Tencent Holdings is embedding an artificial intelligence agent named Xiaowei into its WeChat super-app, which already serves over a billion users in China for various daily tasks.

Tencent's shares have slid amid concerns over its capital expenditure related to artificial intelligence. This development was highlighted on "Bloomberg: The China Show," which provides analysis on China's economy.

Tencent and Vor Biopharma have both released their second-quarter financial results. These reports provide insights into the companies' performance and financial health during the quarter.

Tencent Holdings Ltd.'s revenue surpassed analyst estimates, boosted by a surge in WeChat advertising sales and resilient performance in its gaming division, as the company continues to develop its artificial intelligence capabilities.

Tencent Music Entertainment reported non-GAAP EPADS of $0.25, beating estimates by $0.01, with revenue of $1.32 billion also surpassing expectations. Huya's non-GAAP EPADS of $0.02 beat by $0.01, but its revenue of $256.3 million missed estimates by $6.71 million.

Upper Austria's energy chief stated that Google's planned four terawatts for its Kronstorf data center will heavily rely on imports, emphasizing the need for wind power expansion.

Tencent is reportedly expanding its artificial intelligence initiatives internationally, with a broader rollout of its Hy3 AI model to reach more overseas markets.

TSMC and Tencent have both secured spots within the top 100 of the Fortune Global 500 list, reflecting Asia's significant growth driven by the artificial intelligence boom.

Tencent is reportedly in discussions to purchase Playtika's SuperPlay for as much as $1.5 billion, according to recent reports, indicating a potential major acquisition in the gaming industry.

Subdivisions of Chinese tech giants Alibaba, Baidu, and Tencent reportedly gained access to advanced artificial intelligence technology from American companies OpenAI and Google in Singapore, despite being on a blacklist.

Sources indicate that Chinese tech giant Tencent is currently engaged in discussions to acquire a controlling stake, potentially becoming the largest shareholder, in the artificial intelligence startup Manus.

Kuaishou Technology's shares dropped over 6 percent after Tencent Holdings reduced its stake in the short-video platform by selling 273 million Class B shares. This divestment occurred just days after Tencent led a US$3 billion financing round for Kuaishou.

Chinese tech giants Alibaba and Tencent are among the backers of Kuaishou's Kling AI, contributing to a substantial $2.8 billion fundraise for the artificial intelligence initiative.

Billboard China, Billboard Korea, and Tencent Music have revealed the winners of their cross-market K-Artists Initiative, with projects by SEVENTEEN, i-dle, THE8, and NINGNING winning fan votes across four categories.

China's CXMT has reportedly signed a DRAM supply agreement with Tencent worth over $3 billion. This significant deal highlights a major collaboration in the memory chip sector.

Tencent is reportedly testing a DeepSeek-powered AI agent for its WeChat Corporate App.

Tech investor Prosus has reported a rise in revenue, attributing the growth to strong performance across its diverse business portfolio and its stake in Tencent.

Tencent is reportedly marketing a new bond offering with the aim of raising up to $4.5 billion, according to recent reports.

China is changing its AI strategy from application to fundamental research, aiming for general artificial intelligence (AGI), led by a former OpenAI researcher at Tencent. This shift mirrors the US approach.

The construction of numerous new data centers around Milan is raising alarms among activists regarding their potential impact on the environment and water resources, with a lack of reliable data on their exact burden.

The president of Tencent Healthcare stated that smaller biotechnology companies are more agile in adopting artificial intelligence technologies compared to their larger counterparts.

China's Tencent announced a move to allow PayPal payments through its WeChat networks, aiming to enhance convenience for tourists.

IDG Capital, an investment firm backed by Tencent, is reportedly aiming to raise a new $2 billion growth fund to support its investment activities.

Despite the Trump administration's approval for Nvidia to sell its H200 chips to major Chinese tech companies like Alibaba and Tencent, Beijing has reportedly intervened to halt these deliveries.

Tencent Holdings reported first-quarter revenue below estimates, with CEO Pony Ma Huateng emphasizing the company's commitment to artificial intelligence as a key driver for future growth.

Tencent Music has reported $1.15 billion in Q1 revenue and is shifting towards a membership-based model that aims to offer more immersive music experiences beyond content subscriptions.

Tencent Music Entertainment has reported that it missed its first-quarter topline revenue estimates.

The Chinese stock market has gained almost a third in 2025, with opportunities beyond major players like Tencent and Alibaba, including companies like Trip.com, though the market remains complex for investors.

Tencent Holdings has launched its first flagship artificial intelligence model since former OpenAI researcher Yao Shunyu joined the company to spearhead its foundational AI development. The new model marks a significant step in the Chinese tech giant's AI strategy.

Tencent and Alibaba are reportedly in discussions to invest in DeepSeek, potentially valuing the company at over $20 billion.

Tencent Music Entertainment (TME) has been highlighted as an oversold stock that offers double-digit Return on Equity (ROE) growth, with an analysis explaining its potential.

Tencent Holdings has updated WeChat's content rules to prohibit non-human automated publishing, including content generated by artificial intelligence and scripts, amidst a surge in such technologies.

Tencent has announced plans to regulate financial content on its platforms, aiming to ensure compliance and responsible dissemination of financial information.

Tencent Cloud hosted an OpenClaw AI agent installation event in Singapore, drawing significant public interest and participation.

Investors are expressing anxiety over significant capital expenditure by Chinese tech giants Alibaba and Tencent on AI infrastructure.

