Japan’s Prime Minister Sanae Takaichi has secured a commanding mandate after her ruling Liberal Democratic Party won a landslide in a snap general election, delivering the strongest parliamentary majority for a Japanese government in more than seven decades.

The vote followed a high-risk decision by Takaichi to dissolve the lower house and seek an early endorsement from the electorate only months after taking office.

The gamble paid off decisively on Sunday, with her party capturing a two-thirds supermajority in the 465-seat chamber, giving the government the numbers to drive legislation through the lower house with unprecedented ease.

The result has reshaped Japan’s political landscape, long characterised by cautious, incremental leadership and dominated for decades by older male politicians.

Takaichi’s rapid rise and mass appeal have energised voters who typically stay on the sidelines, particularly younger Japanese, while also offering her party a fresh public face at a moment when it had been under pressure from inflation, voter fatigue and reputational damage.

Takaichi’s political profile blends hard-edged social conservatism with an interventionist economic stance.

She has opposed same-sex marriage, backed patriotic education and defended Japan’s single-surname system.

On constitutional reform, she has pledged to press persistently for revision of the post-war framework, including the provision that renounces war, while acknowledging that the process would still require support in the upper house and approval in a national referendum.

Economically, she has aligned herself with robust government action, moving quickly to pursue large-scale spending and framing her agenda around restoring confidence, raising living standards and strengthening national resilience.

Her supporters argue that the scale of the victory reflects a public desire for decisive governance and a clearer national direction.

Internationally, Takaichi has reinforced ties with key partners, while projecting a more direct posture on regional security.

Her recent comments linking the security of Taiwan to Japan’s national interests have further strained already difficult relations with Beijing, which has responded with sharper rhetoric and increased pressure measures.

Takaichi, however, has portrayed Japan’s stance as principled, deterrence-focused and grounded in national self-defence.

The election has also highlighted warming personal and political rapport between Tokyo and Washington.

US President Donald Trump, who praised Takaichi during the campaign period, offered public support ahead of the vote and signalled interest in early engagement with her government, reinforcing the prospect of deeper strategic alignment.

With the next election not due until 2027, the scale of the mandate gives Takaichi a clear runway to pursue her domestic reforms and security agenda, while opponents face the challenge of rebuilding credibility in a political environment now decisively tilted in her favour.

The core issue is no longer whether social media harms children; it is whether democratic governments are prepared to criminalize the mechanics of algorithmic amplification and directly limit platform access to minors.

Spain’s plan to ban social media for under-16s and hold executives criminally liable for failing to remove illegal content marks a decisive shift from consumer protection rhetoric to enforcement power.

This is not a symbolic warning.

It is a test of whether states can reassert sovereignty over digital systems that operate across borders, monetize attention, and shape political culture.

Spain’s proposal would require strict age verification tools, introduce criminal penalties for algorithmic amplification of illegal content, and sanction individuals and platforms that help spread hate.

The initiative aligns with moves in Australia, France and Denmark to restrict youth access, but it goes further by targeting executive accountability and algorithmic design.

The legislation process is set to begin immediately, signaling urgency rather than incremental reform.

Confirmed vs unclear: What we can confirm is that multiple governments are converging around age-based bans and stronger liability standards.

What remains unclear is how strict age verification will function in practice without expanding biometric surveillance, how “algorithmic manipulation” will be legally defined, and whether cross-border enforcement will survive inevitable legal challenges from global platforms.

The gap between legislative ambition and technical feasibility is the decisive fault line.

Mechanism: Social platforms rely on engagement-maximizing algorithms that prioritize emotionally charged content.

Higher engagement yields more advertising revenue.

Children are disproportionately susceptible to feedback loops that reward outrage, validation-seeking and compulsive use.

Age bans attempt to sever access at the entry point.

Criminal liability attempts to rewire incentives at the executive level.

Both measures aim to change behavior by altering the cost structure of digital harm.

Incentives and constraints: Politically, governments face rising parental anger, measurable increases in youth mental health distress, and electoral incentives to act decisively.

Economically, platforms depend on network effects and youth adoption to sustain long-term user bases.

Technologically, reliable age verification without data overcollection is difficult.

Legally, European digital rights frameworks impose privacy and free expression constraints.

Each side is constrained: states by rights law and enforcement capacity; platforms by public trust erosion and regulatory risk.

Stakeholder leverage: Governments control market access, fines, and criminal statutes.

Platforms control the infrastructure of public discourse and can threaten service withdrawal or legal escalation.

Parents and schools exert moral pressure but lack regulatory authority.

Smaller member states gain leverage through coordination, amplifying bargaining power against multinational firms whose revenues often exceed national GDPs.

Cross-border cooperation is the leverage multiplier.

Competitive dynamics: If one major EU country successfully implements an enforceable under-16 ban, pressure will cascade across the bloc.

Firms will resist fragmentation of services by geography because compliance complexity scales costs.

States that hesitate risk appearing permissive toward digital harms.

The race is not ideological; it is regulatory.

Whoever sets the workable model will shape the next decade of digital governance.

Scenarios: In the base case, Spain passes legislation with phased enforcement and negotiates compliance standards with major platforms.

Some litigation follows, but partial age verification systems are deployed and fines become credible deterrents.

In the bull case, coordinated European enforcement creates a de facto continental standard, forcing global platforms to redesign youth access and moderation systems worldwide.

In the bear case, technical loopholes undermine age checks, courts narrow liability definitions, and political momentum dissipates after initial headlines.

What to watch:
- Precise legal definition of “algorithmic amplification.”
- Technical standards chosen for age verification.

- Whether biometric data becomes mandatory.

- First executive-level prosecution or credible threat thereof.

- Cross-border enforcement agreements within the EU.
- Platform decisions to geofence or withdraw services.

- Court rulings on proportionality and free speech.

- Advertising revenue shifts tied to youth restrictions.

- Uptake of alternative youth-specific digital spaces.

- Evidence of measurable reduction in youth exposure to harmful content.

The broader question is whether democracies can impose durable rules on systems optimized for engagement rather than safety.

Age bans and criminal liability represent a power shift from voluntary moderation to statutory enforcement.

If implemented coherently, they will redefine platform governance.

If executed poorly, they risk driving harms into less visible corners of the internet while normalizing intrusive surveillance.

The battle is not about teenagers alone.

It is about who governs algorithmic influence in the digital era.

A young lawyer in Pakistan has launched a constitutional challenge against what campaigners describe as a punitive “period tax,” seeking to have menstrual products reclassified as essential goods rather than luxury items.

Mahnoor Omer, twenty-five, alongside her colleague Ahsan Jehangir Khan, filed a petition arguing that existing tax policies on sanitary products deepen gender inequality and violate constitutional protections against discrimination.

Under Pakistan’s Sales Tax Act of nineteen ninety, locally produced sanitary pads are subject to an eighteen percent sales tax, while imported menstrual products face a twenty-five percent customs duty.

According to the petition, once additional local levies are factored in, the overall burden can reach roughly forty percent.

The legal filing contends that such taxation systemically undermines women’s and girls’ rights to health and education, contravening Article twenty-five of the Constitution, which prohibits discrimination on the basis of sex.

The case was heard in Rawalpindi in late November, where the court directed the government to submit a timely response so proceedings could advance.

Authorities have not yet publicly detailed their position.

Campaigners argue that the financial strain is particularly severe in a country where nearly forty-five percent of the population lives below the World Bank’s lower middle-income poverty threshold of four dollars and twenty cents per day.

In that context, a pack of ten sanitary pads costing between four hundred and four hundred eighty-five Pakistani rupees can represent a substantial share of a household’s daily income, especially when essential food staples already stretch limited budgets.

Only around twelve percent of women and girls in Pakistan use commercial sanitary products, according to data from the United Nations children’s agency.

Many rely instead on cloth, rags or other improvised materials.

