A blistering rally in Chinese technology shares accelerated on Wednesday as renewed bets on artificial intelligence sent a key gauge to the highest in nearly four years. The Hang Seng Tech Index, which tracks the largest tech firms listed in Hong Kong, closed at its highest level since November 2021. Search engine operator Baidu led gains with a 16% jump but Alibaba, SMI Corp, and JD.com all surged.
OpenAI and partners have pledged to spend as much as $500 billion on the US Stargate project.
Stocks saw muted moves across most asset classes, with traders taking bets off the table ahead of Wednesday’s Federal Reserve interest-rate decision.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Valerie Tytel.
Chapters:
00:00:00 – The Opening Trade
00:02:21 – Fed Rate Cut Expected Today
00:05:54 – TrumP UK Visit at Windsor Castle
00:07:51 – Tiktok Possible to Oracle
00:12:29 – GSK Massive US Investment
00:13:01 – Nestle Chairman Bulcke Steps Down
00:13:23 – Charlie Kirk Suspect Charged with Murder
00:15:20 – Fed Doves
00:15:59 – Dollar New Lows
00:25:31 – Central Bank Rate Decisions This Week
00:32:59 – Jack Selby on AI Bubble Bursting
00:35:29 – Baidu Stock
00:47:20 – Stocks to Watch: Nestle, Novo Nordisk, GSK
01:02:59 – Neste Chairman to Step Down
01:13:53 – UK Inflation Highest in a Year
01:16:35 – CEOs Expected at Trump UK State Dinner
01:25:10 – GSK Pledges $30B US Investment
01:28:10 – Novo Nordisk US Approval for High-Dose Wegovy
01:32:38 – Big Cut from Fed: Donald Trump
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