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24/7 News

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8/25
02:10
Japan's high-frequency trading firm Dharmacapital Co. moved all its staff to Singapore earlier this month, according to people familiar with the matter. This move effectively leaves Tokyo with no such firms operating out of the city.
01:59
PDD Holdings' net profit attributable to shareholders for Q2 2026 decreased by 12% year-on-year to RMB 27.2 billion, with revenue growing by 8% year-on-year, approximately 2.5% below market expectations. Among these, transaction service revenue (primarily influenced by Temu) increased by 13.3% year-on-year, significantly lower than the market's anticipated 21%-22%. Wall Street investment banks such as Goldman Sachs, Jefferies, and Morgan Stanley, in their latest research reports on August 25, generally lowered PDD Holdings' short-term earnings forecasts and target prices (Goldman Sachs lowered to $134, Jefferies to $118), but unanimously maintained "Buy/Overweight" ratings. Analysts pointed out that new regulations, such as the EU's elimination of the de minimis threshold, have substantially impacted Temu's European business. Concurrently, PDD Holdings is heavily investing in supporting domestic merchants and building a global supply chain, sacrificing short-term profits to build long-term barriers. Despite short-term pressure, the extremely low valuation and strategic focus on core e-commerce are the underlying logic for maintaining bullish ratings.
01:58
The average new mortgage lending per borrower in South Korea during the April-June period fell by ₩21.1 million from an all-time high of ₩229.39 million set three months earlier. This decline, reported by the Bank of Korea on Tuesday, was attributed to government regulations aimed at cooling the overheated housing market.
01:57
According to Laevitas, traders are spending millions to position for further Bitcoin upside after its staggering rally to $80,000, though demand for downside protection remains firm.
01:55
The association supports restricting client identification requirements to direct issuer-customer transactions in the primary market, while also calling for clearer definitions within the rules.
01:54
NVIDIA announced on August 17 an agreement with SB Energy to build the PORTS-Pike hashrate park in Ohio, with OpenAI holding a 20-year lease for the park, and NVIDIA will be the sole hashrate provider and invest $1.5 billion in SB Energy. The park will provide credit support for 4.25GW of IT capacity, and NVIDIA also holds an option for the remaining 3.75GW (totaling 8GW).
01:54
NVIDIA management disclosed that OpenAI's existing and planned commitments have reached approximately 12GW, scalable to 16GW of NVIDIA hashrate, corresponding to cumulative revenue of about $600 billion by 2030. This is the largest single customer commitment NVIDIA has disclosed to date. The accounting treatment of this agreement and the method of disclosing potential contingent liabilities will be one of the risk variables most closely watched by the market during the upcoming earnings call.
01:42
Google is accelerating preparations to expand its Google Maps service in South Korea by hiring a Senior Partnerships Manager, stating that it will "officially launch a full-featured Google Maps service." This Seoul-based Strategic Partnerships Development Manager will join Google's global product partnerships team, collaborating with private companies, public entities, and technology partners in South Korea.
01:37
President Lee Jae Myung is scheduled to hold separate meetings this week with Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Group Executive Chair Chung Euisun. This follows a private dinner on August 20 with SK Group Chairman Chey Tae-won, as his government aims to advance mega projects and turn pledges into concrete initiatives.
01:35
The United States has deployed two carrier strike groups to the Middle East, a move that represents a significant concentration of firepower but limits the availability of aircraft carriers in other regions. Vice Admiral John Miller, former commander of U.S. Naval Forces Central Command, stated that such a deployment comes at a cost.
01:31
The company aims to invest 15 trillion won ($10.8 billion) in research and development through 2035, with about 70% earmarked for future growth sectors, as it transforms into a materials powerhouse. It has also established a new organization directly under the CEO to drive this transformation.
01:27
Tuya Smart (02391.HK/TUYA) released its interim results for 2026 on August 25th. The report showed that total revenue for the first half of the year reached US$174 million, an increase of approximately 12.3% year-on-year; net profit was US$34.4 million, a year-on-year increase of 45.8%. Among these, PaaS (Platform-as-a-Service) business revenue was US$127 million, an increase of approximately 13.5% year-on-year, accounting for over 70% of total revenue. AI application and other revenue reached US$23.2 million, an increase of approximately 10.1% year-on-year. The company continues to strategically deploy AI Agent, AI hardware development tools, and scenario-based applications, and launched Tuya Cobuilder, an AI hardware development workspace, in the second quarter to accelerate the implementation of its AI business.
01:22
Tsingshan Holding Group Co. is considering tripling output at its Zimbabwe steel plant, which began operations in 2024. This expansion could intensify pressure on South Africa’s struggling steel industry, as a substantial portion of Tsingshan’s production is exported to that country.
01:15
The South Korean steelmaker signed a memorandum of understanding with construction management firm HanmiGlobal on Tuesday. The partnership aims to expand the application of fire-resistant and high-strength structural steel in data centers and other advanced industrial facilities, with both companies jointly reviewing its use from the design stage.
01:01
Analysts say that while record cross-border deals helped some loss-making Chinese biotech companies turn profitable in the first half of this year, multinational pharmaceutical companies are signaling plans to tighten their deal budgets. Deals with global partners have replaced initial public offerings (IPOs) and pre-IPO financing as the primary option for Chinese biotech companies to raise capital to advance new drug research and development, clinical development, and regulatory approvals.
00:55
Google's move aims to change the geographical landscape of global tech manufacturing, shifting the production focus away from China and accelerating the expansion of production in countries like Vietnam and India.
00:51
The project, valued at 6 billion euros ($7 billion), was agreed upon during Saudi Crown Prince Mohammed bin Salman's visit to Paris on Monday. It will involve the construction of three theme parks, including one manga-themed park, near Cergy-Pontoise. The initiative is led by Qiddiya, an investment arm of Saudi Arabia's sovereign wealth fund, and is expected to create approximately 22,000 jobs.

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