Chinese memory chipmaker CXMT surged 466% on its market debut after raising $8.6 billion in Asia’s largest IPO of the year, becoming China’s most valuable listed company.
Allianz will acquire HSBC’s Singapore life and health insurance business for $2.09 billion, strengthening its presence in Asia while allowing HSBC to focus on higher-return banking operations.
SpaceX shares have fallen to a new all-time low, wiping approximately $1.48 trillion from the company’s market value in just 37 days and dropping well below their $135 IPO price.
South Korea plans to channel tax revenue generated by the AI boom into a new Future Adaptation Fund supporting education, technology, regional development, and young people.
SpaceX shares fell below $140 for the first time since the company’s IPO, reaching a new post-listing low after giving up most of their early trading gains.