From chasing robots to chasing profits: the numbers moving markets

Unitree Robotics, US inflation rates, gold prices, Hong Kong homes and CK Hutchison’s interim results were in the spotlight this week While Chinese investors faced down long odds for a stake in Unitree Robotics amid a broader frenzy for high-performing tech stocks, the market this week also focused on the implications of July’s US inflation rate, gold price trends and the interim results of CK Hutchison Holdings, one of the flagship companies owned by the family of Hong Kong billionaire Li Ka-shing. The slim subscription odds for the Hangzhou-based maker of embodied artificial intelligence hardware undercut those of other recent tech debuts, including the 0.47 per cent rate seen in July for memory chip maker ChangXin Memory Technologies. Unitree raised 6.1 billion yuan (US$904 million) at 150.80 yuan a share, giving the robotics pioneer a valuation of 60.99 billion yuan. Only 24 per cent of affluent residents with at least HK$1 million (US$127,449) in investible assets cited home ownership as a key life goal, placing it seventh.

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