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2025-07-04
01:07
DJIA Closes Up 344 Pts, S&P 500/ Nasdaq Hit New Highs; Nvidia Gains 1%, Logging New High

The US non-farm payrolls increased by 147,000 in June, beating expectations, and shifting market sentiment towards optimism. US stocks closed early at 1 pm on Thursday ahead of the Independence Day holiday on Friday (4 July).

The three major US stock indices opened higher and continued to rise. The S&P 500 closed up 51 points or 0.8% at 6,279, while the Nasdaq added 207 points or 1% to close at 20,601, with both indices reaching new historical closing highs. The DJIA once shot up 400 points, and closed up 344 points or 0.8% at 44,828.

The US lifted export restrictions on chip design software to China, with Synopsys (SNPS.US) and Cadence (CDNS.US) advancing 5%.

Large techs generally ascended. Nvidia (NVDA.US) climbed 1.3% to US$159.34, setting an all-time high, while Meta (META.US) and Apple (AAPL.US) picked up less than 1%. Tesla (TSLA.US) ebbed by 0.1%.
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2025-07-03
18:09
US Corporate Leaders Admit AI Threatens Human Jobs; AI Startup CEO Warns US Jobless Rate Could Rise to 10-20%

AI has become a hot topic in recent years, with widespread applications in personal life, schools, and workplaces. According to The Wall Street Journal, US corporate executives are no longer avoiding the discussion of whether AI will take away human jobs, but are beginning to predict how many jobs AI will actually take away.

The report quoted Ford Motor (F.US) CEO Jim Farley, who said in an interview at an event last week that AI will eliminate a large number of white-collar jobs, potentially replacing half of the white-collar workforce in the US.

Marianne Lake, who manages consumer and community banking at JPMorgan (JPM.US), told investors in May that she expects the number of employees operating this business to drop by 10% in the coming years, as the company uses new AI tools.

The report also cited Amazon (AMZN.US) CEO Andy Jassy, who wrote in a memo to employees in June he expects the company's total workforce to reduce in the coming years, due to groundbreaking AI technology.

According to an earlier report by Axios, Anthropic CEO Dario Amodei stated in May that half of all entry-level jobs could disappear within 1-5 years, leading to a US unemployment rate of 10-20%.
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16:49
CPCA: CN Jun Retail Sales of Passenger Cars/ NEVs Up 5%/ 4% MoM

In June, the retail sales of national passenger car market in China reached 2.032 million units, reflecting a 15% YoY growth and a 5% MoM hike, as data released by the China Passenger Car Association (CPCA) showed. The total retail sales for 1H25 were 10.849 million units, up 10% YoY.

In June, the retail sales of national new energy passenger car market in China were 1.071 million units, up 25% YoY and up 4% MoM, with a retail penetration rate of 52.7%. The total retail sales for 1H25 were 5.429 million units, up 32% YoY.
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14:46
Akeso's First Bispecific ADC (Trop2/Nectin4 ADC) Enters Clinical Trials, Strengthening Leadership in 'IO+ADC' 2.0 Strategy

HONG KONG, July 3, 2025 /PRNewswire/ -- Akeso, Inc. (9926.HK) ("Akeso" or the "Company") has announced the successful enrollment of the first patient in its Phase Ia clinical trial for AK146D1, a bispecific Antibody-Drug Conjugate (ADC) targeting Trop2 and Nectin4. AK146D1 is Akeso's first bispecific ADC to enter clinical trials.

AK146D1 has recently received approval from the U.S. FDA, Australia's TGA, and China's NMPA to begin clinical trials.

Currently, Akeso's globally first-in-class bispecific antibodies, cadonilimab (PD-1/CTLA-4) and ivonescimab (PD-1/VEGF), have both been approved in China. The company has also rolled out a series of leading therapeutic strategies worldwide. Akeso is the only company globally with two approved cancer immunotherapy bispecific antibodies, positioning it with a strong global leadership advantage in the IO+ADC space.

Building on this, ADC therapeutics have become a key component of Akeso's "IO+ADC" 2.0 strategy, reshaping the global treatment landscape and setting new standards for cancer care.

Dr. Yu Xia, Founder, Chairwoman, President, and CEO of Akeso, said:
"Leveraging our extensive experience in the development of multispecific antibody drugs, the advancement of innovative bispecific ADCs like AK146D1 enables the company to unlock the global clinical potential of its innovative product portfolio, expanding opportunities for the ongoing evolution of cancer therapies."

