AGP Executive Report
Last update: 11 hours agoTokenised finance in Hong Kong: The SFC has approved Hong Kong’s first “digitally native” tokenised fund, letting professional investors hold direct legal ownership of underlying assets on a public blockchain—an explicit push to rival the US crypto-fund market. Market plumbing meets tech: A PoC from SBI Group, DigiFT and Startale shows JPYSC stablecoin powering end-to-end settlement and onchain dividend distribution for tokenised securities on an Ethereum testnet, aiming to move more capital-market workflows onchain. Cybersecurity watch: Researchers say a suspected China-linked intrusion campaign has integrated Anthropic’s Claude Code and DeepSeek-v4-pro, with Hong Kong-hosted servers tied to phishing kits, web shells and operator logs. China macro, with tech tilt: China’s Q2 GDP growth cooled to 4.3% (weakest in 3+ years) as domestic demand lags even while exports—boosted by AI-linked chips and EVs—stay strong; investors also rotated into “old economy” stocks. Local enforcement: Hong Kong Customs seized 720 bottles of suspected counterfeit liquor (about 575 litres) in a major operation, with lab tests finding no methanol. Hong Kong education: HKDSE results were released, with a record 24 top scorers across 15 schools. Wealth management expansion: CTBC opened an Asia New Bay Area branch in Kaohsiung to scale wealth management and private banking services.
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