Linear Capital's Wang on Investment Strategy
Harry Wang, founder and CEO of Linear Capital, says he sees a complete decoupling between China and the US in technology, and shares more on his investment strategy in the Chinese tech sector. He speaks with Annabelle Droulers on the sidelines of the BEYOND Expo in Macau on "Insights with Haslinda Amin'. (Source: Bloomberg)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Washington Post
17 minutes ago
- Washington Post
Pentagon review rattles submarine deal amid fears of China's naval edge
A Pentagon review of the multibillion dollar deal that will see the United States and United Kingdom supply Australia with nuclear-powered submarines has unsettled a key ally as China ramps up its naval ambitions for regional dominance. In Washington, the review reflects a concern among Trump administration defense officials and China-focused lawmakers: that the terms of the deal might risk the U.S. not having enough of its own ships and submarines to face off against Beijing's swelling supply. A senior U.S. defense official said the Pentagon is reviewing the Biden-era AUKUS agreement to ensure it is 'aligned with the President's America First agenda,' and that allies 'step up fully to do their part for collective defense,' echoing a broader agenda spearheaded by Defense Secretary Pete Hegseth that argues the U.S. needs to prioritize its own needs over those of others and compel allies to contribute more to their own defense. The uncertainty, analysts say, is amplified at a time when the administration is reshuffling its commitments in Europe and urging key allies to spend more on defense — including Taiwan and Australia — as Trump officials refocus U.S. strategy on the Indo-Pacific and the growing threat from Beijing. China's naval fleet now outnumbers that of the United States, with more than 370 vessels. Still, China lags behind the U.S. in overall vessel tonnage and technological sophistication, including in its undersea fleet, with just 12 nuclear-powered submarines compared to more than 65 operated by the U.S. Navy. 'The U.S. is not building enough submarines as per its own needs. And in the U.S. shipbuilding industry, the increase that's needed to produce for its own needs, let alone have the additional capacity to hand over Virginia-class submarines to Australia, that is a well-known problem,' said Nishank Motwani, a Washington-based analyst Australian Strategic Policy Institute (ASPI), a government-funded think tank. AUKUS includes a long-term goal for Australia to develop its own nuclear-powered submarines in the 2040s, with U.S.-made submarines to be sold to Australia in the interim, as soon as 2030. The agreement also encompasses extensive technological cooperation across other areas of defense, broadly aimed at countering China's growing influence in the Indo-Pacific. The review of AUKUS, first reported by the Financial Times on Wednesday, is being spearheaded by Undersecretary of Defense for Policy Elbridge Colby, who has previously voiced doubt about U.S. plans to sell nuclear-powered submarines (SSNs) to Australia, arguing that America's own fleet is insufficient amid the growing threat of Chinese military action in the Indo-Pacific. The Virginia-class submarines that Australia is set to receive — including an initial purchase of three, with the option to buy two more to bridge the gap before British-designed SSNs arrive in the 2040s — are already behind schedule, U.S. military officials say. Each vessel costs roughly $4.3 billion, and the U.S. Navy's goal of maintaining a 66-boat SSN fleet remains unmet, with the current force hovering around 50. The proposed sale of up to five submarines to Australia would set back the U.S. SSN force into the 2040s, according to estimates from the Congressional Research Service. To meet that demand, the Virginia-class program is aiming to produce two submarines a year by 2028 — and more than 2.3 annually in the years that follow to fulfill both U.S. and AUKUS requirements. But those targets remain distant. At an April hearing of the Senate Armed Services Committee's sea power subcommittee, Navy Rear Adm. Jonathan E. Rucker, the Navy's program executive officer for attack submarines, said 14 Virginia-class boats are currently under construction — and output is averaging just 1.13 per year. 'The main causes for this are workforce challenges, material and supplier delays and shipbuilder facilities and infrastructure issues — all of which are driving cost increases and schedule delays,' Rucker said. In a series of posts on the social media platform X late last year, Colby raised doubts about the viability of U.S. submarine sales to Australia, arguing that the American fleet is already stretched too thin to meet its own needs in the event of a Chinese invasion of Taiwan. 'In principle [AUKUS is] a great idea. But I've been very skeptical in practice,' he said. During his senate confirmation hearing in March, Colby expressed conditional support for the AUKUS submarine deal. 