Business
South Korea Presidential Election 2025: Korean stocks surge more than 2% after the country’s new president announced
- 2025-06-04
- Business
- The Young Reporter
- By: BO Chuxuan、Wang YunqiEdited by: BO Chuxuan
- 2025-06-04
South Korea’s benchmark index surged 2.7% to 2770.84 at close on Wednesday (as of 3:30 p.m. local time) after Lee Jaemyung brought the presidential election to an end with his widely-expected victory at midnight. The Korea Stock Exchange KOSPI Index opened with a rise of 1.4% after a one-day recess due to the election holiday on June 3, reaching a closing high of 2770.84 – the highest level in over 10 months. The index has gained 20.8% since April lows triggered by concerns over Trump’s reciprocal tariff policies. Financial stocks saw significant gains today, with Bookook Securities surging more than 22% while Mirae Asset Securities, SKSquares, and Shinyoung Securities rose about 13%, charging the KOSPI higher. During his campaign, Lee Jae-myung proposed a series of financial policies, such as customised financial services for the underprivileged and debt relief for small business owners. Tech stocks are also leading gains among other component stocks. Chip and appliance maker Samsung Electronics gained 1.8% to 57,800 KRW, with the semiconductor manufacturer SK Hynix surged 4.8%, and aero engine-savvy Hanwha Aerospace gained 1.2%. Lee claimed his presidency and delivered a speech in front of the National Assembly, prioritising the revision of the economy and livelihood to alleviate economic hardship as his second priority in his incoming administration, following the restoration of democracy. “From the moment my victory is confirmed, I will devote every effort to recovering your livelihoods—quickly and decisively,” he said. Lee has also promised to boost the economy by increasing government spending, improving corporate governance, strengthening labour protection, and wrapping up the ongoing tariff talks and exchange rate negotiations with the Donald Trump administration, which may contribute to stabilising market sentiment. The South Korean won strengthened against major currencies on Wednesday, trading at around 1,363 per dollar and 946 per 100 yen as …
South Korea Presidential Election 2025: Students Embrace AI's Future Potential While Questioning Candidates' Preparedness for Tech Leadership
- 2025-06-03
- Politics
- By: Wang YunqiEdited by: BO Chuxuan
- 2025-06-03
Young voters in South Korea expressed different views on increasing funding for AI development, as some presidential candidates have mentioned AI in their speeches, amid the country's rising financial input for technology research and development. “I think it’s kind of a waste of money because we already have technologies like GPT, and China has DeepSeek. Developing AI requires a lot of information and money,” said Kim Jun Young, an English Education student at Korea University. “Still, we don’t really have sufficient resources to compete on the same level,” she added. Park (assume name), 26, majored in computer science, has also expressed doubts about the practicality and feasibility of AI policies proposed by different candidates. “ I’m doubtful whether they can achieve meaningful advancements in this field,” he said, adding that he thinks many candidates do not understand AI much. South Korea recently increased the research and development budget for 2025 by 16.1 percent year-on-year to a record high of KRW 24.8 trillion (HK$ 141.4 billion) with a focus on cutting-edge technologies such as artificial intelligence (AI), biotechnology, and quantum technology. The ambitious investment aims to position South Korea as a global leader in these fields. Lee Jae-myung, the presidential candidate of the Democratic Party, who leads the poll, has identified AI, renewable energy, and the cultural industries as essential tools for addressing South Korea’s economic challenges meanwhile Kim Moon-soo, first runner-up in the poll, from the conservative People Power Party, promote himself by creating a joint fund to boost AI development. Meanwhile, Lee Jun-seok, the youngest candidate among all, representing the Reform New Party, emphasises the importance of data freedom in AI development and highlights the role of Large Language Models (LLMs) in advancing the industry. AI has become a core driving force for national development, with applications spanning industries …
South Korea Presidential Election 2025: Young voters see the economy as one of their major concerns amid economic downturn
- 2025-06-02
- Politics
- By: BO ChuxuanEdited by: BO Chuxuan
- 2025-06-02
