2h ago
Jack Ma buys over HK$600 million of Alibaba shares as company ramps AI spending
Jack Ma has recently bought more than HK$600 million of Alibaba Group Holding Ltd. stock. Chairman Joe Tsai and Chief Executive Officer Eddie Wu also increased their holdings, together purchasing at least $25 million worth of shares. The buying followed Alibaba’s HK$80 billion share placement in Hong Kong and its pledge to spend more than 380 billion yuan over three years on AI, spanning chips, data centers and large language model development.
2h ago
2h ago
MCX gold and silver edge up as Brent slides 3% to near $86 and dollar index dips below 99
MCX gold October futures rose 0.16% to ₹1,63,146 per 10 grams, while MCX silver September futures gained 0.64% to ₹2,45,700 per kg. Brent crude futures slid 3% to trade near $86 per barrel, keeping the US dollar index below 99 on expectations the Strait of Hormuz could reopen after Iran said it had resumed talks with neighbouring Oman on managing the waterway. Investors are watching the US Personal Consumption Expenditures (PCE) price index for July, due at 1230 GMT, and a speech by Fed Chairman Kevin Warsh at the annual Jackson Hole symposium on Friday.
2h ago
2h ago
Australia’s inflation cools to 3.5% but core gauge holds at 3.6%, muddying RBA rate outlook
Australia’s September inflation data showed headline CPI eased from 3.8% to 3.5%, but the RBA-watched trimmed mean inflation held at 3.6%, above the 2%-3% target band. Housing and food prices were the main contributors. The Reserve Bank of Australia kept the cash rate unchanged at 4.35% this month, but Governor Michele Bullock said another hike later this year remains possible.
2h ago
3h ago
Nifty seen opening about 80 points higher as WTI drops over 6% to $80–81 a barrel
India’s Nifty is expected to open about 80 points higher as U.S. crude extends a two-day slide of more than 6% to the $80–81-per-barrel range. A pullback in U.S. Treasury yields has also helped improve global risk sentiment. Asian markets were mixed at the open, with Japan’s Nikkei 225 down about 0.3% and South Korea’s Kospi up about 0.4%. Nifty’s August-series rollover rate stood at 64%, above the three-month average, indicating institutions carried long positions into the new contracts.
3h ago
3h ago
Dollar trades in tight range as markets await U.S. PCE inflation data and Jackson Hole
The dollar traded in a narrow band in Asian markets as investors waited for U.S. PCE inflation data and the Jackson Hole symposium. Brent crude fell 2.1% to $86.68 after Iran said it had restarted talks with Oman on managing the Strait of Hormuz. The Australian dollar rose 0.1% after inflation data came in above expectations, while the New Zealand dollar slipped ahead of its central bank’s rate decision. The euro and sterling were little changed.
3h ago