Business News
Latest business news and updates
Total: 3085
Precious‑metals Rout and Telecom Tax Hike Drag Hong Kong Stocks; Hang Seng Tech Falls 3.4%
Hong Kong markets slipped as a sharp drop in gold and silver hammered miners and a VAT increase on telecom value‑added services pressured the three major operators. The Hang Seng fell 2.23% and the tech‑heavy Hang Seng TECH lost 3.36%, with notable declines across chips, autos and precious‑metals stocks.
China’s A‑Shares Slide: Broad-Based Selloff Sees Hundreds of Stocks Hit Limits as Tech, Metals Lead Declines
China’s equity markets tumbled on February 2, with major indices down over 2% and hundreds of stocks hitting limit‑down as trading volume contracted. Defensive pockets such as white spirits and power‑grid equipment held up, while metals, energy and semiconductor names led the declines, raising questions about investor confidence and near‑term policy reaction before Lunar New Year.
China’s EV Financing War Ripples Through Used‑Car Market, Pummelling Resale Values and Dealers’ Margins
Tesla’s January 2026 push of 5‑year 0% and 7‑year low‑interest purchase plans has spurred competitors to extend similar financing, making new EV purchases cheaper per month and prompting buyers to favour new cars. That shift has weakened demand for secondhand electric cars, forced dealers to cut prices or offer short-term interest‑free loans, and highlighted structural risks to EV residual values driven by rapid technological obsolescence and battery concerns.
Gulf States Poised to Ride a New Wave of AI and Tech Investment
At SEF2026 in Sharjah, venture capitalists signalled that Gulf countries — buoyed by low energy costs, proactive regulation and growing AI education — are entering a new phase of technology investment. Saudi Arabia led the region in deal value in 2025 and has launched funds targeting early-stage biotech, reflecting its Vision 2030 diversification agenda.
NIO’s Le Dao Brand Makes Overseas Debut in Uzbekistan as the EV Push Turns Global
NIO opened its first national-authorised showroom in Uzbekistan on 31 January, introducing models from its premium NIO line and launching Le Dao’s L90 and L60 — the sub‑brand’s first overseas models. The company also announced a tie-up in Costa Rica, signalling simultaneous expansion into Central Asia and Latin America as Chinese EV makers chase growth beyond a crowded domestic market.
Maotai’s Pre‑New Year Rollercoaster: Prices Spike Then Slide, Leaving Traders Exposed
Maotai prices swung sharply around the Lunar New Year, with single‑bottle quotes briefly rising to about ¥1,830 before retreating to ¥1,740–¥1,780. Wholesale boxed vintages saw modest declines while single‑bottle retail prices remained comparatively stable, underscoring festival demand and speculative trading pressures that strain small merchants.
China’s Land-Sale Boom Collapses: Local Governments Face a Trillion‑Dollar Shortfall as Property Slump Deepens
China’s local governments saw land‑sale revenues fall for a fourth straight year in 2025, dropping to about ¥4.15 trillion and roughly halving since the 2021 peak. The slump has tightened municipal budgets, increased debt pressure and cut land‑related spending, prompting proposals for central fiscal backstops and targeted measures to stabilise the housing market in 2026.
Vanke’s RMB82bn Loss Exposes the Perils of China’s Manager‑Led Corporate Model
Vanke reported an expected RMB82 billion net loss for 2025 and disclosed urgent liquidity pressures, prompting a subsidised rescue loan from majority shareholder Shenzhen Metro Group. The collapse highlights alleged off‑balance liquidity channelling and structural incentives that rewarded senior managers even as shareholders and creditors suffered, reviving questions about the limits of the manager‑led corporate model in China.
China Stocks Slide Over 2% as Broad Sell-Off Sees Hundreds of Limit-Downs, Memory Chips Hit Hard
China’s major stock indices fell more than 2% as widespread selling pushed 123 companies to daily limit-downs and over 4,600 stocks lower. Liquor and some power-equipment shares bucked the trend, while non-ferrous metals and memory-chip related names suffered steep losses amid declining turnover.
Gold and Silver Plunge Sparks Market-Wide Shock as Exchanges Tighten Controls
A dramatic sell-off on February 2 sent gold and silver tumbling and forced exchanges in China and abroad to raise margins and restrict trading. Regulators cited abusive trading and liquidity risks, while analysts warn the move reflects sentiment-driven flows and policy-related uncertainty rather than purely fundamentals.
China’s “Snack Ambushers”: Mall Nut Shops Charge Premiums for Experience, Not Always Freshness
Popular mall-based nut chains in China have been selling ordinary snacks at premium prices by packaging them as high-end, freshly roasted products and leveraging mall footfall and influencer marketing. Rising customer complaints about high bills and questions about the authenticity of “same-day roasting” have slowed expansion and exposed risks to the brands’ pricing logic.
Mall‑based Nut Brands Turn Everyday Seeds into a Luxury Purchase — and a Consumer Flashpoint
Two mall‑focused Chinese nut chains have turned ordinary roasted seeds into high‑priced, boutique products, prompting social‑media backlash as consumers discover hefty price tags and uneven claims of same‑day roasting. The strategy — premium positioning through mall locations, sensory retailing and influencer seeding — has driven rapid expansion but now faces slowing store openings and scrutiny over whether the premium is justified.