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Huawei paper shows Tau Scaling Law chip solves overheating ahead of Kirin 2026 launch
Markets

Huawei paper shows Tau Scaling Law chip solves overheating ahead of Kirin 2026 launch

The research directly counters claims that vertical stacking creates a thermal bottleneck, the tech giant’s paper says It was published on Friday on ChinaXiv, a publication platform for scientific papers that have yet to be peer reviewed. Despite heat being “the sharpest concern on Tau Scaling Law”, the company’s measurements for its new Kirin chip “turned that objection upside down”, He wrote. The paper said the Kirin 2026 chip ran cooler than its predecessor, while packing 55 per cent more transistors per square millimetre and cutting power use by up to 66 per cent on some key tasks. The new chip reduces power consumption while increasing transistor density, allowing it to flexibly switch between functional constraints and peak performance

Which overseas property markets will be the winners and losers if Fed raises US rates?
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Which overseas property markets will be the winners and losers if Fed raises US rates?

Fed chairman’s focus on inflation at meeting last month has heightened expectations of monetary tightening Comments by US Federal Reserve chairman Kevin Warsh at its annual economic policy symposium in Jackson Hole last month have reinforced expectations of an impending interest rate rise in the world’s largest economy, which would have significant impacts on assets and investors around the world. In the wake of Warsh’s comments, analysts said several property markets were more sensitive to higher interest rates in the United States and some stood to benefit. With the local currency pegged to the US dollar in a trading band of HK$7.75 to HK$7.85, property agents said any Fed movement would be mirrored by the Hong Kong Monetary Authority (HKMA), the city’s de facto central bank. “The HKMA’s base rate tracks the Fed’s moves and borrowing costs linked to Hibor [the Hong Kong interbank offered rate] follow suit,” said Pamela Ambler, head of Asia-Pacific investor intelligence at consultancy JLL.

Tesla to exhibit Cybercab robotaxi in China: can it spark buzz amid slow sales?
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Tesla to exhibit Cybercab robotaxi in China: can it spark buzz amid slow sales?

While the company stresses the tour does not signal the vehicle will be sold in China, some observers believe it could still bolster the brand’s position Tesla is facing weaker sales in China this year, but the American electric vehicle (EV) manufacturer is looking to generate a buzz in its second-largest market by exhibiting its new self-driving vehicle, the Cybercab. The robotaxi – which operates entirely without a steering wheel, pedals or rear-view mirrors – would debut in major Chinese cities, including Beijing and Shanghai, starting mid-September in a showcase of product design and technological sophistication, according to Tesla China. However, the company clarified that the Cybercab exhibition did not indicate the cars would be sold in China, nor that Tesla’s robotaxi business would operate there any time soon. Still, industry observers and automotive dealers noted that the promotional tour could strengthen Tesla’s brand visibility in the world’s largest EV market, bringing potential longer-term benefits. “It will convince thousands of visitors at Tesla showrooms that the company remains a global leader in autonomous driving,” said Steve Shi, a manager at Juchen Auto Trade, a China-based car service firm.

After Evergrande, China’s new rules spark unease amid developers’ debt resolution progress
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After Evergrande, China’s new rules spark unease amid developers’ debt resolution progress

China’s property downturn worsens as regulators accelerate reform of the commercial housing sales system, sending jitters through the sector Despite the difficulty, better-capitalised state-owned enterprises would prove more resilient and should gain market shares amid uncertain earnings outlooks, they added. Chinese authorities issued a joint notice on August 28 to accelerate reform of the commercial housing sales system, with a clear push towards completed-home sales. “While the direction has been signposted before, the timing is a meaningful negative surprise,” Kwok said.

