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Microsoft said on Monday it is offering voluntary buyouts to about 60,000 employees, or more than a quarter of its global workforce, as the technology giant looks to contain costs and help fund its massive AI investments. Staffers across the Windows maker would be eligible for the offers, including those working in AI experiences, Copilot, finance, human resources, Xbox and Windows + Devices, a source familiar with the matter told Reuters, requesting anonymity as the matter was private. Units such as marketing, commercial business and security will be excluded, the source added.
Anthropic filed for a US initial public offering on Monday, moving closer to a debut that could raise up to $100 billion and test investor appetite for AI. The listing would be among the largest ever, potentially reshaping markets and investor flows, with some valuing the Claude maker at about $1.5
HSBC downgraded its global equities stance to 'neutral' from 'max overweight', citing Middle East tensions and AI regulation fears ahead of US midterms. It upgraded developed-market sovereign bonds to 'overweight' and adjusted gold and oil ratings.
US stocks opened higher on Monday as Anthropic's IPO filing drew investor attention ahead of a week of corporate earnings and the Fed's interest-rate decision. The Dow rose 0.20 per cent, the S&P 500 gained 0.21 per cent and the Nasdaq climbed 0.28 per cent.
CITIC Securities reported a 20.2 per cent drop in third-quarter net profit to 7.68 billion yuan, missing analysts' estimates, as a weak stock market hit investment income. The broker's investment income fell sharply amid a global selloff of AI-related stocks.
IEA Executive Director Fatih Birol said he does not expect energy markets to return to pre-Iran-war levels in 2027. He cited tight supplies, high oil prices and winter demand concerns, urging governments and businesses to prioritise energy security.
HSBC plans to merge Hang Seng Bank's asset management unit into its own fund business following its US$13.6 billion take-private of the Hong Kong lender. The merger would be the first business-line integration between the two banks since the deal completed in January.
Hong Kong Mortgage Corporation posted a HK$3 billion after-tax profit for the first half of 2026, driven by a property market recovery and narrowing annuity losses. It also completed the world's largest digital bond issuance at the time, totalling about HK$12 billion equivalent.
China's central bank has set up the Bond Market NBFI Swap Facility to support liquidity at asset managers and fund firms during market stress, allowing them to borrow central bank bills and buy eligible bonds or fund units.
Hong Kong shares ended higher on Monday, with the Hang Seng Index rising 118 points to 23,211. Property, Chinese bank and oil stocks gained, while tech and chip shares fell.
IDG Capital is the frontrunner to buy ASMPT's SMT unit in a deal valued at over US$1 billion, sources say. The unit makes equipment for AI servers and EVs. A deal could come in weeks, but terms are not finalised.
Chinese copper magnate He Jinbi was sentenced to life in prison for fraud and bribery committed by his company Maike Metals International. A Xi'an court found Maike exposed banks to over US$1 billion in potential losses. He has appealed the verdict.
South Korean stocks fell on Monday amid concerns over the AI trade ahead of earnings from US tech giants. The KOSPI dropped 1.46 per cent, led by declines in chipmakers and automakers. The won strengthened and bond yields fell.
China's passenger car retail sales are forecast to drop 22 per cent this year to 18.5 million units, a decline linked to geopolitics, AI investment costs and raw material prices. A recovery of up to 5 per cent is expected in 2026 if conditions stabilise, according to an industry body.
Spot gold rose 0.4 per cent to US$4,010.51 per ounce on Monday, driven by softer oil prices calming inflation fears. Markets now await the US Federal Reserve's policy decision on 27-28 October, with traders largely expecting rates to remain unchanged this week.
Hong Kong Monetary Authority chief Eddie Yue said next week's International Financial Leaders Investment Summit will focus on whether current market rules remain effective amid rapid tech change and geopolitical shifts. The event will gather about 280 global leaders to discuss emerging risks and opp
China's yuan strengthened to a fresh four-year high against the US dollar on Monday, extending its longest winning streak since May. Analysts say the central bank is managing the pace of appreciation ahead of major central bank meetings and China's fifth plenum.
