Cambricon Technologies became the costliest stock in mainland China’s equities market, as the Beijing-based chipmaker replaced the liquor distiller Kweichow Moutai in a sign of the rising significance of artificial intelligence (AI) in the world’s second-largest capital market. Trading under the symbol 688256 in Shanghai, Cambricon’s shares jumped 11.60 per cent on Monday to a…
Sam Altman (Bloomberg) — Credit investors are pouring billions of dollars into artificial intelligence investments, just as industry executives and analysts are raising questions about whether the new technology is inflating another bubble. Most Read from Bloomberg JPMorgan Chase & Co. and Mitsubishi UFJ Financial Group are leading the sale of a more than $22…
Hong Kong’s Immigration Department declined to comment on the “individual case” when reached by AFP, adding that it “acts in accordance with the laws and policies in handling each immigration case”. The Foreign Correspondents’ Club Hong Kong said Friday it was “deeply concerned” over the incident and it understood that authorities did not give any…
In the first of a two-part series about Hong Kong’s market for initial public offerings, Zhang Shidong and Ao Yulu report that more Chinese companies opted to list in Hong Kong in the first eight months of 2025 than in New York. Hong Kong has overtaken the US as the new listing venue for Chinese…
Tankers in Spain Photographer: DeAgostini/Getty Images (Bloomberg) — The US sanctioned a Greek shipper and two Chinese port-terminal operators that it said facilitated the transport of Iranian oil, broadening a so-called maximum pressure campaign against Tehran. Antonios Margaritis was designated, along with a web of companies overseen by him in Greece and the Marshall Islands,…
Resource constraints and precedent mean China is unlikely to become one of Ukraine’s security guarantors – despite Russia’s suggestion that it could, according to analysts. With rising expectations for a face-to-face meeting between Russian President Vladimir Putin and his Ukrainian counterpart Volodymyr Zelensky, security guarantees for Kyiv have taken centre stage in discussions about a…
(Bloomberg) — Sharp losses in high-flying momentum stocks may present a dip-buying opportunity if history is any guide, according to Goldman Sachs Group Inc.’s trading desk. The traders cited rebounds after similar prior losses in Goldman’s High Beta Momentum basket, coupled with the current technical setup. Most Read from Bloomberg When the long-short momentum basket…
(Bloomberg) — Hong Kong Exchanges and Clearing Ltd. delivered record profit in the second quarter as initial public offerings and trading boomed. The bourse’s second-quarter profit rose 41% to HK$4.44 billion ($570 million), according to a statement Wednesday. Core revenue rose to HK$6.64 billion. Most Read from Bloomberg Hong Kong’s stock market has boomed this…
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,…
(Bloomberg) — A gauge of Shanghai-listed stocks closed at its highest level in a decade, as cash-rich local investors plow into a market that has surged amid easing trade tensions with the US. The Shanghai Stock Exchange Composite Index jumped 0.9% to close at 3,728 on Monday, its strongest finish since August 2015, according to…