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Anxious investors watch the stock market coverage at a bank after the crash on October 28, 1997. Photo: SCMP

Markets

Where does Hang Seng Index’s 13% slump rank among other major crashes?

The plunge pushed Hong Kong’s benchmark index into bear territory, as it has lost more than 20 per cent from a recent peak.

Hong Kong lawmakers urge HKEX to speed up market reforms, sharpen edge

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Central Huijin, a unit of China’s US$1.2 trillion SWF, buys ETFs to boost stocks

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China Business

BYD Electronic, Lenovo bear brunt of sell-off as Trump tariffs slam exporters

A 10 per cent tariff on exports could eat into China’s economic growth, putting Beijing’s 4.5 per cent target at risk, Morgan Stanley says.

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Stocks in Hong Kong are in for their worst day since October 2008. Photo: Jelly Tse
Stocks in Hong Kong are in for their worst day since October 2008. Photo: Jelly Tse

China Business

Asia-Pacific stocks plunge as traders rush for the exit in global tariff war

Eleven major Asia-Pacific benchmarks fall to their 52-week low; the Hang Seng China Enterprises Index enters a bear market.

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Big Tech

Microsoft joint venture Wicresoft halts projects in China, lays off workers

Wicresoft will cease work on Microsoft projects in China owing to ‘geopolitical shifts and changes in the global business environment’.

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Blockchain

Hong Kong remains upbeat on Web3 amid crypto market turmoil from US tariffs

Officials again touted the strength of the local Web3 industry, while Binance founder CZ avoided the event despite recent activity in the city.

Financial Secretary Paul Chan speaks at the Hong Kong Web3 Festival on April 7, touting the city’s commitment to the blockchain industry amid recent turmoil. Photo: Handout
Financial Secretary Paul Chan speaks at the Hong Kong Web3 Festival on April 7, touting the city’s commitment to the blockchain industry amid recent turmoil. Photo: Handout

Arts

Korean golden seal smashes presale estimate, sells for US$13.9 million

Record-setting price paid for seal given by China’s Jin dynasty to a nobleman of Korea’s Goguryeo kingdom in China Guardian’s Hong Kong sale.

Blockchain

Bitcoin, ether rout extends as tariff war pain batters cryptocurrency assets

Cryptocurrency investors appear to be in full ‘sell mode’, according BTC Markets analyst Charlie Sherry.

Banking & Finance

Goldman trims 2025 targets for Chinese stocks as Trump tariffs slam markets

Goldman trims its 12-month upside targets for the MSCI China Index and CSI 300 Index, after a bullish upgrade in mid-February.

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Electronic boards show Shanghai stock data and other market indices on April 3, 2025. Photo: Reuters

Commodities

Oil plunges as trade, oversupply risks increase and Saudis slash prices

Saudi Aramco lowered Arab Light crude to its biggest buyers in Asia more than expected for May, and offered smaller cuts for the US and Europe.

Aramco cuts prices for buyers in Asia by more than expected, and offers smaller cuts in the US and Europe. Photo: Reuters
Aramco cuts prices for buyers in Asia by more than expected, and offers smaller cuts in the US and Europe. Photo: Reuters

Business

Yen, Swiss franc rise on flight to safety as Trump’s tariffs roil markets

The dollar fell 0.63 per cent against the yen to 145.92, after tumbling more than 1 per cent earlier in the session.

Business

Residential landlords get support from workers at hedge funds, crypto: Savills

Savills says Hong Kong residential landlords receive support from hedge funders and crypto workers as traditional sources remain sluggish.

Business

Hong Kong’s office segment to see faster turnaround than retail: Morgan Stanley

‘We think the Hong Kong office market is not structurally impaired,’ Morgan Stanley’s Praveen Choudhary says.

Morgan Stanley expects improved office space demand in Central and at super grade A commercial buildings in Hong Kong. Photo: Shutterstock

Banking & Finance

Exclusive | Goldman Sachs brings art advisory service to Asia’s ultra-rich

Bank’s private-wealth division helps clients navigate ‘high degree of complexity’ in the world’s second-largest art market.

Goldman Sachs Private Wealth Management’s head of art advisory Monica Heslington, pictured on March 27, 2025. Photo: Jonathan Wong
Goldman Sachs Private Wealth Management’s head of art advisory Monica Heslington, pictured on March 27, 2025. Photo: Jonathan Wong

Business

Over 70% of Hong Kong executives expect increase in cybercrime in 2025: Kroll

Kroll also says 18 per cent of respondents believe their organisation’s compliance programme is very effective’.

United States & Canada

Market panic mounts as world scrambles to temper Trump tariffs

US oil prices dropped below US$60 a barrel for the first time since April 2021, even with countries seeking compromise on tariffs.

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China EVs

Self navigating to the top: why China leads the global autonomous-driving race

After stamping their authority on EV technology, Chinese firms make strides in adding self-driving features.

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Illustration by Lau Ka-kuen
Illustration by Lau Ka-kuen

Banking & Finance

In SAFE hands: China’s secret plan for US$1 trillion reserves fund in Hong Kong

Cheng Hao, the man involved in the rescue of China’s 2015 market crash, runs what is the world’s third largest wealth fund in Hong Kong.

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Banking & Finance

China’s 4 golden flowers: how Beijing invests its US$3.2 trillion reserves

The State Administration of Foreign Exchange entrusts managers in four ‘overseas offices’ to diversify its reserves and maximise returns.

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Business

Nicholas Tse, Stanley Ho’s family face falling property value amid market slump

Macau tycoon Stanley Ho’s family is selling a site in Tsim Sha Tsui, while actor Nicholas Tse’s shop in Central rented out at a big discount.

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Mainland tourists are seen in Tsim Sha Tsui. Hong Kong’s retail sales fell 7.3 per cent last year. Photo: Yik Yeung-man
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OPINION
Zhou Xin

My Take | Labubu proves Hong Kong IP and Chinese manufacturing are a recipe for success

Zhou Xin
Anthony Rowley

Macroscope | World is ready to cut US dollar down to size – but not too quickly

Anthony Rowley
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James David Spellman

Opinion | Trump’s executive orders will be no match for markets in grip of fear

James David Spellman
Bonnie Zuo

Opinion | China has what it takes to lead the global green steel revolution

Bonnie Zuo
Winston Mok

Opinion | China’s true talent in AI lies in making it safe to use

Winston Mok
Nicholas Spiro

The View | Why the future looks so promising for luxury property in Asia

Nicholas Spiro
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MULTIMEDIA
Video

How Alibaba.com is betting on AI to transform e-commerce

How Alibaba.com is betting on AI to transform e-commerce
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Video

The small business concerns behind China’s ‘two sessions’

China’s ‘two sessions’: small businesses voice concerns as they face economic headwinds
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Video

Hong Kong-listed SenseTime to spin off healthcare platform

SenseTime plans to spin off healthcare platform in effort to capitalise on advanced LLMs
01:32
Video

How Sands China is driving Macau 3.0

How Sands China is driving ‘Macau 3.0’ with NBA Legends, better infrastructure
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