Daily Buzz: 27 January 2026

As Gold Surges, Zijin Expands Mining Assets

China's Zijin, one of the world's largest gold miners, said in a statement that it will buy Canada's Allied Gold for about C$5.5 billion (US$4 billion) in cash. The Chinese company has been ramping up its foreign portfolio of assets as the gold price continues to skyrocket. Longyuan-based Zijin said it will pay C$44 per share for Allied stock. Allied operates mines in Mali, the Ivory Coast and Ethiopia. Zijin currently holds mining assets across nine countries in Central Asia, Africa and South America. The company's primary focus is on gold and copper, with growing interests in lithium, zinc and other critical minerals. The company's shares in Hong Kong surged 44 percent on Monday. Zijin last year executed the largest initial public offering in the gold mining industry, raising HK$25 billion (US$3.2 billion).

The gold price powered past US$5,100 an ounce for the first time on Monday, with the spot price finally settling at about at US$5,086 in New York. Its price surged 65 percent last year and has risen more than 15 percent since the start of 2026. The rally comes as investors continue to seek shelter from geopolitical risks triggered by the US invasion of Venezuela, Washington threats to take over Greenland, strained trans-Atlantic relations and fiscal warning flags in Japan's economy. Silver also rallied to US$108 an ounce.

Europe Plans Giant Offshore Wind Power Project

Europe is planning a giant offshore wind project that will link the grids of multiple countries for the first time and chip away at China's leadership in installed offshore wind power. Nine North Sea nations pledged to build a 100 gigawatt system, with 20 gigawatts expected to come on line by 2023 and the whole project to be complete by 2050. The wind farms will link to participating nations' grids via undersea cables known as connectors. China has installed offshore wind power of 43 gigawatts, or about half the current global total. Participating European members include the UK, Norway, the Netherlands and Germany.

New Round of Ukraine Peace Talks Set

The next round of trilateral talks placing Ukraine, Russian and US negotiators at the same table for the second time will be held on February 1 in Abu Dhabi, Washington said. The first round that ended last weekend, which the US and Ukraine called "constructive," failed to break an impasse over who will control what parts of Ukraine under a plan to end the four-year war.

Israel Retrieves Body of Final Gaza Hostage

The Israeli military said it recovered the remains of the final hostage in Gaza, completing part of last year's US peace deal with Hamas. It's not clear where the body of Ran Gvili was found. He was an Israeli police officer taken during the October 2023 Hamas attack on southern Israel. Observers say the return of all the hostages, living and dead, may pave the way for Israel to open the vital Rafah crossing on the Egyptian border, a major gateway for the flow of humanitarian aid.

Top Business

China Carmakers Deploy Low-Interest Loans as Sales Slow

Chinese automakers are intensifying competition by offering car loans of to seven years, turning ultra-low interest financing into the latest weapon in the battle for market share. The move follows Tesla's launch of a seven-year, low-rate loan plan earlier this month. It was quickly matched by domestic carmakers Xiaomi, Li Auto, XPeng and Geely. Tesla's offer cuts annualized interest rates to below 1 percent on selected models, sharply below typical loans. Industry executives say the strategy lowers upfront costs and monthly payments, helping stimulate demand among younger buyers and easing inventory pressure during a seasonal sales lull. Xiaomi announced a similar program for its YU7 model, while Li Auto and XPeng rolled out similar loans covering multiple models. Geely's has made a limited-time, lower-cost loan available for its Galaxy brand. Auto sales in the first 11 days of January fell a third from a year earlier.

Eastroc Beverage Poised for Listing on Hong Kong Exchange

Shenzhen-based energy-drinks maker Eastroc Beverage kicked off a Hong Kong initial public offering, aiming to raise up to HK$10.1 billion (US$1.3 billion), the South China Morning Post reported. The Shanghai-listed firm said in its prospectus filed on Monday that it its offering 41 million shares at a price of up to HK$248 each. Final pricing is yet to be announced, with shares expected to start trading on February 3. Eastroc said it plans to use the proceeds of the share sale to strengthen marketing. Eastroc was China's largest drinks company by sales volume from 2021-24, with a market share of 26 per cent. The company is betting on expanded sales driven by healthy-lifestyle trends. The IPO will test investor sentiment toward the mainland consumer market.

China Rockets Race Toward Reusable Spacecraft

China's commercial space companies are accelerating plans for reusable rockets, with 2026 emerging as a pivotal year in development. Executives from LandSpace Technology, Galactic Energy and Cas Space outlined their latest timelines at a forum in Beijing. LandSpace said its Zhuque-3 rocket aims to achieve first-stage recovery and reflight this year, before moving into mass production with an annual capacity of up to 30 launches. The company plans further upgrades to boost payload capacity. and support high-frequency reuse. Galactic Energy targets a maiden flight of its Pallas-2 reusable rocket by the end of 2026, leveraging 100-ton-class engines and 3D-printed components to reduce weight and costs. Cas Space is pursuing a dual-track strategy, combining small expendable rockets for ride-share launches with larger reusable vehicles for satellite internet constellations.

Texas Bans Use of Some Chinese Technology

Texas Governor Greg Abbott said state employees will be banned from using hardware or software from Chinese companies Alibaba, Temu, TP-Link, CATL and Shein to protect the "privacy of Texans" from personal data collection by Beijing. The Texas state government employs more than more than 400,000 people.

