Alibaba Group has priced an HK$80 billion share placement to fund artificial intelligence investment and expand its AI infrastructure. The Chinese technology group will issue 710 million new ordinary shares at HK$112.70 each. The deal is worth about US$10.2 billion at current exchange rates. Alibaba expects the transaction to close on Aug. 26, subject to customary conditions.
Latest News
On August 12, 2026, a total solar eclipse crossed the Russian Arctic. It then swept into the North Atlantic and continued toward Europe. State Space Corporation Roscosmos said the eclipse began over Russia’s remote northern regions at about 17:00 GMT. The Moon’s shadow moved across Greenland and Iceland before reaching Spain and northeastern Portugal near sunset. Totality appeared only inside a narrow corridor. Surrounding regions across Europe, North America and Africa experienced a partial solar eclipse.
The UN said economic uncertainty, digital inclusion and climate change rank among major challenges facing younger generations across borders. These pressures often reach beyond national boundaries and require coordinated responses, according to the Secretary-General’s message. Guterres also pointed to the creativity, dynamism and leadership of young people. He described youth as organizers and innovators who already contribute to communities and public life. The message linked youth participation with wider efforts to advance sustainable development.
Meta and TikTok sought immediate appellate review of lower court decisions involving Section 230 of the Communications Decency Act. The appeals court said Section 230 operates as a defense against liability, not as immunity from facing a lawsuit. As a result, the court found that the companies could not pursue the appeal at this stage. The decision did not determine whether Section 230 will ultimately block any claims. It instead allowed the federal proceedings to continue under the existing trial court orders.
Fujian authorities suspended 686 road passenger routes and 658 train services during the storm response. They also closed 234 major tourist attractions and canceled dozens of cultural and tourism events. In Shanghai, airlines canceled more than 900 flights at the city’s two main airports on Monday. Heavy rainfall caused flooding in parts of the financial center and disrupted public transportation. The measures followed widespread weather warnings across coastal areas exposed to Dolphin’s winds and rain.
Travel
Spain has begun temporary border checks on travelers arriving from Italy by air and sea, in response to Italy imposing similar controls on arrivals from Spain. Document checks are being conducted on passengers at airports in Madrid, Barcelona, Seville, Bilbao, Alicante, and Valencia. The controls are scheduled to remain in place until Sept. 7. Italy introduced its controls after a large migration influx into Ceuta, Spain’s North African enclave, and specified that they target non-EU nationals arriving from Spain.
South Korea recorded a $596.6 million tourism surplus in June 2026, its strongest monthly result since the COVID-19 pandemic. The figure marked a $1.44 billion improvement from June 2025, when the balance showed an $846.8 million deficit. Korea Tourism Organization data show June produced the second-highest monthly tourism surplus on record. Only October 2008 was higher, with a surplus of $661.5 million.
Business
Alibaba Group has priced an HK$80 billion share placement to fund artificial intelligence investment and expand its AI infrastructure. The Chinese technology group will issue 710 million new ordinary shares at HK$112.70 each. The deal is worth about US$10.2 billion at current exchange rates. Alibaba expects the transaction to close on Aug. 26, subject to customary conditions.
South Korea has begun its first container ship trial through the Arctic to Europe. The 2,758-TEU PanStar Acro left Busan New Port at about 9 p.m. on August 22. The Ministry of Oceans and Fisheries confirmed the departure and published the voyage schedule. The ship will use the Northern Sea Route before calling at three European ports. The 45-day round trip is scheduled to end in Busan on October 5.
July marked the second consecutive monthly record for imports by value. Crude oil played a major role in the increase as Japan faced higher energy costs. Crude import volumes rose 5.5% from July 2025, ending three months of year-on-year declines. The value of those crude shipments jumped 87.8% over the same period. Japan remains heavily dependent on imported energy, making changes in oil prices and exchange rates important factors in its merchandise trade figures.
Healthcare shares strengthen market gains
Healthcare stocks provided another source of support during Wednesday’s session as several pharmaceutical shares recorded large gains. Moderna shares surged 177%, while Merck advanced 12.6% after the companies announced positive results from a Phase 3 melanoma trial. The INTerpath-001 study tested personalized mRNA therapy intismeran autogene with Keytruda following surgical removal of high-risk melanoma. The combination met its primary endpoint for recurrence-free survival. It also met a key secondary endpoint measuring survival without distant cancer spread.
Health
Australian researchers from Adelaide University and the Olivia Newton-John Cancer Research Institute have identified a novel molecular switch that drives the spread of aggressive tumors. Published in EMBO Molecular Medicine, the breakthrough study reveals that Australian researchers uncover a promising new way to tackle triple-negative breast cancer by restoring a critical regulatory molecule known as miR-342. The discovery opens new avenues to prevent life-threatening secondary cancers in organs such as the lungs and bones.