Aug.09 — Taiwan President Tsai Ing-wen welcomes U.S. Health and Human Services Secretary Alex Azar, who arrived on Sunday for the highest-ranking visit by an American official to the island in decades. The trip stands to further worsen spiraling relations between the U.S. and China. (Tsai’s remarks are translated) …read more […]
Aug.09 — The U.S. and China are facing off on all sorts of issues. U.S. President Donald Trump moved to ban the apps TikTok and WeChat. Bloomberg’s Peter Elstrom discusses the implications for the tech industry on “Bloomberg Markets: China Open.” …read more […]
Aug.09 — Hong Kong police are said to have arrested media tycoon and prominent democracy advocate Jimmy Lai under a national security law. That’s according to local media reports. Bloomberg’s Stephen Engle reports on “Bloomberg Daybreak: Asia.” …read more […]
(Bloomberg) — Friday’s attack by President Donald Trump on WeChat may have pushed many investors to offload Asia’s technology shares. But for some, the selloff has presented a good buying opportunity.Jian Shi Cortesi, a fund manager at GAM Investment Management in Zurich, bought some Chinese internet stocks on Friday and plans to further increase holdings if the stock prices pull back more.“The U.S. ban on Chinese internet companies will have little impact on the revenue and earnings of most listed Chinese internet companies,” Cortesi said in an interview. Her Asia Focus Equity Fund has a third of its investments in …read more […]
Oil prices climbed in early trade on Monday, clawing back over half of Friday’s losses, on hopes for a stimulus deal to shore up the U.S. economic recovery and a pledge from Iraq to deepen its crude oil supply cuts. U.S. West Texas Intermediate (WTI) crude futures rose 49 cents, or 1.2%, to $41.71 a barrel at 0010 GMT, while Brent crude futures were up 40 cents, or 0.9%, at $44.80 a barrel. Hopes grew on Sunday that a stand-off would end between U.S. Democrats and the White House on a new support package for cash-strapped U.S. states …read more […]
Hyundai Motor Co stock jumped as much as 10.2% on Monday to its highest price since May 2018, after the automaker said it would create a family of Ioniq-brand electric vehicles (EVs) as it aims to become the third-largest EV maker by 2025. In an announcement earlier on Monday, Hyundai said the elevation of Ioniq from individual vehicle nameplate to a brand will support its goal of capturing 10% of global EV sales within five years. Hyundai shares reached as much as to 162,000 won ($136.47) in a broader KOSPI market that was up 0.4% at …read more […]
Oil prices climbed in early trade on Monday, clawing back over half of Friday’s losses, on hopes for a stimulus deal to shore up the U.S. economic recovery and a pledge from Iraq to deepen its crude oil supply cuts. Hopes grew on Sunday that a stand-off would end between U.S. Democrats and the White House on a new support package for cash-strapped U.S. states hit by the coronavirus pandemic. U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin both said they were willing to restart talks on a deal to cover the rest of 2020. …read more […]
Aug.09 — The U.S. is placing sanctions on 11 Chinese officials and their allies in Hong Kong, including Chief Executive Carrie Lam, over their roles in curtailing political freedoms in the former U.K. colony, the Treasury Department said Friday. Stephen Engle reports on “Bloomberg Daybreak: Australia.” …read more […]
Aug.09 — U.S. Health and Human Services Secretary Alex Azar arrived in Taiwan on Sunday for the highest-ranking visit by a U.S. official to the island in decades. Azar is expected to meet President Tsai Ing-wen on Monday morning, a person familiar with the arrangement. The trip stands to further worsen spiraling relations between the U.S. and China. Stephen Engle reports on “Bloomberg Daybreak: Australia.” …read more […]
Will Amazon open distribution centers at Simon malls? Simon Property Group is in talks to convert empty Sears and J.C. Penney stores, reports say. …read more […]
(Bloomberg) — Oil clawed back lost ground in Asia after Saudi Arabia’s state-controlled producer said it expects energy demand to improve. Futures in New York rose as much as 1.2%, after declining 1.7% on Friday. Saudi Aramco reported a 73% drop in second-quarter profit after crude prices collapsed amid the global pandemic. Oil consumption in Asia, Aramco’s largest regional market, has almost returned to pre-coronavirus levels and the company’s performance and demand for energy will probably improve over the rest of the year as nations ease coronavirus lockdowns, according to Chief Executive Officer Amin Nasser said. U.S. crude fell in …read more […]
Aug.09 — President Donald Trump said the crowd at his Bedminster, NJ resort was a “peaceful protest.” A reporter had asked why “dozens” of people in the room were not wearing masks. Trump spoke on Friday. …read more […]
Stock futures were little changed lower Sunday evening, pointing to a muted start to the week. …read more […]
Aug.09 — Democrats and Republicans have no new talks scheduled on the next stimulus bill. They are trillions of dollars apart on overall spending and on key issues, including on aid to state and local governments and the amount of supplementary unemployment benefits. House Speaker Nancy Pelosi and Senator Chuck Schumer spoke to reporters on Friday. …read more […]
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