Chinese tech investors are receiving stern warnings against using leverage and blindly chasing hot topics after the US-based AI hedge fund Situational Awareness collapsed, offloading billions in tech shares at a steep discount due to AI stock volatility and unmet collateral demands.
Italian fencer Filippo Macchi reflected on his team's World Championships foil victory in Hong Kong and his individual silver medal, recalling his 2020 Olympic loss to Cheung Ka-long. He expressed determination despite past disappointments, as Italy celebrated its dominance.
Hong Kong seeks to become a permanent host for fencing's elite Grand Prix circuit, with an inaugural event in May. The city replaced Shanghai due to declining standards, and FIE officials praised Hong Kong's World Championships staging, seeing it as a logical Asian option.
Hong Kong to launch revamped Huanggang Port border crossing in September under a new joint inspection model, with drills starting next month following legislative approval for a co-location arrangement with Shenzhen.
Hong Kong Exchanges and Clearing (HKEX) announced immediate reductions in market-capitalisation requirements for start-ups, international firms, and WVR companies, aiming to attract more innovative companies globally to list in Hong Kong.
The number of People’s Liberation Army (PLA) fighter jets detected near Taiwan in the first half of this year more than halved compared to last year, marking a three-year low in operational tempo. No large-scale drills were staged, a first since 2022.
Hong Kong's Chief Justice Andrew Cheung Kui-nung will issue a serious reprimand to High Court judge Wilson Chan Ka-shun for extensive plagiarism, requiring him to undergo targeted training. This marks at least his seventh instance of copying, leading to previous adjustments in his judicial duties.
Hong Kong's July rainfall has already surpassed typical levels by 23%, with a meteorologist warning of more extreme downpours due to global warming. The Observatory expects further rainstorms this weekend as a tropical cyclone approaches, following weeks of heavy rain and numerous warnings.
Booksellers at a seven-day event, likely the Hong Kong Book Fair, reported dampened business due to shifting consumer habits and unstable weather. Sally Ng Wai-shan, an editor at Match Media, estimated overall sales could drop by 30 to 40 per cent, noting significantly reduced foot traffic compared to last year's already subdued levels. An SCMP reporter observed fewer visitors carrying purchases, highlighting a stark contrast to past bustling fairs.
Hong Kong's first-time lawmakers in the eighth Legislative Council have submitted fewer questions to the government compared to veterans but recorded higher attendance. Political observers suggest this reflects a balance between respecting the executive-led system and providing checks.
The Hong Kong Stock Exchange (HKEX) is expected to announce confidential filing and lower market capitalization requirements for listings by the end of this month, following months of consultations with market participants.
Hong Kong police arrested a 26-year-old investment manager at Chief Securities for allegedly making unauthorized investments, causing an estimated HK$150 million (US$19.1 million) loss. The suspect, who worked as a trader for six months, was arrested Monday after audits revealed suspicious activity between January 9 and Monday.
The European Commission has fined e-commerce firm AliExpress for failing to diligently assess and mitigate systemic risks related to illegal, unsafe, and counterfeit products on its platform, violating the Digital Services Act. AliExpress, a subsidiary of Alibaba, has expressed surprise and disagreement with the "disproportionate" fine, vowing to appeal the decision.
SenseTime CEO Xu Li predicts a significant shift in AI commercialization from a 'token economy' to a 'task economy' as token prices decline. He states that future value will lie in users paying for complex, completed tasks rather than raw computing usage, expanding the market tenfold beyond programmers to the masses.
The Hong Kong Stock Exchange (HKEX) is in early discussions to extend its trading hours, potentially to 5pm or 8pm, according to two sources. The move aims to enhance market competitiveness, though scrapping the lunch break is not being considered.
An independent committee investigating the deadly Wang Fuk Court fire in Hong Kong, which killed 168 and displaced nearly 5,000, will delay its final report until late October due to the vast amount of evidence to review.
An off-duty firefighter was arrested in Hong Kong after surrendering to police following a viral video showing him assaulting a young couple in a shopping centre. The 48-year-old man allegedly shoved and shouted at the couple, claiming they bumped into him.
Hong Kong's OSC charity campaign received 102 funding applications by June 10. Organizers noted a significant shift towards deeper, systemic interventions rather than "quick-fix" solutions, with applicants focusing on poverty, health, and inclusivity.
Hong Kong's privacy watchdog has ordered the removal of a viral dashcam video showing a heated argument between a driver and passenger, identified as singer David Lui Fong. The video, which escalated into profanity and insults over a GPS map dispute, was deemed personal data under the Personal Data (Privacy) Ordinance, prohibiting uploads without consent.
Hong Kong's privacy watchdog has ordered the removal of a viral dashcam video showing a heated argument between a ride-hailing driver and singer David Lui Fong. The footage, which escalated from a GPS dispute to profanity-laced insults, was deemed personal data, and drivers must obtain consent before uploading passenger footage.
MiniMax CEO Yan will forgo his salary until the company achieves AGI, pledging 4% of his shares to employees and 1% to open-source communities. This follows an 80% stock plunge after a lock-up period expired.
Cathay Pacific confirmed the tail of an Airbus A330-300 struck the runway during a go-around at Hong Kong International Airport last Friday. The aircraft landed safely with no injuries reported, and the aviation regulator has ordered a report.
A suspected fuel leak from a Boeing 747 cargo aircraft at Hong Kong airport on Thursday morning triggered an emergency response from police and firefighters. The leak was confirmed to be from the aircraft's left wing while it was parked at the Cathay Pacific Cargo Terminal.
Super Typhoon Bavi has led to the cancellation of over 40 outbound flights from Hong Kong to Taiwan, mainland China, and Japan, with some carriers waiving change fees for affected passengers.
