Companies, markets, the economy and personal finance.
China Telecom reported a 14.8 per cent drop in net profit to 26.2 billion yuan for the first three quarters of 2026, with operating revenues falling 3.7 per cent. The company said it is accelerating its transformation into a leading AI service provider.
A white paper by Citi Wealth and RFI Global shows average assets among Singapore's high-net-worth clients rose 6 per cent to US$1.5 million over the past year. Mutual fund ownership nearly tripled to 31 per cent, the highest in Asia, but most assets remain in cash.
Italian luxury group Prada reported a 1 per cent organic rise in third-quarter revenue, showing resilience in a weak sector. Including newly acquired Versace, group revenue reached €1.49 billion. Miu Miu's retail sales fell 3 per cent, slowing after driving growth in 2025.
Ping An Healthcare and Technology reported a 35 per cent year-on-year rise in net profit to 248.21 million yuan for the first nine months of 2026, driven by corporate health management and AI expansion. Revenue fell 5.8 per cent to 3.51 billion yuan.
Taiwan's TSMC, the world's largest contract chipmaker, is in early talks with suppliers to use rare-earth-free motors in factory equipment, aiming to reduce vulnerability to Chinese export controls on rare-earth materials, three sources said. The move follows US and Taiwanese government efforts to d
Indonesia is considering a return to China's onshore debt market with a panda bond offering of 7 billion to 10 billion yuan (US$970 million to US$1.5 billion) in the fourth quarter, a finance ministry official said on Thursday.
Liquidators for China Evergrande have recovered US$435.9 million from asset sales and loan recoveries since a January 2024 liquidation order, amounting to about 1 per cent of total creditor claims of US$46 billion. They aim to make a first interim dividend payment in the first half of 2027.
Sovereign wealth fund investments in mainland China and Hong Kong reached US$14.2 billion in the first nine months of 2026, a 190 per cent surge over 2025's full-year total, driven largely by Middle Eastern funds, CNBC reported.
Chow Tai Fook expects interim net profit to rise 90-100% year-on-year, citing fair-value gains from gold loan revaluation and improved core market sales. Third-quarter retail value fell 0.5%, with mainland China down 5.3% but Hong Kong and Macau up 33.2%.
Hong Kong's Securities and Futures Commission has launched proceedings against three senior executives of Tasty Group and five associates, alleging they manipulated the share price to meet listing requirements for a transfer from GEM to the Main Board.
Hong Kong stocks fell sharply on 22 October, with the Hang Seng Index closing at 22,934 points, a loss of 3.03 per cent. The tech index dropped 5.03 per cent to a two-year low, driven by concerns over AI investment and broad selling across sectors.
Jiangsu Xinde Semiconductor Technology, a Chinese chip assembly and test firm, has passed its Hong Kong Stock Exchange listing hearing. The company reported revenue of 359.67 million yuan for the four months to April 2026, up 17.4 per cent year-on-year, while its net loss narrowed slightly to 161.9
Hermes reported weaker-than-expected third-quarter revenue on Thursday, with sales rising 4.3 per cent year-on-year to €4.1 billion, below the 5.2 per cent forecast. Weak demand in China drove a 2 per cent decline in ready-to-wear and accessories sales, the first drop in years.
Noetix Robotics, a Beijing-based humanoid robotics startup backed by battery giant CATL, has filed confidentially for a Hong Kong IPO that could raise several hundred million US dollars. The company may go public next year, according to a Bloomberg report.
Hong Kong's Hang Seng Index plunged 697 points to 22,954 in early trading, a three-month low. Analysts warned shares could test 22,500 in the fourth quarter amid a tech selloff and concerns over AI developments, US rate hikes, and mainland wealth tax enforcement.
Meta Platforms has agreed to issue non-voting shares to Mark Zuckerberg to keep him in California, after he warned he might leave over a proposed wealth tax. The deal requires him to remain a resident for eight years. The tax, Proposition 40, would impose a 5 per cent levy on billionaires.
Tesla's engineering chief said the company aims to start selling its driverless Cybercab robotaxis by the end of 2026, even as US auto safety regulators investigate whether the vehicles comply with federal rules requiring manual controls.
