In this article Follow your favorite stocks CREATE FREE ACCOUNT The Zhipu AI logo is seen displayed on a smartphone screen. Sopa Images | Lightrocket | Getty Images Shares of Knowledge Atlas Technology JSC, better known as Zhipu, edged higher on their Hong Kong debut, following a $558 million initial public offering that made it the first of China's "AI tigers" to go public. The stock rose around ...
In this article Follow your favorite stocks CREATE FREE ACCOUNT The Zhipu AI logo is seen displayed on a smartphone screen. Sopa Images | Lightrocket | Getty Images Shares of Knowledge Atlas Technology JSC, better known as Zhipu, edged higher on their Hong Kong debut, following a $558 million initial public offering that made it the first of China's "AI tigers" to go public. The stock rose around 10% above its offer price of 116.20 Hong Kong Dollars ($15) on Thursday, with around 37.4 million shares on offer by the Beijing-based startup. The IPO valued Zhipu at around HK$4.3 billion, making it one of the larger AI flotations in recent years. Founded in 2019 by researchers from a top Chinese university, Zhipu represents the country's first major large language model company to go public through an IPO. The listing marks another key milestone for China's broader artificial intelligence sector following a wave of recent listings by AI chipmakers. The firm, strongly backed by Beijing, is also considered one of China's so-called "AI tigers" — startups building large language models to rival the likes of OpenAI and Anthropic. Other notable firms in the group include Deepseek, which famously rattled markets early last year with the release of one of its LLM models. While not as well known globally as Deepseek, Zhipu gained attention last year when American AI juggernaut OpenAI highlighted its notable progress as a competitor on the "front line" of China's race to lead in AI. The firm reportedly has offices in the United Kingdom, Singapore, Malaysia, and across the Middle East. It also operates joint "innovation centers" projects across Southeast Asia, including in Indonesia and Vietnam. Zhipu's progress has come despite being placed on the US Commerce Department's Entity List in January last year, after U.S. officials said it was working with China's military. The firm's ability to train its AI models has also been constrained by U.S. restrictions on access to advanced sem...
To get John Authers’ newsletter delivered directly to your inbox, sign up here . Today’s Points: Trump says he’ll ban institutional investors from owning single-family homes. ISM shows the US services sector is in robust shape. Kevins Warsh and Hassett are in a dead heat in the race to run the Fed . The US intends to control Venezuelan oil sales indefinitely. AND: Songs when it’s hard to know how ...
To get John Authers’ newsletter delivered directly to your inbox, sign up here . Today’s Points: Trump says he’ll ban institutional investors from owning single-family homes. ISM shows the US services sector is in robust shape. Kevins Warsh and Hassett are in a dead heat in the race to run the Fed . The US intends to control Venezuelan oil sales indefinitely. AND: Songs when it’s hard to know how to pay ... Spelling Affordability With a K The AI investment phenomenon is getting old. It’s now into its fourth year. Could the next big thing be spelled with a K? US midterm elections are due in November, both main parties will be fighting them on the issue of affordability, and there could be an opportunity in growing inequality and the so-called K-shaped economy. It’s corroding social harmony and prompting a drastic response from the White House. But it might yet make money for stockpickers. The problem is to work out who will benefit. President Donald Trump made clear the importance of the issue with Wednesday’s dramatic post on Truth Social that he intended to bar investment groups from owning single-family homes: This is a move of utmost political significance and the stock market took it very seriously. Private equity and other buyers have made huge investments in housing, growing into major landlords. They can access credit more cheaply than the rest of us, and their behavior raises demand and pushes up prices. Acting against institutional landlords would attack the K-shaped economy in one fell swoop, hitting the privileged while while helping the poor. The mere fact of making this statement, which blindsided Wall Street , shows that we can expect concerted attempts to deal with affordability and inequality. The midterms will inevitably be difficult. George Pollack of Signum Global Advisors points out that incumbents have suffered defeat in 38 of 41 such elections since the Civil War, with an average loss of 36 House seats by second-term presidents. The Republicans...
