Children wearing face masks ride on a cart at a public park on the first day of the Dragon Boat … [+] Festival holiday in Beijing, Friday, June 3, 2022, as China’s capital has begun to reopen parks, shopping malls, and other places as a Covid-19 outbreak subsides. (AP Photo/Mark Schiefelbein) ASSOCIATED PRESS Tourist trips…
Aerial view of contestants attending the opening ceremony of a dragon boat race in China in 2020. … [+] (Photo by Tan Kaixing/VCG via Getty Images) VCG via Getty Images Stock exchanges in mainland China and Hong Kong will be closed for the Dragon Boat Festival on Friday, June. 3. “There are many competing explanations…
China Last Night KraneShares Asian equities were mixed but mostly lower overnight though Mainland China was an outlier to the upside. Real estate and energy were bright spots in both Hong Kong and Mainland China on positive policy news and OPEC meetings today. Meituan Q1 Earnings Overview Meituan’s earnings slightly disappointed on the bottom line,…
China Last Night KraneShares Week in Review Asian equities had a relatively upbeat week overall as President Biden visited the region and China internet earnings season kicked off with a few surprises to the upside in names including Alibaba, Baidu, Kuaishou, NetEase, and Pinduoduo. However, Snapchat’s deeply disappointing earnings release in the US led to…
Signage displayed at the Alibaba Group Holding Ltd. headquarters in Hangzhou, China, Photographer: … [+] Qilai Shen/Bloomberg © 2022 Bloomberg Finance LP Alibaba’s stock jumped in Hong Kong after the Chinese e-commerce giant reported record transactions on its digital platform even as the resurgence of Covid-19 infections battered the world’s second-largest economy. The company—which counts…
China Last Night KraneShares Key News Asian equities were largely higher as China outperformed while Japan, India, and Indonesia were off slightly. Nike founder Phil Knight’s book Shoe Dog speaks to the determination of settlers to endure the Oregon Trail to reach the Pacific. Walter Isaacson’s book Steve Jobs speaks to the counter culture of…
China Last Night KraneShares Key News Asian equities curbed the enthusiasm we saw in US equities yesterday as only Indonesia managed a positive day. Asian growth stocks were hit hard following Snap’s missed financial results which weighed on sentiment. Growth sectors/stocks in China and Hong Kong underperformed as energy was the only positive sector in…
Robert Kuok Nora Tam/SCMP Kerry Properties—controlled by Malaysia’s richest person Robert Kuok—has agreed to sell two of its warehouses in Hong Kong to China Resources Logistics, a unit of state-owned China Resources Group, for HK$4.62 billion ($588 million), according to a filing to the Hong Kong stock exchange on Monday. Kerry Properties said in the…
China Last Night KraneShares Key News Asian equities were mixed overnight as President Biden visited the region. On the positive side, US tariffs on Chinese consumer goods might be cut. Also, Australia voted in a new Prime Minister with inflation concerns among voter concerns. This weekend’s Investor’s Business Daily front-page article was on the US…
China Last Night KraneShares Week in Review It was yet another choppy week of trading for Asian equities, which mirrored the US. However, both Hong Kong and Mainland China were up for the week. China released key economic indicators for the month of April on Monday, showing declines in all categories except for fixed asset…