"Our globally first-in-class bispecific antibodies cadonilimab and ivonescimab have been successfully approved in China and have shown groundbreaking clinical value across various cancer treatments. This has established a strong global advantage for the company in the IO 2.0 space. Additionally, the efficient development of ADCs, particularly a series of innovative bispecific ADCs, will further strengthen our leadership in the ADC 2.0 field. As a result, after the evolution of IO + chemotherapy, IO + ADC, and IO 2.0 + ADC, Akeso has once again created a global competitive edge in "IO+ADC" 2.0. We are excited about the potential of these next-generation treatments to benefit patients worldwide."

Trop2 and Nectin4 are highly expressed in various tumor types but exhibit relatively low expression in normal tissues, making them ideal targets for ADC therapy. By targeting both Trop2 and Nectin4, AK146D1 aims to provide a broader therapeutic window and potentially overcome resistance seen with single-target ADCs, thus improving treatment efficacy.

While there are approved monoclonal ADCs targeting Trop2 and Nectin4, AK146D1 is the first bispecific ADC targeting both markers. Preclinical studies of AK146D1 have shown promising results, demonstrating strong anti-tumor activity and favorable safety profiles in tumors expressing Trop2 or Nectin4. The development of AK146D1 holds significant potential for improving treatment outcomes for cancer patients, and Akeso is excited about the potential benefits it could offer to clinicians and patients worldwide.

 

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13:38
CN May Auto Exports Grow 12.2% YoY, Imports Dive 25%: CAAM

In May 2025, the total value of China's automobile imports and exports grew by 8.5% MoM or 3.2% YoY to USD25.06 billion, according to data compiled by the China Association of Automobile Manufacturers (CAAM) from the China Customs.

Specifically, automobile imports amounted to USD4.38 billion, up 18.4% MoM but down 25% YoY, while exports leaped by 6.6% MoM or 12.2% YoY to USD20.67 billion.
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11:33
CMSI Expects General-purpose Robots to Thrive in 2028-30, Initiates Overweight on UBTECH ROBOTICS, DOBOT

This year, AI technology is driving the intelligent upgrade of overseas robots, with leading companies leveraging vertical integration to boost iteration efficiency, CMSI wrote in its research report. In addition, Huawei has officially dabbled into the field by launching an embodied intelligence platform that fills a key gap in China's robotics sector.

In CMSI's estimate, general-purpose robots will experience explosive growth in 2028-30, with the market reaching 5 million units by 2035. However, the pace of iteration will be constrained by the coordinated evolution of models, data, and hardware.

In terms of stock recommendations, CMSI gave UBTECH ROBOTICS (09880.HK) and DOBOT (02432.HK) an Overweight rating for the first time, with target prices set at HKD110 and HKD76, respectively.
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08:08
Microsoft Reportedly Scales Back Some AI Chip Designs, Pushes Back Chip Development Timeline

Microsoft (MSFT.US) is currently revising its internal roadmap for AI server chip R&D to scale back some designs and extend the timeline for other AI chips under development, according to IT news media The Information.

It is understood that Microsoft has set its mind on launching less ambitious designs by 2028, while maintaining competitiveness with Nvidia (NVDA.US)'s AI chips.
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04:02
S&P 500 Hits New Closing High given US-Vietnam Trade Deal; Tesla Ends Up 5%

US President Donald Trump announced on Wednesday that a trade agreement was nailed with Vietnam, including a 20% tariff on goods imported from Vietnam to the US. Meanwhile, US June ADP private sector jobs shed 33,000 surprisingly, arousing concerns about the US economic situation.

US stocks were in a mixed bag on Wednesday. The S&P 500 Index closed up 29 points or 0.5%, reaching a record high of 6,227. The Dow Jones Industrial Average inched down 10 points, ending at 44,484. The Nasdaq Composite Index jumped up 190 points or 0.9%, finishing at a new high of 20,393.

Vietnam is a key production base for companies like Nike (NKE.US), GAP (GAP.US), and Lululemon (LULU.US), with Nike settling higher by 4%.

Tesla (TSLA.US) logged a 13.5% decline in deliveries last quarter, marking a decline for two straight quarters, yet its stock ended up 5%.

