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Alibaba (09988.HK): Over the next five years, our goal is to bring the total external revenue of our cloud intelligence and artificial intelligence businesses to over US$100 billion.March 19th – The 71st meeting of the APEC Energy Working Group was successfully held in Nanchang, Jiangxi Province, from March 18th to 19th. The meeting focused on the theme of the 2026 APEC China Year, "Building an Asia-Pacific Community for Common Prosperity," and proposed the energy theme of "Building an Inclusive, Innovative, and Collaborative Asia-Pacific Energy Community." Representatives from various economies conducted in-depth discussions on the implementation of existing initiatives and the design of outcomes for the 2026 APEC China Year, focusing on three priority areas: "High-Quality Universal Energy Services," "Artificial Intelligence + Energy," and "Asia-Pacific Energy Collaborative Governance." They exchanged views frankly and laid the groundwork for reaching consensus on energy-related outcomes for the 2026 APEC China Year.On March 19, the Shenzhen Municipal Peoples Government and China Southern Power Grid Co., Ltd. signed a framework agreement in Shenzhen to comprehensively deepen their strategic cooperation during the 15th Five-Year Plan period. According to the agreement, both parties will adhere to the principles of "forward-looking planning, innovation-driven development, pioneering demonstration, mutual promotion, and common development," jointly promoting long-term strategic cooperation in areas such as energy transition, power grid construction, business environment, science and industry integration, international exchange and cooperation, and reform demonstration, and successfully completing major power supply tasks such as the APEC meeting.On March 19th, TrendForce reported that two major semiconductor foundries, TSMC and Samsung Electronics, have raised prices for their main advanced AI chip manufacturing processes, 5nm and 4nm. TSMCs 5nm/4nm, 3nm, and 2nm node capacities will continue to be fully utilized, and prices for these processes have been increased across the board. Samsungs 5nm/4nm order volume has also increased significantly, leading to a price increase notice to customers in Q4 2025.The European Parliament will vote on the US-EU trade agreement next week.

Hang Seng Index, ASX200, Nikkei 225: Bulls Deliver Friday Support

Jimmy Khan

Mar 03, 2023 14:49


Industry Snapshot

Asian stock markets had a positive start, with the Hang Seng Index, ASX 200, and Nikkei 225 all rising.

Despite a tightening labor market and a sharp rise in labor costs, US economic data failed to push risky assets into the red. Initial applications for unemployment decreased from 192k to 190k, and unit labor expenses increased by 3.2% in Q4 compared to Q3's 2.0%. The more aggressive Fed interest rate track to achieve goal inflation was backed by the most recent labor market data.


Bostic, a member of the FOMC, softened the impact by emphasizing the need for gradual increases in interest rates. Bostic wants to raise rates by 25 basis points later this month, allaying concerns about a 50-basis point increase.


The Dow Jones and S&P 500 both saw increases of 1.05% and 0.76% on Thursday, while the NASDAQ Composite Index increased by 0.73%. The US Futures, however, predicted a more tense Friday session. This morning, the NASDAQ mini fell by 34 points while the Dow mini lost 36 points.


Later today, the US ISM Non-Manufacturing PMI data and several FOMC members' remarks may revive Fed Fear. Support for risky assets would be put to the test by a further uptick in service sector activity and a steep rise in the ISM Non-Manufacturing Prices Index combined with aggressive Fed comments. Logan, Bowman, and Bostic, members of the FOMC, will speak today.