Tencent plans to double its AI investments to $5.2 billion, responding to China's intense focus on AI development, dubbed the 'OpenClaw Frenzy'.

Analysts are expressing caution regarding Tencent Music due to signs of a slowdown in its subscription business.

Le géant chinois de l’internet a annoncé mercredi son intention d’intégrer des agents d’IA à son application, qui pourront effectuer des tâches concrètes, comme envoyer des courriels ou réserver des…

Tencent reported a 13% increase in its quarterly revenue, primarily attributed to strong performance in its gaming division and growing demand for its artificial intelligence services. This growth highlights the company's success in leveraging both established and emerging technology sectors.

Tencent has released its fourth-quarter financial results, providing an update on the company's performance during the period.

Tencent pledges higher AI investment in 2026 after chip curbs hit capex plans  Reuters

Ubisoft, undergoing restructuring, has appointed a former Tencent executive to head two of its new 'creative houses,' which are responsible for managing its main licenses.

Tencent is gaining momentum in the competitive race for agentic AI development in China, positioning itself ahead of rival Alibaba in this advanced AI sector.

A preview of Tencent Music Entertainment's earnings for the fourth quarter of 2025 is published, outlining anticipated financial outcomes.

Tencent has issued a denial regarding allegations of copying made by the creator of the viral AI agent OpenClaw, addressing intellectual property concerns surrounding the popular technology.

Tencent Moves to Bring OpenClaw AI Assistant Into WeChat  Caixin Global

Chinese AI start-up DeepSeek has partnered with Tencent Holdings and the University of Hong Kong to develop a new AI-based method aimed at improving the accuracy of three-dimensional design.

The Trump administration is reportedly debating whether to allow Tencent to retain its gaming stakes, according to the Financial Times.

Tencent's stock has snapped a streak of six consecutive sessions of losses, indicating a positive shift in its market performance.

Tencent has closed TiMi Montréal, the studio that employed Ashraf Ismail, the former creative director for Assassin's Creed Black Flag and Valhalla.

Chinese tech companies, including Tencent Holdings and AgiBot, are appointing millennials and Gen Z individuals as chief scientists to spearhead advanced research in AI and robotics.

Tencent Video has released the first creative materials for its upcoming animated series adaptation of the best-selling 'Warrior Cats' book series, with Rodrigo Blaas directing and A.C. Bradley as showrunner.

Tencent's pace of AI innovation is being questioned following its latest earnings report, which served as a litmus test for China's broader AI sector. Analysts are scrutinizing the company's performance and its implications for future AI development.

Chinese tech giant Tencent posted a revenue beat driven by accelerating games sales and AI-driven ads, even as an AI lab associated with the company continues to burn through cash.

The former lead architect of Alibaba Group Holding Ltd.'s flagship AI model has founded a new startup focused on building AI agents, securing significant backing from Tencent Holdings Ltd. and other Chinese venture capital firms.

Tencent Holdings Ltd.’s spending plans, particularly on artificial intelligence, will draw investor scrutiny as investors cool on lavish outlays in the sector.

Tencent's Lightspeed studio spent six years and hundreds of millions of dollars developing 'Last Sentinel' in an attempt to rival 'Grand Theft Auto', but the project ultimately failed.

Tencent Holdings is reallocating its venture capital investments from legacy internet assets to focus on China's leading artificial intelligence companies.

Chinese tech giants like Ant and Tencent are accelerating their adoption of AI agents for enterprise clients, unveiling new products at a top AI summit and intensifying domestic competition.

Tencent is reportedly seeking a significant stake in the AI startup Manus, following reports that Meta was compelled to unwind a $2 billion deal related to the same company.

Tencent has completed its inaugural deal for carbon-removal credits in a transaction conducted outside of China, marking a new step in its environmental initiatives.

Tencent Holdings is reportedly seeking to sell a stake worth up to $1.6 billion in the short-video platform Kuaishou Technology.

Alibaba and Tencent have been dropped by their DC lobbyists to comply with a new US law that bars the Defense Department from working with companies represented by lobbyists who also work for Pentagon-blacklisted entities.

Tencent is currently trialing its TenPayGo Pay app, a new payment solution aimed at accommodating the increasing number of foreign visitors to China.

Tencent is reportedly exploring options to divest from several game studios, including Marvelous.

Microsoft has established a billion-dollar AI business in China, selling OpenAI's GPT models through Azure to major firms like ByteDance, Tencent, Ant Group, and Meituan. This growth occurs even as OpenAI and Anthropic refrain from direct sales in the region, and despite U.S. concerns about the market.

Tencent Cloud is increasing its presence in South Korea, viewing the country as a key market for artificial intelligence and gaming, as local companies seek cloud infrastructure for global expansion.

Tencent is currently marketing bonds with the potential to raise up to $4.5 billion, as reported by Bloomberg.com.

Yao Shunyu, Tencent Holdings’ chief AI scientist, has dismissed concerns about the tech giant's pace in AI development, stating that the AI race is a long-term game with significant untapped opportunities.

Tencent has introduced upgrades to its inbound payment services, including the addition of PayPal QR code support, enhancing convenience for international transactions.

According to Tencent Healthcare President, smaller biotech companies are more agile in adopting artificial intelligence technologies compared to their larger counterparts.

Tencent has established a link between PayPal and its WeChat Pay network, allowing users in the United States to make payments across China.

