US individuals are more likely than institutional investors to sell American depositary receipts (ADRs) of Chinese companies if the Trump administration pursues a decoupling of the world’s two biggest stock markets, according to Goldman Sachs. American retail traders held about US$370 billion worth of ADRs, the US investment bank said in a report on Wednesday,…
CLN KraneShares Key News Asian equities had a strong day on light volumes, except the Philippines, which was closed for Maundy Thursday, also known as Holy Thursday, commemorating the Last Supper. Hong Kong and Stock Connect are closed tomorrow and Monday. It was a fairly quiet night as Hong Kong rebounded by the same names…
China’s Huawei Technologies has launched a new artificial intelligence (AI) infrastructure architecture that is reportedly set to rival US chip giant Nvidia’s offerings in addressing computing power bottlenecks. Introduced last week, the CloudMatrix 384 Supernode was described as a “nuclear-level product” that matched Nvidia’s NVL72 system in alleviating computing bottlenecks for AI data centres, STAR…
Alibaba Group Holding’s revamped artificial intelligence (AI) assistant app, Quark, which offers a user-friendly interface, has surpassed ByteDance’s Doubao to become China’s most popular AI app in March, showing its appeal among local users. Quark ranked at the top among Chinese AI apps with nearly 150 million monthly active users (MAUs) worldwide, followed by ByteDance’s…
Chinese tech giants are playing a different AI game. US AI companies — like OpenAI and Anthropic — usually keep their most powerful models locked behind paywalls for consumers or license them to enterprises. China’s biggest players, in contrast, are handing theirs out for free — and rolling them out across everyday tech at breakneck…
Alibaba Group Holding founder Jack Ma delivered a rare speech to the company’s cloud unit on Thursday, laying out his ideas and vision for a responsible and human-oriented artificial intelligence (AI), as the tech giant pivots to become China’s AI enabler. Ma, 60, made a surprise visit to Alibaba Cloud’s campus in Hangzhou on Thursday,…
Washington: The stock market rout triggered by US President Donald Trump’s punishing tariff wars wiped over $10 trillion off major markets across the globe. The financial destruction, historic in scale, was equivalent to just over half of the GDP of the European Union, according to a report by Bloomberg. After Trump announced sweeping tariffs last…
CLN KraneShares Key News Asian equities experienced another deep drawdown, except for Hong Kong, Mainland China, and Thailand, as the Philippines missed the fun due to “Araw ng Kagitingan,” which celebrates the heroism of Filipino and American soldiers in World War II. This morning, China’s government reciprocated the U.S. government’s tariff increase by increasing tariffs…
Ant Digital Technologies, the technology arm of Ant Group, has chosen Hong Kong for its international headquarters in a show of commitment to artificial intelligence (AI) and Web3 technologies, the unit announced on Tuesday. The subsidiary cited Hong Kong’s role as a “bridgehead” for its global strategy. The company plans to establish joint laboratories with…
Misa Zhu Mingming, an engineer who had worked at Alibaba Group Holding, left in 2014 to found his own venture, Rokid. The start-up, which develops smart glasses, was backed by angel investors that included Vision Plus Capital, formed by Eddie Wu Yongming and others before Wu became CEO of Alibaba in 2023. A decade later,…