China Last Night KraneShares Key News Asian equities were largely higher despite the US’ Fed Chair driven downdraft led by Hong Kong, Japan and India. Alibaba (BABA US, 9988 HK) announced it would increase its buyback program from $15B to $25B, having already bought back 56.2mm shares for a $9.2B. This was a very deliberate…
Week in Review This week saw heightened volatility in the internet sector as the Hang Seng TECH Index was down over -11% on Monday as Asian investors appeared to be taking the Holding Foreign Companies Accountable Act (HFCAA) and its implications into consideration for the first time. On Wednesday, Hong Kong and then US-listed internet…
A security officer wearing a face mask walks in front of the Shanghai Stock Exchange building in … [+] Shanghai in 2020. (AP Photo) ASSOCIATED PRESS Shares in Jinhui Mining, a China processor of lead, zinc, silver and other minerals, rose by nearly 44% on their first day of trading at the Shanghai Stock Exchange…
Alibaba-invested e-commerce firm Huitongda went public at the Hong Kong Stock Exchange today. … [+] Photographer: Roy Liu/Bloomberg © 2020 Bloomberg Finance LP Alibaba-backed Huitongda Network rose on its debut at the Hong Kong Stock Exchange today, lifting the fortune of its billionaire chairman Wang Jianguo. Shares in the provider of retail supply chain services…
China Last Night KraneShares Week in Review A rumor that Alibaba’s registering of 1 billion new shares on Friday was linked to SoftBank selling its stake weighed on China internet stocks on Monday. SoftBank denied the rumor on Wednesday, which led to a jump in Alibaba shares. The registration was likely due to ADR conversion.…
China Last Night KraneShares Key News Asian equities were mixed overnight as China, Singapore, and Indonesia outperformed while India and the Philippines underperformed. Citi’s internet analyst is reporting that Alibaba’s registration of 1 billion new shares on Friday is due to SoftBank, which reports earnings tomorrow, preparing to sell shares. Alibaba HK fell -4.49% on…
Richard Liu, founder and chief executive officer of JD.com Inc., in 2016. Photographer: Qilai … [+] Shen/Bloomberg © 2016 Bloomberg Finance LP One of China’s richest e-commerce entrepreneurs will donate shares in his flagship JD.com currently worth $2.28 billion to charity, the company said in a U.S. stock filing today. JD.com “has been notified by…
China Last Night KraneShares Week In Review China reported Monday that the country’s GDP grew at a better than expected +8% in 2021, though Q4 GDP disappointed at only +4%. Monetary policy easing was the key word in China this week as the PBOC announced cuts to the medium-term lending facility (MLF), reverse repos, and…
Alibaba Group Chairman Daniel Zhang. Photographer: Jason Alden/Bloomberg © 2020 Bloomberg Finance LP Less than two weeks after leaving the board of directors at troubled Beijing ride-sharing app Didi Global, Alibaba Group Chairman Daniel Zhang is departing from the board at Weibo, a media company known as “the Twitter of China.” Zhang left Weibo’s board effective…
China Last Night KraneShares Week In Review Nearly 3 million electric vehicles were sold in China in 2021, according to full year sales data reported Monday. Tencent sold its $3 billion stake in Southeast Asian E-Commerce platform Sea on Tuesday, leading to a slight downdraft in Tencent stock and others known to have been invested…