The Hong Kong Securities and Futures Commission (SFC) on Thursday announced that it reprimanded and fined a subsidiary of financial conglomerate Everbright in the amount of HK$3.8 million ($484,083) over breaches of money laundering and terrorism financing regulatory rules.
China formally released the STAR Chip Index on Monday to track the performances of leading firms in such fields as semiconductor materials and equipment, chip design, and chip packaging and testing, aiming to attract more capital investment into the increasingly crucial industry amid broadening US crackdown campaign.
Skycam Defense Technology Co, a high-tech firm that makes public safety and defense systems, began trading on the Shanghai NASDAQ-style STAR Market on Wednesday, becoming the first company to move from the Beijing Stock Exchange (BSE).
Economists and business leaders attending the World Economic Forum (WEF)’s annual meeting on Monday expressed confidence in the long-term outlook for economic growth in China, pinning their hope on the world’s second-largest economy to lead a global economic recovery from the COVID-19 pandemic.
US stocks fell on Friday to close out a tumultuous week, as the US raised interest rate amid a major monetary policy shift. The US may find its interest hike less effective in curbing inflation, and the spillover risks of its monetary policy on international financial market and global economy should be closely watched, experts warned.