Companies, markets, the economy and personal finance.
Tesla is set to unveil its redesigned Roadster electric sports car on Thursday, nearly nine years after a prototype was shown. The car, priced at $200,000 with a $50,000 reservation fee, is seen as a "halo car" showcasing Tesla's engineering, though CEO Elon Musk has downplayed its financial impact.
The S&P 500 closed higher on Thursday, rebounding from early losses as investors shifted from AI-related stocks into healthcare and consumer names. Nvidia fell 1.8 per cent after TSMC struck a cautious note on 2027, while Eli Lilly and UnitedHealth gained over 2.8 per cent.
US producer prices rose 1.3 per cent in September, the largest gain since March 2022, driven by surging energy and services costs. The annual rate climbed to 6.3 per cent, reinforcing expectations of another Federal Reserve rate hike this month.
The Nasdaq fell to near one-month lows on Thursday as concerns that higher interest rates could hurt artificial-intelligence investments deepened a sell-off in AI-linked stocks. Fresh data also confirmed building price pressures in the US economy, weighing on broader market sentiment.
US retail sales rose 0.8 per cent in September, beating expectations, driven by a 7.1 per cent jump in gasoline prices. Core sales, however, edged up just 0.1 per cent, suggesting moderate spending elsewhere and tempering forecasts for robust consumer spending growth in the third quarter.
Bank of China (Hong Kong), the sole yuan clearing bank in the city, plans to issue up to 22.2 billion yuan in onshore interbank certificates of deposit this year, becoming the first offshore clearing bank granted such a quota. The move aims to boost Hong Kong's status as a leading offshore yuan hub.
HSBC's Asia and Middle East co-CEO says the bank will double its 150-strong Hong Kong artificial intelligence team within two to three years, and will set up a global AI research institute in the city in early 2027. The bank has tested two generative AI use cases under Hong Kong's regulatory sandbox
CTF Media & Entertainment, formerly i-CABLE Communications, unveiled a new logo on Thursday as part of a plan to build an integrated media and entertainment ecosystem. The company will invest in overseas music and sporting events, open a live house in Hong Kong, and venture into e-commerce and integ
A record 20 Chinese car brands at the Paris show highlight the pressure on the crowded sector as domestic sales fall. Analysts say success in Europe, the most profitable open market, may determine which automakers survive consolidation.
Hong Kong University projects the city's real economy grew 3.7 per cent year-on-year in the third quarter, slowing from Q2, with fourth-quarter growth easing to 2.8 per cent. Full-year growth is forecast at 4.1 per cent, revised up 0.4 percentage points.
Hong Kong shares fell 1.03 per cent on Thursday amid a global tech selloff, with the Hang Seng Index closing at 24,062 points. Lenovo led blue-chip losses, sliding 14.5 per cent, while Chinese AI firms also slumped sharply.
Hong Kong shares fell 1 per cent on Wednesday, with the Hang Seng Index closing at 24,062 after losing 251 points. Chip and artificial-intelligence stocks suffered heavy selling, while some pharmaceutical, banking and consumer names bucked the trend.
Japan's Nikkei plunged 4.9 per cent on Thursday as tech stocks were hammered by concerns over AI-related debt and hot US inflation data. Chip equipment makers led the decline, while defensive pharmaceutical stocks gained as investors rotated away from risk.
PetroChina International will bunker a vessel with liquefied natural gas in Singapore for the first time on Thursday, its chairman said, expanding alternative-fuel options at the world's top refuelling port. The company also completes a methanol bunker vessel acquisition on Friday amid rapid growth
TSMC reported a sixth consecutive quarter of record net profit, driven by strong demand for AI chips and advanced packaging. Net profit for July to September rose 69 per cent year on year to NT$763.1 billion, beating analyst forecasts. The company faces investor scrutiny over US interest rate concer
The cost of insuring against US tech defaults has hit record highs, reflecting investor concern over AI investments and mounting debt. Oracle, SoftBank and CoreWeave saw credit default swap spreads widen sharply, with CoreWeave's debt prices tumbling.
