Quick Read China’s Long March booster recovery led Bernstein to name China SpaceX’s top rival, sending SPCX down and likely weighing on RKLB and ASTS. The UFO ETF slid 2% as crude spiked on Hormuz tensions, while Bank of America maintained a Buy rating on RKLB with a $115 target. Act now: the analyst who…
China recovered the first stage of a rocket for the first time on Friday, becoming only the second nation after the US, through Elon Musk’s SpaceX, to master booster recovery. People watch as a Long March 10B carrier rocket takes off from Wenchang Spacecraft Launch Site, before returning vertically to an offshore platform for a…
Good morning, unless you’re a SpaceX shareholder. The company’s stock closed under $150 yesterday, its first day in the Nasdaq 100, for the first time since its June 12 IPO, possibly imperiling Elon Musk’s title as the world’s first trillionaire. Who cares, right? Still, there are takeaways even if SPCX isn’t in your portfolio. First:…
The market realignment over the past week starkly captures the self-defeating logic of America’s technology containment strategy. The momentum began on June 15, when the shares of Chinese artificial intelligence pioneer Zhipu AI, which trade in Hong Kong under Knowledge Atlas Technology, surged by 48 per cent intraday after it announced the open-source release of…
Some may feel a lump in their throats as they watch Hong Kong’s first astronaut, Lai Ka-ying, make history, but few see it as anything more than an inspirational story for our youth. In reality, space, which can feel lofty and far away to pragmatic Hongkongers, could hold the key to our city’s economic future….
As news spread on Wednesday that Hong Kong banks were tightening scrutiny on mainland Chinese clients opening savings and investment accounts, Zhe Ye – an auctioneer based in the southwestern province of Yunnan – was stunned. The former asset appraiser had been planning a trip to Hong Kong to open an account, hoping to buy…
Good morning. Fortune’s newest Most Powerful Women list is out and there are some familiar tech faces on it, including AMD’s Lisa Su, Alphabet’s Ruth Porat, Huawei’s Meng Wanzhou, and Anthropic’s Daniela Amodei. Among this year’s notably ascendant? Meta’s new president Dina Powell McCormick, who leaps 19 spots to No. 58. As colleague Ellie Austin…
There was no joint statement out of Trump’s China trip today. But there might as well have been. In one of the most secretive spaces in Chinese politics, the walled compound where China’s top leaders live and work, the number of cameras and journalists granted access at the start of the bilateral tea this morning…
Hong Kong’s initial public offering (IPO) market has raised more than HK$140 billion (US$17.87 billion) as of April, maintaining its global lead, the city’s financial chief has said, while indicating a renewed push to develop gold trading amid rising demand for risk diversification. Financial Secretary Paul Chan Mo-po said on Sunday that Hong Kong remained…
China’s commercial space sector has entered a new frontier. In January, a private Chinese aerospace company unveiled the test capsule of what is set to become the country’s first commercially developed crewed spacecraft, with plans for crewed flights by 2028 and bookings already taken from private space tourists. The project reflects a decisive shift in…