
Chinese Stocks Slide as Trade Truce Seen Dashing Stimulus Hopes
The Hang Seng China Enterprises Index dropped as much as 1.9% after climbing 3% in the previous session on optimism over thawing Sino-US tensions. The onshore benchmark CSI 300 Index erased earlier gains.

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Forbes
30 minutes ago
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Grab Partners With WeRide To Rollout Robotaxis Across Southeast Asia
Ride-hailing and delivery giant Grab Holdings is teaming up with WeRide to accelerate the deployment and commercialization of autonomous vehicles across Southeast Asia. Under the deal, Singapore-based Grab said it will make a strategic investment to support WeRide's commercial autonomous vehicle fleet in Southeast Asia and push AI-driven mobility. The transaction is set to be completed in the first half of 2026, it added, without disclosing financial details. 'We want everyone in Southeast Asia to have access to reliable transportation whenever they need it,' Grab Group CEO and co-founder Anthony Tan said in a joint statement on Friday. 'However, manpower constraints remain a challenge. We believe autonomous vehicles can complement our driver network and be deployed in cities with significant driver shortages.' The expanded partnership follows a preliminary agreement signed by both Nasdaq-listed companies in March this year to explore the technical feasibility and commercial viability of autonomous vehicles in Southeast Asia. Grab's investment will accelerate the deployment and commercialization of WeRide's level 4 autonomous vehicles (which are designed to operate in specific geographies and weather conditions without human intervention) in Southeast Asia, Guangzhou, China-based WeRide said in the statement. 'WeRide's vision for Southeast Asia is to deploy thousands of Robotaxis across the region,' Tony Han, founder and CEO of WeRide, said. 'Grab, our newest partner and investor, is a household name in Southeast Asia with unmatched regional expertise and scale in ride-hailing and digital services.' WeRide has permits to operate autonomous vehicles across China, France, Saudi Arabia, Singapore, United Arab Emirates and the U.S. It posted a net loss of 406.4 million yuan ($57 million) in the second quarter, slightly narrower than a year ago, as revenue jumped 61% to 127.2 million yuan. Grab swung to a $35-million net profit in the second quarter, compared with a $53 million net loss a year ago as sales climbed 23% to $819 million on the back of sustained demand for ride-hailing and delivery services in Southeast Asia. It added about two million monthly active users during the quarter, bringing its total to 46 million.
Yahoo
an hour ago
- Yahoo
Jim Cramer Discusses NVIDIA Return to China Market
NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks Jim Cramer recently discussed. Cramer discussed the company's business with China during the episode. He said: 'This morning, we learned that the US government is planning to take a 15% cut on all the AI chips that these two companies are currently selling to China. For NVIDIA, that means a 15% cut on the H20, which was their cutting-edge chip for AI a few years ago, something they were previously banned from selling in the PRC. The president then said that NVIDIA might be getting approval to sell a next-generation chip to the Chinese, something, wow, more like their current version, Blackwell, except it won't have as much computing power. We didn't expect that Blackwell could be allowed in China. This was a big deal that the market completely just ignored. That was a mistake. President had asked for 20% cut of revenues, but NVIDIA CEO Jensen Huang bargained him down to 15%. That was good… NVDA Headquarters Courtesy of NVIDIA NVIDIA Corporation (NASDAQ:NVDA) designs GPUs, AI platforms, cloud services, and software for gaming, professional visualization, data centers, automotive, and robotics applications. While we acknowledge the potential of NVDA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
an hour ago
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Alibaba to Exit Indian Food Delivery Company Eternal with $613M Stake Sale
Alibaba Group Holding Limited (NYSE:BABA) is one of the best high-volume stocks to invest in. On August 6, it was reported that China's Alibaba Group would be selling its entire stake in the Indian company Eternal through a block deal. According to a CNBC-Awaaz report, the deal is valued at 53.75 billion Indian rupees, which is ~$613 million. The block deal involves Alibaba's unit, called Antfin Singapore, which held a 2.08% stake in Eternal as of the end of June this year. An e-commerce platform displaying a wide range of products to customers online. The company will offload this entire stake at a floor price of 285 rupees per share, which represents a 4.6% discount to Eternal's closing price on August 6. Eternal is the parent company of the food delivery service Zomato and the quick commerce arm Blinkit. Neither Antfin nor Eternal has responded to requests for comment from Reuters. Alibaba Group Holding Limited (NYSE:BABA) provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses engage with their users and customers in the People's Republic of China and internationally. While we acknowledge the potential of BABA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data