China VC Funds Tap Global Investors for $2 Billion in Comeback
At least six of the country's most prominent VC firms are creating new dollar-denominated funds, designed to allow overseas investors to pool bets on Chinese companies. LightSpeed China Partners, known for backing Meituan and PDD Holdings Inc. in their early days, is targeting at least $400 million for a fund focusing on deep tech, according to people familiar with the matter.
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Yahoo
6 minutes ago
- Yahoo
Singapore NODX surges 13% y-o-y in June, economists mixed on forecasts
Some analysts see that frontloading could dampen growth in the second half, compounded by potential drag from US reciprocal tariffs. Singapore's non-oil domestic exports (NODX) 13% y-o-y climb in the month of June on the back of continued frontloading ahead of US President Donald Trump's July 8 deadline has inspired largely neutral outlooks from economists. Economists Chua Hak Bin and Brian Lee Shun Rong at Maybank Securities (Maybank) have upgraded their 2025 NODX forecast to 4%, which they note implies a slower growth of 2.8% in the second half. At the same time, the pair are reiterating their 2025 gross domestic product (GDP) growth forecast of 3.2%. Chua and Lee had previously upgraded their GDP forecast to 2.4%, following stronger-than-expected GDP growth in the second quarter. RHB Bank Singapore's (RHB) Barnabas Gan and Laalitha Raveenthar have also upgraded their NODX forecast for the full year to 2.0% from an initial 0.0%. At the same time, they retain their 2025 GDP forecast at 2.0% Fellow economist from UOB Global Economics and Market Research (UOB) Jester Koh is keeping his 2025 NODX forecast of 1.0% to 3.0% unchanged, while Oxford Economics' Sheana Yue has kept her 2025 GDP projection of 2.0% growth unchanged. The 13.3% surge included a $1.3 billion contribution from gold, without which NODX growth would have come in at 3.4% y-o-y. Non-oil re-export (NORX) growth meanwhile grew 18.5% y-o-y. Chua and Lee note that Singapore's exports of semiconductors, specialised machinery and other electronic components have benefited from broadening artificial intelligence (AI) demand and exemptions from reciprocal tariffs. Around 61% of Singapore's exports to the US, by their estimates, are currently exempted from reciprocal tariffs, including semiconductors, electronics, pharmaceuticals and energy. Electronics NODX accelerated, growing 8% y-o-y on the back of double-digit expansions in integrated circuits (IC), personal computers (PC) and bare printed circuit boards (PCB). By market, demand climbed the most in Japan at 76.6%, Hong Kong at 45.9%, Indonesia at 29.8% and South Korea at 27.2%. Meanwhile, electronics NORX grew by 26.2% y-o-y in June, owing to PCs, ICs and telecommunications equipment. Aggregate NORX rose by 18.5% y-o-y, after a 16.2% increase in the preceding month, led by Taiwan at 96%, the US at 64.3% and Hong Kong at 26.7%. Growth in non-electronics exports climbed to 14.5% y-o-y, driven by non-monetary gold which leapt 211.9% y-o-y, specialised machinery at 31.4% y-o-y and lastly, other specialty chemicals at 20.1%. On the other hand, the export of pharmaceuticals and petrochemicals contracted 13.7% y-o-y and 10.2% y-o-y respectively in June, with the latter declining for the fourth consecutive month. NODX declines in Europe (EU), Thailand, Malaysia, US, Indonesia and Japan were offset by growth across Hong Kong at 54.4%, Taiwan at 28.3%, South Korea at 33% and China at 8.5%. 'Some exports may have been diverted from the EU during the 90-day reprieve, as manufacturing supply cannot be ramped up quickly to meet import demand,' write Chua and Lee. Exports to Europe, note Chua and Lee, will 'likely recover and catch up' following the oncoming US reciprocal tariffs effective August. They add: 'This will help offset and cushion any export slowdown to the US in the second half.' In June, NODX to Hong Kong at 54.4% and Taiwan at 28.3% were led by specialised machinery and semiconductor chips, while exports to South Korea were driven by specialised machinery at 77.9%, measuring instruments at 202.7% and PCs at 195.3%. Chua and Lee note that non-monetary gold was a prominent driver of exports to China and Hong Kong, with gold exports to China surged 2222% y-o-y in June. Excluding gold, NODX to China fell 3.3% y-o-y, for the ninth consecutive month, while gold exports to Hong Kong jumped 71.1% y-o-y. Overall, Maybank's Chua and Lee expect the Ministry of Trade and Industry (MTI) to upgrade its GDP forecast range for 2025 to 2% to 3%, once final numbers on the 2Q2025 GDP are released in August. They also expect Enterprise Singapore to upgrade its full year export forecast from the current conservative 1% to 3% range, as first half NODX growth came in higher than expected at 5.2%. Exports and manufacturing growth will likely slow after higher reciprocal tariffs for the region kick in on Aug 1, note Chua and Lee. According to them, positives that will mitigate the payback and severity of the second half export slowdown are relatively lower US tariffs, broadening global AI demand and US-China de-escalation with a probable extension of the US-China tariff truce beyond Aug 12. 