Taiwanese President Lai Ching-te called on Micron Technology and its Taiwan workers to negotiate sincerely over a bonus dispute that could lead to a strike. Speaking at a new Micron facility, he urged harmonious labour relations, while Micron said 2027 capacity is already sold out.
The IMF forecasts Asia-Pacific growth of 4.8 per cent this year and 4.4 per cent in 2027, above April projections but below last year's 5 per cent. It warns that energy shocks from Middle East conflict, a possible AI boom slowdown and rising global bond yields could heighten downside risks for the r
Hong Kong shares fell sharply by noon on 15 October, with the Hang Seng Index dropping 1.47 per cent to 23,955 points. The decline was led by tech shares, as the Hang Seng Tech Index slid 2.94 per cent and mainland indices also fell.
J&T Express reported a nearly 25 per cent year-on-year rise in global parcel volume to 9.584 billion parcels in the third quarter, with daily volume exceeding 100 million for a second straight quarter. China volumes grew over 15 per cent, while Southeast Asia surged more than 44 per cent.
CoreWeave chief executive Mike Intrator told employees that markets can sometimes act irrationally after shares fell about 15 per cent, and said the company's backlog more than covers its debt obligations. The AI cloud provider reported a US$104.2 billion revenue backlog in the second quarter and ov
Bank of Japan board member Junko Koeda said the central bank should not be overly cautious about raising rates, citing upside inflation risks and accommodative financial conditions. She noted underlying inflation is anchoring around the 2 per cent target and wages are rising steadily.
UBS is preparing contingency plans that could include relocating its headquarters from Switzerland if lawmakers tighten capital requirements, the Wall Street Journal reported. Options include acquiring a US financial institution, merging with a European rival, or selling to a US bank.
New World Development expects to issue about US$189.1 million in new secured notes due 2032 after receiving sufficient tenders in the early phase of its debt exchange offer. The offer covers three US dollar-denominated note series worth about US$991 million, with settlement expected on October 20.
San Francisco Fed President Mary Daly said further rate hikes are likely needed to curb inflation, but the central bank can wait until its October meeting to decide. She argued the labor market's stability gives policymakers time to deliberate rather than react to one month of data.
South Korea triggered a sell-side 'sidecar' trading halt on Thursday as the KOSPI plunged more than 7 per cent, tracking a tech-led Wall Street selloff driven by sticky US inflation data. Chipmakers Samsung Electronics and SK Hynix led the decline, with the benchmark set for its longest losing strea
Hong Kong stocks opened lower on Thursday as hotter-than-expected US inflation boosted expectations of a December rate hike. The Hang Seng Index fell 0.8 per cent, with tech and chip stocks leading declines.
Citigroup now expects the Federal Reserve to raise interest rates by 25 basis points in December, after US consumer inflation data for September came in significantly above expectations. The brokerage had previously been the lone holdout forecasting no further rate moves this year.
Wall Street's main indexes opened lower on 14 October after a hotter-than-expected inflation report increased the likelihood of an interest rate hike this month. Investors also parsed earnings from major banks. The Dow, S&P 500, and Nasdaq all fell at the opening bell.
Netflix is laying off about 6 per cent of its workforce, or roughly 1,000 jobs, the Wall Street Journal reported. The cuts are the streaming giant's largest since 2022 and will mainly affect product, tech, legal and HR teams.
Japan will invest up to US$21 billion in two chip factories in New York state, jointly owned by the US and Japan and operated by GlobalFoundries. The deal is part of a US$550 billion investment pact with the US, which will take a stake in the factories and a 4 per cent stake in GlobalFoundries.
Billionaire investor Ray Dalio warns the US bond selloff is far from over, with surging government borrowing and fading demand from major buyers like China and Japan. He says the 'death spiral' of rising yields and deficits will continue until higher rates weaken the economy enough to restore balanc
US consumer prices rose 0.6 per cent in September, driven by a 7.1 per cent surge in gasoline costs, pushing annual inflation to 3.7 per cent. Core inflation also firmed, raising expectations of a Federal Reserve rate hike this month.