Young voters in Seoul consider the economy one of the major concerns heading into the South Korean 21st presidential election, which takes place on June 3, as South Korea’s central bank cut the basic interest rate by 25 basis points days before to counter the current economic downturn. “The current (economic) situation is really bad, everything is becoming more and more expensive,” said Victoria Kim, a psychology student at Yonsei University, who gave up travelling abroad but visited cities inside South Korea instead because of the depreciation of the South Korean won. South Korea's won weakened sharply after ex-president Yoon Suk Yeol declared emergency martial law, causing a democratic crisis in the country on Dec. 3, 2024, and hit a record low in nearly 16 years after Trump’s declaration of a 25 percent tariff against Korea-manufactured goods in April. While the South Korean benchmark stock index, KOSPI, moved higher and broke a 10-month record high at 2,720.64 on May 29, boosted by tech shares, which strengthened the won against the USD, this was mainly triggered by the US trade court’s blockade of Trump’s global tariffs. For Kim, the economic uncertainty extends beyond travel decisions to her everyday expenses. “I like to be a vegetarian and eat lots of veg and fruit at home, and with the recent price rises it’s a burden to buy and eat,” said Kim, working part-time in Seoul apart form college right now. Being eager to enjoy cultural life, Kim must continue working to save money, which makes her feel frustrated and negatively impacts her mental well-being. Jerry (assumed name), a student in the Korea University department of Humanities, sees social welfare for low-income groups as the key issue in his vote, and is looking for substantial and implementable funding policies to support the research and …
Japan Stocks edges lower after Moody’s cuts U.S. credit ratings, export sectors shine
- 2025-05-19
- Business
- By: XIA Fan、WANG Ruoshui、ZHAO RuntongEdited by: XIA Fan、WANG Ruoshui、ZHAO Runtong
- 2025-05-19
Nikkei 225, Japan’s premier stock market index tracking the performance of 225 large publicly traded companies listed on the Tokyo Stock Exchange, opened at 37572.36 today and dropped 0.68% to 37480.37 as of the market's end. TOPIX, an index overing all domestic common stocks mostly listed on the TSE Prime Market, traded higher at midday at 2744.16, but later reversed course and closed at 2740.45, down 0.075% compared with yesterday. Performances of Japan’s stock market aligned with global cautious sentiment after Moody’s downgraded the US government's top credit ratings. Export-oriented stocks went up amid the falling market. Pharmaceutical company Daiichi Sankyo surged 7.06% to 3,698 yen, which continued the growth trend since last week. Manufacturer Konica Minolta added 6.31% to 469 yen, while Mitsubishi Heavy Industries rose 3.04% to all time highs of 2,916 yen. Beverage company Sapporo Holdings jumped 2.92%to 7613, showing a trending up from the 3-month low on May 14. Analysts believe the weakening Japanese yen fostered a favorable environment for exporters, which would boost investor confidence in companies within this sector. A number of semiconductor-related stocks fell heavily today following the turmoil in U.S. markets. Lasertec Corporation (TSE: 6920), a designer and manufacturer of semiconductor testing equipment, saw its stock price plummet 5.16% today, making it one of the notable underperformers in the Japanese market. Market Commentators attribute this drop to the close correlation between Japanese semiconductor stocks and the U.S. semiconductor market performances. The PHLX Semiconductor Index fell 1.26% as of the report published time amid volatility driven by recent U.S. tariff fluctuations. Ongoing uncertainty in the U.S. market, fueled by frequent pauses and adjustments in tariff policies, has unsettled households and businesses. Sumitomo Mitsui DS Asset Management at the beginning of this year predicted a positive trajectory for the Japanese stock market, emphasizing …
Pop Mart shares extend rally as revenue more than doubled in 2024, driven by IP operation and globalisation strategy
- 2025-03-27
- Business
- The Young Reporter
- By: Yichun Fang、CAO JiawenEdited by: WANG Ruoshui、XIA Fan、BO Chuxuan
- 2025-03-27
Pop Mart’s annual revenue more than doubled and surpassed 13 billion yuan thanks to its IP development and globalisation strategy, according to its 2024 annual results published on Wednesday. Under code 9992, shares of the Beijing-based company climbed more than 9% to HK$ 153.7 today, following yesterday’s 10% gain. During yesterday’s midday announcement, the company reported a 106.9% increase in revenue and a 203.9% yoy surge in net profit to 3.3 billion yuan for the previous fiscal year. “Market acceptance of Pop Mart’s IPs, such as CRYBABY and THE MONSTERS, which contain a flagship product Labubu, is still very high, and unless something unexpected happens, the growth prospects for Pop Mart this year are very positive,” added Kenney Wen, head of Investment Strategy at KGI Asia. The revenue of THE MONSTERS, one of the heated IPs of Pop Mart, saw a revenue of 3.04 billion yuan, a 726.6% surge compared to last year, contributing 23.3% of the overall revenue. CRYBABY, as one of their “fast-growing emerging IPs”, also reached a revenue of 1.16 billion yuan, with a year-on-year growth rate of 1,537.2%. “Buying dolls of these IPs has become a trend-setter,” Wen said. The group’s sales are expected to grow by more than 50% year-on-year in 2025, according to Wang Ning, chairman of the board of directors of Pop Mart, who spoke at yesterday’s Annual Results Announcement. He expected the total sales to reach more than 20 billion yuan in 2025, with the overseas market accounting for more than 10 billion yuan of this total. In 2024, for the market other than Mainland China, the revenue from Hong Kong, Macao, Taiwan and Overseas increased by 375.2% from 1,066.1 million yuan in 2023 to 5,065.7 million yuan. Wang added that the company expects the North American market alone in 2025 to …
