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Real-time News
On May 21, Hong Kong Chief Executive John Lee, in his address at the 9th World Finance Forum Annual Meeting and the Intercontinental Dialogue 2026 Annual Conference, stated that Hong Kong, under the "One Country, Two Systems" principle, is interconnected both domestically and internationally. Its common law system aligns with global financial centers, providing a first-class platform for global investors to achieve their goals. Hong Kong is the worlds third-largest and Asias largest international financial center. According to the latest assessment by the International Monetary Fund, Hong Kong banks maintain adequate capital, sound liquidity, and good profitability, and the linked exchange rate system is credible. Lee emphasized that in the current complex and volatile international environment, we must take proactive measures. Hong Kong will continue to leverage its unique advantages of being backed by the motherland and connected to the world, building bridges for dialogue, expanding multilateral cooperation, and sharing the fruits of stability and growth with the world.Jefferies: Raises its price target for Nvidia (NVDA.O) from $275 to $300.On May 21st, Alibabas large-scale speech models Fun-Realtime-ASR and Fun-Realtime-AudioChat topped the charts on Artificial Analysis, a globally authoritative AI evaluation platform, surpassing top international models such as GPT-Realtime-2. They achieved first place in three metrics: "Accuracy (word error rate)," "Understanding (speech reasoning)," and "Conversation fluency." As a new human-computer interaction gateway, Alibabas large-scale speech model family has been deeply integrated into applications such as Qianwen App, Gaode Maps, and DingTalk, providing services such as real-time speech-to-text conversion, intelligent navigation interaction, and meeting minutes generation.May 21 – Despite a sharp rise in Australias unemployment rate in April, the job market remains relatively tight. Ernst & Young Chief Economist Cheryl Murphy stated that the 5.8% underemployment rate is well below pre-pandemic levels, while labor demand appears to remain high, with businesses continuing to report difficulties finding suitable workers. Murphy added that the Reserve Bank of Australia (RBA) recently warned of the risk of rapid price increases due to rising petrol prices. She indicated that the RBA may need to further tighten monetary policy.On May 21st, Goldman Sachs released a research report stating that Baidus (09888.HK) first-quarter results this year showed accelerated growth in cloud revenue, especially GPU-based cloud services. The bank expects Baidus AI-driven business to grow by over 30% year-on-year, primarily benefiting from the robust growth of its AI cloud infrastructure (over 50% year-on-year). The bank anticipates that by the end of 2026, the contribution of AI-driven business will surpass that of traditional/other businesses. Management revealed at an analyst conference that Baidu aims to outpace the market and major peers in cloud business growth in the coming quarters. The company observed that token usage is shifting from training to inference, which will help Baidu Cloud expand its customer reach. The report quoted management as saying that the Wenxin Yiyan model is currently lagging behind, and future R&D will focus on revitalizing model capabilities, prioritizing the development of Wenxin Yiyan to drive MaaS (Model as a Service) revenue. Goldman Sachs expects a mid-term gross margin target of 35% to 40% for the GPU cloud business, while the gross margin for traditional CPU and memory services will be 25% to 30%. Management aims to reduce the holding company discount by having AI-driven businesses account for more than 50% of total revenue and by rapidly growing core cloud/chip revenue.