US forces struck Iranian targets near the Strait of Hormuz amid stalled diplomacy, keeping geopolitical risk elevated and underpinning energy markets.
Tech and industrial players pressed ahead with AI deals. French startup Mistral signed agreements with Airbus and BMW to develop “physical AI” applications for manufacturing, signaling faster integration of advanced models into industry workflows. China’s AI upstart MiniMax Group said annualized revenues have topped $300 million as it prepares to roll out a new model, underscoring robust domestic demand for generative‑AI services.
Financial flows into Asia accelerated alongside Hong Kong’s rise as the largest global hub for offshore wealth. Beijing is raising about $900 million in the city, and Russia has begun issuing yuan‑denominated bonds after President Vladimir Putin’s recent visit to Beijing. A stronger tech and export cycle has reduced Beijing’s sensitivity to yuan strength; several global banks now see scope for the currency to appreciate to as much as CNY 5 per dollar.
In a high‑profile talent move, Nvidia CEO Jensen Huang was named to the board of Tsinghua University in Beijing, reflecting deepening ties between US tech leaders and Chinese academic and industrial ecosystems.
Markets were mixed. European and Japanese equities slipped modestly, Hong Kong fell about 1% while mainland China traded flat. US futures pointed to a slightly negative open. Oil rose roughly 2% on renewed Middle East tensions, with Brent near $96 a barrel.
Leave a Reply