CoinEx announced it will cease operations on December 22, 2026, nine years after launching. The closure comes less than three months after a Wall Street Journal investigation highlighted the exchange's role as a hub for illicit Iranian cash transactions, amid broader challenges in the cryptocurrency market.
Alibaba priced a placement of 710 million new shares for HK$80 billion ($10.2 billion) to fund AI infrastructure and capabilities. The Hong Kong-listed stock plunged as much as 10% on Monday following the announcement, marking its steepest drop since April 2025.
Alibaba Group Holding completed a HK$80 billion ($10.2 billion) share placement in Hong Kong, marking the city's largest follow-on offering. The Chinese tech giant will use all proceeds to invest in AI infrastructure and capabilities, though shares plunged as much as 10% following the announcement.
Alibaba Group Holding completed a HK$80 billion ($10.2 billion) share placement in Hong Kong, marking the city's largest follow-on offering. The Chinese tech giant will use all proceeds to invest in AI infrastructure and capabilities, though shares plunged as much as 10% following the announcement.
Alibaba Group Holding completed a HK$80 billion ($10.2 billion) share placement in Hong Kong, marking the city's largest follow-on offering. The Chinese tech giant will use all proceeds to invest in AI infrastructure and capabilities, though shares plunged as much as 10% following the announcement.
Alibaba priced a placement of 710 million new shares for HK$80 billion ($10.2 billion) to fund AI infrastructure and capabilities. The Hong Kong-listed stock plunged as much as 10% on Monday following the announcement, marking its steepest drop since April 2025.
ByteDance and Tencent have each received approximately 10,000 Nvidia H200 accelerators in recent weeks, marking the first significant shipments after eight months of export license delays. Most licensed chips must remain in Hong Kong due to power infrastructure limitations.
Shanghai-based Kiwimoore, a chip designer specializing in networking technology for AI accelerators, has confidentially filed for a Hong Kong IPO targeting a $2 billion valuation with plans to list in the first half of 2027.
Britain's Financial Conduct Authority is working with major banks and market participants to establish standards for tokenized gold, aiming to digitize financial markets and reinforce London's position as the global bullion trading center amid competition from Hong Kong and Shanghai.
Binance-affiliated companies have filed a lawsuit in Hong Kong against RedotPay's co-founders, alleging they breached a partnership agreement by diverting more than 470,000 Binance Card users to RedotPay's own stablecoin payment card service. RedotPay has vowed to vigorously defend against the claims.
X Square Robot has confidentially filed for an initial public offering in Hong Kong, coinciding with the United States implementing a ban on imports of foreign-made robots. The timing highlights growing tensions in the robotics sector between the US and China.
Vast, a Chinese artificial intelligence startup specializing in 3D modeling and known for its Tripo AI tool, is exploring an initial public offering in Hong Kong. The company is working with Bank of America and China International Capital Corp as advisers on the potential share sale.
Hong Kong experienced a surge of romance scams involving cryptocurrency, with 25 cases reported in a single week resulting in $9 million in losses. Criminals gained victims' trust through false promises of love and investment returns before draining their accounts.
MetaX Integrated Circuits, a Shanghai-based GPU chip designer valued at $48 billion, has confidentially filed for a secondary listing in Hong Kong, targeting an IPO by end of 2026. The company completed its Shanghai IPO in December 2025 and has seen its share price surge 685% since then.
Insilico Medicine CEO Alex Zhavoronkov told Reuters that the company typically reaches a developmental drug candidate in 13 months, with a record of nine months, by combining AI with its research operations in China. Reuters reported that China has become a major hub for next-generation medicine development, aided by lower research costs and streamlined regulation.
Chinese artificial intelligence and technology firms are raising capital through Hong Kong listings and private funding rounds. Zhongji Innolight planned to raise at least $8 billion through a Hong Kong listing, while DeepSeek was reportedly nearing a proposed $7.4 billion private funding round backed by Tencent and CATL that had not been publicly confirmed.
Hong Kong's Securities and Futures Commission has authorized Baillie Gifford's Enhanced Yield Fund, the city's first fully native tokenized fund allowing professional investors to hold direct ownership of assets on a public blockchain. The approval comes as Asian financial centers accelerate adoption of tokenized investment products, with SBI Global Asset Management also launching a Japanese equity strategy token on Solana.
