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02 Apr Hong Kong stocks leap in catch-up trade after China’s manufacturing rebound; Xiaomi surges on strong EV orders

Posted at 02:43h in Asia

Hong Kong stocks jumped by the most in three weeks, with investor sentiment lifted by a manufacturing rebound in the world’s second biggest economy and as Chinese smartphone and gadget maker Xiaomi reported solid orders on its debut in the world’s biggest electric vehicles (EV)...

02 Apr Exclusive | UBS sees Asia as its future growth engine after Credit Suisse merger boosted its regional footprint, CEO says

Posted at 00:30h in Asia

As of the end of last year, UBS had attracted a net US$77 billion of new money globally since the two banks officially merged on June 12. That was much higher than the first five months of 2023, when Credit Suisse saw an outflow of...

02 Apr Tech war: updated US semiconductor export restrictions raise demand in China for Nvidia’s RTX 4090 graphics card

Posted at 00:00h in Asia

“The demand for high-end graphic cards remains very robust, especially after the export curbs imposed by the US government,” said Cai Zhaojie, a vendor at Huaqiangbei in the Futian district of tech hub Shenzhen, southern Guangdong province.The Biden administration last Friday revised sweeping export controls...

01 Apr Some consumers, businesses are feeling more optimistic about the economy, say BoC surveys

Posted at 15:45h in Canada

The Bank of Canada says business and consumer sentiment improved during the first quarter of the year, despite higher interest rates still putting a drag on the economy.The central bank on Monday released its business outlook and consumer expectations surveys, which showed increased optimism as...

Chinese carmakers Li Auto, Nio, Xpeng and BYD report March sales rebound, but ‘difficulties are looming’ as competition intensifies in world’s largest EV market

01 Apr Chinese carmakers Li Auto, Nio, Xpeng and BYD report March sales rebound, but ‘difficulties are looming’ as competition intensifies in world’s largest EV market

Posted at 12:30h in Asia

Li Auto, Nio and Xpeng, China’s top three premium electric-vehicle (EV) manufacturers, have reported a strong rebound in deliveries in March, after their promotional activities attracted thousands of buyers. BYD, the world’s largest EV maker, said the sales of its pure electric and plug-in hybrids...

01 Apr Zhang Kun, China’s biggest money manager, issues stock valuation warning, says days of fast economic growth are gone

Posted at 10:40h in Asia

Investors should exercise more caution when it comes to the valuations of Chinese stocks, as corporate earnings growth is set to slow because of Beijing’s pursuit of high-quality economic growth, according to China’s biggest money manager.The base probability of sustainable high-quality growth at companies is...

01 Apr Hong Kong misses out on JLL’s top 25 cities for innovation, talent, while Beijing, Tokyo and Singapore make top 10

Posted at 09:30h in Asia

Singapore, which is widely perceived as Hong Kong’s main rival as a finance hub, came seventh. Shanghai claimed the ninth spot, just behind Austin, and ahead of Seattle, which rounded out the top 10.“Tokyo, Seoul, Shanghai, Beijing, Singapore and Shenzhen all outperform in innovation output,...

01 Apr Exclusive | Tech war: China quietly making progress on new techniques to cut reliance on advanced ASML lithography machines

Posted at 09:00h in Asia

Beijing-based Naura Technology Group started research on lithography systems last month, according to people familiar with the matter, as China’s home-grown semiconductor tool makers try workarounds to produce advanced chips without the latest equipment from Dutch giant ASML, a breakthrough that could potentially thwart US...

01 Apr China’s new home sales slide for 10th month with buyers sidelined, lending push failing to halt liquidity crisis

Posted at 08:30h in Asia

China’s property developers recorded another set of dismal operating results as new home sales tumbled for a 10th straight month, suggesting it would be premature to expect a turnaround in a three-year slump in the industry.Sales at the nation’s 100 biggest home builders tumbled 46...

01 Apr ‘Urgent’ safety recall leaves couple with dangerous Ram truck for nearly 2 years

Posted at 08:00h in Canada

When the recall notice came in the mail, Michele Ashenden and her husband Vittorio Pulcini knew it was serious.The words "Urgent Vehicle Recall'' in red letters were sprawled at the top, along with a warning that a defective fuel pump on their truck could lead...

Author: admin