9 a. m. in Shanghai, Shenzhen and here in Hong Kong.You're watching the China show. I'm Yvonne Man with David Ingles. Happy Friday.We are counting down to the open of markets in Greater China. Let's get to your top stories today. Stocks across the region sideways flats coming under pressure mostly.That's US treasuries erased gains over concerns that a US debt buyback will offer. No more, no more at least than a temporary reprieve reprieve from rising borrowing costs. Bloomberg loans the anthropic expects to ...

HAIDI: THIS IS "THE ASIA TRADE." PAUL: THE TOP STORIES THIS HOUR, ASIAN STOCKS SET TO FOLLOW WALL STREET LOWER, WHILE A BOND RALLY FIZZLES OUT, EVEN AS SCOTT BESSENT FLAGS WIDER EFFORTS TO BUY BACK DEBT, AND A NEW FISCAL PLAN WITHIN DAYS. HAIDI: BLOOMBERG LEARNED ANTHROPIC EXPECTS TO MATCH OR EXCEED THE RECORD NUMBERS FROM THE SPACEX I. P.O. , PREPARING TO FILE PUBLICLY AS SOON AS THIS MONTH. PAUL: AND ALIBABA’S QUARTERLY PROFIT DIVES 75% AS A.I. SPENDING HEADS TOWARDS $10 BILLION. BUT AS U.S.-LISTED SHARES ...

Macroeconomic and Fiscal Trends - U.S. national debt surpassed 40 trillion dollars, with trillion-dollar-plus deficits and 1 trillion dollars in annual interest payments[4][12] - The cumulative inflation rate reached 21% over the prior administration's years due to 5 trillion dollars in new spending and money printing[13] - Treasury Secretary Scott Bessent dismissed short-term bond yield fluctuations as noise while the administration seeks tools to lower borrowing costs[1][2] - Equity markets reflected geopolitical and macroeconomic pressures, with the Dow Jones dropping 1.3%, the S&P 500 down 0.9%, and the Nasdaq shedding 0.7%[35] Industry and Corporate Developments - Broadcom sought over 60 billion dollars in debt for an artificial intelligence chip financing deal, with potential financing reaching 100 billion dollars[36] - Anthropic prepared for a mega initial public offering expected to surpass SpaceX's 75 billion dollar valuation, adding Citigroup alongside Morgan Stanley, Goldman Sachs, and J.P. Morgan as advisors[37][71] - Technology and energy industries faced scrutiny regarding large-scale data centers impacting power supplies and water usage, leading to initiatives like the Ratepayer Protection Act[21][22] International Trade and Geopolitics - China purchases over 90% of Iran's petroleum sales, prompting U.S. legislative actions like the SHIP Act and potential economic sanctions targeting Chinese financial institutions[24][25] - The United Arab Emirates announced its intention to cut economic ties with Iran, marking a significant shift in regional implementation of economic pressure[61] - Trade negotiations involving Canada and steel, aluminum, and auto tariffs indicated potential adjustments, while the broader United States-Mexico-Canada Agreement faced structural renewal challenges[51][53][55]