New Gold Zone at 2025 International Jewellery Show boosts Hong Kong’s position as trading hub
- 2025-03-04
- Business
- By: Yichun FangEdited by: WANG Ruoshui、XIA Fan、BO Chuxuan
- 2025-03-04
The 41st Hong Kong International Jewellery Show kicking off on Tuesday, debuts the Gold Jewellery Zone at the Convention and Exhibition Centre, with international gold exhibitors drawn in. The Hong Kong Trade Development Council (HKTDC) describes this new addition as a showcase for novel gold jewellery design, part of efforts to strengthen the city’s position as a global hub for gold jewellery trade. Organised by the HKTDC, the Jewellery Show will run from 4 to 8 March, showcasing new product trends including affordable luxury jewellery, men's and unisex jewellery, sustainable development and jewellery technology. “Hong Kong is actively accessing both the technical support of mainland China and the international market, so I hold a strong belief that the gold market here will become increasingly prosperous,” said Winston Chow, director & deputy general manager of Chow Sang Sang Holdings International Ltd. HKTDC said that Hong Kong is leading in the gold product sector. Currently, manufacturers are conducting high value-added processes in Hong Kong, while shifting manufacturing activities to mainland China. Atticus Zhu, the founder of Shenzhen Shangpin Gold Jewellery company exhibiting in the gold jewellery area, said that the consumers of the Hong Kong gold market accept the premium of labor cost on design to a greater extent than mainland Chinese customers, who are relatively more sensitive to the gold price. “Hong Kong is the global hub for gold jewellery trade, providing a springboard to tap into various international markets,” he added. “For example, through Hong Kong, we reached out to the Malaysia market, a country with a 20% overseas Chinese population and has one of the most receptive markets for gold today. ” The gold price rose more than 25% in 2024, the most significant annual gain in 14 years, as regional wars and political changes continued the uncertainty among …
Golden Horse Best Actress playing deaf girl brings attention to vulnerable group films
- 2025-03-04
- Business
- The Young Reporter
- By: ZHAO Runtong、XIA FanEdited by: XIA Fan
- 2025-03-04
Chung Suet-ying, winner of the Golden Horse Film Best Leading Actress, called for more attention to be allocated to locally independent films while thanking fans supporting the film The Way We Talk at the special screening of Hong Kong Baptist University Communication School, her alma mater. The movie explores the choice of hearing-impaired people between using cochlear implants(electronic devices to improve hearing) or simply using sign language. Sophie Fong, played by Chung Suet-ying, was such a girl getting confused between the two advocacies and later decided to follow inner voices for living her own life. As of March 3, the movie achieved a box office of HK$ 5.35 million, ranking the fourth among all movies that have been released locally within the month. Also, nearly 60% of the audience on the Internet Movie Database (IMDB) gave the movie a score above or at eight out of ten. As for awards winning, besides Chung locking in the "Best Leading Actress" at the Golden Horse Film Awards, the movie also secured the Audience Choice Award and the Hong Kong Film Critics Society Recommended Movies Award. "Some worried a movie about ‘deaf people’ will not be popular, but I have confidence in the Hong Kong audience, which was proved by the award we got," said Adam Wong Sau-ping, the director on his Facebook page after winning the "Audience Choice Award" at the Hong Kong Asian Film Festival. “It is a discussion of identity politics,”said the Hong Kong Film Critics Society. “Adam Wong Sau-ping three-dimensionally presents the intersecting situation of deaf people and hearing people, and the diverse faces of their life circle,” the society added. Despite the positive reception of Wong’s film, local productions face challenges in Hong Kong’s competitive market. Only three of the top ten box office movies released in 2025 …
Digital Asset Week Hong Kong 2025 took place as Asia Pacific’s first tokenised retail fund prepares to be launched
- 2025-02-27
- Business
- By: Haoming Zhou、XIA FanEdited by: ZHAO Runtong、XIA Fan、BO Chuxuan
- 2025-02-27
