GMT EIGHT - Commercial - Investment&Financing

Comprehensive Subsidy Phase-Out: Is China’s Auto Market Nervous Ahead of Golden Week?

Chery Automobile’s Hong Kong Listing: Threefold Challenge of Electrification, Premiumization, and Profitability

Hong Kong Unveils Fixed Income and Currency Market Roadmap to Establish Global Hub

Accident at World’s No.2 Copper Mine Tightens Supply and Lifts Copper Prices — Hong Kong Concept Stocks Included

U.S. Proposes Removal of $25,000 Day‑Trading Equity Threshold

Beyond the MAX: Boeing Begins Early Development of Crucial 737 Successor

Boeing is reportedly in the early planning phase of a new single-aisle jet to eventually replace the 737 MAX, with CEO Kelly Ortberg having discussed engines with Rolls-Royce. This long-term project coincides with the FAA restoring some of Boeing’s authority to issue 737 MAX airworthiness certificates, even as the company manages a 6,000-plane backlog and ongoing scrutiny.

China’s Manufacturing Slump Continues for Six Months, Pressuring Beijing for Deeper Stimulus

China's official manufacturing PMI shrank for a sixth month in September (49.8), signaling persistent weak domestic demand and trade pressure. The non-manufacturing PMI also softened (50.0). While a private survey was more optimistic (51.2), policymakers are slow to enact major stimulus despite economic momentum loss and tariffs, awaiting clarity on a crucial U.S. trade deal.

BYD Targets Massive Overseas Surge, Forecasting Over 20% of Global Sales from Exports This Year

BYD projects its 2025 exports to account for 20% of total global sales, a substantial increase from 2024's less than 10%. The company forecasts 800,000 to 1 million international deliveries against 4.6 million total sales. This push, supported by an expanded shipping fleet and European expansion plans, comes as BYD navigates slower domestic growth and fierce competition.

Midea’s European AC Sales Jump 35% as Heatwaves Lift Demand and Overseas Mix Offsets China Softness

Midea Group’s air-conditioner sales in Europe surged 35% year over year in the first half of 2025 amid repeated heatwaves, helping lift overseas revenue to 43% of group sales and cushioning a slower domestic market. The performance highlights how climate-driven demand, energy-efficient product upgrades and multi-channel distribution are reshaping the company’s geographic mix and earnings resilience.

Hengrui’s Fifth Licensing Deal of 2025 Signals a Scalable China-to-Global R&D Model

Jiangsu Hengrui Pharmaceuticals inked its fifth licensing transaction of 2025 by granting India’s Glenmark exclusive rights to develop and commercialize the next-generation HER2-targeting antibody-drug conjugate trastuzumab rezetecan (SHR-A1811), a move that lifted Hengrui’s shares and underscored its strategy of monetizing innovation through ex-China partners.

Zijin Gold delays US$3.2 billion Hong Kong listing as Super Typhoon Ragasa hits

Zijin Gold International postponed key IPO milestones by roughly a day as Super Typhoon Ragasa disrupted Hong Kong, pushing back the close of bookbuilding and nudging the trading debut to September 30. The deal, set to raise about US$3.2 billion, remains on track, but the adjustment highlights how extreme weather can ripple through capital-markets logistics even as infrastructure resilience improves.

Huawei readies domestic computing clusters to power China’s AI projects

Huawei is rolling out large-scale computing clusters built on its Ascend processors and supporting software stack to serve China’s booming AI workloads, positioning a full-stack alternative to U.S. platforms restricted by export controls. The build-out pairs data-center hardware with ModelArts-style development tools, heterogeneous scheduling and ecosystem partnerships so enterprises can train and deploy models at scale on Chinese silicon.

NVIDIA Commits $100 Billion to OpenAI in Landmark AI Infrastructure Deal

NVIDIA’s phased $100 billion investment will fund OpenAI’s data centers primarily through leased GPUs, underscoring massive demand for AI computing while raising questions about the sustainability of its capital-intensive model.