Health professionals warn that prolonged use of such alternatives without proper sanitation increases the risk of infection, skin disease and urinary tract complications.

The legal action is also intended to challenge entrenched taboos surrounding menstruation.

Omer recalls classmates experiencing their first periods without prior education, often reacting with fear and confusion.

Medical practitioners report that some girls interpret the onset of menstruation as a sign of serious illness because of the absence of basic reproductive health education.

One in five girls in Pakistan misses school during her menstrual cycle, according to a two thousand twenty-four report, contributing cumulatively to significant educational loss.

Advocates say inadequate sanitation facilities, lack of affordable products and social stigma combine to push girls out of classrooms and public life.

The impact intensifies during climate-related disasters.

Seasonal floods in recent years have displaced communities and left women in relief camps without access to safe menstrual supplies or private washing facilities.

Aid workers describe cases in which women are forced to wash cloths in contaminated floodwater or resort to unsafe substitutes, compounding health risks.

Supporters of the petition describe the case as part of a broader generational shift toward open discussion of reproductive health.

Omer and Khan say they draw encouragement from similar reforms in neighboring countries where taxes on menstrual products have been reduced or abolished.

They hope the litigation will prompt legislative review and catalyze a national conversation on period poverty, public health and gender equality.

Hong Kong has experienced a significant uptick in global wealth flows as ultra-high-net-worth individuals and families increasingly establish single-family offices in the city, reinforcing its position as a premier wealth-management centre in Asia.

Recent official data shows that the number of single-family offices operating in Hong Kong has risen by more than twenty-five percent over the past two years, reflecting sustained international interest.

Wealthy families from mainland China, Europe, the Middle East and the United States are among those choosing the city as a base to manage intergenerational capital, investment portfolios and bespoke wealth-planning strategies.

Officials attribute the growth to targeted policy incentives, a competitive tax regime and Hong Kong’s strategic role as a gateway to mainland China’s capital markets.

The absence of mandatory licensing requirements for single-family offices and the availability of professional services expertise have further enhanced the city’s appeal compared with regional competitors.

The expanding family office ecosystem is contributing materially to the local economy.

Operating expenditures run into billions of Hong Kong dollars annually and support thousands of full-time jobs across legal, accounting, asset management and advisory sectors.

Authorities say the influx of capital has also stimulated investment into technology, innovation and alternative asset classes.

Many family offices indicate plans to increase their allocations to Hong Kong-based investments in the coming years, citing confidence in regulatory clarity and market connectivity.

Policymakers are moving to broaden the scope of eligible investments under preferential tax arrangements, including digital assets and private credit, as part of efforts to consolidate Hong Kong’s competitive advantage.

As global wealth becomes increasingly mobile, Hong Kong’s ability to attract and retain family offices underscores its enduring role as a nexus for cross-border capital and private wealth management in Asia.

Hong Kong must maintain an “unrelenting” commitment to safeguarding national security as it consolidates recent legislative and enforcement measures, according to a strongly worded editorial that calls for sustained vigilance amid evolving risks.

The commentary argues that while stability has returned following the implementation of the national security law and subsequent local legislation under Article 23 of the Basic Law, complacency would be premature.

It emphasises that external interference and residual destabilising elements remain potential threats, requiring authorities and society at large to remain alert.

Officials have in recent months underscored that national security is foundational to economic development and investor confidence.

The editorial reflects this position, linking the city’s improved business climate and renewed capital market activity to what it describes as a strengthened legal and institutional framework.

It notes that predictable governance and the rule of law are reinforced, not undermined, by clearly defined security boundaries.

The piece also calls for deeper public education, particularly among young people, to foster broader understanding of constitutional responsibilities and civic obligations.

Schools, universities and community organisations are encouraged to integrate national security awareness into their programming to ensure long-term resilience.

While critics abroad have questioned aspects of the security regime, the editorial maintains that the measures are lawful, necessary and consistent with international norms on sovereignty and public order.

It stresses that enforcement actions are targeted at conduct that endangers the state rather than ordinary civil or commercial activity.

As Hong Kong continues to position itself as an international financial centre and gateway between mainland China and global markets, the editorial concludes that safeguarding national security must remain a continuous and adaptive effort rather than a completed task.

Automotive shares led gains in Hong Kong after fresh policy measures from Beijing signalled stronger support for domestic consumption and the electric-vehicle supply chain, prompting investors to reposition into the sector.

Carmakers, battery producers and key component suppliers recorded broad advances, helping to lift the Hang Seng Index in early trading.

The rally followed the announcement of additional pro-consumption initiatives aimed at stabilising growth and encouraging vehicle purchases, including extended tax incentives for new-energy vehicles and targeted subsidies in selected regions.

Market participants interpreted the measures as reinforcing the central government’s commitment to sustaining momentum in the automotive transition toward electrification and advanced manufacturing.

Major electric-vehicle manufacturers with dual listings in Hong Kong saw shares climb sharply, while traditional automakers also benefited from expectations that improved consumer sentiment could support overall vehicle sales.

Battery makers and upstream materials suppliers rose in tandem, reflecting optimism about supply-chain demand and production volumes.

Analysts noted that the automotive sector has remained sensitive to policy direction, particularly as China seeks to balance industrial upgrading with domestic demand growth.

The latest measures are viewed as part of a broader strategy to underpin economic activity while consolidating the country’s leadership in electric mobility technologies.

Trading volumes in leading auto counters increased compared with recent sessions, indicating renewed investor participation.

Market strategists said sustained gains would depend on the durability of policy implementation and evidence of stronger retail sales data in the coming months.

The advance in auto stocks contrasted with more muted performance in other sectors, underscoring how targeted government initiatives continue to shape capital flows within Hong Kong’s equity market.

Wuxi Lead Intelligent Equipment, a leading Chinese manufacturer of automated machinery for battery production, launched its highly anticipated secondary listing in Hong Kong after raising approximately US$630.7 million in new capital.

The company’s shares opened close to the offer price of HK$45.80 (about US$5.86), reflecting a subdued reception from investors amid a broader environment of cautious market sentiment and thinning liquidity ahead of the Lunar New Year holiday.

The proceeds for the offering, which involved the issuance of more than 107.6 million new shares including the exercise of an overallotment option, will support Wuxi Lead’s global expansion, including research and development, sales and service network development outside China, and other corporate purposes.

Wuxi Lead supplies equipment to major global customers, including Tesla, Contemporary Amperex Technology and Volkswagen, and is considered a key participant in the electrification supply chain.

Market reaction to the debut was muted compared with some larger Hong Kong listings that have seen significant price appreciation on first trading days, highlighting the varied responses among investors toward different sectors and companies.

The Shenzhen-listed shares of Wuxi Lead were trading lower on the mainland exchange, contrasting with the relatively stable performance in the Hong Kong venue.

Observers noted that Hong Kong’s IPO pipeline remains robust, with the exchange continuing to attract both domestic and international issuers as it consolidates its role as a major capital-raising hub in Asia.

UBS Group has announced plans to hire around fifty wealth management bankers in Hong Kong as part of a targeted expansion of its private banking operations in Asia.

The move, confirmed by Asia Pacific wealth management co-head Amy Lo, reflects the bank’s strategy to strengthen its presence in North Asia after a year of record contribution from the region’s markets.

The additional hires will primarily focus on serving high net-worth clients, broadening UBS’s capacity beyond its traditional emphasis on ultra-high net-worth and billionaire sectors.

Executives noted that the expansion follows strong performance in Hong Kong’s initial public offering market and a recovery of assets following the integration of Credit Suisse’s operations — a process that previously led to some talent departures.

Although global net new asset inflows slowed in the fourth quarter, Asia Pacific attracted significant new assets, underscoring the region’s importance to UBS’s global wealth management business.

