Cryptocurrency prices have not spiked up although US presidential candidate Donald Trump said he would pick regulators friendly to the sector

That comes as Bright Smart Securities & Commodities (1428) founder Peter Yip Mow-lum said he expected the Hang Seng Index to struggle between 17,000 and 18

Cryptocurrency prices remained largely flat on Sunday, despite US presidential candidate Donald Trump saying he would choose regulators who are friendly to the sector.

That comes as Bright Smart Securities & Commodities (1428) founder Peter Yip Mow-lum said he expected the Hang Seng Index to struggle between 17,000 and 18,000 points by the end of this year.

Trump told a bitcoin conference on Saturday that he would fire the Securities and Exchange Commission chairman and choose crypto-friendly regulators if he is elected in a bid to court the sector and harness its growing influence.

Bitcoin was down 0.25 per cent at one stage to US$67,727 (HK$528,270) apiece on Sunday.

Meanwhile, China Evergrande New Energy Vehicle Group (0708) said two of its Guangdong subsidiaries were the target of bankruptcy and reorganization applications by creditors, which could have a “material impact” on production and operations.

Fuyao Glass Industry Group (3606) said US agencies searched its Ohio subsidiary on July 26 as part of an ongoing probe into a third-party labor services company.

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