ARKIE AI has announced a partnership with Tencent Cloud to support the development of a scalable AI platform. This collaboration aims to enhance AI capabilities and infrastructure.

Tencent and Nexon have solidified their long-term ties by extending their Dungeon & Fighter partnership for another decade.

Major Chinese tech companies like Tencent and Alibaba are reportedly being left behind in the current AI stock market frenzy. Investors are instead focusing on companies purely dedicated to artificial intelligence.

Tencent Music Entertainment (TME) shares saw gains even after missing earnings expectations, attributed to accelerated growth in its music services.

Chinese tech giants Tencent and Alibaba are reportedly facing slowing growth, attributed to the increasing costs associated with their investments in artificial intelligence.

An EU legal advisor has indicated potential approval for Italy's controversial plans to establish migrant processing centers in Albania.

Chinese company DeepSeek is reportedly looking to attract external investors, including tech giants Alibaba and Tencent, to fuel its growth and expansion.

Chinese tech giant Tencent has made an investment in Kaspi.kz, a prominent fintech company based in Kazakhstan, expanding its global portfolio.

Seit der Tulpenkrise in Amsterdam wissen wir: Gier ist kein guter Ratgeber. Wenn im Gartencenter die Ehefrauen mit Einkaufswägen voller blühender Sträucher Schlange stehen, während sich die Ehemänner…

Analysts are expressing bullish sentiments on several communication services stocks, specifically highlighting Tencent Holdings and Meta Platforms.

Analysts and investors are evaluating Tencent Music Entertainment (TME) following its recent earnings report, assessing its performance and future outlook.

Mizuho has reiterated its 'Outperform' rating for Tencent Music (TME), signaling continued confidence in the company's stock performance.

Alibaba, Tencent Shares Lose $66 Billion as AI Vision Falls Flat  Bloomberg.com

Tencent has reported an earnings beat, indicating strong financial performance as the company intensifies its efforts and investments in artificial intelligence development.

Tencent's fourth-quarter revenues saw a rise of approximately 14% year-over-year from Value Added Services (VAS) and a 17.5% increase in marketing services.

Tencent reported better-than-expected revenue for the fourth quarter, with growth primarily fueled by its marketing and gaming divisions.

Chinese tech giant Tencent has announced a 16% increase in its annual net profit, driven by strong revenue growth from gaming and increased investment in artificial intelligence.

Tencent Music's stock experienced a significant decline today, prompting questions and analysis regarding the factors contributing to its tumbling performance.

Tencent Music announced a strong profit for the fourth quarter but also indicated a shift in its key performance metrics.

Alibaba Debuts OpenClaw App to Feed China’s Agentic AI Addiction  Bloomberg.com

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Mobile game developer Supercell is cooperating with a US security probe targeting its parent company, Tencent.

The Trump administration is considering allowing Chinese company Tencent to maintain its investments in US gaming companies like Epic Games, following a long-running security review.

A brokerage firm backed by Tencent is planning to expand its operations within Japan's options market.

Hong Kong’s tech equity benchmark is struggling to balance the artificial intelligence frenzy and picking the right industry leaders, leading to its underperformance this year, according to analysts. The Hang Seng Tech Index, which comprises 30 technology-related companies including Tencent Holdings, Alibaba Group Holding and Meituan, has fallen 5.5 per cent this year up to Friday, giving up some of last year’s 23.5 per cent gains. In contrast, the broad-based Hang Seng Index has risen 0.3 pe...

A report indicates that Tencent was quietly providing financial backing to Highguard Studio, known for its free-to-play PvP 'raid shooter'.

CXMT Corp. has surpassed Tencent Holdings Ltd. to become the most valuable Chinese company, a shift attributed to the AI-driven surge in demand for memory-chip stocks.

Tencent Holdings announced its Q2 earnings, with Value Added Services (VAS) revenue reaching RMB 98.4 billion, marking a 7.7% year-over-year increase. The company also reported a significant 21.8% year-over-year growth in online advertising revenue.

Tencent reported an 11% increase in its second-quarter revenue, boosted by AI-driven advertising gains, although the company's profit fell short of expectations.

Multiple companies, including Greystone Housing Impact, Elbit Systems, and Tencent Music Entertainment, have announced their Q2 2026 earnings previews. Other companies like Geodrill and AG Mortgage Investment Trust have released highlights from their Q2 earnings calls.

The US's approach to hoarding GPUs is met with skepticism as China scales its AI markets, with Tencent's Hy3 model integrated into its global AI workspace.

K-pop girl group I-dle was named the best group of the first half of the year by China's Tencent Music Entertainment, with their single "Mono (feat. skaiwater)" also recognized as a top song.

Chinese tech giant Tencent Holdings has dismissed a manager from its WeChat division after details of his multimillion-yuan bonus package were leaked online, causing widespread discussion on social media.

Tencent is reportedly looking into a significant investment in the AI startup Manus, with implications for TCEHY stock.

A review indicates that Tencent's WeChat AI agent is demonstrating promise in the competitive landscape of super-apps.

Tech giant Meta is constructing a massive AI data center in a rural, impoverished region of Louisiana, bringing significant investment but also raising concerns among local residents about its long-term environmental and social impact.

Kuaishou shares experienced a decline following news that Tencent participated in a $2.8 billion funding round for Kling AI, a Kuaishou subsidiary.

Tencent is significantly increasing its share buyback program as a prolonged share rout has wiped out an estimated $309 billion from the company's market value.