To support its enlarged team, UBS has taken possession of new premises at the International Gateway Center in West Kowloon, with plans to open the site later this year.

The location aims to position the bank closer to the Greater Bay Area, enhancing service for clients across Hong Kong, Macau and mainland Chinese cities.

In addition to recruitment in Hong Kong, UBS has signalled interest in selective expansion on the Chinese mainland through potential partnerships, although details have not been disclosed.

UBS also continues to refine internal processes, including enhanced scrutiny of client wealth sources and documentation, as part of its efforts to support sustainable growth.

The bank’s Asia Pacific wealth unit, which operates a sizeable Mandarin-speaking team based in Switzerland, has doubled assets under management in recent years and anticipates further growth by 2030. The hiring initiative in Hong Kong is seen as central to cementing UBS’s competitive position in a market characterised by dynamic wealth creation and client demand for private banking services across the region.

Hong Kong’s stock market rallied in the run-up to the Lunar New Year holiday, with major indexes posting gains as investor sentiment improved and risk appetite returned ahead of the extended break.

The Hang Seng Index rose steadily, lifting nearly one percent in mid-session trading and closing higher in recent sessions as most sectors advanced, supported by optimism from Wall Street and expectations of strong holiday consumption.

Trading volumes thinned as the city prepared for the long Lunar New Year holiday, which will pause local markets for several days.

Mainland shares likewise ended slightly higher, while technology and consumer names contributed to the positive bias.

The Hang Seng China Enterprises Index and the tech-focused gauge also posted modest gains, reflecting broad-based buying interest before the holiday closure.

Market participants said the improvement in risk sentiment was partly driven by a rebound on Wall Street, where major U.S. benchmark indexes have climbed, boosting confidence among Asian investors.

Mainland travel and consumption stocks also attracted interest, with traders anticipating robust holiday spending and travel demand during the festivities.

Despite subdued liquidity typical of pre-holiday sessions, strong performances by selected large-cap and growth stocks helped underpin the overall advance.

The positive move in Hong Kong equities comes as investors assess economic data and corporate earnings while positioning themselves ahead of disrupted trading schedules.

With the Lunar New Year holiday imminent, market watchers will look to how sentiment sustains once trading resumes after the extended break.

A Hong Kong court has convicted the father of a US-based pro-democracy activist under the territory’s national security law for unlawfully dealing with his daughter’s insurance policy, in one of the most prominent prosecutions of a family member of an exiled dissident.

Kwok Yin-sang, aged sixty-eight and the father of Anna Kwok, was found guilty of handling property belonging to an “absconder” — a legal term used after authorities designated her daughter under the Safeguarding National Security Ordinance — by accessing or attempting to access insurance funds in her name following her departure from Hong Kong.

The charge, brought under section ninety of the ordinance, reflects authorities’ broad interpretation of the law’s provisions on dealings with the assets of individuals accused of undermining national security.

Kwok’s prosecution marks the first time that relatives of an overseas activist wanted on national security grounds have been charged under the sweeping legislation.

The court heard that after meeting his daughter overseas, Kwok returned to Hong Kong and made attempts to withdraw funds from her life and accident insurance policies, which prosecutors characterised as indirectly assisting a fugitive.

During earlier proceedings, he pleaded not guilty, and his case has drawn attention to how the national security law extends beyond direct political action to financial and familial connections.

Human rights organisations have criticised the conviction as part of a broader pattern of legal pressure on relatives of dissidents, warning that targeting family members could be a form of collective punishment that undermines international legal norms.

The sentencing also underscores the expansive reach of Hong Kong’s national security framework, which in recent years has been used to pursue activists, journalists and other critics of the city’s governance.

Supporters of Kwok have called for international scrutiny and urged authorities to consider the humanitarian implications of applying national security provisions in cases involving financial arrangements.

Hong Kong’s government has reiterated its commitment to supporting the growth of the local digital asset community, with the city’s leadership emphasising ongoing efforts to expand licensing, regulatory clarity, and institutional participation in the sector.

During remarks at a major industry gathering in early 2026, Chief Executive John Lee reaffirmed that Hong Kong will continue to back development of virtual asset markets and related innovation, even as authorities refine the broader legal and supervisory framework.

Hong Kong’s digital finance agenda has gathered momentum in recent years with the enactment of a stablecoin licensing regime, which is expected to deliver its first licences in the first quarter of 2026, laying the groundwork for formally regulated fiat-referenced tokens.

Officials have also signalled progress on licensing for virtual asset trading platforms and are extending oversight to dealers and custodians, building a comprehensive rulebook for the evolving market.

This structured approach aims to balance innovation, investor protection and financial stability while nurturing a competitive industry environment.

The city’s regulators and financial sector leaders have underscored strong engagement from both local and international firms, pointing to significant increases in digital asset-related transactions and the participation of hundreds of banking and asset management institutions in tokenised products and services.

Hong Kong’s platform also supports development of real-world asset tokenisation, improved cross-border payments and expanded fintech talent initiatives, positioning the city to capitalise on growing demand for blockchain-enabled financial services.

Despite Beijing’s more cautious signals toward offshore crypto exposure for mainland firms, Hong Kong’s officials continue to promote a reasoned strategy that attracts firms seeking a regulated environment.

The combination of clear regulatory pathways, targeted licensing regimes and ongoing policy support reflects the city’s determination to sustain local digital asset community growth and reinforce its status as a leading global hub for digital finance.

Hong Kong is proceeding with plans to regulate and license stablecoin issuance under a formal legal framework, reaffirming its ambitions to be a major hub for digital finance even as mainland Chinese authorities express reservations about crypto activity and private currency initiatives.

Hong Kong’s Legislative Council passed the Stablecoins Ordinance in May 2025, creating a licensing regime that took effect on August 1 and requires issuers of fiat-referenced stablecoins to obtain approval from the Hong Kong Monetary Authority and meet stringent requirements on reserves, anti-money-laundering and operational standards.

Local authorities have emphasised that stablecoins are to be treated as infrastructure within the regulated financial system rather than speculative assets, with licensing expected to begin in earnest in early 2026 and only a limited number of issuers authorised initially.

The regulatory push has attracted interest from dozens of potential applicants, including fintech startups and consortia combining banking, technology and telecommunications firms, which see issuance of Hong Kong-dollar-pegged tokens as a way to enhance cross-border payments and institutional liquidity.

Development of a robust framework is seen by proponents as necessary to support efficient and compliant digital settlement tools while maintaining oversight aligned with Hong Kong’s status as a global financial centre.

Nevertheless, authorities in Beijing have taken a more reserved stance, urging mainland tech giants and financial groups to scale back their stablecoin ambitions and limit exposure to offshore crypto assets amid concerns about systemic risk and monetary control.

Several large Chinese firms reportedly paused plans for Hong Kong stablecoin projects following guidance from regulators including the People’s Bank of China, underscoring the nuanced relationship between Hong Kong’s financial autonomy and mainland policy priorities.

Despite these reservations, Hong Kong’s approach to stablecoin licensing reflects a strategic effort to balance innovation with financial stability, positioning regulated digital assets as part of broader market infrastructure while navigating regulatory caution on both sides of the border.

Market participants view the city’s measured rollout as an opportunity to build credibility and trust in stablecoins as institutional settlement tools under careful supervision, even as the pace of adoption and the extent of private sector involvement evolve.

Chinese electric vehicle manufacturer XPeng has introduced a new integrated charging payment service in Hong Kong, enabling drivers to start, end and pay for EV charging directly within the official XPeng mobile application.

The service, launched on February nine, marks a significant step in XPeng’s strategy to enhance user convenience across its charging ecosystem and support the company’s broader global ambitions.

XPeng has partnered with Ant International’s payment arm Antom, which provides the digital payment infrastructure that underpins the functionality and enables users to complete transactions using AlipayHK.

