Flash News

TREE NEWS update: Bank of England Governor Andrew Bailey said monetary policy requires a firm commitment to bringing inflation back to target, adding that core market resilience must be strengthened. He said greater absorption of government debt has brought higher vulnerability, and that while markets are seeing larger swings, conditions remain some distance from normal with no liquidity shortage or market stress yet.

TREE NEWS reports: Hong Kong’s Securities and Futures Commission reported that commission revenue from virtual asset trading totaled HK$99.3 million in the first half of 2026, down HK$15.5 million, or 13.5%, from HK$114.8 million in the second half of 2025. Total net commission and interest income from securities, futures and options, leveraged foreign exchange and virtual asset trading rose 13% to HK$45.4 billion, while the securities industry’s net profit climbed 21% to HK$51.7 billion.

TREE NEWS update: Hong Kong’s Acting Secretary for Financial Services and the Treasury, Joseph Chan, said authorities will take appropriate enforcement action against payment platforms operating without a financial licence, as needed to maintain financial stability and protect customers. Under the Payment Systems and Stored Value Facilities Ordinance, issuing or operating a stored value facility in Hong Kong without a licence is illegal unless legally exempt. The HKMA will intervene directly in suspected unlicensed cases and may refer them to law enforcement.

TREE NEWS update: The UK Foreign, Commonwealth and Development Office announced a new round of sanctions on Russia on the 8th, targeting the country’s financial services sector and its so-called “shadow fleet.” The measures were announced by the department responsible for Britain’s foreign and development policy. Further details of the designations were not specified in the announcement.

TREE NEWS update: The Council of the European Union extended its sanctions on certain Russia-linked individuals and entities by one year, to October 9, 2027, it announced on October 8. The measures currently cover 80 individuals and 20 entities, and include travel restrictions, asset freezes, and a ban on making funds or other economic resources available to those listed.

TREE NEWS update: China’s State Administration for Market Regulation said it has handled 14,000 cases as part of a special campaign against false advertising in online food sales, with enforcement stepped up over the National Day holiday. Regulators told local bureaus to focus on seasonal foods, viral influencer products and health foods sold online, taking a zero-tolerance approach to misleading claims and consumer deception.

TREE NEWS update: The US government transferred 9,261 Bitcoin, worth roughly $770 million, to Coinbase Prime, including 2,456 BTC in newly discovered funds tied to federal law enforcement seizures. The move puts the seized coins in the custody of the exchange’s institutional prime brokerage arm. No sale of the Bitcoin has been announced.

TREE NEWS update: Nanjing Wavelength Optics said it and four individuals, including chairman Huang Shengdi, have been indicted by the Shanghai People’s Procuratorate’s Third Branch on suspicion of smuggling goods banned from import and export. Prosecutors allege that between August 2023 and April 2025 the company exported optical lenses without the required dual-use export licences, with the goods valued at 20.1085 million yuan. The case has been filed with the Shanghai Third Intermediate People’s Court.

TREE NEWS update: Europol published two quantum computing reports on Wednesday, saying cryptocurrencies will not collapse but need a phased move to post-quantum cryptography. The agency urged crypto wallet providers to start testing post-quantum upgrades now rather than waiting for quantum threats to materialize.

TREE NEWS update: Greece has drafted a bill setting a 10% capital gains tax on crypto, lowered from the 15% rate floated in June, with the first €500 of annual gains exempt. The proposal lands as crypto tax rates across Europe range from 8% in Cyprus to 33% in Italy.

TREE NEWS update: The People’s Bank of China issued a policy statement on the yuan exchange rate, saying global economic imbalances stem from the evolution of industrial division of labor, inherent contradictions in the international monetary system and gaps between national investment and savings, and are not the unilateral responsibility of surplus or deficit countries. Deficit nations should pursue fiscal consolidation and raise savings rates and competitiveness, while surplus nations should boost consumption and investment. The PBOC said attributing complex structural issues solely to the yuan is a political maneuver under protectionism and unilateralism.

TREE NEWS update: Suzhou Everbright Photonics said a Morgan Stanley research memo on a possible FCC Covered List restricting 3.2T optical modules is not a formal FCC rule, but oral information gathered from policy discussions and still subject to debate. The note, which said modules would need 65% of BOM value from US companies, triggered a sharp selloff in China’s A-share optical communications sector on October 8, with several stocks hitting the daily limit down.

TREE NEWS update: The People’s Bank of China said countries should set medium- and long-term policy plans, make clear commitments and execute them firmly, avoiding back-and-forth “flip-flopping” on policy. In its policy stance on the yuan, the central bank said trying to fix global economic structural problems within one to two years is unrealistic, and abrupt short-term shifts can backfire. It cited the 2025 global tariff war, which triggered import front-running, worsened imbalances and hurt global growth.

TREE NEWS update: The People’s Bank of China has set out its policy stance on the renminbi exchange rate, saying the currency’s level is a key financial-market price that has long drawn attention from all sides and has been discussed more frequently of late. The central bank’s position was stated in a release clarifying its stance on the yuan.

TREE NEWS update: The European Securities and Markets Authority has urged crypto firms in the EU to stop offering services involving stablecoins that do not comply with MiCA, giving national regulators three months to address existing exposures. The directive sets a deadline for firms to wind down services tied to non-compliant tokens.

TREE NEWS update: A Chinese court on October 8, 2026 sentenced Xu Chuanzhi, a former deputy ministerial-level inspector of the Central Inspection Team, to 12 years in prison and a fine of 2.5 million yuan in a first-instance ruling, CCTV reported. The Ningbo Intermediate People’s Court in Zhejiang convicted him of bribery and bribery by influence, handing down 10 years and six months plus a 1 million yuan fine on the first charge and five years plus a 1.5 million yuan fine on the second. Seized criminal proceeds and interest will be turned over to the state treasury, with shortfalls to be recovered.

TREE NEWS update: Hong Kong’s Securities and Futures Commission, the Accounting and Financial Reporting Council and the Stock Exchange of Hong Kong issued a joint statement on the growing number of listed issuers receiving disclaimer opinions on financial statements solely due to going-concern issues. The three bodies will keep monitoring the situation and take regulatory, disciplinary or enforcement action if misconduct or breaches are found. If conditions do not improve significantly, the exchange will consider amending the Listing Rules, including suspending trading in issuers whose statements carry such disclaimers.

TREE NEWS update: Shanghai added 13 generative AI services to its registry of completed filings, bringing the city’s cumulative total to 253 registered generative AI services. The update was announced by the Shanghai cyberspace administration. China requires generative AI providers to complete registration before offering services to the public.

TREE NEWS update: Beijing’s municipal radio and television bureau issued measures to support high-quality development of the ultra-high-definition audiovisual industry, including credit financing, operating-cost subsidies and listing cultivation for eligible firms. The policy encourages listings on the domestic main board, STAR Market, ChiNext and Beijing Stock Exchange, and supports establishing a Beijing UHD industry investment fund.