https://www.scmp.com/rss/521905/feed Bank of America: A leading multinational investment bank and financial services company, headquartered in Charlotte, North Carolina, with global operations across over 35 countries. It offers a comprehensive suite of services including commercial banking, wealth management, investment banking, and consumer banking products like credit cards and loans. Serving individuals, small businesses, large corporations, institutional clients, and governments, Bank of America is the second-largest banking... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Coco Feng Coco Feng For decades, the global image of Chinese trade was synonymous with massive container ships loaded with footwear, bags and furniture. However, a profound structural shift is under way. Having conquered the world of physical goods, China is now rapidly ascending the industrial chain as an emerging exporter of manufacturing technology. In 2025, the country’s exports of telecoms, computer and information services reached 808 billion yuan (US$118 billion), marking a robust 13 per cent year-on-year... https://www.scmp.com/tech/article/3352020/footwear-ai-services-china-moves-value-chain-exports?utm_source=rss_feed https://www.scmp.com/tech/article/3352020/footwear-ai-services-china-moves-value-chain-exports?utm_source=rss_feed Sun, 03 May 2026 12:30:12 +0000 Zhu Wenqian Zhu Wenqian As China’s bear housing market enters its fifth year, a growing number of global investment bank analysts and property agents are increasingly optimistic on the sector, underscoring a positive view on its outlook fuelled by upbeat data in April. Bank of America holds a positive stance on the sector and believes the “green shoots” of a recovery are visible, it said in a report issued in late April. After five consecutive years of weakness, the bank said “market recovery sustainability is becoming... https://www.scmp.com/business/article/3352045/green-shoots-appear-china-property-banks-turn-bullish-after-5-year-bear-market?utm_source=rss_feed https://www.scmp.com/business/article/3352045/green-shoots-appear-china-property-banks-turn-bullish-after-5-year-bear-market?utm_source=rss_feed Fri, 01 May 2026 03:00:09 +0000 Nicholas Spiro Nicholas Spiro In March 2024, the Bank of Japan raised interest rates for the first time since 2007, lifting borrowing costs out of negative territory and calling time on decades of ultra-loose monetary policy as Japan emerged from a long period of entrenched deflation. At the time, inflation had been above the central bank’s 2 per cent target for 22 months. Fast forward to today, and inflationary pressures continue to build. Although headline inflation fell to 1.3 per cent in February, this was because of the... https://www.scmp.com/opinion/asia-opinion/article/3351088/why-japans-central-bank-caught-between-rock-and-hard-place?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3351088/why-japans-central-bank-caught-between-rock-and-hard-place?utm_source=rss_feed Thu, 23 Apr 2026 08:30:08 +0000 Reuters Reuters France suspects a pro-Iranian group known as HAYI to be behind a foiled attack on Bank of America’s Paris offices, its anti-terrorism prosecutor said on Wednesday, while stressing the link has not yet been formally established. HAYI, which stands for Harakat Ashab al-Yamin al-Islamiyya, or ‌Movement of the Companions of the Right Hand of Islam, had posted a video on social media on March 23 targeting Jewish interests and communities in France and Europe, the prosecutor’s office said in a... https://www.scmp.com/news/world/europe/article/3348711/france-suspects-link-pro-iranian-group-foiled-paris-bomb-plot?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3348711/france-suspects-link-pro-iranian-group-foiled-paris-bomb-plot?utm_source=rss_feed Wed, 01 Apr 2026 14:30:19 +0000 Associated Press Associated Press French authorities are investigating a suspected link to Iran after thwarting a bomb attack outside a Bank of America building in Paris at the weekend, the interior minister said on Monday. The authorities suspect a link to Iran due to similarities to other recent attempted attacks in Europe which a pro-Iran group claimed responsibility for, French Interior Minister Laurent Nunez said. On Saturday morning, Paris police officers spotted two suspects carrying a shopping bag near the Bank of... https://www.scmp.com/news/world/europe/article/3348451/france-investigates-possible-iran-link-after-bomb-attack-foiled-outside-bank-america?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3348451/france-investigates-possible-iran-link-after-bomb-attack-foiled-outside-bank-america?utm_source=rss_feed Mon, 30 Mar 2026 16:31:44 +0000 Reuters Reuters French anti-terrorism prosecutors have opened an investigation into a suspected attack targeting Bank of America’s Paris headquarters after the reported overnight arrest of a man who allegedly tried to ignite an improvised explosive ‌device outside the US bank’s premises. In an emailed statement to reporters, the national anti-terrorism prosecutor’s office said the investigation involves the suspected attempted destruction by fire or other dangerous means in connection with a terrorist plot, as... https://www.scmp.com/news/world/europe/article/3348307/french-prosecutors-open-terror-probe-after-bank-america-attack-attempt?