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Luxshare Precision Industry's shares dropped over 5% in their Hong Kong trading debut Thursday, following its $3.09 billion IPO, the largest this year. The Apple supplier, already listed in Shenzhen, priced shares at HK$63.28, with the stock trading at HK$60 early on.
Temasek Global Investments president Nagi Hamiyeh stated crypto investment remains off-limits due to regulatory uncertainty and the company's substantial loss from FTX. The firm is increasing its AI exposure and investing in European luxury and industrials.
Oil prices surged Thursday following new U.S. military strikes on Iran, escalating fears of supply disruptions in the Middle East. Brent crude and WTI futures advanced, with analysts citing the Strait of Hormuz's critical role in global energy flows.
China's consumer prices rose 1% year-on-year in June, missing forecasts and slowing from May, while wholesale inflation accelerated to 4.1%, driven by energy costs and AI demand, indicating weak domestic demand.
China's consumer prices rose 1% year-on-year in June, below economists' expectations and slowing from May. Meanwhile, wholesale inflation accelerated to 4.1%, driven by energy costs and demand for AI technology, though input cost inflation eased.
Luxshare Precision Industry, an Apple supplier, saw its shares drop over 5% in its Hong Kong trading debut on Thursday. The company priced its IPO at HK$63.28 per share, raising HK$24.27 billion ($3.09 billion).
