The Asia Eight

Daily must-reads from the world’s most dynamic region

February 04, 2021

1 TOP STORY: Tech giants do battle in antitrust row

2 ATF TV: EV market now a gauge of tech sector

3 ASIA MARKETS: HSI, Nikkei 225, and CSI300 fall

4 NEWS: Xpeng $2bn credit line boosts EV outlook

5 NEWS: Asia has skin in Yellen GameStop summit

6 NEWS: China hogs barley supplies for its pig herd

7 NEWS: India shifts focus to health, infrastructure

8 ATF BIG PICTURE: China dominates VC fundraising

01 Top Story TikTok sues Tencent in antitrust row

Bytedance's Douyin lodges a suit in a Beijing court accusing Tencent of monopolistic practices and seeking 90 million yuan ($14m) in compensation; Tencent says the claim is 'slander' and has vowed to sue its rival; Indeed, this feud has gone on for years

02 ATF TV EVs and tech

The electric vehicle market has become a barometer of the health of the wider tech sector. TFI’s Peter Knez, ALLINDEX’s Christian Kronseder technology venture capitalist Alfred Chu discuss.

03 Asia Markets

HSI falls 0.2% to 29,113.50, CSI300 loses 0.4% to 3,501.86 and the Nikkei 225 drops 1.1% to 28,341.95

04 Xpeng given credit line

Morgan Stanley gives an upbeat outlook on the performance of China’s EV startups - Xpeng, Nio and Li Auto - and raises their price targets just before the three companies reported jumps in delivery numbers for January

05 Asia skin in Yellen summit

US Treasury Secretary Janet Yellen has called regulators to a summit to discuss market volatility in the wake of the GameStop trading frenzy; Any solutions she endorses will have an impact on Asian markets, which also saw price swings on Reddit-driven buying

06 China hogs global barley

Australia is the loser as Chinese traders find alternative sources of crops for pigs and livestock after diplomatic tensions led to imposition of a trade-sapping 80.5% tariff on the vital grain

07 India takes stock

The country needs to expand its manufacturing, to create more jobs and utilise its labour better – to focus more on trade and generate more exports, as it has limited engines for growth and its share of global trade has fallen since 2013

08 ATF Big Picture China VCs dominate fundraising