Anek S | 500px Plus | Getty Images Asia-Pacific markets rose Thursday, breaking ranks with Wall Street which declined sharply after U.S. Federal Reserve Chair Jerome Powell cautioned that the ongoing trade tensions could challenge the central bank’s goals of controlling inflation and spurring growth. Japan’s benchmark Nikkei 225 started the day 0.59% higher, while…
HSBC subsidiary Hang Seng Bank appointed Gilbert Lee Man-lung, the eldest son of Hong Kong Chief Executive John Lee Ka-chiu, as deputy head of its China unit. The lender said that it would promote the junior Lee, 47, to vice-chairman of Hang Seng Bank (China) from his current position as head of strategy and planning…
Aerial view of the import and export container terminal of Longtan Port on December 26, 2024 in Nanjing, Jiangsu Province of China. China News Service | China News Service | Getty Images U.S. importers are being notified of an increase in canceled sailings by freight ships out of China as ocean carriers try to balance…
Chinese electric vehicle (EV) maker Xpeng has ramped up development of its own artificial intelligence (AI) chip to power its semi-autonomous cars, with a first mass production model to be fitted with the Turing chip from as early as this quarter. The chip, which is claimed to be more powerful than Nvidia’s Drive Orin X,…
The view of Nanjing Road East Pedestrian Mall, the main shopping street in Shanghai. Bruce Yuanyue Bi | The Image Bank | Getty Images Asia-Pacific markets mostly rose Tuesday after all three key benchmarks on Wall Street rose on a tech rally. Japan’s benchmark Nikkei 225 increased 1.02%, while the broader Topix index was advanced…
A Chinese flag flies high over The Bund. Liu Liqun | Corbis Documentary | Getty Images Asia-Pacific markets climbed Monday as U.S. President Donald Trump paused tariffs on some consumer electronics, boosting risk sentiment. Trump exempted smartphones and computers as well as other devices and components such as semiconductors from his new “reciprocal” tariffs, according to a…
US technology giant Microsoft has abruptly suspended some services for a number of clients in mainland China, fuelling speculation about accelerating technological decoupling between the world’s two largest economies. Guangzhou-based Sun Yat-sen University sent a notice to faculty and students on Tuesday night stating that Microsoft 365 services – including OneDrive, OneNote, and SharePoint –…
The view of Nanjing Road East Pedestrian Mall the main shopping street in Shanghai. Bruce Yuanyue Bi | The Image Bank | Getty Images Asia-Pacific markets rose Thursday, following Wall Street’s biggest burst of buying since 2008 after U.S. President Donald Trump announced a 90-day pause on higher tariffs on all nations bar China. Japan’s…
Naura Technology Group, China’s top chip equipment maker, said it expects a sharp rise in revenue and profit for the first quarter of 2025, after reporting strong performance in 2024, highlighting the country’s progress towards semiconductor self-sufficiency. The Beijing-based company, a key equipment supplier for the domestic chip industry, said in a corporate filing on…
Microsoft joint venture Wicresoft has put a halt to its China projects with the US technology giant, laying off around two thousand employees in the process, according to local media reports and some affected workers. Employees at the Shanghai office of Wicresoft – a Bellevue, Washington-based business consulting venture founded by Microsoft and its Shanghai…