Global TradFi & Macroeconomics

Hong Kong stocks closed lower on April 17, with the Hang Seng Index dropping 0.89%. Blue-chip stocks varied, as Alibaba gained amid AI advancements. Newly listed stocks surged, showcasing strong investor interest, while gold stocks fell due to geopolitical tensions.

On April 17, the Salamar, a Pakistani-flagged oil tanker, became the first crude oil vessel to pass through the Strait of Hormuz since the U.S. blockade began on April 13, carrying 450,000 barrels of oil from the UAE to Karachi, Pakistan.

Reed Hastings will step down from Netflix's board in June after nearly 30 years, marking a shift in leadership for the company. His departure comes amid disappointing earnings and challenges following the withdrawal from an acquisition deal.

The Ethereum Foundation's ETH Rangers Program revealed a major security threat from North Korean operatives infiltrating Web3 companies. The investigation uncovered about 100 operatives, flagged 53 projects, and recovered over $5.8 million. The foundation urges improved hiring processes and global cooperation for enhanced security.

Apple's iPhone shipments in China rose 20% in Q1, outpacing competitors amid a 4% decline in overall smartphone sales, supported by a government subsidy program. Huawei leads the market, while Apple's supply chain allows it to manage rising costs effectively.

Aevex priced its IPO at $20 per share, raising $320 million and achieving a market valuation of $2.2 billion. Specializing in AI-driven defense drones, Aevex will list on the NYSE under "AVEX" on April 18.

Economists anticipate a 25 basis point rate hike by the European Central Bank in June 2026, primarily due to rising energy prices linked to the Iran conflict. While inflation is expected to peak at 2.8%, it should moderate in subsequent years, alongside muted economic growth forecasts for the Eurozone. The ECB remains cautious about potential future hikes amid uncertain geopolitical conditions.

EagleRock Land filed an IPO application targeting $200 million, focusing on land management in the Permian Basin. Based in Houston, it controls 236,000 acres and generated $72 million in revenue in 2025. The company plans to list on NYSE American under EROK.

Uber is acquiring a 4.5% stake in Delivery Hero for 270 million euros, increasing its holding while Prosus reduces its stake. The deal suggests trends toward consolidation in food delivery, supporting Delivery Hero's growth strategy.

Soitec SA has seen a dramatic stock rise of 270% this year, driven by excitement in the photonics sector for data centers. While analysts are optimistic about growth, concerns about the smartphone market's performance create a volatile investment environment.

A 10-day ceasefire agreement between Lebanon and Israel began on April 17, amid U.S. efforts to address the Iran conflict. China's Foreign Ministry supports the ceasefire and urges responsible negotiations to resolve disputes diplomatically.

Envision AESC, a global lithium-ion battery manufacturer, is exploring a Hong Kong IPO in 2026 that could raise $1-2 billion. Backed by GIC and Sequoia Capital, it operates worldwide, serving major auto manufacturers.

Naver and Kakao are expected to report strong Q1 2026 earnings driven by commerce and advertising, despite limited impact from early-stage AI products. Both companies are significantly investing in AI infrastructure and shifting strategies to integrate AI into existing services.

Gate News message, April 17 — Southbound funds through Hong Kong Stock Connect recorded net inflows exceeding HKD 10 billion as of today.

Vale reported strong first-quarter results, with iron ore production rising to 69.7 million tonnes and sales increasing by 4%. Copper production also grew by 13%, while nickel reached a five-year high. Financial statements will be released on April 28.

Bitcoin miners sold over 32,000 BTC in Q1 2026, exceeding 2025's total sales. Key players include MARA, Riot, and Core Scientific. Miner profitability is declining as hash prices fall below breakeven, with reserves down from 1.86 million to 1.80 million BTC.

SenseTime Group is raising HK$3.25 billion through a share placement in Hong Kong, issuing 1.7 billion shares at an 8.6% discount. Funds will support its AI infrastructure and research, while the stock has seen a year-to-date decline of 9.6%.

Tesla is hiring semiconductor engineers in Taiwan for its Terafab project, which aims to create a comprehensive semiconductor manufacturing hub. The roles require over five years of experience in advanced technologies and processes.