IPO Watch: Moonshot AI has filed confidentially for a Hong Kong listing, aiming to raise about $3 billion at roughly a $50 billion valuation, as it looks to fund rapid expansion of its Kimi K3 business. Market Access: Baidu’s Hong Kong shares have been added to Stock Connect, letting mainland investors buy from Sept. 7 and boosting liquidity after Baidu’s dual-primary conversion. Regulatory Scrutiny: Hong Kong’s securities regulator raided Huatai Financial Holdings (HK) over suspected insider-trading tied to U.S. options activity, following earlier cross-border brokerage concerns. Cybersecurity & Compliance: Hong Kong’s critical infrastructure cybersecurity regime is moving into implementation, with new codes of practice guiding risk assessments, audits and incident reporting under the PCICSO. Legal & Civil Society: Hong Kong’s Court of Appeal upheld convictions of Cardinal Zen and trustees tied to the 612 Humanitarian Fund, reinforcing the pressure on civic groups under colonial-era societies rules. Business Climate: Hong Kong’s retail sales extended growth in July, while the city also pushed mega-event investment and innovation clusters to support demand and tech momentum. Global Trade/Finance: U.S. sanctions targeted a Turkish bank over alleged Iran-linked transactions, underscoring how secondary sanctions keep tightening. Aviation & Travel: Air Canada will add nonstop Vancouver–Guangzhou from May next year, expanding its Asia-Pacific network. Tech & Industry: China’s chip push and Moonshot’s IPO ambitions highlight how export controls and homegrown AI are reshaping global competition.