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
China's CATL reported third-quarter net profit of 21.2 billion yuan, up 14.5 per cent year-on-year, missing analysts' forecasts of 41.2 per cent growth. Revenue rose 58.6 per cent to 165.2 billion yuan, also below expectations, as competition in the EV battery market intensifies.
China Mobile's net profit fell 7.9 per cent year-on-year to 106.2 billion yuan in the first three quarters. Operating revenue declined 1.8 per cent to 780.3 billion yuan. The firm said it would advance AI and computing integration.
London Metal Exchange CEO Matt Chamberlain has pledged to support use of the yuan, citing many Chinese players active on the market. The LME allows clearing in dollars, euros, yen and sterling, but yuan is only for cash collateral. Chamberlain said the "RMB project" would help London as an offshore
Prudential Financial will sell its Brazil and Mexico units to France's CNP Assurances Group for US$4.03 billion in cash, as the US insurer narrows its geographic footprint. The deal is expected to close in the second half of 2027.
Volkswagen's partnership with Xpeng has failed to revive its China business, with the ID. UNYX 08 selling just 267 vehicles a month after launch, far below the 3,622 monthly target. The German automaker's China profits have plunged from nearly 50 per cent of group profits to about 10 per cent, promp
Jiangsu Slender West Lake Culture and Tourism has shelved its global offering and proposed a main board listing on the Hong Kong Stock Exchange, citing current market conditions. The company said underwriting agreements for the international and Hong Kong public offerings will not proceed, though it
Suzhou Dongshan Precision Manufacturing has launched bookbuilding for its Hong Kong listing, aiming to raise up to HK$10.67 billion. The Shenzhen-listed firm is offering 113.8 million H shares at up to HK$93.8 each, with trading expected to begin on October 28. Proceeds will fund new and upgraded pr
The Bank of Japan may lift its inflation outlook for the next fiscal year in forecasts due this month, citing rising oil prices, but is expected to keep rates steady at its October 30 policy meeting unless the yen slides further, sources said. The board will likely maintain its focus on inflationary
Hong Kong stocks fell 1.32 per cent on Tuesday, with the Hang Seng Index closing at 23,867 points, dragged by tech heavyweights and UK bank tax fears. Lenovo plunged nearly 10 per cent, while HSBC and Standard Chartered dropped after reports of a planned UK levy.
Changzhou Micro-Intelligence, China's top industrial-robot maker, launched its Hong Kong IPO on Tuesday to raise up to HK$799.9 million. The firm offers 37.28 million shares at HK$16.63 to HK$21.46 each, with trading expected to start on 28 October. Proceeds will fund R&D.
Fairwood (0052) forecasts net profit of HK$32 million to HK$34 million for the six months to 30 September 2026, a 140 to 160 per cent year-on-year increase. The restaurant operator credits product innovation, data-driven promotions, AI analytics for store openings, and sustainable cost optimisation.
The APEC Finance Ministers' Meeting has driven hotel occupancy in Hong Kong's core districts to near saturation, with peak rates of 98 per cent on Hong Kong Island and 95 per cent in Tsim Sha Tsui, according to Miramar Group's chief operating officer. Average room rates on the island have surpassed
Hong Kong stocks edged lower by midday, with the Hang Seng Index down 0.95 per cent to 23,956 points. Lenovo led losses, plunging 7.56 per cent, while mainland benchmarks were mixed.
HSBC is searching for a new chief executive for its asset management business to replace Nicolas Moreau, according to Bloomberg. The bank has approached potential candidates, as the unit manages US$928 billion in assets.
OpenAI is rushing to secure about US$30 billion in funding before rival Anthropic's expected market debut in mid-November, aiming for a valuation above US$1.4 trillion. The accelerated timetable reflects competition for similar investors and a desire to avoid comparisons with Anthropic's financial d
A union representing Micron Technology workers in Taoyuan, Taiwan, will strike on Thursday during a mediation meeting with the US chipmaker, escalating a bonus dispute. The action aims to pressure Micron for a concrete profit-sharing proposal, with about 15,000 employees affected across two faciliti
US stocks closed mixed on Monday as technology shares rallied, with the Nasdaq up 1.1 per cent while the Dow fell 0.1 per cent. Amazon and Tesla led gains, though Meta and Apple declined. Investors await Tesla and Meta earnings later this week.
Wall Street's Nasdaq led gains on Monday as chip and AI-related stocks recovered from last week's steep selloff, though investors remained cautious ahead of major tech earnings. The S&P 500 rose 0.42 per cent while the Dow slipped, as oil prices climbed on Middle East attacks.
