April 2023 Financial Market Review

An airstrike on a bustling market in rebel territory left at least 50 people dead, in one of the deadliest attacks on civilians in months.

Nvidia founder and CEO Jensen Huang and AMD chief Lisa Su have joined an influential advisory board at a prestigious Chinese university, placing the two key American AI tech leaders in a high-level forum known for connecting global executives with senior Chinese officials. Huang and Su were among three new members appointed to the advisory board of Tsinghua University’s School of Economics and Management (SEM), alongside Marc Pictet, senior managing partner of Swiss wealth and assets manager...

China’s generative artificial intelligence user base surpassed 700 million at the end of June, accounting for more than half of the population as wide AI adoption pushes the technology’s penetration rate to a record high in the country. The user base data, released Tuesday by the China Internet Network Information Centre, represents an increase of 16 per cent from the end of 2025, when China had 602 million generative AI users with a penetration rate of 42.8 per cent. Question-and-answer...

Tens of thousands of people thronged Apple stores in India this month to snap up the newest iPhone models – the 18 Pro and Pro Max – but the frenzy has kicked off public debate in the country about affordability and consumer debt. The iPhone 18 Pro starts at 164,900 rupees (US$1,700) and goes up to 179,000 rupees, while the iPhone 18 Pro Max starts at 179,900 rupees and maxes out at 329,900 rupees. Apple also unveiled the iPhone Duo, its first-ever folding smartphone, essentially setting a new...

A Vietnamese pro-democracy organisation has alleged that two of its members, who hold Norwegian and Australian citizenship, were abducted in Cambodia and taken to the border with Vietnam, where Hanoi authorities later accused them of illegally entering the country. Vietnam has charged the two men, along with a third alleged member of the organisation, with terrorism and document forgery, saying they were caught crossing the border from Cambodia with forged identity documents. The organisation,...

Malaysia says it is repatriating undocumented migrants from Myanmar who want to return. Critics say it is putting their lives at risk.

The Victorian heroine has long been celebrated in China for her independence and insistence on equality.

Hong Kong businesses are lagging behind their mainland Chinese peers in adopting artificial intelligence, as entrenched legacy systems and a risk-averse corporate mindset slow the city’s digital transition, according to a senior executive at consultancy Accenture. Only 10 per cent of Hong Kong firms surveyed by Accenture had integrated generative AI across multiple business functions, compared with about 21 per cent of mainland enterprises, said Robert Hah, Hong Kong office lead at Accenture...

US President Donald Trump’s recent endorsement of a trade corridor connecting India to Europe via the Middle East has renewed focus on the three-year-old project, but analysts warn it must expand to withstand ongoing geopolitical conflicts. The India-Middle East-Europe Economic Corridor (IMEC) was first unveiled at the G20 summit in 2023 as an alternative to existing routes and China’s Belt and Road Initiative. Backed by India, the United States, Saudi Arabia, the United Arab Emirates, Israel...

The Philippines is preparing to give its coastguard more responsibilities in the contested South China Sea even as the agency faces a more basic problem: whether it has enough ships, aircraft and personnel to carry them out. The proposed overhaul comes as the coastguard is being stretched by increasingly demanding operations around Philippine-claimed waters, while funding constraints threaten to limit its ability to keep its existing assets at sea. That tension is evident in the 2027 budget. The...

A 30-year-old man was charged on Tuesday over an AI-generated image of a crocodile at Pandan Reservoir in Singapore that prompted authorities to search for the reptile and suspend water activities there. Ye Lin, a Myanmar national, was handed two charges – one count of communicating a false message and one count of obstructing the course of justice. Speaking through an interpreter, he told the court that he intended to plead guilty, and would not be engaging a lawyer. On August 20, Ye Lin...

For 28-year-old Indonesian professional Evelyn Clarissa Siregar, asking strangers to help fund her MBA in Singapore was a gamble: she knew the request was unconventional but hoped putting her dream out in public might open a door. Instead, her appeal for more than S$100,000 (US$78,000) to fund her business programme at Singapore Management University (SMU) drew fierce online criticism, with some labelling her entitled and questioning her plans. “I never expected the backlash to become this big,”...