Hong Kong’s markets hit their lowest point in more than a decade in 2022, squeezed by rising friction between Washington and Beijing. With the US Federal Reserve tightening monetary policy aggressively, Asian markets were starved of liquidity. Hong Kong’s benchmark fell below 16,000 points in 2022, one of the steepest drops among global indices. Three…
Key News Asian equities were mixed overnight, as Hong Kong outperformed and Thailand underperformed. After an initial dip, growth stocks in Hong Kong climbed higher on robust volume, propelling the Hang Seng Tech Index to a four-year high as it closed above recent resistance. Concerned with Hong Kong outperforming and Thailand underperforming about missing the…
00:10 Speaker A Can China threaten the US dominance in AI? Well, the Shanghai composite, China’s mainland benchmark rose 3% in September alone. It’s longest monthly rally since 2017. Why? Well, Asian tech stocks have been on the rise. They’ve been benefiting from optimism around companies linked to AI developments. But is this optimism warranted?…
Regardless of how trade talks go, the US-China tech rivalry isn’t going away. From each side’s perspective, maintaining a lead in futuristic technologies matters significantly for economic growth and national power. Now, we’re entering round two. The first round was mostly defined by US export controls aimed at slowing China’s development of advanced technologies. These…
SHANGHAI, Sept 26 – China stocks fell on Friday, but ended the week near their highest level in 3-1/2-years as investor sentiment remained upbeat on growing confidence in the country’s artificial intelligence potential. ** China’s blue-chip CSI300 Index closed down 1%, while the Shanghai Composite Index lost 0.7%. Hong Kong’s benchmark Hang Seng was down…
Alibaba Group Holding’s ambitious investment in artificial intelligence and an endorsement by one of the world’s most influential technology investors lifted its Hong Kong shares to a four-year high. Star US fund manager Cathie Wood bought a combined US$16.3 million of Alibaba shares, her first investment in the Chinese e-commerce giant in four years and…
Key News Asian Equities were mixed overnight as Mainland China’s STAR Market and Hong Kong’s Hang Seng Tech Index both outperformed, while Australia and India underperformed. Alibaba announced that it will raise $53 billion for AI investments over the next three years, which was cheered by investors. Alibaba continues to be an AI leader in…
Nvidia is investing in OpenAI. (Photo by Justin Sullivan/Getty Images) Getty Images Key Takeaways Powell’s Cautious Remarks Shift Focus Toward Upcoming Inflation Data Nvidia’s Massive AI Investments Drive Market Cap And Sector Momentum Lithium Americas Surges On Potential Government Stake And EV Demand Major market indices fell on Tuesday with the S&P 500 dropping 0.55%…
US stocks rose before the bell on Wednesday, eyeing a return to their record-setting rally as Alibaba’s (BABA) spending plans and Micron Technology’s (MU) results lifted AI prospects. Nasdaq 100 futures (NQ=F) moved up roughly 0.3%, while those on the S&P 500 (ES=F) nudged 0.2% higher. Contracts on the Dow Jones Industrial Average (YM=F), which…
Memory chipmaker Micron Technology (MU) reported fiscal fourth quarter results after the bell on Tuesday that topped Wall Street estimates. Micron posted revenue of $11.3bn (£8.38bn) for the quarter, ahead of the $11.15 billion expected by analysts polled by Bloomberg. Adjusted earnings per share of $3.03 also beat forecasts of $2.84. The company’s guidance for…