Sands China reported a 29.8 per cent year-on-year drop in third-quarter profit to US$191 million, blaming weak high-end segments in Singapore and Macau. Net revenue rose 1.4 per cent to US$1.9 billion. The company said it will continue investing in Macau and is repositioning its Venetian Macau prope
Meta announced plans to issue new non-voting Class C common shares in January to support large-scale AI expansion. The company reported quarterly earnings per share of $3.83 and revenue of $64.6 billion, both beating expectations.
US stocks rose on 22 October, with the Dow up 360 points. Netflix fell over 5% after weak revenue forecasts. Tesla beat profit estimates but revenue fell short. Meta topped expectations and raised AI spending plans.
Tesla reported third-quarter revenue of US$28.05 billion, beating Wall Street estimates. Vehicle deliveries rebounded to 486,532 units and energy storage grew, but heavy spending on AI and robotaxis weighed on profit. Shares rose over 1% in extended trading.
Chow Tai Fook welcomed Botswana President Duma Gideon Boko to its new Beijing boutique on 14 October during his state visit. The visit coincided with China and Botswana deepening diamond sector cooperation.
EBay will lay off about 9% of its workforce, or around 1,000 jobs, as it simplifies operations and shifts resources to fast-growing areas. CEO Jamie Iannone announced the cuts in an internal memo, following a 6% reduction earlier this year. The company has outperformed the S&P 500 this year, boosted
A KPMG survey of 775 auto executives forecasts that by 2035 six of the world's 10 largest carmakers will be Chinese. Software and digital technology are expected to overtake traditional engineering as the key competitive differentiator, while most companies need over a year to deploy new AI capabili
Wall Street's main indexes opened higher on Wednesday as strong quarterly results from SpaceX and Super Micro Computer boosted investor appetite for AI stocks, while Netflix slipped after its forecast disappointed.
Lenovo is seeking a US$2 billion five-year loan at a margin of 75 basis points over SOFR, below the 110 basis points on its 2022 facility, Bloomberg reports. The loan, launched into syndication, aims to refinance the earlier debt at a lower cost.
Kazakhstan's sovereign wealth fund Samruk-Kazyna JSC has raised 3 billion yuan (HK$3.53 billion) through its debut offshore dim sum bond issuance in Hong Kong. The two-tranche bond, listed on the Hong Kong and Astana exchanges, was more than three times oversubscribed, highlighting strong investor d
Watsons has unveiled its first Plus store in Asia at Isetan Lot 10 in Kuala Lumpur. Spanning over 18,000 square feet, it is the largest Watsons in Malaysia and features an O+O ecosystem with personalised experiences, wellness services, and a café collaboration with ZUS Coffee.
China Life plans to sell a 33.73 per cent stake in its pension insurance subsidiary to its controlling shareholder for about 4.15 billion yuan, with a non-wholly owned asset management unit also selling its 3.53 per cent stake for about 430 million yuan. The insurer expects a total gain of around 2.
APEC finance ministers concluded their meeting, approving a joint statement and a policy statement on financing digital infrastructure in the Asia-Pacific region. They recognised digital infrastructure as crucial for long-term economic growth and market participation, especially for micro, small and
Swiss watchmaker Audemars Piguet plans a flagship store in Hong Kong's Central district. Sources told Bloomberg the brand will lease a 13,000 sq ft space at New World Tower for over HK$2 million monthly rent, and an additional 7,000 sq ft experience store nearby.
France's 10-year government bond yield reached 5 per cent on 21 October, a 24-year high, reflecting investor concern over the country's fragile finances and political uncertainty ahead of next year's election.
Chery, China's top car exporter, is open to partnerships with US automakers as it prepares for a Canadian brand launch in early 2026, a senior executive said. The company faces over 100 per cent US tariffs and data security hurdles but is exploring options including 'China-free' vehicles.
Chinese food-delivery firm Meituan is reportedly planning to issue offshore yuan-denominated bonds, its second dim sum bond offering. The move follows a trend of tech companies seeking lower-cost yuan financing amid high US interest rates.
