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Business

The Nasdaq-100 Index plunged 6.4 per cent on Thursday, erasing US$2.3 trillion from its market capitalisation. Photo: Reuters

China Business

Tech stocks lead declines in Hong Kong, mainland China on US$2.3tr plunge in US

South Korea’s Kospi index, heavily weighted towards makers of memory chips, plunges more than 7 per cent.

Defence or growth? Wealth managers weigh AI exposure in client portfolios

‘Bullish on China’: US brand Levi’s bucks retail headwinds through localisation

Business

Hysan’s Lee Garden Eight draws Hong Kong law firm from Central: sources

Causeway Bay mixed-use development lures Woo Kwan Lee & Lo after 50 years in Jardine House, sources say.

Hysan Development and Chinachem Group’s Lee Garden Eight in Caroline Hill, Causeway Bay, spans more than 1.1 million square feet. Photo: Handout
Hysan Development and Chinachem Group’s Lee Garden Eight in Caroline Hill, Causeway Bay, spans more than 1.1 million square feet. Photo: Handout

Big Tech

As political bet fails, what happens now to Musk’s Tesla, SpaceX and China ties?

Billionaire may face congressional scrutiny over SpaceX’s government contracts and Tesla’s China links, analysts say.

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Tech Trends

No Intel, no Qualcomm: Huawei unveils its first ‘100% domestic’ desktop

Tech giant expands HarmonyOS beyond laptops and tablets as it accelerates efforts to replace US technology.

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Global Economy

What midterm election results change, and what they do not, for US bond market

Democratic gains reduce risk of fresh deficit blowouts, but analysts see inflation, energy prices and AI spending keeping yields elevated.

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The US Treasury Department building on Pennsylvania Avenue in Washington. Photo: AFP
The US Treasury Department building on Pennsylvania Avenue in Washington. Photo: AFP

Tech

China blocks SoftBank’s US$5.4 billion takeover of ABB’s robotics division

Case marks second major deal blocked by China this year after Meta was ordered to unwind its acquisition of AI start-up Manus.

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China Business

China’s Yutong Bus expands overseas as new-energy bus exports surge

‘Overseas public transport demand is growing fast, and international buyers are seeking more premium electric buses,’ Asia-Pacific CEO says.

China Economy

Oil prices slump as Trump election rout eases Middle East conflict risks

Concerns about Middle East oil shipments to China and other Asian nations have eased after US Republicans suffered a historic polling defeat.

A woman fills up her car at a service station in the US state of Illinois. Photo: AP

Big Tech

Open Questions | China’s appliance queen on quest for greener cooling, growth overseas

Gree Electric Appliances’ Dong Mingzhu says ‘If making money is not your only purpose, you keep asking harder questions’.

Illustration: Lau Ka-kuen
Illustration: Lau Ka-kuen

Banking & Finance

US asset manager Federated Hermes opens office in Hong Kong

City is a ‘premier wealth and asset-management hub’ crucial to the firm’s long-term growth, executive says.

Companies

Beijing steps up scrutiny with tax queries for 3 Hong Kong IPO candidates

In the first half of this year, at least 80 listed Chinese firms were ordered to repay corporate income taxes and late payment surcharges.

China Business

China stocks extend rebound on state support, US midterm results

Chinese equities rally as Beijing provides support and US election results signal potential end to funding for Iran conflict.

The closing index of the Chinese stock market on Wednesday. Photo Getty Images

Banking & Finance

PBOC extends digital yuan to overseas lenders to deepen cross-border flows

The upgraded CBETS platform allows overseas banks to process round-the-clock digital payments without overhauling legacy IT systems.

A sign indicating digital yuan, also referred to as e-CNY, is pictured on a vending machine at a subway station in Shanghai, on April 21, 2021. Photo: Reuters
A sign indicating digital yuan, also referred to as e-CNY, is pictured on a vending machine at a subway station in Shanghai, on April 21, 2021. Photo: Reuters

Banking & Finance

Why Hong Kong wealth managers want broader access to mainland China’s tech markets

Executives say expanded channels could strengthen wealth business and reinforce city’s role as gateway between mainland and global capital.

Companies

Could Shanghai project smooth indebted New World’s path to cash?

With tenants like Hermes and Rolex moving in, K11 Elysea’s occupancy hits threshold for cash-raising securitisation exercise, analysts say.

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China Business

China’s drug makers are speeding up – will AI be their secret weapon?

Chinese biotech firms are striking big global deals as drug makers, but could artificial intelligence take them to the next level?

Illustration by Henry Wong
Illustration by Henry Wong

Markets

Can Hong Kong’s listing reform 2.0 win over innovative firms?

The reforms enhance the city’s appeal for AI, biotech and other firms by slashing the market cap threshold and enabling confidential filings.

Big Tech

Competition or ‘co-opetition’: how is convergence shaping Sino-US AI race?

Speech by CEO of Chinese AI start-up at Nvidia event in US highlights symbiotic nature of tech relationship despite geopolitical tensions.

China EVs

How China’s EV makers think they can outrun disastrous price wars

At Beijing’s urging, an industry largely built on discounting must hold the line on prices and convince buyers to pay for better technology.

Illustration: Lau Ka-kuen
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OPINION
Nicholas Spiro

Macroscope | The AI sell-off is a taste of things to come

Nicholas Spiro
Robin Hu

Opinion | Xi-Trump summits must leave businesses with greater clarity, not less

Robin Hu
Hugh Harsono

Opinion | China’s offshore tax crackdown could inadvertently fuel a digital dollar boom

Hugh Harsono
Tan Poh Hwee

Opinion | Better protection needed as violent cryptocurrency robberies surge

Tan Poh Hwee
4
Djoomart Otorbaev

Opinion | China is no longer just the world’s factory. It’s the HQ

Djoomart Otorbaev
Alex Lo

My Take | How Beijing is neutralising Washington’s sanctions machine

Alex Lo
12
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MULTIMEDIA
Video

Starbucks Malaysia changed the game for deaf baristas

03:00
Video

Evergrande boss Hui Ka-yan sentenced to life in jail

CCTV
01:29
Video

Could the world’s second trillionaire come from China?

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02:56
Video

How China’s malls are trying to stay relevant

Wire
02:34
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