TikTok Billionaire Tops Ambani

TikTok billionaire Zhang Yiming has overtaken India's Mukesh Ambani to become Asia's second-richest person.

This rise is attributed to a surge in ByteDance's valuation and further progress in the Chinese firm's AI ambitions.

The company's flagship chatbot, Doubao, however, shed millions of users after a sneak peek at paid-subscription tiers, raising concerns about monetisation strategy.

Meanwhile, Chinese investors are exiting Hong Kong-listed stocks as mainland AI shares broaden their appeal, highlighting a shift in investment focus within the region.