Apple's iPhone 16 has boosted the company to the second position in China's smartphone market for the third quarter. Apple has secured a 15.6% share in the highly significant Chinese market, trailing behind Vivo, which holds an 18.6% market share.

In the quarter ending in September, iPhone deliveries accounted for 15.6% of the market, trailing only Vivo, which held 18.6% of the market, as per IDC's Friday report. Despite the boost from Apple's newest models, its market share experienced a dip from last year's 16.1% for the same timeframe.

Apple saw a slight drop of 0.3% in its smartphone sales compared to the previous year. However, the initial sales of the iPhone 16 series, released in September, have generally matched the sales of its predecessor, as per the report.

According to IDC, China, which holds the title for the world's biggest smartphone market, has witnessed a 3.2% increase in smartphone deliveries, amounting to 68.8 million devices in the third quarter. This implies a consistent growth observed for the fourth time in a row.

FTSE Russell, the index provider, has affirmed its commitment to continue creating offerings for Chinese assets. The CEO has expressed the company's belief that China continues to be a crucial market for global investors, largely due to its vast size and potential for growth.

Despite facing difficulties due to broad economic factors, geopolitical conflicts, and unpredictability, worldwide investors remain confident that China's financial markets are driven by robust momentum, says Fiona Bassett.

"We maintain that China continues to be a crucial market for global investors because of its enormous size and development prospects. As a provider of indexes, we view our responsibility as aiding our clients in entering those markets," Bassett remarked during a discussion with the Post.

The firm, a subsidiary of the London Stock Exchange Group, marked its 20th year in China last year with the FTSE China A50 index. This index monitors the top 50 businesses listed on the mainland's stock exchanges.

"Bassett expressed admiration for the remarkable transformation of China's financial markets in the past two decades," he said. "Clearly, the market is quite vibrant, and the introduction of economic stimulus plans is indeed a positive development."

Hesai from China continues to contest the Pentagon's decision to blacklist it

The US Department of Defense is once again placing the Chinese lidar manufacturer on its blacklist, overturning a previous ruling.

Hesai confirmed that its products are exclusively for commercial and civilian applications, and it has no affiliations with the Chinese military or any other military organization, according to an emailed statement to Reuters. The company further indicated that the lawsuit is an extension of the current legal proceedings and it will persist in these proceedings to rectify the inaccuracies.

The United States Defense Department refrained from giving any statement.

Landing on the so-called 1260H list serves as a caution to U.S. organizations and firms about the potential threats to national security that may arise from engaging in business with them.

Chinese firm Hesai is set to continue contesting the Pentagon's decision to blacklist them. The U.S. Department of Defense is placing the Chinese lidar manufacturer back on its blacklist, overturning a previous decision.

Products from Hesai are exclusively for commercial and civilian applications, and the company has no ties to the Chinese military or any other military establishment, as per the company's emailed statement to Reuters. The legal suit is part of the ongoing judicial procedure, and the company will persist in the process to rectify these inaccuracies, it further stated.

The U.S. Defense Department refrained from giving any statement.

Landing on the so-called 1260H list serves as an alert for US organizations and businesses regarding the national security hazards associated with engaging in transactions with them.

Chinese company Hesai continues to contest the Pentagon's blacklist ruling. The U.S. Department of Defense is putting the Chinese lidar manufacturer back on its blacklist, overturning a previous decision.

Hesai asserted that its products are used solely for commercial and civilian purposes, and it has no ties with the Chinese military or any other military entity, according to a statement emailed to Reuters. The lawsuit is just a progression of the current legal situation and the company plans to persist with the legal proceedings to rectify these errors, the statement further clarified.

The United States Defense Department refrained from making any statements.

Being included on the so-called 1260H list serves as a cautionary signal to U.S. organizations and businesses about the potential national security dangers involved in transacting with them.

Stocks in Hong Kong are climbing, reducing the weekly deficit, as the future economic growth of China appears promising. An analyst notes, 'We are of the opinion that the assurance of Chinese homebuyers in the real estate market has significantly strengthened.'

Indices on the mainland also saw an increase. The CSI 300 Index rose by 0.7 per cent, while the Shanghai Composite Index gained an additional 0.6 per cent.

Promising indications for the economic sector have been noted as pre-sales of residences in 30 major Chinese cities saw a 22% boost from a solid foundation set in the preceding week, as per financial information supplier, Wind. The surge was primarily driven by first-tier cities, where sales shot up by 27% in the last week, as depicted by the data. A nationwide sales leap of 58% was recorded in the week before on a week to week comparison.

A drop in US Treasury yields, which had previously been pushed higher due to dwindling expectations of a significant reduction in interest rates and increased chances of Donald Trump's presidential victory, also sparked buying enthusiasm.

"Considering the determination of policymakers to rescue the real estate market with a host of robust initiatives introduced since the end of September, we're convinced that the confidence of Chinese homebuyers in the property market has significantly strengthened," stated Raymond Cheng, the Managing Director at CGS International Securities in Hong Kong. "We anticipate that monthly industry sales in the last quarter will show an increase compared to the previous year. By 2025, we predict that industry sales might experience the first positive annual growth since 2022."

Performance of TSMC's Arizona chip factory surpasses those in Taiwan, enhancing US efforts

The initial production output at Arizona's first TSMC factory has exceeded that of comparable plants in Taiwan, according to a high-ranking official.

The percentage of functional chips produced at TSMC's Phoenix facility is approximately 4 percentage points greater than similar facilities in Taiwan, as shared by Rick Cassidy, the head of TSMC's US division, during a webinar on Wednesday, based on information from a participant. The production success rate, often referred to as the yield, is a vital metric in the semiconductor sector as it dictates if the substantial expenses of establishing a chip plant can be recuperated.

