CHINA TECH
Nvidia opens probe into CEO Jensen Huang over alleged affair with woman suspected of spying for China
Nvidia has launched an independent probe into CEO Jensen Huang after reports that he had an affair with a Chinese executive suspected by US intelligence of working for Beijing. Huang admitted to being unfaithful and apologised. The investigation will examine potential national security risks and possible exposure of company secrets.
AI slump revives Asia’s forgotten trades from China to India
Global investors are rethinking their Asia bets as the AI trade loses momentum following the US midterm elections. India and China are emerging as potential beneficiaries of the shift, with funds rotating towards undervalued stocks, domestic growth, healthcare, consumer companies and financials. India's limited AI exposure, easing oil prices and renewed foreign inflows are strengthening its appeal.
Diwali Patakha from China: The world's fireworks capital is reinventing its centuries-old industry
Liuyang in China's Hunan province is a significant hub for global fireworks production. The county supplies around 60% of the domestic fireworks market and 70% of exports. This industry has evolved to incorporate advanced technology, like digital ignition and AI. Although safety measures have improved since past catastrophic incidents, risks still exist.
How China's clean-tech machine is reshaping the global climate fight
In 2024, China took the lead as the top investor in global clean technology, directing $132 billion to developing nations to aid carbon reduction efforts. This unprecedented infusion of resources could potentially reshape the landscape of international climate finance.
Tech billionaires in Democrats’ crosshairs: Who could face congressional probes? Here’s the hit list
Elon Musk, Mark Zuckerberg, Jeff Bezos and other tech leaders could face congressional investigations as Democrats prepare to take control of Congress in 2027. Their scrutiny could focus on ties to Donald Trump, political influence, AI development, data center expansion and the industry's impact on American jobs and communities.
China, Hong Kong stocks fall as US tech rout sparks AI bubble fears
Chinese and Hong Kong stocks took a hit as American tech shares slumped overnight, fueling worries about the durability of the artificial intelligence surge. This uncertainty cast a shadow over investor confidence across Asia. Nevertheless, the Chinese mainland market saw some recovery driven by bargain hunters supported by government measures, though analysts caution that tech stocks in China are still at risk from global market changes.
Emerging markets lose $33.8 billion in October as investors flee Asian stocks
October witnessed an alarming withdrawal of $33.8 billion by foreign investors from emerging markets, the largest since March. Almost all of this outflow consisted of equities, severely impacting Taiwan. While Emerging Asia grappled with major losses, Latin America encountered minimal setbacks amid election related volatility. Additionally, Chinese stocks continued to see foreign sell offs for the fifth consecutive month.
Amagi, Shiprocket post profits; US polls’ impact on IT
Amagi’s Q2 profit surged nearly 30x while Shiprocket swung into the black for the first time. This and more in today’s ETtech Top 5.
Nvidia chips pile up in Hong Kong as China withholds import approval
About 600,000 of Nvidia's advanced artificial intelligence chips are stored in Hong Kong awaiting shipment to mainland China, two people familiar with the matter said, as Beijing withholds approval for large-scale imports despite demand from technology firms.
Hong Kong stocks jump 3%, China shares edge higher as tech stocks rally
Hong Kong stocks rallied sharply, led by technology and gold shares, as investors welcomed the US midterm election outcome. Alibaba and Tencent drove gains, while mainland Chinese equities advanced modestly. Energy stocks tumbled as crude oil prices plunged on hopes of easing geopolitical tensions.
Chinese chipmaker YMTC puts IPO on hold as weaker markets weigh, sources say
That process has been put on hold due to "various factors", according to an internal note YMTC sent to its staff and seen by Reuters. It did not elaborate on the factors. The delay, which two of the people said could last several months, has not been reported previously.
Oracle abandons $7 billion Tencent AI deal under Trump pressure: FT
US officials approached Oracle to raise concerns about the Tencent deal, the newspaper said, citing people familiar with the matter.
He left his teaching job to make adhesive tapes; now Crown New Materials' 787% IPO surge has made him a billionaire
He once worked as an elementary school teacher. Today, Mai Huiquan and his sister Mai Huixia are at the centre of one of China's biggest stock market debut stories. Their company, Crown New Materials, saw its shares jump 787% on November 3, turning its IPO into a major talking point among investors.
Are Russia, China, Iran planning to carry out large scale cyberattacks bigger than Europe supermarket fridges hacking? Top Britain official reveals shocking details
Moscow, Beijing and Tehran have all repeatedly denied similar accusations of malevolent cyber actions in the past.
Yuan hovers near four-year high as investors eye US midterm elections
China’s yuan traded near a more than four-year high against the US dollar, supported by expectations of further appreciation. Investors tracked the central bank’s currency guidance, policy measures and potential market implications of the US midterm elections.
China’s 5,000-ton digging machines are a trade war risk to India
China is tightening export controls on tunnel-boring machines and other specialised construction equipment, raising concerns that the restrictions could disrupt India's infrastructure projects, particularly along the disputed Himalayan border.
China's robot makers have mastered the moves. Now comes the race for brains
The shift is fuelling an investment boom in embodied AI, a field focused on software that allows robots to understand their surroundings, learn unfamiliar tasks and adapt without having to be programmed for every job.
Global Market: China stocks fall as tech selloff deepens despite Fed rate pause
Chinese stocks declined as a sharp selloff in technology and AI-related shares outweighed the US Federal Reserve’s decision to keep interest rates unchanged. The Shanghai Composite fell 0.9%, while the CSI300 dropped 1.2% and the STAR50 tumbled 4.2%.
China's new export curbs draw a line around its AI crown jewels
The draft rules, released on October 16, distinguish between foreign customers using Chinese AI services and foreign companies obtaining the models, data or expertise needed to operate or reproduce them independently.
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