Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Chinese robotaxi stocks surged in Hong Kong trading on Wednesday, tracking strong overnight gains in Tesla Inc (NASDAQ: TSLA) as investor optimism around autonomous driving and ride-hailing technology continued to build. Shares of WeRide (HK: 0800) rose about 3%, while Pony AI (HK: 2026) jumped roughly 5.5%, mirroring similar advances in their U.S.-listed counterparts.
The rally followed a nearly 3% gain in Tesla shares overnight, which saw the electric vehicle giant close at a record high. Tesla’s surge was driven by comments from CEO Elon Musk, who confirmed that the company is actively testing its robotaxis without a human safety monitor on board. Musk has repeatedly highlighted autonomous driving and robotaxi services as key long-term growth drivers for Tesla, even though its robotaxi ambitions are still in the early stages of development.
Compared with Tesla, companies such as Pony AI and WeRide are already among the world’s most established robotaxi operators. Alongside Baidu’s Apollo Go and Alphabet-backed Waymo, these firms operate autonomous ride-hailing services across multiple cities. While Waymo’s operations are primarily concentrated in the United States, Chinese robotaxi companies have expanded into several international markets, including parts of the Middle East and Asia, giving them a growing global footprint in the autonomous mobility sector.
Tesla, however, may hold a unique advantage due to its massive installed base of vehicles. Musk has suggested that Tesla could potentially transform existing models into robotaxis through a future software update, though its fully driverless technology is still undergoing testing and remains subject to regulatory scrutiny. Tesla has also faced multiple regulatory challenges related to its self-driving software, underscoring the hurdles that still exist in the autonomous driving space.
Broader sentiment toward robotaxi stocks has also been supported by a recent Bank of America report, which estimated that driverless ride-hailing could represent a market opportunity of more than $1 trillion in the United States alone. Adding to the optimism, a separate report indicated that Waymo is seeking to raise $15 billion at a valuation of $100 billion, highlighting strong investor confidence in the future of autonomous ride-hailing technology.