AI Momentum Powers Longest Winning Streak for Chinese Tech Stocks

Chinese tech shares surged again, with the Hang Seng Tech Index on track for its longest winning streak ever, driven by AI momentum, policy support, and strong gains in JD.com, Xiaomi, and Baidu.

Alibaba Expands AI Investment Beyond $50B as Shares Hit 4-Year High

Alibaba’s stock surged after CEO Eddie Wu unveiled plans to boost AI spending well above its $53 billion pledge, reflecting China’s race to build homegrown AI models and infrastructure amid rising global competition.

Apple Stock Faces Modest Gains After Analyst-Driven Surge

Apple shares paused after a major rally sparked by optimism over iPhone 17 demand, while Nvidia, Metsera, and Oracle also posted notable market moves.

Chery Automobile Shares Explode in Hong Kong Debut Following $1.2 Billion IPO

Chinese automaker Chery Automobile's shares jumped more than ten percent in their Hong Kong debut after a $1.2 billion IPO. The deal, the second largest this year, was highly oversubscribed, reflecting investor confidence in Chery’s electric vehicle expansion. The company plans to dedicate 35% of proceeds to R&D and 25% to next-gen vehicle development.

COMAC’s C919 Jet Deliveries Fall Short, Exposing Supply Chain Bottlenecks

China's COMAC has missed delivery targets for its C919 jet, handing over only five aircraft from an expected 32. The company has reportedly slashed its production goal from 75 to 25 planes for the year, exposing supply chain bottlenecks and reliance on foreign components. These delays hinder COMAC's international ambitions to compete with Western rivals.

Standoff in Beijing: U.S.-China Delegation Faces Unresolved Disputes Over Critical Issues

The first U.S. House delegation to China since 2019 concluded with key issues unresolved. The dispute over rare earth supplies remains a persistent irritant, and matters concerning TikTok's algorithm are "not 100% resolved." However, progress was noted on a potential Boeing deal, and both sides agreed on the need for increased military and diplomatic dialogue to stabilize relations.

China Keeps Lending Rates Unchanged for Fourth Straight Month

China’s central bank kept its one-year Loan Prime Rate at 3.35% and five-year LPR at 3.85% in September, the fourth straight month without changes. The move reflects a cautious stance as policymakers balance weak domestic demand and property sector stress against risks of yuan depreciation and capital outflows. Markets see this as a “wait-and-see” approach, with potential for selective easing later in 2025 if growth slows further.

Berkshire Hathaway Fully Exits BYD After 16-Year Investment

Warren Buffett’s Berkshire Hathaway has sold off its remaining stake in BYD, ending a long-term investment first made in 2008 after years of trimming its holdings as the Chinese EV maker’s stock surged.

Precious Metals Post Weekly Gains, Palladium Lags

Silver gained about 1.3%, platinum added 0.3%, and palladium rose 1.4% during the week, though palladium still ended lower overall, reflecting weaker fundamentals compared with other precious metals.

Gold Surges to Record High Above $3,700

Gold prices hit a record high above $3,700 per ounce as a weaker U.S. dollar and falling bond yields boosted demand. Investors are betting on imminent Federal Reserve rate cuts, making gold more attractive as a safe-haven asset.

Foreign Investors Re-Engage With China’s $19 Trillion Market

Foreign investors are moving back into Chinese equities, with hedge funds recording their biggest net purchases in six months in August. The $19 trillion market is attracting renewed interest in sectors like AI, semiconductors, and biotech, supported by improved U.S.-China trade relations and accommodative monetary policy. While risks such as weak consumer demand and high corporate debt persist, analysts say global fund managers see long-term opportunities in China’s innovation-led industries.

More Hongkongers fear outliving their savings, McKinsey finds

A new McKinsey survey shows retirement anxiety intensifying in Hong Kong: more than 70 per cent of residents fear running out of savings, and half say they lack a clear plan. Only 16 per cent of those aged 55–65 and 23 per cent of those over 65 report assets above HK$10 million, well short of the HK$20 million nest egg many financial institutions suggest for a comfortable retirement in a city where 22 per cent of residents are already over 65.

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