Bloomberg The resurgent Hong Kong dollar has pushed closer to the strong half of its trading band, amid a spike in local funding costs that has upended crowded bets on shorting the currency. The Hong Kong dollar saw its biggest intraday rise in three years on Monday to as high as 7.8004 per dollar, bringing its gain for November …

  Bloomberg Bank of New York Mellon’s Frankfurt offices are being raided by Cologne prosecutors as part of their vast investigation into the controversial Cum-Ex scandal that has increasingly ensnared Wall Street’s biggest banks. The raid began on Tuesday, people familiar with the process said. A spokesman for Cologne prosecutors said searches at two unidentified banks started and included the …

  Bloomberg The world’s biggest stock-market slump is testing the resolve of Vietnam’s investing masses. A government crackdown on real estate companies, corruption probes and tightening credit have pushed the benchmark VN Index down 36% this year in the world’s worst performance, led by banks and property firms. While some foreign investors see a buying opportunity, the crisis is punishing …