Chinese tech stocks fell after reaching multi-year highs as AI-driven gains slowed. Traders locked in profits amid economic concerns, with Alibaba and Baidu retreating from their intraday peaks.
Chinese tech stocks reversed their gains on Thursday after hitting multi-year highs, as the momentum from AI-driven investments slowed. Traders capitalized on profits, while renewed concerns about China’s economic challenges weighed on sentiment.
Shares of major internet firms gave up some of their early gains. Alibaba ended the day 2.6% higher after briefly reaching a three-year high. This followed an announcement from Chairman Joe Tsai that the e-commerce giant would collaborate with Apple to integrate AI into iPhones sold in China.
Baidu finished 5.7% higher but had surged as much as 12% earlier in the session. The boost came after the company revealed plans to make its AI chatbot, Ernie Bot, freely available starting April 1.
Mainland Chinese markets also weakened, with the CSI300 Index and the Shanghai Composite Index both slipping by approximately 0.4%, pulling back from their highest levels of the year.
According to analysts at Morgan Stanley, technological advancements alone cannot address China's structural economic imbalances or cyclical deflationary pressures. They noted that during the current policy lull leading up to the National People’s Congress in March, concerns about economic slowdown could limit broad market gains.
Despite the day's losses, Hong Kong’s stock market remains the best performer among major regional markets this year, gaining 8.8%. This growth has been largely driven by a rally in the tech sector, sparked by DeepSeek's advancements and China’s market stabilization efforts last month.
OpenAI is seeing an increasing number of Chinese groups using its artificial intelligence technology for covert operations, which the ChatGPT maker described in a report released Thursday.
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Reddit has taken legal action against AI startup Anthropic, accusing the company of unlawfully scraping content from its platform to train the Claude AI chatbot, despite public promises to avoid such practices. The lawsuit, filed in San Francisco, marks a major escalation in the ongoing battle over
Nvidia plans to roll out a lower-cost AI chip tailored for China based on its new Blackwell architecture, aiming to preserve its foothold in a shrinking but still critical market amid intensifying U.S. export restrictions.
In a grey government building near Tiananmen Square, a small team within China’s Ministry of Commerce is quietly shaping the future of the global auto, aerospace, and tech industries—one export permit at a time. With rare earth magnets now under strict export control.
Armenia's unchecked mining pollution poses a severe environmental crisis, imperilling water resources and health across the South Caucasus, including Azerbaijan. Heavy metal contamination in shared rivers threatens ecosystems and human well-being, demanding urgent international action.
China approved 11.29 gigawatts (GW) of new coal-fired power capacity in the first quarter of 2025, surpassing the 10.34 GW approved in the entire first half of 2024, according to a new report released by Greenpeace on Thursday.
President Donald Trump announced a "very good" phone call with Chinese President Xi Jinping, centred on the recently finalised trade deal and rare earth product agreements. Both leaders expressed optimism, and high-level delegations are set to meet soon.
Chinese authorities have warned of increased flood risks across northern China during the summer months, predicting more frequent and intense storms between June and August.
As peace talks progress, voices from Yerevan, Tbilisi, and Baku reveal hopes, concerns, and expectations for a future shaped by trade, trust, and generational change in the South Caucasus.
A bridge collapse in the Vygonichsky district of Russia’s Bryansk region, near the Ukrainian border, caused a train derailment and a traffic accident early Sunday, killing at least seven people and leaving 30 injured, according to emergency services.
Ukraine’s Security Service (SBU) has confirmed it carried out a third targeted attack against the Crimean Bridge, also known as the Kerch Bridge, early Tuesday morning, marking a new escalation in the ongoing conflict with Russia.
A strong 6.3 magnitude earthquake shook Japan’s Hokkaido prefecture early Monday, causing no reported injuries or damage, and no tsunami warning was issued, officials confirmed.
Federal authorities have arrested 14 suspects in Los Angeles linked to an Armenian organized crime ring accused of stealing $30 million in COVID relief and Small Business loans intended to support American taxpayers.
The European Commission has unveiled a draft budget for 2026, building on the mid-term revision of the 2021–2027 long-term financial framework. The revised plan responds to recent global challenges—including energy crisis, and rising geopolitical tensions—and aligns spending with the EU priorities.
European shares inched higher Thursday, lifted by autos and miners, as investors awaited the European Central Bank's rate decision.
Nvidia’s new Blackwell chips are twice as fast as their predecessors in training massive AI models, cutting chip use and time dramatically, new benchmarks reveal.
The Government of Ghana has signed a $2 billion memorandum of understanding with key energy partners to extend oil production licenses for the Jubilee and TEN fields through 2040, aiming to boost output, increase gas supply, and drive infrastructure development.
The S&P 500 barely budged Wednesday as weak job and service sector data revealed the economic fallout from President Trump’s trade war tactics.
In a grey government building near Tiananmen Square, a small team within China’s Ministry of Commerce is quietly shaping the future of the global auto, aerospace, and tech industries—one export permit at a time. With rare earth magnets now under strict export control.
Armenia's unchecked mining pollution poses a severe environmental crisis, imperilling water resources and health across the South Caucasus, including Azerbaijan. Heavy metal contamination in shared rivers threatens ecosystems and human well-being, demanding urgent international action.
China approved 11.29 gigawatts (GW) of new coal-fired power capacity in the first quarter of 2025, surpassing the 10.34 GW approved in the entire first half of 2024, according to a new report released by Greenpeace on Thursday.
President Donald Trump announced a "very good" phone call with Chinese President Xi Jinping, centred on the recently finalised trade deal and rare earth product agreements. Both leaders expressed optimism, and high-level delegations are set to meet soon.
Chinese authorities have warned of increased flood risks across northern China during the summer months, predicting more frequent and intense storms between June and August.
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