(RTTNews) - Indian shares opened lower on Thursday, extending recent losses amid rising geopolitical tensions and trade uncertainties. The benchmark BSE Sensex was down 155 points, or 0.2 percent, at 84,805 while the broader NSE Nifty index dropped 66 points, or 0.3 percent, to 26,074. TCS shares were down nearly 2 percent while Tech Mahindra, Reliance Industries, Sun Pharma, Infosys, Maruti Suzuk...
(RTTNews) - Indian shares opened lower on Thursday, extending recent losses amid rising geopolitical tensions and trade uncertainties. The benchmark BSE Sensex was down 155 points, or 0.2 percent, at 84,805 while the broader NSE Nifty index dropped 66 points, or 0.3 percent, to 26,074. TCS shares were down nearly 2 percent while Tech Mahindra, Reliance Industries, Sun Pharma, Infosys, Maruti Suzuki India, UltraTech Cement and Asian Paints all fell around 1 percent. Tata Steel edged down slightly after releasing its Q3 business update. Meesho slumped 4.3 percent after Megha Agarwal, general manager for business at the company resigned. IIFL Capital Services declined 1.6 percent after clarifying media reports about TPG Capital potentially acquiring a 30-40 percent minority stake in the company. Samvardhana Motherson International fell 1.2 percent after incorporating a new wholly owned subsidiary called Motherson Egtronics Electronics Solutions. Gland Pharma added 1.4 percent on receiving approval from the U.S. FDA for its Abbreviated New Drug Application filed for Olopatadine Hydrochloride Ophthalmic Solution USP, 0.7 per cent (OTC). The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The energy trading arm of Sumitomo Corp. is considering setting up an LNG desk in Singapore, the latest move by the Japanese company to strengthen its foothold in the seaborne market for the fuel. Pacific Summit Energy is exploring a liquefied natural gas desk in the city-state as part of a wider strategy to expand its trading business across Asia, Europe, and the US, according to a Sumitomo spoke...
The energy trading arm of Sumitomo Corp. is considering setting up an LNG desk in Singapore, the latest move by the Japanese company to strengthen its foothold in the seaborne market for the fuel. Pacific Summit Energy is exploring a liquefied natural gas desk in the city-state as part of a wider strategy to expand its trading business across Asia, Europe, and the US, according to a Sumitomo spokesperson, who said they had opened a similar operation in London in August. Sumitomo’s energy trading unit has traditionally operated in North America, with offices in California, Texas and Virginia. Japan’s trading houses have been looking to boost their LNG businesses on expectations demand will last for longer than anticipated as the fossil fuel acts as a bridge in the transition to intermittent renewables. The move also comes as Japan — the world’s second-largest LNG buyer — may need more gas in the future as the AI boom lifts power demand. Pacific Summit is also in discussions to secure at least one long-term LNG purchase agreement for about 1 million tons per year from US projects, according to people with knowledge of the matter who asked not to be named due to the sensitivity of the matter. Sumitomo declined to comment on this.
Veteran Hong Kong lawmaker Starry Lee Wai-king has been elected president of the Legislative Council, defeating Ronick Chan Chun-ying by a five-vote margin in the first-ever race between two pro-government contenders for the post. Lee received 47 votes and Chan 42. One member of the 90-seat legislature was absent from the vote. Election committee representative Simon Hoey Lee was not spotted in th...
