Latest news with #HongKong-based
Fashion United
16 hours ago
- Business
- Fashion United
Halara plots UK expansion and pop-up experience
Halara has its eyes on the UK. The Singapore-headquartered athleisure brand has revealed plans to expand to the region through a pop-up experience set to be hosted later this year. The physical retail space, which will open alongside the launch of an app and online platform, will incorporate the brand's 'digital-first, community-driven model', a press release said. Halara's intention is to 'deliver a more responsive, inclusive athleisure experience for UK consumers'. Founded in 2020 by Hong Kong-based entrepreneur Joyce Zhang, Halara has built up a global audience largely thanks to its presence on the social media platform, TikTok. Here, its content revolves around relatable videos and creator partnerships, the latter an integral part of the brand's existence, as influencers represent a large part of the brand's wider marketing framework. On the back of what it said has been a 'rapid rise', the brand is now looking to venture into new realms. Its plans to enter the UK market follows a similar announcement from earlier in the year when it revealed Australia as one of the regions it was targeting. In the US, meanwhile, where it already boasts a strong foothold, the brand has already explored the physical retail space via pop-ups, the first being in New York City in 2024 and, more recently, two in California.
Business Times
20 hours ago
- Business
- Business Times
Singapore stocks sink on Thursday after Powell signals higher inflation; STI down 0.7%
[SINGAPORE] Local shares fell for a second consecutive session on Thursday (Jun 19), after US Federal Reserve chair Jerome Powell warned of 'meaningful' inflation ahead, as consumers are expected to face higher prices due to the Trump administration's proposed import tariffs. He also cautioned against placing too much confidence in the current outlook for rate cuts. The benchmark Straits Times Index (STI) lost 0.7 per cent or 26.63 points to close at 3,894.18. Across the broader market, decliners outnumbered advancers 315 to 167, with 981.1 million securities worth S$933.2 million changing hands. The top performer on the Straits Times Index (STI) was Hong Kong-based conglomerate Jardine Matheson Holdings , up 0.9 per cent or US$0.43 at US$46.26. At the other end of the index was Thai Beverage , the maker of Chang beer. The counter declined 3.2 per cent or S$0.015 to close at S$0.45. The trio of local banks were in the red. DBS was down 0.7 per cent or S$0.30 at S$43.93, OCBC declined 0.3 per cent or S$0.05 to S$15.99 and UOB closed 0.3 per cent or S$0.12 lower at S$34.71. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Elsewhere in the region, key indices ended mostly lower on Thursday, after the US Federal Open Market Committee (FOMC) left the benchmark interest rate unchanged at 4.25 to 4.5 per cent, citing a strong labour market and reduced uncertainty in the economic outlook. Japan's Nikkei 225 fell 1 per cent and the FTSE Bursa Malaysia KLCI declined 0.7 per cent. Australia's ASX 200 slipped 0.1 per cent and Hong Kong's Hang Seng tumbled 2 per cent. South Korea's Kospi bucked the trend, closing 0.2 per cent higher. Suan Teck Kin, head of research at UOB Global Economics & Markets Research, said the research team is still projecting for three 25-basis-point rate cuts in 2025, to be delivered at the September, October and December FOMC meetings. This would bring the upper bound of the Fed Funds Target Rate (FFTR) to 3.75 per cent by the end of 2025. He added that the team is also maintaining its forecast for two additional rate cuts in 2026, which would lower the terminal FFTR to 3.25 per cent that year. 'The revised 'dot plot' suggests the Fed will still cut rates two times this year, unchanged from its March outlook, though the June version shows more dispersion among the Fed members, as a result of the elevated uncertainty,' said Suan.
