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On Thursday, January 8, the Hong Kong Hang Seng Index opened down 156.17 points, or 0.59%, at 26,302.78; the Hang Seng Tech Index opened down 24.99 points, or 0.44%, at 5,713.53; the H-share Index opened down 39.12 points, or 0.43%, at 9,099.63; and the Red Chip Index opened down 5.62 points, or 0.14%, at 4,109.34.Hong Kong stocks opened lower, with the Hang Seng Index down 0.59% and the Tech Index down 0.44%. Newly listed stocks Tianshu Zhixin (09903.HK) rose approximately 31%, Jingfeng Medical (02675.HK) rose over 36%, and Zhipu (02513.HK) rose over 3%.Hang Seng Index futures opened down 0.53% at 26,334 points, a discount of 125 points.According to the Financial Times, US oil companies have warned that guarantees are required to invest in Venezuela.On January 8th, the main contract for container shipping (Europe route) fell by over 7% in early trading. A research report from Yide Futures on January 8th indicated that the price surge and subsequent pullback was due to profit-taking by some investors and shipping companies lowering their online freight rates for mid-to-late January, impacting market sentiment and causing a significant drop in the index. Specifically, CMA CGM lowered its 20GP and 40GP TEU rates by $135 and $250 respectively; Evergreen Marine lowered its rates by $100 and $200 to $2015/TEU and $3030/FEU respectively; and Maersk lowered its WK4 Shanghai-Gdansk high-cube freight rate to $2420. Market research indicates that spot bookings for mid-to-late January are strong, but current bookings for late January are lower than at the end of December. Shipping companies are further supporting prices primarily to encourage pre-shipment. If subsequent cargo volumes fall short of expectations, spot freight rates are expected to reach a turning point at the end of January. With expectations of concentrated shipments before the Spring Festival, the marginal support logic remains, therefore, the short-term outlook for the 02 contract is for continued high-level fluctuations. (This content and opinion are for reference only and do not constitute any investment advice.)

New FTX chief says bankrupt crypto exchange could restart

Skylar Shaw

Jan 20, 2023 11:43

According to Chief Executive Officer John Ray, the bankrupt cryptocurrency exchange FTX is considering ways to resurrect its operations. He made the announcement to the Wall Street Journal on Thursday.


According to Ray, who took over the company's leadership in November, a task group has been established to look at reviving FTX.com, the organization's primary international exchange.


The CEO also said in an interview with the Journal that he would research if resurrecting FTX's international exchange would generate more value for the company's clients than his team could get by simply selling the platform or liquidating its assets.


Following the news, FTT, the native token of FTX, increased by around 30%.


I'm relieved Mr. Ray is now only pledging to restart the exchange after months of blocking such attempts! Sam Bankman-Fried, the founder and former CEO of FTX, said in a tweet.


Bankman-Fried said, "I'm still waiting for him to eventually acknowledge FTX US is solvent and return clients' money.


An inquiry for comment from Reuters was not immediately answered by an attorney representing FTX.


Bankman-Fried is accused of robbing the exchange's users of billions of dollars to settle debts accrued by his cryptocurrency-focused hedge fund, Alameda Research. He's denied the allegations of fraud.


Customer money' future, however, is still unknown. In a note to creditors earlier this week, FTX said that since declaring bankruptcy in November, hackers had stolen nearly $415 million in cryptocurrency from its worldwide and American exchanges.


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