Saudi Arabia will store crude oil at Singapore's Jurong Rock Caverns from the second half of 2027 to strengthen supply security in Asia, energy ministers from both countries announced on Monday. The move follows supply disruptions caused by the US-Israeli war with Iran.
Elon Musk said SpaceX closed $40 billion in debt financing for AI chips. He predicted consolidation among neocloud firms and said debt markets have shut off for companies without independent revenue. The company expects $35-40 billion in Q4 capex.
Hong Kong's Hang Seng Index inched up 15 points in early trading on Monday, while the Hang Seng Tech Index fell 1.3 per cent. Japan's Nikkei 225 slid for a third straight session. Oil prices dropped from a six-month high after reports of Qatari-US mediation with Tehran following Houthi attacks on Sa
Shimao Group said a winding-up petition from China Cinda Trust has not been withdrawn for 60 days, triggering defaults on affected debt instruments. Outstanding principal totals about $9.07 billion. The company warned of a material adverse financial impact but has not received immediate repayment de
This week is a 'super central bank week' with the US Federal Reserve, European Central Bank and Bank of Japan all expected to hold interest rates. Markets will focus on Fed chair Jerome Powell's post-meeting comments for policy clues. US PCE inflation data and Q3 GDP are also due.
Investors overlook the 'Power Premium' when assessing US bonds. Despite a 30% drop in foreign purchases to US$282.9 billion in the first eight months of 2026, US Treasuries remain attractive due to US leadership in AI, military strength and financial markets, according to commentator Andrew Wong.
Audi CEO Gernot Doellner defended a planned US$4 billion US investment alongside President Donald Trump, saying it was months in the making and not against Germany. The plan, yet to be approved by Volkswagen's board, aims to set up Audi's first US production and could protect German jobs, Doellner a
US President Donald Trump announced Audi plans a $4 billion SUV plant in Georgia, creating 4,500 jobs, as he campaigns for midterm elections. Critics say tariffs raised prices and delayed investments. Audi's US sales are down 16 per cent this year.
Analysts forecast HSBC's third-quarter pre-tax profit to rise 32.9 per cent year on year to US$9.7 billion. Net interest income is expected to increase 32.23 per cent, while Goldman Sachs predicts a US$500 million share buyback, down from US$1 billion in the second quarter.
Chinese intelligent robot maker Changzhou Microintelligence Co has delayed its global offering and Hong Kong Stock Exchange listing, citing market conditions. The company will issue full refunds without interest from Wednesday.
Beijing says Washington's proposed rules expanding investment restrictions on China are discriminatory, harm bilateral trade and violate consensus between the two nations' leaders. China warns it will take countermeasures.
Apple's debut foldable iPhone Duo has faced widespread reports of display defects and hinge issues a day after launch. Early adopters reported vertical black lines and white artifacts on screens. Out-of-warranty repairs could cost over HK$8,700, and experts attribute problems to first-generation des
US stocks fell on 24 October as the Dow Jones Industrial Average shed more than 600 points amid renewed Middle East tensions that drove international oil prices up over 3 per cent. The Dow fell 1.2 per cent, while the Nasdaq and S&P 500 also declined.
Brent crude rose to US$114.99 per barrel on Friday, its highest since early May, after Houthi attacks in Saudi Arabia and an oil spill off the UAE coast stoked supply concerns. The benchmark is on track for a 4.4 per cent weekly rise.
Wall Street opened lower on Friday after a sharp selloff in AI-linked stocks, while telecom shares tumbled on fears that SpaceX could intensify competition. The Dow fell 0.32%, the S&P 500 fell 0.34%, and the Nasdaq fell 0.44% at the open.
China's securities regulator approved Citi's plan to set up a wholly owned securities unit in Shanghai, allowing the US bank to offer onshore capital markets services. Citi aims to double its headcount to about 100 by year-end as part of its expansion in China.