A commentary suggests that Tencent's WeChat has the potential to evolve into China's dominant AI application, potentially avoiding the need to build a new 'killer AI app' from scratch.

Chinese tech giant Tencent is reportedly exploring options to sell its stakes in several international game studios, including Marvelous Inc., as it re-evaluates its investment strategy.

Tencent Music is recognized as a leading value stock currently trading under $10, presenting an attractive investment opportunity.

Tencent Music and CSL are identified among several global large-cap companies exhibiting persistent bearish Quant signals, indicating potential negative trends in their stock performance.

Chinese tech giant Tencent has successfully raised $4.66 billion through a dual-currency bond deal. This significant financial move indicates the company's strategy for capital acquisition in international markets.

Tencent's Chief AI Scientist, Yao Shunyu, who joined from OpenAI, announced his goal to pursue artificial general intelligence, signaling a potential shift in China's AI development strategy towards the US path.

The Black Label, led by producer Teddy Park, announced the completion of its Series B funding round on May 20, with key investors including Tencent Music Entertainment, to accelerate its global expansion.

Chinese tech companies like Alibaba and Tencent are increasingly deploying artificial intelligence models into robots, moving the generative AI battleground from digital chatbots to physical autonomous systems.

Liu Wei, former head of Tencent's Hunyuan team, suggests that while China may be lagging in the LLM race, it still has the potential to succeed in the broader field of artificial intelligence.

A report on top global stories this week highlights major names including Chinese tech giants Alibaba and Tencent.

Tencent Music has detailed its plans for copyright enforcement and integration with WeChat Channels, amidst increasing competitive pressure in the market.

Ryt Bank in Malaysia has chosen Tencent Cloud to power its conversational banking services. This partnership aims to enhance the bank's customer interaction through advanced cloud technology.

Alibaba's shares are outperforming those of Tencent, with its exposure to the chip sector reportedly fueling increased demand for the company's stock.

Tencent has unveiled a new artificial intelligence model, marking a high-stakes test for a recent hire from OpenAI.

Tencent and Alibaba are reportedly in discussions to invest in DeepSeek, potentially valuing the company at over $20 billion, according to The Information.

Kaspi.kz announced that Tencent, along with co-founder Mikheil Lomtadze and long-term institutional investors, has made an investment in the company.

Alibaba has reportedly launched a new artificial intelligence model specifically designed for games and video development. This strategic move aims to enhance its capabilities and challenge competitors in the AI sector.

Russia is developing its Max messaging app using Chinese tech giants Tencent's WeChat and TikTok's sister app Douyin as key models, according to VK CEO Vladimir Kiriyenko.

China's most popular online streaming platform, Tencent Video, has launched a new channel specifically designed to keep pets company or be watched by animals and humans together.

The performance of the MCHI ETF in 2026 will be significantly determined by Tencent's 16% weighting within the fund and the ongoing tariff cycle.

Tencent has undertaken a significant overhaul of its artificial intelligence division, integrating its AI Lab into the Hunyuan team.

A Seeking Alpha analyst report has provided updated ratings, including upgrades and downgrades, for several companies including CrowdStrike, Tencent Music, Uber, and ARM Holdings.

Tencent is set to launch its Hunyuan 3.0 AI model in April and will also build a WeChat AI Agent, expanding its artificial intelligence capabilities.

Tencent has asserted that it faces fewer regulatory risks in the United States compared to TikTok, differentiating its operational challenges.

Tencent reports revenue that surpasses expectations for 2025, attributing its strong core business to its ability to significantly increase investments in artificial intelligence.

Tencent Holdings reported a 17 percent jump in net income for the fourth quarter of 2025, meeting analyst expectations, as the artificial intelligence boom continues to reshape the global economy.

Tencent Music Entertainment Group's stock plunged today following an earnings miss and concerns raised by users, impacting its market performance.

Here are some of the stocks making big headlines in midday trading.

Tencent Music Entertainment announced non-GAAP EPADS of $0.23, meeting expectations, while its revenue of $1.24 billion surpassed analyst estimates by $20 million.

Autonomous driving company Pony.ai has announced an expansion of its partnership with Chinese tech giant Tencent, deepening their collaboration in the technology sector.

Shares of Tencent and Zhipu have seen a significant increase following the launch of their new AI agents, which are reportedly leveraging the OpenClaw technology, indicating investor confidence in their AI advancements.

Tencent is said to be re-engaging with fresh funding for a potential deal between Paramount and Warner Bros., indicating renewed interest in the media merger.

President Trump's administration is currently debating whether to allow Chinese megacorp Tencent's stakes in major U.S.

Alibaba, Baidu, ByteDance, and Tencent collectively spent an estimated US$1.1 billion on an AI-powered marketing blitz during Chinese New Year to promote their artificial intelligence assistants.

Digital brokerage Moomoo Securities Japan plans to boost single-stock options for Japanese equities to capitalize on growing demand from the retail investors.

On a crisp January afternoon, the Shenzhen Bay Sports Centre, just a stone’s throw from Tencent Holdings’ headquarters, was packed with employees gathering for a party featuring celebrity cameos and prizes. But before the fun started, they witnessed a round of sober self-reflection from their low-profile leader. The New Year address by co-founder, chairman and CEO Pony Ma Huateng is an annual tradition for the social media and video gaming giant, offering its 115,000 employees rare insight in...

