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Latest: Asia Stock Market News

Huawei’s State-Backed Smart Car Firm Set For $35bn Valuation
Huawei’s State-Backed Smart Car Firm Set For $35bn Valuation

Huawei has said the new unit will engage in R&D, production, sales and service of intelligent automotive systems and component solutions

Summit Leader ‘Using COP28 to Promote Fossil Fuels’ – NYT
Summit Leader ‘Using COP28 to Promote Fossil Fuels’ – NYT

Leaked document has talking points for the president of the UN climate conference, who is an oil executive in the UAE, to advance oil and gas deals, reports say

Hang Seng Drops on Tech, Earnings; Banking Weighs on Nikkei
Hang Seng Drops on Tech, Earnings; Banking Weighs on Nikkei

Hang Seng heavyweight Meituan slumped 11% on consumer demand fears, sparking a dive in tech shares

China’s Debt-laden Provinces Raise $21bn to Save Small Banks
COP28: Cities Give A Glimpse of Changes Sweeping the World
Alibaba Shuts Down Quantum Computing Lab Amid Restructuring
Chinese-Owned Nexperia Set to Take Over Dutch Chip Startup
‘De-Risking’ by Western Businesses Eroding China’s Outlook
Cities Lead COP28 Climate Change Push as Nations Fail to Deliver
Yen Rebound Drags on Nikkei, China Data Weighs on Hang Seng

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Markets: The Big Picture

ASML in the Centre of the Chip War

With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors