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Stocks

Stocks
Stock market action from around the world, with a focus on Hong Kong, China and the rest of Asia.
Pedestrians pass a foreign currency indicator board showing the rate of the US dollar against the Japanese yen in Tokyo on August 3. The yen surged against the US dollar, reaching its strongest level in about three months after Japanese and US monetary authorities conducted a coordinated intervention to buy the yen for the first time in 28 years. Photo: EPA
Banking & finance

Macroscope | Behind the AI stock market bubble lies a weak yen

The tech stock boom, financed in large part by the yen carry trade, is at risk of collapse if the currency strengthens.

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Artificial intelligence

Cambricon posts 108% surge in revenue amid China’s massive AI chip drive

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China stock market

Global AI trade revival brightens outlook for Chinese tech stocks

Artificial intelligence

The ‘rice of electronics’: AI boom is fuelling China’s MLCC supply chain

Driven by the insatiable computing needs of global AI infrastructure, the upstream MLCC supply chain is racing to expand capacity.

In a filing to the Shenzhen Stock Exchange on August 5, Shandong Sinocera Functional Materials says it is planning to expand its capacity for AI servers and vehicles. Photo: Handout
China stock market

Chinese fund managers’ pursuit of AI plays backfires as hot tech stocks wobble

AI bets have been unravelling globally amid doubts about the investment returns on cloud-service infrastructure.

Hong Kong stock market

Hong Kong market regulator flags more firms on share concentration

SFC notes 13 cases so far this year, already close to last year’s total of 15, and warns a lack of public float can lead to high volatility.

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US-China tech war

Chinese optical-module stocks rebound as analysts weigh ‘mild’ US AI curbs

FCC plan would preserve existing supplies while targeting next-generation products, forcing Washington to balance security concerns with cost of replacing Chinese capacity.

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Workers are seen at a data centre. Photo: Shutterstock
Hong Kong stock market

Mainland investors dodge AI tumult by extending buying spree in Hong Kong

Mainland traders poured US$8 billion into Hong Kong equities in July, eyeing refuge from global tech sector volatility, in a market trading at just 12.2 times earnings.

China stock market

China’s stock account openings slow in July amid tech sell-off

The number of new accounts opened on the Shanghai Stock Exchange was down 7 per cent month on month.

Hong Kong stock market

How SpaceX earnings, expiries could test Hong Kong, mainland China stocks

Elon Musk’s aerospace unit faces scrutiny as results and a share unlock loom, testing investor appetite for capital-intensive tech.

Elon Musk’s SpaceX is viewed as a gauge of investors’ willingness to fund capital-intensive technology. Photo: TNS
China stock market

China’s AI rout triggers 14% margin retreat in record tech sell-off

Tech stocks plummeted in July as traders unwound leveraged positions, sparking a drop in margin financing and raising concerns in Beijing.

An investor walks by an electronic board displaying stock prices at a brokerage house in Beijing. China's stock traders unwound their leveraged positions in July, fuelling a brutal technology stock sell-off. Photo: AP
South Korea

South Korea tightens grip on high-risk ETFs as investor losses mount

Regulators are eyeing curbs such as reducing the leverage ratio of single-stock ETFs and raising the minimum investment requirement.

Banking & finance

China’s social security fund boosts A-shares, a vote of confidence in market

National Social Security Fund increases onshore stock stakes, targeting tech as state pension returns hit 5.76 per cent.

HKEX

Treasury bond futures ‘a milestone’ to boost Hong Kong’s bridgehead role: CSRC

First offshore China government bond futures rose more than 1 per cent on debut on Monday.

The HKEX China government bond futures launch ceremony on Monday. Photo: Jonathan Wong
Artificial intelligence

Opinion | Why global AI exuberance is about to hit ‘nasty’ reality

The era of unprecedented expansion is giving way to a volatile period where tech firms’ soaring ambitions feel the squeeze.

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A man walks past an electronic screen showing the SK Hynix stock price outside a foreign exchange dealing room at the Hana Bank headquarters in Seoul on July 31. Photo: AFP
Donald Trump

Trump faces ethics storm for ‘pimping’ fast access to his Truth Social posts

The move raises questions about insider trading and using public office for private gain.

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China stock market

From property to portfolios: why Chinese families are walking away from homes

While Chinese families grow cautious, South Korean retail investors use record leverage to chase tech ETFs despite mounting risks.

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Banking & finance

HSBC sells US$25 billion of Australian home loans to Blackstone

The remainder of HSBC Australia’s retail business will be wound down in a phased manner over the next 18 months.

A suburban housing estate in Australia. HSBC has agreed to sell a US$25 billion Australian home loan portfolio to a unit of Blackstone, resulting in an immaterial pre-tax loss of less than US$100 million. Photo: Shutterstock
China stock market

China’s Politburo meeting bolsters hope state will support troubled stock markets

In rare reference to the nation’s capital markets, Beijing policymakers underscore their role in maintaining resilient capital markets.

China stock market

Elite company: the firms that were China’s most valuable before CXMT

Chipmaker’s ascent to highest market capitalisation ends two decades on top for energy conglomerates, lenders and consumer brands.

US-listed Chinese stocks

Fed uncertainty, AI doubts: the twist benefiting US-listed Chinese stocks

Chinese shares trading overseas are being cast as defensive plays as Fed path confusion shifts money away from US equities and bonds.

The Nasdaq Golden Dragon China Index of the biggest Chinese companies listed in the US has risen 1.7 per cent after the Fed’s July rate-decision meeting. Photo: Reuters
IPO

AI stock rout fells Innolight after mega Hong Kong IPO

Nvidia supplier Innolight declines on its Hong Kong trading debut as once AI-hungry investors turn increasingly nervous about sector’s huge spending plans.

The listing ceremony for Zhongji Innolight. Photo: Jonathan Wong
China stock market

China’s market clean-up: Beijing cracks down on insider trading

Regulators intensify pursuit of corporate insiders, imposing fines and bans to restore stock market confidence amid widespread violations.

Hong Kong stock market

Zhongji Innolight sees rocky start as shares fall on Hong Kong IPO amid AI sell-off

The Chinese firm completed Hong Kong’s biggest IPO of the year, but its debut comes amid waning investor confidence in AI-related stocks.

Banking & finance

HKMA warns of interest-rate risk as traders bet on September rate rise

HSBC, Standard Chartered, Bank of China (Hong Kong) keep their prime and savings rates unchanged, mirroring HKMA’s decision to hold steady.

The Hong Kong Monetary Authority at the International Financial Centre Building in Central, Hong Kong. Photo: Shutterstock
Artificial intelligence

Hunger for electronic ‘rice’ feeds stock rise for China’s MLCC makers

Shares in Guangdong Fenghua, Suzhou GYZ, Chaozhou Three-Circle and upstream suppliers shoot up as relentless AI demand reshapes market.

Japanese and South Korean giants dominate supply of advanced MLCCs used in AI infrastructure, creating opportunities for Chinese manufacturers in lower-end segments. Photo: Shutterstock Images
Hong Kong stock market

Why is Zhongji unveiling US$1.2 billion in buy-backs before its Hong Kong debut?

The optical-module maker plans to buy back shares denominated in yuan to anchor pricing before its initial public offering in the city.

Hong Kong stock market

Hong Kong investors hunker down for Fed decision, jumbo IPO

Both a US Fed rate policy meeting and the largest initial public offering in Hong Kong in seven years will occur on Thursday.

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