'If we can produce the attack submarines in sufficient number and sufficient speed, then great. But if we can't, that becomes a very difficult problem,' he said. In April, President Donald Trump signed a sweeping executive order aimed at reclaiming a share of the global shipbuilding industry from China — a daunting task. China controls more than half of the world's commercial ship production, driven by massive shipyards along its eastern coast. The United States, by contrast, accounts for less than 0.1 percent of global shipbuilding output. Lawmakers on both sides of the aisle have raised warnings that Beijing's dominance in commercial shipbuilding emboldens its naval forces. In April, the House Select Committee on the Chinese Communist Party praised the U.S. Trade representative's decision to investigate an alleged Chinese shipbuilding monopoly. Last July, former Deputy Secretary of State Kurt Campbell — who helped craft the AUKUS pact — called the gap between U.S. and Chinese shipbuilding capacity 'deeply concerning.' Democratic lawmakers have pushed back at the suggestion that unraveling the submarine pact would enhance U.S. readiness in the Indo Pacific, arguing that it would enhance — rather than diminish — America's strategic reach in the region. Part of the AUKUS agreement includes building infrastructure to support U.S. submarines in Australia. U.S. vessels have already begun a series of visits to pave the way for Submarine Rotational Force West, an AUKUS initiative that will see American submarines regularly rotate through a base in Western Australia. 'If this Administration is serious about countering the threat from China — like it has said as recently as this morning — then it will work expeditiously with our partners in Australia and the U.K. to strengthen this agreement and ensure we are taking steps to further boost our submarine industrial base,' said Sen. Tim Kaine (D-Virginia), who sits on the Senate Armed Services Committee, in a statement on Thursday. 'To walk away from all the sunk costs invested by our two closest allies — Australia and the United Kingdom — will have far-reaching ramifications on our trustworthiness on the global stage,' said Rep. Joe Courtney (D-Connecticut), top democrat on the House Seapower and Projection Forces Subcommittee. The review of the AUKUS pact comes amid tepid support for Australia's defense efforts among senior Trump administration defense officials, some of whom have expressed frustration with Canberra's military commitments. Australian officials on Thursday downplayed reports of the Pentagon review, emphasizing that AUKUS has received consistent bipartisan support in the U.S. and remains backed by the Trump administration. 'It is natural that the Administration would want to examine this major undertaking including progress and delivery, just as the UK Government recently concluded an AUKUS review and reaffirmed its support,' said Defense Minister Richard Marles in a statement. 'We look forward to continuing our close cooperation with the Trump Administration on this historic project,' he added. In a separate interview with Australia's ABC Radio, Marles said that he had been aware the project — launched in 2020 under former president Joe Biden — had been under review 'for some time.' Marles traveled to Washington in February to meet Hegseth, delivering a $798 million payment — the first installment of Australia's $4.78 billion commitment for the submarine deal. At the time, Hegseth said Trump was 'very supportive' of the deal. Since then, Hegseth has chafed at Australia's defense spending, urging the nation of 26 million to raise its military budget to at least 3.5 percent of GDP — up from roughly 2 percent — echoing earlier calls by Colby for a figure above 3 percent. Australian Prime Minister Anthony Albanese pushed back, insisting that Australia will set its own defense policy. Scrutiny of the U.S.-Australia defense partnership is intensifying ahead of next week's G-7 summit in Canada, where Albanese and Trump are expected to meet in person for the first time. The review also comes as China makes increasingly assertive moves at sea, pushing its naval presence deeper into waters near U.S. allies and expanding its reach far beyond its own shores. This week, Beijing deployed two aircraft carriers into waters near Japan for the first time — rattling Tokyo. Earlier this year, a Chinese flotilla of three warships conducted an unprecedented patrol through international waters off Australia's east coast, drawing a sharp rebuke from the Australian government. 'Australia was made to feel very unsafe and threatened,' ASPI's Motwani said. 'Every day the reality is sinking in that [the delivery of AUKUS submarines] is still eight years away — best-case scenario.' Michael Miller in Sydney contributed to this report.
