Alibaba's shares fell in Hong Kong after the company announced a $10 billion share sale to fund AI investments. This comes just days after Alibaba reported a 75% drop in profit for the June quarter due to heavy AI expenditures:
Meanwhile, Nvidia is reportedly planning to hike AI prices for some of its largest customers. Technology stocks are weighing on trade across Asia, particularly in Hong Kong's Hang Seng and South Korea's Kospi:
Trade Showdown
Talks between the U.S. and Canada have broken down, as the two sides failed to reach a trade deal. New tariffs will take effect, impacting around $20 billion worth of Canadian imports:
Economic 'D-Day'
U.S. Treasury Secretary Scott Bessent is preparing a statement on economic actions against Iran, which he has called 'the single greatest financial offensive ever.' Iranian Foreign Minister Abbas Araghchi has dismissed the threat of new U.S. economic sanctions:
Ukraine's Independence Day
Ukraine marks the 35th anniversary of its independence, and this year hopes for new financial pledges to support its fight against Russia:
