, Matthew Trickett, Chung Biu Yuen, Hong Kong’s, John Lee, ” Lee, Chi Leung Wai, Yui Mok, Jonathan Brady, Yuen, Louisa Cieciora, Lee, Vernon Yuen, ”, Dominic Murphy Organizations: Hong Kong CNN, British, Hong, city’s Metropolitan Police, Hong Kong, Embassy, Westminster Magistrates, Administrative, Police, Hong Kong Economic, Trade Office, . Hong, Economic, Trade, Metropolitan Police, UK National Security, Crown Prosecution Service, Command, Met Police Locations: Hong Kong, Westminster, London, city’s, Britain, Hong Kong’s Beijing, . Hong Kong, England

☆ U.K. Police Charge 3 Men With Aiding Hong Kong Intelligence Service
▼ + stars: | 2024-05-13 | by ( Stephen Castle | More About Stephen Castle | ) www.nytimes.com time to read: 1 min

Three men have been charged with assisting the Hong Kong intelligence service, the London Metropolitan Police said on Monday, following an investigation in which arrests and searches were carried out across England. The three people charged under Britain’s National Security Act were identified as Chi Leung (Peter) Wai, 38, of Staines-upon-Thames, Matthew Trickett, 37, of Maidenhead, and Chung Biu Yuen, 63, of Hackney, East London. “The foreign intelligence service to which the above charges relate is that of Hong Kong,” the police said in a statement. All three men were to appear at Westminster Magistrates’ Court on Monday. As court proceedings are now active, Britain’s reporting restrictions apply, preventing speculation about the case.

Persons: Chi Leung, Peter, Wai, Matthew Trickett, Chung Biu Yuen Organizations: Hong, London Metropolitan Police, Britain’s National Security, ’ Locations: Hong Kong, England, Staines, Maidenhead, Hackney, East London, Westminster

☆ A Hong Kong-based crypto exchange used deepfakes of Elon Musk to claim the billionaire was its lead developer
▼ + stars: | 2024-05-12 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

The Hong Kong Securities and Futures Commission issued a warning last week about deepfake scams. Related storiesAs the technology behind artificial intelligence advances, scammers are increasingly using deepfakes to dupe their victims into handing over cash. The group in Hong Kong claimed to provide a cryptocurrency trading service using underlying artificial intelligence. But Hong Kong authorities said they suspect it is a front for "virtual asset related fraudulent activities." The Hong Kong Police Force did not return a request for comment from BI.

Persons: —, Elon, Elon Musk Organizations: Service, Facebook, The Hong Kong Securities, Futures Commission, Business, Yahoo, Authorities, Hong, Crypto News, Hong Kong Police Force Locations: The, Hong Kong, South Korean

☆ China is untangling its economy from the West. It could be preparing for long-term tensions — and an invasion of Taiwan
▼ + stars: | 2024-05-10 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

What's more, Xi Jinping has told the Chinese military to prepare for war and said that reunification with Taiwan is inevitable. But not everyone thinks a Chinese military move is necessarily imminent. If China was actively preparing for a near-term invasion of Taiwan, Kennedy said there are a few things he might expect to see first. AdvertisementIf China does invade, the global economic impact would be huge, and despite its efforts to secure its economy, China would likely be far from unscathed. "Any action against Taiwan would be disastrous for China's economy," Chilukuri said.

Persons: —, Vivek Chilukuri, Scott Kennedy, It's, Chilukuri, Xi Jinping, China's, Jinping, Kennedy, he'd Organizations: Service, Business, West, Center, New, New American Security, Center for Strategic, International Studies Locations: China, Southeast Asia, Europe, US, Taiwan, New American, United States, Russia, Ukraine, Hong Kong

☆ He left his desk job in the US to run a food stall in Hong Kong. He earns more now — but plans to walk away from it soon.
▼ + stars: | 2024-05-10 | by ( Faye Bradley | ) www.businessinsider.com time to read: +9 min

Toby To Yan Choi left his accounting job in California to help his father run a food stall in Hong Kong. Dai pai dongs — Hong Kong's open-air stalls serving food with a no-frills approach — are disappearing. The number of dai pai dongs in all of Hong Kong has dwindled to just over 20, according to the Hong Kong Tourism Board. The braised white pepper pork hock is one of the signature dishes at Dai Lee Dai Pai Dong. AdvertisementHe's gotten married since moving to Hong Kong and plans to move back to the US if he and his wife have kids.

