Tech gains, oil price falls lift HK, mainland markets
Hong Kong and mainland stocks closed higher on Tuesday, led by AI supply chain shares, as an overnight rally on Wall Street and sliding oil prices lifted risk sentiment across Asia. The benchmark Hang Seng Index closed 108 points, or 0.4 percent, higher at 24,557 on turnover of HK$178.17 billion. The tech index rose 43 points, or 1.1 percent, to 4,084 while the China enterprises index crept five points, or 0.1 percent, up to 8,265. Optical communication giant Zhongji Innolight jumped nine percent while Wuxi AppTec rose up to five percent before paring gains after the Pentagon removed the biotechnology company from its list of Chinese military companies. Mainland chip firms Suzhou Denglin Technology and Jiangsu Xinde Semiconductor Technology made mixed trading debuts after raising a combined HK$2.36 billion in initial public offerings. AI chip designer Suzhou Denglin ended HK$18, or 7.79 percent, down at HK$213 while semiconductor packager and tester Jiangsu Xinde was HK$2.52, or 28 percent, up at HK$11.40. On the mainland, the benchmark Shanghai Composite Index inched up just under three points, or 0.08 percent, to end at 3,663. The Shenzhen Component Index was 96 points, or 0.86 percent, higher at 11,241 while the ChiNext Index was 35 points, or 1.46 percent, up at...
Read full articleMore News
Trump says FBI investigating Nvidia boss's affair with alleged Chinese spy
The US president said he spoke with Jensen Huang on Monday and asked him about the affair with the alleged spy.
Justice Dept. Accuses Lyft of Disability Discrimination in Lawsuit
The department said Lyft and its drivers routinely deny rides to people who use stowable wheelchairs or travel with service animals. Lyft disputed the allegations.
Final chapter for bookshop after rise in bills
The Chicken and Frog in Brentwood says business rates and electricity bills have risen dramatically.
New chief outlines main issues facing Isle of Man
The chief minister says connectivity and food storage were among his top government priorities.
Australia considers criminal penalties for rogue AI in wake of OpenAI hack
AI safety regulator will also be created after a rogue OpenAI agent hacked government websites.
‘We Used to Be a Wealthy City’: Auto Woes Slam German Towns
The downturn in the automotive industry has done away with services and benefits that residents of Friedrichshafen, a lakeside city, once enjoyed.
Californians reject wealth tax for billionaires
Proposition 40 targeted Californian billionaires with a 5% tax on their total wealth, including assets such as shares as well as income.
Lawsuit Says Republican Strategist Alex Bruesewitz Took Money From Qatari Interests
The suit claims that any payments to Alex Bruesewitz, a Republican strategist, could have violated federal law. He has denied ever taking such funds.
Qantas to outsource 850 local jobs with most roles moving to India
The Australian airline said the move was aimed at modernising its IT systems and noted the impact of AI.
Exxon Strikes Preliminary Deal to Return to Venezuela
The agreement brings the biggest U.S. oil company a step closer to pumping oil again in Venezuela, nearly two decades after it left the country.
I took Vinted to court to get my money back
The BBC hears from Vinted sellers who describe difficulties accessing money held in their online wallets.
The superpower battle over energy – and what it means for your bills
A tug-of-war between China and the US could have a big impact on energy costs, but who will win?