60 m. ago China’s stablecoin bind: why US dollar tokens matter – and how Beijing may respond

Once a niche corner of the cryptocurrency world, stablecoins have surged into the global spotlight this year, prompting analysts and industry insiders to declare that the digital asset’s time has come. In July, US President Donald Trump signed the GENIUS Act into law, establishing the first federal regulatory regime for stablecoins – a move many believe could pave the way for mass-market adoption. Shortly after, Hong Kong introduced its own ordinance, which took effect on August 1, requiring...

Politics

96 m. ago Trump’s ‘Alligator Alcatraz’ can stay open for now, US appeal court rules

A US appeal court ruled on Thursday that a Florida migrant detention centre known as “Alligator Alcatraz” can remain open for now. A lower court judge had barred the Trump administration and Florida officials last month from bringing any new migrants to the facility and for much of the site to be dismantled, effectively shutting it down. But a three-judge panel of the 11th Circuit Court of Appeals ruled on Thursday that the detention centre can remain open while a Trump administration appeal of...

Politics

10 h. ago Chinese provinces prep for business trips to US amid shaky tariff truce

More Chinese entrepreneurs and local government representatives could soon be packing for New York and California, aiming to take advantage of a recent stabilisation in US-China relations to hop across the Pacific and scout out potential trade and investment opportunities. Visits by delegations from China in the coming months will seek to leverage the pro-business amity and autonomy of local authorities in the US to advance economic ties, as Beijing encourages subnational exchanges. China’s...

Economics

12 h. ago A rising stock tide lifts sales of all financial products in Hong Kong

Sales of non-listed investment products soared to a record last year in Hong Kong, as capital poured into mutual funds, debt and equity-lined financial products amid improving market sentiments, underscoring the city’s growth as a financial hub. Sales increased by 40 per cent from 2023 to a record HK$6.07 trillion (US$778.3 billion), according to a survey released on Thursday by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA). As many as 1.2 million...

Economics

12 h. ago Cambricon shares slump 14%, the most in 7 months, as investors lock in gains

Cambricon Technologies, the artificial intelligence chipmaker dubbed “China’s Nvidia”, tumbled on Thursday as investors took profit from one of the mainland’s most frenzied stock rallies this year. Shares of the Shanghai-listed company sank as much as 16 per cent before closing 14.4 per cent lower at 1,202 yuan, the steepest single-day decline since January 16. The stock lost 84 billion yuan (US$11.8 billion) in market capitalisation. The sharp sell-off also erased 6.9 per cent from the...

Economics

13 h. ago Hong Kong could face windy, wet weekend as potential tropical cyclone forms

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. New users who download our updated app get a seven-day free trial. Hong Kong could experience windy and wet weather from the coming weekend under the influence of a low-pressure area that may become a tropical cyclone, according to the city’s weather forecaster. The Hong Kong Observatory said on Thursday that the low-pressure area might turn into a tropical...

Politics

13 h. ago China’s $1.2 Trillion Stock Market Rally Has Beijing Nervous

China’s $1.2 Trillion Stock Market Rally Has Beijing Nervous  Bloomberg.com

Economics

13 h. ago In too deep? Filipino couple under scrutiny in flood control scandal

As public furore mounts over the revelation of widespread corruption in flood control projects in the Philippines, few names have captured public attention more than Cezarah “Sarah” Discaya and her husband Pacifico “Curlee” Discaya. The couple, once virtually unknown, emerged in the spotlight after Sarah Discaya ran against popular Pasig City mayor Vico Sotto in the May midterm elections – only to lose by a landslide. Her biography has since become a lightning rod for scrutiny. Born in London in...

Events

19 h. ago Trump’s sons’ American Bitcoin stake worth US$1.5 billion in stock debut

A bitcoin company tied to US President Donald Trump’s two oldest sons more than doubled in value in its stock market debut on Wednesday, valuing the sons’ stake at well over US$1.5 billion as the first family grows their crypto business interests. Shares in American Bitcoin, a bitcoin miner, soared as high as US$14.52 on its first day of trade on the Nasdaq, before pulling back to be up 16.5 per cent at US$8.04 by the end of the day. The company was around 20 per cent owned by Eric Trump and...

