Hong Kong stocks retreated by the most in nearly a year on Monday alongside risk assets in Asia, while oil and gold surged after the US strikes on Iran, reports the South China Morning Post. This comes as surging geopolitical risks sparked a risk-off mode among investors. The Hang Seng Index closed 2.12% down at 26,067.27. At […]
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Airline shares plunged on Monday, with Hong Kong’s Cathay Pacific down more than 5%, and Air China, China Southern Airlines, China Eastern Airlines fell at least 4% after the US and Israel launched weekend strikes on Iran, disrupting travel and sending oil prices surging, reports Reuters. Global air travel remained in turmoil on Monday as war […]
China sharply reduced tariffs on Canadian canola over the weekend, reports Caixin. The moves marks a major de-escalation in bilateral trade tensions following Canadian Prime Minister Mark Carney’s recent visit. China’s Ministry of Commerce confirmed Saturday that it would impose a 5.9% anti-dumping duty on Canadian canola, effective March 1 and lasting five years. The rate […]
Major carmakers in China have launched a new wave of price cuts and financing incentives immediately after the Spring Festival holiday, reports Caixin. Manufacturers aim to clear excess inventories as sales slow in the world’s largest auto market. SAIC General Motors’ Buick brand said Thursday that it would lower prices on multiple models by RMB 5,000 […]
WeRide, one of China’s big three robotaxi companies, has cut research and development (R&D) costs by “millions” of US dollars by using artificial intelligence to train its fleet in virtual worlds, reports the South China Morning Post citing the company’s CEO. While rivals have also developed AI models simulating the physical world, WeRide’s efforts stood out as […]