Finance news

Stock market: SK Hynix wants to raise $28 billion from its secondary US listing

With a secondary listing in the USA, SK Hynix is ​​planning an issue volume of 28 billion dollars. The proceeds are intended to secure capacities for AI chips.

Takeover: Major Dutch bank ING joins the Spanish Singular Bank

By joining Singular Bank, the Dutch bank secures a 40 percent share in the Spanish private banking house - and pushes US investor Warburg Pincus out of the field.

How an Asian-majority city passed the US' first permanent data center ban

Global investors pivot from access to scale in yuan operations, anchored by Hong Kong

Global institutional investors are pivoting away from basic market entry to scaling up their yuan operations, with offshore hubs such as Hong Kong emerging as the central infrastructure for that shift, a new survey showed. The survey, conducted by HSBC and polling more than 120 institutional investors collectively managing over US$32 trillion in assets across 12 Asia-Pacific markets, found that 63 per cent preferred offshore yuan markets for currency transactions, while 54 per cent relied on...

Football World Cup: After pressure from Trump? FIFA lifts ban on US striker

FIFA has surprisingly lifted US player Florian Balogun's red card ban. He can now play in the round of 16. The decision was apparently made after a telephone conversation between the US President and Fifa boss Gianni Infantino.

Aviation: Fifth offer from US investor – Easyjet gives up resistance

After much hesitation, Easyjet accepts the revised takeover offer from US investor Castlelake – at a price of over six billion euros.

SK Hynix: Chip manufacturer wants to raise $28 billion from US secondary listing

The South Korean chipmaker is targeting the world's second-largest IPO after SpaceX, according to an official document. The company wants to use the income for expansion.

Frugal, childless Chinese couple who split US$2.5 meals leave US$735,000 to sick children

A late childless couple in China donated five million yuan (US$735,000) to help 455 children with congenital heart disease, despite living an extremely frugal life themselves. The couple’s story was revealed at a charity exhibition late last month in Shanghai, according to the news website The Paper. Du Yingrong passed away in 2018 at the age of 81, while his wife, Lu Suying, died last year at the age of 92. Before their deaths, Du was a retired teacher, and Lu was a retired doctor from the same

World Cup 2026: Did Trump influence Infantino? Astonishment at FIFA's U-turn on ban for US goalscorer

Did the US President call the FIFA boss to secure a place for the suspended Balogun in the round of 16? There is suspicion. Not only opponents Belgium are horrified.

Noted scientists leave US for China, America turns 250: 5 weekend reads you missed

We have put together stories from our coverage last weekend to help you stay informed about news across Asia and beyond. If you would like to see more of our reporting, please consider subscribing. 1. Noted neurobiologist and ex-taekwondo captain Chih-Ying Su leaves US for China Celebrated neurobiologist Chih-Ying Su, who specialises in research on the sense of smell using fruit flies and mosquitoes, has left her position as faculty vice-chair at the University of California San Diego to join...

China’s Biren seeks US$900m to fund GPU push and challenge Nvidia amid AI boom

Chinese artificial intelligence chipmaking champion Shanghai Biren Technology is raising HK$7 billion (US$892.5 million) to boost production of its graphics processing units (GPUs), joining a fierce domestic battle to capture Nvidia’s market share in the country amid a global AI boom. The company, which went public in Hong Kong in January, announced that it would issue 153 million new shares at HK$46.2 each, representing a 9.9 per cent discount to the stock’s closing price of HK$51.3 last...

Russia strikes Kyiv with deadly barrage on eve of Nato summit

Russia struck Ukraine’s Kyiv region with ballistic missiles on Monday, killing at least eight people and wounding dozens, authorities said, on the eve of a Nato summit in Turkey. The assault was the second on the capital and its surroundings in less than a week and came as both sides increased long-range attacks, underlining the growing reach of the war more than four years after Russia launched its full-scale invasion. US President Donald Trump and Ukraine’s Volodymyr Zelensky are expected to..

Nikkei, Yen, Hang Seng: Chip values ​​boost Asia's stock markets - Nikkei is weakening

Hopes for strong US quarterly figures, falling oil prices and the ongoing AI boom created a buying mood - technology stocks in South Korea in particular rose sharply.

+++ Football World Cup 2026 +++: England triumphs in epic duel with Mexico – Henderson injured while celebrating

Belgium “astonished” by the lifting of the ban against US striker Balogun – Association checks options+++ Double pack Haaland: Norway shoots Brazil out – Neymar resigns+++ The news blog.

+++ Soccer World Cup 2026 +++: Top US striker is allowed to play – Trump apparently called Infantino because of the ban

After the World Cup exit: Brazil's Neymar resigns from the national team +++ Norway in the quarter-finals: Haaland throws Brazil out +++ Belgium “astonished” by Balogun's lifted ban +++ The news blog.

China restaurant sparks debate after selling simple tomato scrambled egg dish for US$75

A Shanghai restaurant has captured attention on mainland Chinese social media for launching a special dish of stir-fried tomato and scrambled eggs at an exorbitant price of 520 yuan (US$75), triggering a heated discussion. The dish itself is among the most common, affordable household food items in the country, containing ordinary ingredients – tomatoes and eggs. But the dish served at Jinlong Dabianlu Restaurant in Hongkou district in downtown Shanghai is sold at 520 yuan, dozens of times more.

