5 Top Stories

Apple: Road to Recovery in China?

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Apple: Road to Recovery in China?

Last month saw a 52% increase of sales of Apple’s [AAPL] marquee product in China. Figures from the China Academy of Information and Communications Technology showed smartphone sales soared, with 3.5 million units sold being foreign brands — most of which are iPhones, Bloomberg reported. Apple has been cutting prices since the start of the year, in a bid to compete with homegrown brands, Huawei foremost among them.

Adani Poised to go Digital

The Indian behemoth [ADANIENT:NS] is weighing an expansion into e-commerce and payments, according to sources quoted by the Financial Times. It is considering applying for a licence to operate on the country’s Unified Payments Interface, and is moving to finalise plans for a co-branded credit card. It also is hoping to break into online shopping via the government-backed public e-commerce platform, the Open Network for Digital Commerce.

Evergrande EV Unit Pops

The share price of Evergrande New Energy Auto [0708:HK], the electric vehicle (EV) unit of beleaguered real estate developer China Evergrande [3333:HK], has more than doubled after liquidators said they were in talks with a buyer who might purchase a 29% stake. Elsewhere, BP Ventures-backed BluSmart, India’s biggest electric taxi operator, wants to raise more than $300m to add thousands of new cars to its fleet.

New MU Japan Plant

Micron Technology [MU] is set to construct a new DRAM chip-making factory in Hiroshima, Japan, by the end of 2027, according to Japanese daily Nikkan Kogyo, as reported by Seeking Alpha. The company is expected to invest up to $5.1bn in the new plant, with construction scheduled to begin early in 2026. Micron had originally planned for the factory to go online this year, but market conditions led them to push this back.

Green Hydrogen Project in the Offing

French energy giant TotalEnergies [TTE] is exploring a collaboration with Austria’s Verbund [VER:VI] on green hydrogen production in Tunisia. Verbund and TE H2 — a joint venture owned 80% by TotalEnergies and 20% by Luxembourg’s Eren Groupe — signed a memorandum of understanding with Tunisia’s government to undertake research towards the project, the two companies said in a joint statement Tuesday.

Disclaimer Past performance is not a reliable indicator of future results.

CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.

*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

Continue reading for FREE

Latest articles