Futures, Global Markets Rise With US Markets Closed For President's Day Stocks gained, bitcoin tumbled and bonds steadied after Friday's cool CPI data reinforced expectations that the Fed will cut interest rates on multiple occasions this year. With US markets closed for the Presidents’ Day holiday and mainland China’s markets closed for Lunar New Year holidays, trading was muted on Monday. As of 9:00am ET, futures on the S&P 500 added 0.4% and Europe’s Stoxx 600 index rose 0.4% as banking shares rebounded from a sharp decline last week. German bunds and Treasury futures were steady after US yields touched the lowest since December on Friday. The path of US interest rates remains in focus following Friday’s slower-than-expected US inflation print as traders fully price a Fed cut in July and the strong chance of a move in June.   “The backdrop for equities is positive post CPI,” said Andrea Gabellone, head of global equities at KBC Securities. At the same time, there could be “more dispersion ahead as sentiment around key AI-exposed sectors is still very critical,” he added.  That sentiment was echoed by other strategists seeking to distinguish between AI losers and winners. A JPMorgan Chase & Co. team led by Mislav Matejka urged caution on stocks at risk of AI-driven “cannibalization,” including software, business services and media companies. Meanwhile, banks are developing baskets to capitalize on the divergence: as we first reported last Thursday, Goldman launched a new basket of software stocks that goes long firms that will benefit from AI adoption, while shorting the companies whose workflows could be replaced. With AI disruption rippling through markets, a lot will come down to earnings resilience, in particular in the US.  “When you look at the current earnings season, the companies are showing 13% of growth,” Nataliia Lipikhina, head of EMEA equity strategy at JPMorgan, told Bloomberg TV. “Overall, this is the reason why we continue to be positive on the S&P.” Later this week, traders will be watching for ADP private payrolls numbers on Tuesday and the minutes from the Fed’s January meeting on Wednesday for a fresh read on the economy. European stocks gained with bank shares rebounding, after posting their biggest weekly decline since April on worries about disruption from artificial intelligence. The basic resources sector lags, with Norsk Hydro among Europe’s worst performers as both Goldman Sachs and RBC downgrade the stock. Stoxx 600 rises 0.4% to 620.26 with 253 members down, 336 up, and 11 unchanged. Here are some of the biggest movers on Monday:  NatWest shares rise as much as 4%, the most since October, as Citi analyst Andrew Coombs raises his price target on the UK bank to a Street-high. Seraphim Space shares rise as much as 9.2%, briefly hitting a new all-time high, after the space tech investment firm said the valuations of its four largest holdings increased over the final months of 2025. AECI shares rally as much as 6.1%, the most since July, after the South African commercial-explosives maker shared improved 2025 headline earnings per share guidance. Orsted shares rise as much as 3.8% after analysts at Kepler raise the recommendation to buy from hold over the Danish renewable energy firm’s outlook, despite ongoing uncertainty for the industry in the US. Norsk Hydro shares fall as much as 4.4%, extending Friday’s 5.9% earnings-triggered drop, after being downgraded at Goldman Sachs and RBC over disappointments and pricing pressures in the Norwegian aluminum company’s downstream business. Galderma shares slip as much as 2.2% after naming Luigi La Corte as its new chief financial officer following the news back in July that Thomas Dittrich was departing. Pinewood Technologies shares tumble as much as 32%, the most since April 2024, after Apax Partners said on Friday it will not proceed with a possible cash offer for the car dealership software provider. FlatexDEGIRO shares drop as much as 7.2% after BNP Paribas downgraded the online brokerage firm to neutral from outperform, saying the price reflects too much optimism about its market position in Germany. Maurel & Prom shares slump as much as 12%, pulling back after ending last week at a 2015-high, after announcing it is not currently authorized to resume oil and gas operations in Venezuela. Barratt Redrow shares fall as much as 3.7%, leading a drop in British homebuilders after Rightmove said house prices are stalling. Asian stocks slipped for a second day, led by declines in Japan as traders booked profits after last week’s post-election rally. Several markets were closed or held shortened trading sessions for the Lunar New Year holiday. The MSCI Asia Pacific Index was down 0.1%. Japan’s Topix Index fell 0.8%, with Mizuho Financial Group Inc. and Toyota Motor Corp. among the companies contributing to the index’s losses.In Hong Kong, AI model developer Minimax Group Inc. surged as much as 30% to more than four times its original listing price, while competitor Knowledge Atlas JSC Ltd. ended 4.7% higher. The market will be closed until Thursday. As investors across the region begin to reevaluate their bets on its artificial-intelligence-driven rally, traders in Japan cashed in gains driven by expectations of Prime Minister Sanae Takaichi’s proactive spending policies last week.Trading in Singapore ended early Monday and will be shut until Wednesday. Equity markets in mainland China, South Korea, Indonesia and Vietnam were closed.  In FX, the yen is the notable mover in currencies, weakening 0.5% against the dollar and pushing USD/JPY back above 153. The offshore yuan is one of the better performers against the greenback. The Bloomberg Dollar Spot Index rises 0.1%. There is no cash trading in Treasuries due to the Presidents’ Day holiday. European government bonds are little changed In commdities, gold dipped below $5,000 an ounce, as traders booked profits from a gain in the previous session. Bitcoin tried anf ailed to stage a modest rebound; it last traded around $68,275 after posting its fourth consecutive weekly loss, with the cryptocurrency struggling to find clear direction as a weekend rally fizzled once the momentum ignition algos emerged.  WTI crude futures tread water near $62.90 a barrel.  