Daily Buzz: 17 April 2026

Top News

Temporary Ceasefire in Lebanon Begins in Prelude to US-Iran Talks

A 10-day ceasefire began in the Lebanon war after Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun reached an agreement in the highest-level bilateral talks in 44 years. The ceasefire was prodded by the US, which saw the continuing conflict as a stumbling block in efforts to forge a peace agreement with Iran. Israel has been attacking Iran ally Hezbollah in Lebanon since the early days of the Iran war, after Hezbollah attacks triggered by the assassination of Iranian leader Ali Khamenei, spiritual head of the Shi'ite Muslim faith embraced by both Iran and Hezbollah. Iran had said it wouldn't resume negotiations while Israeli attacks in Lebanon continue. The contentious issue of Israeli occupation of southern Lebanon remains.

US President Donald Trump said he "feels good" about the chances of reaching a deal with Iran when the two sides resume peace talks, now likely to take place next week in Pakistan. Iran and the US are reportedly in indirect talks on extending their two-week ceasefire that expires on April 22. US Defense Secretary Pete Hegseth warned of repercussions if Iran doesn't reach a deal with the US. The Pentagon, he told a press conference is "locked and loaded" and "ready to resume combat operations at a moment's notice."

Global oil prices hovered below US$100 a barrel as investors held to optimism that the Iran war, now in its seventh week, will end soon.

Top Business

TSMC Posts 4th Straight Record Quarterly Profit on AI Chip Demand

Taiwan Semiconductor Manufacturing (TSMC), the world's largest ​manufacturer of advanced artificial intelligence chips, said first-quarter profit rose 58 percent from a year earlier to a record NT$572.5 billion (US$18 billion) on a revenue surge of 35 percent to NT$1.1 trillion, amid escalating demand for high-performance chips that power AI infrastructure. The profit was the fourth consecutive quarterly record.

TSMC is a key supplier of advanced processors to Nvidia, Apple and Advanced Micro Devices. Chips of 7-nanometer or smaller sizes accounted for three-quarters of total wafer revenue in the quarter, with sales of 3-nanometer chips rising from 6 percent of revenue in the third quarter of 2023 to 25 percent in the latest quarter. In technology, smaller chips are used in compact transistor designs with greater processing power and efficiency.

TSMC is Asia's most valuable company, with a market capitalization nearly double that of rival ⁠South Korea's Samsung Electronics. During an earnings call with analysts, TSMC said it expects 30 percent revenue growth this year and capital spending as high as US$56 billion. Executives said the company hasn't experienced significant impact on its operations from energy supply disruptions caused by the Iran war, but concerns have been raised about disruption of chip-making materials like helium if the conflict is prolonged.

Sigenergy, an IPO Sprinter, Has Strong Trading Debut

Shares in Shanghai-based Sigenergy, a maker of energy storage systems, doubled from their offer price in their trading debut in Hong Kong following a HK$4.4 billion (US$562 million) initial public offering. Sigenergy claimed the distinction of being the fastest Chinese company to go from founding to listing, a timeframe of just under four years. The retail portion of the IPO was more than 1,000 times oversubscribed amid investor enthusiasm for companies involved in advanced technologies. Cornerstone ​investors included ⁠Goldman Sachs Asset Management, Hillhouse and UBS Asset Management. Sigenergy said it plans to use proceeds of the sale for research and development, marketing and after-sales services. Most of its revenue comes from overseas, with China accounting for only 1 percent.

Mark Mobius, Chinese Investment Champion, Dies

Iconic global fund manager Mark Mobius, who championed investment in China long before it became fashionable and was often called the "father of emerging markets, died at age 89. Based in Dubai in recent years, he was managing director of Mobius Emerging Opportunities Fund. Bullish on China throughout his career, he once praised the Stock Connect program linking mainland and Hong Kong stock exchanges as a major impetus for global money pouring into Chinese stocks, the South China Morning Post reported. A frequent visitor to China, Mobius was born to a German father and Puerto Rican mother who moved to the US before his birth. He held a doctoral degree in economics from MIT.

Economy & Markets

China's Economy Powers Ahead, Beating Expectations

China's economy in the first quarter grew a faster-than-expected 5 percent from a year earlier, expanding from 4.5 percent growth the previous quarter. The growth rate was at the upper range of the government's 4.5 - 5 percent target for 2026. In other data released by the National Bureau of Statistics on Wednesday, fixed-asset investment in urban infrastructure in the first three months edged up 1.7 percent, despite a deepening 11.2 percent slump in property construction. Industrial production in March increased a stronger-than-expected 5.5 percent, jumping 6.1 percent in the first three months of the year, and retail sales in the month rose 1.7 percent, capping a quarterly gain of 2.4 percent.

The quarterly data cover only one month of the war against Iran, which has disrupted energy and other global supply chains. Khoon Goh, head of Asia research for Australia & New Zealand Bank in Singapore, told Reuters, "It's very clear that the Chinese economy has been fairly well-insulated from the Middle East conflict, partly because they probably incurred less of an oil supply disruption because they're able to access oil from Russia and some from Iran. And they've also curtailed their exports of refined products, so there's no issue about potential shortages onshore."

