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To beat chip crunch, Chinese firm inks memory deal bigger than its sales

To beat chip crunch, Chinese firm inks memory deal bigger than its sales The US$1.86 billion multi-year flash deal with unnamed supplier underscores how downstream companies scramble to secure capacity Under the locked-volume, locked-price arrangement, Biwin would buy enterprise-grade chips in batches from the third quarter of 2026 through the second quarter of 2028, according to a filing with the Shanghai Stock Exchange on Tuesday. The supplier was not disclosed, citing commercial...

South China Morning Post 3h ago

AI hyperscaler effect vaults China’s Zhongji Innolight to top of CSI 300 benchmark

AI hyperscaler effect vaults China’s Zhongji Innolight to top of CSI 300 benchmark Maker of optical modules surpasses CATL in weighting thanks to off-the-charts demand from Alphabet, Amazon, Meta and Huawei The northern Shandong province-based company had a 5 per cent weighting on the CSI 300 Index on Friday, making it the largest of the 300 most valuable stocks on the Shanghai and Shenzhen exchanges. The index’s weighting is based on the market capitalisation of free-float shares. The...

South China Morning Post 6d ago

Hong Kong's IPO boom is developing a performance problem

BEIJING — Hong Kong may be the top market globally for initial public offerings, but it also suffers from a growing trend of weak stock performance from those debuts. The Hong Kong exchange was first in the world by IPO funds raised last year — besting the New York Stock Exchange and the Nasdaq, which came second and third respectively — according to KPMG, which noted that strong momentum in 2025 continued in the first quarter of this year. More than 600 companies are waiting to list on the...

CNBC 3d ago

MiniMax once led Zhipu in Hong Kong’s AI stock race. How the tables have turned

When Chinese artificial intelligence developers Zhipu AI and MiniMax made their debuts on the Hong Kong stock exchange in January, investors initially saw one as a better bet than the other. Beijing-based Zhipu closed its first trading day on January 8 with a market capitalisation of HK$57.9 billion (US$7.4 billion). A day later, Shanghai-based MiniMax listed at HK$106.7 billion, almost twice as large.

South China Morning Post 2d ago

Stock market crash today: Rs 5 lakh crore wealth gone! Top reasons for fall

Stock market crash today: Nifty50 and BSE Sensex crashed in opening trade on Monday, with benchmark indices extending losses as weak global cues, relentless foreign investor selling and rising geopolitical concerns dented market sentiment. The broad sell-off erased more than Rs 5 lakh crore from investor wealth, bringing the combined market capitalisation of BSE-listed companies down to around Rs 456 lakh crore.

Times of India 3d ago

US military says it intercepted Iranian missile and drone attacks in Gulf

The US military said on Tuesday that it had intercepted and defeated a series of Iranian missile and drone attacks targeting regional neighbours, including Kuwait and Bahrain, while also carrying out self-defence strikes on Iran’s Qeshm Island, according to US Central Command. Follow our liveblog for the latest developments. Oil rises on Middle East tensions as AI-fuelled stock rally continues Oil prices extended gains on Wednesday as Middle East peace talks stuttered, though stocks mostly...

France 24 8d ago

Asian stocks track Wall Street tech bounce, oil eases on Middle East hope

Asian stocks track Wall Street tech bounce, oil eases on Middle East hope The gains across most equity markets followed a rebound on Wall Street, fuelled by a race to pick up cheaper assets following a sell-off sparked by bets on a US interest rate hike and warnings over tech firms' valuations. Asian stocks enjoyed a partial rebound from the previous day's rout on Tuesday (Jun 9) as investors returned to the AI trade, while easing Middle East tensions also provided support and pushed oil...

Channel News Asia 2d ago

Asia’s stock markets dive amid Iran-Israel conflict, Wall Street jitters

Asia’s stock markets dive amid Iran-Israel conflict, Wall Street jitters South Korea’s main index plunges nearly 9 percent, while stocks in Japan, Taiwan and Hong Kong also see sharp falls. Asia’s major stock markets have dropped sharply amid the resumption of conflict between Israel and Iran and growing expectations of interest rate hikes in the United States. South Korea’s stock market suffered the steepest losses amid a region-wide sell-off on Monday, as investors followed Wall Street’s...

Al Jazeera 3d ago