Latest news with #Shanghai-based
Business Recorder
13 hours ago
- Business
- Business Recorder
Copper prices fluctuate as China GDP meets forecast, markets eye US data
SINGAPORE: Copper prices on the London Metal Exchange and the Shanghai Futures Exchange saw narrow fluctuations on Tuesday, as China's GDP growth aligned with forecast, while traders awaited U.S. inflation data and potential monetary policy shifts. Three-month copper on the LME was up 0.27% at $9,644.5 per metric ton, as of 0203 GMT, while the most-traded copper contract on the SHFE eased 0.33% to 78,030 yuan ($10,883.30) a ton. China's GDP grew 5.2% during April-June, slightly lower than the 5.4% in the first quarter, and the country's GDP growth for the first half of 2025 was at 5.3%, with fixed asset investment up 2.8% year-on-year, according to China's National Bureau of Statistics. 'Metals market will not be reacting much so long as the China's GDP growth for the first half is above 5%, and for the rest of 2025 and in the longer term, it is more about how Beijing will be dealing with the overcapacity in many industrial sectors and cut-throat competition,' a Shanghai-based metals analyst from a futures company said. China's GDP was projected to grow 5.1% year-on-year in April–June, slowing from 5.4% in the first quarter, according to a Reuters poll. Copper prices rangebound amid US trade talks, 50% metal tariff The dollar hovered near a three-week high against major peers, as traders awaited U.S. inflation data for clues on monetary policy and the potential departure of Federal Reserve Chair Jerome Powell amid continued criticism from U.S. President Donald Trump. LME aluminium inched 0.17% higher to $2,596.5 per ton, while nickel fell 0.13% to $15,045, and tin was trading flat at $33,515. SHFE nickel fell 1.1% to 119,440 yuan per ton, tin dropped 0.47% at 264,960 yuan a ton, zinc slipped 0.36% to 22,125 yuan, lead was down 0.18% at 17,030 yuan, and aluminium edged 0.07% lower to 20,420 yuan a ton.
Business Times
16 hours ago
- Business
- Business Times
China's quant funds boost US recruiting after Trump's visa curbs
[BEIJING] Chinese quantitative hedge funds are stepping up efforts to hire science and engineering students in the US affected by US President Donald Trump's university funding cuts and tighter visa policies. Shanghai-based Mingshi Investment Management launched a special program last month to offer full-time jobs to students unable to finish their PhDs due to the recent US policy changes. The initiative also provides internships to graduates from Chinese universities whose overseas study plans may be scuppered, the company said. Shanghai-based Mingshi Investment Management launched a special programme last month to offer full-time jobs to students unable to finish their PhDs due to the recent US policy changes. The initiative also provides internships to graduates from Chinese universities whose overseas study plans may be scuppered, the company said. Chinese quant funds are taking advantage of moves by the Trump administration to restrict foreign students' access to US universities. Secretary of State Marco Rubio said in May that some Chinese student visas would be 'aggressively' revoked and applicants from China and Hong Kong will face heightened scrutiny. Chinese quant firms, which have historically struggled to compete with more prestigious global giants with deep pockets, are seizing this opportunity to attract students in the US. 'The talent wars are intense among top-tier global quant funds, and now Chinese quant funds are also part of the game,' said Carrie Cheung, a Hong Kong-based partner at recruitment firm Principle Partners. 'With the recent visa constraint, it is a natural move to focus on US graduate students.' BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up At Mingshi, which oversees 15 billion yuan, some of the affected students were already in their target pool. That prompted the firm to launch a special summer recruitment session, adding headcount for roles including quant developers and researchers. The recruitment push has led to more applications from science, technology, engineering and math majors, including students in China and the US, the company said, without providing details. 'Considering their genuine challenges, this is a good opportunity to obtain the talent and it's our social responsibility to offer these students a special recruitment channel,' Mingshi wrote in a reply to Bloomberg News. Mingshi posted on LinkedIn recently that founder Yu Yuan hosted 30 'exceptional' students from Yale University at their Shanghai office for an 'engaging discussion' on quantitative investing and strategy design. Traditionally, more than 80 per cent of Mingshi's recruits have been returnees from international universities or companies. The head of human resources at the eastern China-based fund, who requested not to be identified discussing personnel matters, said the shifts are clear: More Chinese students in the US are returning, while fewer are choosing to go in the first place. These trends have accelerated this year. While the US remains the top choice for most quant talent, its lead over China is shrinking, according to some China funds. These firms are offering more competitive pay, and the industry's appeal is growing after AI startup DeepSeek stunned the world with its large language model this year. About 40 per cent of the eastern China fund's research team were overseas returnees, mostly from the US. Some of the researchers earn more than 10 million yuan a year, the head of human resources said. Shanghai QuantPi Investment has had 'mixed results' in the past, competing for staff against international peers. There's no doubt now that more Chinese students studying in the US will be interested in Chinese quants, according to chief executive officer Sun Lin. China's quant industry offers greater growth potential, and the living environment is more familiar for these students, with a stronger sense of cultural identity, he said. 'The more ambitious and self-confident candidates tend to opt for domestic firms such as QuantPi,' he added. QuantPi will not significantly adjust its recruitment strategy because it's always targeted people with US and UK study experience, he said. The company will allocate more resources to hiring, said Sun, former head of US market-making at Two Sigma Investments. 'A lot of top-tiered Chinese quant funds are expanding into global markets, not just trading China,' said Cheung at Principle Partners. 