Jack Ma has recently bought more than HK$600 million of Alibaba Group Holding Ltd. stock. Chairman Joe Tsai and Chief Executive Officer Eddie Wu also increased their holdings, together purchasing at least $25 million worth of shares. The buying followed Alibaba’s HK$80 billion share placement in Hong Kong and its pledge to spend more than 380 billion yuan over three years on AI, spanning chips, data centers and large language model development.

Copper prices have pulled back after hitting a six-month high near $14,310 a tonne in August, with LME three-month copper settling 1.2% lower on Tuesday at $13,986.50 a tonne as the spot premium narrowed sharply. The pullback followed a jump in metal delivered into LME warehouses, lifting readily available inventories and reducing the market’s willingness to pay for immediate supply. Longer term, S&P Global forecasts global copper demand could rise about 50% to roughly 42 million tonnes by 2040, potentially leaving a 10 million-tonne supply shortfall. Construction, industrial uses and infrastructure remain the largest demand drivers.

Tight sugar supplies in India have pushed domestic prices sharply higher, lifting sugar stocks even as the broader market weakened. On its Q1 FY27 earnings call, Balrampur Chini said the 2025-26 sugar season was tighter than expected due to lower-than-expected output, healthy domestic consumption and diversion of sugarcane toward ethanol, which drew down inventories. The government is considering steps to boost supplies and curb inflation ahead of the festival season.

Nasdaq plans to extend U.S. stock trading to nearly 23 hours a day, five days a week, adding an overnight session from 9 p.m. to 4 a.m. ET. The exchange expects the schedule to begin on December 6, 2026, subject to U.S. Securities and Exchange Commission approval and readiness of the securities information processor. Nasdaq also plans risk controls such as static price bands to reject orders outside set limits. The move is aimed at meeting rising global demand for U.S. equities.

Crude oil and gold prices rose amid heightened Middle East tensions and a softer U.S. dollar. After Israel attacked Iran on February 28, Brent crude futures climbed to $91.14 and WTI hit $85.37, both recent highs. Gold extended gains for a third straight day, with spot gold at $4,424.28, while silver added 0.3%.

Eureka Forbes told investors through FY26 that its annual maintenance contract (AMC) business had turned around, but analysts said on the Q1 FY27 earnings call that service growth looked flat or only marginal. A year earlier, fresh service bookings were growing at a doubledigit pace, while the latest quarter coincided with a 312 percent AMC price increase that management said led some customers to postpone renewals. The deferrals have raised questions about whether prior guidance for doubledigit service revenue growth can still be met.

Hindustan Copper shares rose 7% on August 17 as copper prices on the London Metal Exchange climbed toward a record high. The LME cash premium widened to $518.50 a tonne, the largest since 2021, while three-month copper briefly rose to $14,396 a tonne, nearing the all-time peak of $14,527.50, taking year-to-date gains to nearly 16%. A surge in shipments to the U.S. and the prospect of tariff decisions also supported copper prices.

Anthropic forecasts 2028 revenue of roughly $190 billion to $200 billion, far above the $47 billion revenue run rate it disclosed in May. The company said its revenue run rate was about $9 billion at the end of 2025 and had climbed to more than $47 billion by May. Anthropic also projects at least $10.9 billion in revenue for the second quarter of 2026, more than double the prior quarter, and is on track for its first quarterly operating profit of $559 million. The figures underscore rapid growth that would underpin a potential $2 trillion IPO valuation.

Jubilant FoodWorks shares climbed 4% after the company reported fiscal first-quarter results, making it one of the day’s top midcap gainers. The company said the decline in EBITDA margin was contained despite cost inflation, helped by price increases and savings initiatives. Brokerages pointed to prospects for improving growth at Domino’s India and sustained momentum at Popeyes, where average daily sales topped Rs 95,000. Domino’s India second-quarter like-for-like growth is expected to be 5%, while commodity inflation remains a key factor to watch.