Yahoo
21 minutes ago
- Yahoo
The Best Way to Deploy $10,000 in This Market Environment
Written by Adam Othman at The Motley Fool Canada April 2025 saw global stock markets enter a strange phase of declines when the newly reelected US President, Donald Trump, announced new tariffs. Trump did not spare any country from tariffs, including Canada and Mexico. Among the targets for new tariffs was China which, in turn, applied tariffs on US goods as well. That followed a bit of back and forth, which also saw Trump suspend tariffs for 90 days across the board, except on China. As of this writing, the tariffs remain at a standstill, and the US-China trade tensions seem to be easing up. However, nobody knows how long that'll last. There is a high likelihood of things turning south. Since the announcement of tariff suspensions, the S&P/TSX Composite Index, the benchmark index for the Canadian stock market, has climbed by over 17%. However, many analysts still fear a recession. If a recession does come to pass, it may be better to prepare and implement a defensive strategy. The goal should be to identify and invest in TSX stocks capable of weathering a potential recession and emerging stronger on the other side. Against this backdrop, the following two TSX stocks might be good picks to consider. Telus Corp. (TSX:T) is one of the top telecom companies in Canada. The $33.5 billion market capitalization company, headquartered in Vancouver, is one of the Big Three telcos. It has around a third of the mobile phone subscriber market. Telus also has a wireline presence in the Quebec region. More recently, the company has started increasing its fibre optic footprint to upgrade its infrastructure and offer better value to customers. In this day and age, everyone needs to be connected with the rest of the world. Telcos like Telus are and shall continue to be essential businesses. Telus fulfills an important need for its consumers with its wireline and wireless internet services. The company also has several subsidiaries operating in various sectors to diversify the its revenue streams. As of this writing, Telus stock trades for $21.99 per share and boasts a juicy 7.6% dividend yield that you can lock into your portfolio today. Fortis Inc. (TSX:FTS) is undoubtedly my top pick when it comes to investing in utility companies. Utility businesses don't offer much in terms of capital gains. Typically, utility stock prices are less affected by the rest of the market. As boring as that might be for growth-focused investors, it is this same defensive factor that makes them a good holding during market downturns. Fortis is a $32.6 billion market cap utility holding company that owns and operates several electric and natural gas utility businesses across Canada, the US, and the Caribbean. It serves over 3.4 million customers, operating in highly rate-regulated markets. Most of its revenue comes from long-term contracted assets. All these factors mean it generates stable and predictable cash flows across market cycles. In turn, the company can use the proceeds to fund capital programs and increase shareholder dividends. As of this writing, FTS stock trades for $64.93 per share and boasts a 3.8% dividend yield, accompanied by a 50-year dividend-growth streak. Considering how stocks across the board seem to be appreciating in value right now, preparing for a recession might seem like you're being overly cautious. However, it is always a good idea to hope for the best but prepare for the worst. To this end, making defensive investments focusing on financial resilience and capital protection makes sense. Fortis stock and Telus stock are two blue-chip Canadian stocks that I feel will work well for this goal. The two industry-leading stocks offer the kind of cash flows and revenue supported by defensive business models that can make them excellent long-term holdings for your self-directed portfolio. The post The Best Way to Deploy $10,000 in This Market Environment appeared first on The Motley Fool Canada. More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool recommends Fortis and TELUS. The Motley Fool has a disclosure policy. 2025
Motor Trend
23 minutes ago
- Motor Trend
How Much Is a Tesla? See What You'll Pay for the New Model S and X
Everyone knows they're not cheap, but exactly how much does a Tesla cost? There's a huge difference in price between the cheapest Tesla and the most expensive Tesla. The EV lineup works for a wide variety of budgets and expectations. Tesla changes its prices and trim levels frequently now, but below you'll find pricing information for each Tesla model as of this writing, with reference points to how the prices most recently changed. Unfortunately, though the original Federal tax credits on Tesla vehicles have ended, the Inflation Reduction Act's revised credits are fair game for certain models. And you can still take advantage of state credits. Keep reading to learn how much you can expect to spend on a new Tesla. How Much Is a Tesla Model 3? As the cheapest Tesla available, the Model 3 has a lot to offer, including strong range and sleek styling that grows sleeker for 2024. Tesla has updated the 3 