Macau's government has launched a 20 billion yuan guiding fund with six integrated resort firms. The government contributes 11 billion yuan from fiscal reserves, with firms adding 9 billion yuan. The fund targets new industries, tech startups, and regional integration with Hengqin and the Greater Ba
Hong Kong Exchange launches AI and semiconductor indices tracking listed firms, signs licensing agreement with Southern Fund Management for an ETF in mainland China.
Workers at a Micron Technology plant in Taiwan have rejected the company's profit-sharing proposal, with a union warning of potential further action amid soaring chip demand driven by AI.
SGX CEO Loh Boon Chye called for the bourse operator to begin planning for a leadership transition, though no departure date has been set. His contract runs until mid-July 2027. The call comes as Singapore pushes to reinvigorate its equities market and attract more listings.
AIA has appointed Edward Moncreiffe as a regional chief executive, two months after he left HSBC where he led global insurance. He will oversee operations in India, Sri Lanka, Australia and New Zealand from 2 November.
Giordano reported third-quarter revenue of HK$820 million, down 8.3 per cent year-on-year. Greater China revenue fell over 13 per cent to HK$352 million, while the Middle East grew 1.2 per cent. The company attributed the drop to non-Giordano brand sales in Indonesia and online decisions in mainland
Hong Kong's Hang Seng Index reclaimed the 23,000-point level at midday on 23 October, rising 132 points or 0.58 per cent to 23,066. The technology index climbed nearly 0.9 per cent to 3,826. Xiaomi led gains with over 5 per cent rebound, while chip stocks fell.
The US military has banned Chinese carmaker BYD's electric vehicles from Kadena Air Base in Japan from Monday, citing security concerns over cameras and sensors that could collect sensitive information, according to a Yonhap news report.
Economy Minister Minoru Kiuchi said Japan has yet to meet conditions to declare victory over deflation, exposing a gap with the Bank of Japan ahead of its policy meeting. The government says more evidence is needed to ensure the economy will not slide back into price declines.
SK Hynix said on 23 October it suspended a review of a US IPO for its Solidigm subsidiary, citing market volatility and share price trends. The decision follows South Korean regulatory scrutiny over dual-listing restrictions. Shares in SK Hynix have fallen over 30 per cent since the IPO was reported
Japan's September core consumer price index rose 2.1 per cent year-on-year, exceeding the central bank's 2 per cent target for the first time in nine months, driven by fuel costs, a weak yen and strong AI demand.
Moderna and Merck announced their mRNA cancer vaccine combined with immunotherapy Keytruda reduced melanoma death or recurrence risk by 42 per cent in a Phase 3 trial. The personalised vaccine, intismeran autogene, targets tumour-specific mutations. The companies plan to file for US approval and lau
US 10-year Treasury yields dropped below 5% amid renewed market concerns over artificial intelligence prospects. The US dollar index remained nearly flat at 101.64, while the yen weakened against the dollar, falling to 156.79. Bond buying surged as investors sought safe-haven assets.
US stocks fell sharply on 22 October as earnings reports stoked fresh doubts about AI investment. The Nasdaq dropped 2.58 per cent, its steepest daily fall since June, led by semiconductor losses. The S&P 500 lost 1.19 per cent, while the Dow edged up 0.03 per cent.
US initial jobless claims fell 6,000 to a seasonally adjusted 194,000 for the week ended 17 October, approaching 57-year lows. Economists cited strong domestic demand shielding workers from layoffs, though risks from the Iran war, tariffs and higher interest rates could undercut the labour market in
Luk Fook Holdings announced a 12 per cent increase in same-store sales for the second quarter of its financial year ending March 2027, driven by strong performance in Hong Kong and Macao markets due to favourable pricing and RMB appreciation.
Singapore Exchange (SGX) has signed an agreement with the Philippine Stock Exchange to explore depository receipts, ETFs and derivatives, as the bourse struggles to attract volume for locally listed US stocks. CEO Loh Boon Chye said closer regional links can make opportunities more accessible.
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