Following the release of OpenAI's Sora, Adobe appears to be lagging in its deployment of AI video technology. Adobe unveiled a video creation tool for browsers two months ago, but it is still in the early stages of testing, while OpenAI's Sora has officially been launched this week.

Adobe stated on its website that they are granting limited access to the beta to cater to a broad range of applications and to maintain model security. They are particularly interested in collecting user feedback and have thus called for users to sign up for the wait-list.

The firm, set to publish its quarterly financial results on Wednesday, unveiled the product as a component of its Firefly AI functionalities at its yearly user conference in early October. The company mentioned then that the instrument was already being introduced in a restricted public beta phase. Adobe has additionally introduced a feature in Premiere, its video-editing software, that allows users to lengthen video clips with the help of generative AI.

A representative from Adobe communicated on Tuesday that the firm plans to broaden its reach in the forthcoming weeks and months. They stated, “Adobe Firefly stands as the sole video model on the market that assures commercial safety, and since its launch merely six weeks back, we've witnessed significant customer feedback."

Shares in Hong Kong dip as China commences pivotal economic meeting

Investors are eager for comprehensive policy actions following indications of wider stimulus from a Politburo discussion earlier this week.

The Hang Seng Index dropped by 0.8 per cent, closing at 20,155.05, and the Hang Seng Tech Index declined by 1.3 per cent. Meanwhile, in mainland China, the CSI 300 Index saw a slight decrease of 0.2 per cent while the Shanghai Composite Index experienced a minor increase of 0.3 per cent.

"Edith Qian, an analyst from China Galaxy Securities International based in Hong Kong, suggested that a long-term surge in the Hong Kong stock market would occur with the implementation of robust strategies, successful execution, and visible evidence of China overcoming the deflation-debt cycle. She added that the forthcoming central economic work conference is anticipated to boost market morale in the short run. Additionally, she predicted the unveiling of more tangible steps to adhere to the proposed policy pathways in the upcoming months."

The Fosun Tourism Group experienced a record 80% surge in its shares, reaching HK$7.21, after announcing a plan to go private. The proposed price in this plan is 95% more than the closing price of its last stock.

Wealth Management Connect's expansion fails to captivate mainland Chinese investors

Tough promotional regulations and strict qualification criteria are expected to keep affluent Chinese individuals away from the program, according to analysts.

The inclusion of 14 securities companies to the plan permitting investors from Hong Kong and mainland to purchase wealth-management products internationally had a minimal impact on the overall investments of the program last week.

By the close of Sunday, a mere 6.28% of the overall 150 billion yuan (equivalent to US$21 billion) limit in the southbound Wealth Management Connect program had been utilized. This was a slight rise of 0.08% in comparison to the usage prior to more companies participating. The usage on the northbound route was significantly less.

Experts in the field highlight a variety of problems, from rigid advertising strategies to strict investor qualification rules, which they believe will persist in discouraging affluent Chinese from this program – even while they are eager to establish bank accounts in Hong Kong to investigate a broad array of investment opportunities like insurance and fixed deposits.

"The addition of more brokers doesn't make a difference," stated Eugenie Shen, the leader of the asset management team at the Asia Securities Industry and Financial Markets Association (ASIFMA).

Shares in Hong Kong take a downturn as China initiates a significant economic gathering. Investors are eagerly awaiting further clarity on policy actions, following suggestions of wider-ranging economic stimulation from an earlier Politburo meeting this week.

The Hang Seng Index dropped by 0.8 per cent, ending at 20,155.05, and the Hang Seng Tech Index saw a decrease of 1.3 per cent. Meanwhile, in mainland China, the CSI 300 Index dipped slightly by 0.2 per cent while the Shanghai Composite Index increased by 0.3 per cent.

Edith Qian, an analyst at China Galaxy Securities International based in Hong Kong, stated that a strong and lasting surge in the Hong Kong stock market is dependent on the implementation of potent strategies, their successful execution, and visible evidence of China overcoming its deflation-debt cycle. She further added that the forthcoming central economic work conference could potentially boost market mood in the short run. Qian also anticipates the roll-out of more tangible initiatives to carry out the stipulated policy paths in the upcoming months.

The Fosun Tourism Group experienced an unprecedented growth of 80 per cent, reaching HK$7.21, after unveiling a proposal to go private. The proposal's offer price is a staggering 95 per cent above the final closing price of the company's shares.