'Singapore faces the lowest US reciprocal tariff in Asia, at about 5.1% in effective terms by our estimates, below the 10% baseline tariff rate due to the current exemptions,' write Chua and Lee. In the US, wholesale inventories have been rising modestly over the last few months as companies stock up, but US retail inventories have not shown any visible increase. On this, Chua and Lee write: 'We think that the US inventory overhang post-reciprocal tariffs may only last several months before companies have to replenish their stock and order more imports.' While they see export growth to 'likely moderate' in the second half, given the stronger-than-expected growth in the first half, Chua and Lee expect the Monetary Authority of Singapore (MAS) to maintain its current modest appreciation bias for the upcoming meetings. 'We lower our three-month Singapore Overnight Rate Average (SORA) forecast to 1.5% by end-2025 and 1.2% by end-2026, as safe haven flows continue to dampen domestic interest rates,' write Chua and Lee. Should the US Federal Reserve (US Fed) cut rates in the second half, this could also drive short-term interest rates lower, the pair add. Looking ahead, UOB's Koh sees that 'payback' from earlier frontloading is likely to dampen growth in the second half, compounded by potential drag from US reciprocal tariffs. 'However, in our view, the eventual growth 'payback' may be more pronounced in trade-related services rather than in manufacturing, as frontloading seems to be more pronounced in electronics exports and less so in non-electronics exports and manufacturing,' writes Koh. Any further growth drag in these sectors, he adds, is likely to stem from weaker demand due to the tariffs themselves. RHB's Gan and Raveenthar note that although June's NODX numbers offer a 'welcome reprieve' and underscore the resilience of Singapore's trade architecture—especially its regional diversification—it 'should not be viewed' as a structural re-rating of the external sector. The pair adds: 'The fundamental backdrop remains mixed, with a delicate balance between cyclical recovery and looming protectionist headwinds.' Meanwhile, on Singapore's GDP in the second quarter, Oxford Economics' Yue sees that readings from the quarter will be 'revised upwards' from advanced estimates released earlier this week. On NODX, Yue has a slightly more prolonged outlook with regards to the frontloading boost than her fellow economists, noting that the process is "straightforward". 'The extension of the tariff suspension deadline to Aug 1 could further support goods exports. That said, we anticipate any remaining resilience to diminish over the upcoming months, especially if higher tariffs are imposed in the 3Q2025,' writes Yue. She adds that Singapore could benefit from an established re-exporting sector and a lower reciprocal tariff, while a structural shift in AI-linked electronics demand should continue to be a tailwind. Yue surmises: 'Therefore, although export growth is expected to decelerate, a collapse in 2025 is unlikely.' Senior economist at DBS Bank, Chua Han Teng, agrees that NODX of 16.5% y-o-y in the 1H2025 is unsustainable, with the front-loading of shipments eventually being followed by a 'payback' through decelerating trade and manufacturing production to materialise in the second half. 'The city-state's external demand will likely face downward pressures, due to still-high global trade frictions and continued uncertainty surrounding US tariffs, such as the potential imposition of US sectoral tariffs on semiconductors and pharmaceutical goods,' writes Chua. See Also: Click here to stay updated with the Latest Business & Investment News in Singapore Economists raise 2025 GDP forecast following 2Q flash estimate but stay wary on 2H Singapore, London are costliest cities for luxury spending New grant for local firms to seek advice, subsidies as Trump's tariffs bite Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World Get in-depth insights from our expert contributors, and dive into financial and economic trends Follow the market issue situation with our daily updates Or want more Lifestyle and Passion stories? 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Yahoo
30 minutes ago
- Yahoo
Nvidia and Broadcom: Here's How These Top AI Stocks Are Doing 1 Year After Their Stock Splits
