Shares in Hong Kong plummet as China initiates influential economic meeting

Investors are eager for more comprehensive policy actions following indications of wider stimulus from a recent Politburo gathering

The Hang Seng Index saw a decline of 0.8 per cent, settling at 20,155.05 at the end of trading, and the Hang Seng Tech Index experienced a steeper drop of 1.3 per cent. Over in the mainland, the CSI 300 index slightly decreased by 0.2 per cent, while the Shanghai Composite Index showed a slight increase of 0.3 per cent.

"For a prolonged upturn in the Hong Kong stock market, we're looking for strong initiatives, successful implementation and clear indications of China escaping from the deflation-debt cycle," stated Edith Qian, a research analyst at China Galaxy Securities International based in Hong Kong. "The forthcoming central economic work conference will probably boost market mood in the short term. We also anticipate the rollout of more tangible steps to deliver on the policy guidelines in the upcoming months."

The Fosun Tourism Group saw an unprecedented 80% increase in their stock, rising to HK$7.21, as a result of announcing a privatization strategy. This strategy offers a price that is 95% higher than the value of their stock at the most recent closing.

TikTok incentivizes users to shop and bring in friends as potential US prohibition approaches

TikTok has been striving to increase the duration users spend on the app and encourage shopping behaviors in anticipation of its potential removal from US app stores on January 19.

Recently, TikTok users have started to notice a novel "limited time offer" that rewards them with TikTok Shop credits. These promotional offers are being displayed on the "For You" page of TikTok users, which is the primary feed they encounter upon launching the app. A significant court decision on Friday sustained a law that might lead to a nationwide prohibition of TikTok as early as January.

Individuals have the potential to make $50 by encouraging newcomers to register with TikTok, and they can gain an extra $350 in rewards if they recruit more people. They also have the opportunity to earn money by logging into the application daily for one week, and by viewing 10 items on the TikTok Shop five times each week. Users who take advantage of the offer can also obtain an extra $80 in shopping vouchers to be used after buying something on the TikTok Shop.

Despite regulatory challenges, ByteDance's expansion plans have hardly been affected. The company intended to escalate the merchandise sales on TikTok Shop by ten times, aiming for a total of US$17.5 billion, as reported by Bloomberg in January. ByteDance's aspirations have only grown since then. TikTok Shop saw its US sales skyrocket to over US$100 million during the Black Friday sale. Furthermore, the Shop was launched in Spain on Tuesday, marking its first step towards a broader European expansion.

Chinese shares are once again in demand as Xi Jinping indicates a significant stimulus during a Politburo gathering. The firm policy direction impacts Chinese investments, causing a surge in both shares and bonds as the yuan gains strength.

China's indication towards adopting comprehensive stimulus policies has infused a wave of positivity into the country's $10 trillion stock market, which had previously demonstrated signs of slowing down in its recovery.

"Policymakers have made a significant shift towards rectifying the economic trajectory and bolstering the capital market," stated Fang Yi, a strategist at Guotai Junan Securities in Shanghai. "The recent Politburo meeting marked a historic milestone in establishing the direction for economic policies. This has sparked further speculation about future policies, and it's anticipated to restore investors' faith in the policy forecast."

The language used in the recent Politburo meeting is the most forceful it's been in years. This comes at a time when the world's second-largest economy, China, is experiencing a lingering deflationary trend and rising geopolitical tensions following the re-election of Donald Trump. China has committed to implementing "unconventional" measures to counter the economic cycle. Additionally, the country announced a change in its monetary policies, from being "cautious" to "somewhat relaxed" – a phrase not heard in high-level meetings since the global financial crisis in 2010.

Following the unveiling of OpenAI's Sora, Adobe appears to be lagging in rolling out its AI video feature. Despite declaring the launch of a web-based video creation utility two months ago, Adobe's product is still in a restricted testing phase, while OpenAI just recently made Sora accessible to the public.

In order to cater to a plethora of needs, and to guarantee the safety of our models, Adobe is offering restricted access to the beta version while placing a premium on user feedback. As stated on their website, they are encouraging users to sign up for the waiting list.

The corporation, set to disclose its quarterly profits on Wednesday, unveiled the new addition to its Firefly AI features portfolio at the yearly user conference in the beginning of October. The firm mentioned that the tool was already being introduced through a restricted public beta. Adobe has also introduced an innovative tool within Premiere, its video editing application, enabling users to lengthen video clips with the assistance of generative AI.

A representative from Adobe declared on Tuesday that the firm plans to widen its accessibility in the forthcoming weeks and months. "Adobe Firefly stands as the sole video model on the market that's commercially secure, and since its launch merely six weeks ago, we've witnessed a robust reaction from our customers."

