International Business Times Hongkong

Top Story

APEC Finance Ministers' Meeting To Open In Hong Kong Next Tuesday, Lan Fo'an Reportedly Set To Speak

Hong Kong will host the APEC finance ministers' meeting for the first time, with a draft agenda indicating that Chinese Finance Minister Lan Fo'an may deliver the opening remarks on October 20. The arrangement has yet to be officially confirmed.

SFC Freezes Record HK$4.379 Billion Over Suspected ChaBaiDao IPO Manipulation
The Securities and Futures Commission has issued restriction notices to 35 brokerages involving two groups suspected of manipulating subscriptions for three new listings. The asset restrictions total up to HK$4.664 billion, while ChaBaiDao has also been ordered to suspend trading.
McDonald's accused of using AI pricing system to coordinate prices at nearly 14,000 US outlets
An Illinois resident has sued McDonald's in the United States, alleging that it used an AI pricing system to share franchisee data and coordinate prices in breach of antitrust law. McDonald's denies the allegations, and the court has yet to rule on the merits of the case.
Hong Kong-listed companies facing audit disclaimer rise from 12 to 95 in eight years
The SFC, AFR and HKEX said the number of listed issuers receiving a disclaimer of opinion from auditors solely because of going-concern issues had risen to 95. They warned that companies with inadequate disclosures could face regulatory or enforcement action.

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.

The Spotlight

EIA Raises Fourth-quarter Oil Price Forecast To US$105, September Average Hits US$114

The US Energy Information Administration has raised its Brent crude price forecasts for 2026 and 2027, citing constrained Middle East exports, falling inventories and a tight diesel market. Future prices will depend on shipping routes, stock levels and measures announced by the G7.

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

Business

Technology

Reflection AI has yet to launch a model. Why are investors already betting on it?
US AI start-up Reflection AI is reportedly preparing to launch its first open-weight model and has secured more than US$7 billion in computing capacity through arrangements with SpaceX and Nebius. Its business model, however, still faces tests over costs and market demand.
Chinese AI models outpace US rivals on OpenRouter for 23rd straight week as anonymous Space Bunny tops single-model chart
OpenAI safety executive David Robinson leaves company — what did he say in his departure post?

World

US$1.6 billion Three Mile Island restart delayed until 2031 over grid connection
Constellation Energy’s plan to restart Three Mile Island Unit 1 has been delayed from 2027 to 2031, mainly because of delays to PJM transmission upgrades. The project still requires regulatory and local approvals.
FTC Sues Amazon Over $20bn In Hidden Ad Auction Charges
Six mainland investment advisers punished within a week, three barred from taking new clients

Hong Kong

Economy

Hong Kong gold clearing system set to go live in first quarter of 2027
Financial Secretary Christopher Hui says Hong Kong’s central gold clearing and settlement system is expected to begin operations in the first quarter of 2027, with 11 banks currently taking part in its pilot run.
Hang Seng Index falls 11% in first half, but Hong Kong brokers earn HK$51.7 billion
What if high rates persist into next year? Moody’s Zandi says AI giants can cope, others may not

Politics

One phrase from Rosanna Law has all but answered the Tenant Purchase Scheme question
Chief Executive John Lee will deliver his Policy Address and Hong Kong's first five-year plan tomorrow, but the Tenant Purchase Scheme is unlikely to be relaunched immediately. The government may provide an update on the study, with any revival still dependent on its findings.
Hong Kong Courts Uncover Cross-Border Syndicates in Money Laundering Sentences
Xi Jinping to Lead Major Chinese Business Delegation to Washington Amidst Trade Tensions

Culture

APEC Finance Ministers' Meeting To Open In Hong Kong Next Tuesday, Lan Fo'an Reportedly Set To Speak

SFC Freezes Record HK$4.379 Billion Over Suspected ChaBaiDao IPO Manipulation

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

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

Crude Oil Freight Costs Surge Past US$35 A Barrel To Record High

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

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?

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

Microsoft Shares Hit One-year Closing High As Azure Growth And AI Returns Take Centre Stage

EIA Raises Fourth-quarter Oil Price Forecast To US$105, September Average Hits US$114

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

Ecarx Technology raises up to HK$2.5 billion in Hong Kong IPO despite nearly RMB4.9 billion three-year loss

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

Chinese AI models outpace US rivals on OpenRouter for 23rd straight week as anonymous Space Bunny tops single-model chart

OpenAI safety executive David Robinson leaves company — what did he say in his departure post?

US$1.6 billion Three Mile Island restart delayed until 2031 over grid connection

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

Six mainland investment advisers punished within a week, three barred from taking new clients

Chief Executive says Buildings Department investigating One Stanley construction and supervision

Buildings Department probes One Stanley villa over reinforcement discrepancies

US Yields Hit 19-Year High, but HK Prime Rate Stays at 5%

Wang Fuk Court report still pending as reform plan stalls until end-October

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

What if high rates persist into next year? Moody’s Zandi says AI giants can cope, others may not

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

Xi Jinping to Lead Major Chinese Business Delegation to Washington Amidst Trade Tensions

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