Persons: Toby, Yan Choi, Dai pai dongs, —, Santa Barbara, Choi, Dai Lee Dai Pai Dong, pai, Hong Kong, He's, Hong Kong Dai pai dongs, Hong, sizzling woks, Agnes Chee Yan, Wei, pai dongs, Tiffany Leung, Faye Bradley, wasn't, Shawn Cai, Law Chun Chuen, Dai Lee Dai Pai, Yan Choi There's, they've, Tony Lee, Mok Wah Ho, Ales, Yan Choi He's, Betty Richardson, dongs, Chee, I'm Organizations: Service, University of California, Kong's, Hong Kong Tourism Board, China Morning Post, Young Locations: California, Hong Kong, Santa, Hong, Sham Shui, Sham, China, Shanghai

☆ Asia markets higher as Wall Street gains ahead of key U.S. jobs report
▼ + stars: | 2024-05-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A gong inside the Hong Kong Stock Exchange. China Vanke's subsidiary Onewo and EV maker Zhejiang Leapmotor Technology began trading on the Hong Kong market on Thursday. Asia-Pacific markets rose on Friday, tracking Wall Street gains ahead of key U.S. employment data. Economists polled by Dow Jones expect to see 240,000 job gains in the U.S. April nonfarm payrolls report due Friday at 0830a.m. Stock markets in Japan and mainland China were shut for public holidays.

Persons: Dow Jones, nonfarm Organizations: Hong Kong Stock Exchange, China Vanke's, Zhejiang Leapmotor Technology, Apple, Investors, U.S . Federal Reserve, Stock, U.S Locations: China, Hong Kong, Asia, Pacific, U.S, 0830a.m, Taiwan, South Korea, South, Japan

☆ Hong Kong transgender activist gets new male ID after yearslong legal battle
▼ + stars: | 2024-04-30 | by ( Chris Lau | ) edition.cnn.com time to read: +5 min

On Monday, Tse finally picked up a new ID card that registered his gender as male at Hong Kong’s immigration office. The 33-year-old activist, who holds both British and Hong Kong passports, identifies as a man and has lived as a man for years. His British passport identifies him as male but Hong Kong authorities refused to make that change for the city’s identity card, which is compulsory for all residents. So in 2017, Tse took legal action against the Hong Kong government, which fought the case all the way. LGBTQ activists in Hong Kong have long questioned why they must keep fighting through the courts to gain recognition and equality, but they have nonetheless seen repeated successes.

Persons: Henry Tse, Tse, –, ” Tse, Hong, ”, Xi Organizations: Hong Kong CNN, British, Hong, Appeal, CNN, Kong’s Immigration Department, Reuters Locations: Hong Kong, Hong, East Asia, Kong’s, Tse’s, China, Taiwan, Asia, Japan

☆ 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

☆ Covid caused a ‘massive spike’ in yacht sales — now some of those boats are back on the market
▼ + stars: | 2024-04-30 | by ( Monica Pitrelli | Poonam Binayak | ) www.cnbc.com time to read: +3 min

The pandemic spurred a "massive spike" in yacht sales, said Richard Allen, chief operating officer of the Hong Kong-based yachting company Simpson Marine. "We've seen a lot of those people, that had their boats for two years, sort of now wanting to travel," he told CNBC. Prices in the pre-owned marketEnthusiasm for yachting remains high, even if sales have fallen since 2021, said Casani. Casani and Allen, who spoke to CNBC on April 26 while attending the second annual Singapore Yachting Festival, agreed that the continent's yachting market is growing. "We need to do a lot of lobbying with governments to make it easier to import boats," said Allen.