Veteran Hong Kong lawmaker Starry Lee Wai-king has been elected president of the Legislative Council, defeating Ronick Chan Chun-ying by a five-vote margin in the first-ever race between two pro-government contenders for the post. Lee received 47 votes and Chan 42. One member of the 90-seat legislature was absent from the vote. Election committee representative Simon Hoey Lee was not spotted in the chamber. Advertisement Lee succeeds Andrew Leung Kwan-yuen, who stepped down after choosing not to seek re-election in last month’s Legco poll. Lawmakers voted by secret ballot following a two-hour election forum on Thursday morning, during which both candidates took questions from 21 fellow legislators. Advertisement Asked by lawmaker Kenneth Fok Kai-kong about ensuring impartiality in the presidency, both Lee and Chan cited their records of moderating meetings fairly and pledged that, if elected, they would not caucus with their political group or publicly comment on government policies. Serving as Hong Kong’s sole delegate to the National People’s Congress Standing Committee, Lee said only four of its meetings would overlap with the Legco schedule each year, stressing that her primary focus remained her work as a lawmaker.
Chinese tea chain Chagee Holdings Ltd. is considering a listing in Hong Kong, according to people familiar with the matter, joining a rush of firms being drawn to sell shares in the Asian financial hub. Chagee is in initial talks with banks about a share sale that may raise several hundred million dollars, possibly this year, the people said, asking not to be identified discussing confidential inf...
Chinese tea chain Chagee Holdings Ltd. is considering a listing in Hong Kong, according to people familiar with the matter, joining a rush of firms being drawn to sell shares in the Asian financial hub. Chagee is in initial talks with banks about a share sale that may raise several hundred million dollars, possibly this year, the people said, asking not to be identified discussing confidential information. The company already trades in the US, where its initial public offering last year turned Chief Executive Officer Zhang Junjie — aged 30 at the time — into a billionaire. Deliberations are ongoing and Chagee may decide to not proceed with a share sale in Hong Kong, the people said. Regulatory approval is also still needed. Chagee didn’t respond to requests for comment. Founded in 2017 in China’s southwest Yunnan province, Chagee specializes in premium, milk-based teas using traditional Chinese blends. It had a network of 7,338 teahouses as of the end of September, primarily in China. Chagee’s US shares have fallen more than 50% since its April 2025 listing, leaving the company with a market value of about $2.5 billion. Revenue declined 9.4% from a year earlier in the third quarter to about $450 million, while net income slid by more than 35% amid low-price competition from Chinese food delivery platforms, Chagee’s quarterly report shows. After a strong 2025, Hong Kong is on course for its best January on record for new listings, with 11 companies already poised to raise as much as $4.1 billion. Unlike Chagee, much of the lineup consists of Chinese firms tied to artificial intelligence. KPMG expects Hong Kong listings to raise up to $45 billion in 2026.
Analysis: Why Trump chose Delcy, not Machado 2 hours ago Share Save Paul Adams Diplomatic correspondent Share Save Who is Venezuela's new interim president, Delcy Rodríguez? Amid the many questions swirling since last weekend's dramatic events in Caracas – and there are many – one that refuses to go away centres on the bespectacled woman now leading what US officials are calling Venezuela's "inter...
Analysis: Why Trump chose Delcy, not Machado 2 hours ago Share Save Paul Adams Diplomatic correspondent Share Save Who is Venezuela's new interim president, Delcy Rodríguez? Amid the many questions swirling since last weekend's dramatic events in Caracas – and there are many – one that refuses to go away centres on the bespectacled woman now leading what US officials are calling Venezuela's "interim authorities." Why Delcy? What is it about Delcy Rodríguez, daughter of a former Marxist guerilla and deputy to ousted dictator Nicolas Maduro, that has caught the eye of the Trump administration? And why has Washington decided on an avowed "Chavista" revolutionary to stay in power, rather than backing the opposition leader, María Corina Machado, whose opposition movement is widely believed to have won the 2024 presidential elections? The answer, according to one former US ambassador to Venezuela, is simple. "They've gone for stability over democracy," says Charles Shapiro, who served as George W Bush's ambassador in Caracas from 2002-04. "They've kept the dictatorial regime in place without the dictator. The henchmen are still there." "I think it's risky as hell." But the alternative, involving wholesale regime change and backing Machado's opposition movement, would have involved other dangers, including potential infighting among opposition figures and the alienation of those Venezuelans – perhaps as many as 30% – who voted for Maduro. Watch: "I want a president who's involved" - Michiganders weigh in on Maduro's seizure In his dramatic press conference on Saturday morning, President Trump shocked many observers by dismissing the Nobel Peace Prize winner Machado as "not respected" inside Venezuela, while describing Rodríguez as "gracious." "I was very surprised to hear the disqualification of María Corina Machado by President Trump," Kevin Whitaker, former deputy chief of mission at the US embassy in Caracas, says. "Her movement was massively elected…and so disqualifyin...
