China Stocks Rise on AI Surge, While Hong Kong Slips on Profit-Taking China stocks rise, driven by gains in artificial intelligence (AI)-related firms, while Hong Kong equities dipped as investors locked in profits from recent tech stock rallies. AI and Tech Stocks Lead Market Gains China’s blue-chip CSI300 index rose 0.4% by midday, while the Shanghai Composite Index gained 0.5%. In contrast, Hong Kong’s Hang Seng Index dropped 0.3% as investors took profits from recent gains in the tech sector. AI-related stocks and Chinese tech firms were the strongest performers, with tech stocks rising 1.7% and AI shares up 1.6%…
Author: Kanika Sharma
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Trump Plans 25% Tariffs on Autos, Pharmaceuticals, and Semiconductors US President Donald Trump announced on Tuesday his intention to impose tariffs of around 25% on automobile imports, as well as similar duties on pharmaceuticals and semiconductor chips. These measures, part of his broader effort to reshape global trade, could significantly impact international markets. Auto Tariffs Set for April Trump stated that auto tariffs could take effect as early as April 2, following the submission of reports by his cabinet members outlining tariff options. He has long argued that US automakers face unfair treatment in foreign markets, particularly in the European…
Putin Appoints Former Space Chief as Special Representative Russian President Vladimir Putin has appointed Yuri Borisov, the former head of Roscosmos, as his special representative for international space cooperation. A presidential decree confirmed Borisov’s new role on Tuesday, replacing veteran cosmonaut Sergei Krikalev. Yuri Borisov: Tenure at Roscosmos Yuri Borisov led Russia’s space agency from July 2022 until earlier this month. His tenure was marked by setbacks, including the failed Luna-25 moon mission, which crashed while attempting to land. The incident was a significant blow, as it was Russia’s first moon mission in 47 years. No official reason was given…
Vietnam Clears Path for Starlink Amid US Trade Concerns Vietnam is set to introduce new regulations that would allow Elon Musk’s Starlink to operate in the country while maintaining full ownership of a local subsidiary, according to a draft resolution. This move signals a shift in policy and follows prolonged negotiations with SpaceX, a government official confirmed. A Strategic Shift in Policy Vietnam previously blocked SpaceX from entering its market due to a ban on foreign control of satellite internet providers. However, a new draft resolution—expected to be approved by parliament in an extraordinary session on Wednesday—introduces a pilot scheme…
Argentina’s President Javier Milei Faces Impeachment Threat Over Crypto Controversy Argentine President Javier Milei is facing calls for impeachment from opposition lawmakers after promoting a little-known cryptocurrency, $LIBRA, which crashed soon after his endorsement. Crypto Endorsement Sparks Political Backlash On Friday night, Javier Milei posted on X (formerly Twitter) recommending $LIBRA, causing the token’s value to surge to nearly $5 per coin. However, within hours, the cryptocurrency plummeted below $1, leading to speculation of a possible “rug pull”—a scam where developers inflate a token’s value before selling off their holdings. Argentina’s fintech chamber acknowledged concerns that the incident could fit…
Trump Cuts USAID Funding in Colombia, Freezing $70 Million for Environmental Projects Funding worth $70 million for environmental and conservation projects in Colombia has been frozen after US President Donald Trump moved to overhaul the US Agency for International Development (USAID). Colombia’s Environment Minister, Susana Muhamad, confirmed the freeze on Thursday, highlighting the significant impact on the country’s Amazon region. Major Impact on Amazon Conservation According to Minister Muhamad, the freeze will hit conservation efforts hardest in the Amazon, a region already struggling with severe deforestation. Colombia loses hundreds of square kilometres of forest every year, mostly in this vital…
Trump Pressured to Cancel Costly SLS Moon Rocket Program President Donald Trump pressured to cancel the costly Space Launch System (SLS) moon rocket program, say sources familiar with the discussions. The move could trigger a political showdown with Republican lawmakers whose districts benefit from thousands of SLS-related jobs. Push to End SLS Program Gains Momentum Advisers from the space industry, including six representatives close to Elon Musk, have urged Trump to phase out the $24 billion SLS program. They argue that the program is a financial burden for NASA, despite its central role in the US moon mission. The SLS…
Hong Kong Shares Rise as Alibaba Leads AI-Driven Rally Hong Kong shares rise, driven by a strong rally in Alibaba shares. The market gained momentum as investors focused on revaluation opportunities linked to artificial intelligence (AI). Meanwhile, mainland China stocks remained mostly flat. Hong Kong Market Boosted by Alibaba Gains The Hang Seng Index (.HSI) rose 1.4%, with tech stocks leading the rally. Alibaba’s Hong Kong-listed shares (9988.HK) soared 6.7%, reaching a four-month high. The rise came after The Information reported that Apple (AAPL.O) is collaborating with Alibaba to introduce AI features for iPhone users in China. On the other…
India Eyes Growth in Defence Manufacturing and Exports at Aero India 2025 India is determined to expand its domestic defence manufacturing and boost defence exports in the coming years, Defence Minister Rajnath Singh said on Monday. His remarks came at the opening of Aero India 2025, the country’s largest air show, where India’s growing military ambitions are in focus. The world’s biggest arms importer, India has made modernising its military and increasing domestic production a priority to counter China’s growing influence and military strength in South Asia. Record Growth in Defence Manufacturing and Exports India’s defence manufacturing value is set…
Taiwan’s Chipmakers Faces Fierce Competition from Chinese Rivals Taiwan’s Chipmakers once hoped its partnership with the Chinese city of Hefei would offer better access to China’s growing market. However, nine years later, the deal has created a formidable rival—Nexchip. Once a promising business venture, Nexchip has become one of Powerchip’s toughest competitors in the legacy chip sector. Chinese foundries, including Nexchip, Hua Hong, and SMIC, are expanding aggressively in the $56.3 billion legacy chip market, which focuses on older technologies like 28-nanometre chips and larger. This shift has triggered an investigation by the Biden administration and raised concerns in Taiwan’s…