Shanghai Composite Index

Market Chatter: ByteDance Trains New Model Close to Anthropic's Mythos

ByteDance is developing an artificial intelligence model that could be close to Anthropic's most advanced large language model yet, according to a Financial Times report on Thursday, citing insiders.The Chinese parent of short video platform TikTok is training a model in the early stages, with a size of up to 10 trillion parameters. The model was pre-trained, which usually takes three to six months, before being fine-tuned and released, the report said.The model's size is three times bigger than Moonshot's Kimi K3, insiders told the media outlet.The new model could surpass Anthropic's Mythos 5, which is estimated to have about 8 trillion parameters. Meanwhile, Anthropic's Fable 5 is estimated to have about 5 trillion parameters, according to the media outlet.ByteDance did not respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

US Markets1d ago

China Trade Surplus Narrows to $112.5 Billion in July

China's trade surplus narrowed to $112.5 billion in July from $125.62 billion in June, according to data from the General Administration of Customs released Friday.The reading was higher than the consensus forecast of $108.6 billion tracked by Investing.com. On a year-over-year basis, China's trade surplus widened from $97.7 billion in July 2025.Exports rose 23.9% year over year to $397.9 billion, also beating the 22.2% consensus growth forecast, according to Investing.com.BofA Global Research expects higher prices to help prop up exports of integrated circuits and automatic data processing equipment. Auto exports are also seen to have helped contribute to the growth, the bank's research unit said in a note to clients.Meanwhile, imports increased 27.5% year over year to $285.4 billion, missing the Investing.com consensus forecast of 27.9%. BofA predicted a 38% rise in imports during the month. Still, the bank attributed the sustained increase to technology imports from South Korea.Total export and import value reached $683.2 billion during the month, up 25.3% from a year earlier.For the first seven months of 2026, China's trade surplus rose 1% to $687.5 billion. ING Think's Greater China Chief Economist Lynn Song said this marks the first time since February that year-to-date trade surplus is in positive year-over-year growth.

Hang SengShanghai Composite^SZSE

Commodities1d ago

Market Chatter: PBOC Adds More Gold Reserves in Hong Kong to Boost Trading Hub

The People's Bank of China is adding more gold reserves in Hong Kong over the past few months, Bloomberg reported Friday, citing people familiar with the matter.PBOC's move is seen to help the city become a bullion trading hub and also fuels a trend of returning its gold reserves to Hong Kong from London, according to the newswire, citing the sources.The world's central banks store a portion of their gold reserves in London to facilitate lending of the precious metal to commercial banks, Bloomberg said.The People's Bank of China, the State Administration of Foreign Exchange, and Hong Kong's Financial Services and the Treasury Bureau did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

International1d ago

US Plans to Impose 15% Tariff on Polysilicon Imports

U.S. President Donald Trump announced to impose a 15% tariff and minimum prices on polysilicon product imports, effective Dec. 4, according to a White House decree published Thursday.Polysilicon is used for the production of solar products and semiconductors.The government will also offer incentives for companies investing in the U.S. production of polysilicon products.Trump said the initiative was made to protect national interests and security as the U.S. "allowed foreign countries to weaken United States producers". No specific country was mentioned in the decree, but China is deemed as one of the biggest producers of solar products, such as wafers, cells and panels, as well as a major market in semiconductors.

Envision Rolls Out Phase 1 of Green-Powered AI Data Center in Inner Mongolia, China

Envision launched operations of the first phase of its artificial intelligence infrastructure data center in Inner Mongolia, China, according to a Thursday press release.The renewable energy-powered facility spans 120,000 square meters, making it the world's largest single AI data center building, the Chinese company said.The center is planned to scale to more than 2 gigawatts of capacity, the Chinese company said.Envision's data facility is the flagship of the company's Mission Gobi initiative, a plan to build 5 gigawatts of sustainable AI computing capacity in deserts and arid regions worldwide by 2030, the company said.