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3348307/french-prosecutors-open-terror-probe-after-bank-america-attack-attempt?utm_source=rss_feed Sun, 29 Mar 2026 11:45:58 +0000 Agence France-Presse Agence France-Presse French police stopped an apparent bomb attack outside a US bank in Paris early on Saturday when they arrested a man about to set off a homemade explosive device, officials and sources close to the case said. The incident occurred around 3.30am in front of a Bank of America building in the chic 8th arrondissement, a couple of streets from the Champs-Elysees. Police grabbed the man just after he placed a device, made of five litres of liquid (1.3 gallons), believed to be fuel, and an ignition... https://www.scmp.com/news/world/europe/article/3348268/french-anti-terror-prosecutors-probe-foiled-paris-bomb-plot?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3348268/french-anti-terror-prosecutors-probe-foiled-paris-bomb-plot?utm_source=rss_feed Sat, 28 Mar 2026 15:42:47 +0000 Agence France-Presse Agence France-Presse Bank of America has agreed to pay US$72.5 million to settle a class-action lawsuit alleging that the bank facilitated a sex-trafficking ring orchestrated by Jeffrey Epstein, court documents showed on Friday. Bank of America said separately that while it continued to deny supporting Epstein’s crimes, “this resolution allows us to put this matter behind us and provides further closure for the plaintiffs”. The suit, filed by an unidentified woman on behalf of herself and other alleged victims,... https://www.scmp.com/news/world/united-states-canada/article/3348228/bank-america-pay-us725-million-settle-epstein-sex-trafficking-lawsuit?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3348228/bank-america-pay-us725-million-settle-epstein-sex-trafficking-lawsuit?utm_source=rss_feed Sat, 28 Mar 2026 03:33:21 +0000 Zhang Shidong Zhang Shidong Expectations of monetary tightening by global central banks have intensified, triggering a fresh wave of sell-offs in risk assets as the US-Israel war with Iran enters its fourth week. Rates traders are now projecting no rate cuts by the Federal Reserve this year after chair Jerome Powell said last week that rising oil prices added uncertainty to the monetary outlook. That stands in contrast to the forecast of two reductions before the outbreak of the hostilities in the Middle East. The European... https://www.scmp.com/business/china-business/article/3347552/global-markets-brace-rate-hikes-iran-war-and-us100-oil-stoke-tightening-fears?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347552/global-markets-brace-rate-hikes-iran-war-and-us100-oil-stoke-tightening-fears?utm_source=rss_feed Mon, 23 Mar 2026 06:09:38 +0000 Yulu Ao Yulu Ao The US-Israel war with Iran is rapidly reshaping global investment strategies, with fund managers slashing risk exposure and hoarding cash at the fastest pace since the Covid-19 pandemic, as rising geopolitical tensions and inflation fears replace artificial intelligence trade as the market’s top concerns, according to Bank of America (BofA). Investor sentiment fell to a six-month low in March, while average cash allocations jumped to 4.3 per cent from 3.4 per cent a month earlier – the biggest... https://www.scmp.com/business/china-business/article/3347009/iran-conflict-drives-fund-managers-slash-risk-and-hoard-cash-bofa-survey-shows?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347009/iran-conflict-drives-fund-managers-slash-risk-and-hoard-cash-bofa-survey-shows?utm_source=rss_feed Wed, 18 Mar 2026 08:35:36 +0000 Nicholas Spiro Nicholas Spiro It is one of the oldest sayings on Wall Street, yet the adage “markets hate uncertainty” has never stood up to scrutiny. Like most maxims, it has a ring of truth but is a gross oversimplification. What is indisputable, however, is that for several decades investors took major economic, financial and political trends for granted. For a long period beginning in the 1980s, the world was relatively predictable. Many economists dubbed this era “the great moderation”. Others pointed to the impact of... https://www.scmp.com/opinion/world-opinion/article/3344685/trumps-normalisation-market-chaos-can-only-go-so-far?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3344685/trumps-normalisation-market-chaos-can-only-go-so-far?utm_source=rss_feed Thu, 26 Feb 2026 10:45:14 +0000 Cao Li Cao Li The risk of an artificial intelligence bubble has, for the first time, become the top concern among credit investors, overshadowing geopolitical worries, according to a Bank of America (BofA) survey. In a February survey of investment-grade clients who buy and sell debt, 23 per cent said the threat of an AI bubble was now their top concern, up from 9 per cent in December, according to BofA strategists Barnaby Martin and Ioannis Angelakis and analyst Mohit Agarwalla. “[An] AI bubble is now seen... https://www.scmp.com/business/markets/article/3344555/ai-bubble-overtakes-geopolitics-top-concern-credit-investors-bofa-survey-finds?utm_source=rss_feed https://www.scmp.com/business/markets/article/3344555/ai-bubble-overtakes-geopolitics-top-concern-credit-investors-bofa-survey-finds?utm_source=rss_feed