for the first time this year, and the enhancements are enough to earn the sedan the internal designation "Highland." You'll notice the thinner headlights, revised taillights, fresh wheel designs, and the markedly nicer interior just from photos. Get behind the wheel to experience the improved ride quality and newly hushed cabin—it's much, much quieter than before thanks to acoustic glass all the way around, better insulation, and nicer interior materials. So, surely this improved Model 3 costs way more, right? Wrong! Even accounting for some late-2023 price changes—er, pricing rollercoasters—that saw fire-sale MSRPs on pre-Highland 3s, the new Model 3's $40,630 price tag was pretty much the same as before, including destination and the mandatory $250 order fee. That's for a rear-drive Standard Range Model 3, which arrives with a slight bump in estimated range, from last year's 267 miles to 272. Tesla didn't change any of the 3's mechanicals as part of the Highland updates, but improved aerodynamics and new, Tesla-specific tires are behind the mileage bump. At least, that was the Model 3 Standard Range's price—before Tesla discontinued the price-leader variant in fall 2024, leaving behind a version with longer range that actually costs even less, technically. Wait, huh? That would be the Long Range model, which recently welcomed a lower-cost, higher-range rear-wheel-drive variant back into the fold. The Model 3 RWD Long Range hasn't been available since 2019, but is now back in new Highland form delivering a Model 3 lineup–topping 363 miles of range. Its price is a nice $44,130, just $3,500 more than the now-defunct Standard Range model, and even better, it qualifies for the $7,500 EV tax credit—effectively dragging its price down to just $36,630, lower than even the basic rear-drive Model 3 Standard Range (which didn't qualify for the same credit—a likely reason why it's now gone from the lineup, besides its China-sourced LFP batteries potentially spelling trouble with upcoming tariffs on China-sourced EV components). As the least-expensive, biggest-range Model 3, the Long Range is going to be tough to pass up for most buyers. Tesla is keeping the dual-motor Long Range variant around, too, which adds a front drive motor for all-wheel drive, along with the same larger battery for improved range. It now starts at $49,130 (including Tesla's $1,390 destination charge and $250 order fee). Its range dips slightly, from last year's claimed 353 miles (358 per the EPA's website), to 341. The racier Performance model is also back, with 510 hp, 303 miles of range, and a $56,630 price tag including destination. Like its big-battery stablemates, the Long Range models, the Performance also qualifies for the EV tax credit. So, while it's great that Tesla's lowered or held the line on the 3's prices and figured out a way for them to qualify for those credits, remember, the cheapest variant no longer qualifies for the full $7,500 Federal EV tax credit, thanks to its China-sourced batteries. And every paint color save the new Stealth Grey costs extra, from $1,000 for Pearl White and Deep Blue to $1,500 for Solid Black and $2,000 for the also-new Ultra Red. How Much Is a Tesla Model S? The all-wheel-drive-only Tesla Model S is significantly more expensive than the Model 3, but recently its price swelled even higher following a mild update for 2026. The standard Dual-Motor, Long-Range variant (now just called "Model S" on the company website), which travels an estimated 410 miles on a full charge (up 5 miles from before the refresh), is now priced at $86,630, up from $74,380. After the tri-motor Plaid variant saw its price hiked, first from $119,690 to $131,190 after the news dropped that Tesla won't make the 520-mile, higher-performance Plaid+ model, which CEO Elon Musk claimed is no longer necessary, it saw yet another jump to a whopping $137,190. That was previously slashed to just $116,380, and then to only $89,380—lower than the Plaid has ever been priced—but it's now up to $101,630 following the 2026 update. This might just be worth it—although its driving range falls to an estimated 368 miles, the Model S Plaid benefits from a manufacturer-estimated 0-60 mph time of fewer than 2.0 seconds and a top speed of 200 mph. In our tests, a less powerful dual-motor Tesla Model S Plaid zoomed to 60 mph in just 2.1 seconds. That makes it the quickest production car we've tested. How Much Is a Tesla Model X? Just as the Model S receives changes for 2026, so does the Model X. Range is up, going from 348 miles on the regular Model X to 352, while the price also rises (by a lot more). The entry-level Model X now costs $91,630 out of the box—up big time from the $79,380 it went for pre-update (though still down big time from its $122,190 price tag not so long ago). The high-performance Model X Plaid's range drops to an estimated 335 miles (up from 333 miles!), but like the Model S Plaid, it delivers quicker acceleration and a higher top speed. Prices for this trim had started at an eye-watering $140,190, but like other Tesla prices have plunged in recent years to $121,380, close to its original ask when it first debuted, and most