Asian shares reversed earlier losses on Monday and moved back toward a three-week top as Chinese efforts to cushion the blow from a coronavirus outbreak cheered investors, although Japanese stocks faltered amid growing recession risks.
Feb.16 — China said the death toll from the coronavirus rose to 1,770, while the province at the epicenter of the outbreak reported 1,933 new cases. Meanwhile, Hong Kong is facing “tsunami-like” shocks, and may incur a record budget deficit in the next fiscal year as the city counts the costs of the coronavirus outbreak after months of social unrest, Financial Secretary Paul Chan said. Tom Mackenzie and Yvonne Man report on “Bloomberg Markets: China Open.” …read more […]
General Motors says it’s pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don’t produce adequate returns on investments. The company said in a statement Sunday that it will wind down sales, engineering and design operations for its historic Holden brand in Australia and New Zealand in 2021. It also plans to sell its Rayong factory in Thailand to China’s Great Wall Motors and withdraw the Chevrolet brand from Thailand by the end of this year. …read more […]
(Bloomberg) — China’s stock benchmark recouped all its losses from a record $720 billion sell-off earlier this month, a sign that investor confidence is improving after policy makers acted to ease the economic fallout from the coronavirus outbreak.The CSI 300 Index added as much as 0.9% Monday, surpassing its 4,003.9-point close from Jan. 23, the last trading day before a Lunar New Year break that saw a surge in virus infections. The index plunged 7.9% on Feb. 3 as Chinese markets reopened to a health crisis that paralyzed most of the world’s second-largest economy. The measure remains well below its …read more […]
China’s Great Wall Motor said on Monday it had signed a binding agreement to purchase a car plant from General Motors in Thailand.
General Motors Co is retreating from more markets outside of the United States and China, saying on Sunday that it will wind down sales, design and engineering operations in Australia and New Zealand and retire the Holden brand by 2021. It also said China’s Great Wall Motor Co Ltd had agreed to buy GM’s Thailand manufacturing plant, a transaction expected to be completed by the end of 2020. In rearranging its global operations, GM is accelerating its retreat from unprofitable markets, becoming more dependent on the United States, China, Latin America and South Korea. …read more […]
General Motors Co is retreating from more markets outside of the United States and China, saying on Sunday that it will wind down sales, design and engineering operations in Australia and New Zealand and retire the Holden brand by 2021.
Asian shares stepped back from three-week highs on Monday as investors weighed the near-term hit on global growth from a fast-spreading coronavirus outbreak in China, although expectations of further policy stimulus helped stem losses. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1% to 555.50, easing further from last week’s top of 558.30, which was the highest since late January. Japan’s Nikkei fell more than 1% after data showed the country’s economy contracted at an annualised pace of 6.3% in October-December, shrinking at the fastest pace since the second quarter of 2014. …read more […]
Feb.16 — Vandana Hari, founder of Vanda Insights, discusses the spread of coronavirus and how it could impact the oil market. She speaks on “Bloomberg Markets: Asia.” …read more […]
Blue sky profit ahead for trillion-dollar tech titans, says Todd Shaver Todd Shaver has weathered the market’s wildest storms and come out smiling. He’s even staked his personal brand on it by naming his site […]
Oil prices edged lower on Monday as investors brace for economic data in Asia due this week that should give a reading on how China’s coronavirus epidemic has affected oil demand.
Feb.16 — The province at the center of the coronavirus outbreak has reported just under 2,000 new cases, breaking a downward trend in infections. That’s after China vows more fiscal stimulus measures to counter the epidemic. Bloomberg’s Tom Mackenzie and Yvonne Man report on “Bloomberg Markets: Asia.” …read more […]
Asian shares stepped back from three-week highs on Monday as investors weighed the near-term hit on global growth from a fast-spreading coronavirus outbreak in China, although expectations of further policy stimulus helped stem losses.
Feb.16 — Peter Coleman, chief executive officer and managing director of Woodside Petroleum Ltd., discusses how the coronavirus outbreak is affecting the company and the demand outlook for liquefied natural gas. He speaks with Paul Allen on “Bloomberg Markets.” …read more […]
U.S. printer maker Xerox Holdings Corp is hosting a dinner for HP Inc shareholders this week as it seeks investor support to overcome the personal computer maker’s resistance to its $35 billion takeover bid, according to people familiar with the matter.
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