Wed, 25 Feb 2026 05:51:38 +0000 Peggy Ye Peggy Ye Global investment banks are rallying behind a more bullish view of Hong Kong’s housing market, with JPMorgan Chase and Goldman Sachs joining Morgan Stanley in forecasting double-digit price gains after a stronger-than-expected rebound. Morgan Stanley was the first major bank to forecast a 10 per cent increase in home prices in January, which was widely seen as aggressive at the time. With fresh data bolstering signs of a recovery, other banks have also lifted their 2026 estimates. According to a... https://www.scmp.com/business/article/3344361/more-banks-catch-hong-kongs-housing-rebound-upgrade-market-forecast?utm_source=rss_feed https://www.scmp.com/business/article/3344361/more-banks-catch-hong-kongs-housing-rebound-upgrade-market-forecast?utm_source=rss_feed Mon, 23 Feb 2026 23:30:08 +0000 Nicholas Spiro Nicholas Spiro The US dollar’s decline is not over yet. Having fallen 10 per cent last year, the dollar index – a gauge of the US dollar’s performance against a basket of other major currencies – is down a further 0.6 per cent this year in the face of relatively high US interest rates, a resilient economy and the dominance of American technology companies. The findings of a Bank of America survey on February 13 showed that fund managers’ exposure to the US dollar had dropped below last April’s low, when US... https://www.scmp.com/opinion/china-opinion/article/3343966/us-dollar-weakness-no-game-changer-globalised-yuan?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3343966/us-dollar-weakness-no-game-changer-globalised-yuan?utm_source=rss_feed Thu, 19 Feb 2026 08:30:08 +0000 Cao Li,Aileen Chuang Cao Li,Aileen Chuang Leading agricultural technology firm Syngenta Group is considering a Hong Kong listing that could raise as much as US$10 billion, in what would rank among the city’s largest initial public offerings (IPOs) in recent years. The Swiss-founded company, acquired by Chinese state-owned Sinochem in 2017, is in talks with investment banks to arrange the share sale, sources told the South China Morning Post. CICC and UBS are among the banks that are advising on the listing. Both banks declined to... https://www.scmp.com/business/article/3342627/syngenta-eyes-return-markets-potential-us10-billion-hong-kong-debut?utm_source=rss_feed https://www.scmp.com/business/article/3342627/syngenta-eyes-return-markets-potential-us10-billion-hong-kong-debut?utm_source=rss_feed Fri, 06 Feb 2026 06:50:43 +0000 Nicholas Spiro Nicholas Spiro Canadian Prime Minister Mark Carney does not mince his words. Writing for The Economist last November, Carney argued the post-Cold War had collapsed and said the world was “entering an era of ‘variable geometry’” involving “pragmatic coalitions, built around shared interests, and occasionally shared values, rather than shared institutions”. The essay, it turns out, was the prelude to a hard-hitting speech at the World Economic Forum in Davos, Switzerland, on January 20. Carney told attendees... https://www.scmp.com/opinion/world-opinion/article/3341634/what-ruptured-globalisation-means-international-finance?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3341634/what-ruptured-globalisation-means-international-finance?utm_source=rss_feed Thu, 29 Jan 2026 08:30:10 +0000 Ishani Sarkar Ishani Sarkar Paris Haute Couture Week opened on January 26, with fashion’s biggest houses unveiling their spring/summer 2026 collections. All eyes were on Matthieu Blazy’s Chanel haute couture debut – and the French-Belgian designer delivered. The show, held at the Grand Palais, was attended by an A-lister crowd, including Nicole Kidman, Dua Lipa and A$AP Rocky, who were treated to a mesmerising runway of fluid silhouettes, romantic hues and meticulous craftsmanship inspired by avian freedom. “I was... https://www.scmp.com/magazines/style/people/celebrities/article/3341643/meet-christina-chung-hong-kong-model-nearing-60-who-made-waves-chanel-show?utm_source=rss_feed https://www.scmp.com/magazines/style/people/celebrities/article/3341643/meet-christina-chung-hong-kong-model-nearing-60-who-made-waves-chanel-show?utm_source=rss_feed Thu, 29 Jan 2026 06:05:58 +0000 Xiaofei Xu Xiaofei Xu The financial head of Dutch chipmaking equipment giant ASML – following a year of double-digit sales growth for the company’s machines – said he expects the firm’s already declining sales to China to fall even further, as trade restrictions prevent shipments of the firm’s most advanced units to Chinese clients and demand for other models is likely to taper off after an earlier rush. China’s share of ASML’s global sales dropped by 8 percentage points in 2025, falling to 33 per cent from the 41... https://www.scmp.com/tech/tech-trends/article/3341632/asml-reports-heated-global-demand-2025-cools-china-outlook-amid-us-sanctions?