Waste Of The Day: Grants For Winter Heating Bills Are Missing Authored by Jeremy Portnoy via RealClearInvestigations , Topline: The nonprofit New Opportunities, Inc. used $2.8 million in taxpayer funds meant for low-income families’ heating bills on its own operating expenses, according to the Connecticut Office of Policy and Management. In a Dec. 22 letter obtained by CT Insider , CT Mirror and m...
Waste Of The Day: Grants For Winter Heating Bills Are Missing Authored by Jeremy Portnoy via RealClearInvestigations , Topline: The nonprofit New Opportunities, Inc. used $2.8 million in taxpayer funds meant for low-income families’ heating bills on its own operating expenses, according to the Connecticut Office of Policy and Management. In a Dec. 22 letter obtained by CT Insider , CT Mirror and more, OPM Secretary Joshua Wojcik claims New Opportunities admitted to “impermissibly” using grant funds "to provide fiscal support for other organizational operations." Key facts: New Opportunities was founded in 1964 and now helps administer Connecticut’s federally funded Energy Assistance Program , which helps families earning 60% or less of the state median income pay their heating bills over the winter. The federal Administration for Children and Families , part of the U.S. Department of Health and Human Services, gives grant funding to Connecticut, which in turn sends it to nonprofits like New Opportunities. The nonprofits then pay energy companies to deliver oil, natural gas or another heat source to low-income families. According to Wojcik’s letter, New Opportunities recently sent three checks worth $2.8 million to the energy company Eversource to pay for natural gas . The checks bounced when Eversource tried to cash them because New Opportunities had already used the grant money for unrelated expenses, and there were not enough funds left in its account. That is a violation of state and federal contracting rules, according to CT Mirror. New Opportunities later paid Eversource $1.2 million of the balance, but $1.6 million was still missing as of Dec. 22. Connecticut’s Department of Social Services barred New Opportunities from the Energy Assistance Program in the towns of Waterbury, Meriden and Torrington, CT Mirror reported. Wojcick also plans to appoint a representative to oversee all of New Opportunities’ spending and fire any board member who fails to “ensure tha...
The bowler’s smarts and stamina from the first ball in Perth to the last in Sydney – not to mention his batting – made him a worthy man of the series It was right that Mitchell Starc should clean up the last two English wickets of this Ashes. Right, too, that Travis Head should mop up a few more runs, but for all of the enjoyment that Head brings with his Jayasuriya-lite batting and his Boon-lite ...
The bowler’s smarts and stamina from the first ball in Perth to the last in Sydney – not to mention his batting – made him a worthy man of the series It was right that Mitchell Starc should clean up the last two English wickets of this Ashes. Right, too, that Travis Head should mop up a few more runs, but for all of the enjoyment that Head brings with his Jayasuriya-lite batting and his Boon-lite persona, the difference in the series has been the other left-hander. The fifth morning of the Sydney Test took Starc to 31 wickets at 19, and crossing 30 is the stuff of great Ashes series. Sixteen other Australians have done it, a list mostly comprised of players who only need be identified by surnames. In the manner of schoolteachers meeting you as an adult, some people are stuck with a memory of Starc as he was at the beginning: a lanky possessor of promise with the risk of being wayward, expensive or injured. In the manner of truly fast bowlers, he is seen as part animal, part force of nature: his feats are elements unleashed, not the work of brain and skill. He is admired for that while still viewed as livestock. Like, Gandalf’s horse is awesome, but it’s still a horse. Continue reading...