Top Headlines President Trump said there will be voter ID rules in the mid-term elections this year, whether Congress approves it or not, and they will present a legal argument in an Executive Order. Furthermore, Trump said he has searched the depths of legal arguments not yet articulated nor vetted on this subject, and they will be presenting an irrefutable one in the very near future. Iran says potential energy, mining and aircraft deals on table in talks with US: RTRS Pentagon threatened to cut its ties with Anthropic over the company’s insistence that some limitations are kept on how the military uses its AI models: RTRS UK eyes rapid ban on social media for under 16s, curbs to AI chatbots: RTRS Rampant AI Demand for Memory Is Fueling a Growing Chip Crisis: BBG Warner Bros. Weighs Reopening Sale Negotiations With Paramount: BBG Companies Are Replacing CEOs in Record Numbers—and They’re Getting Younger: WSJ Europe aims to rely less on US defence after Trump's Greenland push: RTRS DOJ Tells Lawmakers Epstein File Redactions Complied With LawL BBG For College Applicants, Pressure to Make Summers Count Has Gotten Even Worse: WSJ Fed's Goolsbee (2027 voter) said on Friday that they are still seeing pretty high services inflation, and he hopes they have seen the peak impact of tariffs, while he added that the job market has been steady, with only modest cooling.  The Break Is Over. Companies Are Jacking Up Prices Again: WSJ Trade/Tariffs USTR Greer said the US and Ecuador expect to sign a trade agreement in the coming weeks. China will waive import value-added taxes on selected seeds, genetic resources, and police dogs through to 2030 to increase agricultural competitiveness and breeding capacity. It was also reported that China will grant zero-tariff access to 53 African nations from May 1st, according to Bloomberg. Chinese Foreign Minister Wang Yi told his French and German counterparts that China and the EU are partners, not rivals, while he added that China and the EU should manage differences, deepen practical cooperation and work together on global challenges. A more detailed look at global markets courtesy of Newsquawk APAC stocks began the week in the green but with gains limited following a lack of major fresh catalysts from over the weekend and amid thinned conditions owing to holiday closures in the region and North America. ASX 200 traded marginally higher with upside led by tech, although gains are capped by underperformance in the utilities, mining, materials and resources sectors, while participants also digested a slew of earnings releases. Nikkei 225 traded indecisively with the index constrained by disappointing Japanese preliminary Q4 GDP data, which showed the economy returned to growth but failed to meet expectations with GDP Q/Q at 0.1% (exp. 0.4%), and annualised GDP at 0.2% (exp. 1.6%). Hang Seng finished higher in a shortened trading session on Chinese New Year's Eve but with upside limited by tech weakness amid some confusion after the Pentagon added several companies including Baidu, Cosco, BYD, Huawei, Nio, SMIC, Tencent, and more to a list of Chinese firms aiding the military on Friday, but then withdrew the updated list shortly after it was posted. Furthermore, price action was also restricted by the closure of mainland markets and the absence of stock connect flows, which will remain shut for more than a week. US equity futures kept afloat in quiet trade amid the absence of drivers and participants. European equity futures indicate a mildly positive cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with losses of 0.4% on Friday. Asian Headlines Chinese President Xi called for the anchoring of economic growth around domestic demand as its main driver, in a speech during a key policy meeting late last year that was released on Sunday. China is to establish a permanent financial support framework to promote rural revitalisation and prevent a slide back into poverty, which represents a shift from transitional aid to long-term support. China’s market regulator summoned major online platform companies on Friday, including Alibaba, Douyin and Meituan, while it directed them to comply with laws and regulations, and rein in promotional practices, according to Bloomberg. US Secretary of State Rubio and Japanese Foreign Minister Motegi reaffirmed their commitment to deepen bilateral ties. Disney (DIS) sent a ‘cease and desist’ letter to ByteDance over Seedance 2.0 and alleged that ByteDance has been infringing on its IP to train and develop an AI video generation model without compensation, according to Axios. It was later reported that ByteDance said it would curb its AI video app following Disney's legal threats, according to the BBC. RBI tightened rules for loans provided to brokers and proprietary firms in an effort to reduce market speculation FX DXY eked slight gains in rangebound trade after a lack of major catalysts and with US participants away on Monday. EUR/USD was little changed amid the absence of any major macro catalysts and with light newsflow from the bloc, while comments from ECB President Lagarde and news that the ECB is to make its repo backstop available to other central banks across the world, did little to spur price action. GBP/USD held on to most of Friday's spoils but with price action contained by resistance around 1.3650 and following comments from BoE's Mann that the UK economy is sluggish and tepid, with consumers spending less due to being scarred by high inflation. USD/JPY edged higher and returned to above the 153.00 level in the aftermath of the weaker-than-expected preliminary Q4 GDP data for Japan. Antipodeans were mixed with little fresh macro drivers and a lack of tier-1 data from either side of the Tasman. Fixed Income 10yr UST futures traded little changed and held on to last week's spoils after returning above the 113.00 level in the aftermath of the softer US inflation data, while price action was contained to start the week by the closure of US cash markets for Washington's Birthday. Bund futures lacked demand in the absence of any major catalysts and with light newsflow from the bloc. 10yr JGB futures were marginally higher following disappointing preliminary GDP data for Q4, but with gains limited after failing to sustain a brief reclaim of the 132.00 level. Commodities Crude futures were rangebound amid light energy-specific newsflow from over the weekend and after last Friday's indecisive performance, where attention was on a source report that