Federal Reserve Vice Chair Michelle Bowman said on Wednesday there is no urgency for further rate moves, as the central bank monitors markets after September's hike. She also urged a 'complete reorganization' of Fed supervision following the Silicon Valley Bank collapse and highlighted capital needs
Swire Properties and China Tourism Group Duty Free have named their first resort-style retail development CDF Taikoo Li Sanya in Hainan. The 210,000-square-metre project, part of the cdf Sanya complex, will open in phases starting this year, blending retail, arts and tropical leisure.
Hong Kong shares edged down on Wednesday, with the Hang Seng Index dipping 0.13 per cent, despite gains in tech stocks. Meituan led blue chips with a 6.6 per cent rise, while biopharmaceutical firms dragged the market.
Nvidia chief executive Jensen Huang announced a fresh US$2 billion investment in Europe during his visit, on top of US$8 billion invested over the past year. He met French President Emmanuel Macron, discussed AI security and open-source software, and backed new funding for French startups while reje
IMF Managing Director Kristalina Georgieva urged member countries to deliver on funding commitments for the Poverty Reduction and Growth Trust, warning that economic pressures and rapid AI development could widen the gap between advanced and developing economies. She also called for fresh contributi
PICC Property and Casualty issued Hong Kong's first insurance-linked securities sidecar, worth US$12 million, to support mainland offshore wind farm reinsurance. Officials say the deal advances Hong Kong's role as a global risk management hub and plans to ease investor rules and introduce protected
SK Group Chairman Chey Tae-won has agreed to sell a 1.34 per cent stake in SK Inc to a fund linked to Michael Dell's family office for US$406 million, part of a plan to raise 944 billion won for his divorce settlement. The deal raises governance questions in South Korea.
The European Union is pursuing closer ties with Vietnam on critical minerals to reduce reliance on China, according to internal documents. The bloc plans financial support for Vietnam's mining and processing industry, ahead of a visit by Vietnamese leader To Lam to Brussels next week.
HKEX's Core Climate has completed two cross-border pilots with Guangzhou Power Exchange and Shenzhen Green Exchange, boosting green certificate trading and carbon market connectivity in the Greater Bay Area. A cooperation agreement supports China's green power certificate market.
US President Donald Trump said Taiwan has agreed to buy 30 per cent of liquefied natural gas from an Alaska pipeline project, with Commerce Secretary Howard Lutnick adding that Taiwan committed to invest $4.4 billion. Taiwan's government did not confirm the deal, and details remain unclear.
The US Treasury fined Bank of America US$1.21 billion for failing to report over US$5 billion in suspicious activity, including US$1 billion tied to national security risks. The penalty, the third-largest in Treasury history, includes a record US$750 million civil penalty from the OCC.
Tencent has priced US$1.8 billion in US dollar notes and 26 billion yuan in yuan-denominated notes under its global medium-term note programme. Proceeds will go towards general corporate purposes, with the notes due between 2036 and 2056 and listed on the Hong Kong Stock Exchange.
Singapore's central bank kept monetary settings unchanged on Wednesday, surprising analysts who had expected tightening. The MAS cited easing growth and inflation as the AI boom moderates, and narrowed its core inflation forecast to 1.5-2 per cent.
Two Federal Reserve officials said the US central bank likely needs to raise interest rates once more this year to curb inflation. New York Fed President John Williams and Boston Fed President Susan Collins both signalled further tightening, though future moves would depend on incoming data.
Apple chairman Tim Cook appeared at Tsinghua University in Beijing on October 13 for the 2026 advisory board meeting of the School of Economics and Management. The board, chaired by Cook, includes tech leaders and gained three new members this year, including Jensen Huang and Lisa Su.
US stocks opened mixed on Tuesday as chip shares fell and investors weighed bank earnings. The Dow rose 0.47 per cent while the S&P 500 and Nasdaq slipped 0.15 and 0.39 per cent respectively.
Citigroup beat Wall Street estimates for third-quarter profit, helped by stronger investment banking and wealth management revenue. Trading profits rose only 2 per cent year on year amid market volatility and higher interest rates, while the bank reaffirmed its return target of 11 per cent.
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