Key Points These leading AI players saw their shares skyrocket in the year prior to their stock splits, with levels reaching beyond $1,000. Nvidia and Broadcom both have reported soaring demand for their products. 10 stocks we like better than Nvidia › Stock splits were a big thing last year, with many major companies across industries launching such operations. Two of the most exciting were in the area of artificial intelligence (AI). Nvidia (NASDAQ: NVDA), the world's No. 1 AI chip designer, and Broadcom (NASDAQ: AVGO), a networking giant, completed stock splits in June and July 2024, respectively. What is a stock split, and why do companies go this route? These operations enable a company to bring down a soaring stock price to more reasonable levels, making the stock more accessible to a broader range of investors. Nvidia and Broadcom even said they decided on splits to make it easier for employees and investors to get in on their shares, which had surged more than 200% and about 100%, respectively, in 2023. Stock splits don't change the total market value of the company or anything fundamental, though. They simply involve offering more shares to current holders according to the ratio of the split. So, for example, in a 10-for-1 stock split, if you originally held one share, you would hold 10 shares post-split -- but the total value of your holding would remain the same. Because of this, a stock split alone isn't a reason to buy or sell a stock. Still, it's interesting to see how stock split players have performed a year after these operations, so let's take a look at both Nvidia and Broadcom a year after their splits. Nvidia Nvidia completed its 10-for-1 stock split on June 7 of last year, with shares trading at the split-adjusted price as of June 10. This brought the shares down from about $1,200 to $120. Since that time, Nvidia stock has experienced ups and downs, but it's delivered a gain of more than 40%. As mentioned, this operation isn't the reason investors have flocked to Nvidia over the past year (though a lower price per share may have made it easier for some to get in on the growth story). What has driven Nvidia's share price performance is the ongoing high demand for its graphics processing units (GPUs), or AI chips, and related products and services. What also helped this AI leader was its strong execution of a big launch: Nvidia released its Blackwell architecture and chip this past winter to demand that CEO Jensen Huang called "insane." The company generated $11 billion in revenue from Blackwell in its very first quarter of commercialization and maintained a gross margin above 70%, ensuring high profitability on sales. Although investors worried about potential headwinds, such as import tariffs or a decrease in AI spending, these concerns have eased. Trade talks have spurred optimism that tariffs may not be as hefty as initially expected, and companies have reiterated their AI investment plans. All of this helped boost Nvidia's shares in recent weeks, even pushing the company to a $4 trillion market cap, making it the first company ever to reach this level. Broadcom Broadcom executed its stock split on July 12, and the stock began trading on July 15 at the new price. Like Nvidia, the company decided on a 10-for-1 split to bring its share price down -- in this case, from about $1,700 to $170. Broadcom stock has also climbed in the double digits since the operation, rising more than 65%. And like Nvidia, Broadcom saw its shares take off thanks to demand from AI customers. This company is a networking leader, making thousands of products used in a variety of locations -- from your smartphone to major data centers. But in recent times, demand from big cloud service providers to support their AI development has helped revenue skyrocket. In the most recent quarter, AI revenue surged 77% to $4.1 billion, and the company says it expects this momentum to continue in the current quarter and through the next fiscal year. This is amid demand for both connectivity products and Broadcom's accelerated processing units (XPUs), a type of processor for specific AI tasks. The company says its networking expertise and wide range of products -- from switches and routers to network interface cards (NICs), which connect computers to networks -- have been key growth drivers as cloud service providers ramp up their AI platforms. Broadcom stock followed a similar path to Nvidia, declining in April of this year due to general tariff concerns, but it has also rebounded and is on the rise today. The stock even closed at a record high just a few days ago. Could the post-split success continue? Both Nvidia and Broadcom have completed successful post-split years, scoring double-digit gains. Nvidia is slightly less expensive from a valuation standpoint than it was a year ago, but Broadcom's valuation has advanced. Still, these AI players remain reasonably priced, considering their earnings track record and long-term prospects in this growth market. It's impossible, of course, to guarantee what these stocks will do next, but the current environment supports the idea of more gains ahead. Even more importantly, Nvidia and Broadcom are well positioned to win in the AI market over the long run. Should you buy stock in Nvidia right now? Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy. Nvidia and Broadcom: Here's How These Top AI Stocks Are Doing 1 Year After Their Stock Splits was originally published by The Motley Fool
Yahoo
33 minutes ago
- Yahoo
You Have $1,000 to Invest. Should You Buy GOOG or GOOGL?
