Sun, June 16, 2024

Hong Kong

American families and ongoing situation

U.S. Treasury Expands Crypto Sanctions on 300 Entities

Quick Look: On January 12, 2023, the U.S. imposed sanctions on 300 individuals and entities in Russia’s military-industrial complex. Sanctions were applied to Andrey Sudakov of Polyus and Mu Xiaolu of Hong Kong for gold laundering. In May 2023, OKO Design Bureau faced sanctions for soliciting cryptocurrency donations. On June 12, 2024, the U.S. expanded …

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Broker News

UP Fintech’s Q1 2024 Revenue Up by 19%, Profits Double

UP Fintech Holding Limited announced its unaudited Q1 2024 financials, ending March 31. CEO Wu Tianhua revealed a 19% year-over-year revenue rise, reaching $78.9 million. Net income attributable to UP Fintech’s ordinary shareholders rose to $12.3 million, showcasing a solid performance in Q1. Non-GAAP net income hit $14.7 million, reflecting financial strength and efficiency. UP …

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insect cameras

Insect-Eye Cameras Offer 220-Degree View for Robots

Quick Look: Inspired by insect eyes, featuring cheap, lightweight visual sensors for robots and autonomous vehicles. Utilises perovskite nanowires and a 3D-printed hemisphere, offering up to a 220-degree field of view. Effective in drone swarms and robotic dog tracking systems, enhancing navigation and motion sensitivity. Researchers have designed artificial compound eyes inspired by insects, promising …

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Crypto lock, web3, worldcoin

Worldcoin Faces Hong Kong Probe for Privacy Violations

Quick Look: Worldcoin violated data privacy rules, excessively retaining biometric data and lacking transparency. An enforcement notice demands that Worldcoin stop collecting biometric data. Undercover operations found over 8,000 scans. Concerns about Worldcoin’s viability due to devaluation and upcoming token unlock, risking $50 million daily sell pressure. The Office of the Privacy Commissioner for Personal …

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bitcoin

Bitcoin Slips to $61,974 Amid Regulatory Woes

Quick Look: Bitcoin dipped to $61,974.9, down 0.9%, amid market fluctuations driven by regulatory and economic updates. The Fed’s monetary stance and upcoming US CPI data are crucial in shaping crypto market sentiments. Increased US crypto regulations and geopolitical tensions are affecting altcoins, underscoring the interconnectedness of global markets. Today, Bitcoin’s trading price is $61,974.9, …

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Weekly Market Overview: Forex, Stocks, Crypto, Commodities. Kucoin, near

NEAR Protocol Jumps 35.86% in a Week to $7.4 Amid AI Optimism

Quick Look: NEAR Protocol sees a strong price rally, currently trading at $7.4 after a 35.86% weekly increase. Key support levels are at $6.00, with potential declines to $5.13 if breached. A recent keynote emphasized AI and Web3 integration, highlighting the need for open-source AI for innovation. The NEAR Protocol has registered a striking price …

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bitcoin

Bitcoin Climbs $65K Amid Tensions and Halving

Quick Look:  Bitcoin recovers to $65,000 despite geopolitical stress. The global crypto market cap stands at $2.36 trillion. Bitcoin halving is set to halve miner rewards on April 20. Rising AI industry competition boosts electricity prices. Hong Kong’s Bitcoin ETFs could drive significant demand. Bitcoin has shown notable resilience in recent days. Thereby navigating through …

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China

China’s Economy Hits 30-Year Low, Eyes 5% Growth

Quick Look China’s GDP growth has reached a 30-year low amidst a backdrop of declining birth rates and high youth unemployment. Despite challenges in the financial and property markets, sectors like tourism, electric vehicles, and solar panels show robust growth. The economy expanded by nearly 5% last year, driven by industries outside the troubled housing …

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Wibest – Asian Market: The Nikkei Stock Average with red down arrow.

Nikkei 225 Hits 39,098.68: A 44% Yearly Surge

Quick Look The Nikkei 225 index surpasses its 1989 peak, closing at 39,098.68. Sharp gains in chip-related shares and significant foreign investment drive the index’s rise. Over the past year, the Nikkei has surged by approximately 44%, outperforming many global counterparts. Governance reforms and corporate efficiency measures contribute to market attractiveness. Record stock buybacks and …

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Hong Kong and tech companies

Hong Kong’s $27M Investment Scheme Targets Global Wealth

Quick Look Hong Kong introduces a revised Capital Investment Entrant Scheme (CIES). It is targeting individuals, with a minimum investment threshold set at HK$27 million. The scheme aims to reinforce Hong Kong’s status as Asia’s leading financial hub. Leveraging the fast-growing wealth in the Greater Bay Area (GBA). Over 9,000 businesses with overseas/China parent companies …

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Stocks on April 6

Markets Wobble: Nasdaq Dips 0.2%, Tech Tumbles

Quick Look Nasdaq 100 futures dipped by 0.2%, signalling a cautious market sentiment. Significant after-hours movements: Palo Alto Networks plummets by 20%, SolarEdge Technologies falls by over 10%. Nvidia’s 4% slump raises concerns over tech sector valuations. Anticipation for the Federal Reserve’s January meeting minutes and a lineup of earnings announcements. Asian markets show mixed …

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Skepticism Looming Over the US Stocks? Again?

S&P 500 Hits 5000 in Historic Market Milestone

Quick Look During intraday trading, the S&P 500 crossed the historic 5000 mark for the first time. Dow Jones Industrial Average dipped slightly, while S&P 500 and Nasdaq 100 futures saw marginal declines. A disappointing forecast impacted the tech sector’s outlook on Pinterest shares fell 9% after hours. The transition of Hong Kong Exchange’s CEO …

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