Market Chatter: DeepSeek Resumes Second Funding Round, Seeks to Raise Close to $8 Billion

DeepSeek seeks to raise close to $8 billion at the resumption of its second funding round, according to a Bloomberg News report on Thursday, citing insiders.Chinese investment manager Monolith Management is in talks to contribute to the fundraising, with the targeted funds based on a valuation of almost 500 billion yuan, the report said.The fundraising was previously suspended in July due to frustration over leaked remarks from the artificial intelligence firm's founder to investors. Discussions are currently being held for the resumed funding round and details are not yet finalized, the sources told the media outlet.DeepSeek and Monolith have yet to respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

International1d ago

China's Trade Surplus Narrows to $112.5 Billion in July

China Shares Mixed at Open as Investors Rotate Into Defensive Sectors

Chinese shares opened mixed on Friday as investors shifted to more defensive plays amid volatility in the technology sector.The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.1% lower to 3,896.49. The Shenzhen Component Index rose 0.3% to 14,152.78.The sectoral flow of funds points to a risk-off stance among institutional investors. Strength was concentrated in undervalued defensive sectors, with the higher uptake in coal stocks indicating large-capital rotation into safe-haven assets.Meanwhile, popular sectors saw substantial net selling by major funds as profit-taking accelerated.As the interim earnings season reaches its peak, market attention is turning toward fundamental strength. Industry leaders with solid earnings track records and defensible technological moats are poised to lead the valuation recovery, while stocks that trade purely on speculative concepts and price momentum are likely to face a corrective repricing, China Securities Journal reported.

Hang SengNikkei 225Shanghai Composite

International2d ago

Tech Caution, New Insurance Taxes Dent Asian Stock Markets

Asian stock markets tracked unevenly lower Thursday as traders again mulled tech-sector values and monitored Persian Gulf developments. Insurance stocks were pressured after China tax authorities confirmed plans to place levies on certain policies held in Hong Kong.Hong Kong and Tokyo finished in the red, although Shanghai bucked trends to gain ground. Seoul's KOSPI index lost 4.6% in a fresh semiconductor-sector slide.Brent crude oil futures held steady at under $80 barrel, during Asian market hours.In Japan, the Nikkei 225 opened lower on Wall Street cues and could not recover, finishing off 0.9%.The benchmark Nikkei 225 fell 617.18 to 65,683.26, although gaining issues outnumbered losers 168 to 45, as declines were somewhat confined to AI- and semiconductor-sector shares.Leading the upside was industrial-automation outfit Omron, up 15% after reporting earnings, while semiconductor components-maker Taiyo Yuden declined 11%.In Hong Kong, the Hang Seng Index opened lower and drifted south, closing down 1.5% on weakness in tech shares, and concerns regarding new mainland China taxes on certain insurance policies.The broad gauge Hang Seng fell 385.54 to 25,530.28, as losing issues outnumbered gainers 69 to 24. The Hang Seng TECH Index lost 2.3% on the day, while the Mainland Properties Index fell 0.6%.Leading the upside was Wharf Real Estate, gaining 13.7% after reporting earnings, while insurer AIA declined 5.9%.Chinese mainland tax authorities have begun enforcing a flat 20% personal income tax on gains or income obtained in offshore Hong Kong insurance policies, the South China Morning Post reported.On the mainland, the Shanghai Composite rose 0.6% to 3,900.35, as resource issues gained.On the other regional exchanges, the Taiwan TWSE declined 0.5%; the Australian ASX 200 inclined 0.5%; the Singapore Straits Times Index rose 1%, and the Thai Set inclined 0.3%. In late trading in Mumbai, the Sensex was up 0.5%.The MSCI All Country Asia Pacific Index fell 1.2% on the day.

Shanghai Composite^SZSEASX:RIO

Market Chatter: Chinese Iron Ore Buyer CMRG Reportedly Tells Steel Millers to Stall Talks with Rio Tinto for September Cargoes

China Mineral Resources Group instructed steel mills in China to delay negotiations with Australian mining giant Rio Tinto (ASX:RIO) for shipments starting in September, Reuters reported Thursday, citing unnamed sources.The latest move from the Chinese state-owned iron ore purchaser, which is believed to be negotiating the purchase of more than half of China's annual iron ore volumes, is reportedly a way to put pressure on some mills to give CMRG negotiation rights for procurement deals.Rio Tinto did not immediately respond to a request for comment from, while CMRG could not be reached.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Market Chatter: ByteDance's Founder Tells Staff to Stop Distilling From US Rivals

ByteDance's founder, Zhang Yiming, told staff during a meeting to not distill information from rival companies to improve its artificial intelligence models, Reuters reported Thursday, citing Chinese state-backed media The Paper.The report came after the U.S. accused Chinese AI firms of distilling from their American counterparts.Sources said in the report that Zhang said AI distillation will interfere with genuine technological breakthroughs that could run for the long term and the company should aim for that instead of short-term gains, according to Reuters.ByteDance did not respond to' request for comment on the matter.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSESHA:600403SHA:601101SHA:603468SHE:000506SHE:000975

China Shares Trade Mixed as Tech Losses Temper Commodity, Gold Gains; Fuji-Ta Bicycle Surges 115%

