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Markets

Chinese chip ETFs pause trading as they warn of soaring premium risks

With two funds trading at least 30 per cent above net asset values, the large premiums would trigger sell-offs when sentiment turns Hutai-PineBridge CSI KRX China-Korea Semiconductor ETF, which invests in Chinese and South Korean chipmakers, was suspended from trading for an hour on the Shanghai Stock Exchange on Thursday, citing the risk of outsize gains. Meanwhile, Invesco Great Wall Global Semiconductor Chips Industry Equity Fund also paused dealing for an hour on the Shanghai bourse for a similar reason. “On top of the changes of net asset values, the fund’s trading price is also subjected to other factors such as the supply-demand relationships on the market, systemic risks and liquidity risks, which all could incur losses for investors,” said Huatai-PB Investments, the money manager of the China-Korea semiconductor ETF, in a statement filed with the exchange. “Investors should watch out for the premium risk from trading on the secondary market.” The China-Korea semiconductor ETF rose 1.7 per cent to 6.237 yuan in Shanghai after the trading halt, leaving it trading at a 33 per cent premium to its net asset value after an upsurge of 142 per cent this year.

May 14, 2026

Markets

Alibaba shares surge 7% in Hong Kong as firm accelerates pivot to AI

The Chinese tech giant’s New York-listed shares also closed up 8.2 per cent on Wednesday, after it reported triple-digit growth in AI revenues Shares of Alibaba Group Holding opened up 7.8 per cent in Hong Kong, after the firm reported strong growth from its artificial intelligence products and ramped up its commitment to the technology. The Chinese tech giant also saw its New York-listed shares surge 8.2 per cent on Wednesday, closing at US$145.81, after it confirmed that revenues from AI-related products had hit 8.97 billion yuan (US$1.3 billion) in the first quarter. The company said the segment had now registered triple-digit growth for 11 consecutive quarters. It expected its annualised recurring revenue from AI models and applications to hit 30 billion yuan by the year’s end, while AI products are projected to generate more than 50 per cent of Alibaba’s cloud-computing revenue within the next year. Alibaba’s total revenues reached 243.4 billion yuan in the first three months of 2026, missing the Bloomberg consensus estimate of 246.5 billion yuan.

May 14, 2026

Markets

Olea $30M Series A paves the way for AI-Powered trade finance, backed by BBVA and global investors

[The content of this article has been produced by our advertising partner.] In the world of global trade, businesses of all sizes face a common challenge: lengthy payment cycles and complex cross-border processes that stifle growth and operational efficiency. Take Chinese suppliers shipping goods to retail giants like Walmart or Target. After delivering their products, they typically wait 45 to 90 days to get paid. This long cash conversion cycle strains even healthy businesses, limiting their ability to scale operations or take on new projects. Olea Global Pte. Ltd. ("Olea"), a leading digitized trade finance platform, is changing this reality. Fresh from a $30 million Series A funding round led by global financial powerhouse BBVA, Olea is using the power of AI and blockchain to reshape the future of global trade. This significant investment not only validates Olea's innovative model but also fuels its global expansion and technological development, positioning the company as a key player in the evolving trade finance landscape. At its core, Olea offers an intelligent receivables financing solution that addresses the critical issue of delayed payments head-on.

May 13, 2026

Markets

Alibaba CEO signals capex boost as China tech giant forges full-stack AI path

Alibaba’s quarterly revenue arrived largely in line with estimates as the tech giant disclosed its first AI sales data, and in early US trading, the shares jumped 6% Alibaba Group Holding expects its annualised recurring revenue from AI models and applications to hit 30 billion yuan (US$4.42 billion) by the year’s end, as the company ramps up its AI commitment. AI products are projected to generate more than 50 per cent of Alibaba’s cloud-computing revenue within the next year, as the tech giant looks to step up its AI monetisation efforts. Alibaba CEO Eddie Wu Yongming said the company was likely to “overshoot” the original capital-expenditure target of 380 billion yuan, citing the massive investment required for the buildout of AI data centres. The company on Wednesday disclosed quarterly revenue of AI-related products for the first time, reporting that the segment has registered triple-digit growth for an eleventh consecutive quarter. The surge helped bolster a 3 per cent overall revenue increase that was largely in line with market expectations. AI-related product revenue hit 8.97 billion yuan, the company said in a filing to the Hong Kong stock exchange, as the segment continues to show strong momentum.

May 13, 2026

Markets

Tesla lures budget-conscious Chinese buyers with cheap loans ahead of state visit by Trump

Tesla China has launched a new financing scheme to attract more budget-conscious buyers after its sales in the world’s largest electric vehicle (EV) market fell behind its domestic rivals. The US carmaker said on Wednesday that the down payment for a Shanghai-made Model 3 vehicle – priced at 235,500 yuan (US$34,672) – would be slashed to 55,900 yuan from 79,900 yuan if the buyer chose a five-year car loan offered by Tesla. “Our strong products, combined with attractive incentives for car...

May 13, 2026

Markets

Tencent misses first-quarter revenue estimates, bets on AI for new growth

CEO Pony Ma told shareholders there was the beginning of a turnaround, but that the company was ‘not yet seated’ Facing scrutiny and persistent questions over its track record in artificial intelligence, Tencent Holdings’ co-founder and CEO Pony Ma Huateng offered this candid assessment to shareholders on Wednesday: “A year ago we thought we were on the boat, then we found it was leaking.” Speaking at the firm’s annual general meeting at the Four Seasons Hotel in Hong Kong, Ma signalled the beginnings of a turnaround, saying that the company had finally found its footing but was “not yet seated”. “We hope the ship can go a bit faster,” he said ahead of first quarter earnings that missed estimates amid a slowdown in gaming sales growth. A major AI milestone for the company this year was the launch of “Hy3 preview”, Tencent’s first flagship model since former OpenAI researcher Yao Shunyu joined the Shenzhen-based tech giant to lead its foundational AI development efforts. Since its launch in April, Hy3 preview, a relatively small model with only 295 billion parameters, quickly rose to the top of the leaderboard of OpenRouter, an AI hosting platform, in terms of token usage.