Chinese shares are once again in focus as Xi Jinping indicates significant stimulus during the Politburo gathering. The firm policy direction is reverberating across Chinese investments, leading to a surge in both shares and bonds, as well as an enhancement of the yuan's strength.

China's indication towards a complete transition to stimulus policies has infused a sense of positivity into the country's US$10 trillion stock market, which had been showing signs of a slowing recovery.

"Policymakers have made a significant shift in their approach, working to redirect the economy and bolster the capital market," commented Fang Yi, a strategist with Guotai Junan Securities in Shanghai. "The latest Politburo meeting marked a monumental turning point in establishing the direction for economic policies. This has sparked further speculation about future policies and is anticipated to restore investor trust in the policy forecast."

The language used in the recent Politburo meeting was the most assertive in years, given the ongoing deflationary trend impacting the globe's second biggest economy and the heightened geopolitical strains following Donald Trump's re-election. China, while promising "unconventional" corrective actions, also indicated a change in its monetary policies from "careful" to "somewhat relaxed" – a phrase that hasn't been used in high-level meetings since the global financial crisis recovery period in 2010.

The expansion of Wealth Management Connect has failed to impress investors from mainland China. Analysts believe that the strict marketing regulations and eligibility criteria will continue to discourage affluent Chinese individuals from participating in the scheme.

The recent inclusion of 14 securities companies to the plan, which enables investors from Hong Kong and the mainland to purchase wealth-management products internationally, had minimal impact on the overall investments of the programme.

By the close of Sunday, a mere 6.28 percent of the overall 150 billion yuan (equivalent to US$21 billion) limit in the southbound Wealth Management Connect program had been utilized. This is a marginal rise of 0.08 percent in comparison to the figures prior to the inclusion of new companies. The usage in the northbound direction was significantly less.

Experts in the field highlight a variety of problems, from limiting advertising strategies to strict investor qualification rules, that they believe will persist in discouraging affluent Chinese individuals from the program – despite their eagerness to establish bank accounts in Hong Kong to investigate various investment opportunities like insurance and timed deposits.

"The addition of more brokers is irrelevant," stated Eugenie Shen, who leads the asset management group at the Asia Securities Industry and Financial Markets Association (ASIFMA).

Following the release of OpenAI's Sora, Adobe seems to be lagging in its AI video deployment. Despite announcing a browser-based video creation tool two months ago, Adobe's product is still under restricted testing, while OpenAI's Sora has already had its public launch this week.

"In order to optimally cater to a broad range of applications and to prioritize model security, we are initiating limited access to the beta version with an emphasis on collecting user reviews," states Adobe on their website, encouraging users to "sign up for the wait-list".

The firm, set to publish its quarterly financial results on Wednesday, revealed the product as a member of its Firefly AI features suite at its yearly user conference in the earlier part of October. It mentioned then that the tool was already being introduced on a restricted public beta basis. Additionally, Adobe has debuted a feature in Premiere, its video-editing application, that allows users to lengthen video clips with the help of generative AI.

A representative from Adobe announced on Tuesday that the corporation plans to increase its accessibility in the forthcoming weeks and months. They stated, "Adobe Firefly stands as the sole commercially secure video model on the market and, following its introduction merely six weeks ago, we've witnessed robust customer engagement."

TikTok rewards users for shopping and referring friends amidst potential US prohibition

TikTok has been implementing strategies to increase user engagement and promote shopping behaviors in anticipation of a potential removal from US app stores on January 19.

Recently, TikTok users started noticing a fresh "limited time offer" that rewards them with TikTok Shop credits. These promotional offers are being displayed on the users' "For You" page, which is the primary feed visible when the app is launched. A significant court decision on Friday confirmed a law that might result in a nationwide TikTok ban as early as January.

Individuals have the opportunity to make $50 by getting newcomers to register for TikTok, and they can gain an extra $350 in bonuses if they manage to attract more people. Daily logins to the app for a week and browsing through 10 different items on TikTok Shop five times a week can also fetch them some earnings. Moreover, by taking advantage of the offer, they can collect an extra $80 in vouchers to use after buying something from the TikTok Shop.

Regulations have barely hindered ByteDance's expansion plans. The company intended to boost the amount of products sold on the TikTok Shop app by a factor of ten, reaching $17.5 billion, as reported by Bloomberg in January. ByteDance's aspirations have only grown from there. TikTok Shop saw its U.S. sales triple to over $100 million during Black Friday. The Shop also launched in Spain on Tuesday, marking the first step in a broader European release.