Persons: Richard Allen, we've, Paolo Casani, Allen —, Allen, Casani Organizations: Simpson, CNBC, Singapore Yachting Festival, International Council of Marine Industry Associations Locations: Hong Kong, Monaco, Asia, Singapore, Indonesia, Philippines, Vietnam

☆ Goldman Sachs likes these 2 mobile gaming stocks set for 'blockbuster' launches, gives one 40% upside
▼ + stars: | 2024-04-26 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Investors seeking exposure to China's growing mobile gaming industry should look at technology giants Tencent and NetEase , according to Goldman Sachs. The investment bank expects "China to see faster growth from mid 2024 supported by game launches and a loosening regulatory environment." Tencent Tencent's game sales were up 14% year on year domestically in March and 36% internationally. NetEase NetEase posted a 16% year-on-year rise in domestic sales growth and 1% rise in international sales growth last month, Goldman's analysts noted. Domestic mobile game sales fell by 12% year-on-year Japan in the first quarter of the year.

Persons: Goldman Sachs, 2Q24, Lincoln Kong, FactSet, NetEase NetEase, Michael Bloom Organizations: Street, Hong, Nasdaq, Hong Kong Stock Exchange, China, Domestic Locations: China, Tencent, Hong Kong, Japan, South Korea

☆ Long-Lost Klimt Painting Sells for $37 Million at Auction
▼ + stars: | 2024-04-24 | by ( Scott Reyburn | ) www.nytimes.com time to read: +1 min

“Portrait of Fräulein Lieser,” an enigmatic, long-lost 1917 painting by Gustav Klimt, sold Wednesday for 35 million euros with fees, or about $37 million, at the auction house im Kinsky in Vienna. The unsigned and unfinished work was estimated to sell for between $32 million and $53 million, before the addition of fees. The winning bid was tendered in the room by Patti Wong, the founder of the Hong Kong-based art advisory company, Patti Wong Associates. The result was remarkable, given that there are questions surrounding this Klimt portrait. The auction house said in its sale catalog that it had “not been able to clarify the precise provenance of the painting” since 1925, and the identity of the seller has not been revealed.

Persons: Fräulein, Gustav Klimt, Patti Wong, Wong Organizations: Patti Wong Associates Locations: Vienna, Hong Kong, Austria

☆ Bubble tea: ChaPanda shares plunge in Hong Kong IPO
▼ + stars: | 2024-04-23 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

The company, also known as Chabaidao or ChaPanda, had priced its shares at $17.50 Hong Kong dollars ($2.23) apiece, but they plunged as low as $10.80 Hong Kong dollars ($1.38) in the first two hours of trading on the Hong Kong stock exchange. Bubble tea (also called “black pearl tea” or “boba tea”) originated in Taiwan in the 1980s, but has since found millions of devotees around the world. In January, two of China’s most popular bubble tea brands, Mixue Group and Guming Holdings, applied for IPOs on Hong Kong’s stock exchange. Another Chinese bubble tea maker, Nayuki, has lost 88% of its stock market value since going public in Hong Kong in 2021. “The overall turnover and valuation of the (Hong Kong) stock market, which depend on the market liquidity, i.e.

Persons: Baidao, Frost, Frost & Sullivan, Robert Lui, “, ”, Laura Organizations: London CNN —, Hong, Frost &, China, Franchise Association . Stock, Mixue, Guming Holdings, Deloitte Locations: Sichuan, Hong Kong, Chengdu, Taiwan, China, Hong, Dealogic, Shanghai, Shenzhen

