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Real-time News
On May 7th, CNBCs Jim Cramer stated on Wednesday that cloud computing giants absolutely cannot skimp on their investment in artificial intelligence (AI). Cramers comments came after some described the surge in data centers and AI-related stocks as a "build it and theyll come" model—companies aggressively investing in infrastructure in the hope of eventually attracting customers. However, Cramer argued that applying this famous line from the movie *What Happens When It Comes* to the AI boom ignores a crucial point: customers already exist, and cloud service providers eager to meet demand are working hard to satisfy it. "The key to this data center boom is that its not a fantasy story, because data centers are being built, customers are actually flocking in, theyve already secured their places, and the momentum is building until every seat is filled," he said. He cited Amazon as an example to demonstrate that a comprehensive AI strategy is no longer just a pipe dream. Cramer quoted Amazons CEO regarding the need for continued investment: "If you dont build this stadium, customers will go elsewhere, and youll miss out on a lot of business opportunities."The Hang Seng Tech Index rose more than 3% intraday, the Hang Seng Index rose 1.54%, Kuaishou (01024.HK) rose more than 7%, Hua Hong Semiconductor (01347.HK) rose more than 6%, and Tencent Music (01698.HK), Kingsoft (03888.HK) and Baidu (09888.HK) all rose more than 5%.On May 7th, according to foreign media reports, Malaysian palm oil futures fell for the second consecutive trading day on Thursday, pressured by weakness in rival edible oils, although stronger crude oil prices limited the decline. The most active palm oil futures contract fell 38 ringgit, or 0.83%, to 4,541 ringgit per metric tonne in early trading. The most actively traded soybean oil contract in Dalian fell 1.43%, and the palm oil contract fell 1.92%. Soybean oil prices on the Chicago Board of Trade fell 0.63%. In early trading, oil prices rose by about $1, rebounding from the previous days plunge, as investors weighed the success of the Middle East peace agreement. Stronger crude oil futures made palm oil a more attractive biodiesel feedstock option. The ringgit, the currency for palm oil, rose 0.26% against the US dollar, making it more expensive for buyers holding foreign currency to purchase palm oil. Analysts say Malaysian palm oil prices could rise by about 12% to 5,200 ringgit per tonne by mid-July, as the war between the US and Israel over Iran has led to higher energy prices, stimulating demand for biodiesel and tightening supply.On May 7th, Bank of America issued a report stating that HSBC Holdings (00005.HK) and Standard Chartered Group (02888.HK) will hold investor seminars in Hong Kong from May 19th to 21st. The report anticipates this event will be a positive catalyst for both banks, as management will showcase strong operating trends in Asia, particularly in wealth management and capital markets. The bank further noted that given HSBC Holdings winning position in the Asian market, its high-quality deposit business, and managements effective strategy execution amplifying its competitive advantage, the bank maintains a positive outlook on HSBC Holdings, giving it a buy rating and a target price of HK$158.25. Additionally, the bank maintains a neutral rating on Standard Chartered UK shares.On May 7th, Citigroup issued a research report stating that CK Hutchison Holdings (00001.HK) announced the sale of its 49% stake in its UK telecommunications joint venture, Vodafone Three, to Vodafone for a cash consideration of £4.3 billion (approximately HK$45.5 billion). The bank believes this sale is a value-added transaction for CK Hutchison, and expects management to continue seeking opportunities to unlock value, which will help narrow the stocks current significant NAV discount of approximately 58%. CK Hutchison expects to record an after-tax gain of approximately HK$4.7 billion upon completion of the transaction. Citigroup points out that the sale price is approximately 9% higher than its valuation of Vodafone Three (approximately HK$41.7 billion) and approximately 13% higher than CK Hutchisons net investment at the end of 2025 (approximately HK$40.1 billion). The bank expects the transaction to be completed as early as the end of 2026. Citigroup accordingly raised its target price for CK Hutchison from HK$78 to HK$81.5 and maintained its buy rating.
