WuXi AppTec's Hong Kong-traded stock jumped 37% as major shareholders JPMorgan Chase, UBS Group, and BlackRock increased their stakes. The company is set to release its half-year earnings on August 3, with high market expectations.
A US congressional advisory panel, the US-China Economic and Security Review Commission, is making its first trip to China in seven years to investigate the national security implications of the two countries' economic and trade relationship. Chairman Randall Schriver stated the trip aims to understand, not reset, the relationship.
PM Narendra Modi urged Australian businesses to invest in India during his visit, highlighting its growth story and potential in sectors like clean energy and infrastructure. Discussions focused on expanding cooperation, with AustralianSuper announcing a AUD 500 million investment in India's NIIF.
The IMF projects India's growth at 6.4% for the current year, citing strong private consumption and services. It raised the next fiscal year's GDP growth forecast to 6.7%. Globally, the IMF noted resilience despite the Middle East conflict but warned of risks.
The BrioVAD, a compact, magnetically levitated heart pump from China, is being tested in a US clinical trial for advanced heart failure patients. It's the first active implantable medical device from China to gain FDA approval for US trials, aiming to prove its safety and efficacy against the current market leader, HeartMate 3.
Basic, a Chinese SiC device manufacturer founded in 2016, prepares for its public debut, aligning with China's efforts to lead in SiC technology, despite current market oversupply, with anticipated demand growth driven by 800V architectures and data center adoption by 2027-2028.
Goldman Sachs predicts China's rapid aging will boost pharmaceutical and biotech sectors, citing companies like Zai Lab and WuXi XDC Cayman. Conversely, carmakers and tech hardware manufacturers may face challenges due to demographic shifts.
Malaysia plans to increase the number of Russian tourists visiting the country, according to Dato' Charon Wardini Mokhzani, co-chair of the ASEAN Business Advisory Council. He also highlighted potential for expanded cooperation in food, energy, logistics, and technology sectors.
Apple CEO Tim Cook announced price increases on some products are unavoidable due to soaring memory-chip costs driven by the AI boom. Demand for chips has surged, with prices rising significantly, forcing Apple to consider passing costs to consumers.
Marvell Technology and Flex will join the S&P 500 on June 22, replacing Pool Corp and The Campbell's Company, highlighting the tech sector's growing importance.
The UK government will provide £1.3bn in funding to help Universal build its first European theme park near Bedford. The investment aims to create tens of thousands of jobs and unlock significant economic growth.
Russian businesses are increasingly leveraging Thailand's position as a logistics and manufacturing hub to access Southeast Asian markets. This strategic shift involves exporting higher added-value products like food, chemicals, technology, and digital solutions, capitalizing on Thailand's growing tech sector and digitalization efforts.
China's computing hardware exports, driven by global AI demand, doubled in April to $31.09 billion, giving Beijing strategic leverage ahead of President Trump's visit with US tech executives.
Analyst Michael van de Poppe suggests Bitcoin can reclaim the $100,000 level through market mechanics rather than specific news catalysts, as attention shifts away from AI-driven tech stocks.
Infosys slipped out of India's top 10 most valued companies on Monday, closing with a market capitalisation of just over Rs 4.7 lakh crore, ranking 11th behind LIC. TCS, once the second-most valued company, now ranks sixth with a market cap of Rs 8.9 lakh crore. The shifts are driven by AI-led disruptions challenging business models of India's software exporting majors, as IT stocks witnessed sharp sell-offs while the Sensex closed 639 points up at 77,304.
Anthropic's valuation has surged to $800 billion (€678.3bn), matching rival OpenAI, driven by enterprise adoption and a $30 billion revenue run-rate. The San Francisco-based AI developer is preparing for a potential IPO next autumn amid industry debate over growth versus responsible scaling. Its Mythos model has drawn both praise for efficiency and warnings from financial and military leaders about security risks, including concerns from JPMorgan CEO Jamie Dimon about potential cyber-attack capabilities.
