Business News
Latest business news and updates
Total: 2066
KOSPI Rockets—South Korea’s Benchmark Extends Gains to Around 11% in Sharp Rally
The KOSPI surged to around an 11% gain on March 5 in a sharp, volatility-driven rally that coincided with broader risk-on moves across Asian markets. Concentration in large-cap tech and derivatives activity magnified the move, prompting questions about liquidity, sustainability and potential policy or market responses.
Memory Crunch Halves Profits at 'King of African Phones' — A Warning for Low‑cost OEMs
Transsion’s 2025 net profit fell by 53.4% as rising memory‑chip prices and heavier sales and R&D spending squeezed margins. The company’s heavy reliance on low‑end handsets in price‑sensitive African and South Asian markets limits its ability to pass on cost increases, forcing a strategic pivot toward diversification and a Hong Kong IPO amid potential shareholder selling risks.
Founder of China’s ‘Reagent Star’ Plans Small Block Sale — A Liquidity Move That Tests Investor Sentiment
Xu Jiuzhen, chairman and largest shareholder of Aladdin Biochemical (688179), has proposed selling up to 3 million shares via block trades, potentially raising about ¥50 million. The planned reduction is small in scale but notable because it follows prior insider disposals and arrives as the company reports improving 2025 results and strong fourth‑quarter profit growth.
Risk-Off Roars Through East Asia: South Korea Stocks Crash over 12% as Japan Also Slips
A sharp, externally driven risk-off wave on March 4 sent South Korean equities into a dramatic slide of more than 12% and pushed Japanese shares lower. The rout — amplified by offshore selling and concerns about Middle East tensions and rising oil prices — has raised the prospect of policy intervention in Seoul and heightened global investor caution toward export-dependent Asian markets.
Hong Kong Stocks Slip as Oil and Shipping Rout Outweigh Tech Resilience
The Hang Seng fell 2.01% while the Hang Seng Tech index dropped 0.96% as oil-and-gas services and shipping names suffered heavy losses. Mega-cap techs such as Alibaba and JD.com weakened but helped keep the tech sub-index from falling as steeply as the broader market. The move reflects sector rotation and heightened sensitivity to commodity and trade-related risks amid volatile global markets.
Canada Reopens Door to Chinese EVs with Limited Quotas — A Short Window for BYD and Other Exporters
Canada will issue a first tranche of 24,500 import permits for Chinese-made electric vehicles for March–August 2026 at a 6.1% MFN tariff, signalling a partial rollback of the 100% surtax imposed in October 2024. The quota scheme, phased through early 2027 and planned to expand toward 70,000 vehicles by 2030, rewards manufacturers already prepared for Canadian certification while leaving open political and regulatory risks.
Chinese Report Says Only ‘Native’ AI Platforms Can Cure Finance’s Hallucination Crisis
NewTimeSpace’s 2026 assessment introduces CMM‑GEO, a maturity model for AI search in finance, and finds most suppliers remain at inadequate L1/L2 tiers. Only L3 platforms that embed financial knowledge graphs, front‑loaded compliance and API‑first distribution can produce high‑volume, auditable outputs and convert AI exposures into business outcomes.
From AI Rally to Market Panic: South Korea's Stock Boom Snaps as Middle East Shock Triggers Triple Circuit-Breakers
South Korea's stock market, which surged on an AI-led rally earlier this year, experienced severe reversals in early March 2026 as renewed Middle East tensions and heavy foreign selling triggered multiple circuit-breakers. The won weakened to levels not seen since 2009, prompting emergency meetings at the Bank of Korea and raising concerns about the country's exposure to oil shocks and capital flight.
Wahaha’s Industrial Experiment Ends: Second‑Generation CEO Cuts Robotics Unit in Sharp Strategic Pivot
Wahaha has dissolved its precision machinery and robotics unit, terminating over 200 employees and closing a decade‑long industrial diversification effort led by founder Zong Qinghou. The decision, driven by second‑generation leader Zong Fuli, signals a strategic refocus on the beverage core amid fierce market competition and persistent losses in the smart‑equipment business.
Wang Jianlin Sells Another Wanda Mall as Builders Move In to Settle Bills
Wanda has continued to sell shopping centres in 2026, most recently a Shanghai plaza for about CNY 2.048 billion, while China State Construction’s engineering bureaus have increasingly taken ownership of former Wanda projects. These transactions often represent asset-for-debt swaps to settle unpaid construction bills and complicate Wanda’s planned shift to a light-asset, management-centric model. The pattern reveals both an urgent need to address large liabilities and a strategic risk: if Wanda cannot retain management roles on sold assets, its pathway to stable fee income and successful deleveraging is in doubt.
China’s Discount-Snack Shake‑Out: Regional Chains Face “Sell‑Out or Die” Moment
China’s discount‑snack retail sector has consolidated into two dominant groups, squeezing regional chains that now seek mergers, platform partnerships or sales to survive. A recent strategic alliance between regional chain Lingxia Youxuan and supply‑chain platform Huitongda exemplifies how mid‑sized players are trying to buy scale and down‑market access as competition intensifies.
Seoul Stocks Plummet: KOSPI Falls Sharply, Triggers 20‑Minute Circuit Breaker as Samsung Slides
South Korea’s KOSPI plunged about 8% on March 4, activating a 20‑minute circuit breaker; trading resumed as losses extended toward 9.1%, with Samsung Electronics falling over 8%. The episode highlights the market’s concentration risk and the potential for rapid spillovers from declines in a few dominant tech exporters.