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Japans Topix index rose 1.0% to 3,854.18 points.February 25 – Hong Kong Financial Secretary Paul Chan Mo-po stated that the Hong Kong Tourism Board (HKTB) will strengthen its promotion efforts in potential source markets, including mainland cities outside Guangdong Province, as well as emerging markets such as ASEAN and the Middle East, to attract more overnight visitors. The HKTB will also actively promote more meetings, exhibitions, and incentive travel events of various types held in Hong Kong. Furthermore, the HKTB will further attract more international cruise lines to include Hong Kong in their itineraries. In addition, the Hong Kong SAR Government will continue to deepen tourism cooperation with the Greater Bay Area and other provinces and cities in mainland China, and will explore the launch of multi-stop itineraries with airlines to attract more overseas tourists to visit Hong Kong and the mainland.February 25 – On February 25, Hong Kong Financial Secretary Paul Chan Mo-po delivered the governments budget for the 2026-2027 fiscal year to the Legislative Council. Chan stated that Hong Kong International Airport is the worlds busiest cargo airport, with cargo volume exceeding five million metric tons last year. Passenger volume reached 61 million, an increase of nearly 15% year-on-year. Hong Kong will strive to conclude new civil aviation agreements and expand air rights with regions with development potential, such as the Middle East, Central Asia, Africa, and South America, to further enhance Hong Kongs competitiveness as an international aviation hub. Furthermore, the expanded Terminal 2 departure facilities at Hong Kong International Airport will open in May, significantly increasing the airports overall capacity.Virginia Governor Spanberg: The American people are paying the price for President Trumps trade policies.February 25 - Hong Kong Financial Secretary Paul Chan Mo-po stated that following the signing of a cooperation agreement with the Shanghai Gold Exchange earlier this year and the establishment of the Hong Kong Gold Central Clearing System, we will: study providing tax incentives for qualified institutions conducting gold trading and settlement in Hong Kong; assist the industry in establishing an industry association to pool resources, strengthen promotion, and expand connections with the industry at home and abroad; and assist the industry in understanding the latest developments in the gold market and mastering relevant skills, and establish a training framework.

The Bogged-down Crypto Market

Cory Russell

Oct 08, 2022 14:09

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The market remained inside the range that has been in place since the second half of September once again as a result of the 50-day moving average in BTCUSD acting as local resistance.


At the time of writing, Bitcoin was trading slightly under $20K, down 1.9% over the previous day.


Investors in the cryptocurrency market have been deterred from purchasing as a result of a rapid rise in stock markets that has slowed down in recent days due to uncertainty. The market's capitalization dropped 1.6% over night to $956.

News context

We've lately seen some stability in the bitcoin market, according to Sam Bankman-Fried, CEO of the cryptocurrency exchange FTX. But when the Fed's monetary policy becomes more restrictive, it has an impact on all assets, leading cryptocurrencies as well as fiat money and stock indices to change.


Hoarders have amassed a record 13.7 million coins, or 71.5% of the whole BTC supply, according to Ark Invest, purchasing the cryptocurrency that has been falling since the spring. Additionally, vendors have almost reached the limits of their ability to sell.


Due to a higher dollar last week, the connection between bitcoin and gold hit its highest point in more than a year, according to Kaiko. Despite a Fed rate rise, gold and bitcoin failed to exert their role as haven assets.


The huge centralized and regulated Binance and Coinbase will be the main targets of the EU's ban on Russian cryptocurrency wallets, which may increase demand in smaller exchanges with laxer KYC but generally increase the danger of more active cryptocurrency sales.

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