Morning brief: US-Japan deal continues; HashKey eyes IPO; Senate passes chip curbs
A day of significant global developments is underway, as the United States and Japan pledge to move forward on a landmark trade deal, the US Senate takes a major step to curb China’s access to advanced technology, and a leading crypto exchange in Hong Kong prepares for a major public listing.
Here’s your one-stop stand to catch up on all the headlines you may have missed.
US and Japan to press on with their landmark trade deal despite a change in leadership
The United States and Japan have confirmed they will continue their efforts to fully implement their recent trade deal, a crucial signal of stability as the Asian nation transitions to a new leader.
US Commerce Secretary Howard Lutnick and his Japanese counterpart, Ryosei Akazawa, spoke by phone for about an hour and pledged to carry out the agreement reached in July.
“The two exchanged views on the sincere and prompt implementation of the Japan-US agreement and reaffirmed their commitment to further strengthen the Japan-US alliance,” Japan’s Cabinet Secretariat said in a statement.
The pact has already seen US tariffs on Japanese cars lowered to 15 percent, but a massive $550 billion Japanese investment fund into the US has yet to get off the ground.
Hong Kong crypto exchange HashKey is reportedly mulling a $500 million IPO
HashKey Group, the operator of Hong Kong’s largest licensed crypto exchange, has confidentially filed for an initial public offering in the Asian financial hub, according to people with knowledge of the matter.
A listing, which could happen as soon as this year, could fetch as much as $500 million.
The move is a significant test of investor appetite for crypto-related assets in Asia and comes as Hong Kong continues its push to establish itself as a global digital-asset hub.
HashKey, which also operates venture funding and asset management arms, was recently valued at over $1 billion.
The US Senate has passed new AI chip export limits on Nvidia and AMD to China
In a setback for the chip industry, the US Senate has passed bipartisan legislation that would force advanced artificial intelligence chipmakers like Nvidia Corp. and Advanced Micro Devices Inc. to ensure US companies get priority access to their products before they can be sold to China.
The measure, which is designed to bolster US competitiveness and curb exports to foreign adversaries, was easily approved late Thursday.
“Today, the Senate acted to make sure American customers — including small businesses and startups — aren’t forced to wait in line behind China’s tech giants when purchasing the latest AI chips,” said lead Democratic co-sponsor Senator Elizabeth Warren.
Citigroup expects up to $20 billion in Indian IPOs over the next year
Initial public offerings in India could raise as much as $20 billion over the next 12 months, a boom that would help the country cement its position as one of the world’s busiest listings markets, according to Citigroup Inc.
IPOs have already fetched $12 billion in India this year, with another $5 billion set to be added this month alone. “India is likely to be the world’s most active ECM market along with Hong Kong over the next year,” said Harish Raman, a top Citi executive for the Asia Pacific region.
The boom has been driven by a deep pool of domestic capital, which has more than offset the more than $15 billion that foreign investors have pulled out of the market this year.
The post Morning brief: US-Japan deal continues; HashKey eyes IPO; Senate passes chip curbs appeared first on Invezz
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Morning brief: US-Japan deal continues; HashKey eyes IPO; Senate passes chip curbs
A day of significant global developments is underway, as the United States and Japan pledge to move forward on a landmark trade deal, the US Senate takes a major step to curb China’s access to advanced technology, and a leading crypto exchange in Hong Kong prepares for a major public listing.
Here’s your one-stop stand to catch up on all the headlines you may have missed.
US and Japan to press on with their landmark trade deal despite a change in leadership
The United States and Japan have confirmed they will continue their efforts to fully implement their recent trade deal, a crucial signal of stability as the Asian nation transitions to a new leader.
US Commerce Secretary Howard Lutnick and his Japanese counterpart, Ryosei Akazawa, spoke by phone for about an hour and pledged to carry out the agreement reached in July.
“The two exchanged views on the sincere and prompt implementation of the Japan-US agreement and reaffirmed their commitment to further strengthen the Japan-US alliance,” Japan’s Cabinet Secretariat said in a statement.
The pact has already seen US tariffs on Japanese cars lowered to 15 percent, but a massive $550 billion Japanese investment fund into the US has yet to get off the ground.
Hong Kong crypto exchange HashKey is reportedly mulling a $500 million IPO
HashKey Group, the operator of Hong Kong’s largest licensed crypto exchange, has confidentially filed for an initial public offering in the Asian financial hub, according to people with knowledge of the matter.
A listing, which could happen as soon as this year, could fetch as much as $500 million.
The move is a significant test of investor appetite for crypto-related assets in Asia and comes as Hong Kong continues its push to establish itself as a global digital-asset hub.
HashKey, which also operates venture funding and asset management arms, was recently valued at over $1 billion.
The US Senate has passed new AI chip export limits on Nvidia and AMD to China
In a setback for the chip industry, the US Senate has passed bipartisan legislation that would force advanced artificial intelligence chipmakers like Nvidia Corp. and Advanced Micro Devices Inc. to ensure US companies get priority access to their products before they can be sold to China.
The measure, which is designed to bolster US competitiveness and curb exports to foreign adversaries, was easily approved late Thursday.
“Today, the Senate acted to make sure American customers — including small businesses and startups — aren’t forced to wait in line behind China’s tech giants when purchasing the latest AI chips,” said lead Democratic co-sponsor Senator Elizabeth Warren.
Citigroup expects up to $20 billion in Indian IPOs over the next year
Initial public offerings in India could raise as much as $20 billion over the next 12 months, a boom that would help the country cement its position as one of the world’s busiest listings markets, according to Citigroup Inc.
IPOs have already fetched $12 billion in India this year, with another $5 billion set to be added this month alone. “India is likely to be the world’s most active ECM market along with Hong Kong over the next year,” said Harish Raman, a top Citi executive for the Asia Pacific region.
The boom has been driven by a deep pool of domestic capital, which has more than offset the more than $15 billion that foreign investors have pulled out of the market this year.
The post Morning brief: US-Japan deal continues; HashKey eyes IPO; Senate passes chip curbs appeared first on Invezz
Read More
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