The new solution allows drivers to scan a QR code at a charging pile or use the in-app interface to manage the entire charging session, offering Hong Kong EV owners a smoother and more efficient experience.

XPeng’s charging services in Hong Kong are initially integrated with networks operated by partners including Cornerstone Technologies and EV Power, covering more than 1,600 public chargers.

Additional payment options, including credit cards and a broader set of local digital wallets, are expected to be introduced soon as part of the rollout.

The company has framed the initiative as the first phase of a wider effort to standardise and simplify charging payments for electric vehicle users globally, positioning seamless ‘‘Search · Locate · Charge · Pay’’ capability as a key competitive offering in the smart mobility space.

The Hong Kong launch builds on XPeng’s expanding presence in the city — earlier establishing charging infrastructure and a tech experience centre — and on its regional efforts to grow EV charging accessibility across the Asia-Pacific.

Later in 2026, the payment service platform will be extended to other key markets, including Singapore, Thailand, Malaysia and Indonesia, with support for local payment methods like DANA, Touch ’n Go eWallet and TrueMoney.

Antom’s global payment ecosystem, which integrates more than 300 payment methods across over 200 markets and supports acceptance in more than 100 currencies, will underpin this international expansion, enabling XPeng to deliver a unified charging experience for drivers in multiple countries.

A Chinese artificial intelligence chipmaker that raised substantial capital through a Hong Kong initial public offering saw its shares trade without significant movement on debut, reflecting a cautious mood among public market investors for early-stage tech listings.

Axera Semiconductor, a fabless designer of AI inference system-on-chips for on-device and edge computing applications, offered 104.9 million H-shares at HK$28.20 each, raising nearly HK$3 billion to support technology development, product expansion and broader commercial reach amid fast-growing demand for low-latency AI processing outside central data centers.

The company’s business has drawn backing from prominent venture investors and cornerstone subscribers including major technology groups, underlining confidence in its long-term potential.

Founded in 2019, Axera’s portfolio targets visual perception and smart vehicle segments, with the firm citing leadership in mid-to-high-end visual edge AI chip shipments in 2024. However, its Nasdaq-listed stock trading data show that early trading on the Hong Kong Stock Exchange has been muted, with the share price remaining effectively flat as investors weigh prospects for growth against typical early-stage financial losses and the capital-intensive nature of chip development.

The performance is being watched closely as a signal of how public markets value high-growth, deep-tech companies that are still building out revenue and seeking paths to profitability, and could influence appetite for future listings in the sector.

The sentencing this week of media mogul Jimmy Lai and former Apple Daily executives to lengthy prison terms under Hong Kong’s national security law has come to symbolise a profound shift in the city’s media environment, illustrating an era in which independent journalism faces acute peril.

Lai, 78, the founder of the once-vibrant Apple Daily — which was forced to shutter in 2021 after government raids and asset freezes — received a 20-year prison sentence on February 9 for conspiracy to collude with foreign forces and publishing seditious material, the harshest penalty handed down under the 2020 National Security Law since its imposition by Beijing.

The decision follows Lai’s conviction last December by a panel of judges without a jury, in proceedings that cited hundreds of articles as evidence of alleged wrongdoing and reflected authorities’ strict interpretation of national security offences.

Lai’s co-defendants, including six former Apple Daily executives and two activists, received severe sentences ranging from around six to ten years after guilty pleas or cooperation with prosecutors.

Their prosecutions and penalties represent the most high-profile media-linked trial in Hong Kong’s recent history and crystallise authorities’ determination to enforce security laws against perceived dissent.

Once a leading voice advocating democratic values and editorial independence, Apple Daily’s closure was part of a broader crackdown on independent media following the introduction of the national security law in response to widescale pro-democracy protests in 2019. Since then, numerous outlets have folded or significantly curtailed operations, and journalists have faced arrests, prosecutions and heightened self-censorship, reshaping the landscape for press freedom in the city.

International reaction to Lai’s sentence has been swift and critical.

Western governments, multilateral bodies and rights groups have described the ruling as disproportionate and damaging to media freedoms, warning that it erodes Hong Kong’s reputation as a global financial centre with an autonomous legal system.

Authorities in Beijing and Hong Kong staunchly defend the convictions as lawful applications of security statutes necessary to safeguard stability and national interest.

Amid this sharp divergence of views, Lai’s sentencing is widely seen as a defining moment in the ongoing contest between press autonomy and state security imperatives in the former British colony.

Hong Kong’s initial public offering (IPO) market has mounted a robust recovery, with listing activity and funds raised climbing sharply in recent months, signalling renewed confidence in the city’s capital markets.

The first month of 2026 delivered one of the strongest January performances on record, with a flurry of applications and sizeable capital raised from new listings, underscoring a powerful rebound from the downturn of the early 2020s.

This resurgence aligns with sustained momentum through 2025, when Hong Kong reclaimed its place among the world’s leading venues for public offerings, driven by megadeals and a diverse pipeline of issuers capturing investor interest amid favourable market conditions.

Market data show that in January 2026, a dozen companies listed on the Hong Kong Stock Exchange, collectively securing more than US$4 billion in new capital and marking one of the highest fundraising totals for the month historically.

Listing applications nearly tripled from a year earlier, reflecting strong demand from firms seeking to tap Hong Kong’s deep pools of liquidity.

The pipeline of prospective IPOs now spans sectors including technology, artificial intelligence, biotech and consumer goods, illustrating broadening issuer interest.

The rebound builds on a banner 2025 for the city’s IPO ecosystem.

According to professional services firms, Hong Kong was a major contributor to the global IPO market last year, with funds raised tripling and buoying the territory’s status as a premier fundraising hub.

Large-capital deals, including technology and industrial listings, have helped drive this recovery, while regulatory reforms and efforts to streamline listing processes have supported issuer confidence.

Looking ahead, analysts and advisers expect the momentum to continue into 2026, with forecasts suggesting the market will maintain strong performance supported by diverse sectors and an attractive financing environment.

The revival of Hong Kong’s IPO market not only reflects improving economic sentiment but also reinforces the city’s role as a critical gateway between mainland Chinese firms and global capital, attracting both domestic and international investors eager to participate in new equity offerings.

China offers stability and certainty amid global unpredictability, former Hong Kong chief executive Leung Chun-ying said, describing Beijing as “a pair of steady hands” at a time of heightened geopolitical and economic uncertainty.

Leung, who now serves as vice-chairman of the National Committee of the Chinese People’s Political Consultative Conference, made the remarks in Jakarta on Tuesday during a keynote address at the South China Morning Post’s China Conference: Southeast Asia 2026, where he urged strengthened cooperation between China, Hong Kong and Southeast Asian nations against a backdrop of global turbulence.

China opposes unilateralism and protectionism, he said, and remains committed to upholding multilateral trade systems and the authority of the United Nations even as the global environment becomes increasingly unpredictable.

Leung emphasised that China’s dedication to fairness and justice, and its efforts to build what he described as a ‘‘community with a shared future for humanity,’’ make it a source of economic growth and a much-needed anchor of certainty for markets and states.

He added that, despite diversity and complex challenges in the Southeast Asian region, shared values and resilience have helped countries navigate recent volatility and will continue to underpin broader cooperation for mutual benefit.

Leung’s comments reflect a broader narrative promoted by Beijing that China’s domestic and international policies — including efforts to sustain economic momentum and maintain open engagement — contribute to global stability at a time of shifting power dynamics and mounting external pressures.

His remarks also underscored the importance of enhanced ties between China and Southeast Asian partners in areas such as trade, investment and infrastructural integration to ensure lasting economic and strategic resilience in an uncertain world.

The United States government has sharply criticised the 20-year prison sentence handed down to Hong Kong pro-democracy media tycoon Jimmy Lai, denouncing the punishment as unjust and urging Chinese authorities to grant humanitarian relief.

