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Christie's to Open New Hong Kong HQ, Sees Growing Asian Gen Z Interest

People watch the sunset over Victoria Harbour from a mountaintop in Hong Kong, China March 12, 2024. REUTERS/Tyrone Siu/File Photo
People watch the sunset over Victoria Harbour from a mountaintop in Hong Kong, China March 12, 2024. REUTERS/Tyrone Siu/File Photo
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Christie's to Open New Hong Kong HQ, Sees Growing Asian Gen Z Interest

People watch the sunset over Victoria Harbour from a mountaintop in Hong Kong, China March 12, 2024. REUTERS/Tyrone Siu/File Photo
People watch the sunset over Victoria Harbour from a mountaintop in Hong Kong, China March 12, 2024. REUTERS/Tyrone Siu/File Photo

Auction house Christie's hopes its new 50,000-sq-ft Asia headquarters that opens in Hong Kong in September will boost sales in 2024 amid increased interest across the region from a new generation of culturally astute millennials and younger.
Francis Belin, Christie's Asia-Pacific president, said he is "cautiously optimistic" about sales in the region as they try to engage with clients with the right products, right price and "exciting" events, Reuters said.
"We think we'll continue to see a market in 2024 which is not as booming as in 2021, but it's one that we can navigate if we do the right thing like we did in 2023," Belin told Reuters on Monday.
Total auction sales in the Asia-Pacific region eased 4% to $805 million last year from 2022, contributing 28% to the group's total. The sales decline compared to 43% and 9% drops in Americas and EMEA (Europe, Middle East, Africa), respectively.
Greater China accounted for 80% of Asia-Pacific sales.
Christie's also saw a surge in new buyers among millennials, born between 1981 to 1996, and Gen Z, born since 1997. It said Asia-Pacific accounted for 66% of its global millennial buyers last year, and more than half of them were from mainland China. Gen Z buyers from Asia-Pacific also more than doubled.
Belin said the auction house had started to see a surge in buying from young Chinese collectors for Chinese works of art and paintings over the past three years, rising from a few percentage points to up to 20% now, thanks to the company's increasingly use of Chinese social media apps such as Wechat and Xiaohongshu.
"So you find collectors at the depth of collecting, not just the hip, new artist, but that goes back to their cultural roots. That's meaningful for them and their culture," Belin said.
The market was slower last year because collectors were not convinced it was the best time to sell, he added.
The auction house will open its new Asia-Pacific headquarters at The Henderson, a new office tower in Hong Kong's prime Central district, in September. Christie's four floors in the building, which is being designed by Zaha Hadid Architects and developed by Henderson Land, will launch a three-month program of sales, exhibitions and events until November.
Belin shrugged off the impact of new national security laws that the Hong Kong government has imposed on the city, saying the financial hub still has a free flow of capital and rule of law.
He said he recognised the Hong Kong government's efforts in developing the city's arts and culture by hosting international events and building the West Kowloon Cultural District, which overlooks Victoria Harbour.
"Hong Kong will be able to rebuild itself; art and culture is part of it."
The Knight Frank Luxury Investment Index (KFLII), which tracks the performance of 10 popular investments of passion, showed that art was the best-performing luxury asset class in 2023, followed by jewelry, with prices rising 11% and 8%, respectively.
Knight Frank said in a report last week clients in Hong Kong allocate 19% of their investment portfolio to luxury investments, in line with the global average.

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Rocket Re-entry Pollution Measured in Atmosphere for 1st Time

A SpaceX Falcon 9 rocket with the company's Dragon spacecraft on top launches from Space Launch Complex 40 for the Crew-12 mission at Cape Canaveral Space Force Station in Florida on February 13, 2026. (Photo by Jim WATSON / AFP)
A SpaceX Falcon 9 rocket with the company's Dragon spacecraft on top launches from Space Launch Complex 40 for the Crew-12 mission at Cape Canaveral Space Force Station in Florida on February 13, 2026. (Photo by Jim WATSON / AFP)
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Rocket Re-entry Pollution Measured in Atmosphere for 1st Time

A SpaceX Falcon 9 rocket with the company's Dragon spacecraft on top launches from Space Launch Complex 40 for the Crew-12 mission at Cape Canaveral Space Force Station in Florida on February 13, 2026. (Photo by Jim WATSON / AFP)
A SpaceX Falcon 9 rocket with the company's Dragon spacecraft on top launches from Space Launch Complex 40 for the Crew-12 mission at Cape Canaveral Space Force Station in Florida on February 13, 2026. (Photo by Jim WATSON / AFP)

When part of a SpaceX rocket re-entered Earth's atmosphere exactly a year ago, it created a spectacular fireball that streaked across Europe's skies, delighting stargazers and sending a team of scientists rushing towards their instruments.

