Business News
Latest business news and updates
Total: 3045
Tech Stocks Drive a Risk-Off Session: Nasdaq Slides 2% as Gold Miners Also Tumble
U.S. markets opened sharply lower with the Nasdaq down about 2%, driven by broad tech weakness and marked selling in semiconductors. Unexpected declines in gold‑mining stocks compounded the rout, underscoring a generalized risk‑off mood across global markets.
NPC Deputy Proposes Longer A‑share Trading Hours and a National Independent‑Directors Association to Bolster Liquidity and Governance
NPC deputy Tian Xuan has proposed extending A‑share trading hours in stages and creating a national, non‑profit independent‑directors association under CSRC oversight. The twin measures aim to boost liquidity, attract foreign capital and professionalise corporate governance, but would require significant technical, regulatory and institutional work to implement effectively.
China’s HLA Blacklisted from Military Procurement, Putting Its Group‑Buy Engine and Cash Flow at Risk
China’s leading menswear retailer HLA was suspended from participating in all military procurement after refusing to sign a contract it had won. The sanction, which also penalises two company representatives, threatens the firm’s group‑purchase revenue stream, exacerbates existing margin pressure and signals stricter enforcement of procurement rules across China’s institutional supply chains.
Broad A‑Share Selloff Sees Shenzhen Index Slide Over 3% as Energy Stocks Stand Alone
Chinese A‑shares fell broadly on March 3, led by a more than 3% drop in the Shenzhen Component and steep losses across thousands of stocks, even as oil and gas names surged. Elevated turnover and weak breadth point to a liquidity‑driven unwind amid global risk‑off and sector concentration risks.
All‑in AI — on Employees’ Dime: How Firms Are Shifting Compute Costs onto Workers
Chinese companies’ push to “All in AI” is shifting costs from employers to employees as firms treat AI as a personal productivity tool rather than a corporate capital expense. That shift raises labour‑market questions about inequality, performance metrics tied to compute use and who ultimately owns the new means of production.
From Megvii's Ashes to a Geely-Backed Empire: Yin Qi's Bet on an AI+Car Closed Loop
Yin Qi has reconfigured his post‑Megvii career around a tightly integrated AI+automotive strategy, combining StepFun’s large models with Qianli/Geely’s hardware and distribution to create a commercial ‘‘closed loop.’’ Backed by state capital and big tech, StepFun has raised over RMB5 billion and aims for a near‑term listing, but its dependence on Geely creates strategic trade‑offs between fast deployment and independence.
Shenzhen Developers Slash Prices in Core District as China’s Property Downturn Deepens
Steep, symbolic price cuts at a central Shenzhen development highlight how China’s property downturn has moved into core urban districts. Despite repeated policy easing, structural headwinds — stagnant incomes, high household leverage and a falling population — are keeping demand weak and complicating recovery efforts.
Middle East Escalation Sparks Asian Market Rout — Korea Triggers Circuit Breaker as Hedge Funds Rush to Reprice Risk
Asian markets plunged after drone attacks on U.S. diplomatic sites in the Middle East prompted fears of wider conflict and a U.S. military response. South Korea’s market experienced an abrupt sell-off that triggered circuit-breakers amid heavy foreign selling and rapid hedge-fund deleveraging, while Japan’s Nikkei also fell sharply.
A‑Share Pullback Sees Tech, Defense and Small Caps Slide as Energy and Banks Hold Up
China’s A‑share markets fell broadly on Tuesday, with major indices down across the board and small‑cap benchmarks hit hardest. Higher turnover accompanied the selloff, while oil, coal and financials outperformed as tech and defence‑related stocks led declines.
Transsion’s Tough Year: Africa’s Smartphone King Faces Margin Squeeze and Intensifying Competition
Transsion reported a sharp drop in 2025 profits as soaring memory prices and intensified competition from Chinese brands squeezed margins in its low‑end, Africa‑focused business. The firm is pursuing a Hong Kong listing and a strategic shift toward an ecosystem model, but that transition will be capital‑intensive and slow while market pressure persists.
CICC Frames China’s Two Sessions as Market Catalyst, Favouring Tech and Cyclicals
CICC’s Two Sessions preview frames the 2026 meetings as a policy inflection point: Beijing will prioritise industrial modernisation, domestic demand and market unification while continuing to address property and local‑debt risks. The bank recommends investors favour technology‑growth and cyclical resource sectors, but cautions that implementation and financial stability risks will shape outcomes.
Middle East Flare-Up Sends Tanker Freight to Record High as Markets Trade Unevenly
Renewed Middle East tensions have driven oil prices up more than 6% and sent tanker rates to record highs, creating acute short-term disruption to crude logistics. Markets traded unevenly as investors weighed inflationary implications against selective risk-taking, while Beijing pressed for de-escalation and moved to cushion domestic industry through policy measures.