Hong Kong stocks slumped with other Asian markets on Monday as Middle East tensions showed no sign of easing. The Hang Seng Index fell 2.6 per cent to 24,595.54 as of 9.44am local time. The Hang Seng Tech Index dropped 2.4 per cent. On the mainland, the CSI 300 Index slid 1.8 per cent and the Shanghai Composite Index retreated 2 per cent. Advertisement Laopu Gold tumbled 7.5 per cent to HK$566 and...
Hong Kong stocks slumped with other Asian markets on Monday as Middle East tensions showed no sign of easing. The Hang Seng Index fell 2.6 per cent to 24,595.54 as of 9.44am local time. The Hang Seng Tech Index dropped 2.4 per cent. On the mainland, the CSI 300 Index slid 1.8 per cent and the Shanghai Composite Index retreated 2 per cent. Advertisement Laopu Gold tumbled 7.5 per cent to HK$566 and Zijin Mining Group lost 5.6 per cent to HK$32.52 as bullion prices declined. Alibaba Group Holding fell 2.8 per cent to HK$120.20 and Tencent Holdings slid 1.5 per cent to HK$500.50. With the US-Israel war on Iran entering its fourth week, US President Donald Trump issued a 48-hour ultimatum to Iran to reopen the Strait of Hormuz or face strikes on its power plants. Iran responded that any such attack would trigger retaliation by closing the waterway indefinitely and targeting US and Israeli energy infrastructure across the Gulf region. Advertisement Other major Asian markets all fell. Japan’s Nikkei 225 shed 3.9 per cent, while South Korea’s Kospi retreated 4.5 per cent and Australia’s S&P/ASX 200 lost 0.8 per cent.
Chinese engineers have designed the country’s first tourist submersible equipped to venture as deep as 1,000 metres (3,280 feet) below the ocean surface , giving eventual new momentum to the luxury travel industry. Engineers at the China Ship Scientific Research Centre in Wuxi, a city west of Shanghai, plan to build a prototype before the end of the year and enter commercial operation by 2030 for ...
Chinese engineers have designed the country’s first tourist submersible equipped to venture as deep as 1,000 metres (3,280 feet) below the ocean surface , giving eventual new momentum to the luxury travel industry. Engineers at the China Ship Scientific Research Centre in Wuxi, a city west of Shanghai, plan to build a prototype before the end of the year and enter commercial operation by 2030 for as many as four passengers per trip, state-run media outlets said this week. Key components including the submersible’s panoramic viewport – one of the hardest parts to design on a deep-sea submersible – have been developed already, China Daily said, quoting research centre director Ye Cong. Advertisement China has dozens of tourism submersibles in use for depths of up to about 20 metres, suitable for tours in reservoirs, lakes and coastal waters, China Daily reported. Underwater vehicles at greater depths must withstand higher external water pressure. The research centre, a subsidiary of China State Shipbuilding Corp., has also developed the cutting-edge Jiaolong and Deep Sea Warrior deep-sea submersibles for scientific exploration, making the tourism vehicle its latest effort to advance civilian access to the deep seas. Advertisement The new vehicle would join submersibles for depths of 1,000 metres or more made by overseas brands Deep Rover, Triton and U-Boat Worx as long ago as 1985.
Chinese pig farmers are facing worsening losses, as tepid domestic consumption of pork is compounded by rising costs from the war in Iran. The government has been urging breeders since last year to reduce sow numbers and slaughter rates to better align supply with demand. It did so again last week, and also said it’s buying frozen pork for state reserves to support the market. The intervention com...
Chinese pig farmers are facing worsening losses, as tepid domestic consumption of pork is compounded by rising costs from the war in Iran. The government has been urging breeders since last year to reduce sow numbers and slaughter rates to better align supply with demand. It did so again last week, and also said it’s buying frozen pork for state reserves to support the market. The intervention comes after pig prices crashed to their weakest in at least 15 years , according to data from Shanghai JC Intelligence Co., and producer margins plumbed four-year lows. Economic growth in China has sputtered since the pandemic, and households are spending less on their favorite meat. The government, meanwhile, is keen to keep food deflation at bay as it pursues an economic agenda based on lifting consumption. But farmers haven’t cut their cloth accordingly, and there’s still a surplus of sows for breeding. Feeding those vast pig herds could become more expensive as global agricultural markets respond to disruptions to energy and fertilizer supplies from the Middle East. The two main feed ingredients, soybean meal and corn , have jumped on the Dalian exchange since the US and Israeli strikes on Iran began. The stress on crop markets will only get worse the longer the Strait of Hormuz is effectively blocked to shipments. The squeeze on incomes, and the government’s pressure, could force China’s farmers to hasten production cuts over the next two quarters, or even exit the industry, according to a note from commodity market researcher Mysteel. Mood Darkens Pig farmers have been in the red for months, but the economics has deteriorated rapidly in the weeks since the lunar holiday, a high point for demand. Breeders are now losing more than 400 yuan ($58) on each animal, an unsustainable amount that’s causing widespread pessimism in the industry, Mysteel said. Wholesale pork bought by retailers has dived to about 17 yuan a kilogram, another four-year low. That should mean cheaper pr...
Bjoern Wylezich/iStock Editorial via Getty Images Note: I have covered KNOT Offshore Partners LP ( KNOP ) or "KNOP" previously, so investors should view this as an update to my earlier articles on the company. Please note also that KNOT Offshore Partners is part of our coverage universe at Value Investor's Edge . Last week, leading shuttle tanker operator KNOT Offshore Partners released disappoint...
Bjoern Wylezich/iStock Editorial via Getty Images Note: I have covered KNOT Offshore Partners LP ( KNOP ) or "KNOP" previously, so investors should view this as an update to my earlier articles on the company. Please note also that KNOT Offshore Partners is part of our coverage universe at Value Investor's Edge . Last week, leading shuttle tanker operator KNOT Offshore Partners released disappointing news for investors: KNOT Offshore Partners (...) announced today that discussions regarding the unsolicited non-binding proposal received by the Partnership on October 31, 2025 from Knutsen NYK Offshore Tankers AS ("KNOT"), pursuant to which KNOT proposed to acquire through a wholly-owned subsidiary all publicly held common units of the Partnership in exchange for cash (the "KNOT Offer"), have been terminated. The Conflicts Committee of the Partnership's Board, which is comprised of only non-KNOT-affiliated directors, retained independent financial and legal advisors to assist it in evaluating the KNOT Offer. The Conflicts Committee and its independent advisors reviewed the KNOT Offer and had several discussions with KNOT over the last few months regarding the potential transaction. Following such discussions, the parties have determined that they will not be able to reach an agreement and have therefore terminated discussions regarding the KNOT Offer. For my part, I was perplexed by the parties' inability to reach an agreement as shuttle tanker markets have been strengthening in recent quarters and, if anything, the Middle East conflict is demonstrating the urgent need for offshore oil from regions like Brazil and the North Sea. However, the conflict might have actually been the final nail in the coffin for the transaction. From the parent's perspective, rising interest rates, global recession risks and resulting general market turmoil are negatively impacting the valuation of the partnership. On the flip side, the Conflicts Committee and its independent advisors might...