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…
Hong Kong stocks rose on Monday after US Federal Reserve chair Jerome Powell signalled the possibility of a rate cut next month and Shanghai relaxed its home-purchase policies. The Hang Seng Index added 2 per cent to 25,837.65 at 2pm local time, the biggest gain in two weeks. The Hang Seng Tech Index rose 3…
The US Composite PMI rose from 55.1 in July to an 8-month high of 55.4 in August. Service providers hired at the fastest rate in seven months, while firms across both sectors reported higher import prices. Service sector price inflation reached its highest level since August 2022. August’s flash PMI numbers overshadowed jobless claims data….
Hong Kong stocks wavered on Thursday in the absence of catalysts ahead of the Federal Reserve’s annual Jackson Hole symposium. The Hang Seng Index fell 0.2 per cent at 11.30am local time after rising as much as 0.2 per cent. The Hang Seng Tech Index declined 0.6 per cent. On the mainland, the CSI 300…
Mainland Chinese stocks rose on Monday, driving a key gauge to a decade high amid increasing signs that investors have been rotating out of bonds and bank deposits into equities in hunt for better returns. The Shanghai Composite Index advanced 0.9 per cent to 3,728.03 at the close, a level not seen since August 19,…
Baidu’s Apollo Go robotaxi service has racked up 20,000 kilometres of “safe driving” in Hong Kong road tests, the company said on Saturday, as the city expands driverless vehicle trial areas in efforts to develop the sector. The mileage was completed during trials in Hong Kong’s Northern Lantau and Tung Chung areas since receiving the…
The world’s largest hedge fund, Bridgewater Associates, sold all of its holdings in US-listed Chinese companies in the second quarter, marking a decisive retreat from the market as geopolitical tensions and shifting investor sentiment clouded the outlook for the world’s second-largest economy. The fund exited positions in 16 Chinese stocks, which were worth US$1.41 billion…
Baidu’s Apollo Go robotaxi service has racked up 20,000 kilometres of “safe driving” in Hong Kong road tests, the company said on Saturday, as the city expands driverless vehicle trial areas in efforts to develop the sector. The mileage was completed during trials in Hong Kong’s Northern Lantau and Tung Chung areas since receiving the…
Hong Kong is ramping up efforts to develop driverless vehicle services by launching a trial at Cyberport and expanding an initiative at the West Kowloon arts hub following road tests in other areas. The Transport Department said on Thursday that mainland Chinese tech giant Baidu was also interested in applying to test autonomous vehicles in…