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3341632/asml-reports-heated-global-demand-2025-cools-china-outlook-amid-us-sanctions?utm_source=rss_feed Thu, 29 Jan 2026 04:34:10 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong homebuyers continued to show strong demand for new residential launches over the weekend, potentially pushing primary market transactions to a five-month high, according to agents. By 3.30pm on Saturday, about two-thirds of the 108 units released at Park Seasons – a Lohas Park project in Tseung Kwan O developed by Wheelock Properties and the city’s subway operator MTR Corp – had found buyers, agents said. On Friday, all 60 units on offer at K. Wah International’s Kabitat Tin Hau... https://www.scmp.com/business/article/3341104/hong-kong-homebuyers-keep-robust-demand-new-launches-draw-brisk-sales?utm_source=rss_feed https://www.scmp.com/business/article/3341104/hong-kong-homebuyers-keep-robust-demand-new-launches-draw-brisk-sales?utm_source=rss_feed Sat, 24 Jan 2026 09:01:03 +0000 Sylvia Ma Sylvia Ma China’s central bank has strengthened the yuan’s daily fixing rate to break through the psychologically important level of 7 per US dollar for the first time since May 2023, as the American currency weakens amid concerns over recent US attempts to gain control of Greenland. The People’s Bank of China set the yuan’s midpoint rate – also known as the daily fixing rate – at 6.9929 to the US dollar on Friday, after weeks of keeping the benchmark just on the weaker side of the 7 mark. The move came... https://www.scmp.com/economy/china-economy/article/3340929/china-sets-yuan-strongest-rate-years-greenland-furore-affects-us-dollar?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3340929/china-sets-yuan-strongest-rate-years-greenland-furore-affects-us-dollar?utm_source=rss_feed Fri, 23 Jan 2026 04:00:48 +0000 Ann Cao Ann Cao The shortages and associated price increase in the global memory chip sector could potentially intensify, as the US government threatened to impose hefty new tariffs on some major foreign manufacturers. Speaking at Friday’s groundbreaking ceremony for Micron Technology’s US$100 billion factory in New York, US Commerce Secretary Howard Lutnick warned that memory chipmakers – without naming any company – had two options: “They can pay 100 per cent tariff, or they can build in America.” Lutnick... https://www.scmp.com/tech/tech-trends/article/3340428/global-memory-chip-crunch-set-intensify-amid-trumps-new-industrial-policy?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3340428/global-memory-chip-crunch-set-intensify-amid-trumps-new-industrial-policy?utm_source=rss_feed Mon, 19 Jan 2026 11:00:10 +0000 Ralph Jennings Ralph Jennings The International Monetary Fund has raised its 2026 economic growth forecasts for both China and the United States by 0.3 percentage points, the latest sign that the pause in their trade war has eased pressure on both economies. In its latest World Economic Outlook, the IMF’s flagship publication released on Monday, the Washington-based fund also upgraded its global economic growth estimate by 0.2 percentage points over its October forecast to 3.3 per cent this year. China’s economy is now... https://www.scmp.com/economy/china-economy/article/3340419/imf-raises-chinas-2026-growth-forecast-45-citing-us-truce-and-stimulus-roll-out?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3340419/imf-raises-chinas-2026-growth-forecast-45-citing-us-truce-and-stimulus-roll-out?utm_source=rss_feed Mon, 19 Jan 2026 10:00:18 +0000 Peggy Ye Peggy Ye Major financial institutions, including Citi and Bank of America, are increasingly optimistic about Hong Kong’s residential property market this year, as lower mortgage rates and strong leasing demand change buying behaviour. Citi raised its home price forecast to 8 per cent this year, up from 3 per cent in October, citing a faster-than-expected rebound last year. “[There will be] further acceleration in 2027 under a multi-year upcycle,” said Griffin Chan, an analyst at Citi Research, on Friday.... https://www.scmp.com/business/article/3339616/hong-kong-property-citi-lifts-forecast-after-morgan-stanleys-upgrade?utm_source=rss_feed https://www.scmp.com/business/article/3339616/hong-kong-property-citi-lifts-forecast-after-morgan-stanleys-upgrade?utm_source=rss_feed Mon, 12 Jan 2026 10:47:59 +0000 Nicholas Spiro Nicholas Spiro For some time now, global economic cycles and financial market trends have been less US-centric and more multipolar in nature. This might seem counterintuitive given the long period of “American exceptionalism” stemming from the US dollar’s role as the world’s leading reserve currency, America’s deep and transparent capital markets, huge natural and human resources and the dominance of its technology companies in global equity indices. Deeper forces have been at play in the past several years,... https://www.scmp.com/opinion/world-opinion/article/3339120/chinese-stocks-could-be-biggest-winner-venezuela-fallout?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3339120/chinese-stocks-could-be-biggest-winner-venezuela-fallout?utm_source=rss_feed Thu, 08 Jan 2026 08:30:11 +0000 Zhang Shidong Zhang Shidong The US assault on Venezuela jolted the global commodity markets, sending gold higher and reinforcing the long-term bearish view on crude oil as investors navigate rising geopolitical tensions to start 2026. The weekend military raid on the South American country – home to the world’s largest oil reserves – added more weight to a call by Wall Street firms including JPMorgan Chase and Bank of America that gold prices would touch US$5,000 an ounce by the end of the year. Franklin Templeton and... https://www.scmp.com/business/china-business/article/3338771/gold-oil-jolted-us-assault-venezuela-investors-recalibrate-amid-commodity-boom?