Tesla has filed its proxy statement with the US SEC, seeking shareholder approval to re-elect Elon Musk, Robyn Denholm and JB Straubel to three-year terms at the December 3 annual meeting. The filing also details Musk's unearned $1 trillion performance award and a new retail voting framework develop
Hong Kong-listed Metis TechBio has signed a collaboration with Eli Lilly worth up to US$1.1 billion to develop tissue-specific drug-delivery technologies using its AI-driven platform. Metis will receive an upfront payment and milestone fees, plus tiered royalties on net sales of resulting products.
The Bank of England is looking into a complaint that Barclays traders misrepresented illiquid private credit loans to understate risk, the Financial Times reported. The Prudential Regulation Authority received the complaint earlier this year about how Barclays recorded derivatives used to finance su
China's securities regulator will prioritise capital market stability as global market interconnection grows, chairman Wu Qing said on Monday. The CSRC will strengthen risk monitoring, improve stabilisation mechanisms and guard against emerging risks, while advancing reform of the STAR Market and Ch
The yuan strengthened against the US dollar on Monday to its highest level in more than four years, after China's third-quarter economic growth of 4.5 per cent beat forecasts and reduced pressure for aggressive stimulus.
China's new home prices in 70 major cities fell 2.8 per cent year on year in September, narrowing from August, according to Reuters calculations based on official data. Month on month, prices dipped 0.1 per cent, unchanged from the previous month. First-tier cities saw mixed results, with Shanghai r
China's personal luxury market contracted again in 2025 as consumers turned to second-hand goods and homegrown brands, with Bain & Company estimating the pre-owned sector grew 15-20 per cent. Analysts say foreign labels must adapt to shifting tastes and digital habits, while legal friction with loca
Wall Street indexes opened largely muted on Friday amid persistent concerns over the AI trade, which pressured semiconductor stocks. Tesla's gains provided some support, with the Dow and S&P 500 rising slightly while the Nasdaq fell.
US import prices rose 1.1% in September, exceeding forecasts, driven by higher energy costs and other goods. Annual increase hit 8.1%, the largest since July 2022, as Middle East conflict strains supply chains. Markets expect Fed to hold rates steady this month.
Standard Chartered and LIFTWOMEN announced the winners of the SC WIN Now & Next Challenge 2026, with Christine Tsui of Canpanion taking the top business award. Ten finalists competed in Shenzhen across five categories, including international growth, social impact and next-generation leadership.
Hong Kong Exchanges and Clearing has deferred the target for implementing T+1 settlement in the cash market to the second half of 2028, from the fourth quarter of next year. The move follows a consultation with 109 responses showing strong support, and will use a three-layer implementation framework
Bank of China has launched an International Healthcare Financial Services Platform in the Greater Bay Area, enabling patients to receive treatment at partner hospitals without upfront payment while insurers settle bills directly. Fifteen mainland hospitals and nine insurers have joined the platform
Hong Kong shares closed higher on Friday, driven by tech stocks, with the Hang Seng Index up 0.52 per cent. Lenovo rebounded 8 per cent after a sharp fall, while Kuaishou rose on its new AI video model. Mainland indices also gained.
Sun Life Financial unveiled a refreshed global brand on Friday, merging its name into the single word "Sunlife" with a new logo and tagline "Making life brighter." The insurer said the change reflects its growing business breadth, and the new brand will roll out gradually in Hong Kong from 2027.
PetroChina is expected to post record trading profits this year, with its trading arm PCI projected to exceed 20 billion yuan, as the Iran war disrupts Middle East oil flows and boosts margins at its overseas refineries. Its crude division has already more than doubled 2025 earnings by early October
Federal Reserve Chairman Kevin Warsh voiced optimism about US economic strength and global resilience at the IMF-World Bank meetings in Bangkok, while declining to preview future interest-rate decisions. He cited investment momentum and AI's broadening impact as tailwinds.
MSCI plans to reclassify Indonesia as a standalone market, citing serious market dysfunction and inadequate reforms. The Jakarta Composite Index fell 8 per cent, triggering a trading halt, before losses widened to nearly 13 per cent. The IDX said it had taken steps to improve transparency and demand
KFC has chosen Coca-Cola as its US beverage supplier, ending a roughly four-decade partnership with PepsiCo. The move, effective by spring 2027, could pressure PepsiCo's soda sales and comes amid activist investor scrutiny and slower-than-expected growth.
Hong Kong stocks opened higher on Friday, with the Hang Seng Index rising 1.08 per cent to 24,321 points, buoyed by overnight US market gains. Biotech and tech shares led the advance, while gold-related stocks also climbed.