Digital Asset Week Hong Kong 2025 kicked off with the Leadership Summit on Wednesday, bringing global traditional and digital asset insiders together, amid the launch of the Asia-Pacific’s first tokenised retail fund in the near future. “Digital Asset Week is the best event to connect to the people building the future of the digital asset ecosystem,” said Daniel Coheur, co-founder and chief commercial officer of Tokeny, an on-chain finance operating system developing company headquartered in Luxembourg. Known for inventing the ERC3643, one of the newest token standards for tokenisation of the Real World Asset in the blockchain, Tokeny plans to expand the number of employees in Hong Kong to capitalise on the opportunity. Confident about the industry's future, Thomas Zhu, Head of Digital Assets and Family Office Business of China AMC (HK), who will launch Asia Pacific’s first tokenised retail fund tomorrow, is confident about the future development of digital assets. Supported by Standard Chartered Bank, the tokenised retail fund will offer investors “opportunities to earn returns in Hong Kong dollars” through blockchain-based instruments. “We may be able to build another Chinese asset management company on the chain through blockchain technology,” he said. Hong Kong has recently taken action to boost digital assets, including preparing to issue the third tranche of digital bonds through the Hong Kong Monetary Authority, the city’s de facto central bank, and the hosting of Consensus 2025, the world’s top crypto and Web3 summit. Up to now, 10 virtual asset trading platforms have been operating in Hong Kong in the past five years, with the HKEX Bitcoin Reference Index surging more than 870%. As a response to its increasing development, the Hong Kong Securities and Futures Commission launched the “A-S-P-I-Re” for the regulatory roadmap for Hong Kong’s virtual asset market with 12 significant initiatives. “These movements …
Room for improvement in protecting consumer rights in online shopping
- 2025-02-27
- Business
- The Young Reporter
- By: ZHANG Yiping、QIN ZiyangEdited by: WONG Hong Ni
- 2025-02-27
Jiong Jiali, 23, a Malaysian customer, was disappointed when she received a pair of trousers she bought from an Instagram shop in February last year. “This is nothing like the high-quality homemade trousers the shop claimed to sell,” she said on Rednote, a Chinese social media platform. The cutting of the trousers was awkward, and they hung loose around her waist and dragged on the floor. “What is worse is that the shop offered to change the trousers to a smaller size only if I cover the cost of shipping,” said Jiong. “It means I spent over HK$90 on this disappointing pair of trousers.” Despite the sluggish performance of the retail industry, online shopping has been blooming, as the total sales of Hong Kong stores without a physical storefront reached HK$1.41 billion in November 2024 after consecutive 17 months of year-on-year growth. However, the number of consumer complaints regarding online shopping are also on the rise. In 2023, online shopping complaints saw an increase of 19% from the previous year, reaching 12,696 cases and accounting for two-fifths of the total number of retail complaints received, according to the Consumer Council. The amount of money involved also increased by 20% from the previous year, exceeding $43 million. Online shopping consumers often face problems such as delayed delivery, goods not matching descriptions, counterfeit and copyright-infringing products, and difficulties in returning and exchanging goods. According to the Annual Report of the Consumer Council, in 2024, delays, non-delivery and loss of couriers was the most prominent issue, accounting for 24% of total complaints with 3,969 cases recorded. Dr. Yang Lin from the faculty of law at the University of Hong Kong, who specialises in dispute resolution and e-commerce law, said the rise in consumer complaints is a result of a lack of government regulations. …
Budget 2025: Hong Kong to issue third tranche of tokenised bonds and boost digital bonds market
- 2025-02-26
- Business
- By: Haoming Zhou、WANG RuoshuiEdited by: BO Chuxuan
- 2025-02-26
Hong Kong will continue to encourage the issuance of digital bonds through the Digital Bond Grant Scheme and prepare the third tranche of tokenised bond issuance, said Paul Chan, the financial secretary, at his 2025 Budget Speech on Wednesday. The government will explore measures to enhance the wider adoption of bond tokenisation and tokenising traditional bonds, said Chan. “Any movement conducive to the promotion of digital bonds is a good thing,” said Simon Lee, a member of the Legislative Council of Hong Kong, “there has to be enough diversified products to activate the market, so that Hong Kong's position in the financial market can be consolidated.” HKMA has issued two batches of tokenised green bonds, HK$ 800 million in February of 2023 and around HK$ 6 billion in February of 2024, enabling tokenisation to move beyond the proof-of-concept stage to the practical application level. Tokenised bonds, issued and traded with blockchain technology, are a type of digital bond, which globally has reached an issuance value of US$3.9 billion (HK$ 30 billion) by the end of March 2023, according to the Hong Kong Monetary Authority. To encourage more institutions to participate in the issuance of digital bonds, the Digital Bond Grant Scheme (DBGS), a three-years grant scheme of up to HK$2.5 million to cover the eligible digital bond issuance costs, was announced in November last year, after first introduced on Oct. 16, 2024, in the 2024 Policy Address. The echo comes in quick succession as Singapore launched Global-Asia Digital Bond Grant Scheme (G-ADBGS), a five-year digital-bonds-supporting scheme, to promote the issuance of digital bonds in January 2025. “I would consider tokenised bonds as a very good way to invest,” said Chen Shiyi, a virtual asset investor from mainland China who works at Pleasanton Ventures Limited, …