Wealth Management Connect expansion fails to captivate Mainland Chinese investors

Analysts suggest that the strict promotional regulations and severe qualification criteria will persist in discouraging affluent Chinese individuals from participating in the program.

The inclusion of 14 securities companies to the plan which enables investors in Hong Kong and mainland China to purchase wealth-management products internationally did not significantly boost the program's overall investments last week.

As Sunday came to a close, just 6.28% of the total 150 billion yuan ($21 billion) limit in the southbound Wealth Management Connect program had been utilized, a barely noticeable rise of 0.08% compared to before more companies became involved. The usage in the northbound direction was significantly less.

Experts within the field highlight a variety of problems, from limited advertising strategies to strict investment qualifications, which they believe will persist in discouraging affluent Chinese individuals from participating in the program – even as they eagerly set up bank accounts in Hong Kong to investigate different financial opportunities like insurance and fixed deposits.

"The addition of more brokers is irrelevant," stated Eugenie Shen, who leads the asset management group at the Asia Securities Industry and Financial Markets Association (ASIFMA).

Following the unveiling of OpenAI's Sora, Adobe seems to be lagging in the release of its AI video tool. Despite declaring the development of a browser-based video creation tool two months ago, Adobe's product is still under restricted testing, while OpenAI's Sora has been officially released to the public this week.

Adobe is initiating limited access to the beta version to cater to diverse user needs and to maintain model security. Their website invites users to sign up for the waitlist, as they are keen on collecting user feedback.

The business, set to disclose its quarterly profits on Wednesday, introduced the product under its Firefly range of AI capabilities during its yearly user gathering in early October. They stated that the instrument was already being gradually launched in a restricted public beta stage. Moreover, Adobe has initiated a tool within Premiere, their video-editing application, that allows users to extend video clips with the use of generative AI.

A representative from Adobe announced on Tuesday that they will broaden the accessibility of their services in the upcoming weeks and months. They added that "Adobe Firefly stands as the sole video model in the market that guarantees commercial safety, and since its launch just a month and a half ago, it has received positive feedback from customers."

Shares in Hong Kong tumble as China initiates crucial economic forum

Investors are eager for more comprehensive policy strategies following suggestions of wider stimulus from a Politburo meeting synopsis earlier this week.

The Hang Seng Index experienced a drop of 0.8 per cent, settling at 20,155.05 at the end of trading, while the Hang Seng Tech Index saw a decline of 1.3 per cent. In mainland China, the CSI 300 Index also decreased slightly by 0.2 per cent, whereas the Shanghai Composite Index experienced a slight increase of 0.3 per cent.

Edith Qian, an analyst at China Galaxy Securities International based in Hong Kong, stated that if we want to witness a prolonged upswing in the Hong Kong stock market, it is necessary to see decisive actions, efficient implementation, and undeniable evidence of China overcoming the debt-deflation cycle. She further added that the forthcoming central economic work conference could potentially boost market morale in the short run. She also anticipates that more tangible steps will be taken to continue the implementation of the proposed policy directions in the future.

The Fosun Tourism Group experienced a significant increase of 80 per cent to HK$7.21, marking its greatest surge ever, after the unveiling of a proposal to privatize. The proposed price is 95 per cent more than the last closing price of its shares.

TikTok compensates users for shopping and referring friends as it faces potential prohibition in the US. The company has been focusing on increasing the time users spend on the app and encouraging online shopping behavior, in light of the potential expulsion from American app markets on January 19.

Recently, TikTok users started noticing a fresh "limited time offer" that rewards them with TikTok Shop credits. These promotional offers are showing up on the "For You" page of TikTokers, which is the primary feed displayed when they launch the application. On Friday, a significant legal decision supported a law that could potentially prohibit TikTok across the country as early as January.

Individuals have the opportunity to make $50 by encouraging newcomers to register for TikTok. If they can attract more people, they stand to receive extra bonuses of up to $350. Additionally, they can profit from daily logins into the app for a week and browsing through 10 items on TikTok Shop five times every week. For those who take advantage of the offer, they can gain an extra $80 in discounts, which they can use after buying something from the TikTok Shop.

Despite regulatory obstacles, ByteDance's expansion plans have not been significantly affected. The firm had set a goal to multiply the quantity of goods sold through TikTok Shop by ten times, reaching a total of US$17.5 billion, according to a Bloomberg report in January. ByteDance's aspirations have only grown since then. TikTok Shop saw its US sales triple, exceeding US$100 million on Black Friday. The Shop also made its debut in Spain on Tuesday, marking the beginning of a broader European launch.