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3338771/gold-oil-jolted-us-assault-venezuela-investors-recalibrate-amid-commodity-boom?utm_source=rss_feed Mon, 05 Jan 2026 09:30:10 +0000 Nicholas Spiro Nicholas Spiro Judging by investor sentiment in the final quarter of last year, the spectacular rally in mainland Chinese and Hong Kong equities is over. The CSI 300 index of Shanghai- and Shenzhen-listed stocks declined 0.2 per cent while the MSCI China Index fell by over 7 per cent. The Hang Seng Index, meanwhile, lost 4.5 per cent. While most Wall Street banks remain bullish on Chinese stocks, some have turned more cautious. Morgan Stanley believes 2026 will be “a year of stabilization after 2025’s high... https://www.scmp.com/opinion/china-opinion/article/3338368/why-investors-should-remain-bullish-hong-kong-mainland-stocks-2026?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3338368/why-investors-should-remain-bullish-hong-kong-mainland-stocks-2026?utm_source=rss_feed Thu, 01 Jan 2026 08:37:37 +0000 Peggy Ye Peggy Ye Vobile Group, a US-based technology firm that helps Hollywood studios protect and monetise online video, has bought the top floor of Hong Kong’s Bank of America Tower, snapping up a rare Central office at a steep discount as cash-rich companies begin testing the city’s bruised commercial property market. The Emmy Award-winning company, which works with Disney, Warner Bros., Paramount and Lionsgate and listed in Hong Kong in 2018, bought the 37th floor of the grade A office building in Admiralty... https://www.scmp.com/business/companies/article/3338192/us-anti-piracy-firm-vobile-snaps-top-floor-bank-america-tower-steep-discount?utm_source=rss_feed https://www.scmp.com/business/companies/article/3338192/us-anti-piracy-firm-vobile-snaps-top-floor-bank-america-tower-steep-discount?utm_source=rss_feed Wed, 31 Dec 2025 00:30:09 +0000 Enoch Yiu Enoch Yiu Gold has hit multiple records in 2025, but analysts believe the rally is far from over, with some forecasting the yellow metal could climb to US$5,000 per ounce amid geopolitical tensions and a buying spree by central banks. Spot gold broke through the US$4,500-per-ounce mark for the first time, reaching a record US$4,510 on Christmas Eve on Wednesday, which was 72 per cent higher than the end of last year, when it stood at US$2,624. This was the biggest annual jump for the precious metal,... https://www.scmp.com/business/banking-finance/article/3337563/golden-era-prices-surge-rally-heads-towards-us5000-2026-analysts-forecast?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337563/golden-era-prices-surge-rally-heads-towards-us5000-2026-analysts-forecast?utm_source=rss_feed Thu, 25 Dec 2025 01:30:14 +0000 Nicholas Spiro Nicholas Spiro One of the biggest sources of concern in global stock markets in recent years has been concentration risk. Long before the launch of ChatGPT – the chatbot whose debut in November 2022 stoked a frenzy of excitement about generative artificial intelligence (AI) – the benchmark S&P 500 index was dominated by a clutch of giant technology companies. In 2019, the 10 biggest companies in the index – led by the “Magnificent Seven” stocks consisting of Nvidia, Apple, Alphabet, Microsoft, Amazon, Meta and... https://www.scmp.com/opinion/asia-opinion/article/3336850/fears-ai-bubble-asian-stock-markets-are-misplaced?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3336850/fears-ai-bubble-asian-stock-markets-are-misplaced?utm_source=rss_feed Thu, 18 Dec 2025 08:30:08 +0000 Sylvia Ma Sylvia Ma China’s currency appears poised to break through the psychological 7.0-per-dollar barrier next year, fuelled by US Federal Reserve rate cuts and thawing trade tensions, with some bulls betting that the yuan could strengthen to 6.8. Analysts and onlookers are increasingly optimistic, with some citing the potential for a relatively weaker US dollar and pointing to signs that Beijing’s policy support is stabilising the world’s second-largest economy. Guan Tao, a former senior official with China’s... https://www.scmp.com/economy/china-economy/article/3336453/chinas-currency-comeback-yuan-seen-strong-68-2026-breaking-key-dollar-level?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3336453/chinas-currency-comeback-yuan-seen-strong-68-2026-breaking-key-dollar-level?utm_source=rss_feed Mon, 15 Dec 2025 06:30:41 +0000 Yulu Ao Yulu Ao Global investors should shift their focus from Asia’s dominant AI hardware “titans” to a growing group of mid-cap “battleground” sectors that offer stronger growth potential amid intensifying competition, according to BofA Securities. In a report, analysts from the Bank of America investment banking arm mapped more than 330 Asian stocks across 22 subsectors in the artificial intelligence technology layer – representing market capitalisation of nearly US$6 trillion. The most compelling... https://www.scmp.com/business/china-business/article/3336110/ai-stock-opportunities-lie-battleground-sectors-not-titans-bofa-securities-says?