☆ Shares of Chinese bubble tea firm Chabaidao plunge nearly 40% in Hong Kong debut
▼ + stars: | 2024-04-23 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Shares of Chinese bubble tea chain Chabaidao tumbled almost 40% on its trading debut on the Hong Kong stock exchange. The stock, officially listed as Sichuan Baicha Baidao Industrial, fell as low as 10.84 Hong Kong dollars in the late morning — about 38% below its IPO price of HK$17.50. The bubble tea firm's IPO was the largest listing in Hong Kong in 2024 so far, with the company garnering net proceeds of HK$2.59 billion from its IPO, before listing expenses, according to its prospectus filed to the Hong Kong exchange. The company said it ranked third in China's freshly made tea shop market in terms of retail sales value in 2023, with a market share of 6.8%

Organizations: Hong, HK Locations: Hong Kong, Sichuan

☆ 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

☆ One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
▼ + stars: | 2024-04-19 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Cathay Pacific is one of just 10 airlines rated five stars by Skytrax. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOne of the best airlines in the world is considering asking business-class passengers to bring their own cutlery on board, the travel news site View From The Wing reported. Cathay Pacific, the Hong Kong flag carrier, is one of just 10 airlines rated five stars by Skytrax.

Persons: —, Skytrax Organizations: Cathay, Skytrax, Service, Cathay Pacific, Business Locations: Hong Kong, Asia, Cathay Pacific

☆ India’s economy and elections: Is the hype around Narendra Modi’s vision justified?
▼ + stars: | 2024-04-16 | by ( Diksha Madhok | Rachel Wilson | ) edition.cnn.com time to read: +9 min

New Delhi/London CNN —In just a few days, India will commence the world’s largest democratic election. So, is the hype around Modi’s India, which remains a largely impoverished country, justified? The world’s largest biometric database has also helped the government save millions by reducing corruption in welfare initiatives. Domestic investors, both retail and institutional, have been driving India’s stock market to unprecedented peaks. Still, India’s economy, much like its democracy, is far from perfect.

Persons: Narendra Modi, Indranil Mukherjee, Modi, Himanshu Sharma, Guido Cozzi, Arun Sankar, Billionaire Elon Musk Organizations: London CNN —, Getty, CNN, World, University of St, Unified, Bank, ”, National Stock Exchange of India, bourse, Bombay Stock Exchange, NSE, Shenzhen Stock Exchange, Hong Kong Exchange, World Federation of Exchanges, Macquarie Capital, Apple, Foxconn, Billionaire, International Labour Organization Locations: New Delhi, London, India, China, Beijing, Ajmer, Rajasthan, University of St Gallen, Switzerland, Asia’s, Washington, Sriperumbudur, Chennai, Mumbai's Churchgate, AFP

☆ 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

☆ Multi-strategy hedge funds in Hong Kong and Singapore are booming. Here's why they're tapping the Middle East to get to the next level.
▼ + stars: | 2024-04-09 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +7 min

To Danny Yong, the Middle East is still Asia. In particular, multi-strategy hedge funds, the industry subset that large allocators are desperate for thanks to their uncorrelated and consistent returns, are growing in markets like Hong Kong and Singapore. Houston-based Pan Capital is planning to hire macro PMs in Hong Kong this year. These people-heavy firms need plenty of talent to make it all work, and the relatively small size of the Singapore market, coupled with political uncertainty in Hong Kong, puts a strain on the entire system. "Managers follow allocator trends, and the Middle East has been actively allocating while other regions have slowed their deployment.

Persons: Danny Yong, firm's, Yong, there's, Kurt Baker, Jonathan Xiong, Bobby Jain, Amir Ravan, Arun Singhal, Alan Howard, Simon Sadler, Dymon, Samantha Rosenstock, Craig Thorburn, It's, Joe Cheung, —, Cheung Organizations: Business, Dymon, UAE, Millennium, Bloomberg, Pan, Segantii Capital Management, Blackpool Football Club, Man, Hong Kong Monetary Authority, Citadel Locations: Asia, Japan, Hong Kong, Singapore, Dubai, Dymon Asia, Houston, Point72, Tokyo, Sidney, Abu Dhabi, United Kingdom, London, Miami, New York, China

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