TikTok compensates users for shopping and referring friends as a potential US prohibition looms. TikTok has been putting efforts into increasing the amount of time users spend on the app and encouraging shopping activities, in anticipation of a potential removal from US app stores on January 19.

Recently, TikTok users have started to notice a new "special deal" which rewards them with credits for the TikTok Shop. These promotional offers are popping up on the "For You" page of TikTok users, which is the primary feed that users see upon launching the app. Last Friday, a significant court decision supported a law that has the potential to prohibit TikTok across the whole country as early as January.

Individuals have the potential to gain $50 if they convince newcomers to register for TikTok, and they can secure an extra $350 in rewards if they attract more users. Regular app usage, such as logging in daily over a week, and browsing through 10 TikTok Shop items five times a week can also result in monetary benefits. If participants engage with the offer, they can additionally receive $80 in vouchers to use after buying something from the TikTok Shop.

Despite regulatory hurdles, ByteDance remains undeterred in its expansion efforts. The company's goal was to escalate the amount of goods sold through TikTok Shop by ten times, reaching US$17.5 billion, as reported by Bloomberg in January. ByteDance's aspirations have only grown since then. TikTok Shop saw its US sales triple, exceeding US$100 million on Black Friday. Additionally, the Shop made its debut in Spain on Tuesday, marking the beginning of a broader European launch.

Following the release of OpenAI's Sora, Adobe seems to be lagging in its deployment of AI video. Adobe had earlier unveiled a browser-based video creation tool, but it remains in restricted trials, even as OpenAI's Sora was recently launched to the public.

Adobe announces on its website that they are partially opening access to the beta version with the aim of maintaining model security and accommodating diverse use cases. They are primarily interested in collecting user feedback and encourage users to sign up for the wait-list.

The firm, set to disclose its quarter earnings on Wednesday, introduced the product as a component of its Firefly AI features range during its yearly user meeting in the beginning of October. They stated then that the tool was already "being introduced in a restricted public beta". In addition, Adobe released a tool within Premiere, its video-editing software, that enables users to lengthen video segments using generative AI.

A representative from Adobe announced on Tuesday that the company plans to broaden access in the forthcoming weeks and months. They stated, "Adobe Firefly is the sole video model on the market that guarantees commercial safety, and since its launch a mere six weeks ago, we've witnessed a robust customer reaction."

Hong Kong's stock market takes a hit as China initiates pivotal economic summit. Investors are eagerly awaiting more comprehensive policy actions, following suggestions of wider stimulus measures from a Politburo gathering held earlier this week.

The Hang Seng Index saw a decline of 0.8 per cent, closing at 20,155.05, and the Hang Seng Tech Index experienced a 1.3 per cent drop. Over in mainland China, the CSI 300 Index dipped 0.2 per cent, while the Shanghai Composite Index increased by 0.3 per cent.

"Edith Qian, an analyst at China Galaxy Securities International in Hong Kong, stated that for a lasting upswing in the Hong Kong stock market, it is crucial to witness strong actions, efficient implementation, and unmistakable evidence of China overcoming the cycle of deflation and debt. She further mentioned that the forthcoming central economic work conference could potentially uplift market mood in the short run. Qian also anticipates the roll-out of more specific strategies to act on the proposed policy routes in the months ahead."

The Fosun Tourism Group experienced an unprecedented surge of 80 per cent, reaching HK$7.21, after announcing a plan to go private. This plan includes an offer price that is 95 per cent above the last recorded closing price for the stock.

CATL, a Chinese company, is partnering with Stellantis, the owner of Fiat, to establish an EV battery factory in Spain costing $4.3 billion. This collaborative project has received endorsement from the Spanish government, which chose not to participate in the European Union's vote in October to enforce additional charges on EVs manufactured in China.

The agreement between the parties involves an investment of €4.1 billion, equivalent to US$4.3 billion, to construct a factory in Zaragoza, located in northeast Spain. As per the announcement, the facility will have the ability to manufacture 50 gigawatt-hours (GWh) of batteries each year. To put it in perspective, one GWh can provide enough power for 13,000 electric vehicles to travel a distance of 500km.

"Our partnership with Stellantis has elevated our collaborative efforts," said Robin Zeng Yuqun, the founder and chairman, in a late Tuesday statement. "Our advanced battery technology and exceptional operational expertise, along with Stellantis' extensive local business experience of many decades, guarantees a significant triumph."