Microsoft (MSFT.US) will cut 9,000 jobs in the second round of large-scale layoffs, affecting less than 4% of its global workforce, with its stock slightly down 0.2%.
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2025-07-02
21:51
寧德時代與印度尼西亞合作項目正式動工

印度尼西亞卡拉旺 2025年7月2日 /美通社/ -- 近日,由寧德時代子公司普勤時代(CBL)、印尼國有礦業公司ANTAM與印尼電池公司IBC組成聯合體共同投資建設的印尼鎳資源和電池產業鏈項目,在印度尼西亞舉行奠基儀式。項目未來總投資額近60億美元,規劃年產電池可支持20-30萬輛電動汽車,並將進一步拓展至儲能領域。

印尼總統普拉博沃、中國駐印尼大使王魯彤、印尼能源與礦產資源部長巴赫利爾、印尼國有企業部長埃裡克,以及寧德時代聯合創始人兼副董事長李平等出席並見證儀式。

該項目總規劃用地超2000公頃,包括北馬魯古省東哈馬黑拉的鎳礦開採及冶煉、電池材料製造與電池回收等項目,以及西爪哇省卡拉旺的電池製造項目。其中,卡拉旺電池工廠一期產能規劃6.9GWh,將依托AI、5G、數字孿生等前沿技術,按寧德時代燈塔工廠標準建設,生產高品質電池產品,加速印尼及全球電動出行與能源轉型進程。

李平指出,項目整合了從礦產到電池材料,再到電池製造與回收等關鍵環節,打通了電池全生命週期產業鏈,「項目將為印尼淨零碳排的綠色經濟轉型注入強勁動能。」

寧德時代作為全球領先的新能源創新科技公司,也將通過邦普定向循環技術(DRT技術)助力印尼建立當地首個可再生能源循環體系。項目同時採用先進技術與可再生能源,實現超低能耗,並實現金屬回收率超95%的高價值電池材料再生。全面投產後,預計年產鎳14.2萬噸、正極材料3萬噸,並具備處理約2萬噸廢舊電池的能力。

印尼總統普拉博沃出席奠基儀式時表示:「這是一次極為重要且惠及各方的合作,也是一個規模龐大且有重大突破性的項目。通過這一項目,我們能夠生產出全世界都在追求的可再生、環保的能源。」據印尼方預測,項目全面投產後,將創造8,000個直接崗位和35,000個間接就業機會。

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19:00
Zoomlion's Heavy-Duty Crawler Crane Supports Construction of Morocco's 2030 World Cup Stadiums

ZCC9800W deployed as core lifting equipment for Rabat venue, with more projects ahead

RABAT, Morocco, July 2, 2025 /PRNewswire/ -- As Morocco accelerates preparations for the 2030 FIFA World Cup, Zoomlion's flagship crawler crane, the ZCC9800W, is undertaking critical hoisting operations at the Prince Moulay Abdellah Stadium in Rabat, one of the country's key tournament venues. Designed for large-scale infrastructure and energy projects, the ZCC9800W is delivering high-precision lifts of steel components weighing hundreds of tons, operating with efficiency and stability on site.

Zoomlion’s Heavy-Duty Crawler Crane Supports Construction of Morocco’s 2030 World Cup Stadiums
Zoomlion’s Heavy-Duty Crawler Crane Supports Construction of Morocco’s 2030 World Cup Stadiums

The ZCC9800W, a high-capacity crawler crane known for its robust performance and structural stability, has been designated as the primary hoisting solution on site. Construction teams have commended the equipment for its superior lifting capacity, precision control systems, and reliability under load, noting that its integrated performance exceeds that of comparable models in the same tonnage class. Its deployment has significantly advanced progress on structural assembly work for the stadium's main framework.

Following the completion of hoisting operations at Prince Moulay Abdellah Stadium, the ZCC9800W will be transferred to the construction site of Grand Stade Hassan II Stadium, located in Benslimane, Morocco, which is projected to be the largest football stadium in the world. This transition underscores the crane's versatility and its central role in supporting high-profile international projects with demanding technical requirements.

With extensive application in wind turbine installation, petrochemical construction, and large-scale infrastructure works, the ZCC9800W has proven its capability across a range of complex operating environments. It has demonstrated stable and efficient performance at wind power sites in Inner Mongolia under -40°C temperatures and in Vietnam under wind speeds exceeding 8 m/s, maintaining precise load handling and operational safety throughout. The ZCC9800W has also been deployed in European projects, meeting advanced operational and certification standards required in the region, and offers a competitive and reliable solution for heavy-lift scenarios in advanced economies.

The crane's performance in Morocco marks a key milestone in Zoomlion's continued advancement in the high-tonnage crane segment. Leveraging its in-house R&D and manufacturing capabilities, Zoomlion has steadily expanded its portfolio of globally competitive crawler and all-terrain cranes, providing integrated lifting solutions that meet the demands of critical infrastructure development worldwide.

About Zoomlion

Founded in 1992, Zoomlion is a global manufacturer of construction machinery, mining equipment, agricultural machinery, and other integrated solutions in over 170 countries.

Photo - https://mma.prnasia.com/media2/2723628/WechatIMG2110.jpg?p=medium600

 

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