Chinese shares saw mixed trade on Thursday with gains in commodities and precious metals tempered by losses in the technology sector.The Shanghai Composite Index, the main gauge of Chinese stocks, closed 0.6% lower to 3,900.35. The Shenzhen Component Index fell 0.2% to 14,110.12.The coal sector led the gains in China's equities market, supported by the rise of the CCI index for thermal coal across the board, China Fund News reported. Beijing Haohua Energy Resource (SHA:601101) and Henan Dayou Energy (SHA: 600403) saw their stocks jump 10%.The precious metals sector also saw continuing gains, with major gold players Shanjin International Gold (SHE:000975) and Zhaojin International Gold (SHE:000506) rising more than 5%.Meanwhile, tech stocks were down amid a selloff stemming from reports that the U.S. is drafting regulations to ban imports of Chinese-made next-generation optical transceivers, and rising concerns about AI spending after SpaceX reported a surge in capital spending in its first quarterly results as a public company.In company news, Tianjin Fuji-Ta Bicycle Industrial (SHA:603468) shares closed at 37.49 yuan on their first day of trading on the Shanghai bourse. This marked a 115% jump from the bicycle maker's initial public offering price of 17.46 yuan.

Market Chatter: China Continues to Ease Export Curbs on Fuel

China eased controls on refined fuel exports in August, granting temporary reprieve for a second month since the Middle East war was put in a ceasefire, Reuters reported Thursday, citing industry insiders.Refiners on Tuesday were temporarily allowed to ship 2.7 million metric tons to destinations except for Hong Kong and Macau in August. They were also allowed to carry over some of this month's allowances to September due to the tight timeline for spot sales, the report said.China started easing the export curbs in July after the U.S. and Iran agreed to work on a peace deal, which can fully reopen the Strait of Hormuz, a critical waterway for global oil trade.The National Development & Reform Commission did not respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang SengNikkei 225Shanghai Composite

International3d ago

Tech Rallies, Oil Outlooks Lift Asian Stock Markets

Asian stock markets rallied on Wednesday on overnight Wall Street cues, as tech traders toggled "risk on" on hopes for a Persian Gulf settlement, and lower crude prices.Hong Kong, Shanghai and Tokyo finished in the green, as did most other regional exchanges.Front month Brent oil futures traded near $81 a barrel during Asian market hours, down from near $86 a barrel on Tuesday.In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 3.7% after US Treasury Secretary Scott Bessent said an arrangement to open the troubled Strait of Hormuz could be reached by the end of the week.The benchmark Nikkei 225 rose 2,342.91 to 66,300.44, as gaining issues outnumbered losers 151 to 71.Leading the upside was semiconductor-components maker Ibiden, up 25.5%, while Yokogawa Electric declined 10%, with both moves following earnings releases.In economic news, average cash earnings in Japan increased by 3.4% on-year in June, reported the Ministry of Health, Labor and Welfare.The Japan final composite purchasing managers index (PMI), a combination of the manufacturing and services sectors, logged at 52.7 in July, down from 52.8 in June, but for the 16th-straight month it still notched above the 50-mark that separates growth from contraction.In Hong Kong, the Hang Seng Index opened evenly, waffled, but closed up 0.2% on strength in tech issues.The broad gauge Hang Seng rose 62.90 to 25,915.82, as gaining issues outnumbered losers 47 to 44. The Hang Seng TECH Index gained 1% on the day, while the Mainland Properties Index was flat.Leading the upside was mining-concern CMOC, gaining 8.6%, while bank HSBC declined 2.6%.On the mainland, the Shanghai Composite rose 1.5% to 3,878.43.In economic news, China's composite PMI fell to 50.8 in July from 53.6 in June, marking the lowest reading since July of a year ago.On the other regional exchanges, the S. Korean KOSPI rose 3.8%; the Taiwan TWSE inclined 2.9%; the Australian ASX 200 inclined 0.9%; the Singapore Straits Times Index fell 0.6%, and the Thai Set declined 0.4%. In late trading in Mumbai, the Sensex was up 0.1%The MSCI All Country Asia Pacific Index rose 2.1% on the day.

Asia3d ago

Market Chatter: Chinese Venture Capitalist Monolith Raises $289 Million in Funding Round

Chinese venture capital fund Monolith Management raised $289 million in a fundraising round to back more tech startups, Bloomberg reported Wednesday, citing people familiar with the deal.Monolith surpassed its $265 million fundraising target, the report said.The fund's portfolio includes artificial intelligence startup MoonShot AI.Monolith was not immediately available for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)