Day: August 8, 2025
China’s SMIC says Trump tariffs did not cause expected ‘hard landing’
China’s top foundry SMIC‘s co-CEO said on Friday that U.S. tariff policy had not resulted in the “hard landing” that the company was initially worried about and that strong domestic demand will keep its production capacity tight until October. Zhao Haijun, co-CEO of Semiconductor Manufacturing International Corp, told a post-earnings call that the company is not consulting […]
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SoftBank Group shares surge 13% to a record high after quarterly profit beat estimates
The logo of SoftBank is displayed at a company shop in Tokyo, Japan January 28, 2025. Issei Kato | Reuters Shares of SoftBank Group surged 13% Friday to hit a fresh record, following the company’s higher-than-expected fiscal first-quarter profit. This marks the Japanese investment firm’s fourth straight session of gains, and comes after it closed […]
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Asia-Pacific markets trade mixed as two key Wall Street benchmarks fall
Asia-Pacific markets start the day mixed Asia-Pacific markets opened mixed Friday. As of 8:12 a.m. Singapore time (8:12 p.m. ET Thursday), Japan’s Nikkei 225 benchmark rose 1.18% while the broader Topix index added 0.87%. In South Korea, the Kospi index fell 0.13% while the small-cap Kosdaq increased by 0.65%. Over in Australia, the S&P/ASX 200 benchmark was down […]
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Instagram’s map feature spurs user backlash over geolocation privacy concerns
Nurphoto | Nurphoto | Getty Images The launch of an Instagram feature that details users’ geolocation data illicited backlash from social media users on Thursday. Meta debuted the Instagram Map tool on Wednesday, pitching the feature as way to “stay up-to-date with friends” by letting users share their “last active location.” The tool is akin […]
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