Asian Stocks Fall as Oil Surge, Bond Yields and AI Concerns Hit Markets 
Bitget Restores Withdrawals After $388 Million Security Breach 
South Korea Exports Set for 16th Monthly Gain on AI Chip Demand 
HUTCHMED, AstraZeneca Seek FDA Approval for Lung Cancer Combo 
Australia Budget Deficit Narrows to A$22.3 Billion on Stronger Tax Revenue 
Oil Prices Jump Nearly 3% as Iran Holds Firm on Hormuz Conditions 
U.S. Stock Futures Steady as AI, Rate Concerns Weigh 
Anthropic Targets $2 Trillion Valuation in Planned IPO 
Northern Star Shares Surge After Rejecting Gold Fields Takeover Bid 
Citigroup Expands Coinbase Partnership for Stablecoin Payments 
RBA Hikes Interest Rate to 4.60% as Inflation Risks Rise 
TSMC Accelerates 2nm Expansion as AI Chip Demand Surges 
Hong Kong Home Prices Stabilize in August After July Decline 
Samsung Invests $1 Billion in KKR’s Helix AI Infrastructure 
Asian Stocks Fall as Bond Yields and Oil Prices Surge 
Asian Currencies Weaken as Dollar, Oil Prices Rise 
Europe’s AI Data Centre Boom Strengthens Case for Nuclear Power 
Add as a preferred source on Google
Hyundai Motor Group will speed up the construction of a massive new manufacturing project in Georgia to avail of new federal tax credits for electric vehicles next year.
A significant share of the battery components must be manufactured in the US to qualify fior halfof the $7,500 credit for news vehicles.
The South Korean carmaker recently broke ground on its $5.5 billion plant in Georgia, the company's first in the US dedicated to making electric vehicles.
The South Korean carmaker hopes to produce 300,000 electric vehicles per year when it opens the factory in 2025.
Hyundai would employ at least 8,100 personnel in the plant.
Euisun Chung, executive chairman of Hyundai Motor Group, said the plant in Bryan County west of Savannah, will be the envy of the industry.
It’s the largest economic development project Georgia has ever seen, say, state officials.
According to Gov. Brian Kemp, the project is transformational for the region that will resonate for generations to come.
President Joe Biden has also embraced boosting U.S. production and sales of electric vehicles as a key part of his strategy for slowing climate change and adding manufacturing jobs. The White House recently announced $2.8 billion in grants to ramp up the production of EV batteries in 12 states.
