BABA-W (09988.HK) delivered quarterly results miss. Following a share slide of over 4% last Friday (16th), it opened 2.84% lower this morning (19th), before losses deepened to bring the stock bottom at HK$117.6. It last posted at HK$117.7, down 4.62%, with 28.0728 million shares traded, amounting to HK$3.345 billion.

U.S. White House and congressional officials have reportedly been reviewing Apple’s (AAPL.US) AI cooperation plan with Alibaba over the past few months, as Apple aims to introduce its AI, Apple Intelligence, to China, with Alibaba as one of the partners.

Separately, the U.S. government is discussing whether to include Alibaba and other Chinese AI companies on a list prohibiting business with U.S. companies, report told.
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Tmall 618 sales kicked off vigorously at 8 PM last Friday evening (16th), according to data from TTG (Taobao and Tmall Group) under BABA-W (09988.HK)(BABA.US).

In the first hour of sales, over 13,000 brands doubled their sales, with 43 brands including Apple (AAPL.US), MIDEA GROUP (00300.HK)(000333.SZ), Haier, XIAOMI-W (01810.HK), Huawei, Proya, Nike, Gree and L'Oreal swiftly surpassing RMB100 million.

The number of brands in the "100 Million Club" spiked by over 50% compared to the same period last year. Major industries such as 3C digital, beauty, home appliances and decoration, clothing, sports and outdoor, pets, and international sectors all exceeded expectations in transactions.
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It is reported that Microsoft (MSFT.US) planned to cut 3% of its global workforce, affecting approx. 6,000 employees.

Citi Research issued a research report estimating that the restructuring costs this time will be between US$760 million and US$800 million, referencing the Company's 2023 layoff of 10,000 employees which resulted in related expenses of US$1.2 billion.

The broker believed that this reflects Microsoft's cautious approach to enhancing operational efficiency, with some of the savings expected to be reinvested in R&D, including supporting AI product development.

Based on the 3FQ25 results and management's statements, Citi Research remained confident on market demand, and was optimistic about Microsoft's leading position in the GenAI field. The broker reiterated rating at Buy, and elevated its target price from US$480 to US$540, with expectations that Microsoft can continue to post double-digit profit growth.
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Nvidia (NVDA.US) plans to establish an R&D center in Shanghai to maintain competitiveness in China, where sales have been dampened by U.S. export controls, the Financial Times, citing people familiar with the matter, reported.

Nvidia CEO Jensen Huang discussed the plan with Shanghai Mayor Gong Zheng last month, with the Shanghai government expressing preliminary support, report told. Nvidia is also pursuing U.S. government’s greenlight.

The company currently employs about 2,000 staff in Shanghai, primarily in sales, and is leasing new office space to accommodate existing employees and support expansion.

The new Shanghai R&D center will address specific customer needs in China while complying with complex U.S. regulatory requirements, sources divulged.

However, core design and production will remain outside China to avert legal sensitivities, such as intellectual property transfers.
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Alphabet (GOOGL.US) announced that Google One's subscription service users surpassed 150 million-level. Since February 2024, when subscriptions exceeded 100 million, there has been a 50% growth. The service has been continuously growing since its launch nearly six years ago.
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Meta (META.US) delayed the launch of its flagship AI large language model (LLM), Behemoth, according to The Wall Street Journal. Hence, Meta closed down 2.4% on Thursday.

Meta engineers are encountering difficulties in improving Behemoth's capabilities, with the launch date previously postponed to June, and now further deferred to fall or later, the report added.
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The latest U.S. economic data was a mixed bag, and Federal Reserve Chairman Jerome Powell warned of potential long-term interest rate increases, posing policy challenges.

U.S. stocks opened lower on Thursday but closed higher, with the DJIA reversing from a plunge of up to 273 points to soar 271 points or 0.7%, closing at 42,322. The S&P 500 added 24 points or 0.4% to settle at 5,916, marking its fourth day of upswing. The Nasdaq dipped 34 points or 0.2% to rest at 19,112.

Insurance company UnitedHealth (UNH.US) plunged 11% as the U.S. Department of Justice launched an investigation into the company.

Techs waned, with Amazon (AMZN.US) and Meta (META.US) both shedding over 2%; Tesla (TSLA.US) down 1.4%; and Nvidia (NVDA.US), Apple (AAPL.US), and Alphabet (GOOG.US) each fading less than 1%.
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Investors are awaiting the next batch of economic data, as the U.S. government announced an AI-related deal with the Middle East on Tuesday, shoring up some U.S. tech stocks. The Nasdaq delivered prominent performance on Wednesday, closing up 136 points or 0.7%, at 19,146.

The U.S. stock market was broadly lackluster, mainly because Federal Reserve Chairman Jerome Powell was scheduled to speak on Thursday, and investors are also waiting for the PPI and retail sales data for April to be released on Thursday morning.

The S&P 500 and DJIA held steady on Wednesday. The S&P 500 finished up 6 points or 0.1%, at 5,892; and the DJIA dipped 89 points or 0.2%, at 42,051.

Nvidia (NVDA.US) topped the chart among Nasdaq constituents in terms of upswing, leaping 4.2% for the day. AMD (AMD.US) announced a US$6 billion stock buyback plan and a Middle East cooperation plan before the U.S. market opened, with the stock soaring 4.7%. Super Micro Computer (SMCI.US) reached a partnership with Saudi DataVolt, with the stock rocketing nearly 16%.
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Apple (AAPL.US) planned to introduce an eye-scrolling feature in its upcoming version of its Vision Pro's operating system, visionOS 3. Users will be able to control and navigate software using their eyes.

This feature will be available on all Apple-built applications on Vision Pro, and can be integrated by developers into their own software to enhance the device interface.
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In 4M25, BYD COMPANY (01211.HK) sold 3,002 vehicles, accounting for 20% of Singapore's total auto sales, becoming the country's top-selling car brand, outselling Toyota (7203.JP) for the first time.

During the period, Toyota and BYD COMPANY's main EV rival, Tesla (TSLA.US), sold 2,050 and 535 units respectively, while Toyota had maintained its leading position until then.
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