The Beijing-based short video platform disclosed the funding details in a regulatory filing released after the market closed on Thursday. The company was targeting a $15 billion valuation from the raise, Bloomberg\u00a0reported<\/a>.<\/p>\n Kuaishou shares rose as much as 6.89% at Friday’s Hong Kong market open before paring gains to trade around 0.75% higher.<\/p>\n Stock Chart IconStock chart icon Read the full story here<\/a>.<\/p>\n \u2014 Jenny Lee<\/p>\n Oil prices edge higher on Friday<\/p>\n Oil prices edged higher Friday as investors cautiously welcomed ongoing diplomatic efforts between Washington and Tehran while remaining alert to lingering geopolitical risks.<\/p>\n U.S. West Texas Intermediate futures gained 0.38% to $68.95 a barrel, while Brent Crude futures climbed 0.38% to $72.07 a barrel.<\/p>\n Stock Chart IconStock chart icon Trading activity was expected to be subdued with U.S. financial markets closed on Friday for the Independence Day holiday.<\/p>\n U.S. President Donald Trump told CNBC<\/a> on Thursday that he believed Iran had “agreed to just about everything we need,” describing the conflict as the “denuclearization of Iran” rather than a broader war.<\/p>\n He pointed to oil prices near $68 as evidence that markets had remained relatively stable and said he did not want to see a prolonged closure of the Strait of Hormuz, warning that sharply higher crude prices could trigger a depression.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Gold climbs as weak U.S. jobs data dims Fed hike bets<\/p>\n Gold prices rose on Friday after weaker-than-expected U.S. jobs data tempered expectations for Federal Reserve interest rate hikes.<\/p>\n Spot gold<\/a> added 1.67% to $4,191.69 per ounce, on track for its first weekly advance in five weeks, according to data from LSEG.<\/p>\n Stock Chart IconStock chart icon Gold prices year-to-date<\/p>\n State Street Investment Management said gold’s rally could have further room to run, even after bullion fell 11.7% in June as higher opportunity costs and a stronger dollar weighed on sentiment. <\/p>\n The firm maintained its target of $5,000 an ounce by early 2027, with a 70% baseline view that prices could rise to between $4,750 and $5,500 over the next six to nine months. <\/p>\n While tactical headwinds have increased the chance of gold trading between $4,000 and $4,750, State Street said structural post-Covid support for bullion remains intact and sees firm price support around $3,750 to $4,000.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Asia tech stocks extend sell-off as U.S. chip rout weighs on sector<\/p>\n Asia’s technology stocks extended their sell-off Thursday, tracking another weak session for U.S. chipmakers as investors continued rotating out of the artificial intelligence trade.<\/p>\n In Japan, chip equipment maker Lasertec<\/a> fell 5.8%, while Renesas Electronics<\/a> dropped 6.7% and Tokyo Electron<\/a> declined nearly 4%. SoftBank Group<\/a>, a major tech investor, lost 5.2%.<\/p>\n South Korean technology names were also under pressure, with chipmaking giant SK Hynix sliding 1.9% while investment holding company SK Square shed 5.4%. Battery maker Samsung SDI tumbled more than 8%, while consumer electronics firm LG Electronics fell over 6%. <\/p>\n Samsung Electronics bucked the broader sell-off, rising 1.4% after a report that AI startup Anthropic was in talks with the company to manufacture custom AI chips<\/a>.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Asia markets open mixed as chip slump weighs on sentiment<\/p>\n Asia-Pacific markets traded mixed on Friday as investors continued rotating out of technology stocks, tracking declines in the U.S.<\/p>\n Japan’s benchmark Nikkei 225<\/a> was down 0.86% at the open, while the Topix was up 0.34%. South Korea’s Kospi rose 0.97%, and the Kosdaq Index declined 1.12%.<\/p>\n Australia’s S&P\/ASX 200<\/a> added 0.42%.<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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