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RIYADH: Hong Kong’s benchmark Hang Seng index posted its biggest jump in nearly four months in a shortened trading session on Thursday, while China shares also rose, buoyed by Beijing’s fresh economic stimulus measures and a pause in the yuan’s slide.
The Hang Seng index rose 3.6 percent to close at 19,968.38 in the afternoon, posting its biggest gain since late April. The morning trading was suspended due to a typhoon.
The blue chip CSI300 Index rose 0.8 percent to 4,116.24, while the Shanghai Composite Index gained about 1 percent to 3,246.25.
Baidu reveals its first quantum computer
Chinese search engine giant Baidu Inc. revealed its first quantum computer on Thursday and is ready to make it available to external users, joining the global race to apply the technology to practical uses.
The Baidu-developed quantum computer, dubbed “Qianshi,” has a 10-quantum-bit processor, Baidu said in a statement. The Beijing-based company has also developed a 36-qubit quantum chip, it said.
US tech giant IBM has said that it plans to make a quantum computer ready for commercial use in 2025 with a more-than-4,000 qubit processor. IBM has so far released quantum processors with 127 qubits.
Alphabet Inc’s Google is also aiming to develop a computer with 1,000,000 qubits by the end of this decade.
China’s July net gold imports via Hong Kong at 9-month high
China’s net gold imports via Hong Kong jumped to a nine-month high in July, data showed on Thursday, with banks snapping up bullion as Beijing works to revive an economy hit by a resurgence of COVID-19 cases.
Net imports stood at 48.773 tons in July, compared with 40.563 tons in June, the data from the Hong Kong Census and Statistics Department showed. Total gold imports via Hong Kong were up nearly 23.7 percent to 53.91 tons.
Re-exported gold stood at 48.82 tons in July, versus 37.70 tons in the previous month.
(With input from Reuters)