The U.S. State Department described the sentence imposed on February 9 under Hong Kong’s national security law as ‘‘an unjust and tragic conclusion’’ to the case, asserting that it highlights Beijing’s willingness to silence advocates for fundamental freedoms in the former British colony.

Lai, a 78-year-old founder of the now-defunct pro-democracy newspaper Apple Daily and a vocal critic of China’s Communist Party, was convicted in December 2025 on charges of conspiracy to collude with foreign forces and conspiring to publish seditious articles.

Monday’s sentence — the harshest handed down under the 2020 national security law — has drawn widespread global attention and concern.

U.S. officials said Washington is urging Chinese and Hong Kong authorities to consider granting Lai humanitarian parole given his age and health, framing the case as emblematic of broader fears over diminishing political space and press freedom in Hong Kong.

The statement echoed broader international reactions from Western capitals and multilateral bodies that have criticised the verdict and called for Lai’s release.

The White House’s response underscores ongoing U.S. policy commitments, including under the Hong Kong Human Rights and Democracy Act, which obliges Washington to assess human rights conditions in the territory and consider targeted measures in response to erosion of autonomy.

U.S. lawmakers have repeatedly cited Lai’s case as a measure of the health of Hong Kong’s rule of law and civil liberties.

Beijing and Hong Kong authorities have defended the prosecution and sentence as lawful enforcement of national security protections, rejecting foreign criticism as interference in internal affairs.

Still, Washington’s public denunciation and calls for humanitarian relief highlight sustained geopolitical tensions over Hong Kong’s governance and the treatment of dissidents and independent journalists under the national security framework.

Hong Kong’s leader, John Lee, publicly defended the 20-year prison sentence imposed on prominent pro-democracy media tycoon Jimmy Lai, saying the punishment was warranted in light of the harm Lai’s activities allegedly caused to Hong Kong and China.

Lee made the remarks on Tuesday as international criticism intensified following Lai’s sentencing under the city’s national security law, emphasising that the verdict upholds local legal principles and addresses threats to social stability.

Lee said Lai had sought foreign intervention and sanctions against China and the Hong Kong Special Administrative Region, conduct he described as seriously damaging to the territory’s interests and public welfare.

He asserted that Lai used his former newspaper, Apple Daily, to foment division, incite hatred and undermine national security, arguing that the sentence demonstrated the rule of law and delivered justice for the broader community.

Lai, 78, was sentenced on February 9 to 20 years’ imprisonment after being convicted of conspiracy to collude with foreign forces and to publish seditious material, in landmark proceedings under the 2020 national security law.

The ruling drew strong international reactions, with governments, rights groups and diplomatic bodies characterising the verdict as disproportionate and a significant blow to press freedom, though Hong Kong and mainland authorities have maintained the process was lawful and necessary.

In defending the outcome, Lee reiterated that the legal process was conducted openly and in accordance with evidence and statutes, dismissing assertions that Lai’s prosecution was politically motivated.

He said safeguarding national security remained a paramount duty of the Hong Kong government, and that actions threatening sovereignty would be met with firm enforcement.

Lee’s comments underscore a stark divergence between local authorities’ interpretation of the case and the international community’s concerns about civil liberties and the legal environment in the territory.

The United States Treasury has cautioned that China could be poised to challenge U.S. leadership in the rapidly evolving digital asset sector by leveraging Hong Kong’s emerging role as a regulated crypto hub.

Testifying before the Senate Banking Committee, Treasury Secretary Scott Bessent said he would “not be surprised” if Chinese authorities are exploring mechanisms to rival American influence in digital assets, given Hong Kong’s active development of regulatory infrastructure and licensing frameworks.

This warning reflects concerns in Washington about maintaining the United States’ competitive edge in blockchain technology and stablecoins at a time when global digital finance markets are maturing.

Bessent’s remarks came during questioning about broader geopolitical competition in finance, including whether Beijing is seeking to build alternatives to American financial leadership through digital assets.

He noted rumours that Chinese initiatives — potentially backed by assets other than the yuan such as gold — are being discussed, though he acknowledged that definitive information is lacking.

Secretary Bessent emphasised that the U.S. aims to remain the pre-eminent crypto jurisdiction by advancing regulatory clarity and supporting private sector innovation, including through recently enacted laws such as the Genius Act, which establishes a framework for stablecoin issuers.

Despite China’s longstanding ban on cryptocurrency trading and mining on the mainland, Hong Kong has taken a differing approach by creating a licensing regime for virtual asset trading platforms and stablecoin issuers.

Authorities in the city have also approved regulated products such as ETFs linked to major cryptocurrencies, drawing interest from firms seeking compliant digital asset exposure.

Analysts say this regulatory openness has positioned Hong Kong as a potential conduit for digital finance innovation and could attract both regional and global capital interested in blockchain-based products.

Bessent stressed that American policy will focus on balancing robust safeguards with enabling industry growth, arguing that the U.S. private sector and its dollar-linked stablecoins represent a well-regulated alternative to state-driven digital money projects.

He also highlighted bipartisan efforts to advance further legislative frameworks for digital assets, underscoring the administration’s commitment to securing America’s leadership in the sector.

The Treasury chief’s comments underscore a broader strategic competition in financial technology between Washington and Beijing, with Hong Kong’s evolving role in digital assets adding a new dimension to global economic rivalry.

Recent high-value robberies targeting currency exchange staff in Hong Kong have prompted renewed scrutiny of security protocols within the foreign exchange and money-handling sector, raising questions about whether current safeguards adequately address the risks faced by firms and their personnel.

In late January, two employees carrying large amounts of Japanese yen were ambushed outside a Sheung Wan money changer and robbed of tens of millions of yen in cash, a case that led to multiple arrests and the recovery of some of the stolen funds.

Police said one of the individuals who initially reported being a victim was later arrested on suspicion of acting as an insider in the plot, underscoring complexities in how these incidents unfold.

Industry insiders acknowledge that carrying large amounts of cash between Hong Kong and overseas partners has been a long-standing practice for some money service operators, particularly when firms need to replenish specific foreign currency stocks or execute exchanges in the absence of direct banking arrangements.

Licensed operators are subject to oversight by Hong Kong’s Customs and Excise Department and must meet anti-money-laundering requirements and record-keeping obligations for sizeable transactions, but critics argue that regulation does not fully mitigate physical security risks inherent in moving large cash consignments.

Consultants and exchange executives say that while typical due diligence and customer verification processes help in screening clients, firms often rely on informal cash exchanges with counterparties, leaving employees vulnerable when transporting funds through public spaces.

Some operators have advised the use of armed escorts or professional cash-in-transit services once transaction values exceed defined thresholds, noting that insurance and guarded transport become more cost-effective at higher sums.

Regulatory requirements also compel individuals entering Hong Kong with substantial amounts of cash to make formal customs declarations, but there is no mandate on declaring the intended use of funds, and compliance rates vary.

Observers say that enhanced industry-wide security standards, broader adoption of armored transport, and closer coordination with law enforcement during high-volume periods could reduce the likelihood of opportunistic attacks.

While the recent robbery spurred arrests and highlighted potential insider involvement, it has also underscored the need for foreign exchange firms to reassess physical security alongside financial controls.

As the sector navigates both regulatory expectations and evolving criminal tactics, experts stress that comprehensive risk management frameworks — combining technology, protocol and personnel training — are essential to reassure clients and protect staff in a city long viewed as a financial hub with relatively low physical crime relative to other global centres.

Tickets for the expanded high-speed rail network linking Hong Kong with mainland China are nearly sold out for the period immediately preceding the Lunar New Year holiday, reflecting strong travel demand and the popularity of newly launched routes.

All classes of seats on services from Hong Kong’s West Kowloon Station to 14 of 16 recently added mainland destinations were fully booked from Friday through next Sunday, according to online booking checks, with major hubs such as Nanjing, Wuxi and Hefei among the most sought-after.

