{ }
Asian shares mostly rose, following a Wall Street rally, as U.S. inflation data suggested potential Federal Reserve support for the economy. The Hang Seng surged 1.4%, while the Nikkei 225 gained 1.2%. In the U.S., the S&P 500 climbed 0.8%, driven by tech stocks, despite a slight dip in the Dow.
A Hong Kong lawmaker has raised concerns regarding the government's position on Bitcoin as its global importance continues to grow. The administration is currently evaluating Bitcoin's potential, particularly in light of considerations related to the government's fiscal reserves.
The Hong Kong Monetary Authority diversifies its Exchange Fund investments, including a small portion in crypto assets, despite not considering them a primary target. The government is working on a licensing system for virtual asset service providers and aims to expedite crypto regulations to foster financial innovation. Meanwhile, Dogecoin has shown signs of recovery, with analysts predicting potential price surges, contingent on Bitcoin's performance and favorable market conditions.
Hong Kong is accelerating its crypto regulation updates to align with the rapidly evolving global sector, as highlighted by a recent proposal in the Legislative Council. Acting Secretary Joseph Chan acknowledged the complexities posed by virtual assets while emphasizing the city's commitment to international standards. Meanwhile, Bitcoin's recent price fluctuations have shifted investor focus to altcoins, with analysts predicting an "altseason" lasting until March 2025, as over 64% of the top 50 cryptocurrencies have outperformed Bitcoin in the last 90 days.
Crypto.com has partnered with Deutsche Bank to enhance its corporate banking services in the Asia-Pacific region, focusing on markets like Singapore, Australia, and Hong Kong. This collaboration aims to strengthen Crypto.com’s banking capabilities while Deutsche Bank continues to innovate within the digital asset ecosystem. Additionally, by early 2025, Crypto.com and Ingenico will pilot a project to simplify crypto payments through AXIUM Android terminals, expanding global accessibility for merchants.
Kingsoft Cloud's stock has surged over 6% to HKD 4.86, driven by strong third-quarter performance and positive investor sentiment regarding revenue recovery. UBS has raised its target price from USD 4.2 to USD 12.5, citing increased revenue contributions from Kingsoft and Xiaomi, projected to rise from 20% in 2024 to over 40% by 2027, with an expected annual revenue growth rate of 13% from 2025 to 2027.
Kingsoft Cloud's stock has surged over 6% to HKD 4.86, driven by strong third-quarter performance and optimistic revenue forecasts. UBS has raised its target price from USD 4.2 to USD 12.5, citing increased contributions from Kingsoft and Xiaomi, expected to rise from 20% in 2024 to over 40% by 2027, with a projected annual revenue growth rate of 13% from 2025 to 2027.
Asian stocks are set for a sluggish start as traders await crucial US inflation data that could influence the Federal Reserve's interest rate decisions next week. Sydney stocks dipped slightly, Tokyo futures were down, and Hong Kong shares are expected to open steady. Meanwhile, S&P 500 contracts showed little change following a decline in US stocks and a rise in bond yields ahead of the consumer price index release.
Crypto.com has partnered with Deutsche Bank to provide banking services in Singapore, Australia, and Hong Kong, with plans to expand to Europe and the UK. This collaboration marks a significant step in Crypto.com's growth strategy, enhancing its service offerings beyond crypto trading. The partnership aligns with Crypto.com's roadmap to introduce stocks, banking, and card services by 2025.
Crypto.com has partnered with Deutsche Bank to enhance corporate banking services in the Asia-Pacific region, including Singapore, Australia, and Hong Kong. This collaboration will provide digital asset custody, fiat-to-crypto exchange, and cross-border trading services, with plans to expand into the UK and Europe. As part of its growth strategy, Crypto.com is diversifying into traditional asset trading, having recently acquired Watchdog Capital to offer stocks and equity options in the US.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.