The German team managed to measure the pollution the rocket's upper stage emitted in our planet's difficult-to-study upper atmosphere -- the first time this has been achieved, according to a study published on Thursday.

It is vital to learn more about this little-understood form of pollution because of the huge number of satellites that are planned to be launched in the coming years, the scientists emphasized.

In the early hours of February 19, 2025, the upper stage of a Falcon 9 rocket was tumbling back to Earth when it exploded into a fireball that made headlines from the UK to Poland.

"We were excited to try and test our equipment and hopefully measure the debris trail," the team led by Robin Wing and Gerd Baumgarten of the Leibniz Institute of Atmospheric Physics in Germany told AFP via email.

In particular, the scientists wanted to measure how the rocket polluted what they call the "ignorosphere" -- because it is so difficult to study.

This region between 50 to 100 kilometers (31 to 62 miles) above Earth includes the mesosphere and part of the lower thermosphere.

- 'Harbinger' -

The team used technology called LIDAR, which measures pollution in the atmosphere by shooting out lots of laser pulses and seeing which bounce back off something.

They detected a sudden spike in the metal lithium in an area nearly 100 kilometers above Earth. This plume had 10 times more lithium than is normal in this part of the atmosphere.

The team then traced the plume back to where the rocket re-entered the atmosphere, west of Ireland.

For the first time, this proves it is possible to study pollution from re-entering rockets at such heights before it disperses, the scientists said.

But the impact from this rocket pollution remains unknown.

"What we do know is that one ton of emissions at 75 kilometers (altitude) is equivalent to 100,000 tons at the surface," they said.

The study warned the case was a "harbinger" of the pollution to come, given how many rockets will be needed to launch all the satellites that Earth is planning to blast into space.

Currently, there are around 14,000 active satellites orbiting our planet.
In the middle of last month, China applied for permission to launch around 200,000 satellites into orbit.

Then at the end of January, billionaire Elon Musk's SpaceX applied for permission to launch one million more.

Eloise Marais, a professor of atmospheric chemistry at University College London not involved in the new study, told AFP the research was "really important".

"There is currently no suitable regulation targeting pollution input into the upper layers of the atmosphere," she explained.

"Even though these portions of the atmosphere are far from us, they have potentially consequential impacts to life on Earth if the pollutants produced are able to affect Earth's climate and deplete ozone in the layer protecting us from harmful UV radiation."

The study was published in the journal Communications Earth & Environment.

Varieties

Deep-sea Fish Break the Mold with Novel Visual System

A close-up showing the shiny silver-green photophores (light organs) on the lower head of the deep-sea fish Maurolicus muelleri from the Red Sea, seen in this photograph released on February 11, 2026. Dr. Wen-Sung Chung/Handout via REUTERS
A close-up showing the shiny silver-green photophores (light organs) on the lower head of the deep-sea fish Maurolicus muelleri from the Red Sea, seen in this photograph released on February 11, 2026. Dr. Wen-Sung Chung/Handout via REUTERS
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Deep-sea Fish Break the Mold with Novel Visual System

A close-up showing the shiny silver-green photophores (light organs) on the lower head of the deep-sea fish Maurolicus muelleri from the Red Sea, seen in this photograph released on February 11, 2026. Dr. Wen-Sung Chung/Handout via REUTERS
A close-up showing the shiny silver-green photophores (light organs) on the lower head of the deep-sea fish Maurolicus muelleri from the Red Sea, seen in this photograph released on February 11, 2026. Dr. Wen-Sung Chung/Handout via REUTERS

For more than a century, biology textbooks have stated that vision among vertebrates - people included - is built from two clearly defined cell types: rods for processing dim light and cones for bright light and color. New research involving deep-sea fish shows this tidy division is, in reality, not so tidy.

Scientists have identified a new type of visual cell in deep-sea fish that blends the shape and form of rods with the molecular machinery and genes of cones. This hybrid type of cell, adapted for sight in gloomy light conditions, was found in larvae of three deep-sea fish species in the Red Sea, Reuters reported.