'They also intend to raise money overseas, hence a natural demand for talent with more global exposure.' Some of the Chinese quant firms have already set up offices elsewhere, including in Hong Kong, allowing them to post some of the new recruits outside mainland China. Goku, for example, received a license in Singapore this year to accept capital from offshore investors. One key advantage for China is that it has the world's largest pool of talent, Sun said. Chinese universities are forecast to churn out more than 77,000 Stem PhD graduates per year by 2025, compared with about 40,000 in the US, according to a research paper by Georgetown University in 2021. China would outnumber the US by more than three-to-one if international students were excluded from the US count, the report found. That expertise is helping drive the push to incorporate artificial intelligence (AI) into investment decisions. More than 95 per cent of Goku's trading signals are now AI-driven, significantly surpassing most global peers, which are typically up to 25 per cent, according to Ken Chung, CEO of Goku's Singapore unit. 'The best source of AI talent is in the US and China,' Chung said. 'If the US doesn't want that talent, we would welcome them with open arms.' BLOOMBERG
Mint
20 hours ago
- Business
- Mint
China's Quant Funds Boost US Recruiting After Trump's Visa Curbs
Chinese quantitative hedge funds are stepping up efforts to hire science and engineering students in the US affected by President Donald Trump's university funding cuts and tighter visa policies. Shanghai-based Mingshi Investment Management launched a special program last month to offer full-time jobs to students unable to finish their PhDs due to the recent US policy changes. The initiative also provides internships to graduates from Chinese universities whose overseas study plans may be scuppered, the company said. Shanghai Goku Technologies, an AI-driven quant, said it will welcome 'with open arms' any qualified students hurt by the policies. An eastern China-based quant fund managing more than 10 billion yuan has hired three AI researchers this year from overseas, including from the US. Chinese quant funds are taking advantage of moves by the Trump administration to restrict foreign students' access to US universities. Secretary of State Marco Rubio said in May that some Chinese student visas would be 'aggressively' revoked and applicants from China and Hong Kong will face heightened scrutiny. Chinese quant firms, which have historically struggled to compete with more prestigious global giants with deep pockets, are seizing this opportunity to attract students in the US. 'The talent wars are intense among top tier global quant funds, and now Chinese quant funds are also part of the game,' said Carrie Cheung, a Hong Kong-based partner at recruitment firm Principle Partners Pte. 'With the recent visa constraint, it is a natural move to focus on US graduate students.' At Mingshi, which oversees 15 billion yuan, some of the affected students were already in their target pool. That prompted the firm to launch a special summer recruitment session, adding headcount for roles including quant developers and researchers. The recruitment push has led to more applications from science, technology, engineering and math majors, including students in China and the US, the company said, without providing details. 'Considering their genuine challenges, this is a good opportunity to obtain the talent and it's our social responsibility to offer these students a special recruitment channel,' Mingshi wrote in a reply to Bloomberg News. Mingshi posted on LinkedIn recently that founder Yu Yuan hosted 30 'exceptional' students from Yale University at their Shanghai office for an 'engaging discussion' on quantitative investing and strategy design. Traditionally, more than 80% of Mingshi's recruits have been returnees from international universities or companies. The head of human resources at the eastern China-based fund, who requested not to be identified discussing personnel matters, said the shifts are clear: More Chinese students in the US are returning, while fewer are choosing to go in the first place. These trends have accelerated this year. While the US remains the top choice for most quant talent, its lead over China is shrinking, according to some China funds. These firms are offering more competitive pay, and the industry's appeal is growing after AI startup DeepSeek stunned the world with its large language model this year. About 40% of the eastern China fund's research team were overseas returnees, mostly from the US. Some of the researchers earn more than 10 million yuan a year, the head of human resources said. Shanghai QuantPi Investment Ltd. has had 'mixed results' in the past competing for staff against international peers. There's no doubt now that more Chinese students studying in the US will be interested in Chinese quants, according to Chief Executive Officer Sun Lin. China's quant industry offers greater growth potential, and the living environment is more familiar for these students, with a stronger sense of cultural identity, he said. 'The more ambitious and self-confident candidates tend to opt for domestic firms like QuantPi,' he added. QuantPi won't significantly adjust its recruitment strategy because it's always targeted people with US and UK study experience, he said. The company will allocate more resources to hiring, said Sun, former head of US market-making at Two Sigma Investments. 'A lot of top-tiered Chinese quant funds are expanding into global markets, not just trading China,' said Cheung at Principle Partners. 'They also intend to raise money overseas, hence a natural demand for talent with more global exposure.' Some of the Chinese quant firms have already set up offices elsewhere, including in Hong Kong, allowing them to post some of the new recruits outside mainland China. Goku, for example, received a license in Singapore this year to accept capital from offshore investors. One key advantage for China is that it has the world's largest pool of talent, Sun said. Chinese universities are forecast to churn out more than 77,000 STEM PhD graduates per year by 2025, compared with about 40,000 in the US, according to a research paper by Georgetown University in 2021. China would outnumber the US by more than three-to-one if international students were excluded from the US count, the report found. That expertise is helping drive the push to incorporate artificial intelligence into investment decisions. More than 95% of Goku's trading signals are now AI-driven, significantly surpassing most global peers, which are typically up to 25%, according to Ken Chung, CEO of Goku's Singapore unit. 'The best source of AI talent is in the US and China,' Chung said. 'If the US doesn't want that talent, we would welcome them with open arms.' This article was generated from an automated news agency feed without modifications to text.
