AIA eyeing KPMG to replace PwC as auditor
AIA said the potential change follows a 'thorough and competitive' tender process, subject to shareholder approval. Photo by REUTERS
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South China Morning Post
4 hours ago
- South China Morning Post
Caspar Fownes is ‘King of the Valley' once more, while Ellis Wong continues strong form
Caspar Fownes rocketed to the top of the unofficial Happy Valley trainers' championship and Ellis Wong Chi-wang continued his strong form as the pair bagged doubles at the city circuit on Wednesday night. Wins from Joy Of Spring in the Class Three Tai Tam Gap Handicap (1,800m) and Kaholo Angel in the card-closing Class Two Wan Chai Gap Handicap (1,200m) took Fownes to 23 victories at the track this season, with the 'King of the Valley' leapfrogging Mark Newnham to assume the lead. 'We're back in front. We'll keep doing our best,' said Fownes before praising his apprentice Wong. 'Lovely ride – he's ridden beautifully all night, the kid. He's come a long way, he's doing well and I'm sure everyone's going to want a piece of him now. Kaholo Angel does it again! 🔥 Three wins in four starts for Caspar Fownes' in-form grey galloper as @elliswong05 makes it a double tonight... #HappyWednesday | #HKracing — HKJC Racing (@HKJC_Racing) June 4, 2025 'Lovely to get that result with [Kaholo Angel]. When you get up to Class Two in Hong Kong, it's very tough and that looked a proper field. But Ellis gave him a lovely ride and thankfully he got it done.' After five wins in May – including three last week – Wong kicked off June in fine style with an early success aboard Mega Bonus for Ricky Yiu Poon-fai in the second section of the Class Four Wong Nai Chung Gap Handicap (1,200m) before delivering the goods aboard Kaholo Angel. 'I have to thank my boss [Fownes] for all his support. I've been lucky and [when you] start to ride well, the support starts to come and the confidence starts to come, too,' said Wong. 'I hope to get more winners and keep improving.' Also on Wednesday night, the win of S J Tourbillon was a welcome one for Karis Teetan, who ended a run of 39 rides without a victory by driving the Dennis Yip Chor-hong-trained galloper home in the Class Four Mount Nicholson Handicap (1,800m). HK Racing News Get updates direct to your inbox Sign up Best Bets Racing News By registering you agree to our T&Cs & Privacy Policy Error: Please enter a valid email. The email address is already in use. Please login to subscribe. Error, please try again later. THANK YOU You are one the list. Four wins from the past three fixtures for @elliswong05! 🔥 Our apprentice makes all aboard Mega Bonus for in-form trainer Ricky Yiu at Happy Valley...#HappyWednesday | #HKracing — HKJC Racing (@HKJC_Racing) June 4, 2025 'Dennis said the horse was in good shape and that the track should help him,' said Teetan after S J Tourbillon travelled three wide before barrelling home down the middle of the good-to-yielding track. 'The only thing he said was to get him out of the gates and get him into a good rhythm and I must say he let down nicely.' Teetan wasn't the only one seeing off something of a drought at the midweek meeting, with Keagan de Melo bagging his first success since early April. After enduring 38 losing mounts, South African De Melo speared the Douglas Whyte-trained Golden Darci up the inside from behind midfield in the Class Four Cricket Club Valley Stakes (1,200m). 'He trialled well at Conghua and Dougie was kind enough to give me the ride. Drawing barrier one was really a help and I was able to get close without using him,' De Melo said. S J Tourbillon (ex Roman Empire 🇮🇪) grabs a first win in 728 days at Happy Valley! 🤯 Formerly with @coolmorestud, the Galileo gelding powers through testing conditions with @KarisTeetan for Dennis Yip... 🌧️#HappyWednesday | #HKracing — HKJC Racing (@HKJC_Racing) June 4, 2025 'These conditions really suited him and he quickened through the line really nicely. 'Things are slowly starting to pick up. There's been a couple of suspensions along the way, but nice to get a win and I'm really grateful for the support I get.' The win was Golden Darci's second from his past three starts and continued an uptick in form for De Melo's countryman Whyte. 'He let down really well and I think Keagan gave him a good ride. He was patient, he waited for the gaps to present themselves and when they did, the horse let down well,' said the trainer. 'He looks like he loves the track. He loves the pace on. The draw was certainly beneficial tonight and I do think the cut in the ground made a significant difference to his performance. Brilliant steer, @kdemelo01! 🤯 South Africa's ace rider weaves to victory in the Cricket Club Valley Stakes with Golden Darci for @DJWhyteTrainer... 🏆#HappyWednesday | #HKracing — HKJC Racing (@HKJC_Racing) June 4, 2025 'He's got a bit of confidence about him now and let's hope he's on his way. 'It's slowly ticking over again,' added Whyte after moving to 23 successes for the season. 'The horses are at their right rating and I've got a lot of older horses that, towards the back of the season, always come good. 'When there's a bit of juice in the ground like this these older horses always let down a bit better. 'Things are coming together nicely. December, January, February were slow with young horses taking their time – just the normal Hong Kong season – but the back end of the season will be nice.'
South China Morning Post
7 hours ago
- South China Morning Post
Tech war: China's top three EDA firms under spotlight after US ban on chip design tools
Advertisement The restrictions, however, are expected to help strengthen China's semiconductor self-sufficiency efforts, according to the latest research note by ICBC Credit Suisse Asset Management. Following news of the US tech ban, the Shenzhen -listed shares of Empyrean, Primarius and Semitronix initially recorded strong trading, as investors hoped these firms could become major alternative EDA suppliers in China. Primarius surged over 22 per cent since Wednesday last week, while Semitronix and Empyrean rose over 17 per cent and 8 per cent over the same period, respectively. On Wednesday, Primarius fell 9.41 per cent to close at 28.80 yuan (US$4). Semitronix slipped 4.19 per cent to 55.85 yuan, while Empyrean was down 4.01 per cent to 125.09 yuan. Advertisement Still, investor interest in the three Chinese companies reflects room for growth, as they tap fresh opportunities in the domestic market.
South China Morning Post
8 hours ago
- South China Morning Post
Huawei claims better AI training method than DeepSeek using own Ascend chips
Researchers working on Huawei Technologies ' large language model (LLM) Pangu claimed they have improved on DeepSeek's original approach to training artificial intelligence (AI) by leveraging the US-sanctioned company's proprietary hardware. Advertisement A paper – published last week by Huawei's Pangu team, which comprises 22 core contributors and 56 additional researchers – introduced the concept of Mixture of Grouped Experts (MoGE). It is an upgraded version of the Mixture of Experts (MoE) technique that has been instrumental in DeepSeek's cost-effective AI models. While MoE offers low execution costs for large model parameters and enhanced learning capacity, it often results in inefficiencies, according to the paper. This is because of the uneven activation of so-called experts, which can hinder performance when running on multiple devices in parallel. In contrast, the improved MoGE 'groups the experts during selection and better balances the expert workload', researchers said. In AI training, 'experts' refer to specialised sub-models or components within a larger model, each designed to handle specific tasks or types of data. This allows the overall system to take advantage of diverse expertise to enhance performance. 01:38 China a 'key market', says Nvidia CEO Huang during Beijing visit as US bans AI chips China a 'key market', says Nvidia CEO Huang during Beijing visit as US bans AI chips The advancement comes at a crucial time, as Chinese AI companies are focused on enhancing model training and inference efficiency through algorithmic improvements and a synergy of hardware and software, despite US restrictions on the export of advanced AI chips like those from Nvidia