Key Points Alphabet offers investors exposure to powerful tech megatrends like artificial intelligence (AI), cybersecurity, and autonomous transportation -- all under one roof. Alphabet trades under two ticker symbols, but they both represent the same underlying business. Unless voting rights are important to you, either ticker is a great way to invest in this "Magnificent Seven" stock. 10 stocks we like better than Alphabet › The "Magnificent Seven" is a popular tag for the most dominant, high-performing tech companies on the planet. Alphabet (NASDAQ: GOOGL), (NASDAQ: GOOG), Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla have delivered market-crushing returns over the past decade, in large part because their businesses are on the forefront of the most disruptive technology macrotrends in modern history. While all seven companies are juggernauts in their own right, one Magnificent Seven stock stands out due to its dominant core business, exposure to multiple megatrends, and attractive valuation relative to its cohorts. That stock is Alphabet. An unconventional company There's something else that makes Alphabet different. Unlike the other members of the Magnificent Seven, Alphabet trades under two tickers: GOOG and GOOGL. Why would Alphabet do that? A little history will provide some helpful context. Larry Page and Sergey Brin founded Google (Alphabet's predecessor) in 1998. When Google filed its IPO paperwork in 2004, Page declared in a letter to prospective shareholders: "Google is not a conventional company. We do not intend to become one." In that same letter, Page fretted that becoming a public company could undermine the independence and creative spirit that had been critical to Google's success. He also made it clear that the company would not "shy away from high-risk, high-reward projects" just to hit some arbitrary quarterly financial target. To ensure that Page, Brin, and the rest of the executive team would retain "control over the company's decisions and fate," Google implemented a dual-class stock structure. It's all about insider control Common stock represents partial ownership in a company, and it usually comes with the right to vote on issues such as executive compensation, board members, and mergers and acquisitions. When Google debuted as a publicly traded company in August 2004, it used the dual class structure to concentrate 99% of the voting power in the hands of its founders, executives, and board members. Here's how: Each share of Class A common stock (available to regular investors) came with one vote. Each share of Class B common stock (held by founders and insiders) came with 10 votes. At the time, Page acknowledged that this was an unconventional move for a tech company, although it wasn't uncommon for other types of businesses. Perhaps the most well-known example is Berkshire Hathaway. However, in the years since Google's 2004 IPO, a number of tech companies have adopted dual class structures to maintain insider control, including Meta Platforms, Palantir, and Roblox. . This is where it gets a little confusing In April 2014, Google added another layer of complexity to its share structure by way of a 2-for-1 stock split. On April 2, 2014, Google's shareholders received one share of newly issued Class C stock for every share of Class A stock that they already owned. Starting on April 3, 2014, two classes of Google stock were available to the public: Class A shares (GOOGL): One vote per share Class C shares (GOOG): No voting power The important thing to note is the Class C shares don't come with voting rights. That was the whole point of the 2014 stock split. By issuing nonvoting Class C shares, Google could fund acquisitions and offer stock-based compensation and incentives without diluting executives' voting power. To recap, this is the share structure that exists today: Class A shares (GOOGL): One vote per share Class B shares (held by insiders): 10 votes per share Class C shares (GOOG): No voting power Should you buy GOOG or GOOGL? Today, Google the search engine is just one piece of Alphabet, the umbrella company formed in 2015. What makes Alphabet such a compelling investment is that it's not just a search-engine provider. Owning Alphabet is a bit like owning an ETF with exposure to some of the biggest themes in tech -- from cloud computing and AI to autonomous vehicles, cybersecurity, and streaming. And as I alluded to earlier, Alphabet trades at a discount to its Magnificent Seven cohorts based on its forward price-to-earnings (P/E) ratio: But there's still one question left to answer: Is GOOG or GOOGL the better investment? Because GOOGL comes with voting rights, you'd think it would trade at a premium to its Class C sibling, GOOG. But interestingly enough, GOOG has outperformed GOOGL since April 3, 2014, ever-so-slightly: As of July 16, GOOG was priced at $183.77, just a hair above GOOGL at $182.97. So based on the recent price action, you could look at it this way: GOOGL gives you the same exposure to Alphabet's basket of businesses, but at a slightly lower price, with the added benefit of voting power. In reality, most regular investors can't purchase enough shares to have any meaningful impact on the company's strategic direction through their votes. And because both tickers represent the same underlying security, there likely will never be any wide variation in price between the two. So unless you care deeply about voting rights, either ticker is a great way to invest in this Magnificent Seven standout. Should you buy stock in Alphabet right now? Before you buy stock in Alphabet, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Alphabet wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Josh Cable has positions in Alphabet, Amazon, Berkshire Hathaway, Microsoft, Nvidia, and Palantir Technologies. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Berkshire Hathaway, Meta Platforms, Microsoft, Nvidia, Palantir Technologies, Roblox, and Tesla. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. You Have $1,000 to Invest. Should You Buy GOOG or GOOGL? was originally published by The Motley Fool 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
