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Dec 11, 2023 • 4 min read

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SpaceX:

Tonight, SpaceX is set to launch the USSF-52 mission using its Falcon Heavy rocket from NASA’s Kennedy Space Center. This launch is particularly notable due to the inclusion of the X-37B Orbital Test Vehicle, a highly secretive project operated by the United States Space Force. The Falcon Heavy's reusable side boosters, are planned to return to SpaceX’s landing zones in Florida following the launch.
The X-37B, a key element of the USSF-52 mission, is an unmanned spaceplane that facilitates the testing of new space technologies. Its design supports autonomous launching and landing capabilities and it's designed to execute prolonged missions in low Earth orbit. While the specifics of its payloads are classified, the X-37B is known for conducting experiments in propulsion systems and advanced materials, among other technologies.
The aura of secrecy around the X-37B’s missions and payload contributes to speculation about its potential military applications. Its design for flexibility and autonomous operation makes it a crucial asset for diverse experimental missions, driving forward the field of space exploration and technology. SpaceX's involvement in deploying such missions showcases the continual progress and exploration in space technology, with each mission bringing potential new discoveries and advancements.

Hong Kong Markets:

Hong Kong's stock market, valued at $4.6 trillion, is experiencing a significant downturn, leading to the closure of many local brokerages. In 2022, a record 49 brokerages shut down, and this year, 30 more have followed suit. This decline is concurrent with layoffs at major Wall Street banks, attributed to a significant drop in initial public offerings. The Hang Seng Index is on track for its fourth consecutive year of losses, marking its longest streak of decline. The index recently hit a one-year low, with average daily trading volumes falling 14% below the five-year average. This year's IPO market is the slowest since 2001.
The ongoing market slump and job cuts are raising concerns about Hong Kong's future as Asia's leading international finance hub. This comes in the aftermath of the city's strict pandemic measures and the implementation of Beijing's national security legislation. Edmond Hui, CEO of Bright Smart Securities in Hong Kong, described the current situation as the worst he has witnessed, highlighting the struggle for liquidity in the market.
Smaller brokerages, which primarily rely on trading commissions and margin businesses for revenue, are most affected by the downturn. A survey by the Hong Kong Securities Association earlier in the year revealed that over 72% of local brokers reported losses last year, with about a quarter planning to reduce their operations in response to the challenging market conditions.

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