China Last Night KraneShares Key News Asian equities were largely off, as Japan outperformed while India and Thailand underperformed. China is closed this week for the National Holiday, while South Korea was closed today for National Foundation Day. 130 million vacation trips are estimated to be taken this year, less than last year. Many urban…
China Last Night KraneShares Week in Review Asian equities saw another week of turbulent trading, with growth stocks seeing the brunt of the selling pressure on increasing concerns about global growth and monetary policy. Trip.com and other travel-related stocks rallied early in the week as Hong Kong and Macau scrapped quarantine requirements for visitors. Mainland…
China Last Night KraneShares Key News The US dollar’s parabolic rise has taken a breather, allowing some Asian markets to recover overnight. Mainland China rallied on explicit policy support for equity markets as well as positive signaling and discussion around a potential reopening. Healthcare was a top performer in both Hong Kong and Mainland China.…
XPeng Chairman He Xiaopeng in 2021. Photographer: Qilai Shen/Bloomberg © 2021 Bloomberg Finance LP He Xiaopeng, the billionaire founder and chairman of China electric vehicle maker XPeng, bought nearly $30 million of shares in the company on Friday as a fall in the Alibaba-backed company continued anew. XPeng slid 0.2% on Friday in New York…
China Last Night KraneShares Key News Asian equity markets closed lower to start the week in anticipation of the US Federal Reserve hiking interest rates another 75 basis points. However, India managed a small gain while Japan was closed for the “Respect For The Aged Day” holiday. I apologize in advance for sounding like a…
China Last Night KraneShares Week in Review Asian equities had a mixed week as US dollar strength and Fed Chair Powell’s hawkish comments from Jackson Hole weighed on local currencies in the region, and China reported mixed economic indicators, showing an expansion of the services economy and a contraction in manufacturing in August. E-Commerce giant…
China’s once thriving Gome Retail has been hurt by Covid fallout and tough competition. … [+] Photographer: Kevin Lee/Bloomberg © 2009 Bloomberg Finance LP Red ink at Gome Retail, controlled by China’s one-time richest man Wong Kwong Yu, worsened in Jan.-June compared with a year earlier, the company said in a statement after the close…
Colin Huang, the founder of Pinduoduo, at the company’s office in Shanghai, China. Qilai Shen/Bloomberg Colin Huang, the reclusive billionaire behind Pinduoduo, saw his wealth surge by $3 billion in a single day after his discount e-commerce platform reported earnings that beat expectations by a wide margin. The 42-year-old tech tycoon derives the bulk of…
China Last Night KraneShares This morning, the SEC, PCAOB, and CSRC, in conjunction with the Ministry of Finance, released statements announcing the signing of a Statement of Protocol allowing the PCAOB to conduct full audit reviews of US-listed Chinese companies. The deal is the first step as the audit reviews still need to take place.…
China Last Night KraneShares Key News Asian equities had a good day with Hong Kong having a fantastic day despite the morning session, 9:30 to noon followed by a one-hour lunch break before afternoon trading starts at 1pm, being called off due to a typhoon. Hong Kong listed internet stocks flew as evidenced by Hong…