PRE-MARKET CHINESE STOCK NEWS
Importance
Level 1
China
Alibaba (9988 HK / BABA) – The Co. is preparing to list its chipmaking arm, with the plan to restructure the unit as a business partly owned by employees. (Bloomberg)
HSBC (0005 HK) – The Co.’s Taiwan bank has signed an MOU with the Taiwan High Prosecutors' Office to improve cooperation on the suspicious transaction analysis mechanism. (Taipei Times)
Lenovo (0992 HK) – The Co. is to back up to USD 1mln in SMEs in Singapore to help with AI. (Straits Times)
MMG (1208 HK) – Co. reported Q4 copper production of 108.6k/T of output, -7% Y/Y.
Shanghai Rural Commercial Bank (601825 CN) – The Co. has signed a loan agreement with The New Development Bank for the Greener Shanghai Project. (Xinhua)
Other News
- US and China sign off on deal to sell TikTok's US business to consortium led by Oracle, Silver Lake.
- China is likely to set 2026 economic growth target between 4.5-5.0%, SCMP reports citing sources.
- PBoC Governor Pan said China has room this year to cut RRR and interest rates, pledging flexible use of tools.
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