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3336110/ai-stock-opportunities-lie-battleground-sectors-not-titans-bofa-securities-says?utm_source=rss_feed Thu, 11 Dec 2025 23:30:08 +0000 James David Spellman James David Spellman Gales of creative destruction will sweep away folly and naivety next year as they batter what appears to be the largest boom in modern history – the scramble to dominate artificial intelligence (AI) driven by US-China rivalry. The market debut of China’s Moore Threads last week, its shares more than quintupling on the first day, underscores the feverish momentum. Speculative assumptions guiding trillions of US dollars in AI investments are colliding with real-world obstacles. Escalating costs,... https://www.scmp.com/opinion/world-opinion/article/3335293/why-2026-will-be-year-ai-hype-collides-reality?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3335293/why-2026-will-be-year-ai-hype-collides-reality?utm_source=rss_feed Sun, 07 Dec 2025 12:30:09 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks edged up on Thursday as softer data on the US jobs market reinforced bets on an interest-rate cut next week. The Hang Seng Index rose 0.7 per cent to 25,935.90 at the close, after fluctuating between gains and losses in morning trading. The Hang Seng Tech Index rallied 1.5 per cent. On the mainland, the CSI 300 Index gained 0.3 per cent and the Shanghai Composite Index slipped 0.1 per cent. Gold producer Zijin Mining Group advanced 1.3 per cent to HK$33.20, mirroring recent... https://www.scmp.com/business/china-business/article/3335134/hong-kong-stocks-take-breather-investors-look-fresh-catalysts-after-rally?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3335134/hong-kong-stocks-take-breather-investors-look-fresh-catalysts-after-rally?utm_source=rss_feed Thu, 04 Dec 2025 02:20:30 +0000 Yulu Ao Yulu Ao The next boost for Chinese stocks will come from earnings growth after this year’s rally was driven by investors’ willingness to accept higher valuations, according to Bank of America (BofA) Global Research. “In 2025, we saw continued global market rally, and a lot of it was driven by multiples expansion, meaning the stocks are getting more expensive rather than earnings improvement,” said Winnie Wu, head of Asia-Pacific equity strategy and co-head of China equity research at BofA Global... https://www.scmp.com/business/china-business/article/3335040/chinas-stock-market-set-earnings-driven-growth-after-stretching-valuations?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3335040/chinas-stock-market-set-earnings-driven-growth-after-stretching-valuations?utm_source=rss_feed Wed, 03 Dec 2025 08:33:35 +0000 Sylvia Ma Sylvia Ma Several major banks forecast that gold prices will shake off a recent correction and hit an all-time high next year, with ongoing strong demand from central banks and anticipated US Federal Reserve rate cuts likely to buoy the market. Deutsche Bank has raised its 2026 average gold price forecast to US$4,450 per ounce from US$4,000 previously, setting a projected yearly trading range of US$3,950 to US$4,950, according to a research note released on Wednesday. “Stabilising investor flow and... https://www.scmp.com/economy/china-economy/article/3334493/gold-prices-could-hit-record-highs-over-us4900-next-year-forecasts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3334493/gold-prices-could-hit-record-highs-over-us4900-next-year-forecasts?utm_source=rss_feed Fri, 28 Nov 2025 07:17:54 +0000 Brian P. Klein Brian P. Klein Warning signs are flashing from experts, entrepreneurs and workers concerned that automation is coming for a wide range of information-oriented jobs. What ordinarily would be just another boom-bust cycle fuelled by computer-generated efficiency, a typewriter to keyboard type of evolution, is this time threatening to overturn the basic social contract between employers and employees. Unless and until this is taken seriously by policymakers, the modern middle class risks becoming a relic of... https://www.scmp.com/opinion/world-opinion/article/3333190/will-ai-kill-middle-class?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3333190/will-ai-kill-middle-class?utm_source=rss_feed Thu, 20 Nov 2025 01:30:10 +0000 Reuters Reuters Morgan Stanley’s underwriting of Zijin Gold International’s Hong Kong initial public offering (IPO) placed it and its US investors at risk of regulatory, financial and reputational harm, a US House of Representatives committee told the bank on Thursday. Zijin Gold is a subsidiary of Zijin Mining Group, a global mining company based in China that is on a US government list of companies whose imports are banned over alleged human rights abuses involving Uygurs. In September, Morgan Stanley... https://www.scmp.com/business/banking-finance/article/3332720/morgan-stanley-faces-us-scrutiny-over-zijin-golds-hong-kong-ipo?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3332720/morgan-stanley-faces-us-scrutiny-over-zijin-golds-hong-kong-ipo?utm_source=rss_feed Fri, 14 Nov 2025 01:36:33 +0000 Nicholas Spiro Nicholas Spiro Is this the year emerging market stocks finally turned the corner? At the start of 2025, the MSCI Emerging Markets Index, the main gauge of equities in developing economies, was near the same level it was at in September 2010. The benchmark S&P 500 index, by contrast, was up almost 500 per cent. For the past 15 years, emerging market shares have underperformed their developed market peers. This is one of the most striking disconnects between economic heft – developing countries’ share of global... https://www.scmp.com/opinion/world-opinion/article/3332584/emerging-market-rally-much-about-fleeing-us-finding-value?