Latest: Fintech News
Online and offline retailers are stuck with piles of unsold stock as cautious consumers stay away from the commercial hub's glitzy shopping districts
Chinese tech shares in Hong Kong rose after President Xi Jinping chaired a meeting that backed support for fintech firms. Alibaba jumped 6.4%, and Chinese automakers also shone.
Toshiba shares rose 5.3% in Tokyo early on Thursday, outperforming a 0.8% rise in the benchmark Nikkei average
China tech firms listed in Hong Kong rose as much as 2% on state support for the fintech industry before shedding gains
Tether briefly dropped to $0.993 although it quickly regained parity with the dollar. But investors continue to pull money out of stablecoins and several have lost their pegs to underlying assets.
Alex Clavel will take charge of a gamut of assets including chip designer Arm, which SoftBank hopes to list, and stakes in satellite firm OneWeb and telco T-Mobile US Inc
The Bank for International Settlements said recent turmoil in the cryptocurrency universe is a reminder of crypto's financial vulnerabilities and "deeper structural inadequacies".
Bilibili's market capitalisation has shrunk from its peak of about $54 billion last February to just over $10 billion this month
Beijing's harsh regulatory crackdown means Ant now stresses its autonomy, to the point that Alibaba might even compete with its one-time sister company
The move by the Tencent-owned site is in reaction to a government edict that bans speculation in NFTs and other digital assets, the Hong Kong paper said
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AF Fintech Insights
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Southeast AsiaCan Singapore Oust Hong Kong To Be Asia’s Fintech Leader? -
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With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors
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PaymentsCan China Take Place of SWIFT System? Analysts Say ‘No’There is no global payment system that is strong enough to act as an alternative to SWIFT and enable Russia to evade sanctions
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MarketsChina Becomes World’s Second-Biggest Bitcoin Mining HubThe Bitcoin mining ban in China last year had collapsed its crypto markets. Despite that, the country has reemerged as a major bitcoin mining hub, according to research by the UK's University of Cambridge.
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Market InsightsHere’s How China Can Win the Tech War With USAThe Chinese government is doubling down on incentives for innovation, which it believes to be the cornerstone of its future growth and international position.
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Fintech InsightsAsia Becomes the Epicentre of Global NFTsAsia is the frontrunner in the NFTs craze with Central and Southeast Asia accounting for 35% of the $22 billion in global trade
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