The species studied were: a hatchetfish, with the scientific name Maurolicus mucronatus; a lightfish, named Vinciguerria mabahiss; and a lanternfish, named Benthosema pterotum. The hatchetfish retained the hybrid cells throughout its life. The other two shifted to the usual rod-cone dichotomy in adulthood.

All three are small, with adults measuring roughly 1-3 inches (3-7 cm) long and the larvae much littler. They inhabit a marine realm of twilight conditions, with sunlight struggling to penetrate into the watery depths.

The vertebrate retina, a sensory membrane at the back of the eye that detects light and converts it into signals to the brain, possesses two main types of light-sensitive visual cells, called photoreceptors. They are named for their shape: rods and cones.

"The rods and cones slowly change position inside the retina when moving between dim and bright conditions, which is why our eyes take time to adjust when we flick on the light switch on our way to the restroom at night," said Lily Fogg, a postdoctoral researcher in marine biology at the University of Helsinki in Finland and lead author of the research published in the journal Science Advances.

"We found that, as larvae, these deep-sea fish mostly use a mix-and-match type of hybrid photoreceptor. These cells look like rods - long, cylindrical and optimized to catch as many light particles - photons - as possible. But they use the molecular machinery of cones, switching on genes usually found only in cones," Fogg said.

The researchers examined the retinas of fish larvae caught at depths from 65 to 650 feet (20 to 200 meters). In the type of dim environment they inhabit, rod and cone cells both are usually engaged in the vertebrate retina, but neither works very well. These fish display an evolutionary remedy.

"Our results challenge the longstanding idea that rods and cones are two fixed, clearly separated cell types. Instead, we show that photoreceptors can blend structural and molecular features in unexpected ways. This suggests that vertebrate visual systems are more flexible and evolutionarily adaptable than previously thought," Fogg said.

"It is a very cool finding that shows that biology does not fit neatly into boxes," said study senior author Fabio Cortesi, a marine biologist and neuroscientist at the University of Queensland in Australia. "I wouldn't be surprised if we find these cells are much more common across all vertebrates, including terrestrial species."

All three species emit bioluminescence using small light-emitting organs on their bodies, mostly located on the belly. They produce blue-green light that blends with the faint background light from the sun above. This strategy, called counterillumination, is a common form of camouflage in the deep sea to avoid predators.

"Small fish like these fuel the open ocean. They are plentiful and serve as food for many larger predatory fishes, including tuna and marlin, marine mammals such as dolphins and whales, and marine birds," Cortesi said.

These kinds of fish also engage in one of the biggest daily migrations in the animal kingdom. They swim near the surface at night to feed in plankton-rich waters, then return to the depths - 650 to 3,280 feet (200 to 1,000 meters) - during daytime to avoid predation.

"The deep sea remains a frontier for human exploration, a mystery box with the potential for significant discoveries," Cortesi said. "We should look after this habitat with the utmost care to make sure future generations can continue to marvel at its wonders."

Varieties

Japan City Gets $3.6 Mn Donation in Gold to Fix Water System

FILE PHOTO: Factories line the port of Osaka, western Japan October 23, 2017. REUTERS/Thomas White/File Photo
FILE PHOTO: Factories line the port of Osaka, western Japan October 23, 2017. REUTERS/Thomas White/File Photo
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Japan City Gets $3.6 Mn Donation in Gold to Fix Water System

FILE PHOTO: Factories line the port of Osaka, western Japan October 23, 2017. REUTERS/Thomas White/File Photo
FILE PHOTO: Factories line the port of Osaka, western Japan October 23, 2017. REUTERS/Thomas White/File Photo

Osaka has received an unusual donation -- 21 kilograms of gold -- to pay for the maintenance of its ageing water system, the Japanese commercial hub announced Thursday.

The donation worth $3.6 million was made in November by a person who a month earlier had already given $3,300 in cash for the municipal waterworks, Osaka Mayor Hideyuki Yokoyama told a press conference.

"It's an absolutely staggering amount," said Yokoyama, adding that he was lost for words to express his gratitude.

"I was shocked."

The donor wished to remain anonymous, AFP quoted the mayor as saying.

Work to replace water pipes in Osaka, a city of 2.8 million residents, has hit a snag as the actual cost exceeded the planned budget, according to local media.