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3332584/emerging-market-rally-much-about-fleeing-us-finding-value?utm_source=rss_feed Thu, 13 Nov 2025 08:30:11 +0000 Nicholas Spiro Nicholas Spiro This week marks the first anniversary of Donald Trump’s victory in the US presidential election. Trump’s return to the White House was a stunning political comeback that cleared the way for him to carry out his “America first” agenda of higher trade tariffs, more confrontational relationships with traditional US allies and a clampdown on immigration. At the time, many investors were worried about the consequences of Trump’s nationalist policies. A week after the election, Bank of America... https://www.scmp.com/opinion/world-opinion/article/3331716/has-trump-20-really-been-boon-stock-markets-and-economy?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3331716/has-trump-20-really-been-boon-stock-markets-and-economy?utm_source=rss_feed Thu, 06 Nov 2025 08:30:08 +0000 Reuters Reuters Companies around the globe have ramped up job cuts, with blue-chip firms from Amazon.com to Nestlé and UPS reining in spending, while consumer sentiment dims and artificial intelligence-focused tech companies start to replace business roles with automation. According to a Reuters tally, American companies have announced more than 25,000 job cuts this month, not including UPS’ 48,000 figure, which dates from the beginning of 2025. In Europe, the total tops 20,000, with Nestlé accounting for the... https://www.scmp.com/business/companies/article/3330742/global-companies-ratchet-job-cuts-amid-weak-sentiment-ai-push?utm_source=rss_feed https://www.scmp.com/business/companies/article/3330742/global-companies-ratchet-job-cuts-amid-weak-sentiment-ai-push?utm_source=rss_feed Wed, 29 Oct 2025 06:51:28 +0000 Yulu Ao Yulu Ao Foreign investors and active funds increased their exposure to mainland Chinese equities in September, according to an HSBC report, marking a renewed interest in the world’s second-largest economy. Asia-focused and global emerging market (GEM) funds boosted their holdings of Chinese stocks last month, with positioning nearing a five-year high, the bank said in a report on Monday. It represented the third straight month of net increases in such exposure for GEM funds. “[Asia] funds notably... https://www.scmp.com/business/china-business/article/3330700/foreign-investors-show-renewed-interest-china-equities-hsbc-report-says?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3330700/foreign-investors-show-renewed-interest-china-equities-hsbc-report-says?utm_source=rss_feed Wed, 29 Oct 2025 03:00:14 +0000 Bloomberg Bloomberg American companies led by Alphabet’s Waymo have drawn much of the limelight with driverless cars deployed almost entirely on home soil. Now that some are beginning to look abroad, they’ll have to share roads with Chinese companies quietly making plenty of progress. Baidu’s Apollo Go, WeRide and Pony.ai are outnumbering their American counterparts with more robotaxi projects progressing from testing to various stages of commercialisation, according to a BloombergNEF analysis. While much of that... https://www.scmp.com/tech/tech-trends/article/3330415/chinese-robotaxis-race-waymo-take-driverless-cars-global?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3330415/chinese-robotaxis-race-waymo-take-driverless-cars-global?utm_source=rss_feed Mon, 27 Oct 2025 03:27:14 +0000 Agence France-Presse Agence France-Presse Thailand’s deputy finance minister resigned on Wednesday following allegations linking him to Cambodia-based cyber scam centres. Prime Minister Anutin Charnvirakul ordered Vorapak Tanyawong, a veteran financier who took office just last month, to submit a written explanation this week over the accusations. Vorapak came under scrutiny after a report this week tied him to an alleged foreign fraudster linked to cross-border scam operations in Cambodia. The “Whale Hunting” newsletter alleged that... https://www.scmp.com/news/asia/southeast-asia/article/3329961/thai-minister-resigns-over-cambodia-cyber-scam-links?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3329961/thai-minister-resigns-over-cambodia-cyber-scam-links?utm_source=rss_feed Wed, 22 Oct 2025 11:05:42 +0000 Associated Press Associated Press Wall Street had one of its most profitable quarters ever, based on the earnings of four of the biggest US banks, as the companies were helped by a flurry of deal-making, soaring stock prices and a global economy that remains resilient amid tariffs and geopolitical upheaval. Despite the strong earnings reported on Tuesday by JPMorgan Chase, Citigroup, Wells Fargo and Goldman Sachs, bank executives expressed various degrees of caution about the markets and the economy, including worries that asset... https://www.scmp.com/business/banking-finance/article/3329096/wall-street-sees-major-jump-profits-helped-soaring-stock-prices-and-deal-making?