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CSPC Pharmaceutical Group (01093.HK): Net profit of RMB 3.88 billion, compared with an estimated RMB 4.87 billion, a year-on-year decrease of 10.3%.CSPC Pharmaceutical Group (01093.HK): Full-year revenue for 2025 is expected to be RMB 26.01 billion, with an estimated RMB 27.82 billion.March 25th - Overnight, the three major US stock indices fluctuated and adjusted, while the China Golden Dragon Index fell slightly. Hong Kong stocks continued yesterdays upward trend, with the Hang Seng Index rising over 300 points at one point, driven by strong performance from blue-chip stocks. The Hang Seng Index opened 216 points higher at 25280, filling all the gaps from Mondays decline and rising above its annual moving average. The market rallied strongly in the early session, rising as much as 326 points to a high of 25390, but selling pressure increased subsequently, and gains narrowed significantly near midday. By midday close, the Hang Seng Index was up slightly by 0.04% in the morning session, while the Hang Seng Tech Index closed down 0.48%, with a total turnover of HK$151.29 billion. On the sector front, optical communication, electronic components, and green electricity concept stocks led the gains, while film and television and agricultural stocks rebounded, and precious metals and non-alcoholic beverage stocks continued yesterdays strong performance. New consumption concept stocks fluctuated and retreated, while gaming and auto stocks fell sharply, oil and gas production and coal stocks corrected, and tech stocks were weak. In terms of individual stocks, Nongfu Spring (09633.HK) rose 8.7%, WH Group (00288.HK) rose 5.5%, and Techtronic Industries (00669.HK) rose more than 4%; Haidilao (06862.HK) fell more than 10%, and CNOOC (00883.HK) and Xiaomi Group (01810.HK) both fell more than 3%.On March 25th, Christopher Wang, a strategist at OCBC Bank in Singapore, stated that safe-haven demand for gold is resurfacing due to expectations of a de-escalation of the Middle East conflict and a weakening of the US dollar. This further demonstrates that gold has not lost its appeal as a safe-haven asset. It had previously been squeezed out of the market by the dollar, but that pressure is now easing. In the short term, gold prices may continue to be influenced by expectations of the Federal Reserves policy path, the dollars performance, and changes in the geopolitical situation. However, this rebound suggests that price declines may still find support unless real yields rise significantly.On March 25th, Tencent announced the official launch of the PC version of its AI-native application, Yuanbao, called "Yuanbao Pai." In the large-screen environment of the PC, users can participate in screen sharing while chatting and interacting with other users or Yuanbao in a separate window. The PC version of Yuanbao Pai also supports multi-device message synchronization, drag-and-drop file transfer, screenshots, and other functions, allowing users to complete information flow within the PC version.

UK Government: Cryptoassets Could Be Seized to Stop Crime

Cameron Murphy

Apr 28, 2022 09:42


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The British government suggested on Thursday that crypto assets might be confiscated to help battle economic crime, but the plan fell short of the drastic change demanded by legislators, who want an unified crime-fighting agency.


Scams involving banking and the internet have increased dramatically in the United Kingdom, especially after the COVID-19 outbreak.


In response to a parliamentary investigation into economic crime, the administration said that it would introduce laws to allow cryptoassets to be confiscated and recovered more rapidly as soon as legislative time permits.


"In particular, (we propose) the development of a civil forfeiture authority to limit the danger presented by people who cannot be punished but use their wealth to continue crime," the government told the Treasury Select Committee in parliament.


The panel proposed creating a single organization to combat economic crime to replace a "bewildering" multitude of institutions, but the administration insisted that its multi-agency system was the best.


"It allows us to discriminate between various sorts of criminality," the government stated, adding that public-sector fraud required a different reaction than schemes perpetrated by individuals or corporations.


In a statement, TSC Chair Mel Stride stated, "This might be a big squandered opportunity."


The government has already endorsed a suggestion that requires internet platforms like as Google and Facebook to take aggressive steps to combat fraudulent financial product advertising, but the law will take time to adopt and execute.


"Now is the time for online platforms to step up and take down these fake ads," Stride added.


Google has already pledged to only accept financial advertisements from organizations that are authorized by the Financial Conduct Authority, and Facebook owner Meta is expected to follow suit later this year.


The investigation advised that internet platforms be required to assist clients who have been scammed, a measure that the government is considering.


"We're working together with technology firms, law enforcement, and civil society partners to investigate all options for assisting victims of online fraud and mitigating the damage they've suffered," the government stated.

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