Rich Dad, Poor Dad author’s vast debts spark awe – and some bitterness – in China
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Rich Dad, Poor Dad author’s vast debts spark awe – and some bitterness – in China

Robert Kiyosaki’s claim to be US$1.2 billion in debt has sparked heated debate in China, where property investors have suffered steep losses The revelation that Rich Dad, Poor Dad author Robert Kiyosaki has amassed a staggering debt pile has sparked heated discussion in China, where property investors have suffered painful losses in recent years amid a deep market downturn. The 79-year-old Japanese-American author, who inspired generations of investors to take on leverage to scale up their investments, claimed in a series of podcast interviews over the summer that he owed US$1.2 billion. His ex-wife and long-term business partner Kim Kiyosaki clarified in an interview with Vanity Fair in late August that the figure covered borrowings related to investments in roughly 1,500 flats, which were shared with his partners rather than personal liabilities. Others recalled reading the book when they were younger and credited it for encouraging them to invest in stocks and funds, in posts on the Chinese social media platform RedNote.

New reality for China’s entertainment sector as AI drama goes prime time
Markets

New reality for China’s entertainment sector as AI drama goes prime time

Fully AI-generated, 30-episode Journey to the West series debuts, as shifting production economics transform the industry This week, the format graduated to prime time. A fully AI-generated adaptation of the classic Chinese novel Journey to the West debuted on Hunan Satellite Television, a major state-owned broadcaster known for its hit entertainment programming and its streaming platform Mango TV. The 30-episode series, with each instalment running about 40 minutes, went from commission to broadcast in just three months. Production is still ongoing – the director told local media that later episodes would be continuously refined based on audience feedback. The premiere delivered a sharp jolt to China’s long-depressed media and entertainment sector. Shares in Mango Excellent Media, the listed unit of the Hunan broadcaster, hit their 20 per cent daily trading limit twice this week before paring gains. The surge added more than 13 billion yuan (US$1.9 billion) to its market value, signalling a strong return of investor enthusiasm. “This sends a clear signal of policy support,” said Guo Guo, a Beijing-based producer at a leading film and television company. “AI drama is going mainstream.”

Inside Hong Kong’s red-hot Pokemon card market, where Pikachus sell like stocks
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Inside Hong Kong’s red-hot Pokemon card market, where Pikachus sell like stocks

Hong Kong has evolved into a global centre for the booming Pokemon card trading market, with rare collectibles traded via tokenised funds Not so long ago, Pokemon cards were little more than schoolyard treasures in Hong Kong. But the trading cards are now evolving into a sophisticated new asset class, driven by millennial nostalgia and the forces of global capital. Pokemon card valuations have skyrocketed around the world in recent years, with influencer Logan Paul making headlines in 2021 by spending over US$5 million to acquire a Pikachu Illustrator card. It has since been resold for nearly US$16.5 million. Collectors, speculators and even institutions in Hong Kong are increasingly investing in this risky new asset class, as appetite for alternative investments grows in the city’s financial sector. “The demand is coming from a real and growing collector base, not just short-term speculation,” said Albert Cheng, business director for Hong Kong, Taiwan and North Asia at Azimut Group. “We’re also seeing a generational shift where younger investors are putting money into assets they actually relate to and enjoy, like Pokemon cards.”

Hong Kong’s Silver Bonds draw record 480,000 bids with higher interest rate
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Hong Kong’s Silver Bonds draw record 480,000 bids with higher interest rate

Hong Kong is expected to raise the final issuance to the upper limit of HK$55 billion, as applications from elderly investors have surged Investors submitted 478,000 bids for HK$119.8 billion (US$15.28 billion) worth of bonds during the offering period, which ended at 2pm on Friday, according to a government spokesman. In light of the strong demand, the government is expected to raise the final issuance to the upper limit of HK$55 billion, from the original HK$50 billion, according to the spokesman. The Hong Kong Monetary Authority will announce the final allotment results on September 11, with the bonds set to be issued on September 15. About 60 per cent of traders expected the Fed to implement a 0.25 percentage point rate increase as of Thursday, while 40 per cent expected no rate change, according to data from CME FedWatch, which is based on Fed funds futures contracts.