Business Recorder
2 days ago
- Business
- Business Recorder
Copper prices rangebound amid US trade talks, 50% metal tariff
SINGAPORE: Copper prices on the London Metal Exchange and the Shanghai Futures Exchange were rangebound on Monday as investors assessed the impact of trade talks between the U.S. and its major partners and a 50% import tariff on the metal. Three-month copper on the LME inched up 0.07% to $9,667.5 per metric ton by 0104 GMT, while the most-traded copper contract on the SHFE fell 0.37% to 78,240 yuan ($10,915.03). U.S. President Donald Trump said on Saturday he would impose a 30% tariff on most imports from the EU and Mexico from August 1, adding to similar warnings for other countries and leaving them less than three weeks to hammer out framework deals that could lower the threatened tariff rate. This follows a 50% tariff imposed on copper imports, which will also be effective on August 1. 'It's uncertain where copper demand will go with all these tariffs. The U.S. has imported quite a lot of copper before the tariff announcement, so we're wondering whether China, as the largest consumer and producer, will stock up some too, as it is crucial to the military and economy,' a Shanghai-based metals analyst at a futures company said. US copper bounces after Trump sets a tariff date, but below peak Copper inventories in SHFE-monitered warehouses remained low, down 4% on-week at 81,462 tons as of July 11. Meanwhile, China will release trade data for June and for January-June on Monday, which will probably be positive news with the frontloading amid tariff uncertainties, a Beijing-based metals analyst at a futures company said. LME nickel shed 0.55% to $15,115 a ton, aluminium fell 0.54% to $2,589, and tin eased 0.29% to $33,550. SHFE aluminium fell 1.16% to 20,475 yuan a ton, zinc slipped 0.89% to 22,220 yuan, nickel dropped 0.78% to 120,240 yuan, lead eased 0.44% to 17,030 yuan, and tin was down 0.43% at 264,500 yuan.
New Straits Times
2 days ago
- Business
- New Straits Times
Copper prices rangebound amid US trade talks, 50pct metal tariff
SINGAPORE: Copper prices on the London Metal Exchange and the Shanghai Futures Exchange were rangebound on Monday as investors assessed the impact of trade talks between the US and its major partners and a 50 per cent import tariff on the metal. Three-month copper on the LME inched up 0.07 per cent to US9,667.5 per metric ton by 0104 GMT, while the most-traded copper contract on the SHFE fell 0.37 per cent to 78,240 yuan (US10,915.03). US President Donald Trump said on Saturday he would impose a 30 per cent tariff on most imports from the EU and Mexico from August 1, adding to similar warnings for other countries and leaving them less than three weeks to hammer out framework deals that could lower the threatened tariff rate. This follows a 50 per cent tariff imposed on copper imports, which will also be effective on August 1. "It's uncertain where copper demand will go with all these tariffs. The US has imported quite a lot of copper before the tariff announcement, so we're wondering whether China, as the largest consumer and producer, will stock up some too, as it is crucial to the military and economy," a Shanghai-based metals analyst at a futures company said. Copper inventories in SHFE-monitered warehouses remained low, down 4 per cent on-week at 81,462 tons as of July 11. Meanwhile, China will release trade data for June and for January-June on Monday, which will probably be positive news with the frontloading amid tariff uncertainties, a Beijing-based metals analyst at a futures company said. LME nickel shed 0.55 per cent to US15,115 a ton, aluminium fell 0.54 per cent to US2,589, and tin eased 0.29 per cent to US33,550. SHFE aluminium fell 1.16 per cent to 20,475 yuan a ton, zinc slipped 0.89 per cent to 22,220 yuan, nickel dropped 0.78 per cent to 120,240 yuan, lead eased 0.44 per cent to 17,030 yuan, and tin was down 0.43 per cent at 264,500 yuan.
