Markets

A viral video of Astronomer CEO Andy Byron and HR head Christine Cabot at a Coldplay concert led to Byron’s resignation. The video, showing a brief embrace, fueled speculation about their relationship, compounded by Byron’s marital status. Astronomer cited unmet standards of conduct in its statement. Coldplay responded by introducing camera-free zones at future concerts. Pete DeJoy will serve as interim CEO while the board searches for a permanent replacement.

South Korean retail investors favor Chinese markets, ranking them second only to the U.S. for overseas investments, driven by trading volume data ending July 17th. Hong Kong stocks, particularly Xiaomi, are popular. The top ten Hong Kong-listed stocks by net purchase amount by Korean investors included BYD, CATL and Alibaba. With considerable deployable funds, Korean investors are drawn to China’s higher returns, tech advancements in AI, EVs, and semiconductors, and pro-private enterprise policies. This reflects a broader global trend of capital reallocation towards Chinese assets due to its sustained economic growth and innovation.

A Weibo discussion analyzing China’s 12306 railway ticketing system has gone viral. The analysis focuses on maximizing revenue per available seat-kilometer (RASK). It suggests the waitlist (houbu) isn’t a passive queue but informs capacity allocation, much like ride-hailing requests. The system prioritizes filling entire routes, potentially making segmented tickets unavailable. Waitlist usage benefits both passengers (fairness) and the railway (data-driven capacity adjustments). Timely waitlist submissions optimize operations and increase ticket booking probability.

Xiaomi’s YU7 electric SUV has garnered over 240,000 pre-orders within 18 hours of launch, signaling a shift in China’s economic outlook. Defying expectations of a price war, Xiaomi focused on innovation and user experience with both the SU7 and YU7 models. Experts suggest Chinese consumers are willing to invest in domestic EVs that meet their needs and demonstrate quality, driving companies toward increased R&D investment. Ford CEO Jim Farley acknowledged China’s advanced EV technology, further highlighting Xiaomi’s potential as a major consumer brand in the automotive sector.

Chinese social media influencer “Dai Dai Yang” has died at 22 after battling bone cancer for 1,610 days, diagnosed at age 17. She shared a poignant farewell message, expressing gratitude to her followers for enriching her life and encouraging them to cherish each other and live well. She asked them to enjoy life’s simple pleasures on her behalf. Bone cancer’s early symptom is pain, initially mild but intensifying as the disease progresses. Her journey highlights the need for continued research and support in fighting bone cancer.

Liu Xiao Ling Tong, famed for his portrayal of the Monkey King in the 1986 “Journey to the West” TV series, made a surprise appearance at China Monkey Mountain. He was observed guiding performers on wielding Sun Wukong’s Golden Cudgel. The appearance sparked nostalgia online, with many praising Liu’s iconic and definitive interpretation of the character which remains the most memorable Sun Wukong for many despite newer adaptations.

A recent investigation reveals that some restaurants are offering different food quality for dine-in and delivery orders, using fresher ingredients for in-house customers and cheaper alternatives for takeout. High commission rates charged by delivery platforms are allegedly squeezing restaurant profits, incentivizing this “two-tiered” system. This practice risks a downward spiral in the food delivery industry. Experts urge delivery platforms to embrace transparent fee structures and restaurants to prioritize integrity to ensure consistent quality and ethical operations.

To celebrate its 10th anniversary, VAPORESSO launched “Innovation X” in Jakarta with a hypercar parade, kicking off “The Roar On Rush” world tour. The event showcased the XROS 5 and highlighted VAPORESSO’s focus on vaping innovation and user experience. The tour continues in Paris, London, and Las Vegas. VAPORESSO will also host online events in August, inviting users to explore technology and collaborate on future designs.

The trending “Free Bubble Tea is Gone” hashtag on Weibo signals a potential shift in China’s food delivery market. Intense subsidy wars between giants like Meituan and Ele.me led to rock-bottom prices, but the State Administration for Market Regulation (SAMR) has intervened, urging a more sustainable competitive approach. Experts question the long-term viability of aggressive discounts, suggesting that neither platforms nor merchants can indefinitely bear the financial burden of these “delivery wars,” which aim to dominate China’s local services market.

Nearly expired bottles of Nongfu Spring’s “Scream” energy drink are being sold at surprisingly high prices (up to $12 USD) on Chinese secondhand online marketplaces. This price surge for a soon-to-expire product, despite its reputation as one of China’s “worst-tasting” beverages, sparks questions about market dynamics and consumer behavior. The red variant of “Scream” aims to replenish electrolytes lost during exercise, a function crucial for athletic performance and mitigating dehydration.