The business endeavor in Spain is set to produce lithium iron phosphate (LFP) batteries suitable for cost-effective electric vehicles, crossovers, and mid-range sport-utility vehicles. Stellantis, the parent company of Jeep and Alfa Romeo, announced that the Spanish government has backed this joint venture to establish the factory, without going into further detail.

SenseTime, a Chinese AI creator, is aiming to raise $358 million through a share sale to finance its growth. The tech company, located in Shanghai, is offering the shares at a discount of 6.3 percent to strengthen GenAI development and surpass competitors.

SenseTime, a top AI technology company in China, is looking to raise HK$2.8 billion (approximately US$358.4 million) from a second round of stock offerings to external investors in just six months, subsequent to an internal restructuring aimed at enhancing its sector-specific focus.

SenseTime stated that the allocation provides an appropriate financial solution in support of the company's expansion and progress, considering the latest market trends. The company is offloading the new stocks under an authorization granted by its shareholders earlier in June.

The firm has engaged China International Capital Corp, Goutai Junan International, and Huatai International to assist in locating potential purchasers.

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The CEO of SenseTime anticipates that the company, which is listed in Hong Kong, will become profitable within two years through its generative AI operations.

China is encouraging mergers and acquisitions with the aim of creating ten high-tech public companies that can vie internationally by 2027. The sectors involved encompass integrated circuits, biopharmaceuticals, and innovative materials.

By the year 2027, there will be a marked enhancement in the abilities of financial intermediaries to bolster mergers and acquisitions (M&A). This will be complemented by an increased cooperation between market players, local jurisdictions, governmental bodies, and businesses, as stated by the Shanghai government. They further noted that by boosting the M&A environment and industrial capabilities, Shanghai will be in a more favorable position to further the nation's ambitions for superior economic development.

The news from Shanghai comes after the China Securities Regulatory Commission (CSRC) launched the "Six M&A Measures" in September, a move designed to bolster deals in key sectors. This initiative aims to assist publicly traded companies in transitioning towards high-tech, renewable energy, and other pioneering sectors.

The document from September also urged for "increased tolerance" from decision-makers and promised to "honor market movements while maintaining regulatory standards".

Hong Kong serves as a springboard for Chinese Electric Vehicle (EV) manufacturers, with Xiaomi revealing their new electric SUV: Here's a roundup of seven EV-related news you might have overlooked. This includes the Chinese start-up Hozon's consideration of exports and the preference of Chinese EV manufacturers for Hong Kong.

1. Xiaomi introduces YU7 electric SUV to compete with comparable models from Tesla, Li Auto, Nio

Chinese tech behemoth Xiaomi has disclosed its latest YU7 sports utility vehicle (SUV), which it plans to officially launch in mid-2025, challenging similar models from Tesla, Li Auto, and Nio in the globe's biggest electric vehicle (EV) market.

2. Implications of Xi Jinping's brief trip to Morocco for China's Electric Vehicle sector

Morocco, along with other nations in the Maghreb region encompassing central and western parts of North Africa, play a significant role in addressing two crucial challenges for China – obtaining essential materials required for manufacturing electric vehicles (EVs) and circumventing import barriers set by the US and Europe.

3. Chinese lidar manufacturer Hesai determined to expand globally despite EV tariffs

Real estate in China: Increase in inhabited property sales but decline in costs in Shenzhen, Beijing, Shanghai

It's premature to declare that China's real estate market has reached its lowest point, says Lu Ting, Nomura’s head economist for China.

It's premature to declare that China's real estate market has reached its lowest point, says Lu Ting, Nomura’s head economist for China.

Residential property transactions in several of China's biggest cities are increasing, though prices are still low. Japanese investment bank Nomura points out that the ongoing property crisis that has burdened the economy for almost four years is far from resolved.

Last week in Shenzhen, there was a record high in over three years with 2,390 previously owned homes being sold, as per the information gathered by the Shenzhen Real Estate Intermediary Association.

Comparable patterns have been noticed in other large cities such as Beijing and Shanghai, where there has been a rise in the sale of previously owned homes in the past few months.

On the other hand, the scenario for prices of occupied homes is distinct. In Shenzhen, there's been roughly a 7 per cent drop in prices during the initial 11 months of the year, as per the price index from Centaline Property. The decreases have been more pronounced in Shanghai, at around 10 per cent, and over 12 per cent in Beijing. Concurrently, the sale of new homes keeps on dwindling.

"Lu Ting, Nomura's chief China economist, expressed on Wednesday that it might be somewhat premature to assert that China's real estate industry has hit rock bottom and started to recover.