World Bank Head Warns of Lingering Effects of Iran War

World Bank President Ajay Banga said countries affected by the Iran war should prepare for conflict-related disruptions to last for months, even if the current fragile ceasefire is extended and the oil-vital Strait of Hormuz is reopened. "It will still take a few months for things to come back to where they were" he told CNBC at the International Monetary Fund's spring meeting in Washington. "So we have to prepare for a few months of some destabilization for those countries." The finance ministers of 11 countries, including the UK and Japan, called on the World Bank and IMF to set up "coordinated emergency support" for countries hard hit by disruptions from the war.

China Brokerages Benefit From Strong Market Activity

China's brokerages are off to a strong start this year as robust stock markets deliver revenue growth, with Citic Securities reporting a 55 percent increase in profit for the first quarter and China International Capital Corp advising investors that it's likely to post up to a 90 percent rise in net income. Citic Securities last week reported profit of 10.2 billion yuan (US$150 million) on a 41 percent increase in revenue to 23.2 billion yuan. China International signaled profit for the quarter could be as high as 3.88 billion yuan. Smaller firms such as Dongguan Securities and Huayuan Securities have also reported strong growth in brokerage, wealth management and research businesses. In the first three months of the year, the trading value of mainland Class A shares surged by two thirds, with new investor accounts rising 60 percent.

Robotics Startup Tars Secures New Funding

Shanghai-based robotics startup Tars raised US$455 million in a funding round led by GL Ventures, HongShan Capital Group and Meituan. Founded in February 2025, Tars focuses on embodied AI systems that integrate large models, robotics hardware and mass production capabilities.

China Pares US Treasury Holdings

China trimmed its holdings of US Treasuries in February, according to a monthly US government report on foreign investment in government debt. China's holdings fell to US$693.3 billion in February, the lowest level since 2008, from US$694.4 billion in January.

Luxury-Goods Sellers Miss Revenue Forecasts

Global luxury-goods retailers reported weaker-than-expected first-quarter results, as geopolitical tensions and uneven demand weighed on growth. LVMH said sales rose 1 percent in the quarter to 19 billion euros (US$22 billion), citing negative consumer sentiment from the Iran war. Its key fashion and leather goods division, including Louis Vuitton and Dior, declined 2 percent. Hermès missed estimates with a 5.6 percent increase in revenue to 4.1 billion euros, and Kering posted a 6 percent decline in revenue to 3.6 billion euros. Gucci-owner Kering said it will acquire a minority ‌stake in Shanghai-based Icicle Fashion ​Group, Icicle, ​a fast growing Chinese ‌luxury ⁠brand founded in 1997 that operates more than ​200 stores, ​including ⁠in Paris.

Corporate

Ganfeng Lithium Signals Q1 Profit

Ganfeng Lithium, the world's largest producer of lithium metal, signaled expected first-quarter earnings will turn to a profit of 1.6 billion yuan (US$234 million) from a year-earlier loss of 360 million yuan. The company is benefitting from a 150 percent surge in lithium prices amid strong demand from electric vehicle and energy-storage companies. Gangfeng's customers include automakers Tesla and BMW. Separately, Shanghai-listed Zhejiang Huayou Cobalt, which develops and produces lithium battery materials, said first-quarter earnings nearly doubled from a year earlier to 2.5 billion yuan, the South China Morning Post reported

Ningbo Ocean Shipping Launches China's First Fully Electric Container Vessel

Ningbo Ocean Shipping's Ningyuan Diankun, the world's largest and China's first 10,000-ton fully electric "smart" container vessel, began commercial operations this week. The vessel has a carrying capacity of 742 standard containers. It's power by 10 battery units with capacity equal to that of 300 electric vehicles. "This project is an important step in aligning with the shipping industry's broader green transition and supporting China's carbon-reduction goals," Ningbo Ocean Shipping Co said. An electric sister ship is expected to begin trial voyages next month.

China Robotaxi Firms Undeterred by War in Middle East Expansion

China's WeRide, Didi and Pony.ai are driving ahead with robotaxi expansion plans in Gulf states despite the Iran war, CNBC reported. Didi said it plans its first overseas robotaxi test in the United Arab Emirates later this year, Guangzhou-based WeRide announced the launch this month of fully driverless taxi services in two districts of Dubai, and Pony.ai has submitted an application for a commercial license in Dubai after testing robotaxis there. The three companies already have robotaxis operating in mainland China.

Tesla Advances Next-Generation AI Chips

Tesla has completed the design of its next-generation AI chip for autonomous driving, Chief Executive Elon Musk announced. The AI5 chip is expected to deliver performance comparable to Nvidia's Hopper architecture, with two units matching a single Blackwell processor. The chip integrates memory modules supplied by SK Hynix. Production of the new chip will be split between Samsung Electronics and Taiwan Semiconductor Manufacturing.

JD Begins Robot Maintenance Service

JD.com launched a new robot maintenance program providing diagnostics, repair and battery-swap services for humanoid and other robots. The company said it plans to expand the program, begun in Beijing, to 50 cities in the next three years.