A spokesperson from TSMC chose not to directly address Cassidy's event, instead pointing to comments made by CEO C.C. Wei during a recent call with investors.

"In April, our initial factory started manufacturing engineering wafers using 4-nanometer process technology, and the outcome has been extremely positive, producing a high yield," he stated then. "This marks a significant operational achievement for TSMC and our clients, showcasing TSMC's robust production capacity and implementation."

Prominent Chinese fund manager invests in Alibaba and alcohol-related stocks for investor yields. Zhang Kun from E Fund Management anticipates substantial profits and dividends from tech and consumer stocks.

As of the end of September, the fund had invested 4 billion yuan (equivalent to US$561.4 million), which constituted 9.1% of the fund's total assets, according to the announcement. The fund's mid-year report indicated that Alibaba wasn't included in Zhang's portfolio in June.

"We've noticed that the dividend yields of major consumer companies are some of the highest in the market, even exceeding those on the dividend indexes," stated Zhang in the report. "When taking into account all components of shareholder returns, such as buy-backs and dividend payouts, several top technology and consumer stocks provide extremely high returns, whether measured on an absolute or relative basis."

Zhang is recognized for his approach to value investing and the substantial amount of funds he oversees. His premier offering is the Blue Chip fund, worth US$6.2 billion.

The fund accomplished a 15.1% yield in the previous quarter by implementing a strategy of investing in Alibaba and other big-cap stocks such as the Chinese alcohol manufacturer, Shanxi Xinghuacun Fen Wine Factory. This outperformed the 12% increase of a tailor-made benchmark, created specifically to measure the fund's performance. The benchmark includes shares listed in Hong Kong, onshore stocks, and bonds, as per the quarterly report.

Apple's CEO, Tim Cook, had a meeting with China's Minister of Commerce, marking his second interaction with a regulator this week. Wang Wentao, the Commerce Minister, expressed his enthusiasm for Apple to further immerse itself in China's market. In response, Cook reaffirmed Apple's dedication to the market.

Wang Wentao, the Chinese Commerce Minister, during his interaction with Cook, encouraged Apple to leverage the opportunity and enhance its presence in the Chinese market, as per the ministry's statement released on Friday. He emphasized that the economic collaboration between China and the US, which is mutually advantageous, is beneficial for both nations. He also pointed out that exaggerating the national security concerns could hinder regular economic and trade interactions.

During the meeting, Cook referred to China as a significant market and a crucial partner in Apple's supply chain, according to the statement. He further mentioned that Apple would persist in its investments in Chinese supply chains. Cook also expressed that Apple would maintain its role as a connecting link between China and the US, particularly in economic and trade matters.

Apple Intelligence, a collection of generative AI (GenAI) services, is set to roll out shortly in specific nations, excluding China. This is due to the necessity of obtaining a license from Beijing before any such software can be publicly launched. As of August, China has greenlit 188 GenAI services for its citizens, all of which are designed by domestic companies.

Hong Kong records three home sales worth millions within a week as affluent purchasers are making a comeback. Two significant transactions were noted in Mid-Levels, with another one listed in Happy Valley.

DBS Bank (Hong Kong) CEO, Sebastian Paredes, spent HK$49.4 million to acquire a three-bedroom apartment measuring 1,249 square feet at The Aster, located in Happy Valley, as per Land Registry documents. The buying price is over double the amount the previous owner paid for the same property in 2011.

In the meantime, Ngai Lun Limited was listed as the purchaser of a 3,335 square foot apartment in Grenville House, also located in Mid-Levels, for a price of HK$114 million. According to official papers, Zhang Jinglin, who holds a Hong Kong ID, is recorded as the director of Ngai Lun. The property was last sold in 2012 for HK$90 million.

The program was reestablished in March following its suspension in 2015. This was due to the fact that real estate acquisitions by new immigrants were causing a significant increase in domestic property prices.

Shein's earnings are reportedly dropping by 70% as it faces competition from Temu and Zara

The decrease in profit growth is impacting the firm's intentions to go public in London.

The earnings increase for the company registered in Singapore decreased to 23 per cent in the given period, a drop from the full year of 2023's 40 per cent. The company's profits fell under US$400 million, according to The Information, which referenced anonymous sources.

These figures indicate a notable slowdown compared to the previous year, when the firm's profits surged to an all-time high of more than $2 billion, as reported by the Financial Times in March.

Shein, a privately-owned company, keeps its financial information confidential and does not share it with the general public. The company didn't promptly reply to a request for their input on Friday.

If verified, the decrease in earnings growth could add more doubt to Shein's plan for an initial public offering, in addition to regulatory hurdles. The company is gearing up for a listing in London and has been in discussions with prospective investors, following its decision to drop a previous plan to launch publicly in New York due to resistance from US legislators.

Shein's earnings are reportedly plummeting by 70% as competitors Temu and Zara threaten its leading position. The decelerating profit increase is becoming a burden on the company's ambition to launch publicly in London.

The income increase for the Singapore-based firm decelerated to 23 per cent within the timeframe, a drop from the 40 per cent observed in the entire year of 2023. Earnings fell under US$400 million, as per the report from The Information, which quoted anonymous informants.

The figures indicate a substantial slowdown compared to the previous year, during which the firm boosted its earnings over two-fold, hitting a record peak of over US$2 billion, as reported by the Financial Times in March.

Shein, a privately owned company, keeps its financial information confidential and does not share it with the general public. The company did not provide an immediate response to a comment request made on Friday.

Should the decrease in earnings growth be verified, it would introduce additional ambiguity to Shein's initial public offering (IPO) strategy, already complicated by regulatory challenges. The company is gearing up for a listing in London and has been in discussions with potential investors. This comes after an initial strategy to go public in New York was scrapped due to resistance from US legislators.