HKFP
a day ago
- Business
- HKFP
Meta sues Hong Kong-based company behind AI deepfake app that creates fake nude images
US social media giant Meta has sued the Hong Kong-based company behind an app that uses artificial intelligence to create fake nude images of people without their consent, seeking to stop the firm from advertising the app on Meta platforms. Meta said last Thursday that it had filed the complaint against Joy Timeline HK Limited, the maker of the CrushAI app, amid what it called a 'concerning growth of so-called 'nudify' apps online.' Joy Timeline HK Limited allegedly violated Meta's rules by running CrushAI ads with at least 170 business accounts it created on Meta-owned Facebook and Instagram, CNN said citing the complaint filed to the District Court. Some of the ads included AI-generated nude or sexually explicit images with captions such as 'upload a photo to strip for a minute' and 'erase any clothes on girls,' according to CNN. Now, the tech giant is seeking an injunction to restrain the Hong Kong firm 'from creating, sharing, publishing, disseminating or contributing to the publication' of such advertisements on its platforms, media outlets reported. The order would target any content relating to apps designed to generate AI or deepfake images containing nudity or NCII [non-consensual intimate image sharing] elements. The tech giant is also seeking to claim back the US$289,200 (HK$2.28 million) it said it spent to take down, monitor, and investigate the ads that the Hong Kong company had allegedly bought since September 2023, The Witness reported. Meta said in a statement last week that its lawsuit 'follows multiple attempts by Joy Timeline HK Limited to circumvent Meta's ad review process and continue placing these ads, after they were repeatedly removed for breaking our rules.' 'This legal action underscores both the seriousness with which we take this abuse and our commitment to doing all we can to protect our community from it,' it said. Per its policies, Meta removes ads and Facebook and Instagram pages promoting so-called 'nudify' apps, blocks links on its platforms, and restricts related search terms so that AI-generated non-consensual sexually explicit images are not circulated, it added in its statement. Meta said its lawsuit is part of broader action against these apps. 'We're building new technology to detect ads for nudify apps and sharing signals about these apps with other tech companies so they can take action too,' it said. LATEST FROM HKFP 3 Hong Kong universities move up in QS top 50 rankings, with HKU jumping to 11th place Beijing official praises Hong Kong leader for 'positive progress' in boosting economy, improving people's livelihoods Blanket measure to halt imported labour schemes when unemployment hits 'red line' is 'inappropriate,' minister says Hong Kong doctor to be sentenced in July for issuing over 6,600 false Covid-19 vaccine exemptions
Yahoo
a day ago
- Business
- Yahoo
The 46,000% Biotech Rocket: How a No-Revenue Stock Hit $30 Billion
Regencell (NASDAQ:RGC) has pulled off one of the most surreal runs in market memory soaring over 46,000% year-to-date, catapulting from a $53 million microcap to a nearly $30 billion juggernaut. The Hong Kong-based biotech, which listed on Nasdaq in 2021, specializes in traditional Chinese medicine aimed at treating neurological disorders and COVID-19. And yet, it hasn't generated a single dollar in revenue since inception. Earlier this month, the company executed a 38-for-1 stock split a move that sent shares up 283% in one day and triggered more than 10 trading halts. The stock's tiny float and frenzied momentum may be doing more heavy lifting than anything on the balance sheet. Warning! GuruFocus has detected 2 Warning Signs with RGC. Regencell's formula is rooted in herbal compounds "no synthetic ingredients," the company says targeting conditions like ADHD and autism. It also claimed its therapy reduced COVID symptoms in six days during a 2022 trial, though the results haven't been peer-reviewed. The firm itself has acknowledged it hasn't filed for regulatory approval, holds no patents, and has no distribution channels. It ended its last fiscal year with a $4.4 million net loss and continues to fund operations largely through shareholder loans and IPO proceeds. Still, the company's narrative natural medicine meets neurological care has attracted a wave of speculative attention. Like many early-stage biotech firms, Regencell is bleeding cash but it's doing so with a surprisingly thick cushion. As shown in the chart below, the company raised a sizable cash pile from 2022 through 2024, even as its debt levels remained relatively modest. This financial buffer may be buying Regencell time to run trials and fund operations while retail traders do the rest. What's possibly fueling this rocket? Just 6% of Regencell's 500 million shares are available for trading. The rest 86% is held by insiders, mostly CEO Yat-Gai Au. That ultra-low float dynamic can turbocharge even modest demand into massive price moves. For investors, this is either a once-in-a-decade asymmetrical upside or a gravity-defying bubble waiting to reset. With no news, no revenue, and no roadmap from management, the Regencell frenzy raises more questions than answers but for now, the market can't seem to look away. This article first appeared on GuruFocus.