May 13, 2026

Markets

Hong Kong’s first biodiversity loan goes to Henderson Land for Central Yards green spaces

Loan from HSBC and Hang Seng Bank, reportedly worth US$12.8 million, enhances city’s stature in sustainable finance, parties say This loan would provide a “scalable blueprint” for companies to achieve their sustainability goals and enhance Hong Kong’s position as a leading international sustainable finance centre, according to the two banks. The proceeds would support smart systems to support the maintenance and management of a newly established urban forest populated by native plant species, as well as surveys, assessments and monitoring of urban biodiversity at the project, according to the statement released by the developer and the banks. The loan showed how sustainable financing could “help businesses integrate urban development with ecological development”, said Matthew Hung, head of global corporates in Hong Kong for HSBC, adding that it would also enhance “Hong Kong’s position as a leading international sustainable finance centre”. The parties did not disclose the loan size, but it was estimated at about HK$100 million, according to sources familiar with the matter. As part of the project, more than 400 trees and about 280 plant species would be planted across multiple gardens, the parties said.

May 13, 2026

Markets

Chinese brands eye Europe; Geely joins Chery and BYD in profit slide: 7 EV reads

We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. From Beijing to Berlin: Chinese EVs turn heads as brands eye European markets For German consumer Erik Böhme, a first visit to the Beijing auto show was an eye-opener – the world’s largest car exhibition showcased a vast array of electric vehicle (EV) brands, many already gaining...

May 13, 2026

Markets

Chinese tech indexes close at all-time highs as investors await Trump-Xi summit

Both the ChiNext and SSE Star 50 indexes closed at record highs on Wednesday, as investor optimism over China’s tech sector surges China’s tech-heavy ChiNext Index surged to an all-time high on Wednesday, closing past the 4,000-point mark as investor optimism rose ahead of US President Donald Trump’s trip to Beijing. The index, which tracks tech firms listed on Shenzhen’s Nasdaq-style ChiNext board, reached 4,038.33 by market close, its highest finish on record. Other Chinese stock indexes also made strong gains, with the Shanghai Composite Index rising to its highest level since 2015. In a Wednesday note, Morgan Stanley said China’s equities market could see “moderate upside by the second quarter of 2027” based on “improved earnings and growing dominance in global upstream supply chains”.

May 13, 2026

Markets

Xi-Trump meeting could lift Chinese stocks 12%: Morgan Stanley

‘Moderate’ upside is possible as investors ‘direct attention back to China somewhat’, assuming trade truce is extended, bank says The bull case stretches to 27 per cent for the MSCI China gauge if the bilateral relationship improves and China breaks out of its deflation cycle. “We believe moderate index level upside is possible” based on the truce continuing, said the investment bank’s equity strategists. Investors would “direct attention back to China somewhat, after being occupied by the Middle East/Hormuz situation”, as well as the AI-related “supercycle” that had been making neighbouring markets such as South Korea, Taiwan and Japan “stand out more”, they said.

May 13, 2026

Markets

Pop Mart expands IP empire with debut dessert store in Hebei province

In the first three months, revenue in China alone surged 100 to 105 per cent, while growth was 25 to 30 per cent in Asia-Pacific Chinese toymaker Pop Mart is set to open its first official physical Pop Bakery store in the coastal community of Aranya in Qinhuangdao, Hebei province. The outlet will mainly sell desserts, as the company continues to diversify its business portfolio to sustain the value of its intellectual property (IP) and generate income beyond pop toys. The plan comes as the Hong Kong-listed company announced strong first-quarter growth on Tuesday, with total revenue surging 75 to 80 per cent year on year. In the first three months, revenue in China alone surged 100 to 105 per cent, while growth was 25 to 30 per cent in Asia-Pacific, 55 to 60 per cent in the Americas, and 60 to 65 per cent in Europe and other regions. Offline sales grew 75 to 80 per cent year on year, while online revenue surged 150 to 155 per cent. The company did not announce net profit or revenue figures for the quarter. Pop Bakery, an independent dessert brand under Pop Mart, would sell desserts and tea drinks, with desserts as its core business, according to people familiar with the matter.

May 12, 2026

Markets

Hong Kong gold push delivers record US$732 million ETF inflows in April

As investors hedge against global risks, Hong Kong’s gold ETF inflows reinforce its emergence as a key trading centre Hong Kong’s push to become a gold trading hub is beginning to bear fruit, with the city recording a surge in gold exchange-traded fund (ETF) inflows in April as geopolitical tensions fuel investor demand for the yellow metal, according to industry participants. Physically backed gold ETFs in Hong Kong attracted a record US$732 million last month, according to the World Gold Council. That represented 41 per cent of Asia’s US$1.8 billion inflows and 11 per cent of the global total of US$6.6 billion. The CSOP Gold ETF, which listed in April on the Hong Kong stock exchange, debuted with assets under management of about US$720 million, making it the city’s largest local physical gold ETF to date. Five gold ETFs with combined assets of HK$28 billion (US$3.6 billion) were listed as of April, exchange data showed. These products give investors a straightforward way to trade gold, much like buying and selling stocks. The CSOP Gold ETF directly holds 4.7 tonnes of physical gold stored in Hong Kong, offering investors the option to redeem bullion.

May 12, 2026