The new connections form part of a broader expansion that now offers direct services from West Kowloon to over one hundred cities across the mainland.

Rail travellers were snapping up seats on long-haul services at premium and standard fare levels in the run-up to the Spring Festival peak.

For example, second-class tickets for the roughly seven-hour trip from Hong Kong to Nanjing South were priced at over HK$1,000, while business-class fares approached HK$3,500.

All classes to other popular destinations including Wuxi East and Hefei South were likewise exhausted for the key pre-holiday days.

The strong uptake comes as Hong Kong and mainland authorities gear up for what is expected to be a record travel surge during the Lunar New Year “Golden Week,” with border checkpoints and transport services preparing for high passenger volumes.

Forecasts suggest that around 1.43 million arrivals from the mainland could enter the city over the nine-day period, requiring cross-department coordination to manage flows efficiently at land, sea and air checkpoints.

This surge in bookings underlines renewed enthusiasm for cross-border travel and the importance of the high-speed rail link as a spine of connectivity between Hong Kong and China’s interior cities.

The rail expansion, which includes destinations across several provinces and upgraded sleeper services to key hubs, reflects broader efforts to support tourism, business travel and family reunions during one of the busiest periods of the year for passenger movement.

Mainland Chinese investors have returned to Hong Kong’s technology sector, buying aggressively even as prices dipped and broader markets experienced volatility, highlighting renewed confidence in the region’s tech outlook.

Southbound flows, where mainland investors use the Stock Connect programme to purchase Hong Kong-listed stocks, have reached near record levels as investors hunt for value and exposure to firms leading artificial intelligence and digital transformation narratives.

This buying comes despite earlier market jitters and a retreat in some tech valuations during recent sell-offs.

A key driver of the renewed interest is optimism around China’s advancements in AI and related technologies, including breakthroughs from domestic AI startups that have helped reshape investor sentiment toward Hong Kong’s tech companies.

The Hang Seng Tech Index, which tracks major technology groups listed in Hong Kong, has benefited from this shift, with several large names posting notable gains on the back of AI-related catalysts and improved earnings prospects.

Market analysts say that while some investors were reluctant to engage during periods of heightened risk and weak performance, the combination of cheaper valuations and strong long-term growth narratives has encouraged renewed participation.

Mainland investors’ participation has accounted for a growing share of turnover, underscoring their influence on market dynamics and liquidity.

This trend reflects broader strategic shifts as investors weigh risks and opportunities in a complex economic landscape.

China’s strong focus on developing AI and tech capabilities has bolstered confidence, even as external pressures and macroeconomic uncertainties persist.

The inflows into Hong Kong tech shares signal a belief among mainland capital allocators that the current market environment offers attractive entry points into firms poised to benefit from innovation-driven growth.

Hong Kong’s expanding role as a hub for corporate headquarters is invigorating demand for commercial property, contributing to a broader rebound in the city’s office and retail markets after years of weakness.

The so-called “headquarters economy,” in which multinational and regional companies establish their main bases in the city, has underpinned stronger leasing activity and encouraged investors to reassess opportunities in prime real estate.

Analysts point to a surge in net absorption of office space in 2025 as evidence of this shift, with Central recording significant gains in recently reported quarterly figures, the strongest in over a decade.

This renewed demand for quality office space comes as locally registered companies hit record levels, with a substantial number of new and redomiciled firms choosing Hong Kong as their base.

The influx of businesses has helped stabilise rents, with the annual decline in overall office rents narrowing significantly, even as vacancy rates remain elevated by historical standards.

A spokesperson for a leading property consultancy noted that the headquarters effect particularly boosts leasing in high-grade buildings that support regional management, capital markets and professional services functions.

The strengthening office market is complemented by a broader commercial property recovery, supported by rising investment activity and improved sentiment.

Consultancy reports show that net absorption across the office sector hit its highest levels since 2018 in 2025, as financial firms, hedge funds and professional services tenants expanded or upgraded their premises.

While new supply scheduled for 2026 could continue to place downward pressure on vacancy and rents, the overall trend reflects more balanced conditions than in recent years.

Retail leasing has also benefited from increased corporate foot traffic and tourism, with high-street vacancy rates declining and modest rent growth forecast for 2026. This broader commercial upswing enhances confidence among investors and developers, even as market participants caution that persistent structural challenges such as elevated supply and shifting tenant preferences will continue to shape the landscape.

The headquarters economy’s contribution to commercial property dynamics illustrates how Hong Kong’s enduring appeal as a strategic base for regional operations can translate into tangible property market outcomes, reinforcing the city’s long-term role as a major Asian financial and business centre.

Hong Kong’s decision to develop a formal five-year plan marks a significant shift in how the city approaches economic governance, signalling a move toward longer-term strategic coordination at a time of heightened global uncertainty.

The initiative, outlined by senior officials in recent policy discussions, is intended to provide clearer direction across economic development, innovation, social policy and integration with regional growth frameworks.

The proposed plan represents a departure from Hong Kong’s traditional emphasis on short- to medium-term policy measures and reactive governance.

Officials say the five-year framework will help align public investment, regulatory priorities and private-sector engagement around shared objectives, offering greater predictability for businesses and investors navigating volatile global conditions.

Supporters of the initiative argue that a structured planning horizon will strengthen Hong Kong’s competitiveness by enabling more coherent development of key sectors such as financial services, technology, logistics and green finance.

The framework is also expected to improve coordination across government departments and enhance the effectiveness of large-scale infrastructure and innovation projects.

The move comes as Hong Kong faces intensifying competition from other regional financial centres and adjusts to shifting economic dynamics, including changing capital flows and evolving trade patterns.

By articulating medium-term priorities, policymakers aim to reinforce confidence in Hong Kong’s long-term prospects while maintaining the flexibility that has historically underpinned its success.

Officials emphasise that the five-year plan will not undermine Hong Kong’s market-driven model but rather complement it by setting clear strategic goals and performance benchmarks.

As details are refined, the initiative is being closely watched as a potential blueprint for how the city balances adaptability with longer-term planning in an increasingly complex global environment.

Digital money and asset tokenisation could double the size of Hong Kong’s fund management industry, according to a newly released report that highlights the city’s ambition to position itself at the forefront of regulated digital finance.

The analysis suggests that the integration of digital assets into traditional investment products could significantly expand assets under management by attracting new capital and improving market efficiency.

The report argues that Hong Kong’s established legal framework, deep capital markets and close connectivity to mainland China place it in a strong position to benefit from the rapid development of digital finance.

By enabling the tokenisation of funds, bonds and other financial instruments, digital money is expected to lower transaction costs, improve liquidity and broaden investor access, particularly among younger and international investors.

Industry participants cited in the report say regulatory clarity has been a critical factor.

Hong Kong authorities have rolled out licensing regimes and guidance for virtual asset platforms, fund managers and custodians, creating what proponents describe as a stable and credible environment for innovation.

This approach is seen as differentiating Hong Kong from other jurisdictions where regulatory uncertainty has slowed adoption.

The report also notes that tokenised funds could unlock efficiencies across the fund value chain, from settlement and custody to reporting and compliance.

These gains, combined with the potential to distribute products digitally across borders, are expected to make Hong Kong-based funds more competitive globally and to draw inflows from both institutional and retail investors.

Looking ahead, the study concludes that sustained collaboration between regulators, financial institutions and technology providers will be essential to realise the full potential of digital money.

If implemented at scale, the report says, digital assets could become a core pillar of Hong Kong’s financial sector growth and reinforce the city’s status as a leading international asset management centre.

Montage is preparing to debut in public markets after completing a nine hundred two million dollar share sale in Hong Kong, marking one of the larger offerings in the city in recent months and signalling a revival in investor appetite for regional listings.

