Tag Archives: Chinese

(Bloomberg) — Tencent Holdings Ltd. dived as much as 11% Tuesday after an offshoot of China’s official news agency decried the “spiritual opium” and “electronic drugs” of games, prompting the country’s largest corporation to declare the possibility of banning kids under the age of 12 from playing altogether. The twin developments stoked fears Beijing will next set its sights on online entertainment after reining in the e-commerce, ride-hailing and online education industries…. Source link

(Bloomberg) — Chinese equities rallied by the most in ten weeks as traders turned buyers of everything from baijiu producers to construction firms on expectations of increased support for the economy. The benchmark CSI 300 Index rose 2.6%, its best day since May 25. Consumer shares led gains, with Kweichow Moutai Co. and Wuliangye Yibin Co. adding at least 4.5%. In Hong Kong, the Hang Seng Index also rebounded, rising 1%. Monday’s move higher follows a volatile week for the world’s… Source link

(Reuters) – China’s cybersecurity watchdog suggested Didi Global Inc delay its initial public offering and urged it to review its network security, weeks before the Chinese ride-hailing giant went public, the Wall Street Journal reported on Monday, citing people familiar with the matter. It isn’t known whether Didi carried out its own review, according to the WSJ report. [https://on.wsj.com/3jKuGWx] But a person close to the company told the newspaper the company ultimately decided to go… Source link

Shares of Chinese ride-hailing giant Didi Global (DIDI) ended their first day of trading on the New York Stock Exchange at $14.20 apiece, kicking off what is set to be a busy summer of initial public offerings on the U.S. exchanges. The price represented an increase of 1.4% from Didi Global’s IPO price of $14 per American depository share on Tuesday. Earlier, shares opened at $16.65 apiece and climbed to as high as $18.00 during the session.  The company said it sold 316.8 million shares to… Source link

It’s not your usual cover coup, but a coup nonetheless: The charismatic Chinese retailer known to every chief executive officer in the biz as Mr. Ji is on the cover of the next issue of System magazine, photographed remotely by Juergen Teller no less. The chairman of SKP, widely considered the best luxury department store operator in China, Ji Xiao An gets 34 pages in the issue, including a long and lively conversation with Prada honcho Patrizio Bertelli, moderated by editor Jonathan… Source link

Mongolia promised its people a “COVID-free summer.” Bahrain said there would be a “return to normal life.” The tiny island nation of the Seychelles aimed to jump-start its economy. All three put their faith, at least in part, in easily accessible Chinese-made vaccines, which would allow them to roll out ambitious inoculation programs at a time when much of the world was going without. But instead of freedom from the coronavirus, all three countries are now battling a surge in… Source link

By Michael Martina WASHINGTON, June 3 (Reuters) – The Biden administration will issue a new executive order on Thursday that bans U.S. entities from buying or selling publicly traded securities for 59 Chinese companies with alleged ties to defense or surveillance technology sectors, senior administration officials said. The Treasury Department will enforce and update on a “rolling basis” the new ban list, which replaces one from the Department of Defense, the officials, noting the policy would… Source link

Robin Zeng, founder and chairman of Contemporary Amperex Technology. (Photo by Paul Zinken/picture alliance via Getty Images) picture alliance via Getty Images A little known but fast growing Chinese maker of batteries for electric vehicles now has more billionaires on Forbes’ list than just about any other public company. A whopping nine billionaires have fortunes of $1 billion or more based on their stakes in Contemporary Amperex Technology (known as CATL). Shares of the firm,… Source link

Pinduoduo founder Colin Huang The founder of high-flying Chinese e-commerce group Pinduoduo has stepped down unexpectedly as chairman. Colin Huang is China’s seventh richest person and is worth more than $50bn from his stake in the online firm. Mr Huang’s exit comes as Pinduoduo overtook rival tech giants JD.com and Alibaba with 788m annual active buyers on its platform last year. But his company has been criticised for its work culture following the death of two employees recently. Mr Huang will… Source link

TipRanks 3 Monster Growth Stocks That Could Reach New Highs Every investor knows that you can’t look to a stock’s past performance as predictor of future gains. It’s become axiom, even, one of the stock phrases that we all learn about in Econ 101: ‘Past performance does not guarantee future returns’ is common formulation. But that simple phrase, while true, raises a tough question: How should an investor judge a stock? The truth is, past is prologue, not prophet, and investors can… Source link