Hong Kong IPO Watch: Fast-fashion giant Shein made its long-awaited Hong Kong debut, raising about US$1.7bn and valuing the company around US$26.3bn, but shares slid as much as 10% on day one before ending near flat—investors cited slower growth, rising costs and regulatory pressure. Corporate Restructuring: Jollibee is considering a separate HKEX listing for its international unit, Jollibee Foods Corp. International, as it prepares to split overseas and Philippine operations and tap a broader investor base for expansion beyond Asia. Market Backdrop: A global bond sell-off deepened on US-Iran tensions and inflation fears, pushing yields higher and weighing on equities, with Hong Kong also trading under risk-off sentiment. Data Centre Power Race: A Reuters look at Asia’s data-centre boom highlights demand for transformers and advanced cooling as developers chase faster delivery amid grid-connection delays. Finance Innovation: Stark Technology launched Stark Market and Stark Banking, pitching a single ecosystem for brokerage, neobank services and multicurrency payments via a connected debit card. Logistics Update: UPS rolled out a new global operating model aimed at more consistent, agile service worldwide. Trade & Compliance: Automakers including Volkswagen and others opened probes into a Chinese auto parts supplier over allegations of labor abuses tied to newly hired graduates. Policy/Regulation: France moved to impose fees on ultra-fast fashion, targeting Shein and Temu as part of efforts to curb waste and undercutting.