Bloomberg Daybreak Asia: APAC Markets Follow S&P Rally; CATL Debut Highlights Hong Kong Revival
Asian shares rose for the first time in four days, mirroring gains in the US that placed the S&P 500 index on the brink of a bull market. A regional stock gauge gained 0.5% after the S&P 500 index climbed for a sixth straight day. Shares in Hong Kong advanced 0.3%, with Contemporary Amperex Technology Co. Ltd. jumping 13% in its local debut. Treasuries were steady after whipsawing on Monday with the downgrading of US debt by Moody's Ratings. US equity-index futures edged down while gold dipped 0.1% as haven demand ebbed. We break down the market reaction with Rob Williams, Managing Partner and Chief Investment Strategist at Sage Advisory Services. Plus - could Hong Kong's status as a global financial hub may be entering a new phase? With major listings like CATL and Hengrui Pharmaceuticals drawing significant foreign inflows, Bloomberg Opinion columnist Shuli Ren joins to discuss how the city is offering Chinese firms a path to global capital while sidestepping geopolitical flashpoints.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
China's Rare Earths Weapon Could Kill Europe's Auto Industry
China earlier this year introduced restrictions on its exports of rare earths. The move marked a new stage in the US- China trade spat, when the two sides no longer tried to out-tariff each other but took to more concrete steps. The problem is, the restrictions don't just apply to U.S. companies. And they may well deliver the fatal blow to Europe's struggling auto industry. China controls 90% of the world's rare earths processing capacity. It is the indisputable, if not exactly celebrated in the West, master of the rare earths industry. And now, it is using this position to make a point to trade partners that have gone above and beyond to restrict Chinese exports to their own countries and regions—essentially the same thing that Washington does when it uses the dominance of the dollar to sanction governments it doesn't see eye to eye with. Rare earths are used in a perhaps surprisingly wide variety of products. More specifically, it's rare-earth magnets that are troubling carmakers on both sides of the ocean. 'Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seat belts, speakers, lights, motors, power steering, and cameras,' the Alliance for Automotive Innovation, an industry body, wrote in a letter addressed to the Trump administration in early May. The letter, cited by Reuters in a recent report on the rare earths restrictions, is one of what looks like a cry for help that is only going to get louder. It was signed by auto industry leaders including Toyota, Volkswagen, and General Motors, which thanked the administration for trying to resolve the issue. If they didn't, the carmakers said, it would be only a matter of time before car factories started shutting same is happening in Europe, and it's worse—because with Trump, U.S. carmakers no longer have to worry about EVs. With the current European parliament and the Commission, local carmakers do have to worry about EVs, a lot. Because EVs feature greater amounts of those rare earths than internal combustion engine cars. And European carmakers have been mandated with the production and sale of certain minimum numbers of these EVs over the next three years. 'I informed my Chinese counterpart about the alarming situation in the EU car industry — the rare earth and permanent magnets are essential for industrial production… this is extremely disruptive for industry,' the European Union's trade commissioner, Maros Sefcovic, said this week, as quoted by the Financial Times. He added that the 'Carmakers are warning of huge production difficulties in a short period of time.' The clock, in other words, is ticking and China does not really seem in a hurry to stop it. The restrictions that Beijing implemented in mid-April are not literal—or direct. They are in the form of a new licensing regime for anyone who wants to buy rare earth magnets from Chinese producers. To do that, the prospective buyer needs to apply for a license, provide a substantial amount of information, and wait. As a Bosch spokesperson described it, the application process was 'complex and time-consuming, partly due to the need to collect and provide a lot of information.' Because of this complexity, only a few car parts suppliers have been granted such licenses, making the car companies' freak-out only a matter of time, really. But this is coming at a really bad time for European carmakers, despite the substantial rise in EV sales. They are still to turn in a solid profit on their electric cars and they are supposed to be making ever more of these—which means a lot more rare earths. Things are not that swell in the United States, either, after President Donald Trump accused the Chinese of violating a deal the two earlier