Daily Buzz: 10 February 2026

Tech Stocks Keep Fueling Global Rallies

Japan's Nikkei 225 index surged 3.89 percent to a record after Prime Minister Sanae Takaichi's Liberal Democratic Party won a landslide in parliamentary elections. But it was technology, not politics, feeding a wave of global rallies that began in Asia and extended through to New York on Monday. The strong gains came despite some lingering investor concerns about the unprecedented US$600 billion major AI companies have committed to capital spending this year.

In New York, strong gains by chipmakers Nvidia and AMD helped lift the tech-heavy Nasdaq to a 1 percent gain. Nvidia closed up 2.5 percent and AMD rose 3.3 percent. Morgan Stanley equity strategist Michael Wilson said US technology stocks still have room to grow, thanks to revenue growth expectations for the biggest tech stocks that have reached "multi-decade highs." The Stoxx600 index in Europe rose 0.7 percent.

Earlier in Asia, Chinese and South Korean stocks posted strong gains. South Korea's Kospi surged 4 percent, led by the nation's two biggest chipmakers. SK Hynix rose 5.7 percent and Samsung Electronics gained nearly 5 percent. The Hang Seng Tech sub-index in Hong Kong rose 1.3 percent, with mainland tech companies Alibaba rising 1.9 percent, Tencent up 2.3 percent, Baidu adding 3.2 percent and Semiconductor Manufacturing surging 4.7 percent. The Shanghai Composite Index rose 1.4 percent, with chipmakers Cambricon up 4.8 percent and MetaX gaining 3.8 percent. Mainland shares were given a boost by tech giant ByteDance rolling out Seedance 2.0, a new generation model that can cinematic, multi-camera videos from text in under a minute.

Chinese Tech Brands Tap Global Sports Opportunities

The US Super Bowl, the premier sporting event in American football, is as famous for its ads as its grid action, and Suzhou-based Dreame Technology seized the opportunity to promote its products to a global viewing audience of about 120 million. The company aired a 30-second commercial, costing a reported US$10 million, to show off its robotic vacuum cleaners and lawnmowers, and its new concept electric supercar. "This commercial isn't just about visibility; it's a statement of commitment," said Ana Wang, chief executive of Dreame North America. Robots developed by Dreame-backed MagicLab made their global debut as performers at the game.

Chinese firms have also stepped up their presence at the Winter Olympics now underway in Italy. Alibaba Cloud is providing an official large-language-model platform to support event operations across multiple national Olympic committees. Home appliances titan TCL is supplying hundreds of large-screen HDTVs, digital signage and light-emitting diode displays for broadcast operations, and Lenovo, Midea and Ledman Optoelectronic have also contributed technologies.

Top Business

Chip Maker Montage Surges in HK Debut

Shares in of Chinese chip designer Montage Technology surged 63 percent from their offer price in their trading debut in Hong Kong on Monday following a HK$7.04 billion (US$902 million) initial public offering. Montage makes data center memory interface chips enabling AI computer networks move data faster. The share sale was 700 times oversubscribed by retail investors and 38 times oversubscribed by international institutions. It was a secondary listing for Montage, whose shares are also traded in Shanghai, where the company is based. The strong debut follows a string of similarly successful IPOs by mainland technology companies last year and continuing into 2026, amid investor zeal for shares related to artificial intelligence development. The debut coincided with a 1.8 percent surge in Hong Kong's Hang Seng index.

Taiwan Rebuffs US Call for 40 Percent Shift in Chipmaking

Taiwan's top tariff negotiator Cheng Li-chiun said it would be impossible to shift 40 percent of the island province's chipmaking capacity to the US, rebuffing a suggestion from US Commerce Secretary Howard Lutnick, Reuters reported, citing an interview on CTS TV. She said Taiwan can expand production in the US but chipmaking will remain rooted on the island. Lutnick reiterated the 40 percent goal last month, saying, "You can't have all semiconductor manufacturing 80 miles from China. That's just illogical." Under a trade deal reached in January between Taipei and Washington, the US rolled back import tariffs on Taiwan to 15 percent in exchange for pledges of increased Taiwanese investment in the US.

Robots Take the Stage in Luna New Year Shows

China's Agibot hosted a robotics gala show that featured a cast of over 200 humanoid robots to celebrate the China Lunar New Year that begins on February 17. The show blended dance, comedy, magic, martial arts and fashion. The Waltz robot demonstrated unprecedented fluidity performing the eponymous dance. "Agibot night goes beyond a conventional product showcase and marks a milestone for humanoid robotics, demonstrating how embodied intelligence is moving from the laboratory into real-world social and cultural settings," said Qiu Heng, marketing director of the company. MagicLab and fellow robotics companies Unitree, Galbota and Noetix have confirmed their participation in the upcoming CCTV Spring Festival Gala, the most watched annual event on mainland television.

Economy & Markets

China Passenger Car Market Hit by Steep Price Cuts

Price-cutting in China's passenger car market last month was more severe thean the 2025 total, largely reflecting the government's halving of a tax exemption on new energy vehicles. The average discount on car prices in January was 37,000 yuan (US$5,330) per auto, the China Passenger Car Association reported. The price drops affected both electric and conventional combustion vehicles. The about 15 percent discounts on sticker prices in the month compared with an average 10.5 percent for 2025. Among the biggest price reductions last month was a 21 percent reduction for BMW's i3 pure electric model and a 31 percent drop for Dongfeng Honda's HR-V.

China Exchanges Ease Refinancing Rules

China's major stock exchanges on Monday announced a package of measures to streamline refinancing rules, aimed at supporting high-quality listed companies and technology-driven firms. The Shanghai, Shenzhen and Beijing stock exchanges said they will accelerate refinancing reviews for companies with strong governance standards, transparent disclosures and solid market recognition. The measures encourage companies to deploy raised funds in businesses aligned with their core operations and in emerging technologies. Companies trading below issue prices may pursue refinancing through private placements or convertible bonds. Disclosure requirements will be simplified. Regulators also said supervision will be strengthened to prevent misuse of funds.

Futures Trading Volumes Surge

Volume on China's futures market more than doubled in January from a year earlier to top 100 trillion yuan (US$14.4 trillion) in value, according to the China Futures Association. Trades surged 65 percent to 912.5 million lots.

Corporate

National Gold Aligns Repurchases With Shanghai Exchange

China National Gold Group said it is suspending precious metals repurchases on weekends and holidays to address volatility in gold and silver markets. The move, which is across both online and offline channels, aligns with the trading days of the Shanghai Gold Exchange. The company said wild fluctuations in precious metals markets in recent weeks have created "heightened uncertainty."

It is also restructuring repurchase operations to improve risk management and efficiency.

Cygnus Fundraising Buoyed by China's Space Ambitions

Shanghai-based Cygnus Semiconductor, which makes chips for satellites, has raised almost 1.5 billion yuan (US$215 million) in multiple funding rounds over the past six months, spotlighting investor interest in China's ambitions to develop space-based communications and orbital data centers. China is aiming to connect 10 million mainland users to satellite networks in the next five years.

Kangtai Exits Planned AstraZeneca Project

Kangtai Biological Products called off a US$400 million vaccine joint venture with UK-based AstraZeneca in Beijing, citing market shifts and the risk of an industry downturn. The Shenzhen-based pharma company said the decision will not materially affect its long-term development plans.

Maersk Signs Order for China's Ships

Danish-based shipping giant Maersk signed an order for eight large container vessels to be built by China's New Times Shipbuilding, for delivery in 2029 and 2030. The vessels will be equipped with dual-fuel engines able to operate on conventional bunker fuel or liquid gas, Maersk said in a statement.