The Shaw Prize comprises three annual awards - Astronomy, Life Science and Medicine, and Mathematical Sciences - with US$1 million in prize money for each category.
The year's winners were presented their awards last week at the Convention and Exhibition Centre. The prize for Life Science and Medicine went to Jeffrey Hall (University of Maine), Michael Rosbash (Brandeis University) and Michael Young (Rockefeller University) for their discovery of molecular mechanisms underlying circadian rhythms.
The Mathematical Sciences prize went to David Donoho (Stanford University) for his contributions to modern mathematical statistics, particularly the development of optimal algorithms for statistical estimation in the presence of noise and large data-set techniques.
And the Astronomy award went to Steven Balbus (University of Oxford) and John Hawley (University of Virginia) for their discovery of the magnetorotational instability mechanism that accounts for the process of accretion, a widespread phenomenon in astrophysics.
The Shaw Prize was established by Hong Kong philanthropist Run Run Shaw in 2002.