Unitree Shares Jump After $904M Shanghai IPO | The China Show | 8/19/2026

Summary

The show covers a risk-off Asia session driven by the global AI/chip selloff and rising yields, while Unitree's Shanghai debut surges triple digits on intense retail demand for Chinese humanoid robotics. Baidu slumps after its fifth straight revenue drop, but Pony AI's CEO defends strong robotaxi growth. GigaDevice, HKEX and China government bonds stand out as more positive themes, with CGBs bucking global bond weakness.

• Asian equities fall after every Philadelphia semiconductor index stock dropped, with rising yields compounding AI spending fears.
• Unitree debuts in Shanghai with massive retail demand and a 500-600% intraday pop, seen as a milestone for humanoid robot valuations.
• Baidu reports a fifth consecutive revenue drop, ad sales down 19%, and is called structurally stretched by Bloomberg Intelligence.
• Pony AI CEO James Peng says the company had a fantastic quarter, with robotaxi revenue growth and a four-to-five-year cash runway.
• GigaDevice's niche memory shortage drove over 1,000% first-half profit growth; CITIC CLSA keeps buy targets and prefers H shares.
• China government bonds rally against the global bond selloff on PBOC easing expectations and diversification demand.
• HKEX is expected to beat consensus on record ADT and a strong AI-led IPO pipeline.
• Trump pauses proposed 50% tariffs on Canada for three days, strengthening the Canadian dollar.