recently as low as $94,380—but the 2026 Model X Plaid now starts at $104,990. The Model X comes standard with five seats. A six-seat configuration costs an extra $6,500, and a seven-seat configuration costs $3,500. How Much Is a Tesla Model Y? The Model Y, Tesla's compact SUV, as of January 2025, is new. Tesla has introduced the new-gen Y referred to online as the "Juniper." After initially only selling the Launch Series special-edition launch version starting at $61,630—and is based on the dual-motor, Long Range variant and is claimed to deliver 320 miles of range—Tesla has begun fleshing out the rest of the "regular" lineup, which was being covered by remaining previous-generation Model Y inventory until just recently. Those non-Launch Series Model Ys are the Long Range, Dual Motor example starting at $50,630 with destination and order fees included, as well as the more recently introduced Long Range, Single Motor variant going for the same $46,630 as the equivalent pre-Juniper model. The Dual Motor good for as much as 327 miles of range and qualifies for the $7,500 federal EV tax credit, too, though its price is slightly higher than last year's equivalent Long Range Dual Motor Y. The Single Motor version ups that range figure to 357 miles and also qualifies for the EV tax credit. So far, there is no Single Motor, Standard Range model, as was offered previously; that version was a price-leader, starting at $44,380 including the destination fees but before factoring in any incentives (namely the $7,500 federal EV tax credit it qualifies for), but only good for 260 miles of estimated range. The Performance variant offered previously is similarly on hiatus but expected to rejoin the lineup with Juniper upgrades soon. The Model Y comes standard with five seats; however, before Juniper, paying $2,000 extra added a small third-row bench to Long Range models, which brought the SUV's seating capacity up to seven; that option is missing from the new model for now, but we anticipate it's return soon. Drop another $1,000 and Tesla adds a tow hitch, which allows users to make the most of the SUV's available 3,500-pound towing capacity. How Much Is a New Tesla Roadster? Tesla has ambitious goals for its new Roadster: hit 60 mph in 1.9 seconds and achieve a range of 620 miles. Fittingly, prices will start around $200,000. The Founders Series, limited to the first 1,000 customers, is priced around $250,000. At this price, the Roadster is poised to become the most expensive Tesla in the lineup. As of right now, Tesla is taking reservations for the Roadster but the official on-sale date hasn't been announced. How Much Is a Tesla Cybertruck? The much-hyped and equally delayed Tesla Cybertruck all-electric pickup truck arrived for the first few customers in late November 2023. All other Cybertruck orders will be delivered through 2024 and start at $79,990 for the standard AWD version. If you want the most powerful version, you'll want the 845-hp Cyberbeast specification that's going on sale at $99,990 with its triple-motor layout and 35-inch tires on 20-inch wheels. Sad about that promised $39,900 version of the Cybertruck that's definitely no longer happening? There is a cheaper, rear-wheel-drive Cybertruck arriving in 2025—that'll start at $60,990. Range estimates are early, but Tesla claims that rear-drive Cybertruck will deliver 250 miles of range, the mid-level AWD version will get 340 miles (or up to 470 miles with an available range-extender battery), and the Cyberbeast will do a lower 320 miles (or "440+" with the extender). All Cybertrucks will be able to DC fast charge on Tesla's V3 Supercharger at a 250 kW rate, which can add between 128 to 136 miles of range in about 15 minutes. Another feature new for Tesla bi-directional charging capability, turning the Cybertruck into a rolling battery generator for your house—or a charger for other Teslas. It also features a 120-volt and 240-volt inverter with plugs located in the bed. In related news, you can see how much the Cybertruck will cost Tesla to build, and how much it could cost buyers to insure. How Much Is a Tesla Semi? Tesla's Semi, which has already received orders from companies like Walmart and J.B. Hunt, is expected to start around $150,000. Founders Series models are expected to go for around $200,000. Here again, an exact on-sale date has not been announced. But Tesla says the first Semi deliveries have already taken place as of early 2023, though they were originally promised way back in 2021. Full Self-Driving Capability Tesla offers what it calls Full Self-Driving Capability as a $15,000 option (it used to be $10,000). Tesla promises this hardware package will someday allow the car to drive itself without any input from the driver, but as of today, it is limited to advanced driver aids that fall short of allowing completely autonomous driving. *Prices listed do not include available government incentives How Much Does a Tesla Cost? Tesla Model 3 - $44,130 Tesla Model S - $86,630 Tesla Model Y - $43,930 Tesla Model X - $91,630 Tesla Roadster - MT Estimate: $200,000 Estimate: $200,000 Tesla Cybertruck - $79,990–$99,990+ Tesla Semi - MT Estimate: $150,000
