Headlines 

This Stock’s 9,500% Rally Created a Town of Millionaires

At most big companies, it’s pretty clear who the millionaires are: top executives, rainmakers, science whizzes with PhDs. But at China’s Bloomberg. The previously unreported value of their holdings has ballooned as Sunny Optical’s shares surged more than 9,500 percent since June 2008, trouncing even Netflix Inc.’s 7,500 percent gain. Founded more than three decades ago by a former appliance-factory worker with a high school education and less than $10,000 of borrowed cash, Sunny Optical is now a $22 billion behemoth that supplies lenses to the likes of Samsung and…

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Bitcoin Falls on Fears of Regulatory Trouble for Big Crypto Exchange

Japan’s FSA warns Binance for operating without a license Biggest cryptocurrency fell 4.5% after news first reported told Bloomberg in January that it was working to acquire a license in Japan, but the warning could complicate those efforts. Zhao said on Thursday that the exchange is “engaged in constructive dialogue” with the FSA. While Binance was founded in Hong Kong last year, Zhao has said that his company does not currently have a legal headquarters anywhere in the world.

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U.S. Regulators Subpoena Crypto Exchange Bitfinex, Tether

U.S. regulators are scrutinizing one of the world’s largest cryptocurrency exchanges as questions mount over a digital token linked to its backers. The U.S. Commodity Futures Trading Commission sent subpoenas on Dec. 6 to virtual-currency venue Bitfinex and Tether, a company that issues a widely traded coin and claims it’s pegged to the dollar, according to a person familiar with the matter, who asked not to be identified discussing private information. The firms share the same chief executive officer. Tether’s coins have become a popular substitute for dollars on cryptocurrency exchanges…

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Qatar Airways Buys Cathay Pacific Stake for $662 Million

Cathay Pacific Airways Ltd., a deal that would help it gain a foothold in the world’s second-biggest aviation market. The Middle Eastern carrier will buy 9.6 percent of Cathay from Hong Kong-based Kingboard Chemical Holdings Ltd. and related companies for HK$5.16 billion ($662 million), according to a filing to the city’s stock exchange Monday. Chief Executive Officer Akbar Al Baker, confirming the deal, said the investment "further supports Qatar Airways investment strategy.” Shares of Cathay fell as much as 4.9 percent to HK$12.56 on Monday, the biggest intraday drop in…

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Razer CEO to Become a Billionaire With Li Ka-shing Backing

After raising funds from Asia’s biggest investors, including Hong Kong tycoon Razer Inc. is turning to the market for an initial public offering that will make its co-founder Bloomberg Billionaires Index. Razer’s plan to list shares comes amid robust growth in the global gaming market, which is expected to reach $160 billion by 2021, a 52 percent jump from last year, according to data from Euromonitor. The company said in its

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Odds and Ends 

Use The Internet To See If Homestar Runner Is Censored, And 4 Other Tips For A Perfect Day In Hong Kong

If youve only got 24 hours in Hong Kong, here are the things you absolutely have to do! 1. Use the Chinese internet and see if Homestar Runner is censored: Any good traveler knows about Chinese internet censorship, but if you went and visited Homestarrunner.com in Hong Kong, would the government actually try and stop you? Who knows, but while youre there, maybe just go ahead and check in on Homestar and the gang! That is, assuming Xi Jinping doesnt have it out for them. 2. Trip over an extension…

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Hong Kong vigil for Liu Xiaobo sends powerful message to Beijing

March is only large-scale commemoration for dissident in China, with Hong Kong maintaining freedoms non-existent elsewhere Thousands of mourners marched through the heart of Hong Kong in a candlelight vigil for Chinese Nobel peace prize laureate Liu Xiaobo, sending a powerful message to Beijing as it tries to erase his legacy. highly scripted ceremony tightly controlled by the Chinese government. The Hong Kong rally is the only large-scale commemoration for Liu on Chinese soil. The semi-autonomous city maintains a wide range of freedoms that are non-existent in mainland China, and…

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Odds and Ends 

Tencents online publishing arm files for IPO in Hong Kong

Hong Kong has secured its second high-profile tech IPO inside a week. Following on from gaming firm Razer, which filed its prospectus on Friday, Tencents online publishing service has followed suit with plans for a Hong Kong IPO. China Literature is akin to Amazons Kindle service, with 8.4 million pieces of content from more than five million writers. It counts 175.3 million monthly users across all services, of which more than 90 percent are on mobile. The service is beingspun out of Tencent, Asias highest valued tech firm,which currently owns…

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Security lockdown in Hong Kong as Xi Jinping marks anniversary of handover

About 11,000 officers will be deployed during Chinese presidents visit as areas of the city are made off limits to the public Swaths of Hong Kong have been placed under an unprecedented security lockdown as Chinese president Xi Jinping arrives in the city to mark 20 years since the UK handed the city back to China. Mass protests are expected to greet Xi on the 1 July anniversary, an annual tradition amplified by his presence in the city. Prominent Hong Kong democracy activists, including Joshua Wong and lawmaker Nathan Law,…

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Hong Kong: the 20th anniversary of the handover Q&A

All you need to know about the the 20th anniversary of Britain handing Hong Kong to China What is happening? Hong Kong is marking 20 years since the territory was handed from Britain to China, bringing an end to more than 150 years of colonial rule. When the Chinese flag was raised over the city on 1 July, 1997, Hong Kong was not entirely integrated with the rest of mainland China. It maintained many institutions established during colonial rule an independent judiciary, freedom of speech and a separate legislature under…

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Odds and Ends 

Hong Kongs Qupital raises $2M led by Alibaba to finance invoice loans for SMES

the $130 million AlibabaEntrepreneurs Fund which launched in 2015. Other investors that took part includeDRL Capital and Aria Group. Founded by mid-20-year-oldsAndy Chan (26) and Winston Wong (25) who met playing basketball, the startup wants to freesmall companies on tight budgets from the restraints of unpaid invoices. Thats to say that a large chunk of an SMEs working cash flow is locked up in invoices that maytake up to 90 days to actually pay out.Qupital tackles that issue by companiesto take a loan to cover 80-95 percent of the value…

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