Hong Kong stocks dropped by the most in two weeks and the benchmark gave up all its gains for the week, after a slew of disappointing earnings results from bellwether companies halted a rally triggered by a dovish US Federal Reserve.The Hang Seng Index fell...
Singapore continues to outrank Hong Kong – albeit by a single point – as the top financial centre in Asia, according to the latest edition of the semi-annual Global Financial Centres Index (GFCI).Singapore and Hong Kong rank third and fourth behind New York and London...
There is a US$4 trillion funding gap compared with the US$5 trillion annual investment the world needs to make by 2030 to reach the Paris Agreement’s ambition to contain global warming at 1.5 degrees Celsius by achieving net zero carbon emissions by 2050, the International...
The KwaiYii LLM from Kuaishou, a top Chinese short-video platform operator, has “significantly surpassed GPT-3.5 in overall performance … and is approaching the levels of GPT-4 in certain metrics”, said Cheng Yixiao, company founder and CEO, during its post-earnings call on Wednesday. 01:45Chinese AI-generated cartoon series...
US chip equipment companies are largely absent from the 1,100-exhibitor list at this week’s Semicon China, one of the country’s largest semiconductor industry events, as the China-US tech war continues to swirl.Although major US chip tool companies Lam Research and Applied Materials have sponsored Semicon...
Henderson Land Development, one of Hong Kong’s biggest developers, said it will launch some 7,100 new residential units this year, 7 per cent fewer than last year, after reporting flat annual profit.The developer, founded by Hong Kong’s second-wealthiest man, Lee Shau-kee, is confident the city’s...
At Apple’s office in Shanghai, Cook on Wednesday met two billionaire company founders: Wang Chuanfu, the chairman and chief executive of the world’s largest electric vehicle maker BYD, and Zhou Qunfei, the chairwoman and chief executive of touch screen manufacturer Lens Technology.Also present at the...
Ping An Insurance (Group), China’s largest insurer by market capitalisation, said its earnings fell for 2023 to their lowest level in five years, as strong sales of new policies were offset by setbacks in its asset management and technology investment businesses.Its net profit fell 23...
China’s state-backed developers are generating more profits from residential sales at the expense of weak rivals, indicating buyers are placing greater emphasis on safety in capital and home delivery after the industry cracked under three years of liquidity crunch.Poly Property Group reported a 77 per...
Daniel Zhang Yong, who stepped down as chairman and CEO of Alibaba Group Holding last year, has joined Chinese investment fund Firstred Capital.The internet industry veteran, who spent 16 years climbing the ranks at South China Morning Post owner Alibaba, will assume the role of...