noted OPEC+ is leaning towards resuming oil output hikes from April, but with no decision made. Slovak PM Fico said he has information that the Druzhba pipeline has been fixed after damage in Ukraine, although he believes that supplies to Hungary and Slovakia have become a part of political blackmail. Spot gold took a breather after edging higher in the aftermath of the recent softer-than-expected US inflation data, with price action also contained by the holiday closures across Asia and North America. Copper futures were subdued, with their largest buyer away for more than a week due to the Chinese New Year/Spring Festival holiday. Texas venture-backed startup Hertha Metal vowed mass production of steel with 25% cost savings, which could reduce US reliance on imports. Geopolitics: Middle East US military is preparing for potential operations against Iran that could last for weeks if US President Trump orders an attack and the US fully expects Iran to retaliate, according to sources cited by Reuters. US President Trump told Israeli PM Netanyahu during a meeting in December that he would support Israel striking Iran’s ballistic missile program if the US and Iran are not able to reach a deal, according to CBS. Iran confirmed that indirect talks between the US and Iran will resume in Geneva on Tuesday under the mediation of Oman, while Iranian Foreign Minister Araghchi left for Geneva on Sunday. Iranian diplomat said Iran is open to nuclear deal compromises if the US discusses lifting sanctions, while it was also reported that Iran said potential energy, mining and aircraft deals are on the table in talks with the US. Israel’s cabinet approved the proposal to register West Bank lands as ‘state property’, while Palestinians condemned the ‘de facto annexation’ which Peace Now said likely amounts to a ‘mega land grab’. Geopolitics: Ukraine US President Trump said on Friday that Ukrainian President Zelensky is going to have to get moving and that Russia wants to get a deal. US Secretary of State Rubio said they don’t know if Russia is serious about finding an end to the war in Ukraine and will continue to test it, while it was reported that he met with Ukrainian President Zelensky on security and deepening defence and economic partnerships. Ukrainian drones targeted Russia’s Taman seaport and fuel tanks in the Black Sea region. UK and European allies were reported on Friday to be weighing seizing Russian shadow fleet ships and tightening curbs on Russia's economy. French Foreign Minister Barrot said some G7 nations have expressed a willingness to proceed with a maritime services ban on Russian oil, which they hope to include in the 20th sanctions package that they are actively preparing. Geopolitics: Other European Commission President von der Leyen said that they face the very distinct threat of outside forces trying to weaken their union, while she added that mutual defence is not an optional task for the European Union; it is an obligation within their own treaty, and it is their collective commitment to stand by each other in case of aggression. Pentagon said the US military struck an alleged drug cartel boat in the Caribbean, which killed three people. DB's Jim Reid concludes the overnigt wrap I hope you all had a good weekend. To stay in Winter Olympics mood the family watched "Cool Runnings" last night. I haven't seen it for 32 years. Please don't tell anyone but I had a few tears in my eyes at the end. I blamed it on the hay fever that has now started. There will be a lot of tears out there in markets for other reasons at the moment. Just two weeks ago, the idea of AI-driven disruption still felt like an abstract, almost academic thought experiment—something we could safely revisit once we had clearer evidence of how AI would be deployed and integrated across the economy. Fast forward 14 days, and markets have wiped out well over a trillion dollars of global equity value on the fear that AI could fundamentally reshape business models and compress profitability across a wide range of industries, including software, legal services, IT consulting, wealth management, logistics, insurance, real estate brokerage and commercial real estate. Some of the sell off in “old economy” sectors feels overdone to me. But as I argued in our 2026 World Outlook back in November, the real challenge is that even by the end of this year we still won’t have enough evidence to identify the structural winners and losers with confidence. That leaves plenty of room for investors’ imaginations—both optimistic and pessimistic—to run wild. As such big sentiment swings will continue to be the order of the day. My instinct is that the reaction in things like commercial real estate, for example, has been particularly exaggerated. Markets seem to be extrapolating a scenario in which vast numbers of white collar workers are made redundant almost overnight, leading to a dramatic collapse in office demand. If that view turns out to be correct, we’ll be facing societal challenges far larger than anything currently being priced into equities. While trying to catch a falling knife may be too risky for many, beginning to cushion the descent could be sensible in many old economy sectors. Markets can’t sustain a disruption narrative across multiple sectors for months or quarters without concrete evidence — and that evidence is likely to take much longer to emerge. Fascinating times. As for this week, today is a US holiday but inflation will remain in the spotlight at a global level after Friday's slightly softer US CPI which helped contribute to a decent rates rally to end the week. Prints are due in the US (PCE - Friday), the UK (Wednesday), Canada (Tuesday) and Japan (Friday). Other economic highlights will include the FOMC minutes (Wednesday), Q4 GDP in the US (Friday), as well as the global flash PMIs (Friday). Earnings reports will feature Walmart (Thursday), Nestlé (Thursday) and BHP (today). It's the earnings calm before next week's Nvidia storm. In the US, this holiday shortened week (President's Day today) features a data calendar dominated by releases that were pushed back by last year’s government shutdown. The most consequential updates will land on Friday, when the advance estimate of Q4 GDP arrives alongside December’s personal income and consumption figures—key inputs for shaping expectations for the early part of this