Hong Kong's SFC issued a warning on the BitForex exchange amid suspected fraud following the exchange's $57 million withdrawal in February.
Hong Kong
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Latest News
India has taken the spot of Hong Kong as the world's seventh-largest stock market. India has taken the spot of Hong Kong as the world's seventh-largest stock market, marking a significant shift in global financial standings.
China's stock market slipped on Friday, as the country reported the economic growth is in accordance with analysts prediction. While investors expected a stronger result.
Oil price, Asian stocks and bond yields were trading marginally higher on Friday ending the week on positive mode. Japanese currency Yen continued to rise against US dollar and this also further aided Asian stocks.
Tracking sell-off on Wall Street, Asian markets turned weaker. Renewed growth concerns and effectiveness of central bank policy have worsened the investor sentiment.
Goldman Sachs-backed consumer finance startup CompareAsiaGroup got its new CEO Sam Allen. In 2015, CompareAsiaGroup closed a Series A round of funding led by Goldman Sachs and is planning to go for a Series B round funding soon.
China's eighth largest investment bank, Guosen Securities, has clarified on behalf of its unit that there's no default on its offshore debt. The trustee of the offshore bond Bank of New York Mellon (BNY) had earlier warned bondholders of a possible default.
Stocks in the Asian market faced a steep decline for the second day following the drop in oil to less than $40 per barrel. In addition to the oil price drop, investors were curious about the US financial policy.
Global stocks rose further as increased investor confidence propelled buying support. Investor confidence has been strengthened after the announcement of European Central Bank's stimulus plans and encouraging US economic data.
Encouraging gains on Wall Street were propelling up stocks in Asia and Australia. Barring Hang Kong and Japan, all the major market benchmark indices in Asia and Australia, rose.
