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- 🟠 China: 1 new billionaire per day
🟠 China: 1 new billionaire per day
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☕️ Good morning, friends,
We love experiments — but this one might be too much even for us: Japan’s Prime Minister Takaichi served Donald Trump American rice with American beef. 🍚
Makes you wonder what’s on the menu for the upcoming Xi–Trump summit. Our suggestions: Chinese pizza, German pad thai, or Australian ramen…
P.S. Job of the week: Head of Sales at asiabits. 👀
📢 Highlights: Asian markets climbed, driven by tech momentum, hopes for a US-China trade deal, and the Fed’s latest policy shift. The Fed cut rates by 0.25 pp to 3.75–4.00% on Wednesday.
Powell, however, poured cold water on December hopes, saying another cut is “far from certain” — keeping market euphoria in check.
💹 Tech stocks and growth ETFs led the rally. Singapore’s ETF market hit a record S$16.3 billion in assets under management in Q3 — up 40% year-on-year. China-focused funds dominated performance charts, boosted by tech optimism and inflows into themes like EVs and ChiNext growth stocks.
TOP BIT
💰 China’s super-rich smash records
No. 5 on the list but No. 1 in show business: Xiaomi founder Lei Jun
According to the new Hurun China Rich List 2025, China now counts 1,434 super-rich individuals — more than ever before. After years of stagnation, their total wealth has surged 42 % to 30 trillion CNY (4.1 trillion USD), driven mainly by the stock market boom, AI, and electric vehicles.
“China’s richest have bounced back big-time.”
The Details
📈 Wealth at record speed: China now produces roughly one new billionaire per day. This year alone, 376 people made the list for the first time.
🏅 At the top: …