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.…
A customer collects a take-out order in a KFC restaurant in Shanghai last September. Photographer: … [+] Qilai Shen/Bloomberg © 2021 Bloomberg Finance LP Multiple waves of Delta variant outbreaks persisted throughout the fourth quarter of 2021 in mainland China, hurting business at Yum China, the company said in its latest earnings report today. Spun…
“You’d be a fool to underestimate the role of China – its 1.4 billion people, its increased … [+] demographics, its increased quality of film, its increased budgets, its increased box office,” IMAX CEO Rich Gelfond says. IMAX IMAX China, the Hong Kong-listed subsidiary of Canadian-American film technology supplier IMAX, said on Monday its business was…
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…
HONG KONG, CHINA – JANUARY 20: A hamster sits in a cage after being adopted by volunteers who … [+] stopped an owner from surrendering it to the government outside the New Territories South Animal Management Centre on January 20, 2022 in Hong Kong, China. Hong Kong’s pet shop owners have criticized but complied with…
Lim Kok Thay, CEO of the Genting Group, watches the ceremonial commissioning of a new laser hybrid … [+] panel line at the Warnemünde site of MV Werften on November 28, 2018. Bernd Wüstneck/picture alliance via Getty Images Malaysian billionaire Lim Kok Thay has stepped down as chairman and CEO of Genting Hong Kong just…
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…
China Last Night KraneShares Week In Review Health care gained Monday as China continues to battle covid-19 outbreaks with the city of Xian locked down, leading to increased demand for testing and vaccines. The growth to value rotation landed in Asia on Tuesday as the Shanghai Composite fell -1.06% and value stocks outperformed throughout the…
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…