Hello, I am Hui Jie, sending you this issue of CNBC " Daily Open " from Singapore.
As investors resumed buying into the tech sector in the United States, tech trading has seen a rebound, but the same sentiment has not crossed the Pacific Ocean.
However, the enthusiasm for listings in Asia continues to rise. Multiple companies are competing for a share of the Jio in India, and venture capitalists Jenny Lee also indicate that startups in this region are "accelerating" their move towards IPO.
Things you need to know today
After a week of investors reducing their exposure to technology, some have begun to cautiously rebuild their positions.
On Monday in the U.S. market, the Nasdaq Composite Index rose by more than 1%, with tech stocks leading the gains.
Chip giant NVIDIA rose 1.4%, Tesla rose 3.8%. Alphabet The stock price increased by about 1%.
However, this sentiment did not seem to spread to Asia on Tuesday. The Kospi index, which has a high weight of technology stocks in South Korea, led the regional markets down, with a decline of over 4%. Japanese tech stocks also mostly fell, with the Nikkei 225 index dropping by 1.6%.
NVIDIA in Germany
In Europe, NVIDIA is increasing its investment in the local artificial intelligence field, announcing plans to support four German startups. Germany is also making efforts to strengthen its position in the industrial AI sector.
These investments are part of a nearly $10 billion commitment previously announced by this American chip manufacturer. This commitment will be used to invest in companies, universities, and research institutions across Europe. The relevant news was announced at the “Invest in Germany Summit” event held in Berlin on Monday.
German Chancellor Friedrich Merz described this technology as a major opportunity for the German economy and told small and medium-sized enterprises: "Please open your doors so that AI can make use of your data."
Mertes said, "This is a real secret for Germany, and it's also a real advantage, because we can make use of all the data that already exists within the company."
IPO in Asia
According to venture capitalist Jenny Lee, the IPO craze is gradually gaining attention in Asia, with newly established companies entering the initial public offering (IPO) stage earlier than in the past.
Granite Asia Senior Managing Partner Lee indicates that in the West, companies tend to remain private for a longer period of time, whereas Asian enterprises prefer a faster timeline for going public.
Lee said in an interview, "On average, the holding period before a company goes public is 8 to 10 years. However, for the later-stage companies we see now, they actually start preparing for IPO 4 to 5 years after their establishment."
In India, people familiar with the situation said that the initial public offering (IPO) of Jio Platforms's anchor investor placement was oversubscribed by more than 30 times, attracting top asset management companies including BlackRock, Capital Group, and GIC to bid.
India's largest telecommunications and digital services company, supported by Meta and Google, plans to raise up to 302 billion rupees (3.2 billion US dollars), the largest amount in Indian history, in rupees.
—— Lim Hui Jie
Finally...
"Can't play hide-and-seek": Minister issues warning about haze, Singapore's agriculture stocks fall
On Tuesday, the stock prices of several agricultural companies listed in Singapore fell, following a warning from senior minister K Shanmugam that they would not “shirk responsibility” for any potential connection to the haze that enveloped the city-state.
Shanmugam said, "A company cannot play hide-and-seek through different corporate structures in the hope that this will help them." He also revealed that the Singapore Exchange has already approached 7 companies.
He warned, "We will resort to all legal and regulatory means at our disposal to exert pressure at critical points, including on their profits, financing channels, and their position among investors."
—— Lim Hui Jie