Micron Memory Taiwan and a union at its Taichung operations signed a labour agreement on Wednesday, withdrawing from scheduled mediation. The deal covers multiple issues but terms were not disclosed. A separate union in Taoyuan is still set for a one-day warning strike on Thursday over bonuses and p
Shenzhen-listed printed circuit board manufacturer Aoshikang Technology plans to issue H-shares and list in Hong Kong to accelerate global expansion. The company's market capitalisation stood at 26.34 billion yuan based on its Shenzhen share price of 85 yuan. First-half net profit fell 57.79 per cen
Hong Kong stocks traded near 24,000 points before falling. The Hang Seng Index closed 83 points lower at 23,784. CATL tumbled over 10% after quarterly results, the biggest blue-chip loser. Consumer stocks fell, while biotech and some financial shares rose.
Elon Musk says merging SpaceX and Tesla is "a good idea" and that both companies have formed special committees to discuss a deal. SpaceX reported its first profit as a public company, driven by a surge in AI-related revenue.
TSMC said four construction workers were killed at a new factory site in Kaohsiung, Taiwan. Related building work and similar steel structure work at all TSMC sites in Taiwan have been suspended pending an investigation.
Japan is nearing a shift to inflation driven by rising wages rather than higher import costs, Finance Minister Satsuki Katayama said on Wednesday. The government plans a consumption tax cut and payouts to cushion household costs, but analysts warn this could conflict with the Bank of Japan’s interes
Japan's September exports grew 16.7% year-on-year, driven by semiconductor and AI demand, but missed the 20.1% market forecast. Imports rose 18.9%, and the trade deficit widened to ¥536.6 billion. Exports to the US surged 22.9%, while those to China increased 8.6%.
Korean retail investors are increasingly turning to covered call ETFs after the KOSPI index fell about 30 per cent from its peak and foreign outflows topped US$130 billion. The market has grown to 28.9 trillion won, and a new Hong Kong-listed CSOP product offers local access.
Netflix forecast fourth-quarter profit below Wall Street expectations and cut its 2026 advertising outlook, sending shares down nearly 7 per cent in after-hours trading. The streaming pioneer, which recently laid off 6 per cent of staff and replaced top programming executives, is seeking to revive g
The Dow led Wall Street higher on Tuesday as investors rotated into healthcare and other value sectors, while technology lagged. Healthcare hit a record high, boosted by Eli Lilly, UnitedHealth and others, as investors sought opportunities outside tech amid AI spending concerns.
Qualcomm will cut jobs globally in a "performance-focused reduction" following annual employee reviews, CEO Cristiano Amon said in a memo. Notifications begin in November. The company had about 52,000 employees as of September 2025. The memo did not specify the number of cuts.
Four workers fell from height at TSMC's F22 plant in Kaohsiung on Tuesday evening when connecting plate screws snapped during steel beam installation, killing three and leaving one critically injured. The Southern Taiwan Science Park Bureau halted lifting work and will impose fines pending investiga
Amazon plans to hire more than 300,000 US workers for the holiday season, its first recruitment increase for the period in three years. Seasonal staff working at least 30 hours weekly will get healthcare benefits from next year, as US holiday sales are forecast to top US$1 trillion.
The International Energy Agency stands ready to coordinate further emergency oil stock releases if member countries deem it necessary, its executive director said on Tuesday. The agency is prioritising the front-loading of 20 million barrels of diesel to cool record-high prices driven by supply disr
Wall Street's main indexes opened lower on Tuesday, pressured by renewed weakness in AI-linked stocks and a rebound in oil prices, as investors braced for major corporate earnings reports this week. The Dow slipped 0.01 per cent, the S&P 500 fell 0.15 per cent, and the Nasdaq dropped 0.37 per cent.
US single-family housing starts and building permits fell sharply in September as higher mortgage rates suppressed demand, suggesting residential investment resumed its decline in the third quarter. Mortgage rates have surged, with the 30-year fixed rate averaging 7.40 per cent last week, the highes
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