TRUMP SAYS ON IRAN: WE COULD KNOCK OUT OIL ON KHARG ISLAND

BRENT CRUDE FUTURES SETTLE AT $103.42/BBL, UP $3.21, 3.2 PCT

Hong Kong’s financial sector faces mounting regulatory pressure, threatening a slowdown in its booming IPO market. Beijing is restricting certain offshore-incorporated Chinese firms from listing, challenging a decades-old fundraising model. Banks are reassessing strategies, with some slowing activity as caution replaces prior optimism. Authorities intensified oversight with the largest raids in nearly a decade, including eight arrests for insider trading and bribery. Industry leaders warn banks must be selective, shifting from a volume-driven approach. The crackdown highlights heightened scrutiny, with global firms adjusting to stricter rules and a more challenging environment for Hong Kong’s role as Asia’s top fundraising hub.