Politics

21 h. ago China Future Tech webinar | How US tactics could boost China’s chip self

Date and time: Friday, September 19, 2025 10.30am-11.30am (HKT) The webinar will be live streamed on this page on Friday, September 19. Bookmark this page or add it to your calendar to stay informed. Submit your questions to the panel and get them answered during the webinar. Questions from SCMP Plus readers will be prioritised. Upgrade your standard SCMP subscription or start your free trial to enjoy the priority. The US-China chip war is escalating, with Washington’s goal of limiting Beijing’s...

Politics

21 h. ago ‘Stay vigilant’: Singapore elevates turbulence to top aviation safety risk

Singapore has pledged to strengthen aviation safety practices around in-flight turbulence after two accidents last year that resulted in one fatality and multiple injuries. Severe turbulence will now be classified as a state-level operational safety risk, alongside runway incursions, mid-air collisions and system failures, the Civil Aviation Authority of Singapore (CAAS) said in its Singapore National Aviation Safety Plan for 2025-2027, released on Wednesday. The report identified 45 actions to...

Events

23 h. ago Indonesia’s Prabowo, in China’s Spotlight, Ignores Nation’s Tumult for Global Showmanship

Indonesia’s Prabowo, in China’s Spotlight, Ignores Nation’s Tumult for Global Showmanship  The China-Global South Project

Politics

25 h. ago China Unveils Large Unmanned Stealth Fighter Design During Military Parade

China Unveils Large Unmanned Stealth Fighter Design During Military Parade  The War Zone

Events

26 h. ago Trump hints US troops could go into New Orleans, a blue city in a red state

US President Donald Trump suggested Wednesday that New Orleans could be his next target for deploying the National Guard to fight crime, potentially expanding the number of cities around the nation where he may send federal law enforcement. Trump has already said he plans to send the National Guard into Chicago and Baltimore following his administration deploying troops and federal agents to patrol the streets of Washington last month. “So we’re making a determination now,” Trump told reporters...

Politics

26 h. ago Trump suggests US troops could go into New Orleans, a blue city in a red state

US President Donald Trump suggested Wednesday that New Orleans could be his next target for deploying the National Guard to fight crime, potentially expanding the number of cities around the nation where he may send federal law enforcement. Trump has already said he plans to send the National Guard into Chicago and Baltimore following his administration deploying troops and federal agents to patrol the streets of Washington last month. “So we’re making a determination now,” Trump told reporters...

Politics

28 h. ago North Korea's Kim Jong Un debuts daughter – and potential successor – to the world

North Korea's Kim Jong Un debuts daughter – and potential successor – to the world  CBS News

Politics

37 h. ago More Chinese went to cinemas this summer, but filmmakers still face challenges

China’s film market showed signs of recovery this summer, but industry insiders said it was still grappling with challenges. By the end of last month, this year’s domestic box office totalled 39.23 billion yuan (US$5.5 billion), according to the China Film Administration, with over 900 million film-goers. The summer season generated 11.96 billion yuan in box office revenue, up 2.76 per cent year on year but well down on the 20.62 billion yuan record set in 2023 and the pre-pandemic levels of...

Culture

37 h. ago Hong Kong’s sustainable debt market grows 15% on eve of Green Week

The sustainable debt market in Hong Kong recorded solid growth in the first half of the year, with estimated issuances rising 15 per cent to US$34.3 billion from a year earlier, the Hong Kong Monetary Authority (HKMA) said on Wednesday as the city prepared to host the second annual Green Week event. Kenneth Hui, the authority’s executive director (external), said he hoped the momentum would extend to the second half, noting strong demand from international investors, particularly in Europe and...

Economics

43 h. ago Advanced missiles, stealth drones: China puts new PLA weapons in spotlight at parade

Advanced missiles, stealth drones: China puts new PLA weapons in spotlight at parade  South China Morning Post

Events

48 h. ago Google avoids forced Chrome sale but must share search data with competitors

A judge ruled largely in favour of Alphabet’s Google on Tuesday, rejecting US prosecutors’ bid to make the company sell off its popular Chrome browser and Android operating system but compelling the tech giant to share data with competitors to open up competition in online search. Alphabet shares were up nearly 6.7 per cent in extended trading on Tuesday as investors cheered the judge’s ruling. While sharing data with competitors will strengthen Google’s rivals to its market-dominating...

Politics