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A-share oil and gas stocks continued to decline in the afternoon, with PetroChina and Rongsheng Petrochemical falling by more than 5%, and CNOOC, Sinopec, and CNOOC Development following suit.

2026-05-07

A-share oil and gas stocks continued to decline in the afternoon, with PetroChina and Rongsheng Petrochemical falling by more than 5%, and CNOOC, Sinopec, and CNOOC Development following suit.

Other News
2026-05-06

Moonshot AI (Kimi) is set to complete a new $2 billion funding round at a post-money valuation exceeding $20 billion, led by Meituan’s Dragon Ball Capital with participation from China Mobile and CPE, according to people familiar. Dragon Ball is cont

Moonshot AI (Kimi) is set to complete a new $2 billion funding round at a post-money valuation exceeding $20 billion, led by Meituan’s Dragon Ball Capital with participation from China Mobile and CPE, according to people familiar. Dragon Ball is contributing more than $200 million. The company raised $500 million, $700 million and $700 million in three rounds in January and February; including the latest deal, it has secured over $3.9 billion in less than six months, with valuation up more than fourfold from about $4.3 billion in November. Total funding has surpassed 37.6 billion yuan, the highest among large-model startups. Including IPO proceeds, MiniMax has raised about 15 billion yuan and Zhipu about 13 billion yuan; as of May 6 midday, MiniMax’s market value is about 210 billion yuan and Zhipu’s is about 347 billion yuan. (LatePost)
2026-05-06

US Ambassador to the EU Andrew Puzder said Washington may soon impose 25% tariffs on cars and trucks from the European Union if progress on ratifying a delayed trade deal remains limited. He said the tariffs could come “relatively soon” without subst

US Ambassador to the EU Andrew Puzder said Washington may soon impose 25% tariffs on cars and trucks from the European Union if progress on ratifying a delayed trade deal remains limited. He said the tariffs could come “relatively soon” without substantial movement. Donald Trump has warned of the tariffs, citing delays since the agreement was reached last July, while the EU has raised concerns that recent US actions may breach commitments under the pact.
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