Economy & Markets

Shanghai Futures Exchange Tightens Metals Trading

The Shanghai Futures Exchange on Monday tightened trading rules for key metals for the second time in a week, seeking to damp excessive market volatility after a dramatic surge in silver and gold prices. The exchange expanded daily price limits for copper and aluminum futures to 9 percent and raised margin requirements for speculative positions to 11 percent, among other restrictions. It also suspended 16 traders from opening new positions or withdrawing funds from tin and silver markets for a month for failure to disclose information about beneficial ownership. The action sent tin prices plummeting.

China to Double Yuan Liquidity Facility in Hong Kong

People's Bank of China Deputy Governor Zou Lan told the 19th Asian Financial Forum in Hong Kong on Monday that China will double the volume of yuan liquidity available to banks in the city to enhance Hong Kong's global position as an offshore hub for the China's currency, the South China Morning Post reported. Zou said China will double liquidity to 200 billion yuan (US$28.7 billion) next week and issue more yuan-denominated sovereign bonds in the city to meet foreign demand for the currency. The yuan facility was launched last October.

Beijing Bourse Earnings Forecasts Show Mixed Results

Eight companies listed on the Beijing Stock Exchange released preliminary earnings guidance for 2025, offering an early look at a market showing both resilience and strain. Five companies forecast profit growth, one expects a decline and two anticipate losses. Hanon Advanced Technology projected net profit to more than triple, with growth of 214-237 percent, while Jilin Tangu Carbon Fiber forecast net income to rise as much as 136 percent to 220 million. Long Bamboo Technology, Wangcheng Technology and Lintex Advanced Materials also said they expect to show profit increases exceeding 50 percent. By contrast, Hualing Integrated Circuit Technology forecast a wider loss, and Nutrichem said it expects to narrow its loss. Gabrielle Optech projected a sharp profit decline.

Trump Raises Tariffs on South Korea, Citing Trade Deal Delay

US President Donald Trump said he is increasing tariffs on imported autos, pharmaceuticals and lumber from South Korea to 25 percent from 15 percent because of a delay in that country's legislature approving a trade deal struck with the US last year. Hyundai is the largest South Korean car exporter to the US.

Goldman Sachs Executive Predicts 20 Percent Gain in Chinese Stocks

Kevin Sneader, Goldman Sachs president of the Asia-Pacific region outside Japan, told CNBC on the sidelines of the 19th Asian Financial Forum in Hong Kong that he expects Chinese stocks this year to rally 20 percent, adding to strong gains last year. He cited a growing investor appetite for stocks related to development of artificial intelligence.

Corporate

Sinochem Proposes Solution to Pirelli Governance Dispute

Italian tiremaker Pirelli's largest shareholder, Chinese conglomerate Sinochem, said on Monday it has proposed a "structured solution" to end a governance dispute with Pirelli's second-largest investor, Camfin, the South China Post reported. It comes as the Italian government is seeking to reduce Sinochem's majority 34.1 percent stake to one of passive investment to allow Pirelli to expand in the US without hitting regulatory restrictions on use of Chinese technology in automaking. Camfin, controlled by Italian businessman Marco Tronchetti Provera, holds a 25.3 stake. Sinochem's proposal is said to entail spinning off some of Pirelli assets into a separate corporate entity. However, Camfin said the proposed solution would harm Pirelli's business model and technological development and still not help the company comply with US regulations, and it has put forth an alternate proposal.

Samsung Set to Begin Production of Advanced HBM4 Chips

Samsung Electronics is poised to start production next month of its next-generation, high-bandwidth memory HBM4 chips and supply them to Nvidia, Reuters reported. Global chipmakers are focusing on advanced chips to feed huge demand from AI applications, creating some shortages in more standard memory chips used in consumer electronics. The advanced chips sell for higher prices, swelling the bottom lines of chipmakers. Both Samsung and South Korean rival SK Hynix are due to report fourth-quarter earnings on Thursday.

Chery to Acquire Nissan Plant in South Africa

Chinese carmaker Chery's South African subsidiary will acquire a local factory of Japan's Nissan Motor, the Yokohama-based company announced. No details of the deal were disclosed. The agreement is subject to regulatory approvals. The sale is part of Nissan's global restructuring strategy to reduce numbers of factories and staff by 2027. Chery sold about 4,700 vehicles in South Africa in the last two months of 2025, ranking it seventh in the passenger segment.

JD, Rokid Roll Out At-a-Glance Shopping App

Chinese companies JD Technology and augmented-reality glasses maker Rokid unveiled JoyGlance, an app that allows wearers to make hands-free payments by just glancing at products and giving oral instructions for payment.

Year of the Horse Cash Splash

Chinese big tech companies are rolling out cash giveaways ahead of the Chinese New Year that begins February15. Tencent said it will give away 1 billion yuan (US$143 million). Starting February 1, it is offering users who pre-register on its Yuanbao app 10 lottery draws, with a single "red packet" valued at 10,000 yuan. Baidu announced it will be offering 500 million yuan in cash prizes from today through the March Lantern Festival that ends new year celebrations. It said information on the prizes is available on its app.