News Snapshot:
Hong Kong-based fintech firms AMTD Digital, Magic Empire Global and Top Financial Group tumbled on Tuesday after a meteoric rally this month that was reminiscent of last year's meme-stock frenzy. The obscure companies have recorded eye-watering gains just days after their U.S. market debuts, with AMTD Digital climbing to as high as US$2,555.30 last week from its debut price of US$7.80 in July. At its peak, the company's market valuation dwarfed that of Facebook-owner Meta Platforms. On Tuesday, AMTD Digital was down 45per cent at US$221. Online brokerage Top Financial was trading 14per cent lower at US$17.70, a day after...