South Korean won holds steady as historic 24-hour trading begins

The South Korean won was stable against the dollar after inching higher as the currency began its first day of 24-hour trading, marking a milestone in Seoul’s push to open its financial markets to global investors. The won eased 0.1 per cent to 1,531.40 against the US dollar, after rising as much as 0.2 per cent when it started trading at 6am. Other major currency pairs were little changed. The launch of 24-hour trading is the centrepiece of a years-long effort to improve foreign access to local

Can China’s budget brands crack developed markets? Mixue shows it won’t be easy

Three months after moving from China to Japan, Alisa Lin has yet to buy a single drink from Mixue – the Chinese ice cream and tea giant – despite being a frequent customer back home, where a cup costs under five yuan (73 US cents) during promotions. “It’s not a very popular brand here. Only one of my friends in Japan has ever bought it,” Lin said, adding that value for money was the main consideration behind her own consumer choices in Tokyo. While Mixue’s basic teas are cheap, a plain bubble...

Philippines’ record capital wage rise leaves workers hungry for more

In the Philippine capital, 85 pesos (US$1.40) is barely enough to buy a meal for one, let alone a family of five. Yet that modest sum, roughly the price of 1½kg of premium imported rice, is the largest single wage increase ever approved for Metro Manila’s minimum-wage earners. The government called it “historic”. Labour groups called it an insult. The increase, to be rolled out in two stages, was confirmed by the Department of Labour and Employment on Tuesday. Non-agricultural workers will see..

Some Lebanese Christian villages ‘asked to be annexed’ by Israel, Netanyahu says

Israeli Prime Minister Benjamin Netanyahu said on Sunday that some Christian villages in southern Lebanon had asked to be annexed by Israel so that they could be protected from Hezbollah militants. Lebanon was drawn into the wider war in the Middle East on March 2 when Hezbollah fired rockets at Israel in retaliation for the killing of Iran’s supreme leader in US-Israeli strikes. Israel responded with massive air strikes and a ground invasion of southern Lebanon, where its troops now occupy...

Wu Xinbo on why Trump’s ‘America first’ foreign policy may be driving China’s rise

Wu Xinbo is the dean of the Institute of International Studies at Fudan University in Shanghai and a leading Chinese researcher on the US. In this interview, he analyses how shifts in US foreign policy are changing the relationship between the two countries. This interview first appeared in SCMP Plus. For other interviews in the Open Questions series, click here. As the United States celebrates its 250th anniversary, how do you assess US foreign policy and the future direction of its relations..

Trump to meet Ukraine’s Zelensky and Syria’s Sharaa during Nato summit in Turkey

US President Donald Trump plans to meet Ukrainian President Volodymyr Zelensky and Syrian President Ahmad al-Sharaa on Wednesday while attending the Nato summit in Turkey, the White House said. Those discussions will come as Kyiv tries to refocus Trump’s attention on the conflict with Moscow and as Trump has publicly mused about Syria’s role in the Middle East. White House spokeswoman Anna Kelly confirmed the meetings in a call with reporters while previewing the summit in Ankara, where Trump...

White supremacists’ July 4 march counts as free speech, US interior secretary says

Federal officials had no reason to stop a white ⁠supremacist group’s July ⁠4 rally in Washington because ⁠of free speech protections, US Interior Secretary Doug Burgum said on Sunday. Hundreds of masked Patriot Front members who marched through the nation’s capital on Independence Day on Saturday did nothing illegal, Burgum told CNN’s State of the Union programme. Although the organisation’s ‌white supremacist, anti-immigrant ideology is “nothing that I could possibly agree with”, Burgum said,..

Egypt’s President el-Sisi inaugurates massive new military headquarters

Egypt has inaugurated a new armed forces headquarters, which observers say is the largest in the world, with an elaborate ceremony and a rare appearance from the president and former general Abdel-Fattah el-Sisi in military uniform. The Octagon, as the complex is being called, consists of eight buildings each with an eight-sided floor plan in an area of around 90 sq km (34.7 square miles), the size of the Portuguese capital Lisbon. It has replaced the Pentagon, the headquarters of the US Defence

Ahead of NATO summit: US official: takeover of Greenland currently “only solution”

Trump shocked his European allies with blatant claims of ownership of Greenland. However, he refrained from taking over by force. But the USA still likes the basic idea.

Aviation: Takeover offer from US investor – Easyjet agrees “in principle”.

Easyjet resisted the takeover for a long time, but now the price seems to be right. The low-cost airline is valued at over six billion euros.

Comment: Trump shamelessly misrepresents history

America looks back with pride on the founding of the nation 250 years ago. But that cannot hide the fact that the US President is putting their legacy at risk.

Is EWY a good long term play?

Been looking at EWY. My thesis is that Samsung is a good investment and so is SK Hynix, and the weight of the rest of the stocks in the ETF can help mitigate some risk from single stock investments or tech. I also think SK Hynix will go up quite a bit if it does actually list in the US. It is also hard to invest in those companies in the US right now besides EWY or other ETFs. But since it has been ran up so much I was wondering what others here thoughts are for EWY as a longer term play in a po

Hong Kong police seize HK$120m of cocaine hidden in 3-tonne metal containers

Police have seized about HK$120 million (US$15.4 million) worth of suspected cocaine hidden inside three heavy-metal containers at a warehouse in northern Hong Kong, arresting three men. Officers raided a 3,000 sq ft tin‑sheet warehouse on Kung Um Road in Yuen Long on Friday night and found three men using tools to cut open two of the containers, Senior Inspector Lam Pak‑kiu of the narcotics bureau said on Sunday. Each container measured about 1.6 metres long, one metre wide and 0.35 metres...

US Pacific islands prepare for Super Typhoon Bavi

People in Guam and the Northern Marianas moved to emergency evacuation centres and made last-minute preparations on Sunday, hours before a “super typhoon” was projected to bulldoze through the US Pacific territories. Super Typhoon Bavi was forecast to roar westwards over the area at around 10.00am (0000 GMT) on Monday with winds of 260 kilometres (160 miles) per hour – equivalent to a category 5 hurricane – and gusts of up to 315kph. The National Weather Service (NWS) called the typhoon “very...