Bargain sale, collapsed deal reflect Hong Kong’s struggling retail property market
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Bargain sale, collapsed deal reflect Hong Kong’s struggling retail property market

While North Point shop deal falls through, former home of Insomnia bar in Lan Kwai Fong sells for 60 per cent less than its 2015 value A foreclosure sale in Hong Kong’s Lan Kwai Fong area and a cancelled shop transaction in North Point reflect the impact of weak consumer spending on Hong Kong’s retail property market, which will remain under pressure through the end of the year, according to analysts. The Lan Kwai Fong property, home of well-known bar Insomnia until it closed in 2024, recently changed hands for 60 per cent less than its value in a 2015 sale. Meanwhile, the deal for the large street shop on King’s Road in North Point abruptly fell through after two months. The retail property market would continue to struggle through the end of the year because banks were unwilling to lend, while the future outlook depended on whether they were prepared to loosen the credit taps, said Edwin Lee, founder and CEO of Bridgeway Prime Shop Fund Management. “There are still many foreclosed properties on the market, but the biggest issue is that banks are taking a very cautious stance on commercial real estate mortgages,” he said.

Can Hong Kong outshine Singapore as central banks rethink gold custody amid global risks?
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Can Hong Kong outshine Singapore as central banks rethink gold custody amid global risks?

City in race to lure bullion custody as geopolitical risks intensify scrutiny of gold storage, Goldman Sachs report says The city faces competition from Singapore, which is expected to launch central bank gold-vaulting services in October as part of efforts to cement its status as a gold trading hub in Asia. Where central banks chose to store gold came down to three factors, said Iggy Ioppe, a Wall Street veteran with more than two decades of experience across proprietary trading and private capital markets. “Legal certainty, political neutrality and the ability to get the metal out and use it in a crisis without needing anyone’s permission,” he said. “Hong Kong has no capital controls today and free convertibility is foundational policy. [The question] is what a reserve manager believes about them under stress, 10 to 20 years out.” Where central banks stored gold appeared increasingly a growing priority for reserve managers, according to a Goldman Sachs report on August 14.

China’s AI ‘little giant’ Yunxi Technology files for Hong Kong IPO: sources
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China’s AI ‘little giant’ Yunxi Technology files for Hong Kong IPO: sources

The confidential filing could see the hi-tech provider listed in Hong Kong by year-end Yunxi Technology, officially one of China’s “little giants”, has submitted a confidential initial public offering application to Hong Kong’s stock exchange, according to people familiar with the matter. The Guangzhou-based start-up was valued at 10 billion yuan (US$1.27 billion) in its latest private funding round and was working with Bocom International on the deal, aiming to raise “several hundred million [US] dollars”, said the people, who asked not to be named because of the sensitivity of the issue. While the listing is targeted to take place by the end of this year, the timing and size remain subject to change, the people said. High-profile backers include Chinese billionaire Jack Ma’s Yunfeng Capital and investment firm HSG Capital. Yunxi did not immediately respond to South China Morning Post’s request for comment. Founded in 2016, Yunxi provides end-to-end digital growth products and tools to help major clients across the consumer goods, retail, real estate and automotive sectors integrate artificial intelligence into their operations.

Hong Kong’s 106 billionaires, Treasury yields hit recent highs: the numbers moving markets
Markets

Hong Kong’s 106 billionaires, Treasury yields hit recent highs: the numbers moving markets

China’s expanding outbound capital and US bonds’ surging yields are in spotlight this week China has been expanding its outbound-investment channels, with a new quota granted and greater overseas allocation by the nation’s pension fund. However, the financial world beyond the mainland is seeing volatility as US bond yields hit 20-month highs. Here are some of the figures that have drawn the most market attention this week. Eighteen money managers, including China Asset Management and GF Fund Management, received US$100 million each, while more than 20 Chinese banks’ wealth-management units received quotas for the first time.