Year: 2020

(Bloomberg) — A relatively low-tech stock trade is making Tesla Inc.’s dizzying rally look like an under-performance.In Southeast Asia, makers of rubber gloves are attracting more investor fervor than even the electric cars and flame throwers of Elon Musk. Top Glove Corp. is up 389% this year in Kuala Lumpur, the most on the MSCI Asia Pacific Index, while Supermax Corp. has leaped more than 1,000%, compared with Tesla’s 259%. That’s due to the boom in glove demand thanks to the coronavirus pandemic, aided by a short-selling ban in Malaysia till year-end.The meteoric rise has been unprecedented by Malaysian standards, …read more […]

These tips will help you score a good deal on the most popular type of home loan. …read more […]

(Bloomberg) — Asian stocks have outperformed peers in the U.S. and Europe recently, bolstered by optimism toward China’s recovery and a sense that parts of the region have so far managed to keep a lid on the coronavirus pandemic.The MSCI Asia Pacific Index has climbed about 9% since the end of May through last week, compared with roughly 6% gains by both the S&P 500 Index and the Stoxx Europe 600. Tech stocks in Greater China have helped drive the advance in the Asian benchmark, with Tencent Holdings Ltd., Alibaba Group Holding Ltd. and Taiwan Semiconductor Manufacturing Co. accounting for …read more […]

The former chief operating officer at disgraced payments firm Wirecard has reportedly transferred “significant sums” of bitcoin following his escape from Germany, according to reporting by a leading German business newspaper Handelsblatt. Jan Marsalek was a key figure behind the breakdown of Germany-based Wirecard, which has made headlines for filing for insolvency and allegations of […]The post Most-wanted Wirecard executive reportedly owns ‘significant sums’ of Bitcoin – Report appeared first on The Block. …read more […]

About half of millennial and Gen X mortgage borrowers say someone in their household is on unemployment. Many worry about paying their mortgage when extra benefits end. …read more […]

Stocks were little changed on Friday as traders concluded a volatile week. …read more […]

Stocks slipped Friday as a sharp decline in Netflix pressured the rest of the market to end the week. …read more […]

As the final trading session of the week kicks off, stocks are not only focused on Netflix’s latest results, but also the latest housing data for direction. …read more […]

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(Bloomberg) — Electric-vehicle maker Xpeng Motors Technology Ltd. raised about $500 million from a group of venture investors, showing Chinese startups with promising car models can attract funding even as the industry’s sales slump.Investors in the Series C+ financing round include Sequoia Capital China, Hillhouse Capital, Coatue Management and Aspex, Xpeng said Monday in a statement. The fundraising follows a $400 million round in November.Xpeng is increasing its chances of staying as a viable contender in the world’s largest electric-car market, where it competes with sales leader Tesla Inc., local peers such as NIO Inc. and such global rivals as …read more […]

(Bloomberg) — Oil extended losses toward $40 a barrel as concerns about demand linger with the coronavirus raging unabated across many regions.The outbreak flared in Hong Kong, while Los Angeles is on the brink of another stay-at-home order as new cases in California accelerated, although the pace of deaths slowed in Arizona and Florida. Meanwhile, Russia’s oil exports are expected to stay near July’s historically low levels next month, a signal the country is serious about keeping extra crude it plans to pump domestically and draining key refining markets like northwest Europe.Oil has been stuck in a tight range this …read more […]

Jul.19 — After banning Huawei from its 5G network, the U.K. may further enflame tensions with China by suspending its extradition treaty with Hong Kong. Bloomberg’s Jodi Schneider reports on “Bloomberg Daybreak: Asia.” …read more […]

(Bloomberg) — Follow Bloomberg on LINE messenger for all the business news and analysis you need.The global frenzy for electric vehicles that has seen Tesla Inc.’s stock surge threefold is now juicing the shares of a South Korean supplier that has become the world’s biggest maker of electric vehicle batteries.South Korea’s LG Chem Ltd. has surged more than 62% this year to a valuation of around $30 billion, becoming the sixth-largest stock on the benchmark Kospi index and leaving Hyundai Motor Co., the nation’s largest automaker, in the dust.While LG supplies many automakers, including Hyundai, it’s been particularly fueled by …read more […]

(Bloomberg) — Some oil from China’s swelling storage tanks is finding its way back into the international market as traders jump at the opportunity to source cheap crude for resale to regional refiners.The shipments in question, so far just 1 million barrels, have been procured by trading houses via the Shanghai futures exchange, and loaded from the bourse’s numerous storage tanks that dot the country’s eastern coast. From these Chinese ports, the cargoes were then shipped to international buyers who would have otherwise sourced such supplies from producers across the Middle East and Africa.While China will never compete with the …read more […]

Jul.19 — European Union efforts to agree on a 750 billion-euro stimulus package ran into trouble late Sunday as leaders were unable to reconcile differences over how much of the recovery fund should be distributed through grants versus low-interest loans. Bloomberg’s Kathleen Hays reports on “Bloomberg Daybreak: Asia.” …read more […]