Vietnam 

Foreign investors exchange 3.9m FPT shares – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

IT technicians work at FPT Software Village – a tech hub run by IT group FPT Corporation at Hà Nội’s Hòa Lạc High-Tech Park. Foreign investors on Friday traded nearly 3.9 million shares of the IT giant. — Photo vozforums Viet Nam News HÀ NỘI — Foreign institutional investors traded nearly 3.9 million shares of tech firm FPT Corporation on Friday, according to the Vietnam Securities Depository (VSD). Foreign investment fund VOF Investment Limited of the asset management firm VinaCapital sold more than 3.55 million FPT shares to…

Read More
Home 

China joins global central bank gold rush as its foreign exchange reserves stabilise

China has joined a global central bank gold rush in the last two months by increasing its official gold reserves, even though the purchase remains modest compared to the volume of the mainland’s foreign exchange reserves, according to data released by the People’s Bank of China on Monday. The country’s gold reserves rose slightly to 59.94 million ounces at the end of January from 59.56 million ounces at the end of December 2018, marking a second straight month of increase. The latest gold purchase by the world’s second-largest economy came…

Read More
Vietnam 

No huge pressure on exchange in 2019: forecast – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Experts have forecast minimal pressure on exchange rates in 2019, with little chance of significant volatility. According to a recent report by SSI Securities Corporation, the continued devaluation of Chinese yuan could pressure the Vietnamese đồng. However, after overcoming the most difficult period – beginning of the US-China trade war, market members and management agencies are now prepared. The company predicted the volatility of the US dollar against Vietnamese đồng would be the same as 2018 with little chance for sudden…

Read More
Home 

It’s party time as the Year of the Pig is welcomed in at the Hong Kong stock exchange

The Year of the Pig got off to a boisterous start at the Hong Kong stock exchange, as colourful lion dancers chased away evil spirits and the God of Wealth – wearing a pig mask – hopped about on the stage in rhythm with cheerful claps and banging drums and cymbals. “Such loud claps show everyone will be lucky and prosperous,” an entertainer told the cheerful crowd in Cantonese. The festivities on Friday marked the first day of trading in Hong Kong’s market in the Chinese New Year. The previous…

Read More
Home 

Quadriga cryptocurrency exchange founder filed will 12 days before he died

Gerald Cotten, the Canadian behind cryptocurrency exchange Quadriga CX, filed a will 12 days before his death listing substantial assets, according to court documents. Cotten, whose sudden death left C$190 million (US$145 million) in bitcoin and other digital assets protected by his passwords unretrievable, signed his last will and testament on November 27, 2018. He left all his assets to his wife, Jennifer Robertson, and made her the executor to his estate, the documents show. Nova Scotia Supreme Court Justice Michael Wood granted Quadriga a 30-day stay on Tuesday in…

Read More
Home 

Plastic surgeon-led group to give South Korean cryptocurrency exchange Bithumb a makeover

South Korean cryptocurrency exchange Bithumb is set for a makeover, following a US$330 million investment by a plastic surgeon-led consortium. Byung Gun Kim, a South Korean surgeon and chief executive of Singapore-incorporated Blockchain Exchange Alliance (BXA), and five other investors from Hong Kong, Japan, the Middle East, the United Kingdom and the United States will acquire a 51 per cent stake in the exchange, which has been hit by security breaches in the past. The consortium still has to pay a final amount of US$250 million to selling shareholder BTC…

Read More
Home 

‘Father of Red Chips’ Francis Leung urges exchange officials to bolster trading turnover in smaller companies

The “Father of Red Chips” Francis Leung Pak-to has urged the local stock exchange to encourage retail investors to become more active in smaller companies, or face the risk of reputational damage to Hong Kong’s role as a fundraising hub. Leung, chairman of The Chamber of Hong Kong Listed Companies, said attracting more retail investors to trade in the local markets is a must when Hong Kong Exchanges and Clearing is developing its three-year strategy plan. “While Hong Kong has reclaimed the crown as the No 1 IPO market worldwide…

Read More
Home 

Hong Kong’s Exchange Fund reports 94.5pc decline in returns amid massive stock market losses

A global stock market slump shrank the city’s war chest for defending the local currency, causing it to lose HK$59 billion (US$7.5 billion) in equity investments last year and driving its 2018 rate of returns to its third lowest on record. The Exchange Fund’s overall returns last year fell 94.5 per cent to HK$13.9 billion on the back of a HK$20.7 billion loss alone in Hong Kong stock market investments. Returns from fixed income and other overseas properties and other longer term investment, offset the equities loss. The Exchange Fund…

Read More
Home 

Neither fat finger nor manipulation responsible for US$41 billion flash crash, says Singapore Exchange

What was shaping up to be a ho-hum market open in Singapore suddenly became the most dramatic session in years, with a haphazard spree of sell orders causing a US$41 billion crash in the city’s biggest stock on Thursday. Jardine Matheson Holdings, the flagship investment firm of a 186-year-old conglomerate that hadn’t posted a double-digit stock decline since April 2009, plunged 83 per cent in pre-market trading. While the drop reversed almost as quickly as it happened, some 167,500 shares changed hands at prices less than a quarter of the previous…

Read More
Home 

Hong Kong exchange head clarifies listing rules as IPO hopes dim for cryptocurrency giant Bitmain

Companies seeking to go public in Hong Kong should show consistency in their business models, according to Hong Kong Exchanges and Clearing (HKEX) chief executive Charles Li Xiaojia, who was speaking on the sidelines of the World Economic Forum in Davos on Wednesday. His comments were in response to media questions about the status of IPO applications from the world’s biggest makers of cryptocurrency mining rigs – Bitmain Technology, Canaan Creative, and Ebang International Holdings. The three Chinese companies filed to go public in Hong Kong last year but a…

Read More