year. For markets assessing the underlying pulse of demand heading into 2026, private final sales to domestic purchasers (PFDP) will carry more weight than the headline GDP print. This indicator—closely monitored by Fed Chair Powell—is expected by our economists to slow to 2.0% from 2.9% in Q3, though risks appear tilted upward. One swing factor: Wednesday’s durable goods report, where modest gains outside of transportation could soften the deceleration. On the consumer front, real PCE growth is expected to cool to 2.5% after two quarters of outsized strength but should still signal ample momentum heading into the new year. Friday’s income and spending report will also offer the latest reading on core PCE, the Fed’s preferred inflation gauge. Our economists expect another 0.4% monthly increase for December, lifting the year over year rate to 2.9%. Updated seasonal factors from last week’s CPI release suggest some mild downward pressure on inflation trends in the second half of 2025. Still, January’s CPI data, although softer than we anticipated, do not translate into equivalent relief for core PCE—in fact, our team currently sees another 0.4% gain for January's release (delayed until March 13th). Depending on the strength of medical services, airfare, and portfolio management components in the upcoming PPI report, a 0.5% monthly rise cannot be ruled out, which would push the year over year rate toward 3.1%. So don't get too excited about the softer CPI last week and the huge rates rally. Additional releases this week will help clarify whether recent severe winter weather has disrupted factory sector activity. January industrial production, due Wednesday, should benefit from a jump in utility output, while weather effects may weigh on the Empire State Survey tomorrow and the Philadelphia Fed survey on Thursday. Labor market data will also be in focus, particularly Thursday’s jobless claims, which line up with the survey week for the February employment report. As our economists have pointed out, private nonfarm job gains have averaged 103k over the past three months, slightly above the pace at this point in 2025 and matching the start of 2024. See their latest US employment chartbook here. This week will also feature a dense lineup of Federal Reserve speakers which you can see alongside all the key global data in the day-by-day week ahead calendar at the end as usual. Moving away from the US, inflation will also be in focus in Japan (Friday) and Canada (tomorrow). For the former, our Chief Japan Economist sees the January nationwide CPI showing a slowdown in both core CPI inflation ex. fresh food to 2.1% YoY (+2.4% in December) and core-core CPI inflation ex. fresh food and energy to 2.7% (+2.9%). Also important will be the global flash PMIs due on Friday as a health check on global growth. In Europe, the spotlight will be on UK inflation (Wednesday), with labour market data due tomorrow and retail sales on Friday. Our UK economist expects headline CPI inflation to drop to 3.0% YoY (3.4% in December) and core CPI also landing at 3.0% YoY (3.2% YoY). See more in his full preview here. In terms of key rate decisions, the RBNZ are expected to remain on hold on Wednesday. Finally, the Munich Security Conference wrapped up over the weekend, where key topics included Ukraine, Russia, and the fate of Greenland. And while US Secretary of State Marco Rubio’s speech was nothing like Vice President JD Vance’s at last year’s conference, which triggered a “wake-up” call for European leaders, Rubio reiterated the administration’s view that Europe needed to leave behind its focus on energy policies, trade and mass migration. Recapping last week now, the tech volatility that has dogged markets since the start of the month broadened into a far more indiscriminate sell-off. The trough came on Thursday, marked by a sharp drop in software stocks, but the weakness extended well beyond tech. Companies across wealth management, real estate and financials suffered double digit declines, underscoring how widespread the pullback has become. Market breadth confirmed this shift as the equal weighted S&P 500 fell -1.37% on Thursday, though it managed to finish the week up +0.29% (+1.04% on Friday). Ultimately, the sell-off left the major US indices on the back foot: the S&P 500 slipped -1.39% (+0.05% on Friday), the Nasdaq lost -2.10% (-0.22% on Friday), and the Magnificent 7 slid -3.24% (-1.11% on Friday). Although the AI scare dominated sentiment, a heavy slate of US data also shaped the market narrative. Early in the week, softer prints—including flat December retail sales, a dovish Q4 Employment Cost Index, and slower Q4 growth expectations from the Atlanta Fed—pushed Treasury yields lower across the curve. That picture shifted midweek after a stronger than expected January jobs report, which delivered the largest gain in nonfarm payrolls (+130k vs. +65k expected) since December 2024 and reinforced confidence that the US economy carried solid momentum into 2026. Then on Friday, January CPI came in below expectations, adding another dovish note. Although the data offered mixed signals at times, the overall takeaway was sufficiently dovish for traders to increase the number of expected rate cuts by December 2026 to 63.4bps (+7.7bps on the week). This helped drive the largest weekly drop in the 10 year Treasury yield since August 2025, down -15.8bps (-5.0bps on Friday) to 4.05%. The 2 year yield also moved sharply lower, falling -8.9bps to 3.41% (-4.8bps on Friday), its lowest level since 2022. European markets, meanwhile, delivered a comparatively resilient performance. The STOXX 600 (+0.09%, -0.13% Friday), DAX (+0.78%, +0.25% Friday) and FTSE 100 (+0.74%, +0.42% Friday) all posted modest gains for the week. European sovereign bonds rallied as well, with the 10 year bund yield dropping -8.7bps—its steepest weekly decline since April 2025. That move was outpaced by gilts, which fell -9.8bps (-3.6bps on Friday) despite a sharp early week sell-off triggered by renewed questions surrounding Prime Minister Keir Starmer’s position. Elsewhere, performance was mixed. Brent crude edged down -0.44% (+0.34% on Friday), while gold extended its upward run, rising +1.56% (+2.43% on Friday). Will London’s half term week finally give us a quiet week in 2026? You’d probably have to guess at ‘unlikely’. Tyler Durden Mon, 02/16/2026 - 09:40