agreed, on the temporary relaxation of trade warfare, including tariffs and other trade restrictions—only to be slapped back with the accusation that he did that first, by restricting semiconductor exports. Things are not looking good for the car industry right now but there is, as always, a silver lining. It consists in the fact that the world is entirely dependent on a single source of rare earths and this is not a sustainable or secure state of affairs. There has been a lot of talk in both Europe and the United States about building their own supply chains in such critical materials but action has not really been forthcoming. Even if it was, building a supply chain from scratch takes many years—just ask China. Yet the rare earths drama may boost Europe's resolve to actually start working on that supply chain, however long it takes to build it. Import dependence can be fatal. By Irina Slav for More Top Reads From this article on
Yahoo
20 minutes ago
- Yahoo
Key US-China trade talks set for Monday in London
LONDON (Reuters) -Top U.S. and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two superpowers that has widened in recent weeks beyond tit-for-tat tariffs to export controls over goods and components critical to global supply chains. At a still-undisclosed venue in London, the two sides will try to get back on track with a preliminary agreement struck last month in Geneva that had briefly lowered the temperature between Washington and Beijing and fostered relief among investors battered for months by U.S. President Donald Trump's cascade of tariff orders since his return to the White House in January. "The next round of trade talks between the U.S. and China will be held in the UK on Monday," a UK government spokesperson said on Sunday. "We are a nation that champions free trade and have always been clear that a trade war is in nobody's interests, so we welcome these talks." Gathering there will be a U.S. delegation led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, and a Chinese contingent helmed by Vice Premier He Lifeng. The second-round of meetings comes four days after Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. During the more than one-hour-long call, Xi told Trump to back down from trade measures that roiled the global economy and warned him against threatening steps on Taiwan, according to a Chinese government summary. But Trump said on social media the talks focused primarily on trade led to "a very positive conclusion," setting the stage for Monday's meeting in London. The next day, Trump said Xi had agreed to resume shipments to the U.S. of rare earths minerals and magnets. China's decision in April to suspend exports of a wide range of critical minerals and magnets upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. That had become a particular pain point for the U.S. in the weeks after the two sides had struck a preliminary rapprochement in talks held in Switzerland. There, both had agreed to reduce steep import taxes on each other's goods that had had the effect of erecting a trade embargo between the world's No. 1 and 2 economies, but U.S. officials in recent weeks accused China of slow-walking on its commitments, particularly around rare earths shipments. "We want China and the United States to continue moving forward with the agreement that was struck in Geneva," White House spokeswoman Karoline Leavitt told the Fox News program "Sunday Morning Futures' on Sunday. "The administration has been monitoring China's compliance with the deal, and we hope that this will move forward to have more comprehensive trade talks." The inclusion at the London talks of Lutnick, whose agency oversees export controls for the U.S., is one indication of how central the issue has become for both sides. Lutnick did not attend the Geneva talks, at which the countries struck a 90-day deal to roll back some of the triple-digit tariffs they had placed on each other since Trump's inauguration. That preliminary deal sparked a global relief rally in stock markets, and U.S. indexes that had been in or near bear market levels have recouped the lion's share of their losses. The S&P 500 Index, which at its lowest point in early April was down nearly 18% after Trump unveiled his sweeping "Liberation Day" tariffs on goods from across the globe, is now only about 2% below its record high from mid-February. The final third of that rally followed the U.S.-China truce struck in Geneva. Still, that temporary deal did not address broader concerns that strain the bilateral relationship, from the illicit fentanyl trade to the status of democratically governed Taiwan and U.S. complaints about China's state-dominated, export-driven economic model. While the UK government will provide a venue for Monday's discussions, it will not be party to them but will have separate talks later in the week with the Chinese delegation.