The transaction drew interest from a broad mix of institutional buyers, reflecting confidence in Hong Kong’s role as a gateway for capital raising despite global market volatility.

People familiar with the deal said the offering was structured to balance liquidity with long-term shareholder stability, with cornerstone and anchor investors providing early support.

The sale positions Montage to pursue its growth strategy with a strengthened balance sheet, while also establishing a market valuation benchmark ahead of its debut.

The timing of the listing comes as Hong Kong’s equity market shows signs of recovery, aided by improved sentiment toward Asia, stabilising interest rate expectations and a pickup in cross-border investment flows.

Bankers and investors note that issuers with clear growth narratives and disciplined governance are finding receptive demand, even as selectivity remains high.

For Hong Kong, the transaction adds momentum to efforts to reinforce its standing as a premier fundraising hub, particularly for companies seeking access to international capital alongside regional investors.

Market participants say the deal demonstrates that sizeable offerings can clear when pricing discipline and investor engagement are aligned.

Montage is expected to begin trading shortly, with attention turning to post-listing performance and execution against stated growth plans.

The debut will be watched closely as a barometer of market depth and confidence for upcoming issuers considering Hong Kong as their listing venue.

Hong Kong and Singapore are emerging as key contenders to capture a new wave of capital inflows into Asia as global investors rebalance portfolios amid shifting interest rate expectations and geopolitical uncertainty.

According to the chief executive of DBS Group, Asia’s largest lender by assets, both financial centres are benefiting from renewed attention as investors seek stability, depth and reliable regulatory frameworks in the region.

Speaking on recent market trends, the DBS chief executive said Asia is seeing a gradual return of capital after a period of caution driven by tighter global monetary conditions and volatility in major economies.

He noted that Hong Kong and Singapore each offer distinct advantages: Hong Kong retains its role as a critical gateway to mainland China, while Singapore continues to attract wealth management, private banking and corporate treasury flows due to its reputation for governance and neutrality.

The executive emphasised that capital movements are not a zero-sum contest between the two cities.

Instead, investors are increasingly diversifying across multiple Asian hubs to manage risk and tap into different growth stories.

Hong Kong’s deep capital markets and connectivity to China’s economy remain compelling for investors focused on equities and cross-border financing, while Singapore’s strength in foreign exchange, commodities trading and family office services has drawn significant inflows.

He also pointed to improving sentiment toward Asia as inflation eases in several economies and expectations grow that global interest rates may stabilise.

These factors, combined with strong domestic savings in the region, are supporting a more constructive outlook for Asian financial markets compared with recent years.

Looking ahead, the DBS chief executive said sustained capital inflows would depend on policy clarity, market reforms and continued openness in both jurisdictions.

He added that Asia’s long-term growth fundamentals remain intact, positioning Hong Kong and Singapore to play complementary roles as global investors increase exposure to the region.

Australia has moved to address a dramatic surge in cheap fabricated steel imports, including a significant share linked to Chinese production, by initiating an urgent government inquiry that could lead to tariffs, quotas or other trade restrictions.

The action follows mounting pressure from local steel fabricators and industry bodies who warn that overseas imports, often priced far below domestic costs, are undermining Australian manufacturers and eroding sovereign capability.

Treasurer Jim Chalmers has asked the Productivity Commission to investigate the impact of structural steel imports on the national market, with an interim report due later this year and a final recommendation expected by November.

The inquiry will consider applying tariffs or import quotas under World Trade Organization frameworks to ensure “fair competition” and prevent serious injury to Australia’s steel sector.

Industry representatives report that fabricated steel imports have risen sharply in recent years, with overseas suppliers undercutting local producers by as much as 50 per cent on pricing.

Domestic steel producers and fabricators say the influx of cheap steel is forcing production declines and job losses.

Small and medium enterprises report dramatic drops in output as infrastructure and construction projects increasingly source structural steel from abroad rather than from Australian manufacturers.

The Australian Steel Institute and other stakeholders argue that maintaining a viable local steel industry is essential to national infrastructure supply chains and long-term economic resilience.

While raw steel imports have been relatively steady, fabricated steel — crucial for building and industrial applications — now constitutes a far larger share of annual imports, driving the urgency for potential policy action.

Vietnam has also emerged as a notable exporter of steel products to Australia, adding complexity to trade defense considerations.

Any imposed restrictions would apply broadly across trading partners rather than exclusively targeting China, but because China is a major source of manufactured steel products entering the Australian market, it could bear the brunt of any new measures.

The government’s move to launch the inquiry comes amid broader global trade tensions and follows external protections such as U.S. tariffs on steel and aluminium that have indirectly redirected supply flows to markets including Australia.

Canberra is attempting to strike a balance between defending domestic industry and managing key economic relationships, particularly given China’s role as Australia’s largest trading partner.

The outcome of the Productivity Commission review will shape Canberra’s next steps on trade policy and potential safeguard measures aimed at steel manufacturers.

BLACKPINK’s Lisa made a low-key but striking personal visit to Che Kung Temple in Hong Kong, where she was seen engaging in traditional prayer rituals amid her ongoing global activities.

The Thai-born artist, known internationally for her role in the K-pop powerhouse group and her recent world tour performances, spent time at the temple lighting incense and praying alongside local worshippers, offering a rare glimpse of her spiritual side.

The visit took place as Lisa and her bandmates wrapped up the Hong Kong leg of their Deadline World Tour, which concluded at Kai Tak Stadium in late January.

Video circulating online shows Lisa in casual attire — a pink hoodie, black leggings and glasses — at the bustling temple, where she observed rituals with quiet focus.

According to local testimonials, the singer remained respectful and composed, even as fans recognised her presence and greeted her warmly.

Despite her global fame, the 27-year-old maintained a humble demeanour during the visit.

Temple visitors reported that she approached the experience sincerely, lighting incense sticks and joining others in prayer without hesitation, suggesting a personal connection to spiritual practices.

Her manager declined photo requests inside the temple, indicating that Lisa was dressed modestly and sought a private experience, though she did acknowledge fans with friendly waves outside the formal worship area.

Lisa’s appearance in Hong Kong has drawn attention not only for her musical achievements but also for her willingness to embrace local cultural traditions during her travels.

The visit to Che Kung Temple highlights a different dimension of her public persona — one rooted in introspection and cultural engagement — resonating with fans who value both her artistic excellence and grounded personal presence.

Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, has sold all 218 units released this weekend at its Sierra Sea residential project, marking a strong uptick in primary market activity as the city approaches the Lunar New Year.

Sales were completed within the day, continuing a pattern of robust buyer demand that has seen the development repeatedly sell out new batches of units in recent weeks.

The latest tranche comprised a mix of two-bedroom and three-bedroom flats, with prices after discounts ranging from approximately four point six million Hong Kong dollars to more than ten million Hong Kong dollars.

The average price per square foot on a discounted basis reflected stable pricing conditions, suggesting buyers remain confident despite broader economic uncertainties.

Property agents described the brisk pace as part of a Lunar New Year “mini-boom,” a seasonal phenomenon in which home purchases often accelerate ahead of the holiday period.

Both end users and investors were active, with several buyers acquiring multiple units in single transactions, highlighting sustained confidence among higher-net-worth purchasers.

Located in Shap Sze Heung between Sai Kung and Ma On Shan in the New Territories, Sierra Sea has emerged as one of the most closely watched new residential developments in Hong Kong.

Cumulative sales across its releases have now exceeded one thousand three hundred units, reinforcing signs of renewed momentum in the city’s property market as the festive season approaches.

Hong Kong is preparing to host the highly anticipated Liquidity 2026 institutional summit on February 9 at the JW Marriott Hotel, bringing together global financial leaders to examine the evolving dynamics of multi-asset markets and the intersection of digital assets and traditional finance.

Organised by institutional prime broker LTP, the fourth edition of the event is expected to draw representatives from sovereign wealth funds, pension funds, asset managers, banks, exchanges, custodians, technology firms and regulators for a full-day forum of discussion and networking.

