Japanese yen sinks to record low against euro

The Japanese yen hit a level of 173 yen per euro on Tokyo's foreign exchange markets on Monday.

It marked the yen's lowest level against euro since the European currency was introduced in 1999.

The downgrade to Japan's economic growth figures this year resulted in the struggling yen, according to analysts.

The Hong Kong Special Administrative Region (HKSAR) staged a spectacular fireworks display on Thursday to celebrate the 77th anniversary of the founding of the People's Republic of China, bringing together local residents and tourists from home and abroad to share the festive joy.

On Thursday evening, crowds packed both sides of the Victoria Harbor to watch an eight-part fireworks show.

The 23-minute spectacle featured 31,888 fireworks shells, offering an audiovisual feast that expressed collective wishes for the country's prosperity and peace. Set to majestic music, green and blue fireworks lit up the night sky in an ode to the nation's landscapes, while golden rings resembling intersecting orbits showcased cosmic wonders.

Awestruck crowds cheered and recorded the display, with many lingering afterward to stroll, take more photos, and basked in the jubilant mood.

The grand spectacle resonated deeply across Hong Kong's business and financial sectors, inspiring strong confidence in the future of both the country and the region.

"This fireworks display not only showcases the prosperity of our country but also embodies our shared wishes for Hong Kong's continued development and brilliance. We hope this grand event will gather positive energy in society and present Hong Kong's unique charm to the world. Tonight's dazzling fireworks illuminate the Victoria Harbor sky and consolidate everyone's blessings for the motherland and Hong Kong, which makes me extremely excited," said Clement Lam, Chief Executive Officer of Sun Life Hong Kong Limited.

"We believe that with the country's support, Hong Kong will continue to leverage its unique advantage of enjoying the backing of the motherland and being open to the world, creating more opportunities in finance, innovation, technology, and talent development. We are fully confident in Hong Kong's future. We sincerely wish our motherland enduring prosperity and its people well-being, and we wish all citizens a happy life as we work together to build a better Hong Kong," said Christine Yeung, deputy chief executive officer of Life and Health at Sun Life Hong Kong Limited.

The fireworks show was one episode of the city's day-long National Day celebrations, which started with a flag-raising ceremony and a reception hosted by the HKSAR government in the morning.