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Industry
China\'s top DRAM maker CXMT launches $4.3 billion Shanghai IPO, test for AI memory push
ChangXin Memory Technologies (CXMT), China’s largest DRAM maker, is launching a Shanghai IPO worth about $4.3 billion as AI data centre demand drives a surge in memory needs. Subscriptions on the STAR Market are set to begin on July 16. The company plans to raise 29.5 billion yuan by selling about 6.69 billion shares, around 10 percent of total shares after listing, with an overallotment option also secured.
Industry
China forms semiconductor alliance as Alibaba, CXMT join launch of huge fund
Major Chinese technology companies and state-backed investment institutions have launched a 3.91 billion yuan long-term investment fund in response to tighter U.S. technology export controls. The Changzhi Hanhai Private Investment Fund, registered in Shanghai’s Pudong New Area, aims to supply “patient capital” to support research, development and commercialisation in deep-tech fields such as semiconductors. Investors include CXMT-related entities, Alibaba affiliates and AMEC, alongside state-backed funds.
Finance
South Korea stock market cap overtakes Taiwan, rises to world No. 8
South Korea’s total stock market capitalisation has overtaken Taiwan after recently surpassing Germany, rising to eighth in the world, Korea Exchange data showed. Total market value for KOSPI, KOSDAQ and KONEX stood at 4,799.4 trillion won at Friday’s close, slightly above Taiwan’s 4,798.7 trillion won equivalent. The market has continued to rally this year, with KOSPI and KOSDAQ up 20.8 percent and 16.8 percent from end-2025, while brokers raise KOSPI targets.