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Business Standard
a day ago
- Business
- Business Standard
Herbal medicine firm Regencell Bioscience skyrockets 60,000%, stuns market
A Hong Kong-based company with no revenue, no regulatory approvals, and fewer than 15 employees has seen its stock surge nearly 60,000 per cent year-to-date on June 16, 2025. Traditional medicine firm Regencell Bioscience Holdings, listed on the US stock exchange, has rallied sharply in recent days, including a nearly fourfold jump in a week, stunning market watchers and prompting questions over the nature of the gains and what might be driving them. Regencell Bioscience was founded in 2014 and incorporated in the Cayman Islands, though its operations are run through two subsidiaries based in Hong Kong. It went public on the Nasdaq in July 2021, raising approximately $21 million through its initial public offering. Screengrab of Regencell Bioscience stock movement Regencell Bioscience company profile: What we know The company develops liquid-based formulas rooted in traditional Chinese medicine (TCM), which it claims can help manage neurological conditions such as Attention Deficit Hyperactivity Disorder (ADHD) and Autism Spectrum Disorder (ASD). These are proprietary blends made from natural ingredients and are still undergoing internal trials. No regulatory approvals have been secured, and the company has not launched any commercial products. Despite this, the company is now worth more on paper than many established global companies. Regencell reported a combined loss of $10.4 million over the last two financial years and has yet to generate any revenue. The company employs a small team of around 12 people. The company's founder and chief executive officer, Yat-Gai Au, owns approximately 86 per cent of the outstanding shares, effectively controlling the company. Track LIVE Stock Market Updates How a stock split led to a sudden surge The rise in Regencell's share price appears to have been triggered by a 38-for-1 stock split, which came into effect in early June. While such splits do not impact a company's fundamental valuation, they can generate interest by lowering the per-share price. Following the split, Regencell's share price jumped 283 per cent in a single day, briefly pushing its market capitalisation close to $39 billion, higher than companies such as Kraft Heinz and Reddit. The stock rallied despite the absence of new business developments, product announcements, or regulatory progress. Much of the activity appears speculative, with discussion on retail investor forums such as Reddit fuelling interest in Regencell as a so-called 'meme stock'. The situation stands as an example of how low-float stocks can spiral out of control in speculative markets. Why the stock may have risen? Beyond the stock split, several factors may have contributed to Regencell's rise. Only 30 million of the company's 500 million shares are publicly traded. That means even small spikes in demand can move the price dramatically. The tightly held structure, with most shares owned by the founder and a small group of investors, makes the stock susceptible to volatility. There may also be a broader sentiment at play. US interest in natural health may have played a role The surge coincided with renewed debate in the United States around vaccine alternatives and natural health remedies, including comments by public figures questioning conventional immunisation practices. Regencell's positioning as a traditional medicine company, despite making no claims in this space, may have drawn attention from retail traders looking for exposure to alternative healthcare options. What does this soaring valuation mean for Regencell? A market capitalisation of $39 billion for a firm with under 15 employees has raised eyebrows across the financial community. Despite its massive paper valuation, Regencell remains an early-stage company with no commercial revenue and limited operational capacity. Regulatory warnings have already flagged this type of activity. The Financial Industry Regulatory Authority (FINRA) and the US Securities and Exchange Commission have cautioned investors about small-cap foreign stocks with limited free float being vulnerable to manipulation. Alternative medicine market on the rise Globally, interest in traditional and alternative medicine is rising. The complementary and alternative medicine (CAM) market was valued at $178.5 billion in 2024 and is projected to reach $919.5 billion by 2034, growing at a compound annual growth rate of 17.9 per cent, according to Global Market Insights, driven by rising demand for holistic, non-invasive, and natural health solutions. Market research also expects China's TCM industry, valued at $19.5 billion in 2022, to reach nearly $48 billion by 2030. Policy support and public interest in wellness products have driven sustained growth. However, stock surges in the sector have typically followed regulatory decisions or mergers, and have not approached the scale seen in Regencell's case. Ayurveda market grows with demand In India, the Ayurveda and herbal health segment has also expanded rapidly, supported by both government backing and rising consumer demand. The domestic market is projected to grow to ₹36 trillion by 2033 from ₹8.76 trillion in 2024, according to research shared by Imarc Group. Listed companies such as Dabur and Kerala Ayurveda have delivered strong financial performances, driven by product demand and retail penetration. Unlike Regencell, their valuations have been more closely tied to business metrics. As of Wednesday, June 18, the stock had dropped 18 per cent in intraday trading to $63.35 on Nasdaq, but it was still up 48,630.77 per cent year-to-date.
