Hong Kong Exchanges & Clearing Ltd. shares plunged as the city unveiled its first increase to the stamp duty on stock trades since 1993. The shares lost as much as 9.3% on Wednesday, the biggest decline since a bubble in China’s stock market was bursting in 2015. The Hong Kong Economic Times said in a… Continue reading HKEX Plunges Most Since 2015 on Stamp Duty Increase
‘Black Swan’ Author Nassim Nicholas Taleb Calls Bitcoin a Failure, at Least for Now
In his Twitter account, Nassim Nicholas Taleb, author of “The Black Swan,” says he has been getting rid of his Bitcoin. Taleb also said in a separate tweet Bitcoin has failed as a hedge against central bank policies. Source: ‘Black Swan’ Author Calls Bitcoin a Failure, at Least for Now – Bloomberg
CSOP kicks off launch of Hong Kong’s Star Market ETFs
A Chinese asset manager has launched the first Hong Kong exchange traded fund to track China’s Star Market, a Shanghai-based science and technology board that has drawn huge interest on the mainland since it was established 18 months ago. CSOP Asset Management’s launch comes as fellow Chinese managers, E Fund Management (HK) and Bosera Asset Management, are also… Continue reading CSOP kicks off launch of Hong Kong’s Star Market ETFs
Tencent’s $251 Billion Rally Triggers Frenzy in Shares, Options
Hong Kong’s equity traders can’t get enough of Tencent Holdings Ltd., the $950 billion giant that’s on pace for its biggest ever monthly gain. They’re paying up for bullish derivatives tracking the Chinese internet firm, buying thousands of January call options that expire Thursday. The price of one Tencent contract — which bets the stock… Continue reading Tencent’s $251 Billion Rally Triggers Frenzy in Shares, Options
