JD.com shares fall after company slashes top executive pay Hong Kong listed shares of JD.com traded down more than 5% in the afternoon after the company confirmed pay cuts for its management team. The Chinese e-commerce giant has confirmed that it will cut the cash salaries of its management team by up to 20%, starting …
Hong Kong stocks lead losses as China’s Covid cases surge; Mixed Asian markets Read More »
Oil prices fall as China faces Covid concerns, Goldman Sachs cuts forecast Oil prices fell nearly a dollar as China’s Covid concerns grew, with the country seeing the first virus-related deaths recorded since May this year. Brent futures lost less than a dollar, or 0.9%, to settle at $86.83 a barrel and United States West …
Hong Kong shares fall 2% on Covid fears; China keeps interest rates unchanged Read More »
Japanese trading houses rise as Berkshire Hathaway reportedly increases stake Shares of some Japanese trading houses rose at the start of the Asian session, despite declines in markets in the region, after billionaire Warren Buffett’s Berkshire Hathaway increased its stake in the companies, according to individual regulatory filings. Berkshire increased its stake by more than …
Hong Kong shares drop 2% in Asia session; China keeps interest rates unchanged Read More »
NetEase plunges after Blizzard announces suspension of gaming services in China Hong Kong listed shares of NetEase plunged 13% after Blizzard Entertainment, a subunit of ActivisionBlizzardsaid it would suspend gaming services in China, citing the expiration of licensing agreements with NetEase. “We are extremely grateful for the passion our Chinese community has shown throughout the …
Yellen and PBOC Governor Yi Gang meet on sidelines of G-20 summit US Treasury Secretary Janet Yellen and People’s Bank of China Governor Yi Gang met on the sidelines of the G20 summit in Bali, Indonesia. Yellen in a tweet said the two men discussed “global macroeconomic and financial challenges, including the economic outlook” for …
Asia-Pacific markets are generally lower as the second day of the G-20 is underway Read More »
Hong Kong-listed Chinese tech stocks jump in early trading Hong Kong-listed shares of Chinese tech companies rose significantly in the first hour of trading. Tencent increased by 7.6%, Meituan gained 5.9%, and Ali Baba increased by 9%. The Hang Seng Tech index rose around 4%. The moves come despite disappointing data on Chinese retail activity …
Hong Kong stocks up 2% as tech stocks rise; China’s activity data disappoints Read More »
Foreign tourist arrivals will not return to pre-Covid levels until 2025, Indonesian minister says Foreign tourist arrivals in Indonesia will not return to pre-Covid levels until 2025, according to the country’s tourism ministry. Sandiaga Uno, the country’s tourism and creative economy minister, said foreign tourist arrivals are currently at 25% of pre-pandemic levels. The government …
Hong Kong stocks rise in mixed Asia-Pacific session, Softbank shares fall 14% Read More »
