Year: 2020

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(Bloomberg) — Hong Kong’s stock exchange was having a good week until Beijing crashed the party.Seen as one of the potential big winners from a bill last week by the U.S. Senate to limit listings of Chinese companies, Hong Kong Exchanges & Clearing Ltd. now faces what could be an even more rocky year than 2019, when political unrest cooled trading and brought revenue growth to a near standstill.The bourse’s shares on Friday had their biggest tumble in a year as investors absorbed Beijing’s proposal to impose security legislation on the semi-autonomous city. Protesters held their biggest rally in months …read more […]

(Bloomberg) — Alibaba Group Holding Ltd. slid after projecting revenue growth will slow this year, reflecting post-Covid 19 economic uncertainty at home as well as the potential for U.S.-Chinese tensions to disrupt its business.Its stock slid as much as 4% in Hong Kong Monday, after a drop of almost 6% in New York before the weekend. The e-commerce giant forecast sales growth this year of at least 27.5% to more than 650 billion yuan ($91 billion), down from 35% previously and slightly below analysts’ estimates. While it posted a better-than-expected 22% rise in March quarter revenue of 114.3 billion yuan, …read more […]

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Asian shares started cautiously on Monday as central bank largesse globally boosted sentiment but rising trade tensions between the world’s two biggest economies dulled risk appetite. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1% with South Korea, Australia and New Zealand all starting higher. Japan’s Nikkei jumped 1.5% after the Nikkei newspaper reported the country was considering a fresh stimulus package worth over $929 billion that will consist mostly of financial aid programmes for companies hit by the coronavirus pandemic. …read more […]

Digital media companies have understood podcasts for years. Now tech giants are getting in late, but bringing big dollars to buy instant footholds. …read more […]

May.24 — Foreign Minister Wang Yi said the U.S. should give up its “wishful thinking” of changing China, warning that some in America were pushing relations to a “new Cold War.” The bilateral relations have worsened dramatically in the past few months as America became one of the countries worst hit by the coronavirus pandemic, which was first discovered in the Chinese city of Wuhan. Selina Wang reports on “Bloomberg Daybreak: Australia.” …read more […]

May.24 — Hong Kong protesters battled with riot police in busy downtown areas on Sunday, showing their opposition toward China’s dramatic move to crack down on dissent in the biggest demonstration since the coronavirus swept through the city in January. Stephen Engle reports on “Bloomberg Daybreak: Australia.” …read more […]

(Bloomberg) — The U.S. should give up its “wishful thinking” of changing China, Foreign Minister Wang Yi said, warning that some in America were pushing relations to a “new Cold War.”“China has no intention to change the U.S., nor to replace the U.S. It is also wishful thinking for the U.S. to change China,” Wang said Sunday during his annual news briefing on the sidelines of National People’s Congress meetings in Beijing. He also criticized the U.S. for slowing its nuclear negotiations with North Korea and warned it not to cross Beijing’s “red line” on Taiwan.The U.S.-China relationship has worsened …read more […]

May.24 — U.K. Prime Minister Boris Johnson gave his backing to adviser Dominic Cummings, whom he said acted with “integrity” in traveling during the lockdown to obtain childcare. Johnson also said some schools are ready to open on June 1 as the country prepares to move to its second phase of reopening. He spoke at a press conference from 10 Downing Street on Sunday. …read more […]

May.24 — Governor Andrew Cuomo says he doesn’t “believe this economy just bounces back” even as he marks new steps in reopening New York, and urges the state to rebuild better after the nation’s worst outbreak of Covid-19. He speaks at Jones Beach on Long Island. (Excerpts) …read more […]