The Hong Kong arm of China’s biggest asset manager is preparing for a stock market downturn. ChinaAMC (HK) CIO Gan Tian says geopolitical risks are likely to cause the global stock market to tumble. Gan successfully predicted and safeguarded his fund against the stock market crash in March. Gan Tian, chief investment officer of China […]
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Hong Kong is removing tax on businesses and giving away cash in 2020. Coronavirus crashed the tourism industry and has placed the housing market vulnerable to a correction. Hong Kong’s economy could struggle to recover over the next five years. Desperate times call for desperate measures, and the government of Hong Kong is bumping up […]
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Amber Group, a Hong Kong-based startup offering a range of cryptocurrency finance services, has raised $28 million in a Series A funding round. Leading the investment are Paradigm and Pantera Capital, with Polychain Capital, Blockchain.com, Coinbase Ventures and Fenbushi Capital also participating. Existing investor Dragonfly Capital was also on board. Amber said Friday the investment […]
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Hong Kong-based remittance startup Bitspark is shutting down next month. CEO and co-founder George Harrap announced Monday the company, with operations in Hong Kong, the Philippines, Indonesia and Vietnam, would be permanently shuttering its doors on March 4. Customers will have until that day to freely withdraw their funds; customers can request withdrawals for a […]
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Developer Ben Woosley was watching the Hong Kong protesters when he saw something interesting: They were using Bluetooth technology to dodge the internet, allowing them to create a mesh network for organizing and messaging while avoiding intrusion. To create their mesh, the protestors used an app and software development kit, or SDK, called Bridgefy to […]
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CMCC Capital, a Hong Kong-based venture capital firm, has hired Zhao Chen from Neo Global Development, one of the largest blockchain companies in China. Chen will join company as a partner to open an office in Shanghai to lead on equity investments in mainland China blockchain firms, the firm told CoinDesk. “The creation of a […]
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An act that allows sanctions against the Hong Kong government was signed. China warned about taking potential countermeasures, which could endanger a phase one deal. The lack of a deal by the year’s end would threaten the rally of the Dow Jones. U.S. President Donald Trump’s signing of an act regarding sanctions on the government […]
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The Tesla Model 3 officially landed in Hong Kong. But the tone-deaf timing of the roll-out ignited backlash, since HK is being roiled by protests. | Source: (i) Tesla Twitter Account (ii) Reuters; Edited by CCN Tesla proudly touted the release of its Model 3 in Hong Kong. However, the tone-deaf timing of the roll-out […]
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In a move to appease protesters, Hong Kong is reportedly set to formally withdraw the China Extraditions Bill. Hong Kong shares spiked after the news. | Source: Photo by Lillian SUWANRUMPHA / AFP Dow Jones Industrial Average (DJIA) futures climbed 200 points higher in early trading Wednesday. Optimism returned to the market as Hong Kong […]
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Crypto-fever dreamers cheered as Hong Kong protesters suggested organizing a bank run, but apparently rioters didn’t flock to bitcoin. | Source: Shutterstock By CCN Markets: There’s nothing like a bank run to bring out the bitcoin-fever dreamers. Hong Kong protesters reportedly tried the tactic in their latest effort to stop what they see as unfair […]
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