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3329096/wall-street-sees-major-jump-profits-helped-soaring-stock-prices-and-deal-making?utm_source=rss_feed Wed, 15 Oct 2025 07:52:46 +0000 Bloomberg Bloomberg Silver prices touched an all-time high above US$52.50 an ounce, as a historic short squeeze in London added momentum to a rally that has been fuelled by surging demand for haven assets. Spot prices rose as much as 0.4 per cent to US$52.5868 an ounce in London, surpassing a peak set in January 1980 on a now-defunct contract overseen by the Chicago Board of Trade – when the billionaire Hunt brothers attempted to corner the market. Gold also climbed to another record high, building on eight... https://www.scmp.com/business/commodities/article/3328888/silver-hits-record-high-surging-past-us52-amid-historic-london-short-squeeze?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3328888/silver-hits-record-high-surging-past-us52-amid-historic-london-short-squeeze?utm_source=rss_feed Tue, 14 Oct 2025 03:01:01 +0000 Reuters Reuters JingDong Industrials, a unit of Chinese online retailer JD.com, is seeking to raise US$500 million with a Hong Kong initial public offering (IPO) as soon as the end of October, two sources with direct knowledge said, after the firm cleared a key regulatory hurdle. The company, also known as JDi, refiled for a Hong Kong listing on Sunday after receiving the green light from China’s securities regulator last week, more than two years after it first notified the China Securities Regulatory... https://www.scmp.com/business/banking-finance/article/3327233/chinas-jingdong-industrials-eyes-us500-million-hong-kong-ipo-sources-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3327233/chinas-jingdong-industrials-eyes-us500-million-hong-kong-ipo-sources-say?utm_source=rss_feed Mon, 29 Sep 2025 08:54:07 +0000 Nicholas Spiro Nicholas Spiro Not long ago, the yen was seen as a refuge in times of turmoil. Japanese companies had a reputation for repatriating overseas earnings when sentiment in global markets deteriorated sharply. Japan itself was seen as politically and economically stable, encouraging investors to buy the yen as a hedge against volatility. Even today, Japan is one of the most attractive markets among the world’s leading economies. The results of Bank of America’s latest Asia Fund Manager Survey on September 16 showed... https://www.scmp.com/opinion/asia-opinion/article/3326767/4-reasons-japans-yen-safe-haven-trade-distant-memory?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3326767/4-reasons-japans-yen-safe-haven-trade-distant-memory?utm_source=rss_feed Thu, 25 Sep 2025 08:30:09 +0000 Zhang Shidong Zhang Shidong The gap between China’s slowing economy and its buoyant stock market shows little sign of narrowing as policy expectations, advances in technology, and easing geopolitical risks continue to brighten the outlook for the equity market, according to investors and analysts. For much of this year, the market has thrived on a “bad news is good news” narrative – fuelling a solid run that has boosted key benchmarks to levels not seen for a decade – with weak data interpreted as a trigger for more... https://www.scmp.com/business/china-business/article/3326543/china-stocks-bad-news-good-news-weak-economic-data-fuels-stimulus-bets?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3326543/china-stocks-bad-news-good-news-weak-economic-data-fuels-stimulus-bets?utm_source=rss_feed Tue, 23 Sep 2025 08:59:18 +0000 Bloomberg Bloomberg Bullish sentiment towards stocks is rampant in the US, as one Wall Street strategist after another raises their target for an S&P 500 Index that is repeatedly setting records. Yet as optimism about further gains has solidified into something resembling a consensus, even the most bullish are clear-eyed about a growing list of issues that could potentially stop the party. With valuations at among the richest levels of this century, the most commonly cited risks for a hard market landing include... https://www.scmp.com/business/banking-finance/article/3325465/stock-bulls-everywhere-beware-us-market-rally-narrative-loaded-risks?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3325465/stock-bulls-everywhere-beware-us-market-rally-narrative-loaded-risks?utm_source=rss_feed Sun, 14 Sep 2025 04:31:17 +0000 Julie Zhang Julie Zhang Investors are looking beyond US equities for the first time in a decade amid a weakening US dollar and likely easing of US monetary policy, moving capital into Asia as they chase the artificial intelligence boom in the region, according to the head of global research at Bank of America (BofA) Global Research. Ahead of the three-day BofA Securities Asia Pacific Conference starting on Monday, Candace Browning said that US equities had been exceptional from the first half of 2020 to the end of... https://www.scmp.com/business/banking-finance/article/3324511/global-investors-shift-us-equities-drawn-asias-ai-boom-looser-fed-policy-bofa?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3324511/global-investors-shift-us-equities-drawn-asias-ai-boom-looser-fed-policy-bofa?utm_source=rss_feed Sun, 07 Sep 2025 23:30:10 +0000