Hong Kong stocks headed for the first weekly decline this month as concerns about frothy valuations for global equities dampened sentiment and drug makers slid after the Trump administration announced a fresh bout of tariffs on the industry. The Hang Seng Index fell 0.6 per cent to 26,320.69 as of 11.01am local time, taking the…
Super Typhoon Ragasa disrupted production of Apple’s iPhones in Shenzhen and crucial pre-holiday shipments by cross-border e-commerce merchants, as the year’s strongest storm barrelled towards southern China with heavy rain and hurricane-force winds. The world’s largest electronics contract manufacturer, Foxconn Technology Group, on Tuesday suspended assembly work at its Shenzhen unit – the innovative Product…
Hong Kong stocks fell on Tuesday after a high-level briefing on Monday failed to deliver the easing measures some investors had anticipated. The Hang Seng Index lost 0.5 per cent to 26,221.67 as of 9.45am. The Hang Seng Tech Index dropped 1 per cent. On the mainland, the CSI 300 Index gained 0.4 per cent…
DeepSeek has revealed details about the risks posed by its artificial intelligence models for the first time, noting that open-sourced models are particularly susceptible to being “jailbroken” by malicious actors. The Hangzhou-based start-up said it evaluated its models using industry benchmarks as well as its own tests in a peer-reviewed article published in the academic…
Hong Kong stocks wavered on Thursday, tracking Wall Street’s muted finish, after the Federal Reserve signalled a conservative approach on the pace of future easing. The Hang Seng Index slipped 0.2 per cent to 26,860.61 as of noon trading break, after jumping as much as 0.6 per cent to top 27,000 points. The Hang Seng…
Hong Kong authorities may use their right to control ride-hailing prices to prevent excessive and reductive competition, or involution, the Post has learned, but a lawmaker warned that this could cause legal problems and suggested regulation through controlling the number of licences issued instead. A source familiar with the matter told the Post that the…
An abrupt decision by American artificial intelligence firm Anthropic to restrict service to Chinese-owned entities anywhere in the world has cast uncertainty over some Claude-dependent overseas tools backed by China’s tech giants. After Anthropic’s notice on Friday that it would upgrade access restrictions to entities “more than 50 per cent owned … by companies headquartered…
A subsidiary of Fosun International this week marked a new milestone in bringing traditional financial instruments onto a blockchain infrastructure, which it touted as Asia’s first “comprehensive” technical solution for stock performance-linked tokens. Fosun Wealth Holdings-backed start-up Finloop Finance Technology Holding collaborated with FinChain, a Web3 brand under Fosun Wealth, in creating the new solution…
A growing number of Hong Kong-listed firms are snapping up cryptocurrency on the back of rising bitcoin prices and the popularity of digital asset treasury (DAT) companies in the US. Investment bank China Renaissance, which helped fund many leading Chinese tech firms, and Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, are…
Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, said it was investing in the cryptocurrency ether as part of its reserve assets, as the company expands into Web3 amid Hong Kong’s digital asset initiative. To date, Hong Kong-listed Yunfeng has invested US$44 million to acquire 10,000 ether for its “strategic reserve”, according…