International Business Times Hongkong

Top Story

SFC Clears World-first Tokenised Funds For Trading On Licensed Platform

The SFC has approved the first tokenised money market funds offered to the public for secondary-market trading on a licensed virtual asset trading platform. Investors can trade 24 hours a day, 365 days a year, while subscription, redemption and valuation arrangements remain unchanged.

RTX 5090 Spot Prices In Huaqiangbei Surge Past HK$50,000 As Nvidia Denies Production Halt
Spot prices for the RTX 5090 in Shenzhen's Huaqiangbei have risen to 51,000-55,000 yuan, or about HK$56,000-HK$60,000, amid supply constraints, AI demand and market rumours.
Five-year plan sets 22 KPIs, but leaves Hong Kong's 'biggest strength' without figures
Hong Kong's first five-year plan sets out 105 indicators, but its two directly finance-related indicators are aspirational and contain no quantified targets. Its performance will depend on policy implementation and changes in the city's financial-centre rankings.
HSBC RedCoin arrives on PayMe: why launch a stablecoin if the interface stays the same?
HSBC has launched RedCoin, a Hong Kong dollar stablecoin built directly into the PayMe wallet for transfers and payments. Its commercial success will depend on active wallets, merchant adoption and future wealth management applications.

SpaceX Commits To US$40 Billion GPU Financing Lease To Secure Nvidia's Vera Rubin Chips

SpaceX and an Apollo Global Management-led consortium have signed a commitment letter for a proposed US$40 billion GPU financing lease to acquire Nvidia's Vera Rubin chips. Elon Musk also said debt markets had effectively closed their doors to cloud computing providers without significant non-AI revenue.

The Spotlight

Hong Kong Approves Round-the-clock Trading Of Two Tokenised Money Funds On Licensed Virtual Asset Platform

The SFC has approved round-the-clock secondary-market trading of two tokenised money market funds on a licensed virtual asset trading platform, but investors may face limited liquidity and prices deviating from net asset value outside normal trading hours.

Wosh declines to signal October rate decision as Fed hike bets fall below 15%

Business

Technology

Nvidia in talks to acquire Reflection AI five days after Beam launch, valuing unreleased model at US$25 billion
The Financial Times reports that Nvidia is negotiating to acquire Reflection AI or make an additional investment in the company. Reflection was valued at US$25 billion before its March fundraising, while Nvidia has previously invested about US$800 million.
HarmonyOS takes 24% of China's smartphone market but just 5% globally — can 90 million devices go overseas?
Reflection AI has yet to launch a model. Why are investors already betting on it?

World

Microsoft shares hit one-year closing high as Azure growth and AI returns take centre stage
Microsoft shares reached their highest closing level in nearly a year, taking the company's market value back above US$4 trillion. Strong demand for Azure and Copilot is being weighed against rising capital expenditure and falling free cash flow, leaving the returns on its AI investment under scrutiny.
FTC Sues Amazon Over $20bn In Hidden Ad Auction Charges
McDonald's accused of using AI pricing system to coordinate prices at nearly 14,000 US outlets

Hong Kong

Economy

S&P 500 hits record high as valuations approach dot-com bubble levels
The S&P 500 has hit a record high ahead of the US midterm elections, supported by strong earnings expectations. But valuations are close to historic highs, while interest rates, oil prices and geopolitical tensions could shape the index’s performance after the vote.
Hong Kong gold clearing system set to go live in first quarter of 2027
Hang Seng Index falls 11% in first half, but Hong Kong brokers earn HK$51.7 billion

Politics

SFC acts over suspected manipulation of three IPOs, restricts asset disposals up to HK$4.664 billion
The Securities and Futures Commission says two groups allegedly manipulated demand for the IPOs of PharmAbcine, Chabaidao and ESWIN Computing. Restriction notices were issued to several brokerages, covering assets worth up to HK$4.664 billion in total.
One phrase from Rosanna Law has all but answered the Tenant Purchase Scheme question
Hong Kong Courts Uncover Cross-Border Syndicates in Money Laundering Sentences

Culture

SFC Clears World-first Tokenised Funds For Trading On Licensed Platform

RTX 5090 Spot Prices In Huaqiangbei Surge Past HK$50,000 As Nvidia Denies Production Halt

Five-year plan sets 22 KPIs, but leaves Hong Kong's 'biggest strength' without figures

HSBC RedCoin arrives on PayMe: why launch a stablecoin if the interface stays the same?

Lula Overturns First-round Deficit To Win Re-election, Sending Brazil ETF Down 27% Pre-market

Silver price falls more than half from record high as fund tumbles nearly 70%

ZA Bank offers 21% annualised rate on foreign-currency deposits, but exchange costs and risks apply

Tesla's next-generation Roadster switches to dual-motor rear-wheel drive, targets weight below 1,700kg

Hong Kong brokers tighten mainland clients' buying and funding services, measures to run until 2028

SpaceX Commits To US$40 Billion GPU Financing Lease To Secure Nvidia's Vera Rubin Chips

Hong Kong Approves Round-the-clock Trading Of Two Tokenised Money Funds On Licensed Virtual Asset Platform

Paying Dividends While Raising Debt: 28 Brokerages Distribute RMB27.9 Billion In Interim Payouts As CITIC Wins Approval For RMB40 Billion In New Bonds

BYD’s Smart-driving Fleet Tops 3.72 Million Vehicles, But Huawei System Found In Only One Model

Little-Known Changchuan Plans Hong Kong Listing As It Chases An AI-Driven Chip-Testing Boom

Three departments investigate Seres V800 brake-pedal bracket failures as testing dispute remains unresolved

Nvidia in talks to acquire Reflection AI five days after Beam launch, valuing unreleased model at US$25 billion

HarmonyOS takes 24% of China's smartphone market but just 5% globally — can 90 million devices go overseas?

Reflection AI has yet to launch a model. Why are investors already betting on it?

Microsoft shares hit one-year closing high as Azure growth and AI returns take centre stage

FTC Sues Amazon Over $20bn In Hidden Ad Auction Charges

McDonald's accused of using AI pricing system to coordinate prices at nearly 14,000 US outlets

APEC finance ministers' meeting to open in Hong Kong next Tuesday, Lan Fo'an reportedly set to speak

Hong Kong-listed companies facing audit disclaimer rise from 12 to 95 in eight years

Hong Kong government condemns 'inaccurate' European Parliament recommendations and urges end to interference

22% time deposit yields just 0.3%-0.4% over seven days as currency spreads can wipe out interest

S&P 500 hits record high as valuations approach dot-com bubble levels

Hong Kong gold clearing system set to go live in first quarter of 2027

Hang Seng Index falls 11% in first half, but Hong Kong brokers earn HK$51.7 billion

SFC acts over suspected manipulation of three IPOs, restricts asset disposals up to HK$4.664 billion

One phrase from Rosanna Law has all but answered the Tenant Purchase Scheme question

Hong Kong Courts Uncover Cross-Border Syndicates in Money Laundering Sentences

Mid-Autumn festivities light up Hong Kong as Tai Hang Fire Dragon heads to Victoria Park

Hong Kong To Celebrate National Day With Spectacular 31,888-Shell Fireworks Display Over Victoria Harbour

A Ming Prince Who Painted Furious, Eye-Rolling Fish Is Having a 400-Year-Later Revival