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Latest: Asia Stock Market News

China Chipmaker SMIC Sees Revenue Jump 20% Amid Demand Woes
China Chipmaker SMIC Sees Revenue Jump 20% Amid Demand Woes

China’s largest contract chipmaker said revenue jumped as both domestic and global customers rebuilt inventories

China Car Exports Hit Record High in April, as Local Sales Drop
China Car Exports Hit Record High in April, as Local Sales Drop

Car exports jumped by 38% year-on-year to 417,000 units in April, after a 39% rise in March; but domestic sales were down nearly 6% from 2023

US Insurer Sues China’s Third Biggest Bank Over ‘Massive Fraud’
US Insurer Sues China’s Third Biggest Bank Over ‘Massive Fraud’

US insurance provider Porch Group is suing China Construction Bank in a US court for allegedly enabling a "massive fraud" that caused it multi-million-dollar losses

World Headed For 2.5C of Heating, Top Scientists Say – Guardian
US Tariffs Loom on Chinese EVs, And Maybe Solar Panels
AI Can’t Be Trusted to Set Interest Rates – Yet: Bank Chief
New Huawei Phone Shows US Sanctions May Be Working
Two More Big Chinese Cities Scrap Home Buying Restrictions
Tesla Target of US Fraud Probe Over Autonomous Car Claims – Verge
Hang Seng Lifted by Property, Data Boosts; Tech Drags on Nikkei

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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