Yahoo
an hour ago
- Yahoo
5th BEYOND Expo 2025 Creates an Enduring Legacy for Asian Tech Innovation
A record number of exhibitors and unprecedented investor participation defined this year's success. New business matchmaking milestones further elevated BEYOND Expo 2025. Fund at First Pitch, Innovation Awards, Founder Stage and Founders Club Among Key Initiatives Supporting Entrepreneurs from across Asia. MACAO, June 9, 2025 /PRNewswire/ -- The 5th BEYOND Expo concluded at The Venetian® Macao's Cotai with unprecedented momentum, cementing its role as a cornerstone for Asian tech innovation under the theme "Empowering Asia, Bridging the World." From inspiration by startups to wisdom shared by Alibaba Group's Chairman Joe Tsai, tech leaders and visionaries illustrated BEYOND Expo's commitment to supporting tech innovation in Asia. This year's BEYOND Expo attracted a record-breaking 25,000+ visitors, 800+ exhibitors, 300 media representatives, and over 800 investors, including more than 300 family offices and LPs, from over 120 countries — the highest numbers to date. Covering sectors from AI, Healthcare, Mobility, Property Tech, Clean Energy, Robotics, Fashion Tech, Sports Tech, to Web3, this year marked the largest and most content-rich BEYOND Expo to date. Beyond the breadth of industry focus, BEYOND Expo also deepened its commitment to regional collaboration through a series of forums spotlighting strategic markets such as Southeast Asia, Japan, the Middle East, Latin America, and Europe. This dual emphasis on sector innovation and regional opportunity positioned BEYOND Expo as one of the most prominent and impactful pan-Asian tech gatherings ever held. BEYOND Expo Co-Founder Dr. LU Gang said, "This year there has been a tremendous energy around BEYOND Expo, fueled by Asia's rapid rise in frontier technologies and a greater desire for inter-Asian collaboration and cooperation. The products and solutions on display demonstrate just how much AI is transforming so many aspects of our lives, from the food we eat and the clothes we wear to how we interact with each other. Our ecosystem partners, including media, investors, incubators, and suppliers, are driving this momentum and nurturing next-generation technologies." BEYOND Expo recognized some of these innovators by presenting 25 Innovation Awards and hosting competitions such as Fund at First Pitch (FAFP), which attracted 150 competitors. JumpStart Media Executive Chairman James Kwan chaired the 2025 FAFP finale, which featured three high profile investors as judges: Artest Management Group (AMG) Chairman, Metta World Peace; Gobi Partners Co-founder and Chairperson, Thomas Tsao, and Lingotto Innovation Managing Partner & Co-Head, Morgan Samet. BEYOND Expo Co-Founder Jason Ho added, "The impact of BEYOND Expo 2025 extends beyond the event itself. It has matured into a year-round ecosystem with the BEYOND Global Network and BEYOND Founders Club, initiatives that support the global expansion of Asian tech companies and foster knowledge and resource sharing among entrepreneurs, driving technological advancements to address global challenges." Most International Speaker Lineup and Dynamic Stage Experience in BEYOND's History During the three-day exhibition, BEYOND Expo delivered its most internationally diverse and intellectually stimulating content lineup ever. More than 300 speakers from across the globe, including Greater China, the United States, United Kingdom, Portugal, the Netherlands, Belgium, Brazil, Mexico, UAE, Singapore, Japan, South Korea, Thailand, Malaysia, Indonesia, Vietnam, Pakistan, and beyond, took the stage to share bold ideas and transformative insights. Seven thematic stages were strategically placed across the expo floor, offering an immersive and accessible experience for all attendees. From visionary keynotes to dynamic roundtables, these sessions spanned global trends and regional collaboration, across topics such as: Global Vision Summits: The BGlobal Summit, Global Investment Summit, Wealth Summit and Cross-Border E-commerce Ecosystem Forum explored how Asian innovators are scaling globally. Regional Collaboration Forums: Asia-Europe Tech Forum, Asia-Latam Tech Forum, ORIGIN Southeast Asia Conference, Japan Tech Forum, and the Zayed Sustainability Prize China Forum created rare opportunities for cross-regional partnerships and investment dialogues. Frontier Tech Spotlights: AI Summit, Web3 + AI Forum, Founders Talk, Transportation & Mobility Summit, Sports Tech Forum, Fashion Tech Forum, International Industrial Design Forum, and Gen Z Founder Forum brought cutting-edge conversations and industry innovation to the forefront. Women in Tech: The SheTech Summit championed greater representation and leadership for women in the tech ecosystem. This comprehensive summit program reinforced BEYOND Expo's status as a leading platform for driving innovation, collaboration, and growth in Asia's technology ecosystem. A Special Focus on Asia's Unicorn Founders The Opening Ceremony on May 21 convened some of the most influential minds in Asian tech to explore the theme "What's Next?". Among the featured speakers were Dr. Jian Wang, President of Zhejiang Lab and Founder of Alibaba Cloud; Carl Pei, Co-founder and CEO of Nothing; Dr. Burt Guo, CEO and Chief Scientist of Sichuan Aerofugia; Yuekai Zhao, Co-founder of Agile Robots SE; and Jingkang Liu, Founder of Insta360. A standout moment was the roundtable with unicorn founders, where these leaders exchanged bold ideas on scaling globally from Asia, a region rapidly emerging as the heartbeat of next-gen innovation. Building on that momentum, the two-day Founder Talk featured over 30 trailblazing founders driving breakthroughs in AI, robotics, consumer tech, and sustainability. The stage also welcomed over 25 rising stars at the Gen Z Founder Forum and Gen Z Awards Ceremony, where young innovators showcased tech-driven solutions to global challenges. From unicorn visionaries to next-generation disruptors, BEYOND Expo celebrated the full spectrum of entrepreneurial ambition shaping the future of Asia and beyond. Media Day Previewed BEYOND Expo 2025's Innovation Held ahead of the main exhibition, the Media Day welcomed Beyond Expo product showcases, Media Day facilitated meaningful exchanges between innovators and the global press, setting the stage for a high-impact expo with worldwide reach. A showcase for the tech-inspired products of the future BEYOND Expo showcased over 1,000 high-tech products, targeting daily lifestyle and sustainability solutions. These included biodegradable materials, enhanced earphones and speakers, smart eyewear, healthy food, humanoids, medical devices, robotic pets, sleeping aids, and future mobility solutions. B2B applications included AI-reality-inspired software, medical devices, energy-saving and industrial robots. Unmatched B2B Engagement and Industry Matchmaking For the first time, BEYOND Expo hosted multiple on-site business matchmaking sessions over three days, connecting key industry players. Major corporations such as China State Construction International, China Taiping, Sands China, CATL, Tokyu Land Corporation, BMW Group, Sony, Makuake, Mitsubishi Estate, and Panasonic participated, signaling strong demand for real-time, high-value engagement between corporates and innovators. These sessions provided both sides with an efficient platform to identify strategic partners and explore collaborative opportunities. International Delegations and Buyer Groups Expand Global Reach This year also saw the participation of numerous international delegations and "buyer groups," further amplifying BEYOND Expo's reach. Representatives from Deloitte China, BMW Group, Japanese buyer groups, Western crowdfunding platform executives, and prominent overseas influencers all engaged with exhibitors, many of whom reported valuable feedback and new partnership leads. BEYOND Expo was positioned as a global gateway for companies aiming to scale across Asia and beyond, while spotlighting the region's confidence and capacity in innovation. Backing the Region's Boldest Innovators BEYOND Expo further strengthened its commitment to supporting emerging companies with expanded programming tailored for startups. At the heart of Growth Park, a newly launched multi-purpose stage served as a high-impact arena for product unveilings, startup-focused events, and strategic partnership announcements. The Demo Stage, a headline feature of this space, gave rising tech companies the chance to debut their latest innovations in front of a global audience, including investors, media, and industry leaders. After Hours: Where Innovation Met Entertainment As day turned to night, BEYOND Expo 2025 transformed into a vibrant celebration where technology and culture seamlessly converged. Each evening featured exclusive events that blended immersive entertainment with meaningful networking opportunities. From Welcome Night and Gala Dinner to dynamic pool parties energized by live DJs, an electrifying performance by Jax Jones, and the breathtaking Cirque Le Soir circus spectacle, BEYOND Expo offered unforgettable experiences that extended the spirit of innovation well beyond the conference halls. BEYOND Expo 2025 Partners BEYOND Expo 2025 was made possible with the generous support of Strategic Partners China State Construction International Holdings Limited and China Taiping; Platinum Partners Taobao 88VIP and Macau Pass | MPay; Gold Partner Nam Kwong (Group) Company Limited; Sustainability Partner the Zayed Sustainability Prize; and Venue Partner Sands China Ltd. Additional partners included Asian Family Legacy Foundation, ChainNeXT, Design School of Hunan University, Founders Breakfast, Greenwich Economic Forum, GWA, MAP, INNOBAKER, IESt, Lushan Laboratory, ReGACY Innovation Group, RMI, Sherewires, SIEF, TNGlobal, wteam, and yehyehyeh. A full list of participating companies can be found here: BEYOND EXPO 2025 About BEYOND Expo The BEYOND International Technology Innovation Expo (BEYOND Expo) is Asia's leading annual technology event. Serving as a dynamic platform since 2021, BEYOND Expo not only showcases global technological innovations but also provides a unique opportunity to foster innovation upgrades across diverse industries and regions. BEYOND Expo has attracted participation from Asia's Fortune 500 companies, multinational corporations, unicorn companies, and emerging startups. Through a multifaceted approach involving expos, summits, and various activities, BEYOND Expo has successfully cultivated an innovative ecosystem, propelling collective development in the Asia-Pacific region and the global technology innovation industry. View original content to download multimedia: SOURCE Beyond EXPO
