Hong Kong stocks jumped on Thursday after a one-day break, as signs of stabilisation in the property sector and gains in technology firms boosted sentiment. The Hang Seng Index shot up 1.3 per cent to 27,191.99 as of 9.55am local time. The Hang Seng Tech Index added 2.2 per cent. Mainland stock exchanges are closed…
Biomap, a biotechnology start-up co-established by Baidu founder Robin Li Yanhong and backed by the Hong Kong government, says it has surpassed Alphabet subsidiary AlphaFold in commercialising artificial intelligence foundation models for drug discovery. Multinational pharmaceutical companies were seeing a “reverse” in the technological gap between Biomap and AlphaFold, Wei Liu, co-founder and CEO of…
Hong Kong stocks rose on Thursday as a rally in Chinese technology stocks continued. The Hang Seng Index edged up by about 0.4 per cent to 26,633.11 at the noon break. The Hang Seng Tech Index gained 1.9 per cent. On the mainland, the CSI 300 Index rose 0.9 per cent and the Shanghai Composite…
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…
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…
Since the launch of the Made in China 2025 plan a decade ago to foster industrial upgrading, it has been widely depicted in the West as a state-led market distortion and doomed to fail. Yet the outcome is far from failure. State-led efforts under the 10-year plan have provided a solid foundation for advancements, especially…
China is likely to see 300,000 driverless cabs operate in its four top-tier cities as early as 2030, buoyed by advancements in artificial intelligence (AI) and its highly competitive electric vehicle (EV) sector, UBS said on Thursday. The number of robotaxis on the mainland was expected to jump to 4 million by the late 2030s,…
By Liam Mo and Brenda Goh BEIJING (Reuters) -China’s Alibaba is likely to highlight its artificial intelligence strategy with its quarterly results on Friday, but in line with its peers Tencent and Baidu, may struggle to show that its big AI investments are paying off. The companies have invested billions of dollars into AI over…
Hong Kong’s government-owned wealth fund has partnered with one of China’s leading artificial intelligence agencies to attract global talent to the city, as it strengthens its commitment to transform into a technology hub. The project aimed to “connect representatives from academic research, investment, industry and government sectors to [facilitate] cross-jurisdictional and cross-sectoral dialogue”, HKIC CEO…
China’s domestic server and chipmakers are entering a “super cycle” as the country’s local governments spend lavishly on computing infrastructure to support artificial intelligence development. The AI Computing Power Concept Index, compiled by Chinese financial data provider Wind and comprising 54 component stocks, hit a record high on Monday, with an increase of 166 per…