Under the theme “Bridging Digital Assets and Traditional Finance: Building the Next Generation of Multi-Asset Financial Infrastructure,” the summit will focus on key trends shaping the financial landscape.

Delegates will explore topics that include the future of multi-asset trading, risk management and capital allocation, the development of interoperable clearing and custody solutions, and the institutionalisation of digital assets and tokenised products.

The agenda also emphasises building sustainable infrastructure to support market convergence and greater institutional participation.

Now established as a leading platform for institutional dialogue, Liquidity 2026 continues to foster collaboration between traditional financial markets and digital asset ecosystems.

Organisers anticipate more than a thousand attendees representing over 400 institutions, providing opportunities for strategic engagement among senior executives and industry innovators.

Sponsors and partners include prominent market infrastructure providers and finance associations, reflecting deep institutional interest in the discussions that will shape future market structures.

By convening in Hong Kong, the summit underscores the city’s role as a global financial hub and a centre for innovation in multi-asset and digital finance.

With its strategic position in Asia and robust regulatory framework, Hong Kong is positioned to support discussions on cross-border coordination, technological innovation and the expansion of institutional liquidity across traditional and emerging market domains.

An independent inquiry into the catastrophic residential fire that devastated the Wang Fuk Court public housing estate in Hong Kong has revealed “key clues” pointing to systemic failures in safety oversight and building maintenance, senior counsel Victor Dawes has announced.

The findings emerged at the first formal meeting of the inquiry committee, which heard extensive evidence from multiple parties and indicated that a series of structural and procedural problems may have contributed to the tragedy. 

The session, held in Central, began with a moment of silence for the 168 people who lost their lives and nearly 5,000 residents displaced when flames tore through seven of the estate’s eight high-rise buildings during an extensive renovation last November.

Dawes said the information gathered to date provided the committee with a “considerable understanding” of the blaze and suggested that systemic issues — described as “unacceptable” — could not be ignored.

Future hearings will disclose detailed evidence publicly. 

Judge David Lok Kai-hong, who chairs the committee, outlined procedural arrangements for the coming months, noting that the inquiry’s work must proceed without affecting concurrent criminal, civil and coroner’s proceedings related to the fire.

He stressed the importance of ensuring fair legal processes for any individuals or organisations that may face accountability.

Testimony at the session included representatives from government departments, the Urban Renewal Authority, the property manager and architectural consultants linked to the renovation project. 

Residents of Wang Fuk Court, many of whom attended in person or via livestream, urged the committee to identify those responsible and help deliver justice.

Calls for transparency and accountability have grown since the blaze, which authorities initially linked to flammable construction materials, including substandard netting and insulation used during renovations, and to broader concerns about fire safety regulation.

Subsequent hearings, scheduled to start on March 19 and expected to run for several days, will centre on identifying causal factors, evaluating safety standards and proposing reforms to prevent similar disasters in the future. 

Carol Chu, the Malaysian wife of Hong Kong superstar Andy Lau, made an uncommon solo public appearance this week, drawing attention from fans and onlookers for her graceful presence and discreet elegance.

The 59-year-old, who has maintained a low public profile since marrying Lau in 2008, was photographed taking part in a Buddhist activity aboard what appeared to be a ship during a visit to mainland China.

Photos circulating online show Chu wearing a casual oversized T-shirt, her hair pulled back into a ponytail and a face mask, yet still easily recognisable to admirers.

Despite her simple attire, observers noted that Chu carried a luxury handbag valued at nearly fifty thousand Hong Kong dollars, a subtle complement to her otherwise relaxed look.

Onlookers and netizens also remarked on her youthful appearance, noting her smooth complexion and dark hair, which seemed unaffected by age.

Chu’s rare appearance has stimulated online discussion about her enduring poise and the couple’s enduring partnership.

Chu and Lau’s relationship has long been a subject of fascination.

The pair met in the late 1980s and quietly formalised their marriage in Las Vegas in 2008 after years of keeping their relationship out of the spotlight.

They have one daughter, Hanna, born in 2012, and have largely shielded their family life from intense media scrutiny.

Lau has previously acknowledged Chu’s sacrifices and the couple’s efforts to protect their privacy during his long and high-profile career, including measures to ensure the family is not followed by paparazzi during travel.

The latest images of Chu’s mainland visit underscore her continued discretion and understated presence away from the glare of media attention, even as she remains a figure of interest to fans across Asia.

The appearance also highlights the enduring bond between the couple, whose private life has often been maintained with a careful balance of visibility and personal boundaries.

A Hong Kong district councillor has publicly apologised after being photographed parking her vehicle in a designated fire exit lane at a public housing estate, reigniting discussion about the responsibilities of elected representatives and road safety compliance in the city.

Agnes Chau Kit-ying, who serves as a district councillor in the Kwai Chung area, acknowledged the incident and expressed regret for her actions, emphasising her commitment to upholding the standards expected of public officeholders.

The episode came to light when neighbours noticed Chau’s car parked in a lane that is legally reserved to ensure unobstructed access for emergency vehicles, including fire engines, and clear evacuation routes for residents.

Fire exit lanes are regulated to protect public safety and facilitate rapid response in the event of a fire or other emergency.

Chau’s decision to stop in such a space drew criticism from some community members and road safety advocates, who underscored the need for even public figures to model compliance with traffic and public safety laws.

In her statement of apology, Chau acknowledged the concerns raised by residents and said she had taken responsibility for the mistake.

She reaffirmed her respect for the community and said her intention was never to undermine public trust or compromise safety.

The incident has also sparked broader conversations in local political circles about the conduct of officials in everyday civic matters and the importance of setting strong examples for proper behaviour on the city’s roads.

Authorities did not immediately indicate whether any formal citation or fine would be issued in connection with the parking violation.

Meanwhile, the public reaction appears to reflect general support for accountability, with many residents welcoming the councillor’s prompt apology while also stressing that adherence to safety regulations is essential in densely populated urban environments such as Hong Kong’s public housing estates.

Hong Kong is on the cusp of a significant shift in its dining culture as government officials prepare to licence the city’s first dog-friendly restaurants by mid-2026, ending a decades-old prohibition on pets in licensed eateries.

Under a policy initiative announced in the 2025 Policy Address, the long-standing ban that has barred dogs from entering restaurant premises — except guide dogs and police dogs — is to be replaced with a regulatory framework allowing pet-inclusive dining.

The forthcoming change reflects evolving public attitudes and demand from pet owners seeking greater leisure options that include their four-legged companions.

Since 1994, Hong Kong’s food-service regulations have prohibited dogs in dining establishments to safeguard public health, but the growing popularity of pet ownership and international norms in comparable global cities have contributed to momentum for reform.

Under the new regime, eateries can apply for pet-friendly licences, enabling owners to bring dogs into designated areas of indoor dining spaces while adhering to hygiene and safety standards.

The decision has been welcomed by animal lovers and hospitality operators alike.

Pet-friendly cafés and eateries have proliferated across Hong Kong in recent years, informally accommodating pets in outdoor seating and specialised zones even without formal permits.

Many establishments have introduced amenities such as water stations, pet-permitted terraces and even pet-themed menus, underscoring the city’s vibrant and diverse dining landscape.

With official licensing, restaurateurs are expected to invest further in facilities and services tailored to pet companions.

Government guidelines under consideration aim to balance pet inclusion with public health and safety, potentially requiring measures such as leashing, designated pet zones and cleaning protocols.

The policy shift is viewed as part of a broader effort to enhance Hong Kong’s urban living environment, making the city more welcoming for residents and visitors who consider pets an integral part of family life.

As the mid-2026 licensing timeline approaches, many in the culinary and pet communities are preparing for an expanded era of pet-friendly dining experiences across the city.