In this paper, we study a class of fully nonlinear contracting curvature flows of closed, uniformly convex hypersurfaces in the Euclidean space R n+1 with the normal speed Φ given by r α F β or u α F β , where F is a monotone, symmetric, inverse-concave, homogeneous of degree one function of the principal curvatures, r is the distance from the hypersurface to the origin and u is the support function of hypersurface. If α ≥ β + 1 when Φ = r α F β or α > β + 1 when Φ = u α F β , we prove that the flow exists for all times and converges to the origin. After proper rescaling, we prove that the normalized flow converges exponentially in the C ∞ topology to a sphere centered at the origin. Furthermore, for special inverse concave curvature function), where K is Gauss curvature and F 1 is inverseconcave, we obtain the asymptotic convergence for the flow with Φ = u α F β when α = β + 1. If α < β + 1, a counterexample is given for the above convergence when speed equals to r α F β .